Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-10-03
REAL ESTATE GOSSIP
Property Values West Of
Rock Greek.
THEDEMAND FOR HOMES
GROWING INTEREST IN REALTY
AS AN INVESTMENT.
Land Available for Business Purposes
Which Can Be Had at Low
Prices.

| hands, and 1t is thought that the purchase
| has been made in the interests Of the rail-.
| road company. The price paid was Sto, 900
| and as the cost to the Sanitary Improve.
! ment Company, owning the property, is
| said to have been $4,000 the sale was a
| profitable one. This leads to the conclu-
| sion that the further extension to the north
| OF the new freight yards is contemplated
! or that perhaps it is the intention to close
up I'd street as far north as r street, as
all the property fronting on that street
between Quincy street and r street belongs
to the company. In the event the former
conjecture proves to be true the freight
yard will extend north to r street instead
Of stopping at Quincy street
The clearing away of the ground where
the freight station is to be erected is go ng
ahead and that scene of activity together
with the carts taking away the earth from
the steam ShoVelS at work where n street
and K street are being lowered gives the
locality an appearance of hustle which is Il
forerunner of the condition when the OPP
eratiOnS connected with the new terminal
plan are in full swing.
For Business Purposes.
Attention has been called recently to the
purchase of large plot of ground for bust
ness purposes at the unusually moderat e
price of forty cents per square foot 1t,
Of course. goes without saying that the To-
cation of the ground in question is not on
one of the principal business thoroughfares
or the city. Almost as remarka BILE is the
1act. however, that it is within an easy dis
lance of what is regarded as the urban
center. In a general way, the location is
west of the Presidents house. and south of
pennsylvania avenue. in section of the
city that has been neglected for some years
and Is now being revived
The reason for the inattention to this To-
cality is stated to be that it had fallen
ment of the city. In this respect it did not
stand alone. for when the city began to
take Its start in the progress which has
marked the recent years the bulk of the i'm
provements were confined to rather linn
tied areas. Now that the full tide of growth
of modern municipality has been rea ched
the course has broadened out and includes
great deal of territory that was left out
In the earlier years.
Low-Priced Land.
In such portions which are just
row catching up, as it were, with
the rest of the city the prices
of property reveal this condition. Within
a square of the Capitol building low prices
for land prevail. and so it is in other sec
tons that might be mentioned. The adj
vantages of such situation are realized by
men VINO come here from other places with
the view of establishing business concerns.
They perceive the difference in values In
property which seems to be advanta geously
located, and they are surprised at the Of
versity. They take the cheaper ground. as it
will serve their purpose quite as well. In this
way, as well as through the enterprise of
our own citizens, all parts of the city are
now being improved. so that greater uni
formity is secured than ever before. At the
same time the movement Of the resident and
business interests outward. from TIE old
center still goes on and the progress made
is a sufficient indication of the growth of
the city If there were no other evidence
available.
For Investment Purposes.
The investment class of real estate buy
ers, which is always one of Importance in
the local market, is always in evidence
Sometimes the influence of such buyers is
more positive than at others. At the pres
ent time there is almost an entire absence
of what might be termed speculative buy
ing. and the market is very closely scanned
for opportunities for placing money to ad-
vantage. In addition to the investment mo-
tive, and closely connected with tin fact
in manv instances inseparably-is the de-
sire, which is general. to become a home
owner. Comfort for the present is sought
for when a man buys n home and then
there is a chance that in the future. if the
occasion should arise to sell the property.
there will be an opportunity of securing n
profit.
Whatever the motive may be. there is no
question that the home buyer has always
been and is now an important factor in the
market. The chances offered to people of
this class unusually attra ctive. and It
may be said that at no period in the his
tory of the city has it been possible to OBJ
tain much in the way of house for
moderate sum of money as at the present
time.
Home Buyers Increasing.
No doubt this consideration has served to
increase the number of home buyers and
the prediction is that this class will be add
ed to in the future, owing largely to the re-
action which always.sets in against invest
ments in the stock market after an expert
ence similar to the one of the past few
months. The increase in the population of
the city has also been accompanied by an
increase in the number Of homo buyers and
this fact is one Of the reasons why the mar
ket he's continued to be as strong as has
been the case for some time past
Bought by the Government.
The report of the appraisers appointed to
ascertain the value of square 600, which
is to be acquired by the United States as
the site of an office building for the House
of Representatives. was read with good
deal of attention by those Interested in
Der of square feet in the square is con-
cerned this block of land is the largest
that has been bought by the government
within the city in recent years. Counting
the lots which front alleys in the in
terror of the square, the number of square |
feet exclusive of the alleys is 177.f4S The |
total award of the appraisers, of which |
Mr.. Robert I. Fleming was chairman |
amounted to S741.9s2. which is at the rate |
of a little more than 81 per square foot
The last piece of property purchased by |
the government was the old power house
ground square on Pennsylvania avenue be- |
tween 1872 and 18th streets. which is to |
be used the site of the proposed munich
pal building. This square contained ~ 80 |
square feet. and the price paid was $3.50 600
which is at the rate of about SO per foot
Some ten years ago the square where the
general post Office building is now located
was acquired by condemnation, and for
the 81 .436 square feet the sum of $3.50 1c2 |
was paid by the government. The rate per |
square foot was $1,000.
AS will be seen. the square on New Jer-
sey avenue southeast has nearly three |
times the area of the post office square, and
nearly four times the area of the power
house square.
Homes and Investments.
Mr.. VIM A. Hill of the Moore & Hill
Company. speaking of the condition of tbs, |
real estate market, said: 1.-THE fall season |
has started with an unusually active de- |