The Norfolk weekly news-journal., 1907-10-18
CITY REAL ESTATE PRICES.
NORFOLK PROPERTY HAS BEEN
ADVANCING IN PRICE.
MOST ACTIVE SINCE EIGHTIES
Norfolk Real Estate Has Shown Great
er Activity During the Past Year
Than at Any Time Within the Past
Eighteen or Twenty Years.

Eighteen or Twenty Years.
Norfolk's hopes and prospects for
general business expansion are being
reflected in a general advance in city
| real estate values.
The demand for city property In
Norfolk during the past four or Ave
months has, il was stated at the ONCE
Of the Madison County Abstract &
Guarantee Co. been more active that
at any time since the late eighties.
1t is easier today to sell Norfolk
property than it has been for years
and 1t is said that more city property
is actually changing hands at this time.
The upward tendency of prices Is
general, including suburban property.
Touching Norfolk avenue business pro.
perty, however, there have been few
transactions to register relative values.
Two vacant Norfolk avenue lots in
the residence section sold last spring
for $l,500. over the city residence
lots in good locations bring from $500
to 5000. In the additions the lots
range from 800 to 5000. City pro
perty values have been rising grad
ually in Norfolk for the last three or
four years.
The day of the $50 lot in Norfolk is
pretty much a thing OF the past. AS
a general estimate of local conditions
is is said that vacant lots off Norfolk
avenue, including The Heights, the
the Junction, and the east and north
sections of the city, have about doubl-
ed in price during the last three or
four years
Norfolk real estate values" one
Norfolk real estate man remarked yes
terday, have gone through a process
of stiffening up in the few years just
past Owners and buyers valuations
of lots often differ and the difference
in Norfolk a few years ago was great.
What | mean by values stiffening is
that the buyers and owners are get.
ting close to the same price"
Norfolk real estate" this man con-
tinued, lis | think still unreasonably
cheap all things considered. The aver
age value of good inside lots, lots not
adjacent to the country, | think aver
ages about$250. Compared even with
other north Nebraska towns Norfolk
city property has not reached its pro-
per level"
There are many evident reasons why
: Norfolk residence property has been
stiffening in price and why the up
ward movement in lot values over the
city Is slated to continue.
There is the general reason that
touches the growth and prosperity of
the city. Norfolk it is pointed out,
= seems to be becoming self-counscious,
beginning to realize the possibilities
of her position in the northwest, a
position which she has recently been
setting forth new efforts to better fill.
But there are specific reasons. Nor
/ folk property is being bought by home
; builders Part of the increased de-
mand has come from travelling men,
= who have been making their head
: quarters here in additional numbers,
, and from railroad men who have and
! probably will continue to be active In
the list of home buyers.
The campaign for better streets and
, side walks is beyond the slightest
, doubt registering Itself in Increased
Z property values. Residence property
decreases in value as 1t Is removed
+ from the business center Of the town
+ BY no city Of the west during the past
4 three years has Norfolk been oyertak
l.. en- in the miles of cement sidewalks
: 10; ciA liyc
ings have brought and are bringing
g suburban Norfolk farther and farther
= into the city. 1t isn't mere distance
t that counts for in all reality a piece
: OF property seven blocks from Nor
: folk folk avenue but reached by Gem
e ent walks and crossings is nearer In
. than another piece Of property that
: must be reached over four blocks OF
! mud and delapidated walks.
!. Not only is sidewalk building in.
Z creasing the value Of Norfolk property
g beyond the mere investment in the
r walk but good roads work the same
Z way. And there is no doubt that the
graveled roadway when successfully
I completed on South First street will
| not only bring north and south Nor.
Z folk nearer together but will bring in
' creased property values to South First
( street property.
: Just now an important annexation
: ordinance is before the city council
5 It is believed that this property will
: reap an increased value In the course
of few years and will share in the
: general upward movement of Norfolk
, property TO which II will be closer
: united in many ways.
| BY the construction OF a new sewer
E system, by the extension OF water
= mains and by an extensive cement
! walk campaign, II is pointed out that
/. the city is giving added value to Nor
! folk property. What paving will be
e to Norfolk avenue the cement walk
e and crossing has already been to out