Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-12-29
REAL ESTATE GOSSIP
The Opportunities Which the Market
Affords for Investments.
TIE CHANGES IN PROPERTY VALUES
A Promising Outlook for the Spring
Building Season.
NEW HOTEL ENTERPRISES

|
building site. AS an indication Of current
values the list of the building sites was
| regarded as Of great value. There was
| also another feature about this schedule
of prices which attracted attention. not
| only of real estate dealers but Of investors
generally. 1t was seen that there is good
deal Of desirable property within the
bounds Of the city which can be purchased
| at reasonable figures. 1t Is probable that
| this showing, which. of course. Is only a
l.partial one Of the property available for
sale. was a revelation to q large number
| Of people who have q vague idea that real
estate in the city is held at a high figure.
While 1t Is not claimed that there has
been a great depreciation in values. still
1t Is evident that the market rates are
much more moderate than Is generally
supposed. The opportunities which are
now afforded for those who have money
available for investment are undoubtedly
| exceptional in character, as will be demon
| strated. 1t Is predicted, in the course of
| the next veal. The speculative value
| which enters to greater or less extent
into all city property Is mainly to be de-
| Nelcped. 1t is thought, along the line of
improvements. 1t Is easy enough to figure
out the pront In piece Of land which
| Is to be improved by the erection OF houses
or other. buildings. The cost of the i'm
provements can readily be determined and
| the market price % the house when COM
pieted can be pretty definitely known and
| with this data the profit is merely a matter
| Of addition and subtraction.
Periods of Transition.
There Is one fact which such showing of
property values implies and that u.s. while
1t may be said. speaking generally that
certain sections of the city are favored resi-
dence localities, yet there is a demand for
houses in all parts of the city, and a de-
mand which insures a steady income from
| rerted property. The changes in valuation
of property in certain sections may be also
noted. At one time 1t appears that proper
ty Is allowed to run down, and the market
value has greatly fallen off. then there
| comes change, property values are re-
| viVed and starts again in the upward
| cOuree.' This transition period varies in
| lenAhk Of time, but in sections of the city
| wnIcfkare at all central IT is pretty safe to
say that such a change is SIMPLY one OF
| transition instead of being Of permanent
| character.
| There are several sections In the city
| where such change has been going on.
| Notably the section about the city hall and
the section south Of Pennsylvania avenue
ard west of eth street. The highest priced
property In the city was at one time to be
| found in both THESE sections, and while, as
| compared with the modern standard of
| property values the pendulum has not
swung back to the old position, still values
1
| er than at any other period in their history.
An Open Season.
| The present winter thus far has been
what is known in the building profession
as an open winter. 1t is possible in such
| weather to continue outdoor work in spite
| of the fact that the calendar indicates that
i the time for this class of work has passed
When building operations are active in this
| city and the weather permits, 1t Is not UNI
| usual to see buildings being erected during
| the entire winter. With the possible excep-
| ton of a few days there Is no reason why
| outside work should not have gone on dur
ing the present season without Interrupt
| ton.
There is not. however. q great deal Of
building In progress, but that is not due
| as may be inferred from unfavOrable me-
| neurological conditions, but to the causes
which affect the general business world.
The indications are that the coming spring
will witness a change in this respect and
that not only will there a more pronounced
| revival in the real estate market, but build
| ing operations will become more brisk 1t
| Is not anticipated that there Is to be any
81, 1T boom. but 1t is believed that the
current business will be much more ac-
tive.
New Hotel Enterprises.
The hotel facilities Of the city are to be
| increased at the beginning of the year by
| northeast corner of Pennsylvania avenue
| and 18th street. There has been a good
| deal of talk about erecting a large hotel
| building which would be in point of size
| and appointments the leading hotel in the
city. Several schemes have been started
and there is one now under consideration
which the projectors are hopeful of reach
| ing a successful maturity. This latter
scheme contemplates the erection of
| large building In central locality. The
rev avenue hotel Is Washington enter
prise and represents the expenditure Of a
large sum of money.
The building. which was substantially
built several years ago, has been thorough
ly overhaued and renovated and has
been decorated and fitted up IN fine style.
1t is believed that this building will COM
pare favorably with any building of a
similar character I'm the country. 1t Is
designed to meet the wants Of the large
and growing class who come to this city
each year to spend few days or weeks.
The central location Is a valuable con-
sideration, and this. in connection with
the liberal and progressive spirit mani
Tested by the projectors, are features which
indicate a promising future.
Now that the social season is opening
and entertainment and social functions of
various kinds are contemplated by the
hospitable residents of the city. the ia
cilitiN5 of private houses for such af-
fairs are perhaps being more closely look
ed into than at any other time. The ar
with the pleasure Of the guests on such
occasions, ard any device which separates
the incoming from the outgoing guests
and prevents jams at certain points is apt
to be highly appreciated. In most of the
private residences which have recently
been erected 4 provision is made when
at all possible for two entrances. This
is accomplished either by having two dis
tinct approaches to the parlor floor from
the outside else by utilizing the base
mcnt and making special entrance
through that part OF the house 1t is not
supposed that interior arrangement
of this character is possible for houses Of
moderate size, but neither would 1t be
proba BILE that those who occupy houses Of
this character would invite each and all
of their five hundred friends to their
homes on the same date.
Building Record.
The building inspectors record for the
past week ending yesterday shows that
six permits were taken out for the erec-
ton of new buildings. aggregating in cost
$2545OO. This was divided among the sew