The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-01-02
BELIEVE GOOD
YEAR IS AHEAD
REAL ESTATE MEN SEE REASONS
FOR PROSPERITY IN 1904.
Conservatism in the Farm Land Move
ment and Reaction from Stock
Speculation Are in Favor of Stable
Real Estate-Home-B Buying Moves
ment Is Expected to Continue.

The real estate men look forward to
a good year in their business. The
general changes which affect other
lines are expected to affect real estate.
The fact that the tremendous farm
land movement is upon more conser-
vative basis and the reaction against
extensive stock and bond investments
are likely to turn the mind Of the pub
lie to old, stable real estate.
One feature is expected to continue
in the Minneapolis market--the buy
ing Of homes or home sites by those
who have been tenants of houses or
flats. This sort of buying began at
least a year ago and has continued on
the increase, save for the normal drop
off about tax time at the end Of the
year.
The depressing feature of real estate
in the city has been that with fifty
three square miles of area, room for
100000 persons, and with popula-
ton Of only 100000, the growth has
been sufficient only to take up the
snaps"
The good feature of ome-buying
continued, however. along with the in
crease in population, is expected
gradually to reduce to minimum the
influence of the factor of large area.
Work of Past Year.
good many real estate men have
had as large a business as they had
hoped for in 1903 and many better.
Some Of the officers have forged ahead
while others have had hard shedding
The offices which have been run on
strict business principles are getting
into a prosperous class by themselves.
In the elimination Of disagreeable
features in the market. There are
some that the Minneapolis real estate
board has sought for long time to
get rid of. There has been more of a
getting together.
The board has taken an active part
in the movement toward an equitable
valuation Of property for the use of
the assessor and members Of the board
are making the basing valuations.
The board has issued new local atlas
this year and has established it's first
permanent headquarters in the Ka-
sofa building. The services Of the
valuation committee have been fire.
quently sought with good results.
Rents May Be Readjusted.
It Is expected, as a result of the
large interest aroused recently in Min
neapols land values and Of the study
Of the question from all points, that
there may be readjustment Of rents,
especially in the business part of the
city. 1t has been hard sometimes, to
convince tenants about values, and
sometimes 1t has been difficult for the
rental man to give definite reasons for
charges which he was morally sure
were all right. But this work Of the
special committee which is making
down town valua lions is arousing a
definite study of values and agents are
giving so much time to the exact side
of their business that 1t will be posi-
BILE to present cold facts upon which
to base rentals. Something of this
s4sort has been coming out during the
new year, as new leases and revalua-
lions have been made.
Building Outlook.
Building has been good, especially
in the small home class. Business
building and that Of finer residences
has not been what it would have beer
had labor and material conditions beer
settled. 1t will be good next year un
less similar depressing conditions pre-
vail. 1t is expected that two or three
big buildings will be put up on princi
pal corners down town and that one
or two banks will have new homes
Among the prospects are the Yerxs
building, two Mcknight buildings, one
on the Warner corner at Fourth
street and Nicollet, possibly two
theaters and an office building a
Eleventh and Nicollet.