The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1904-02-28

Although the prospect Tor DullulnS Is
not especially brilliant II the leading
builders themselves are TO be believed,
there is every reason for anticipating
a lively business in the real estate field.
Brokers generally are quite sanguine in
this regard They seem 70 feel sure
that great deal of property will change
hands. and that. TOO, at increased
values.
"The vast amount of money which has
recently been invested in real estate
and its Improvement, not alone. by any
means. I'm Washington city proper. but
beyond the old city limits. places the
District OF Columbia before local as well
as outside capitalists and demands their
attention" said Louis p. Shoemaker. TO
a Times reporter yesterday.
II cannot now name all who have
made large investments, nor is il neces-
sary to do more than remind those
advised as 10 local conditions of the
great increase in the selling price OF
land along Connecticut Avenue. between
Rock Creek and Chevy Chase; Column
bia Heights. Washington Heights,
Mount Pleasant and the Brightwood
section, as compared with prices which
prevailed ten or twelve years ago, when
the boom. so to speak. was on, and So
many of our people thought that prices
would deteriorate rather than advance.
There is no boom on now. nor has there
been one since 1890. yet prices have
steadily advanced over the entire Dis
trict and in some sections real estate
is worth many times more than it was
when speculation was at its height
Increase of Values.
1--WE realize at a glance that F Street,
G Street. Fourteenth Street and New
York Avenue property in the old city, is
now double the speculative values Of the
boom times of ten or twelve years ago.
while in Mount Pleasant Brightwood,
Takoma. Washington II .ghts. and Co
lumbia Heights. and Connecticut Ave
nue. toward Chevy Chase. it viii sell for
several times more than could possibly
have been obtained for it in 1890. Tie
actual improvements Of these properties
by the investment of millions in build
ings, will not only sustain present val
ues. but cause them to increase great
ly in the near future
sour people are now tired Of reckless
speculation. and thousands regret then
unfortunate experience in stocks mines
and uncertain ventures. which induced
them TO invest their money without re
turn and from which great losses have
been sustained. Their attention has
been. and is now, directed to real es,
tate
Renewed activity will surely come
with the spring season and the mil
lions of idle capital now seeking judi
cious and safe investment will continue
70 lou Frga 81
cause of its stability. but because Of its
certain advancement In value
Changes of a Decade.
Ten or twelve years ago the United
States Government was not paying IS. CO..
per acre for land along Connecticut
Avenue, and constructing thereon mag
niheent buildings for the Bureau Of
Standards at a cost OF perhaps a mil
lion. Ten or twelve years ago the Sis
ters Of the Holy Cross on Massachu-
sets Avenue, were not purchasing land
OF the line OF Connecticut Avenue for
S2.5eo per acre and making arrange
ments TO improve the same at a cost of
several hundred thousand dollars. ThcI
private individuals were purchasing
property in that vicinity at less than
SlG00 per acre, and this action on their
part was considered by many even in
the boom times OF 1880 as being wild
speculation Ten or twelve years ago
Cur people were not dreaming OF the
Bond Building. the Colorado Building,
Inc New willard. OF the many large and
costly apartment houses now to be
found all over Washington. and also be-
yOnd the old city limits. in which hum
dre6s Of thousands have been invested
''The District Of Columbia now offers
advantages never before enjoyed with
its increased population, increased
wealth, and the evident confidence that
men OF national reputafions ana vast
fortunes are bestowing upon IL by max
ing large investments in real estate and
its Improvement here rather than else
where. Every city IN the country is
open 20 them. but Washington is being
selected I'm preference. Thus its national!
aspect IS fast becoming a national pride
Il have not the time TO enumerate the
many changes which have occurred in
the last few years or to give further rea-
sons for my expectation OF Increased de-
mand and increased value OF real estate
during the coming season. This state
ment Of facts however. ought TO remind
those familiar with real estate and con-
vince those who are not, Of the prospect
for which l contend, imminent upon US
with the appearance OF the blue birds
Of spring"