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Show The real estate and nioitage loan situation in the region of Denver is summarized in a m inner very interesting inter-esting to eastern Investors by a corres, ondent of the New York Sveniig J'oti. Tbu writer's conclusions conclu-sions are that there is now but little Inducement for shrewd real estate men to give much attention to the West. "There are two sellers to every buyer." Bales of interest are falling; 6 per cent is thcruling price for money on mortgage security; in many cities there is no dimand for money on mortgage loans; in smaller small-er towns loans are occasionally made at 6 or 7 per cent. Values on western property are largely fictitious, ficti-tious, i&rticularly residence properties. prop-erties. There is too much booming; "additions" and "extensions" are staked out on tho prairie two or three miles from town, and the lots are o tiered at fancy prices. " Let me," says the luC$ correspondent, "advise any ono who is offered lots at from S100 to $150 to offer to buy by the acre It will always bo good for pasture." Good business irop-erty irop-erty In prosperous western cities is held at prices that will return about the same income as if in New York or Boston. It is only those who gel in on the "cellar floor" of "booms" who make money in western real estate now, "and the chances for an eastern or foreign Investor getting Into the schemes through which large sums are realized is very smaU.'' |