The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1905-04-02
Local Real Estate
Market Improves

measurable improved. There was
more and steadier inquiry; more sales
consummated and more trades under
negotiation than last week. The trans
fers are still general and widely dis
trlouted, indicating that the specula-
i've feature has not started to play any
very important part SO far in this
market.
The purchases of lots and unim-
proved land are very generally for i'm
mediate improvement and use as
MONIES ana as consequence the
building operation of St. Paul are
greater for this time of the year than
for several seasons.
one feature that has proved to be
cheering to the dealers in St. Paul
real estate has been the fact that the
character of the Inquiries has under
gone an appreciable change withtHz ten
days. Prior to that time the fndf35rers
were more shoppers than BUYERS Now
the dealers say nearly every Spros-
pective purchaser has his mind fixed
on Just what he wants, and Gales are
easy 10 make when the one matter of
price is adjusted to a common basis.
Peter Mcdonald said of the market:
The inquiry for land, lots and
buildings Is larger than last week and
of a much more substantial character
l have noticed that among real estate
buyers there Is tendency every
spring to do a lot of shopping Some
times this shopping results in sales
and sometimes II does not. Up to the
middle of March ii was rather a rare
occurrence to close up sale in two
interviews on account of the fact that
the buyers were just looking around
10 determine where the real bargains
lay.
when quick sales were made ii was
generally because a man wanted some
specific plot of ground for a specific
purpose, and when it was possible to
bring the owner of the land to see the
transaction in a reasonable light the
deal went through, but if the holder
was the least bit stiff the would be
buyer broke off negotiations.
This week, however, 1t is different.
OF course, there is great deal of shop
ping still going on but with il there is
solid volume of real buyers. These
are mostly men who have ready money
and who are living either in rented
houses or small structures of their
own. They want homes of size and
value commensurate with their means
and consequently the sales are gener-
ally for homes"
The prices obtained during the week
were at the previous level This level
is the low point reached last year and
which has not raised since the slump
OF that time Dealers generally say
that il would not take much to send
prices kiting to the figure of 1900, but
that il is not desirable to force the
market in its present state. Offerings
are rather limited, but so far they have
been about equal to the demand
What the dealers particularly want
to avoid is anything-like a sharp ad-
vance in prices without corresponding
increase in values. They are unani-
nous on the point and say that imitation
at this time would be very bad for the
prosperity of the city.
Usually" said a prominent banker,
who makes speciality of real estate
mortgage and building loans real es-
tate agents seek some sort of an ex-
cuse or no~excuse at all to boost prices.
While the prices are maintained at the
artificial level loans are generally asked
and unless the holder sells to a solid
man financially the land reverts to the
holder of the mortgages when the time
comes for the pendulum of prices to
swing back.
1.-The land may be worth ali the
mortgagor paid for it and yet when
other property that has been inflated
and hypothecated comes down with
run, the value of the reasonably priced
land also tumbles and it too is lost.
Preserve st. Paul from a period of in
flation and I h G 10 e will have done
a solid service to the town."
The sales of last week were largely
in the interurban districts and away
from the business center of ST Paul.
In volume they exceeded the CORE
spending period last year by little over
$4,000. In number they were eighteen
more than last year for the final week
in March,"
I'VE have sold quite a large number
of lots" said w. c. Read. land the
market seems to be in healthy condi-
ton, although il is not broad
This was the story told in most of
the leading offices of St. Paul, and was
frequently prefaced by the remark that
If St Paul could avoid a boom there
was nothing in sight to stop the COM
mercial prosperity of the city.
The architects and contractors had
a busy week and the work on hand
for them, as we'll as that in prospect, is
so great in point of quantity that there
was a heavy run on draughtsmen and
mechanical help for the drawing of
plans and compilation of specifications.
1t is confidently predicted that the
month of April will see all building
records of St. Paul eclipsed as far as
number of building permits issued is
concerned.
Let st. Paul people keep their heads
during the coming activity" said a
veteran dealer, and istead of a spas
modic boom which will certainly come
this spring if they do not, we will have
a solid permanent advance in values