Omaha daily bee., 1914-08-30
TIMELY REAL ESTATE GOSSIP
War Does Not Affect Activity of the
Real Estate Market Here.
LOCAL PRICES ARE STEADY
Considerable Activity shown In
Buying and selling Of Small
HOmes-Dcmand for Prop
erty il Good.

While the prices Of almost every COM
modify in the way of food stuffs has
taken some big jump since the war has
been in progress, real estate is stiu what
the live stock dealer calls steady"
IL is selling at a good steady figure.
The only way the war can affect real
estate in Omaha is by Tightening up the
money market so tight that no one can
get a loan. This condition has not yet
been brought about
For a time, when the war started,
there was some tightening of the money
market. The bankers got little frigh-
tened and the men whose money the
bankers handle got correspondingly
frightened for a few days. That was
largely because the news came over that
the Bank of England had raised its rate
of interest to 10 per cent. That threw
a scare into all of them All bankers
knew what that meant. Most conserva-
tive and the business men knew what
that meant.
Bank LOOsens Up.
Soon came the news that the Bank OF
England had loosened up a bit and had
let down the bars to a considerable ex-
tent on the matter of interest require
ment. So things began to flow on pretty
much in the usual channels in American
banking.
Loan companies are a little more care
full about loaning large sums than they
were a few months ago. That is only
a good precautionary move. That means
that the man who wants to borrow large
sums on real estate is given some whole
some advice to go slow, and maybe is
turned away gently to return again later,
Homes Change Hands.
There is a good demand for moderate
sized homes. number of these are
changing hands daily. Some of the real
estate firms in the city have had the
same word to say in the last three weeks,
respectively, 1--WE had a better week than
last"
The transfers are not confined to homes
alone Some big deals are in the air,
A few deals for apartment houses and
other property involving as much as $4,000
are in state of negotiation at this mo-
ment, and are likely to be closed in a
day or two Real estate men and specu-
lators have about decided that Omaha
is not to suffer siege by the allied forces
within the next six weeks, and that
Omaha real estate is therefore still a
good investment.
With the enormous crop in Nebraska
there is likely to be some good business
in the state this year. Omaha being the
metropolis and the market for the ham
ding of crops, as we'll as the live stock,
is a mighty good place to own real es-
tate. More and more people are realizing
that. 1t is a good place to make profits
on the advance in ground values. ANY,
one who don't believe this can get some
information from a man who has been
trying TO buy a home from a man who
got it for almost nothing a few years
ago.
Selling Dairy Farm.
Hastings & Heyden are beginning to
sell acre tracts of the old Post dairy
farm they bought some months ago, one
half mile west of the-car line in Benson,
During the last week they have sold
four of these for cash. The acres are
selling for around $1,000 This tract is
known now as Benson Gardens. The COM
pany expects to move about 10000 yards
of dirt at one corner OF the tract to bring
it more even with the rest and give a
better effect to the whole
Addition to Open.
Eight blocks of vacant ground between
Davenport and California, and west OF
Forty-third street, have just been sold
by the Poppleton estate. The deal was
made through Armstrong s. Walsh, ShuleI
& Cary purchasing the ground. They
expect to develop it and put on build
ing restriction that they say will insure
the building of good substantial homes.
Landmark Going.
One of the Oldest landmarks in the
city. the Clifford Patrick home between
Eleventh and Twelfth on Jackson street
is now being torn down. 1t is fifty-sever
wears old. 1t was built by clifford Pat
rick. Tom Harrington clerk in the city
health department is tearing it down. HI
has lived in the house forty-four years
He recently sold the property, but re
taNed possession of the house.