Evening star. [volume] (Washington, D.C.) 1854-1972, 1904-12-03
REAL ESTATE GOSSIP
Brokers Look for Little Ac-
tivity in the Near Future.
TRADES FAR BETWEEN
LOCAL DEALERS FEEL APPROACH
OF CHRISTMAS HOLIDAYS.
What is Called Usual Winter Slump
Now Prevails-Some Struc-
tural Benefits.
TRADES FAR BETWEEN

| Christmas is near at hand. This in few
words is the explanation of the local brok
ers for the continued inactivity in the
| realty market
| with the coming of the Christmas holt
| days it cannot be expected that there will
| be any demand for property on the part of
| would-be purchasers, said a local real es-
| tate man to a Star reporter today.
! This remark doubtless explains the local
| situation. Brokers say that the dizziness of
the market, which has been apparent for
the past several weeks, continues to pre-
vail, and they are simply resting on their
| oars and living in hope of better things to
| come in the near future.
| No trades of any moment have been re-
I corded, and, so far as can be learned by
those sin the know" none are on tap at
| the present time.
| apparent dulness in the local realty field
| was not confined to this section of the coun-
| try, but that in all the large cities Of the
| United States realty was quiet and very
| dull. He was told at the same time that in
| Chicago not a single large cash realty trade
| had been made in the past six months, and
| that both in Boston and New York transac-
| tons in real estate had been far below the
| normal.
| While local real estate brokers in large
| part explain the present inactivity by call
ing attention to the near approach of
| Christmas. many of them charge the sl1mp
! in realty to the great activity in the local
stock market
! For the past several weeks local stocks
| all the way through the list have been on
the boom. Many of the local securities have
! taken sky rocket turns above the prices at
| which they could have been bought a
month ago. In consequence, it is pointed
| out, holders of equities in realty have with
| drawn their money and wou1d-be purchas-
| ers have turned their funds from the realty
| field, and have, through the bankers and
| brokers, taken a flyer in stocks, having an
| idea that they could make quicker profit
| than by placing their money on cold earth
| or ground equities. 1t appears to be ques-
| ton in the minds of local real estate agents
| whether or not this boom will continue or
| whether or not those who have gone into
| the local stock market will be satisfied with
| the profit obtained and will make an in
| vestment in realty.
Many Building Operations.
While the actual trailing in realty has
been quiet, there have been many building
operations in Washington and in the vi
entity that must of necessity add to the
values of real estate within a few years.
| Principal among these is the great work
on the new terminal facilities for the va
rious railroads entering the Capital City.
Although the terminal work is now appar-
emily in its infancy, and the benefits cannot
be seen by the citizens, when it is completed
it will be of such great use that it will be
| hard to realize how 1t could have been done
without In addition to the time saved in
the moving of both freight and passenger
trains to and from all sections of the coun-
try, it will of necessity enhance the value of
property in the immediate vicinity of the
station.
Just at this time, when the streets are
torn UP and travel is the hardest, many
| citizens of the northeast section feel that
they are suffering great hardship, and
| doubtless they are. But 1t must be under
! stood by them that the hardships through
which they now have to undergo will be
more than paid for when they have with
them railroad station that cannot be bet
tered by any in the country and surround
ings that cannot be improved upon.
Then again, the improvements going on
south of the city are sure to react upon
local realty values The new railroad bridge
| across the Potomac has been the means OF
reducing the time between Washington and
!: | the contiguous territory by many minutes
: and the highway bridge, which is progress
ing toward completion, will open up terri
| tory for both foot and wagon passengers
| all of whom will of necessity become buyers
| in the local market.
New Territory Opened UP.
The completion of an electric line to Fair
: fax Court House, which was consummatet
a few days ago, means the opening up of ar
: | entirely new territory to the Washington
merchants for while up to the time of open
| ing the line residents of that section Of thu
country could only reach Washington by
one train daily, now, by the electric line
they can come and go as they please. Thi:
means, of course, that more people vii
come from that section of the country, ant
probably more people. will come to Wash
: ington for their daily occupation, 1nasmucl
: as they can go back and forth between thei
: | work and their homes with little or NJ
: trouble.
Z With the opening of the electric line tt
|; Fairfax comes an Increased interest in tn,
= ssrync for a
: route will have to pass through Georgetown
) For some little time there have been notice
! able increases in Georgetown realty, ant
several of the old properties which have
: been practically family heirlooms hav
changed hands.
| The Miller Shoemaker Company, through
: which great deal of Georgetown propert!
| is handled, report trades and other dealers
Z | report demands for figures. The citizens
: association at various meetings during thu
| past several months has called attention t.
| needed improvements they claim would ado
I ! much to the value of property IN that sec
], | ton.
J. Cardinal Gibbons while in Washington
: | during the past week said it was not the in
I tenton of the Roman Catholic Church t.
: | improve immedia tely the property on Bal
! timore street between Columbia road ant
10th street recently acquired by MIN as thu
) | future residence of the papal legatlon.
| is the intention of the church, however, u
s erect sometime in the near future on THU
3 property a home to take the place OF tina
& | HOW oCCuplcu Ny Inc leSdSioh VI oh &C
E near 1st street northwest. 1t is also the in
Z tention of the church to make this building
( | one of the handSomest of Its kind In thu
: city, credit not alone to the Church O
5 Rome, but to the capital OF the nation
3 The New Aims House.
s Work on the foundations for the new
: aims house at Giesboro point is progressing
s satisfactorily to the, contractors who ar
& planning to erect the group of buildings TO
Z the District government.
$ While this work has been spoken of sine
\ the appropriation made by Congress TO
Z the purpose there has been great deal o
Z talk as to just what the place should b.
Z called officially
Z Although in the general use Of the term
s is an 'alms house. a hQme for the IN
s posed people who have come in contact witt
: that class of the residents of Washington