Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-09-15
REAL ESTATE GOSSIP
Demand for Rentable Houses is Now
Quite Active.
ACTUAL SALES ARE NOT NUMEROUS
Deals, However, That Mean Con-
siderable Improvements.
OTHER POINTS OF INTEREST

The offices of real estate men who rent
houses and apartments have been as busy
as beehives for the past few days with the
coming and going crowds of home-hunters.
There is always a rush of this sort at this
time of the year, because October is usu-
ally the month when people want to settle
down, resdentially, for the coming winter.
The present period, however, appears to be
more notable in this particular than any
preceding one of recent years, and for al
most every eligible house there seems to
be a score of persons anxious to secure the
keys and a chance to survey the premises.
The next three or four weeks Will be about
as lively in this respect
The search for houses or unimproved
realty by prospective purchasers is not by
any means active. Last spring there was
an undoubtedly large increase in buying,
especially for permanent investment, where
the consideration was cash. on the usual
terms in bona fide real estate transactions
of one third of the amount down and the
balance in one-year and two-year INSTALL
ments. The hot weather put end to this
legitimate dealing, however, but there is
no doubt the winter and spring will see a
renewal, and healthy one, of this sub
Stantial business.
There have been made, and are now in
progress Of completion, several large deals,
whereby unfmproved property in various
sections, but particularly the northwest, is
to be improved by the erection of houses
These deals, however do not bring about
any exchange of cash, although they are
ultimately apt to prove beneficial to both
parties. The system followed in such un-
dertakngs may be readily explained.
The owner or agent of. say, substantial
tract of well-stuated real estate is ap-
preached by the representative OF an indi-
vidual or company having a substantial
sum of money, or credit based ,on good Sc
curities. The latter representative offers
to erect upon the property number of
houses When completed. the owner OF
the ground takes few of the houses out
right at a certain price each, which is usu-
ally considerably above tha actual worth
of the structures; takes first trusts on two
or three of the others and second trusts on
the rest. 1t will be seen no actual money
changes hands, and 1T depends upon the re-
suit of the building investment largely
whether the builders ever get returns for
their money.
Such deals add to the development Of file
city and, almost as important, put money
into circulation among the trades and work.
ing classes, and consequently they are adj
vantageous even If the original parties are
required to wait for profits.
There has been also during, the recent
months considerable activity In another sort
Of trades. These consist in the transfer Of
houses, lots and suburban tracts, which
are recorded as sales, but where seldom
more than 500 cash changes hands, and
where other similar property Is taken in
exchange for the balances :.
Always Dull Campaign Years.
The foregoing remarks must not be taken
to convey the idea that no sales of real
estate, improved or unimproved, have been
made are being negotiated, as such is not
the purpose. General activity in such deals
is simply not evident, and If there were no
other reason for this dullness the fact that
a national political campaign Is in progress
would be all sufficient, such lethargy in
investment not only in realty, but in every
kind Of property which affords permanent
means of securing profits, invariably marks
such a period.
There win be certainly a very busy build
ing season next spring and summer. Archi-
tects report large number of requests to
draw plans and speclficatio for contem-
plated structures both within the city and
in the suburbs and nearby Maryland and
Virginia
That there will be also much dealing in
the electric lines is no less sure. There is
tendency on the part of many owners Of
this character of property to hold prices
too high, but such is usually the case when
hitherto inaccessible outside realty is
brought within metropolitan reach. After
a while prices are brought down to fair
level and then purchasers are readily forth
coming.