Evening star., 1903-09-26
REAL ESTATE GOSSIP
Moving Houses From One
Site to Another.
BROKERS URG ANIZED
ACTIVE DEMAND GoR HOUSE AC-
COMMoDATIoNsA FEATURE.
Favorable Prospect of a Renewal of
Activity in Building in the
Near Future.
BROKERS ORGANIZED

Near Future
Some bargains were picked up by those
| who attended the sale Of houses occupying
the site of the proposed union depot. AS a
rule prices were fixed by the estimated
value of the building material, as under
the conditions of the sale the buildings
were to be removed at once. Such valua-
ton excludes, of course. the cost of the
labor which goes into u building and which
is thought to represent at least 30 per cent
of the total cost The result was that the
range Of prices for the buildings was not
6 high one
Most of the purchasers were in search of
n:3 3terial to be used in the construction of
other buildings insAvarious parts of the
city, and in some instances the entire build
Ing was removed bodily and conveyed to a
new site. A frame house of rather sub
stantial character was thus trundled off to
a lot in the northeast section of the city,
and it has been fitted up to be used as the
home OF the purchaser. In the majority OF
cases, however, the dwellings, numbering
some four hundred. in the new depot local
ity. We're taken down and the material in
them used elsewhere.
Among the Brokers.
Additional office room is the object of
the rather extensive alterations which
Messrs. Wescott & Story are making in
their office, SIG 18th street. An extension
is being made in the rear. where the prf-
vate rooms of the members of the firm will
be located. The public office room will be
enlarged and the facilities of the place will
be increased by the additions Which are
now being made.
\ partnership has been formed by VIM.
NJ Terrell and Norton M Little for the
purpose of engaging in the real estate and
insurance business. The offices of the new
firm will be in the Colorado, the office
building al the corner of 14th and G streets.
which is now nearly ready for occupancy.
Mr., Terrell has been for some years inter-
ested in the development of kensington,
Mo, and has also been engaged in the real
estate business in the city through the B.
H. Warner Company. Mr.. Little is
member of a well-known firm of grocers,
and is familiar with interests here.
Real Estate Exchange.
The real estate exchange has modified its
form and the scope of it's activity to the
limits which experience has demonstrated
will be of the greatest benefit to its men,
bers. 1t was found that the system of hay
ing central place, where a good deal Of
the business might be centered, was not
practical. and neither was the plan of hav-
Ing auction sales of property within the eX-
change. AS there seemed to be no need of
office the rooms We're given up at the
close of the fiscal year, and now the
ganization is, like many others, meeting
only when call is issued.
1t is found that useful work can be done
in representing the interests of real estate
men before Congress when legislation af-
fecting them is proposed. Within these
lines 1t Is believed the exchange has a mis-
sion to perform. and as long as such an or
ganization proves useful it is thought wise
to maintain it.
City Not Overbuilt.
Based on the experience of the present
renting season, which is now drawing to a
close. at least as far as unfurnished houses
are concerned, it is evident to all who keep
a close watch of the real estate market,
that this city is not overbuilt. 1t Is the ex-
perience of all, whether they are interested
in houses or in flats, that the demand this
season for living accommodations is q large
one, and that the principal difficulty in sat
fSfying 1t Is to secure the houses. 1t is true
that some large apartment. houses are still
incomplete, and so the effect of adding the
rooms which they will contain to the pres
ent facilities cannot be known positively at
this time.
From what is known however of the
present condition of the market in respect
to It's facnitles for supplying the demand
for house room it is the opinion that the
supply is not equal to the demand, and
lIdl lDc Clly mas not Deen OEefDu1lt,
feared was the case some time ago
During the past few months, when the
activity in building, especially in apartment
houses, attracted attention by its volume
a warning voice was raised as to the danger
of OVERRIDING it.
Result Of Rental Season.
Last fall it was anticipated that the end
of the renting season would reveal a con-
dition which would injure the prospects. of
residence property as an investment. In
stead of that the demand for houses in spite
of the coal famine began early and con-
tinued with such volume that the lists were
practically exhausted.
A somewhat similar experience has been
repeated during the present season, and
while the effect of throwing upon the market
the accommodations provided in the apart
ment houses that are still unfinished cannot
be determined at this time, it is the opinion
of well-informed men that the market will
absorb them. 1t is likely, other things
being equal that during this fall and
the coming spring there will be great deal
of building, but owing to the high price of
material and the labor difficulties men who
would ordinarily invest their money in this
direction are inclined to move somewhat
slowly.
Many Sales in Georgetown.
Real estate men in Georgetown are high
ly gratified at the purchases being made in
the west enU by washington mOneyeQ peO-
pie. who have heretofore ignored the west
end when seeking investment. To the de-
velopments and profits of local men the
past year may be traced this present de-
sire to get hold of everything in the realty
line in Georgetown that promises a return
on the investment.
Clarence F. Norment. it is stated, has Just
made a clear $4,000 profit through the pur-
chase and resale in parcels of the Boggs
tract, fronting both Dumbarton ave
nue. and o street. On the 0 street front
Harry Wardman. the purchaser, has al
ready begun the construction of thirteen
dwellings. which later will represent with
the ground when completed, an investment
of over 100000 The purchaser of the eleven
lots on Dumbarton avenue was Edgar Ken
nedy
Charles Birch ct al. trustees have sold
during the past week the Birch property at
the northeast corner of 29th and p streets
improved by large substantial dwelling
formerly occupied residence by Gem
eral Sawtelle. and later used by the Dis
trict for dblic school purposes. The pur-
chaser Nanta Wagar, is from Alabama
The house will be remodeled and used as a
residence The pripe oIlt ipad u,ac 5o0