Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-09-07
REAL ESTATE GOSSIP
Money Seeking Investment in
Houses and Lots.
A RECENT EXPERIMENT IN BUILDING
A General Demand Among Tenants
for New Houses.
THE BUILDING RECORD

The healthy tone that has characterized
the real estate market in the District for
the past few months shows no indication
OF iessening, but on the other hand. IT ia
plainly apparent that 1t promises to grow
in vigor. The private balances I'm hanks
usually present the most truthful barome-
ters OF the condition of real estate. he
cause 1t is naturally the chief channel
through which idle money flows to seek in
Vestment. Taking the local financial feel
ing as a basis therefor there has been in
'he very recent past a substantial amount
oi capltai diverted to profitable ends in the
purchase of city and suburban real estate.
especially of an unimproyed character
Consequently there is what may be regard
1 9 as ughthess in the money circles
PERSONS desiring to secure loans on pron-
erty md ii somewhat difficult to do so r.
~ not because capitalists are chary about
na,,sa s go 80 OF their funds. but simply be-
cause there has been a general Investment
aready IN promising properties and there
IS not sufflcient balance held back to make
lesolauon on the part of those who de-
sire ioans as easy as heretofore
IN the immediate past the most sienif
eaht pulioing operations have been going
on IN columbia Heights and at West Ecl.
ington. ee' LIN
An Interesting Experiment..
An experiment which was commenced
several months ago in a subdivision ON the
bcrder of the city and which has heen
watched with much interest by builders
mas been completed and is regarded nv
thcse who made it with much satisfaction
Las. winter company of capitalists deter
HiEed TO see what could be done n, the
District in the line of erecting houses of
moderate Size but equipped with all the
ccnVenlences and attractiveness of more
pretentious residences. The class of DWELL
IuI In the vicinity of Philadelphia and New
york. Sixteen SiX-room houses with hut.
ier's pantry, bath and cellar were, there
Tore, put up. They were finished in the
same style of material and workmanship
that enters houses costing $4,000 or $4,000
Inc bath rooms were tiled and fitted with
porcelain tubs. Hand carved cabinet man.
tells with French plate mirrors, handsome
ly decorated walls and ceilings, electric
lights in imported chandeliers, and sanitary
plumbing were introduced. These houses
were to be sold for $500 or rented for
$50 per month. They have just been com
pleted. and seven have already found pur-
cEasers. The experiment has been so sue
cessful that the capitalists have determined
to build fifteen more houses like those al.
ready erected on the same street.
New Houses I'm Demand.
The general building trade is increasing
despite the lateness of the year. and the
class of houses being erected is better than
heretofore
This is due to the fact that builders and,
investors recognize the almost universal
demand OF those in search Of dwellings or
residences to rent new houses. There is a
very stiff and steady inquiry for residences
of this character, while old houses find few
expectant tenants who are willing to even
SO much as look at them. A walk through
any Of the sections of the city where the
houses have been standing for any number
of years shows numberless for rent" signs
inside of closed windows or tackled on the
doors. The same conditions do not exist SO
strikfngly in the newer portions OF the
city: The general acquaintance which the
public now possesses with the Importance
of improved plum bling and the prime neces-
sity for proper hygienic safeguards in and
around dwelling houses probably accounts
for the hesitation of house hunters in rent
ing old houses.
With the rev and rapidly increasing IA
cilities for quick transit. house hunters are
going to the outskirts of town, where they
canrot only secure dwellings in keeping
with their incomes but crafty their desire
for new houses as we'll The expected COM
pietion next spring Of the electric system
on the Capitol Hill branch Of the Metro
politan road has increased inquiry for proD-
erty lying north of East Capitol street and
in the vicinity of Lincoln Park, and
healthy growth in the number OF medium
priced houses in that vicinity is looked for
in real estate circles.
The Building Record.
The record or the past week SHOWS a
total of nine new buildings at an estimated
cost of 1850. The northwest gets the
bulk, six permits, at $4,000. The county
got two new houses, at s1,750, and the
southeast had TO content itself with
stable, at 500.
Senator John Sherman is building two
handsome suburban dwellings. One is To-
Gated at 3G0S Newark street and the other
at 1926 Folsom street. Pelz and Carlyle
are the architects, and p. T. Gormuley the
builder of the first house and John Simp-
son the builder of the other.
J. J. Menahin is building at the north
west corner of Sd snd Q streets hand
some store and dwelling two stories high.
with cellar. VIM. Eslin is the architect.
Three new two-story dwellings are being
erected at 80, 35 and 81 Q street northwest
for D. b. Gottwals and F. E. Middough. A.
B. Morgan is the architect.