Omaha daily bee., 1908-12-20
TIMELY REAL ESTATE GOSSIP
". L. Kierstead Makes 300 Per Cent
on Sale of Lot.
REALTY VALUE INCREASES LARGE
Property in Omaha Has Risen In
Price at Astonishing Rate in
Recent Time-wOes OF
the Agent.

A striking instance Of the immense growth
In Omaha realty values is afforded in a
deal not greatly consequential I'm Itself.
William I. Kierstead has just disposed OF a
small lot near Florence boulevard for $50,
a figure over three times the price, 5000,
which he paid for this lot three years ago.
The lot has thus netted him more than 300
per cent on the original investment and can
be figured at an annual return on the prin-
cipal of over 100 per cent. This would gem
orally be considered a good return In this
day and age.
1t Is true hat the increase In value men
toned borders somewhat on the abnormal,
yet 1t is also true that property values all
over Omaha have gone up in the last three
years at an astonishing rate. This Is a
factor which sometimes cuts two ways. In
some glaring cases vacant property has
been held for these and more years at a
figure Just a little above what any one Will
pay and this has prevented Improvement
on one or two corners which should have
been built long ago. This cloud which Is
not a very big cloud at the worst, has,
nevertheless, It's silver lining. When the
properties in question are finally sold to
those who will build thereon, the chances
are that bigger and better buildings will
hllrf imam OAAh INV bp StNaR Nb 1900
II the owners had let go two @. three years
ago.
'"rhere is a fair amount Of grief In
railroading. a considerable quantity in
newspaper work, but It Is doubtful II more
vexations harass the men OF either occupa-
ton than fall to the lot Of the real estate
agent. In few lines of labor is there so
much good hard work done which comes
absolutely to naught. Every dealer and
agent has devoted weeks, some times even
months, to a project only 10 have the
person or persons with whom he Is work
ing back out at the last minute. One may
grow accustomed to this, but it must be
Encouraging when a man is new In the
business. Al! the time and energy gone.
and nothing to show for It.
1.-THE neighbors are sometimes another
source of juslifiable profanity. The agent
leads q Prospective Purchaser to view the
remarkable residence or bungalow which
he has listed. He makes the price, say
5000, and the p. p, is impressed and con-
siders the proposition quite favorably.
'The nelghbor hunts him up.
81 understand, Brown, that you are
thinking of buying that house next mine
I've been looking at it, says Brown
gua1dcdly. The price? Oh he says heu
let me have It for 5000
Three thousand cries the neighbor in
accents of surprise. Why he offered it
to me for $500
IF after this the agent sells the house
for 5000 it Is only through a deal of hard
work neceasltated by the aforesaid neigh
Dor.
This applies to the renting of houses as
well and woe to the agent who rents one
80 N pouy at IN ,rica lamar than tho others
1t were better for him to keep a house
standind idle for months and months than
to slash the price. II he does, the whole
row knows about II In less than a week.
Omaha's water supply or more strictly
its system Of Waterman extension fur
nished the Real Estate exchange with a
fruitful topic of discussion at its last meet
ing and men with property to rent or sell
in outlying districts seemed to be unqni-
mously OF the opinion that there is room
for Improvement Authoritative remarks on
the subject will be heard Wednesday when
Howard Baldrige viii by invitation of the
exchange address that body.
Another theme up for discussion at this
meeting Is the question of consolidation
Of the two Omahas and the result of the
discussion which argued that consolidation
would increase values in both cities was
that President Robbins was empowered to
select a legislative committe which will
report at a date in the near future.