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

Il
rum 10 10 SD per mouth-and they pay
gpod return for the Investment"
lis this Increment confined to one section
Of the city?"
'-No, it is very general, and great deal O
brick has been laid during the winter under
stand that the brick company here start out
this spring without brick. They have sold
their stock out.
| THE OUTLOOK GOOD.
Mr.. Fitch, of the real estate firm of Fitch. Fox
& Brown, was placed under the receiver of the
interviewing exhaust pump. with the following
| result:
'what is the outlook for real estate this
spring."
| ut is now good and promises to be still bet
Ter as spring advances. Attention is being
largely turned to the suburbs of the city and q
demand Is springing up for the many handsome
villa sites overlooking the CITY,"
"Are these transactions confined to residents
OF visitors at the captal7"
Real estate purchases are largely made BY
| strangers who are attracted by the unusual ad-
vantages of our city as q place of residence
Much is bought, too. as an Investment The
number Of men of large wealth who have settled
among US during the last twelve months has
| exceeded that Of any previous year."
what is the Indication for building opera
| lions this season 2"
1.-THE late advance In the price Of material
and OF labor, will somewhat affect building
| specuiations this summer. but q large number
Of fine residences are contracted for, and the
usual number Of buildings will probably be
| erected"
''How does the activity in this direction com
pare with that of last year ?"
ut is quite equal"
sis the demand for houses lively?"
ut was never betteB-the demand being quite
| in excess of the supply"
"What is the character of this demand ?"
1.-THE greatest demand is for houses ranging
in value from $40 to $75 per month"
SIN what locality have some of the handsome
residences been built recently"
"Of course the greatest building is towards
the northwest, but all parts of the District are
now sharing the Improved feeling in regard to
real estate. On K street there has recently been
commenced handsome residence by Gen. Mich
| olas L. Anderson, Of Ohio, which will cost about
$40, 600. Another fine residence in the same To-
eality hassbeen contracted for by Mr.. B. II. War
ner of this city. All of street in fact, at least
| as far west as 18th, will soon be handsomely i'm
| proved"
THINKS THERE WILL BE GOOD BUSINESS THIS
SEASON.
Mr.. ThOs. ]. Myers real estate broker, said in
| reply to query on the same subject: 81 think
that there is prospect good real estate bust
ness this season. The only difficulty in the way
Is the great rise in the value Of labor and mate
| rails"
DO yOu IeSSHIu luis rise as peI0auenL!
mo, don't think that 1t is. don't think
that they can hold it. The carpenters have been
getting $3.50, now want So; the bricklayers from
% and 50. so now demand "a, and the hod-car-
riers from $1.25 and $50 want 80. The effect
of this advance is to make the purchasers OF
unimproved property wait for lower prices In
stead OF going on with the improvements. This
will, in measure, serve to stagnate the mar
| ket"
Glow is rented property"
'There is great demand for medium-sized
houses this spring. This demand is far in eX-
| cess of the supply. and it would be paying in
| vestment to erect more houses of this character
me tendency has been to erect large and expen-
sive houses"
DEMAND FOR HOUSES.
Mr.. ]. V. N. Huyck says that the increase in
price of building materials and.labor has caused
great falling off in the building boom, but has
greatly increased the desire for houses already
built. Two little advertisements in THE STAR
| few days ago for two small houses for sale
brought over a hundred people DESTROYS of pur-
chasing to his Office in two days. Men
t who have plenty ,,s Of money are not de-
in cost of few thousand dollars. but persons
of moderate means are Inclined to hold off a
while. Building lots are considered good in
yestments, and are purchased by people who
think it more profitable to put their money into
OPENING VERY WELL.
SIT is opening very WELL" said Mr.. Chas G.
Duncanson, the auctioneer, when STAR repor-
ter asked him regarding the situation in the
real estate market. ''but the trouble is with the
workingmen. Contractors are chary about TAX
ing contracts, owing to the uncertainty of
prices, on account of the rise in material and
labor. One great trouble is that labor got down
to such low ebb last year in regard both to
prices and to competency in every Tom, Dick
and Harry going into it-that skilled lab0rers
were forced out of competition. am told that
great many of the best skilled mechanics have
gone to other places"
THE SPRING OPENING ENCOURAGING.
''The spring opening" said Mr.. Mark Latimer,
the well-known salesman at Dowling's, when
asked about the real estate market, sis en-
couraging. The market is pretty steady in real
estate, and will be healthy and active. The
best indication we have is that we always make
sales. There are ready bidders and first rate
prices, both in Georgetown and in this city.
When the spring season really opens after the
weather Settles l have no doubt real estate bus
mess will be good"
WHAT AN ARCHITECT SAYS.
STAR reporter called upon Mr.. C. H. Reed,
the architect, and asked him his views on the
building boom. He replied: ''The prospects for
splendid season were good, but the prices of
the different tradesmen have advanced so much
that the work has been checked" ''You see,'
said Mr.. Reed. ''there is plenty of work to be
done and have plenty of it, on paper, but the
builders were so elated with the success OF last
that they have advanced the prices at
least twenty-five per cent. It may look as if
were talking against my own interest, and per-
haps am; but don't like to have client of
mine pay an unreasonable price. Builders say
We want Chicago and New York prices, but they
don't realize that the cost Of living in those
cities is much more than here, and beside
the building is of an entirely different character
There the work often must be done.
man must have his store finished by a certain
time, and he is obliged to pay the price. But in
this city residences mostly are built, and the re-
| tired army or navy officer or the business man
who has put his little fortune In bonds thinks
he would like q comfortable residence "Mr
So-and-so." he says 'built that nice house of
his for $10,0 600, and l guess I will build one
| similar" But when he comes to investigate the
| matter he finds it will cost him S15, 900. "What
Is the matter?" he asks. Prices have adj
| vanced." s'Well, then, guess I'll wait. Pm
In no hurry. Government bonds are good
enough fsr'me, and I will wait till prices are
down."
$50 you see," said Mr. Reed, s'the building
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