The Birmingham age-herald., 1924-01-13
TELLS PROPERTY VAL UE INCREASE
J. Murray Norment Says Bir- mingham Realty Is Modern
 Aladdin Lamps

J. Murray Ncrment tells the tale of piece of property on Sixth ave- nue which was bought\ at $15.O0o per hundred feet seven years ago and was recently sold by that party for s65,00O.
 Mir. Norment, Is one of the most en- thusiastic boosters of tho building on the other side of. Red Mountain. He has written c story about Bir- minghaen property which he calls "The New Arabian Nights" which goes as follows:
 "As we read the fabulous accounts in Arabian Nights we are impressed with the wonderful things claimed to have happened then. The people of Birmin gham possibly do not real ize that these wonderful accounts Tn a different way, have all come true in this district The story of Aladdin exaggerated for those wno have pur- chased well located real estate Tn Rirmin eham and have held on to IL until Birmingham began to come in- to it's own.
 Even now the range of the possi- bilities of this district is merely be- ginning to be realized On every
 
 who had the foresight to purchase central property. One instance l re- member-a purchase about seven years ago at $15.000 for 100 feet on Sixth avenu2 which was recently sold by that purchaser for S6o,ooo. In all the central area. purchases made ten years ago have not only yielded a fair income on the invest l. ment, but have enhanced in value from three 10 ten times the amount of the investment.
 Anywhere in the central distric, the small amount of money invested is turned into fortunes for the wise purchaser; also, in less degree nevertheless in a marked manner holders of outlying real estate' which 1 is well located for residential pur- poses. have realized great riches Oniy a few years ago Shades Valley had little value. The transp0rtation question was a big objection, and thls property was considered too Tar oc' to ever be & residential section. NO" it is blossoming out with the prom ise of presently being the aristocratlc residential district of the city.
 "The whole town has simply over flowed Red Mountain, and is cover ing the valley. The reason for all of this is apparent to anyone who will stop to think. It is but an aP- DreClaLlOH or our udlGi di iNocot There is in the Birmingham district enough coal and iron and other min erals used in connection with both or these to make 1t one of the greatest cities of the world. The Ruhr valley, in Germany, over which there IS 50 much contention, and any other rlch II ineral district you can mention mas TO advantages over this district. In addition to having all these minerals, we possess one advantage superior an any other. and that Is that they lie in close proximity and that their assembling cost is very low; thus, enabling this district to compete with any other in the world.
 "The writer, as much as ten years ago, looked forward to the time when retail stores would be on Fifth and Sixth avenues. and smaller stores on Seventh and Eighth, and this won- derful thought is just now about to be realized. A few years from now: we will look back and say: Isn't 1t funny--15 years ago we didn't have but 275.o00 population. and now we have 550,000; and it is admitted now that we will be In the million class before another quarter of century passes"
 "It is truly Aladdin's Lamp. How ever, in this case, in place of rub ping & lamp you merely have to pur- chase real estate and exercise little patience, because all that wealth can give you, will be assured to you.
 "In small way. those families who are paying rent can share in this source of profit bv becoming home Owners in any locality whatever that they choose to settle in; for the ad- vance in values in residential prop erty will more than likely amount to a substantial sum, and the home own- .r will be at least saving to himself and to his children the money he would otherwise uselessly pay out as rent"