Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-10-16
A Sale Of Business Property and Its
Significance.
some LIGHT ON CURRENT VALUES
What is Being Done in Renting
and Selling Houses.
SOME NEW BUILDING

A sale, which was of more than passing
interest, and which was closed during the
week, as announced in The Star, was that
of the property Ole 9th street. The sale
was made by Bedford w. Walker & Son
in connection with ]. B. Winner. real estate
brokers, for S. w. Woodward to Frederick
A. Schmidt. AS already stated in The
Star. the consideration named in the deed
was $4,000. and the property has a
frontage Of 10 feet inches on 9th street,
and depth of 1O7 feet, the price was
about SIS per square foot.
In this connection it is interesting to
know that as part of the consideration was
another piece of property, so that in this
respect the transaction was in part a trade,
yet 1t is stated that the actual price at
which this property figured in the deal was
about what the property sold for some six
or seven years ago.
AS is well known when a trade is made
In real estate, which is the term used In
reference to an exchange Of property, even
where there is money paid as part of the
consideration, the prices named for the
properties are generally higher than the
prevailing market prices and for that rea-
son sucn transactions are not regarded as
having any Importance in determining what
Is the prevailing market rates.
Eject on Values.
But in the case above mentioned due al
lcwance being made for the trade consider
alton, 1t is stated that the actual value at
which this property figured showed an ap-
probation over that which was obtained
LOT the property at a time when the mar
ket for real estate was rather buoyant
Ihls deal is. therefore, looked upon as only
announcer indication that in spite of the
stress OF the financial depression of the
past few years real estate values in this
city show no falling off, but, on the con-
trary, rather an advance
fhere is another feature of this transac-
tion which is OF Importance, and that is
Mr.. schmidt bought the property not for
speculative purposes, but to secure a de-
sirable site where he could erect a build
ing Tor his own business. He has been
carrying on business on the same block.
but nearer E street, and he is now having
plans prepared for the erection of a fine
structure, which will be especially ADAPTED
for his use. The upper portion of the build
ing Will also be fitted up for business pur-
poses.
The Demand for Houses.
People who are returning to their homes
after summer outing. or who have re-
turned, are occupied in looking for suitable
houses where they can establish their
households for the winter. Some of the
real estate dealers report that the people
who want houses to rent or to buy are not
as numerous as they would like them to be-
while others state that if their list of
houses was larger they would be able to
meet more fully the demands made upon
them. However that may be there is no
doubt that the number of vacant houses
In the city is growing less each day, and
while that is a usual feature of the real
estate market at this season of the year
still 1T is one that is of ever fresh interest
each recurring autumn season.
1t is little early yet for dealers to look
for any great demand for large furnished
houses, but it is expected that as the time
is drawing near when houses of this class
are needed there will be no lack of tenants
The Cabinet Houses.
With one exception all the members of
the cabinet are now located for the winter.
Secretary Bliss. who had decided on the
Wheeler house, at the southwest corner of
10th and K streets. as his home for the
winter finds that there is some misun-
Outstanding ,r about the lease. and 80 he
VIII seek another home. The Secretary of
the Navy, Mr.. Long, is occupying fat
at the Portland, where he expects to re-