Show SALT LAKE REALTY T MARKET SHOWS L ACTIVITY Local Lod Dealer DenIer Declares ValAre Values Val Val- ues Are Rapidly Rising in and Around City i- i By D. D Carlos arIos Kimball f v At present the the real reat estate market shows show a a. marked ed tendency to broaden t n new w activity being manifested in practically every even phase of tho the real estate Business Farms small houses and rentals are very Yen much in demand t Th buy rs of farms during the past months months- have demanded im- im proved oyei producing Irrigated lands that WO pay returns the first year Unimproved Unimproved Un Un- l improved ri pr ned properties have been avoided avoid avoid- ed cI d. d because of or the difficulty and cost Of ji Clearing f leveling and ditching of such new lands The value of lands sold in the main has averaged 25 tier per acre Very Very fw buyers have have- been ablo able to pay cash The usual terms lave have av been 1 per er cent of the purchase price as payment and the balanCO balano bal bal- ano anCO In ance-In In ter equal annual instalments me trades have been made between between be be- tween farmers and city land owners The Th buyers are re in the main local people peo peo- pl pie living in Utah or southern Idaho Very few newcomers are found Usually Usually Usual Usual- ly Jy buyers are moving from one county t another but at present the tendency is S r farmers to buy from their neighbors Land values value's are rising rapidly due to the splendid crops produced this year the tho high prices received and also on account of the lower rate of inter inter- est Eastern money lenders have discovered dis- dis y covered that Vest Western ern farms are producing pro- pro clueing crops at lower cost than Eastern East East- ern lands and with fewer failures As Asa a a. result they are glad to lend their money at at 6 and 7 1 per per- percent cent in sections where farmers have been paying from 8 S to 10 per cent and sometimes more The federal loan banks offering at t 5 per cent have also had some ef effect ef- ef feet in reducing the rates rate of Inter interest st to farmers Because of the increase in land values alues It will soon be difficult t tp buy good farm lands at per acre on such terms as are now available There is a marked demand In the city for small homes and rentals and andIn andin andin in fact for Improved city property of all l kinds There are probably fewer new homes for sale in Salt Lake to today today today to- to day than at any time In the past five years The market has been fairly well supplied with moderate priced homes but there seems to be a a. shortage in cheap homes and higher priced homes We find fin more buyers with cash than thanin in former years There is a strong tendency on the part of successful cattlemen farmers and miners to move Into the city to take advantage of our school systems and so social ial opportunities Many people now living at Garfield are making Inquiries for homes in Salt Lake anticipating the improved transportation facilities that will soon go Into effect As a a. result of this movement toward the city there has d developed an acute shortage of rental properties This has made It possible for apartment houses to advance rents and it is 13 also causing an advance in inthe inthe inthe the price of cottage rents Many old buildings are being being- remodeled to meet the present demand People are living in buildings that heretofore were thought to be unfit unit for habitation All of these conditions can result In I but one thing and that is higher prices for real estate There probably was never a better time to buy real estate than now While prices for merchandise merchandise dise disc of every na nature ure have advanced real estate prices have remained the same This condition however Is not going to last Buyers must expect to see some very material increases in Salt Lake and Utah real estate prices within a a. very short period These facts should appeal to pe people who expect to own homes here as well as to Investors |