Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-04-28
REAL ESTATE GOSSIP
Active Demand for Houses a Feature
Of the Market.
PROMISING OUTLOOK FOR BUILDING
The Influence Of Street Railroads
in Developing Property.
7 r r
V A r 10 Us M A TT E r S

1t is the opinion Of a good many brokers
that the demand for houses to rent, which
still continues, is remarkable feature of
the spring season The renting time in
this city, as is well known. is the fall. 1t
has been somewhat the custom for people
to make their arrangements at that time
for the winter and to settle down, while on
the contrary the spring has seemed to be
the time for breaking up the home prepara-
tory in some cases to leaving the city for
the summer.
1t is not to be understood that even in the
past everybody as the saying is has been
in the habit of going away during the hot
season. In fact, the summer exodus has
always been confined to a comparatively
small percentage of the entire population.
1t seemed, however, that those who stayed
at home as well as those who went away,
selected the spring as the time for making
changes, and so this time of the year has
come to mean in real estate circles a period
when houses have been vacated rather than
filled.
Active Demand for Houses.
This year, according to the testimony of
dealers who are in a position TO form an
opinion, there has been decided change in
this respect, and instead of the number of
empty houses increasing and there being an
almost entire lack of a renting market,
there has not been a time for several years
past when the list of houses for rent was
so diminished as at present and moreover,
when the demand was apparent. This
is said to be especially the case for houses
renting for $40 and less per month. 1t is
impossible, 1t is stated. to find enough
houses of that class TO supply the demand.
This condition is also the more remark
able for the reason that during the past
few years large number of apartment
houses have been erected and filled with
tenants. The conclusion is reached that
the population of the city is increasing.
1t is believed the outcome of the present
situation will be more or less activity in
the erection of houses during the present
season. The tendency to push out from the
center of the city in search of homes stni
continues, and now that the outlying street
railroads have been modernized and either
give or will give a continuous service. build
ing sites along the various railroad lines
will be improved. 1t is thought that under
the changed conditions houses in suburban
localities will be built not only for sale,
but for rent. and that a residence in what
is known the suburbs will be looked upon
as a permanency for the entire year instead
of for the summer season.
Corporations in Real Estate.
The changing of real estate partnerships
into companies, which has been done re-
Gently in the case of several firms of real
estate brokers, is explained in some in
stances to be due to the fact that the
business represented had become valu
able that simple partnership was not
sufficient to protect the interests of the
individual members of the firm. For this
reason and also because of the convent
ence of corporate form compared
with that of copartnerShip the former
has been adopted.
This change Is accepted as another indi-
cation of the value of the real estate in
terests of the city. Although there are a
good many in the business. still the pa
tronage that comes to a firm represents
such a value in money that it Is found
necessary to give that value the tangible
form which is represented by shares of
stock. so that in the event Of the death
of a partner or a desired shifting of in
terests the transfer of individual rights
can be readily and equitably effected. In
other cities the real estate business Is car
ried on by means of companies and the
necessity that is beginning to be felt here
for business device of that sort shows
that the volume of the business Is large.
Developing the Suburbs.
The use of the lines of street railroads.
especially those sections extending far out
into the suburbs, for other purposes than
passenger traffic has not as yet been de-
veloped, except the Chevy Chase line of
the Capital Traction road. All the
suburban lines this side of the
Potomac have quite recently been rebuilt
by the Washington Traction and Electric
Company, and the progress Of bringing
them into a harmonious system is about
completed. With the exception of the lines
to Hyattsville and Anacostia, no suburban
cars are as yet run directly to the center
of the city. 1t Is the announced plan that
all the lines Of this system, which extend in
so many directions and at such long dis
tances through the suburbs Of the city,
are to give a continuous car service from
their extreme terminals to the heart OF the
city.
In some instances these lines pass through
sections which have never before had rail-
road facilities, and one of the interesting
phases Of the probable results following
the establishment Of this modern and COM
prehensive system of street railroads Is the
influence 1t will have upon the development
of the surrounding region. 1t is believed
by some that this rapid means Of communi-
cation will be made use Of to bring the
producers nearer to the markets of the
city. 1t is also thought that an express
business be established for the use Of
the people who live in the suburbs, yet
whose business and interests are in the
city.
The Freight Traffic.
For this and other reasons 1t Is believed
to be not improbable that freight cars also
will be run these roads While under
the law as it now exists, freight cars can
not be brought within the limits of the city
such limitation will not prevent the devel-
opment of the traffic, as the freight depots
of steam railroads are not always close by
the business centers of the city. 1t will,
therefore, be possible to have freight depots
established along the lines of various street
railways at Florida avenue and from these
points freight and packages can be dis
tributed.
1t is stated by the street railroad officials
that the subject has not been given any
earnest attention as yet. but it is believed
as population in the suburbs increases the
demand will make necessary the establish
ment of some system of freight transporta-
ton over street railroad lines.
Effect ON Property.
In this connection 1t is rather an interest
ing speculation as to what, If any, effect
such facilities of communication with a
! market such as exists in Washington would
| have on land from an agricultural stand
| point 1t is thought by some there would
be a tendency developed toward the pur-
chase of land for as market gardens
and it is believed good deal which is now
| only partially cultivated would be more
| Thoroughly worked be