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Show I SI THE' yPGRAOE Adolpli RioJtifcr, Who .Studios Uic Sanation, Tolls of Conditions. 0WN5&IS OF PROPERTY WAITING FOR PROFITS steket Is Strong, but the Num-, Num-, I) or of Salos' Is Small at Present Time. That Micro is a constnnt advance in the. valno of real estate in Salt Lake C'liy and an apparent indisposition on tlie part of purchasers to see. thai, the longer l.hey put oft" investing the more they will be compelled to pay for good liropcrty, is I lip. opinion of Adolpli Kichter, a prominent dealer in real es-late, es-late, expressed recently. The situation Lore is expressed in a few words, said .Mr. Kichter. "The market is strong, but the number num-ber or sales small. The owners of property prop-erty are. holding their property at a Ii igh value and the buyers seciu to be unable to appreciate the fact that in 7iiost instances they would be unable to obtain similar propertv in many other cif.es lor values very much below those demanded, in-other words, ronlc.stato values m this city arc as low as is com- patible rath the conditions in anv growing 'community. During the past two or thre.o years there has boon a steady advance in the prices of both residence -'and business propertv. This t hing is, the most .natural in the" world. As the demand for good property increases' in-creases' the prices are bound to go up, and as the city builds up there is a tendency for' property to increase in price 'in the,' best locations. Is Ilarncning in Salt Lake. "This is just what has been happening hap-pening in Salt Lake City for a good :m an j- months. Local investors, in manv instances, hold oil' in the hope that prices may bo lower later on. This will uot be the case. The city is pro-grossing pro-grossing ,too rapidly and the' health v and normal advance in values of real ,-nyperty is so great that, although there .5 no boom here and apparently uo Indications of u coming boom, there 'will still be a further increase in values val-ues which will continue just as long as the city continues to progress. "There is a big demand for choice building lots on the east bench at the present time," said Mr. Kichter. "Tho city is spreading out in that direction wonderfully." lie explained that 'there was a lame demand for llvc-acro I tracts by investors. The Pleasant View addition, formerly the Old Crismon property, of which Mr. liichtcr is exclusive ex-clusive agent, has been divided into tracts of that size and is being placed on the market at about $300 per acre. Mr. Tfichter also reports the demand for. building lots unusually great. In the, new Tooele district, he. says, the luimber of inquiries is too largo to keep any track of. On the qecasiou of the opening, -which will take placo on April 55, there will be a great number of people present from this city to take part in the auction. Mr. liichtcr has over sixty names on Ifis books for locations lo-cations at the present time. Mr. Richter comments on the cxccl-cnt cxccl-cnt outlook, tho demand for- good so-i-urities from investors, and tho tremendous tre-mendous number of calls from home-seekers. home-seekers. "1 consider Salt Lake real rstato tho best possible kind of security," secur-ity," said Mr. Kichter, "aud am confident confi-dent that the futuro will sec an absolute abso-lute confirmation of the present bright outlook." |
