Evening star. [volume] (Washington, D.C.) 1854-1972, 1883-05-26

BE OBSERVATION-DISCLOSURES OF PROPERTY n
OLD TINES, 20.
The expressions of opinion given BY leading
real estate dealers III interviews with STAR
reporters are all of the most encouraging char
acter to those who hold or intend to purchase
real estate In this ctys Even the more cautious
and conservative concur in the general opinion
that the market Is In a most healthy and prom
Using state. While there appears to be no halt
In the almost unparalleled growth Of the north.
west which has broken over the municipal
bounds Of the city, attention is now being d.
rected to the other portions of the city, and the
present movement Is not confined altogether to
one locality.
THE VIEWS OF MR.. FOX.
Mr.. Fox, Of the firm of Fitch, Fox d Brown,
was asked by STAR reporter: "What is the
present condition Of the real estate market?"
1--WE think" said Mr.. Fox. "that confidence in
real estate Investments is growing steadily"
"Can you name the peculiar features Of the
market3" queried the reporter.
with u.s." he observed, ''the investments
have been In unimproved land mainly. At the
same time we have disposed Of several valuable
residences, and have Inquiries for others"
HOW does 1t compare with previous years IN
your business experienced" continued the re-
porter.
sit is decidedly better than it has been at any
time since 1873" replied Mr.. Fox
WIN prices for land continue to adyanceS'
asked the reporter.
by the term land, we suppose you refer to
suburban property particularly" was the reply;
land we answer that for the present we see
nothing calculated to check the advance The
authorities should adopt without delay a gen
eral system for subdivisions Of land beyond the
boundary, and II the facilities Of gas, water and
street cars are soon afforded, as they doubtless
will be, we are satisfied that present prices will
not only be maintained but continue steadily to
advance"
I'm your opinion, is the movement In real es-
tate likely to continued" asked the listener.
1--WE think so. The fact is that Washington
possesses unusual advantages for real estate In
vestments over any other city. Its salubrity of
climate, the low rate OF taxation, the evenness
of its streets, and the beautiful ystem of parks
and public reservations combine to make it q
most desirable place Of abode. In addition to
this, the public school system Is unusually fine.
The government contributes annually a sum
equal to the amount paid In by the citizens for
taxes, and by the present law the debt Of Wash
ington can never be increased, except by con-
sent of Congress"
sis the demand for small houses and cheap
rents supplied?" continued the reporter.
1.-The demand for small houses" was the
reply. has been unusually great the past sea-
son: But we notice great many small aud
moderate-sized houses In process Of erection in
various parts Of the city. We believe, there
fore, that the supply will keep pace with the
demand"
CAPITOL HILL PROPERTY.
Mr.. Samuel H. Walker when asked as to the
condition of the real estate on Capitol Hill,
where he resides, said, "There is general look
ing up in that sections healthy advance
averaging about 30 per cent over last season in
prices. A number Of improvements are being
made, particularly in what we call The Dia-
mond'-that portion Of the hill bounded
by Maryland, Massachusetts, North Caro-
lima and Pennsylvania avenues, extending
from the Capitol grounds to Lincoln park IN
the square bounded BY Massachusetts, avenue,
B, 9th and 7th streets there are eighteen me-
dun e 2, sized houses under way, nine of them by
MIR. X. !. King, and scattered In the space named
there will be before the season closes perhaps a
hundred new buildings"
'Then, the boom Is not confined to the north
west?" suggested the reporter.
NO, not by any means" said Mr.. Walker. ~
should be applied to Capitol Hill, for the in
crease has been gradual, and is not spasmodic
ope but -goQi healthy one. think that many
who have desls to Invest in the northwest
have been driven away by the high prices asked,
the hill"
Mr.. Walker further said that he knew Of some
quite large sales made recently, and others In
progress, but the parties did not desire the facts
known at this time. There had been so little
was SO active movement 4 the comm ai sore
ers would open some of the streets from Cd
street eastward, the property would boom right
along: North street. beyond 4th, has not
even been gravelled, and but little sewerage has
done QYcpnt hv In tbo Inc
appropriation bill certain streets were specified
to be improved. with the proviso that those in
East Washington should be completed the pres
ent year. but excepting the expenditure on
North Capitol street not dollar has been spent
Many OF those building or about to build are
filling in lots and putting in sewers, instead Of
waiting for the District to do So
OPPOSED TO BOOMING THE BOOM
Il am afraid that the newspapers are injurng
the real estate market" said Mr. VIM. E. Bur-
ford, the real estate dealer. to STAR reporter.
"The -trouble is that the publications are now
calculated to do injury, because they convey
false Impressions as to the values of property
Property owners who have been away from the
city, or those who are not capable of forming O.
just opinion, conclude from what they see in
the papers that their property is greatly appre-
cated. You find that people who happen to
own house worth s. 600 think that they
ought to get $4,000 for it,"
1.-The difficulty is" Mr.. Burford continued.
that this impression will tend to change a
healthy condition of affairs as now existing.
into one that is feverish and unsettled l have
always gone on the principle that when could
turn over my money and make fair profit
would be willing to let some one else have a
chance to make something"
There is no difficulty about making sales.
he observed, land for cash. There is great
change in this respect during the past few
years. Five years ago l suppose that not
more than quarter of the sales were for cash.
The great majority paid part cash and gave q
mortgage at ten per cent Such a rate of inter-
est is hard on investors. Now, the rate is down
to five per cent but even then the majority of
sales are cash. The purchasers are not all
strangers either. A large number of citizens
are investing. l advertised some property in
The STAR the other day, and gentleman came
in and offered me within 800 Of the price for
the entire lot"
care prices likely to 60 higher7" asked the
reporter.
~ do not think that there will be any sudden
advance, " was the reply, 'or such condition Of
affairs as existed here In 1871 unless this BOOM
ing degenerates into q mania. Prices have about
reached their acme. All the land in the north
west as far as Boundary is now held by people
who are wa@ for rise in order to sell. This
occasions a movement in the property on the
other side Of Boundary. People who want.
L q