Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1919-02-25
REAL ESTATE IN
BIC DEMAND SAY
LOCAL DEALERS
Much City Property Is Chang
Ing Hands and There Is Also
a Good Market for Ranches;
More Houses Are Needed,

Albuquerque is not booming, but
the real estate market is more active
than II has heen for years, according
10 local dea'/ Residence property
is changing hands every day, and it
is almost impossible to supply the
demand. One reason assigned for
this activity is the scarcity of rental
houses and persons have been COM
PEELED to buy to get houses to live in
although a good many sales are be-
ing made to fasteners who have been
attracted here by climate and decid
ed to become permanent residents.
Everybody predicts that there
would be an Unprecedented building
program carried out were it not for
the fact that the cost of construction
has increased to such an extent, as
compared with pre-war prices, that
most folks are afraid to go ahead
now and are waiting for slump in
the cost of building. 1t was stated
yesterday that one contractor is SER
iously considering closing his shop
and not taking any more contracts
at present for the reason that when
he quotes prices on residences the
proposed customers throw ND their
hands and decide to defer building
until a later date.
Some real estate dealers hazard the
prediction, however, that demand for
houses is going to force some build
inc to be DONE also that. barring
some Unforeseen happening, there is
not going to be any noticeable de-
crease in the cost of building for at
least four or five years, if at all They
point out that America will he called
upon to aid in reconstructing France
Dali A1,,4 Il
mands for building mas erials pre-
cludes all possibility of any material
reduction taking place in this coun-
try for some time to come. Further
more, as there was practically no
/ building done during the war It is be.
lieved there is going to be such a re-
vival in the United States, even r.
prices are high, that all kinds of
building material will not show any
appreciable decreases in the near flu
ture.
"Our business IS so ncr cent better
than il was a year ago" said Al Cole
man of the National Investment
company. There is nothing to rent,
! consequently everybody is buying
You can't get % house to save your
! life. We haven't a thing empty"
! r. MeClughan, as well as others,
said there was quite a demand for
ranches. Mr.. McClughan reported
he sale recently Of a ranch on North
! Fourth street to r. r. Ives. for ST.
= 900, and another ranch located about
I four miles north of the city went to
another buyer for $4,000. Mr. Nc
= Clughan does not anticipate cheaper
! building prices for some time TO
come.
THE need for rent houses was new
or any greater" he said 81 haven't
i but one house on my list TODAY We
get calls for furnished houses rent
ting for $50 to SIS. whereas the de-
'rmands used 10 be for houses renting
i for SIS to S25."
i "A good many sales of CITY property
! are being made" said A. l.. Martin.
i 'If we could get building started we
! would have good year. We have
! calls for houses both for sale and for
rent but there is very little available
/ in thes rent lire. There have beer
1 more houses sold IN the last fourteen
months than in any similar period
since the town was started There is
! also quite a little demand for ranch
I land. Local persons are buying city
property, and newcomers are also
purchasing homes
Business with us is much better
: than ii was a year ago" said a rep
resentative of the City Realty com
pany. There is a good demand for
city property, and we are also selling
s. me ranches.
! Another dealer who asked that his
name be withheld said more property
; had changed hands in the city since
September / than in twelve months
: prior to that date The people are
afraid to build, he said, on account O.
high prices.
! 1--WE are more than satisfied witt
t our business" said Mrs Margare
: Medler There are lots Of requests
= for city property The city is sadl!
in need of more houses, both fun
5 nished and unfinished
: A Fleischer also reported an actiy'
: demand for city property.
s our business is much better than
: it was at this time last February,
/ he said.