New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-10-11
THE WEEK IN REALTY.
Pleasing Features Of Market Re
CedIed by Statistics.

fair volume OF business was reported last week.
There were few interesting transactions. rene OF
which attracted much attention. The small num-
Der OF big deals and the absence OF signs indicating
a new purchasing movement caused no uneasiness
as they were not expected All conditions consid-
cred, the business transacted was about as good
as the most optimistic had looked for. Despite
the building trades troubles some new realty rec
ords are likely to &. made this year. Prices
stiu soaring higher and this IS not the only pleas
ing feature Of the market. Up TO q few weeks
ago ii was difficult 20 obtain large loans at the
minimum rates % interest Since then the money
market has become easier; in fact ~ statistics
true Il Is better than Il this time last year.
The number OF Manhattan mortgages at less than
per cent recorded last week ffty-one. and
the sum Of those mortgages was g 15s 500 against
fty-foUr MORTGAGES 1t less than per cent record
Cd In the corresponding week Of last year. The
total Of The dfty-foUr mortga ges was N~2s IA
The figures are
sum q tae mortgages ~ less than per cent $1,000.
San y TIE r5-tsaees at less than : per cent
corded in che week ending October p 1902 LIB
Increase last week in the sun Of saeh mort
5hsn Pe- cens n the week Of os5SeT 9 1902 sse7o7s
This IS large Increase in the loans at the mini
mum rates OF interest-nlore than 20 per cent.
Most OF these loans at less than per cent were
obtained from banks. trust or insurance companies
IN the week OF October 2. 1902. these institutions
loaned at similar rates of interest Manhattan
property Ss1O300 against g s 500 for last week
A comparative table OF loans OF the banking
trust and Insurance companies follows
Loaned a. less than Per cent in week O;
1.SsIe5 a, 80 than per cent n week OF
Oc-0oer 2. 1892 ------.------- sleS'o
Increase OF such loan. ............... 81 PAS zoe
Total sum % such loans in week OF October sc 80,
Total sum Of such loans from banks. etc. in
Total sun o. such loans from other shan
hanks IL the last week -..---..---.-- sss294
Several weeks ago The Tribune printed report
that some Of the larger life insurance companies
had sent out word that they had more than several
figures given prove that the companies meant
what they said. Il cannot now be told whether the
banks. trust and insurance companies loaned sums
representing than 60 per cent Of the value OF
the properties mortgaged at the low rates Of in
terest. That question can only be determined by
examining the properties mOrtgaged to learn their
probable market value. and then by comparing the
sum Of the loans and the estimated market value
Of the property. To determine the probable market
value OF real estate is child's play, though
many persons think II is, and even begrudge paying
81 for having an appraisenent made. There have
been recent instances where several leading ap-
uraisers have been about 10000 apart in their ap-
r.-s5r.--r-- +Na same plOr- To return
eLaraIration Of loans recorded last week and for
the corresponding week IN 1892 such pleasing COM
PARSONS as the following VIII be revealed:
Total SUR Of loans Al less than per cent o. $500.
Bronx rrop+rties week O October y 1902 $4,000
B-5uK proge-ties N The week Of OCTOBER 1903. las
1-,-.ss. n s-,ch loans last week over the CORE
spoallnE week - 1902 -s<o-VV
is not this increase Of such size as to cause
owners Of properties in The Bronx much Joy "a
Examine the mortgage. convey a!lCe aIlq ol..u 5
ing statistics from almost every point OF EleW ana
there seems 10 be no eIq To me Te 81 oIber Of
parsons that can oe I--aNe' -' -
these comparisons