Evening star., 1896-09-26
REAL ESTATE GOSSIP
The Renting Of Property Now a
Prominent Feature.
HOUSES ARE IN GOOD DEMAND
Increase in the Population, and
Property as an Investment.
SOME IMPROV NTS

Judging from the demands which are re-
ported by the real estate agents, the num-
Ter Of vacant houses in this city is rapidly
decreasing. The rental departments in the
various real estate Offices are just now the
active branches of the business and the
rent clerks are inclined to think that they
have a good deal of business to attend to.
AS the season for leased property is by no
means over the indications are favorable
for those who own property of this class.
Next month Is the time, generally speak
irg, when furnished houses will be in de-
mand, and the prospects are said to be
promising. The dealers report that there
has been no change in rents. and that the
prices which prevailed LAST year are those
of this year. Some three years ago there
was a scaling down of rents for a certain
class Of property, and " hile In some cases
the change was only Of a temporary char
acter. in others 1t has thus far been perma-
rent.
Demand and Supply.
The rental price of property is, Of course,
determined, like everything that is offered
for sale, by the demand, and where the
building of houses or business buildings has
gone on until the supply is greater than the
demand naturally there has been fall in
rents. 1t Is, however, said that property.
especially for residence purposes, which is
kept in repair and is offered at fair
rental is always in demand. There are, OF
course changes. either in the character of
the locality or in the building itself, which
has the effect of advancing or reducing the
rental value. and frequently these changes
take place without the knowledge of the
owner. He Is apt however, to be reminded
by the effect on his income.
Snfe Investment.
In this city, where the material develop
| ment has been steady and constant, prop
erty owners have found. a rule. that
changes have been Of rather a beneficial
| character. The progress Of population has
| resulted in Transforming entire sections,
| and this. followed by municipal improve
nients at various times, has naturally
caused prices to advance and with the rise
| in the market value there has been an ap-
| pr eciation in the rental values 1t may be
| said as the result of the experience of the
past few years of financial depression that
Washington real estate has maintained it's
place as a safe investment, and at the
| same time one that yields a reasonable
income.
! There is no question In the minds of
| competent observers that when what has
| been termed confidence" is restored-in
| other words, when money Is once more
set free and is available for investment
and for loanS-there will be a revival of
| the activity which, during the past decade
| has done so much to make Washington
| what 1t is. 1t Is no longer necessary to
employ arguments in support of the as
sertion that Washington is a most attrac-
| tive and desirable place of residence. The
| people of this country are very generally
| convinced Of that fact, and each year wit
| nesses additions to the permanent popula-
tion of the nations capital of people who
| ccme here because of the advantages
which a residence in Washington gives.
They Want the Best.
In this way it is possible to give a rea-
| scnable explanation of the practice, which
| prevails here perhaps more generally than
in any other city, Of erecting fine resi-
| dences for the purpose Of placing them on
| the market for rent. There is demand
| for such houses from people who desire to
| spend the winter here, and they have such
| ample means that they want the best. A
! good proportion of this class, after one or
| perhaps two winters, come to the conclu-
| siCn that they need a permanent home
here. SO that they either buy a house or
purchase a lot and erect residence.
| The additions to the population, however,
| are by no means confined to the class of
| people who are able to live in expensive
| houses. There are a great many families
| of limited incomes who find that they are
| able to reside in Washington, with due re-
| gard to economy, and at the same time to
enjoy the life here.
| Some improvements.
The tower Of the Twelfth Street NJ E.
| Church, corner 18th and E streets southeast
| VIII be remodeled and have an addition built
| to 1t by ]. H. Hunt.
! Plans have been prepared by ]. H. Nc
| Clinton, architect, for frame house. to be
erected on the Tenleytown road, Friendship
| subdivision, which will be three stories in
| height, with cellar.
Plans have been prepared by T. T. Quinn,
| architect, for a three-story brick dwelling,
! to be erected at SOS street southwest
| The front will be twenty-one feet and the
| depth fifty-five feet
| A two-story and cellar brick dwelling will
te built by Fred A. Volland at 1O3 Sd street
northwest The material used will be
| pressed brick, and the house Will have a
| frontage Of twenty feet and depth Of thirty
| feet.
b. F. Myers, architect has completed
| plans for two houses on Homead avenue,
| Mt. Pleasant. The dwellings will be sepa-
| rate, each sixteen feet front by thirty-flve
| feet in depth, with three stories and a cell
| lar. The fronts will be of brick, with
| brownstone trimmings, and each will have
| bay windows.
Ter, architect, for residence to be erected
| at 22O2 Massachusetts avenue. The struc-
| ture will be three stories in height with a
| basement, and twenty-five feet by fifty-one
| feet. The front will be of white brick, and
will have wide bay window.
extensive improvements and repairs will
be made in the property of S13 Sd street
| northwest by B. F. Smith.
Sons of Hermann.
Columbia Lodge, No /, Order Sons OF
Hermann, held its semi-annual election OF
officers Wednesday night. The following