The Birmingham age-herald., 1904-05-08
STEADY DEMAND
 FUR PROPERTY Birmingham Real Estate Market
 is Vtry Brisk YIELDS 4 GOOD PROFIT 
While Birmingham Real Estate Is 20 Per Cent Cheaper Than In Other Cities It Is Far Better
 Field for Investors.

mingham real estate, and few deals have been consummated within the last two or three months that have not yielded profit of from to 20 per cent
 Twenty-first street, which has grown 10 be the real estate row of Birmingham reports a brisk, steady business, and on account of the gradual appreciation in all parts of the city few complaints have been heard from purchasers.
 Very few days pass now without the opportunity of seeing out of town buyers visiting the various real estate offices, and 1t is a rare occurrence when these visitors leav town without coming in con trol of some valuable piece of property.
 Cheaper Than Other Cities.
 Notwithstanding the almost ceEtaifi profit in the purchase of Birmingham real estate 1t Is a peculiar fact that property here is something like 20 per cent cheap CT than in other leading southern cities. This is true as regards Nashville, Allan ta, Mobile, New Orleans, Memphis and Knoxville
 Real estate dealers say this fact has become known to out of town people and that this accounts for the large num- Der of non-residents who own property in Birmingham. It is a matter of current gossip along real estate row that the out of town buyers out number the local buyers nearly two to one.
 Since the boom days back in the eighties residents of Birmingham who had gotten accustomed 10 enormous prof it's and quick sales found 1t difficult to ts.f.r 4l.A..z ,1I., .y4al 1.la profit and steady but slower increase in values. Out of town buyers, however, find a profit of from to 70 per cent a fine business investment and are taking advantage of the opportunities offered in Birmingham. Local purchasers are also beginning to look at the situation In that light and consequently business Is brisk
 In an interesting pamphlet written by Frank V. Evans, a former mayor of Bir- mingham, and issued by the Birmingham Realty company, reference IS made to a former pamphlet issued in 1901 and in the following words tells of the growth since that time:
 An Idea of Increase.
 "yalues three years ago appeared too high to many observers and margins of profit were in dispute. The rise had been so rapid as to cause distrust. It was not so much the hgn price of lands and lots, but the rapid rate at which they had risen. No property IS ever high that yields returns for rne investment. Therefore Birmingham real estate vas not too high in 19oo1. It is not too high today. Yet 1t has greatly increased in price and in value the past three years.
 As an example, since the former pam phet was written, J. c. Whitfield pur- chased of the Birmingham Realty com pany 100 feet front on Powell avenue and Nineteenth street for $25.G0o and sold the same this year to Isadore Neuman a very wise business man of New Orleans, for $37, 800. Business property offered to- day by the Birmingham Realty company will yield from to 15 per cent on the investment.
 Along Highland Avenue.
 An instance of the rapid appreciation of values is shown In the property along the extension of Highland avenue since the building of the Country club mt Lakeview. A year ago this property could be purchased for $40 per front foot, but now it is In demand at $60.
 One prominent real estate dealer re- ports that he has made sales during the past ten days amounting 10 S13,100, and another reports the purchase of a piece of property from Yale university at $12O00. A well known business man of Birm- ingham bought piece Of property on Highland avenue last year for $l0000 and refused $16,000 for it last week. Another well-known company has concluded deals within the last eight days amounting 10 SS31 197.
 Several well known dealers estimate that sales of Birmingham property in the last sixty days amount to between $75O,- GOO and $1,000000.
 New Buildings Going Up.
 A number of substantial brick buildings are to be erected In Birmingham during the summer months. The Birmingham Realty company is contemplating erect ing d two-story brick building on its lot recently purchased on First avenue be- tween wenty-first and Twenty second streets The building is to be used ex- clusively as an office building, and will cost, it Is estimated Sl5,000.
 M. J. Gregg will erect d building on his lot fronting on the northslde of Second avenue, between Eighteenth and Nine teenth streets adjournng the new hotel to be erected by Mrs. J. E. Torrey. The Gregg building will be a substantial two story brick structure and will cost about s10,000.