National Republican., 1883-04-25
q THE REAL ESTATE OUTLOOK.
What n Prominent Firm Says rs to IN
Prospects for the Spring Trade.

What Prominent Firm Says as TO the
Prospects for the Spring Trade.
With keen appreciation for all that is of
interest to our readers and that affects the
welfare of our city, REPUBLICAN. reporter
dropped in at the Office of Fitch Fox & Brown
for the latest developments in real estate
matters, the result of which, is hero given:
" Have you affected any important sales
recently2'
"Yes, we have within the last thirty
days, disposed of over $500, 900 worth of prop
erty most of IL uhimproved and lying in the
northwest section"
"Do tho purchasers intend to improve
their lots2'
Yes; in several instances"
Upon what plan will the buildings be
constructed2"
Many of the residences will bc detached
villa style with hall in tho center, and will
be commenced at an early day."
do you consider that there is a genuine
boom in real cstateYn
:" There undoubtedly is. The purchasers
are OF different character from what they
were IN the flush times from 1869 to 1873
Then we had no difficulty In disposing Of inn
proved property In the central portion of the
city. Now the large sales are principally
made 10 parties seeking unimproved property
IN the northern aud northwest sections of the
city"
Arc the purchases made mostly by our
own people or non-residentsY
Equally by residents and wealthy per-
sons from other parts Of the country"
You think then that this is healthy
symptomg"
Certainly. These purchasers have as n
rule accumulated their fortunes, and come
TO Washington TO enjoy the mild climate and
the advantages offered by its society"
What do you think Of real estate rs an
investment as compared with good paying
stocksY'
with the low rate of interest on United
states bonds, real estate Investments care
iully made are much the most advantageous.
We know ofa great many purchases that
have been made purely as Investments by
many of our most cat eful citizens"
II infer from this statement that YOU
can recommend parties who seek your coun-
sci aud Judgment, to place some of their
means In real estate in Washington, with
every confidence that IL will bring sure re-
turn2"
We'll, we will give you several instances
that will serve 10 show the basis of our conf
dencc. In the summer of 1881 u friend called
upon us with view of making u real estate
investment upon our Judgment, and decided
20 purchase unimproved property. He made
an outlay of about $4,000, and went west
About six weeks since we had the satisfaction
Of depositing to his credit in tho bank the
sum of 5000 as his profit on the investment
In an another instance within the past week.
upon an investment of $4,000 made only ten
months ago, we have returned to the party
over 5000 profit in addition to per cent.
interest"
Are not these rare instances of good
fortune?"
mo; purchasers of lots in what is known
.af
per cent, and many doubled their money
within year. This is true of many other
lots and entire squares of grounds in the vi
cinity of Dupont circle"
"Do you think there is any foundation
for the opinion entertained by many that the
building Of small and medium. sized houses is
overdone in our cityp
mo. There has not been q time since we
have been in the business when the demand
for such houses was 80 great"
To what cause do you attribute the pres
ent growth and prosperity of Washington?'
After its wonderful climate and we'll
known peculiar advantages, socially, &C.,
principally to the efforts of real estate men
and the favorable comments of the newspaper
press. Real estate men have always stood in
the front rank with those who have had the
welfare of tho city at heart. They have
drawn capital to our city, and have induced
many a wealthy man from the north and east
to invest in Washington city property"
"What is the prospect for the coming win.
tsr?"
"Most excellent. In our Judgment il
will be the best season that Washington has
had for many years In the first place it will
bc the long session of congress. Many new
senators of large means are to take their seats,
and we hear that most of them intend 10 SEE
cure homes. Several new members of the
next congress have already purchased expen.
sive residences We also know of quite a
number of people in private life, but of large
MEANS who have made purchases and intend
to spend the coming winter in Washington.
With the removal of the apprehension about
the malaria by Che improvement of the Po-
tomac channel and the dispersion of the pr-
vate guides and monte men, we were never so
sanguine as now that we are on the
high road to prosperity, and that
our city will soon have that population to
which its peculiar advantages so justly entitle
it. We need a continuous drive from the
capital TO the monument, and then boulevard
along the river front similar to the Thames
emhankment or the sea drive at Marseilles,
via tho national observatory grounds (where
the Garfield monument ought to be), to the
Analostan boat house, TO New Hampshire
avenue, and thence along this avenue to the
Fourteenth street road, and thence along the
brow of the beautiful hills overlooking the
city to the westward, from which view can
be obtained of one of the loveliest cities in the