The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-01-25
REAL ESTATE MEN
LOOK FOR ACTIVE
SEASON
Local Situation Is Improving
and Properties That Have
Been Held Are Now on
Apartment Build
ing Is Wanted for Colored
People.

While the week just closed was an
inactive one in the movement of local
real estate, the st. Paul brokers are
preparing for an unusually large BUSH
ness as soon as the season" opens.
January is always the dull month of
the year among real estate dealers,
and while there is little doing at the
present time, business is much bet
ter than during the same period a year
ago, and the prospects for an early
activity are very bright.
Thus far 1908 has surpassed the ex-
pectationS Of the most sanguine brok-
ers, and at present there is nothing in
prospect to diminish activity. The
general situation seems to be improv-
ing steadily and the indications are
that st. Paul real estate will maintain
its present broad scope.
Big things are expected from down.
town property during the present year.
Some who refused to sell in 1902 are
already offering desirable sites for sale
and some who bought last year are
realizing on their investments and are
preparing to reinvest in other SITES
Prices in the meanwhile are still adj
Vanc1ng, not with the same degree of
rapidly as some months ago, but suffi-
GENTLY to encourage purchases. The
majority Of persons prefer to invest
on a rising market, and it is this pref
spons1bIe for the continuance of the
upward movement. Bargain hunters
are not active. because bargains are
not to be had. This class of BUYERS
are waiting for a reaction, but the lat
ter seems as remote now as it was a
year ago. Every broker thoroughly
familiar with down-t town conditions
predicts still higher prices, and some
declare that in certain sections prices
will advance Indefinitely.
Building Is at StandstiII.
Building operations are also prac-
tically at standstill, owing to the
uncertain weather and other deterrent
factors of long standing.
However, architects have some inter
esting plans on the boards, but they are
not being rushed, nor is their number
equal to that Of year ago. Builders
are beginning to chafe under the in
activity, but whenever estimates are
obtained on new work. the latter at
least in some instances, is Indefinite
ly postponed. If anything, prices of
material are higher than ever, lead
ing operators to believe that a tacit
understanding exists betW cen produc-
ers to the end that prices will be main
tanned at present levels until the spring
building season opens, when, if a rush
sets in, prices are to be pushed still
higher. If that is the case, the longer
commencement on work is delayed the
more expensive it will be- And all the
While brokers are calling for more
houses, residences of the better grade,
to sell. The shortage of good dwell
ingS has reached a point where the
brokers are canvassing the better resi-
dence districts in an effort to induce
people to sell. But generally they re-
fuse to do so, because they do not
know where to look for new homes,
The outlook for a building boom of
moderate dimensions is extremely good
on that account alone.
Brokers Object to "Widcats."
Legitimate real estate brokers COM
plain of the methods employed by the
O-called wildcat dealers in connection
with the handling of real estate. Ref
erence is had to the indiscriminate
manner in which many brokers offer
property for sale without the knowl-
edge of the owner. Seeing a "for sale''
sign on the property, 1t is the custom
of many brokers to place their own
signs on the property in the belief
that if they chance to find purchaser
the owner Will overlook their unauthor-
lied action. In this way it frequently
happens that half a dozen or more signs
are stuck about on the same lot, not
only disfguring the neighborhood, but
working an injustice to the first and
authorized broker. The matter has
been discussed at meetings of the Real
Estate exchange, and the legislature
may be asked to pass bill relieving
the situation.
In speaking Of the local realty sit
uation and the prospects for the COM
ing year, J. w. Shepherd, recently
elected president of the st. Paul Real
Estate exchange, takes a decidedly OPP
timistic view of conditions.
AT the present time says Mr.. Shep-
herd, there are good investments to be
had in downtown property, as we'll as in
all parts of the city. Real estate is now
cheaper here in st. Paul than in any other
city of the same class in the country
Minneapolis gets higher prices per front
foot for business locations yet rentals
are no higher, and in many instances not
SO high. have just returned from a
business trip through Southern California,
and while there studied the real estate
situation very closely. In Los Angeles
business property sells for much better
prices than the same class of property
In st. Paul, yet after the improvements
are made, it brings no better rentals For
these very reasons the investments made
in St. Paul are better than In the cities
named. 1t requires the investment of
less capital to secure the same income
Business Houses Want Property.
Wholesale and jobbing houses in par
ticular," said Mr.. Shepherd, ARE having
a hard time in securing desirable loca-