The Salt Lake herald-Republican. [volume] (Salt Lake City, Utah) 1909-1918, 1910-03-13
HOMES SOUGHT BY
MANY DURING WEEK
Prospective Purchasers Throng
Real Estate Offices Max
ing Inquiries.
FINE WEATHER STIMULUS
OUTLOOK FOR NEAR FUTURE is
EXCEEDINGLY BRIGHT.
FINE WEATHER STIMULUS

While a number of sales were made
by real estate dealers during the past
week. the market was not so lively as
was expected would result from the ex-
ceptionally fine brand OF spring wealth
. er which has been enjoyed. There is
y uncertainty about the outlook, how
yer, il being generally conceded that
there will be an activity in real estate
this year such as has never before been
experienced.
The week has been one of great in
quiry. Thousands of people are turn
ing their attention toward real estate.
realizing that it is good thing to buy
for investment, as well as for home
building purposes. All the dealers say
that their offices have been regular
clearing houses for information con-
corning real estate conditions general
ly. People know that real estate is
good investment and are DESTROYS of
investigating but before they hand out
their good money they want to investi-
gate thoroughly with view to finding
the best bargains. This has resulted in
a great deal of inquiry, without COM
mensurate amount Of sales.
No Boom Features.
Dealers generally report that the
market is In good condition. There is
q noticeable lack of any boom features
and prOperty is selling on its merits.
II is pointed out in proof OF the claim
that the activity in real estate is not
due TO any boom, that prices now in
many parts of the city are no higher
than they were twenty years ago. The
phenomenal increase in values of State
1t. ss..-r
during the past year or two is justified
by the great improvements being made.
With buildings going up that are to
cost in the aggregate several millions
of dollers, there is little wonder that
the property around them has shown
great advance in price. II IS said that
before the end of the present year fur
Their advances in price viii be made
Property on Fifth South street, which
is fast being encroached on by the bus
mess district, furnishes an instance of
the valuations being placed on property
of that kind. The owner asks $500 per
front foot for a 10x20 rods piece Of
ground between Main and West Tenn
pie streets. II is rumOred that recently
an owner of property on Fourth South
street, between Main and West Tenn
pie streets, was offered $1,000 per front
foot.
VAIN 0ITSSN 0OOQs
One prominent real estate dealer said
yesterday that he was of the opinion
that there was not a piece of business
property in the city which was not
paying a good revenue TO the owner.
Property on Main street, south of
Fourth South street. which is really
business district property, but which is
occupied by residences, is paying good
interest on the money invested and on
present quoted prices. If that property
were covered by stores and other bust
ness houses the revenue would be null
tiplied several times over. Six per cent
is said to be a good interest on bust
ness property, but much of the Salt
Lake property is paying from 10 to 10
per cent. This same dealer says that
this condition means that either the
land values are too low, or the rents
too high. It is said that what in Salt
Lake commands $500 per front foot is
selling in Los Angeles for $500 front
foot.
The coming of spring weather has
given a great impetus to the building
movement throughout the city, and
everywhere are TO be seen evidences of
activity. The two big hotels are pro-
crossing at a rapid rate, the steel
work being rushed as fast as skilled
woPkmen can do il. The work of raz-
ing the Halls hotel building, prepara-
tory to the erection of the mammoth
department store by the Auerbachs.
has been commenced, and within a
short time this old building viii have
fallen prey TO the housewrecker.
Outlying Residences.
Interest in subdivision and addition
property is on the increase. 1t was
thought last year that there was dan
ger of OVERRIDING this feature of the
real estate market. but the avidity with
which salaried people have awaited
themselves of the opportunity of be-
coming land and home owners soon
evidenced that there would be a still
greater demand this year.
New additions are almost daily being
put on the market, and the various
owners report that sales of lots are
good. Most of the new additions re-
Gently put on the market are on the
east and the southeast benches. Thou
sands of lots in the aggregate are Of
fered to the investing public. One big
subdivision alone is as large as many
towns in the state.
The great amount OF inquiry during
the mast week will result, it is said in
many sales later during the month.