Omaha daily bee., 1912-05-05
TIMELY REAL ESTATE GOSSIP
Exchange Committee Finds it Hard
to Price Buildings.
LODGES GO INTO REALTY GAME
Quarters and VIII Erect Build
ing while Seymour Camp,
w. o. W., Takes Old.

The efficiency Of the valuation commit
tee Of the Omaha Real Estate exchange is
coming to be recognized by property own
ers. not only In Omaha, but in points far
outside.
Every week more requests come In 70
the committee to estimate the value OF
various pieces. of property. II Is diff
cult work. but the committee has become
quite proficient in II. The matter OF
placing q price mark on vacant lot In
any portion Of the city Is comparatively
easy for them. Estimating the value
Of buildings. however. Is another task.
At this. though, the local valuation ex-
perts are not making any harder work
than the experts all over the country or
all over the world. are making Of IL. II
Is a fact well recognized by real estate
men, builders and private dealers in
properties, that to estimate the value OF
building one must take in so many
things for consideration that the intrica-
cies Of the problem seldom can be fer
reted out TO solvable basis or basis
from which an absolutely correct conciu-
sion can be reached.
The prices on buildings. old and new.
cannot be accurately placed. II building
Is brilliantly planned. built well upon a
good site all that can be said Of II Is that
IT may increase in value. In this case II
usually increases In value despite the
wear and tear OF time.
But the fact remains that the majority
Of buildings are not so subject TO such
commentator. Most buildings decline in
value and the natural Depreciation Is
materially aided by faults Of planning or
construction. or both.
In estimating the value Of q building.
the committee must take into cohsidera-
tion among the first things. It's lighting.
The stupid arrangement OF windows In a
building. necessitating artificial lights.
always means q demerit mark for that
building. Its value always declines, and.
In the majority OF cases. declines rapidly,
because. for one reason poor lighting sug-
sests poor ventilation and poor ventila-
ton poor health.
Another point Is the penury, or. not Ia
be 90 blunt or extravagant. the econom-
ical view OF the builder II has been said
that many buildings are so economically
constructed that their value decreases
UNTIL by the time they are completed,
they are not worth three-fourths Of their
cost.
As most people jump at the fancies Of
dress, there are some builders who rush
in with their plans and specifications 10
erect a structure according to the latest
architectural fashion. And like the fancies
OF dress. these buildings soon are out OF
style. Practical builders are those who
seek to construct an ediflce or house
that will suit the purposes Of It's tenants,
not only for today. but for long time
into the future.
These are some OF the points the valua-
tion committee of the exchange has "a
consider IN arriving at logical price fol
building. One little point that Is not sc
difficult to see. 10 the question Of ioca'
tion or site. In building. one should ever
remember that structure should not b.
too good for its neighborhood and, on the
other hand. a neighborhood should not be
too good for the structure. Such build.
ing always Is losing proposition.