San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1923-04-01
LOTS CHEAPER
HERE THAN IN
ANYOTHERC|TY
iCosts Comparatively Lit
lie to Live Here, Says
H. E. Dickinson.
IOMESITES $4,000 LESS
But Real Estate Man Cau-
tons Against Ex-
travagance.
AOMESITES $4,000 LESS


sidered by the prospective home build
err. says ii. L. Dickinson, real estate
man. He compares Dallas with San
Antonio and points how the same
class of subdivisions are being opened
there as here, and the price of lots
here is $4,000 compared with lots
there at $4,000. despite the fact that
both the subdivisions in comparison,
have the same class of improvements.
He advises against the purchase OF
lots in new subdivisions for specula-
ton. against the purchase of real
estate beyond ones means and living
beyond ones means.
Much To Be Thankful For.
1T does a fellow good TO listen
TO men of experience tell about the
city in which they live. a business
man from Dallas dropped into my Of
flee the other day and at first l be-
gan to shrink into small insignlfi-
canoe in my own personal OPINION
after listening awhile to the Dallas
WAY of doing things, until the thought
came to me that we San Antonians
had much to be thankful for, even
though we sometimes do not appre-
ciate il.
"This gentleman gave a description
of the building of Dallas residential
sections in the development of SUBJ
division promotions and his talk il
Illustrated n great difference between
the cities and in the financial condi-
ton of the people.
1.-The land surrounding Dallas, like
San Antonio. is being cut into subdi-
Visions to care for the growth of the
dity, but these promotions are of n
Nigh grade, providing every city i'm
provement such as water, electric
lights, sewers, gas, sidewalks, curb
ing and paved streets with strong
restrictions not only as to residential
requirements but as to the buyers
themselves. This kind of promotion
is possible in Dallas, where a large
part of the population is high salar-
led and can afford higher priced
things. Subdivisions in Dallas with
This kind of development Rave a ready
sale of lots from $50 to 500 per
front foot, or price from $1,000
to $4,000 for n lot with a 50-foot
frontage and this means : home at a
minimum cost Ct $4,000.
Lots Cheaper Here.
How many people are there in San
Antonio who can afford to think OF
a
and this only :: average priced
home? Subdivisions or new residen
tial sections of Dallas of this descrip
ton are being promoted on the ex
IRENE edge If the city and beyond
Let us make a comparison; the sam,
kind of residential sections in oui
city have the same kind OF improve
ments, with lots selling at $1,000 ana
less. 1t is possible in San Antonio
to buy lots fully improved between
$500 and $1,000 equal to $4,000 lot:
in Dallas.
"The Dallas high priced promotion
is made possible as he profits in this
class of promotion is attractive tC
capital as well as 10 the promoter
For example. the cost of land is $1,000
per acre. Or $500 per lot and the
entire improvement will not exceed
$500 per lot. making the average
cost of lots $1,000. These lots sell
ing for an average of $4,000 each
gives a profit of $4,000 per lot and
subdivision of 500 lots can show
gross profit over and above the cos
Of land and improvements of 81 900,
600. San Antonio has not reached
this stage of subdivision promotion
and consequently subdivision promo
ton in San Antonio, is not an at
tractive financial proposition; il
does not speak in large enough figures
Subdivisions with lots selling a
$4,000 and over have profits run
ming into money attractive to people
who deal in finance.
Should Put Up Bond.
There are not enough high-salaried
and big income people in san An
tonic TO absorb :. great number oil
high price lots as evidenced by the
numerous choice lots in high priced
locations unsold and unimprOved. In.
vestors do not speculate in high priced
lots. This class of real estate is
purchased for building purposes and
high-priced lot means a high-price
residence.
sin Dallas, it is necessary to have
the subdivisions fully improved be.
fore offering lots for sale as the DIAL
las people will not place much con.
fidence in promises aid this is best
where lots are TO be sold with i'm.
provements. In California, improved
lots cannot be offered for sale OF
promises; the promoter must guar
antee the improvements by a bond
or the improvements must be placed
before the lots are opened for sale.
Lot Speculation Poor.
purchasing lots in new subdivi
sions for speculation is a poor in
restment, both for the Spectator and
the subdivision. A Spectator does
not improve his lot by building on IL
and many lots like this, holds back
development. 1t is tho building w
of a residential section which MOI
\ only establishes lot values, but in
: creases values. We have made il 9
/ policy in our business to discourag,
spectators and many times we have
asked lot buyers IL their purchase was
! for home building purposes or specu
lation and discouraged the specula
tor. When we know that lots ar,
in the hands Of people who are hold
ing them just to realize profit we i'm
mediately try TO find home buyers
for these lots who are willing to pay
a small profit in order to secure tn,
location they desire and in this wa5
we get our lots ont of the hands o
SPECTATORS and our additions buil1
mn rsnidly New suhdiviSionS wei