Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-10-17
REAL ESTATE. GOSSIP
Interest in Property on Part
Of Investors.
GOOD BUYINGIMARKET
SOME LAND VALDEZ ACCORDING
TO RECENT SALES.
TIE Demand for Houses and the Prob
able Effect on Future Build
ing Operations.

The long and painful process that has
been going on in the stock market, and is
still in progress, that of getting rid of those
who ventured to buy speculative stocks on
borrowed money, is only a repetition of an
old experience. The same process will be
repeated in the course of few years in
spite of the warning of the disasters which
have come to SO many men and to SO many
homes. 1t is not easy to resist the allure
ments of large dividends and big advances
in prices. especially when it is compared
with the slower method of making invest
ments that pay less rate and hold out no
specially f1attering prospect of profit.
The reaction that sets in after what is
called financial setback generally results
in a renewed interest in real estate. Ac-
cording to the experience of brokers, this
is exactly what is taking place at this time.
People are more and more turning their at
tention to the opportunities offered by real
ty, and the market shows this in the de-
mand that has sprung up for houses. 1t is
probable that at this time there are more
people buying homes than has been the
case In many months.
No Speculative Buying.
There is almost an entire absence of spec
ulative buying; that is, in the sense of ac-
curing unimproved property and holding it
for an advance. The demand for land
comes mainly from those who want it for
the purpose of building houses.
In spite of the discouragements which
at other time would have practically
put an end to building of this Sort it has
gone on during the past year in volume
that has been surprising to those familiar
with the conditions. 1t is not questioned
that the market could have absorbed more
houses if thew had jlah I,,t
1T is the visible supply has been either
rented or purchased to an extent that is
still source of wonder to even those well
acquainted with the market
Better Market Locked For.
1t is recognized that the only reason why
the market thus at hand is not better sup
piled is because of the uncertainty of the
material and labor market not to speak
of the money market With a change in
these particulars. and there seems to be
reason for believing that it cannot be de-
ferred longer. the opportunities for invest
ment as well for speculation are likely to be
extremely good.
People who have money to loan as well
as those who want to make their own in
Eestments Will perceive the chances which
develop out of the existing conditions
and will not be slow to take advantage of
them. The first effort. of course, is to sup
ply the demand for houses. whether in the
III III VI IIiufFluudl CUMMINGS apartments
and there will be those who look ahead and
Will try to buy property along the lines of
the evident growth of the city a. -
Influence of improvements.
Reference was made recently in thiscolumn
to the PROBABLE effect on the property I'm the
vicinity of the spreading out through the
Eck1ngton iregion,.tof the new railroad
freight terminal. and 1t was, pointed, ont
that in all probability a demand would
spring up for land which had apparently
peen or little USE, On the same principle is
the expected growth of Takori1a Park based
40 the northeast of that town, but within
the municipal limits, the Seventh Day Ad-
Ventists have recently acquired large hold
ing OF land. There will BET the headuuar-
tiers of the denomination when; the required
bu ldings are erected and the removal eff
fccted from Battle Creek, Mich. A sanato-
rum, as well as school and a printing
house, is under their management and nat
urally the location Will beathe center of
quite a.large community of people CON
nected in one way or another with the yarf
Gus enterprises that will be ed on there
1t Is estimated that at least 100 houses
Will be needed to provide homes for the new
residents. and it is the expectation that
there will be large addition to the number
of houses in Takoma Park. The population
or the C ty is moving in other directions and
where is now vacant ground are soon des-
tined to be rows of houses.
SaleS at AucClon.
The disposition of realty at auction Is a
feature of the market that is attracting a
good deal of attention at this time. Auc-
tioneers report that the announcement of
sales generally results in bringing out good
audiences. The crowd that collects at the
sound of the auctioneer's bell it is stated
Is composed not merely of those who are
attracted to the spot by motives of
curiosity. When the auctioneer gets I'D to
bid off the property he faces a group of
people who are there because thew have
some idea of buying. The consequence ia
tnat satisfactory sales are reported
1t is evident from this Statement that in
vestors are in the market. and that fact is
encouraging evidence of the prosperous
condition OF real estate interests
Leased to Senators.
Three senatorial homes have recently heen
located through the Office of Mr.. E. c.
Baumgras real estate broker He has
leased to Senator German the large resi-
dence at the southeast corner of 18th and
streets for term of years. This house
was occupied by Senator German during his
former term in the Senate
Mr.. Baumgras has also leased to Senator
Alger the house at the northeast corner of
10th and o streets, which will be the home
of the Ayers for the next six years.
He has also released to Senator Fairbanks
the residence at the southwest corner of
-',i'oicHt3cttS avenue ana 18th street,
which has been the home of the Fairbanks
family for several years past.
View Of the Market
Conditions in real estate in Washing
ton, already very good, have received an
added impetus through dhe slump in
stocks said n member eof the firm of
Moore & Hill. Months ago it was predict
ed that there would be IN turn toward real
estate investments as against stocks, the
former Offering safer and4surer returns
while at the same time being not without
the speculative feature At no time in
years has there been more interest dis
played in Washington realty upon the part
of investors than at the present time
Not only is this shown among those of
larger means, but among those whose re-
Sources are limited. Rents were ne .ar hot