Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-07-25
REAL ESTATE GOSSIP
Improvements Of Various
Kinds in Progress.
F STREET PROPERTIES
INDICATIONS OF AN EARLY
RENTING SEASON.
Some Conditions Which Influence the
Realty Market-Supply and
Demand of Homes.

Demand of Homes.
Owing to the growing consequence or
street as business thoroughfare there is
naturally much attention paid to transac-
tons in property there. The sale of l2l4 f
street reported during the week. and 1t
is stated to be the purpose of the new
owner to hold the property for investment
purposes. Like all the lots on the south
side of the street in that square, the depth
is rather unusual as it extends back 159
feet to a 3O-foot alley. The price paid for
the 40 square feet was S:,2.loo nearly
$12 per square foot. As showing the
changes in the values of property. the add
| joining piece on the west. ZIG + street,
some four years ago was bought by the same
person who bought 12l4 f street and the
| price paid $40 per square foot. The
latter lot, however. contains Go46 square
feet
| Two years ago there paid for 1912
+ street. which has an area of 21iI square
feet. the sum of $i.i.,kD. which is at the
rate of nearly SIS per square foot The
most recent sale Of property on this square
prior to the one OF the past week was the
southeast corner of 18th and r streets. The
lot is ~ feet by 80 feet. and the price paid
was $4,000, which is at the rate of about
%'' per square foot. Some of the transac-
| IONS III property curing the past Two or
| three years demonstrate the estimation in
which + street properties held by in
| VcStOrs.
During the summer of 1909 the property
| 1919 + street was sold and the price paid
was $II."n. AS the ground had dimen-
sions of - by 100 feet the per foot price
| WIS $50
Values OF Property.
In the spring of 1901 the property 1909 F.
street was sold at public auction and the
| ,,ria oh.
| the rate of SIS per square foot. few
| months later $40 F. street was bought and
| for the ,22l square feet which 1t contained
! the sum of SAL 60 per square foot was paid
! During the same season of 1901 No. 1919
| changed hands, the new owner paving for
| the property the of $4,000 and as the
lot. with its frontage of over "a feet con-
| tanned 2642 square feet. the per foot price
| was 500 50 Farther east on the same
| block few weeks later No 1909 was sold
| for S6254O For this property which has
a frontage of over "a feet and a total area
OF ",l27 square feet, the cost reached $50
per square foot.
In the fan of 1901 the southeast corner
of 10th and + streets changed owners and
the price paid was sGo,Opo AS the lot has
a frontage of twenty feet and depth of
action was 80. The building also entered
as a factor in the estimate Of value
Area of Lots.
| The variation in the size of lots makes
the square foot valuation, which it Is the
custom here to quote somewhat uncertain
IT not misleading. 1t Is not enough to know
what was paid per square foot for any
| piece OF property in order to Judge of the
condition of the market, but 1t is also es-
sential that at least the area of the ground
should be known, and its exact dimensions
are not unworthy of being noted AS the
per square foot price Varies with the area
of the lot it is considered that a more uni
form method is on the basis of the front
| foot.
In that case 1t is not necessary to know
the quantity of back ground which is in
VOWED IN order to understand the price
as is the case with the square foot method
| However. the latter has always prevailed
here and probably had its origin in the
fact that the sales of city lots began before
| the actual surveys of the ground were
made. 1t decided that as far as possI-
BILE, each lot should contain a certain num-
Der OF square feet a lot was supposed to
contain about 5000 square feet, and from
the very beginning values We're quoted on a
square foot standard. and not on the front
foot, as prevails so generally elsewhere
Demand for Houses.
1t may be regarded as somewhat absurd
before the close of the month of July to
begin to talk about the renting season.
which usually does not open before the LIST
of September. However, In this city of
changes, and also of progress there is no
! valid reason why the period of the renting
season should not vary as well as other
| things This has happened here as was
demonstrated last summer when a demand
sprang up in August for houses from those
who wanted to rent, and as well for apart
| mentS. and a good deal of bus ness was
done 1t seems likely this experience is to
he repeated again this year, the indica-
tons point that way.
| In fact, brokers find a considerable in
quiry at this time for houses, and some
renting IS going on
There are conditions this year which in
fluence the situation and a prominent one
is, of course, the necessity of finding other
quarters on the part of those who have
been living in the three four hundred
houses that are to be removed on account
| OF the demand for Il site for the propOsed
un on depot and the new railroad terminal
| Then, again. there are perhaps some sew
I enty families who are seeking new homes
| because their houses are to be taken for
the use of the government in the erection
of the office building for the House of Rep
! reSentatiVeS.
A Good Market Expected.
When this demand for homes is taken
into account and also that growing out of
the yearly increase in the city population
1t will lie recognized there is a legitimate
reason for the current inquiry for houses.
1t is believed the market Is going to be a
good for houses, well as for flats
The rapid increase of apartment house
buildings. together with the increase in the
number of houses in all sections of the
District. has led some to anticipate that
possibly the provisions for homes was get
ting to be in excess of the demand.
| Whether not this is the case a present
| is largely matter of opin on, there has
! been actual test. The market in this
particular was certainly not overdone last
season. and the question that is to be
| solved the result of this years renting is
whether the supply of houses and apart
ments is sufficient to meet the existing
needs.
Waugh M. E. Parsonage.
| The new parsonage of the Waugh NJ E
| Church is to be attractive structure 1t
| DESIGNED by L Stanley SirnmnnS