The times. [volume] (Richmond, Va.) 1890-1903, 1896-01-01
REAL ESTATE MARKET.
IRIS pREsFNT CONDITION rs coon
AsIOTLD RI EAPLCTED.
What Wen known Richmond Agents Have
10 say-They Look For IN Improve
Ment During the Coming Year

Mcut During the Coming Year
The real estate market IN Richmond
during the past twelve months mas en-
countered many difficulties which were
calculated TO injure it 10 some extent.
VI when the outside conditions arc
considered. there has been equally 's
good Il showing as the real estate men
expected. and they are of the opinion
that the year 1875 viii show improve
ment ,.,.
eoiow Will be found interviews with
several OF the most prominent Ieai 'a-
tate men in tho city
j. THOMPSON BROWN q GO.
The real estate market OF Richmond
for the past twelve months up 10 jan
uary lst. has been very quiet ana Hui'
with almost an entire absence of tine
spocultlte spirit What business mas
been done. ana g. now doing, Is done
upon the basis of a reduction in values
of at least 10 per cent upon medium
grade property. Iirst-class improved
property is holding its own.
The fact that "a large quantity OF our
speculative property IS held by charter
ed organizations Of financial SreHb"
has done. much 90 keep the same ont OF
market thereby preventing the deires-
sion of prices that would have otherwise
occurred during $780,
Considerable trading in the exchange
OF real estate has been done. which IS
always the result of depressed market
for any length Of time.
Possibly We may not Doe wrong To say
ing that considering the political. fnan-
cial. and industrial disturbances OF tho
country during 1895, the real estate mar
kci of Richmond has held IT'S own, and
the business in this line has been ass tood
as could have been expected We can
safely say that the prospects in the ie"l
estate market for 1896 are truly en-
couraaing. And we think that we are
sustained In his assertion from the iact
that Richmond starts out this year Win
the magnificent Improvements IN the
way of large public and private buildings
erected in 1895. and the fact'that there
are already iu view for 1896 Improve
ments amounting to nearly three million
dollars the new Theological Seminary,
the new traction railway across the
entire breast Of the city. and whatever
may matcrialize out Of the hcwildering
scheme Of the Chesapeake and Ohio rail-
! road.
SUTTON & co.
The real estate business has not been
particularly active during the past twelve
months, and values i'm some localities
have deprecated somewhat, bnt ON the
whole prices have kept mp remarkably
wei. and we do not know Of amy dee
sirable property. well located, that can
be- bought for less than it's fair valuation.
The hard times and scarcity Of money
has forced so many persons 20 cuiiah
family expenses and I'm order 10 ttt
lower rents. larger number OF iaIhlllca
arc now living I'm rooms or parts oI
houses who formerly occupied house
I D.. ia. NI.f ID
has consequently thrown "a great many
houses ON the market for rent and MAX
ing renting a little dun has very natural
| IN deferred some persons from putting
their money I'm real estate as an invest
/ mCnt. But with employment ana Idlr
prosperity 10 the renter. the demand for
houses will bee sufficient TO fll mp The
vacant ones. and with am activity in
renting viii come an activity in the sale
of real estate. Whether we shall see This
change this year OR next year we cannot
say, but can only hope that ~ may come
very quickly
CHEWING q ROSE.
The real estate market during 1886 has
been anything bat satisfactory. The prln-
cipal sales We're forced. Many opportu-
mites were taken advantage OF by men
Of speculative turn, who VIII harvest
handsome profits. The prospects for real
estate in the year to come Isl Tar brighter
lhan "a real war between the United
States and England. Very few people
outside Of active business pursuits have
The lomotest idea of the thousands upon
thousands of dollars that are nu" With
held from our banks and deposited DO
family chests and stockings by the
very umid. who have 100 faith not even
in themselves Therefore is lt not rea-
sOnable 90 suppose that these holdings
will soon Doe di-lodsed and invested in
real estate We are almost daily ape
preached by persons who. 10y the sweat
of their hrOWs. and hy dlnt of care, have
accumulated their small savings which
they offer for good mortgages. our
real estate agents are powerful factors
Ina this community and have done their
ruu share in the upbuiiding of Our city.
And as the wise man teaches us 90 bee
ware of an of whom everyone speakctn
we'll. we viii rest content by being
Stunned hy those who hate us, ana con-
tinue TO love and serve those VINO trust
in us.
In conclusion we would advise prcs-
poctive investors 20 put their moeny in
Richmond real estate. "a commodity which
boldly stands forth and riehteousiy pro-
claims its title of king of an investments
of To-day. To those who are tired ana
weak in the faith. we would say. Select
your agent and we know of none more
capahle than our Richmond agents to
give sound. conservative advice.
r. y. CHAFFiN & co.
CITY real estate while NOT active has
held its own remarkably well. especially
where private sales have been made.
richmond real estate never bad boom.
and for that reason the depression has
not been so marked as other cities have
shown Now is the um' TO invest DID
CITY real estate. ami particularly outside
proporty. as the sixty miles of electric
railways must cause demand for outer
living property The outlook for country
nronertv was never better our Mr..
Chafin has made several visits TO tint
North and West in the last ninety days,
going as far as Nebraska. Iowa, ana
ether Western States. our cheap lands
delightful climate. and eood home markets
are attracting thousands of Northern
and Western people. and 90 Our people
viii lust step croahng they viii soon
find buyers for their surplus lands
We have sold TO larger percentage
Of land seekers within the last Few
co. H.FsIE IONS