Los Angeles herald. [microfilm reel] (Los Angeles [Calif.]) 1900-1911, 1908-01-26
INQUIRY is
SIGN OF AN
IMPROVEMENT
MONEY MARKET L00SENlNG
HAS BIG EFFECT
SEEK HoMEsITEs AND ACREAGE
PROPERTY
Real Estste Market Finds Great En-
enlargement in the Revival Of
Medlum-Priced Demand.
Many Big Sales

A marked improvement in the in
quiry among real estate men during
the past week for home sites and acre
age property near the city is taken as
one of the best straws the lind has
blown showing a general improvement
IN the realty market. This inquiry and
many sales, coupled with continued
generous offers of money for mortgage
Investment at moderate interest, point
to the advancement of the spring bus
tness, at least they are abundantly sat-
isfying to the real estate men them
selves.
One of the important motives of the
inquiry and the offers to loan is un-
doubtedly, real estate men say, the
secure arrangement of business. In
this respect January l was looked on
as a sort of crisis because there were
many large businesses that were
thought to be planning large curtail-
lnents that would jeopardize the posi-
lions and earning powers of hundreds
of employees. Now, in the judgment OF
real estate men, employees are feeling
more secure because business men are
seeing the financial situation in It's
true status and, as hundreds who were
on the anxious seat before the first
of the year are treasured, there is
liberal inquiry for home sites.
In other words there were many
prospective buyers who found the
financial stringency so portentious in
the fall that all thought of real es-
tate investment, either for speculation
or for permanent home. was ADAM
doned. Now business, which has eau
tiously steered through the financial
storm. finds itself again on firm bot
tom and employees who fill permanent
positions feel that their future is
secure.
No impairment
Thus, by hindsight, as it were, the
real estate market is gaining informa-
ton as to the depression and It's causes,
and gaining accurate measure OF it's
present condition. With the present
desire of home seekers to buy, with
even their partial ability the market
is further strengthened by the pres
ence of liberal amounts for mortgage
security. In addition several compan-
les that make business of building
homes under contract report not only
abundant inquiry but liberal ideas as
TO the cost of improvements. The
restoration of financial confidence and
the consequent appearance of money
to make the real estate movable, seems
to vindicate the judgment of the best
men that there has been no impair
ment of intrinsic values, but rather
that the lack Of money had interrupted
the movement.
There has been a large demand for
acreage property within ten miles
radius of the city. The focal point of
all inquiries though seems to be the
control of as large a space as pos
sible because Los Angeles will be
twice as big in the next five years"
That faith seems mistaken. and those
who are seeking acreage bargains are
expressing qualification that the
"panic" did no more than delay their
acquisition of sites wanted. That firm
faith is also reassuring to real estate
men who are alert for every varying
throb of the pulse Of the market.
Optimistic reinsurance is found too
in the prosecution of building. The
many large buildings under way or
planned for the city are going ahead
Just as If the financial stringency had
not existed. There are deals pending
whereby capitalists are seeking valu-
able downtown sites, where now only
meager and improbable improvements
exist for the purpose of development.
There are many available sites and
the competition for them is active, and
the buyers are not at all parsimonious
In their ideas of either value of i'm
provement
Architects are feeling the restoration
by increased inquiries as to building
plans, and several have received or
ders to complete plans that were dis
continued because of the depression.
They also find a demand for home
plans indicating that the small in
vestors are resuming activity with
confidence.
Contractors and material men report
activity. So that all the sources of
Judgment that the wave of financial
depression that held in check the ac-
tivity in real estate has been broken
and that the market will go steadily
forward.
The rain Of the past few days, of
but this IS a natural cause and one
that will not do more than irritate the
market. The market is willing to wait
though as the general satisfaction with
the abundance of rain is so general
aEd so necessary that temporary in
corruption win be welcomed.