The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-04-15
INVESTORS ARE BUYING
MINNEAPOLIS REALTY
Opposition to Real Estate Investment Is Disappearing
and Men with Idle Money Are Purchasing Both Bust
and Residence Property-Homes Sell Readily but
Big Property Deals Are Held Up Await Developments.

-
r INDICATIONS are found in the real
estate market this month that
confidence in Minneapolis real es-
tate as an investment is returning to
the investors Of large means. Small
capitalists have been showing their
faith by spending all their extra money
in buying homes, and many Of the
heavy capitalists have invested in
good business corners downtown, but
the intermediate class has been holding
quiry at the real estate offices goes to
show that the old, conservative spirit
Of opposition to real estate Investment
is breaking down under the pressure of
evidence that the notion has been a
mistaken one. -" "
Several agents have reported recently
that notably conservative men have
to ask just what truth there was in the
constant assertion that Minneap-
oils values are low and due to ad-
vance. They have implied also that
should any real good bargains turn up
they would be willing to place a few
thousands on venture.
What It Means. ,- ..
This is taken in real estate circles
as one Of the most encouraging signs Of
the, year. The change from stock in
vestment to real estate investment has
been regarded as inevitable. Indica-
tions of the change have been watched
for carefully and now that the light is
breaking it is expected that lively
movement will begin. 80.
The members Of the Minneapolis
Real Estate board plume themselves to
some extent on the change which is
reorganization, to get the "snaps' out
of the residence market. Then they
tried to induce people who had only
small means and small prospects to in
vest their money and stake their future
income on homes for themselves. At the
same. time they worked hard to elimi-
nate the fssnaps" in business proper
ties: The result Isl that business in out
side lots is good, and that all the bust
about ready to dump on the market
have been bought up.
Market Is Secure. ..-
One of the solid ., and continuous
features Of the market for over a
year has been the daily sale of low
priced lots, and of medium priced
houses and lots, to wage earners and
salaried clerks who were eager to Sc
| drain of monthly rent, with nothing
to show for the regular outlay. This is
| a settled trend which needs only to be
nurtured1 and it will Continue indefi-
nitely.
! This movement has begun to spread
/ to the class Of persons who can afford
to invest as much as $4,000 in a lump
. on5sa home. The sale in this classif-
cation is continuing good, and bids fair
4 to rival the traffic in the class below,
This condition is rounded out by the
attitude of the weather class, which is
! rapidly building up the best residence
parts Of the city with magnificent
! homes. The movement in home-build
ing has been SO satisfactory and the
population has increased so rapidly that
investment in duplex houses and flats
and apartment buildings has become
noticeable, and the results to the own
ers. seem to have proved eminently
acceptable. -.
4 Business Property Moves.
With the residence section we'll
taken care Of, so far as investment goes,
the real estate men are turning their
attention to the exploitation of bust
ness properties. With the information
that bankers and other slowly awaken
ing investors are beginning to take
enough interest in real estate to inves-
tigate it's possibilities as revenue pro
classification, then the whole market
will have been rounded out. .....-~ &:
The market this week has shown lit
tie change from conditions that have
existed ever since the first Of the new
season. The leading Offices report that
they are selling much good residence
property, but that big deals are only
Hpending.' When it has finally been
settled that Minneapolis is to be for
all time the jobbing center and gate
[way of the northwest, several pending
transactions will be brought to eli:
max at once: Every one Of them vii!
mean a. great deal to-, Minneapolis
credit. Everything seems to, hang OF
some large transactions which are cal
culated to wake the city to a realiza
ton of it's pre- eminence among west.
ern commercial centers, q 4.
Deals Held Up.
The " & No 6 Saiddng sP
pany are Ringing on q change Of con
the Hooker Cigar Manufacturing com
panv are hingeing on a change of con:
ditions which has practically stopped
the purchase Of the property the Hook
er company had expected to use as
new site for a building for itself and
for the. Northern Candy company
Until the latter firm finds place tc
move, the Mott company can hardly
begin building operations. :,
One of the biggest deals Of late II
residence property was the purchase al
auction of the Martin estate on Mime
haha creek by Thorpe Brothers. This
is to be plated into lots Of the ordinary "a
City size and sold at S. down and g
month. Last year Thorpe Brothers
closed successful venture, which was
similar in many ways, on adjoining
property called the Fort Avenue add
ton. With the David G. Bell Invest
ment company, they have been PIC
; neers in the movement to provide the
public with homes on such easy terms
that it can hardly afford to keep from
Immediate investment.
-.E