Los Angeles herald., 1908-05-31
REALTY DEALS
MARK PROGRESS
TRANSACTIONS DUEING MAY
THE BEST IN MONTHS
AMOUNT OF BUILDING INSPIRES
ADMIRATION
Cheap M ateriaI Induces Many to Ereot
Houses-Lumber viii Soon Ad-
vance-Harbor Imr rovements
to Benefit Realty

Real estate transactions for May
produced better total than any
month since September, notwithstand'
ing that there were only twenty-fouf
available days for business. When II
is borne in mind that the summer
months are upon the community and
that they are usually quiet in bust.
ness circles, especially in real estate
the fact that averages are higher ~
conclusive that a new era OF pros
perity is at hand.
During May there were 1922 tran%
fers, 316 trust deeds, 1859 mortgages
and 909 releases executed. The amount
involved was $3,351. 478 The daily avs
erages We're 1S0 transfers, GA trust
deeds and 80 releases, amounting TO
$139,645. These estimates are taken
from. the monthly bulletin issued by
the Fielding j. Stilson company, which
Is published in full in this issue, show
ing figures and facts which are most
gratifying to the real estate trade.
The amount of building now being
done is little short of marvellous. The
great inducement to build is the cheap
ness of lumber. Everybody who is in
a position to build and who so de-
sires Is taking advantage of cheap
material, with the result that the ar
chitects and builders are reaping
substantial benefit. Reports from
every section of the city in the tracts
of the suburbs and throughout South
ern California are that a building
wave is sweeping over the community.
In farming districts modern bungalows
and houses are rapidly taking the
place of the ugly eastern farm house
type so out of harmony with the land
scape of California. III the smaller
cities building activity is equal to that
of Los Angeles. Aside from lumber
w In N a fc
cheaper now than 1t has been for eight
years.
Advance in Retail Prices
Lumbermen say, however, there Is a
prospect of an advance In retail prices
In this city within the next thirty days.
From two to five dollars a thousand
feet may be added. according to de-
scription of material. 1t is also said
that brick makers are running short
and will put on from one to three dol
lars per thousand unless some big con-
tracts bob up to use the present sup
ply.
The improvement Of California har-
bors progresses rapidly and new ap-
propriations are being made, the most
recent being $252,250 for improvements
on the San Diego harbor. By the deep
ening of these harbors and otherwise
improving them a vast amount of new
business will be turned this way and
with the increase in commerce real es-
tate values will likewise increase and
many new settlers come here to ac-
quire lands.
The week just closed was notable for
the vast amount of business done In
the sale of country property. This act
ivity has continued throughout the
fall, winter and spring, with the result
that an epoch making record has been
obtained During the past half year
there have been more orange groves
sold than during any other like period
in the history of California. Inquiry
continues brisk and the demand for
country property shows a tendency to
increase with the months.
Splendid Bank Record
Bank clearings for the month of May
made a splendid showing when placed
in comparison with other periods and
point to an improved condition in busi-
ness generally.
Clearings for the month were $42,-
2S6S42. On account of May having five
Sundays and one legal holiday there
were only twenty-five available days
for business. This fact reduced the
total amount of clearings for the
month to figures slightly below those
| for April.
The total clearings for the first FIVE
months of 1908 were $2o1. 69S, 1903. as
| compared with s277, ,0S2 1855 for the same
period in 1907, and s24O, .5S4 In 1906.
A dispatch from Washington states
| that California gets 1887, 900 of the $22.-
$685. 900 carried In the omnibus public
buildings bill, which has been reported
to the house of representatives.
| AT the annual meeting of the Los
Angeles realty board which took place
yesterday at the Westminster hotel,
Edward d. Silent, G. p. Giffen and
Joseph r. Lotus were elected men,
bers of the governing committee to
serve for three years. The holdover
members of the committee are Gilbert
! s. Wright, w. w. Mines. Byron Erken-
brecher, David Berry, w. M Garland
| and ]. V. Baldwin.