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Show RENTABLE HOUSES ARE HHRD TO GET, SAY THE REAL ESTATE DEALERS Seal eetate moved slowly this week, tat not bo slowly that It would be designated desig-nated as such in many another place. It was simply slow as compared to -other weeks thus far this year. Although Al-though the sales were not as quick and lively as was expected, probably more - Inquiries for property were made than for some time. One noticeable feature in the market Is the sale of pood residence properties. Most of the places that have been sold lately range from $7000 to $15,000 in value, and there is still a strong demand for such properties. There are a number num-ber of persons now looking for residence resi-dence properties of this kindT At present there is still a great shortage in rentable houses. A trip through every real estate office in the city might not reveal one house for rent. Dozens of persons are about the real estate offices every dsv inquiring for rentable property, fiven office rooms are at a premium. Many well-known well-known firms are scouring the city for suitable offices. In many places they have been asked to move on account of the changes that will be made in the buildings that they now occupy. Helps Office Blocks. One thing that the building of the big office buildings at the lower end of the street will do is to compel the owners own-ers of other office buildings along Main street to raise the standard to that of the new buildings. There will be no trouble in filling the new buildings being be-ing erected. . Applications for rooms in the Judge building were made several months ago, and the same is true with regard to the-IVewhouse the-IVewhouse buildings. According to the increase of population the our new office buildings that will be completed this year will not more than accommodate accommo-date the horde of people that is pouring into the city. So heavj' is the immigration that rooming-houses are doing a thriving business, and nearly every place that can be conveniently used for this purpose pur-pose is being pressed into service. A certain lumberman declared yesterday yester-day that the companies are unable to keep up to the demand for material for building. His compauy, he declared, is selling more than it can get. and is continually con-tinually behind in its orders. 8o great has become the demand for lumber that it is impossible to meet it. The Utah Light and Railway company com-pany took out a permit for $12,000 in repairs. This work is to be done on the old Tribune building in West Temple street. Already a gang of carpenters and other mechanics is busy repairing and remodeling the building. As a reason for the confidence in Salt Lake real estate, a real estate man produced some figures this morning that are surprising. Although a large number num-ber of flats of being built, there still aro only half what is nocewary. At the present time persons who have built flats and apartment-houses are receiving 12 to IS per cent net on their investments. This is tremendous when it Is considered throughout the Union that any Investment in real estate that yields more than 6 per cent is a wonder. In cottages there is a good profit. Anything that cost from $2500 up is netting its owner from 7 to 10 per cent. It can safely be said that there is not a building in "the city in good repair that is ridding less than 6 per cent on its vaftie. The office buildings of the city are-making good, comfortable profits. Big Profits Expected. As one person says, with these large profits there are just two things possible. possi-ble. One is that everyone will rush to the building of flats and apartment-housfs apartment-housfs and overburden the market with their property, or the value of the property prop-erty will rie in proportion to the revenue reve-nue derived. Lsrge profits on an investment in-vestment will naturally raise the valua- tion of the investment to a point, where it is more equitable with the profit derived. de-rived. At tli e present time the lack of material ma-terial will hold buildinc down to the minimum. San Francisco building will drnw from the YWMern countrv, and it will be st. least ten years before the demand for. houses is fully met in Halt Lake City. With this in view it. is self evidcDt that Sail. Lake cannot help but move along the line of prosperity. |
