National Republican., 1883-06-16
A BREATHING SPELL.
There is Period Of Rest and Quiet in Real
Estate Circles,
Tho Past, Present, and Future OF the Mar
kct as the Dealers Sec IL.

lHo uen OA uullnoSs
in the real estate market. midsummer
stagnation seems to be slowly settling down
upon u.s." was the lugubrious observation Of
one real estate broker. Others, while COM
planning Of dullness, do not take such a
mournful view of the situation.
"The simple, unvarnished truth is" said q
leading dealer, there has been so much said
and written about the boom that holders have
allowed themselves in many instances to be-
come possessed Of the idea that their property
is of more value than the conditions Justify.
In other words, they are disposed to place
fictitious values on their holdings, and insist
on taking nothing less than outside figures.
The stand they have taken naturally fright
ems Off purchasers, and as n consequence tho
gap between tho price owners are willing
to take and tho price buyers are willing to
givo is hopeless gulf in many cases. There
has never been q time in the later history of
the city when there has been wider difference
of opinion between the buying and the selling
extremes rs now, and both sides must relax
the rigidity of their views somewhat before
there can be revival of the activity of few
weeks ago"
There has been too much said about the
real estate boom," said another. Owners
put their pegs higher and higher day by day
and week by week, many of them beyond all
reason, and buyers are holding off until they
moderate their views in a degree, and come
nearer union on a common level"
There is just as much inquiry as there
ever was,' remarked another, "but there is
moro property on the market and more to
choose from. Because every man who has o
lot or a house to sell can't go out on open
market and dispose Of II as he would block
OF stock or government bond he feels dis
contented and complains of dull times. 1t
ia ora1 hat H.
has been blown from the top but the
substance of tho boom is with us yet and
values are nearer the bottom now than they
will be in three or six months or six years.
Sellers are not extravagant in their views.
There happens to be good many of them,
that is ALL"
SO far as can be learned there have been no
notable sales during the week. The usual
number of transfers have taken place. how
ever, but nothing extraordinary has occurred
TO cause unwonted agitation The largest
sale reported is that of a tract of land at no
great distance from Columbian college to Mrs
Mckee Dunn for $4,000, but this trade has
not been formally concluded.
In building operations there is not much
TO record that is new. Architects and
builders are busy-too busy to talk, in fact
and that is one of the most encouraging fea-
lures of the whole field.
At Sixth and B streets northeast Mr.. Will
lam u. Particle has begun the erection of nine
two-story and basement dwelling houses, the
estimated cost to be S33,550.
On Fifth, between and O streets north
west, Mr.. Particle will soon begin the erec-
tion of two two-story and basement houses
press brick front, stone trimmings, bay win
dows, the interior to be finished in native
wood, marble mantels, heated by latrobes.
They will each cost $1,000. The same gentle
eman will soon build a row of houses on
Marion baf Givtb nd
streets, and two three-story brick dwellings
on Eleventh street, between X street and
Massachusetts, avenue. The latter improve
ment will cost $500.
The interest in suburban property" said
Dr. Prosbrey-" and by suburban mean that
which lies just north of Boundary--is some-
thing creator than has ever before been felt
here The property which we have especially
In hand is being disposed of to good class Of
people, and the same Is true of all the prom
erty on the heights which surround the city,
Yes" said a gentleman who was sitting
IN the doctors office, 81 can readily under
stand why people prefer ogo beyond Bound
ary TO investing in real estate. Take for in
stance the Stone estate or Columbia heights
Isn't 1t better TO be upon the hill, where you
can get good fresh air, than TO buy some oi
the vacant land nearer town, which is lower
and less attractive. Then, too, see the differ.
ence in price and the greater amount Of
ground one can get for the same money on
the hill"
II is stated that valuable property lying
in that locality will shortly be put on the
market which will perhaps give additional
impetus TO suburban real estate.
Mr.. Hill, who recently purchased the Co.
lumbar college building property, is pulling
down the old college building and improving
the former presidents house, which he will
take as his own residence He is willing to
wait for year. and he is satisfied that he
will then realize profit of $4,000 on his
investment.
II was stated yesterday that an offer o.
$6O,0OO had been refused on property lyinl
just back of Mr. Deans place, and containing
about five acres. The offer was about &c
cents a foot