Evening star. [volume] (Washington, D.C.) 1854-1972, 1882-04-01

arnnHt I'd tiR high tariff put on importation.
within Innings gar,pxn irIm manufacturers to the
EIlEiics., Wna hhsy Al au1ff by H. to the dlsad-
wGIi9Hsse Nf ahGge NM a4shEe d@ t1Ifdn
e E.gw ahDEt yUur own priS1te work.
A. Ixe have N Enrh as we can do, With
very sssd ITosperH fsr fhe season-"
VIEWS OF ZEAL EsTAEE xKx-
aThfTe ID BNe business doing now" said Mr..
Robert O. Hoffman, thercal estate broker, when
asked about the state Of the real estate market
and the outlook, ethan there at this time last
year. There have been more transfers, the con-
siderations much4arger, and the outlook much
better. The property in the northwestern sec
ton OF the city is going up. There would be q
good deal more building If it were not for the
belief that the cost of building is too great Still
there are more small houses being built than at
this time last year, and the general outlook and
prospects are much better than last year. Every
year the city is becoming more and more the
recognized winter resort of the country. 1t is
rapidly becoming to the country at large, for
winter, what NewpOrtand Saratoga are for sum-
mer. People are coming here from the north,
south, east and west this spring, and are looking
at property with the view of purchasing. In
some instances they say they are only coming to
stay here for two or three months during the
winter. but they want house to live in while
they are here. / have made more sales this
month than ever did before during the month
of March. Yes, the outlook is first rate. never
knew it to be better"
ANOTHER HOPEFUL VIEW.
"The talk about malaria during Gen. Gar
fields Illness" said Mr.. Brainard H. Warner,
real estate broker. to STAR reporter, 'may
have had some influence upon the purchases by
rich capitalists but all that would be removed
by the passage of the river front bill. The peo-
pie are looking to the passage Of the water sup
ply and river front bills. Capitol Hill property
will advance 20 per cent the moment the water
supply bill is passed. However. a good many
purchases have been made of both improved
and unimproved property, and more people are
investing In property as means of Investment
than have ever knownsbefore. A good many
small priced lots are being sold. showing that
confidence has returned to the minds Of people
of limited MEANS"
closed transaction with purchaser.
THAT lot which have just sold," he said to
the reporter, twas purchased last year for 81
cents per foot, and now it is sold for 60 cents
A good many more lots are being sold this year
in other localities than the north and west end
than during last year. There is considerable in
quiry for Capitol Hill property and it is antici-
pated that the purchase to be made there by the
government for the National Library will cause
large movement there, as well as in other
localities, as those who part with their property
there will have to be supplied elsewhere.
Property is cheaper now on Capitol Hill than in
most small cities Of the country, and there is no
reason why prudent purchases there should
not yield large return. The passage of the
river front and water supply bills would
be of great benefit. Continual large in
vestments of money by the government in
public buildings must greatly enhance property.
The government Is talking about new post
Office, and ola pension office and q record
Office. The passage Of the Senate bill providing
for $50 more clerks in the War department and
10 1,,kI
pension business, will involve expenditures of
large amount of money. Everybody who comes
here is delighted, and the rich people who have
come here to live are determined to bring their
friends. much better class of buildings are
being erected now than ever before; the style
of architecture is more attractiye and the mod
ern improvements more perfect. The rates of
interest on sales are very low and the terms
very easy. The rates of interest on deferred
payments are but five or six per cent, and
In some cases as low as ~ per cent"
SCARCITY OF SMALL HOUSES.
'The general prospect of building" said Mr..
VIM. E. Burford to STAR reporter, when asked
a general question as to the prospects, sis not
SO fiattering as it has been in former seasons
The majority Of builders build small class Of
property for sale-a class of houses that sell to
people wanting small homes, and to investors.
Several handsome houses are going up, and will
continue to go up In substance, a great deal
three months ago, more than thirteen hundred
of wealth is representedin fine homes built in the
last year or eighteen months by Senator's Repre-
sentativesin Congress and judges of the Supreme
Court that have come here during that period.
We have also had great deal of capital invested
here by retired wealthy men from all over the
country. The building in small property is,
however, much behind former seasons owing
to the scarcity Of cheap lots in good locations
in the northwest section Of the city.
G.rvr, hNll 49,
building material has advanced SO rap
idly, and mechanics are asking so much,
that builders that formerly put up houses that
would sell from g., 500 to "a 600 cannot afford
to build and sell them tor that amount of money.
l find that there is growing scarcity of that
class of property. Every day l have half a
dozen applications for property from So, 500 to
90, O00 81 600 and 81, 600. I cannot begin to fill
them. ! suppose if one hundred houses of this
class were placed with me for sale could find
ready purchasers. especially among investors.
have now applications for houses Of this class.
and have made inquiries and advertised, but
there are very few to be had.
''The scarcity Of small houses has been grow
ing for the last three years. and now, with the
increased boom In property in the northwest
held at Is to SO cents foot, has driven people
to building larger houses, and, as a rule, the
class Of purchasers that want to buy large
houses prefer to buy their own lots and build
Cilelr own houses, az tLey are aDle TO pay extra
prices to crafty their tastes think, however
that great many owners of lots are realizing
the scarcity, and. recognizing the great element
and more ready sale Of that class of property,
will come to the rescue find that there is q
large class of buyers of the better class of lots,
but principally confined to the northwest Sec
ton of the city,
''What do you think of Washington as q
place for investing in real estate?" asked the
reporter.
81 do not consider" replied Mr.. Burford,
''that there is any city in the country that offers
better inducements to investors than Washing
ton. in not only in ground, but in houses: first.
because our assessment is 81. so on the hundred,
lower than in most any other city of equal inn
portance; 3D. because the renting class here is
largely in the majority, and, as a rule, are
reliable, and Sd, because the general improve
ment of Washington is assured, from the fact
that Congress is beginning to realize that there
should be no stint in making the capital city
what 1t should be. The demand for property to
rent here is unprecedented, and if capitalists
would come here and buy ground and build
houses they would have no trouble in the
world in renting them at prices that wo uld
yield them handsome interest. Money is
drug at six per cent. We cannot invest it.
There is very little property, especially at the
prices mentioned, but would pay, at least, 8 per
10