The Sunday herald and weekly national intelligencer., 1891-04-26
THERE is LESS BOOM
BUT THE SUBURBAN PROPERTY
MARKET Is IN GOOD CONDITION.
A Contrast Between This Year and Last
Figures That Those who Say There
Are Too Many Suburban Lots For Sale
Should Carefully Study.

The most casual observer of the local real
estate market must have noted the great
change in the movement in suburban property
this spring as compared with one year ago.
Then everything was hurrah, excursions and
skyrockets And in the excitement of the
boom many thousands of dollars in profits
were turned into the bank accounts of plung-
ing spectators, and the lamblike purchasers
of town lots ten miles from nowhere have
been industriously trying to grow @ new
fleece with which to cover the regular monthly
payments on the areas of dirt upon which
they fondly hoped to lay the foundation of
fortunes. Then THE HERALD and other
profitable advertising mediums of Washington
were showing page and half-page advertise
ments of sales with free-lunch accompani-
ments. Then the man. woman, or child who
hadn't purchased lot in Wood Hollow
Lake Heights wasn't sin it'' to any
great extent. Now all is changed In
stead of the hurrah we hear the quiet,
serious, business-like talk of men who
know when and how to nuy real estate,
whether it be city or country They are not
buying property promscuously, but everything
they invest in must have bottom and sell on
its merits, rather than on bombastic claims
and highly-colored prospects. The men and
women who are buying now are those who
kept cool during the boom of 1890, and, as a
result, they are getting in some cases prop
erty at prices below those of year ago. But
what is better than all, they are investing in
real estate which has future. Now there
are fewer spectators and more home-getters.
Now in order to sell suburban real estate the
agent must have something tirst-class at in
vestment prices. In a word, the market is
now in healthy condition, where year ago
it was highly feverish-in fact, delirious
The reaction that follows boom hurts the
speculator on small margins and the agent
or owner who wants to sell poor land at
high figure. But really good investments
are not going a-begging, and the shrewd buyer
is now going about picking up bargains from
squeezed land-plungers. The procession will
probably move at this rate for year or two,
then will come another boom and more lambs
will be shorn. But, after all, is there any
safer way to invest than in real estate And
in 80 per cent of the cases will not the man
who 'hods on'' realize profit on his invest
ment?
common remark on the street is that
''there are too many suburban lots OH the
market,' and the astute author of this pro-
found observation usually adds that 'there is
enough land subdivided around Washington
If built upon to accommodate city of five
millions of people, This is supposed to bea
squelcher. Being familiar with imost of the
subdivisions about Washington have done
little figuring on this broad statement, and |
find that within ten miles of the city there are
in round numbers about twenty three thou
sand acres included in subdivisions which
could make any claim TO be suitable places for
suburban residences
A recent report of the District Commits
sioners shows that within the limits of Wash
ington there are in round numbers about
$500 acres. If within this area there are
2500O0 people, packed as they literally are in
many streets with only sixteen front feet to
family, how are we going to get many millions
of people into the twenty-three thousand acres
about the city where the lots are fifty to two
hundred feet wide and where it is at least
hoped human beings will never be sardined
as they are in some sections of your city?
Indeed, the chief charms of suburban life
the privacy of the wide lot, the comfort of
breathing spot of our own, the pleasure of the
lawn and the bit of shrubbery-would be de-
stroyed If we introduced the rows of brick
piles which because of artificial conditions we
are obliged to call homes. 1t is safe TO say
that fifteen thousand people would comforta-
bly, occupy all the desirable suburban prop
erty on the market. All that is needed to get
many times this number into the suburbs is
rapid railroad facilities, and these are now at
hand.
Three electric roads are being built into
Montgomery Comfy, which is already sup
piled with one steam road, and another is to
be started in thirty days. The time Is not far
distant when the suburban or country home
will be as essential to comfort as the family
equipage is now, and choice locations will
command high prices.
f. BENJAMIN
azs~ Communications Of any kind, regarding
Real Estate, Building, and architecture, are
solicited, and wW be cheerJully received. They
mast be sent in not later than Thursday after
noon Of each '0eek, and addressed to Real
Estate Editor, Sunday Herald.