The Saint Paul globe., 1905-03-26
Local Real Estate
G. Market =
As the Dealers See 1t

~ HERE is no boom in the St. Paul
realty market. Inquiries are
much more numerous than last
year at this time. but actual buy
ers are scarce and the demand that
has been noted is the result of the
general character of the inquiry.
The actual market is quiet. AS one
prominent real estate man said yester-
day, about the only sales are those
where a buyer warts a certain piece
of property and makes an offer for 1t
specifically.
The sales that are being made at
this time Of the year are widely dis
tributed and by no means fewer than
last year. The volume of them is
slightly greater, in fact, and from the
host of inquiries that have besieged
the various dealers since March / a
lively trade is looked for in the later
months of the spring.
The market is very irregular and the
prices realized run from a shade less
than the prevailing figures of last year
to even with them or a trifie in ad-
vance.
This depends on the character of the
holder of the land sold. If he is able
to hold without loss TO himself in some
other direction the prices realized by
him are little higher, but if he needs
the money the selling price is usually
somewhat shaded. There is nothing,
say the dealers, upon which a market
level may be raised.
In this regard they point out that
no section of town gets more than it's
share of transfers, and that they have
no good reason for advising purchase
or sale in any definite locality, as they
have sometimes done in past years.
Oscar L. Taylor of Taylor & Smith,
in discussing the market, said:
There is a marked lack of specula-
tive sales in the real estate trading
i'm st. Paul this year. Nobody is buy
ing lots or improved property in the
city merely because the price at which
the land is held is cheap. If they want
anything in the land line 1t is usually
something that they have had their
eyes on for some time. They sound
around and get line on values and
then make an offer. Before doing so,
as a rule, they have possessed them
selves of a knowledge of the strength
with which the lot or building is held
and their offers follow this informa-
ton very closely.
The present condition of trade
does not mean that there is any lack
of potential buying possibilities in the
local field, for hundreds of bonafide
investors who would buy for home or
business building are making inquiries
every day.
In past years there have been times
when certain localities present specu-
lative opportunities. but there is none
of this character of trading stimulus
this year. Thus when the Great West
ern railroad entered St. Paul some
years back there were speculative
chances along the line of the new road.
Over on the fiat lots and blocks had a
definite value from day TO day which
was constantly changing. moving up
and down and indicating TO a nicely
the value of any given piece Of prop
erty within the district affected.
In that day man could buy and if
the market advanced he could be rea-
sonably certain of getting as much
advance for his property if he suddenly
determined to market it as a holder
of grain options may when he deter
mines to sell out on a bulge.
Trade looks healthy, however. and
there Is a great amount of building in
contemplation for thus early in the
year. This is largely building of
homes for themselves by owners of
unimproved property"
Scattering sales were generally re-
ported in most Of the St. Paul real
estate houses. Acres in Ramsey
county. lots in outlying sections of St
Paul and improved property in the res
idence districts are included.
All agents reported numerous in
quiries for property, but one peculiar
thing was noted about this feature OF