New-York tribune., 1903-01-25
THE WEEK IN RE4 LTH.
Demand for D1celFng Houses In
creases-FuN Assessment Plan.

The tore Of the real estate market as indicated
by the transactions reported last week, is gratfy-
ing In The Tribune September p, 1892, it was
predicted that, though more apartment hotels and
apartment houses have been built in the last few
years than dwelling houses, the demand for dwell
ing houses had not been decreasing but increasing
at lively The principal feature of last week
in the real estate market was the transactions IN
dwelling houses and dwelling houses of the best
type in some OF the choicest locations of the city,
most of the parcels having been bought as homes
for the purchasers. These transaction show that
the students the real estate market carefully in
yestigated conditions before making predictions
When these prophecies made it known
that a revision Of the assessment lists had been
begun and that operations to purchase to i'm
prove would be with a knowledge that properties
were to he assessed at their full value.
There is an inactivity in certain lines Of the real
estate business. this inactivity is not due the
full assessment plan. 1t is caused by persons who
buy and improve certain types of parcels, being
unable present to their way clear to improve
their holdings. large number of brokers say that
some persons who were thinking of becoming in
vestors have decided not to buy, all account of
the fun assessment plan. The reason for this
change Of opinion. 1t is said is that the prospective
buyers became convinced that the prospect of get
ting a fair return for their money invested under
the full assessment plan was not bright. The best
argument TO present TO persons holding such opn-
is to show them the reports of the sales made
last week. There are some persons who would like
clad guarantee that will insure them against loss
II such guarantees obtainable the services of
experts Oh realty values would be useless. The
real estate business resolve itself into
huying and selling OF real estate and in the improv-
ing and the managing of real estate IN haphazard
manner. II is a business that be learned in
a day or in d year or two years. 1t takes long
hard study before person of average intelligence
can become fair judge Of realty values and condi
tions which affect such values. Many persons fire.
dUentIy say that a real estate broker can make
more money with less work than persons in ether
lines of business Any make such as
serton. but the person who prove the assertion
is yet to be found. An assertion of this kind is
only laughed at in real estate circles
But the wailings over the full assessment plan
are sowing the seeds of doubt its value in
the minds of beginners in the market according to
many realty students. and doubts such an i'm
portant question likely 10 make the beginners
timid In the great upbuilding Of the city the city
itself plays an important part in the creation of
parks in the erection of public schools and in
many other ways. The assertion is strongly made
therefore that ii should get and just return
for its labors. With property assessed at from %
to 20 per cent of its valuation many persons could
well afford hold large plots of land unimproved
for years until the section of which the land was
part was built up. Then the owners could sell at
a great profit and the benefit TO the city from
such a holding would be practically nothing
A word to show now as result of operation
of this kind the city can lose II a person had
bought oil the land bounded bv Central Park
West. -hundredth-st. One-hundred- and twenty
ffth-st and the North River about twenty years
ago. and refused TO sell until now. though the
sections adjoining the parcel the north and the
south had been thickly built up many years ago,
the city. IN order 10 have its sewer and water
lines straight would have had TO lay its mains
through the vacant section. While this large
vacant section remained unimproved how much