Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-02-03
REAL ESTATE GOSSIP
Conditions Which Are Regarded as
Promising for the Future.
CITY AND SUBURBAN IMPROVEMENTS
Instances Of Appreciation in Values
in Various Sections.
A s A N I n V E S t Mt
CITY AND SUBURBAN IMPROVEMENTS
AS AN INV E S T M E N T

case that transactions in realty are not
numerous during the interval between the
fall and the spring months, and this year
has been no exception to the general rule
The conditions, however, upon which an
estimate of the prospects of the coming
season can be based are so much more
favorable than those of last year that the
outlook, as seen through the eyes of those
supposed to be competent to form a judg-
ment, appears to be bright and promising.
There is evident more readiness on the
part of investors to seek for opportunities
of placing their money. and while this
tendency is not marked as some Of those
interested in real estate would like to see,
for some time past. The interest shown
in property that yields an income is one
of the features, and owners of investments
of this kind do not lack in opportunities of
making sales.
Existence of a Market.
However, such owners do not seem to be
anxious to dispose of their holdings, and
the consequence is that very few transac-
lions take place in this class of property.
But the existence of market is a condi-
ton which is by no means a small factor
in the situation. 1t is believed the coming
season will witness number of additions
to the class of residences which are un-
usual because of their size. Already as
stated in The Star, sites have been D,lr-
chased and plans have been made for the
building of several houses Of this character
Such structures in comparison with the
total number of buildings erected in the
city are rather small in number but their
increase affords additional proof of the at
Effectiveness of this city as a place of resi-
dence, especially to those who can afford
to choose where they shall live.
1t is expected that additional accommo-
dations will be provided during the COM
ing season for that ever-increasing class of
the population of the District who require
homes of moderate size and especially at
moderate rentals. In the opinion of some
whose conservative judgment entities them
to a hearing there is no real demand for
any unusual activity in this direction
They hold that the normal increase in
buildings will be sufficient to meet the
needs.
Market for Houses.
However, those who have money to invest
seem largely to be of the opposite opinion.
and In confirmation they point to the ready
sale or rent of houses just erected. 1t is
claimed that while the new houses are oc-
cupied this is done at the expense of the
older houses, which are left empty. but at
the same time, it IS argued that this latter
assertion is not borne out by the present
situation, which does not show such large
increase in the number of vacant houses
would seem to be indicated.
The opinion is held by good many that
the coming season Is to witness a great
deal of building in what is known as the
suburbs of the city, stimulated to some
degree and made possible by the improve
way and their being made a part of a
comprehensive system of roads within the
city.
Rented Houses in the Country.
From this point of view 1t is believed the
building of houses for rent and for sale
will go on outside as well as inside the old
limits of the city. Heretofore what is
known as the suburban development in the
way of improvements has been largely due
to individual enterprise in providing homes
for their immediate families. But now 1t
is thought effort will be made to meet
what is regarded as general demand for
rentable houses in the country.
Advantages of Property Owners.
A committee of the Citizens Northwest
Suburban Association, composed of Charles
C. Lancaster, chairman; Geo. A. Hill, Rob
ert 1. Fleming, Louis P. Shoemaker and
Horace S. jones' made the following report
at a recent meeting of the association:
your committee appointed at the last
meeting under the following resolution:
Whereas the development and improve
ment of real estate is of vital Importance to
the taxpayers of the District Of Columbia;
and
Whereas every legitimate effort should
be made to disseminate the advantages of
safe investment to both local and foreign
capital: and
Believing that Washington real estate
possesses inducements not known to the
general public; be it
Resolved, That a committee Of five
members of this association be appointed
by the president to fully Investigate the
subject and to report at the next regular
meeting such recommendations as they
may deem wise and proper begs to SUBJ
NIT as a preliminary report that they have
had two meetings, where the matters COW
cred by said resolution were partially con-
sidered and are now being Investigated.
We have gone into the subject sufficiently
to state in this report that the District OF
Columbia, being the seat of the national
government, affords unusual advantages
for the investment of capital in real es-
tate. The city, under the protection Of the
government, is rapidly growing in wealth
and population. and is extending its devel-
opment into the beautiful suburbs.
Form of Government.
THE present management Of municipal
affairs while somewhat unique, is honestly
conducted, perhaps more SO than In many
other municipalities in the country. The
public spirit of its citizens and the liber-
atty of Congress give ample assurance that
the future of the District will grow In
proportion to the growth and expansion OF
the nation. Under the supervision of the
national government the city is absolutely
safe and secure from disorder and violent
outbreaks of irresponsible organizations
which have disturbed other municipalities
and retarded their development.
mo city in the Union offers a safer place
for the investment of capital or the resi-
dence Of citizens than the national capital
These inducements have been recognized In
the past, and not only local but foreign
capital has been largely invested in city
and suburban real estate. These advan-
tages have naturally resulted in remarkable
advances in the value of real estate in the
| last ten or fifteen years.
Advance in Values.
"In 1887 unimproved ground was trans.
| ferred by voluntary sale on street between
| 9th and 18th streets northwest at So pei
| square foot. Within the last five years the
same ground has sold for $40 per square
foot and upward. Supposing that an in.
vestment of $4,000 had been made in 1881
at 50 per foot and sold in 1897 for so pei
foot, the profit would be at the rate Of
| 666 % per cent.
Going 10 the section Of 18th street ex.
tended above Florida avenue, ground wa,