A common expression of visitors is that “real estate is too high,” and many decline to invest in property for that reason, only to repent not many months later when values have advanced on all classes of property. Six years ago the same opinion was expressed, and the prediction was made that property values would take a tumble, and that the “boom” would collapse. Even in the “hard times” of 1884-5 these predictions were not realized. Values were fully sustained, and as soon as the nation began to recover from its financial depression, Tacoma real estate again started upward, and is still steadily advancing. The lot that was “too high” at $50 in 1883, and again declared “too high” at $200 in 1886, is now worth $500. The same opportunities exist to-day to buy lots at $50 and $100 that will in a few years be worth ten times their present value. Property in residence sections is a safe investment. The Sawyer addition lies near the center of the residence portion and contains one hundred and ninety lots, sixty-five of which are sold. Water is on the ground and street cars are within two blocks, while the Methodist university will be erected within one block. Oakland addition lies in the southwestern portion of the city overlooking the natural park, and is most desirable residence property. Traver’s addition is but one-half mile from the city limits, easy of access by good roads, and near the present terminus of the steam motor line. This is most desirable property, and is selling at $100 per lot on easy terms. White & Ouimette’s addition lies one and one-half miles from the limits, near the line of Hart’s railroad, and lots are sold at $50 each on the installment plan. Five years from now those who fail to invest in this class of residence property will be regretting it as keenly as do those now who made the same mistake about $50 and $100 lots five years ago. The increase in real estate values is best shown by the city assessment roll. In 1880 it was but $517,927; in 1886, $4,092,119; and in two years has increased to a total of $6,555,433. There has been a general advance in all classes of property, and no matter how high it has ever seemed to be, it is higher now and will be still higher a year hence. |