Evening star. [volume] (Washington, D.C.) 1854-1972, 1904-01-16
REAL ESTATE GOSSIP
Optimistic View of the Local
Conditions.
THE SPRING OUTLOOK
WEATHER HAD DEPRESSING Eff
Feet AFTER THE HOLIDAYS.
Prospect Good, However, for Greater
Activity in Near Future-Wash-
ington as Residence City.

| While it is true that the volume of bust
ness in real estate has not been SO great
| since January as it was during the month
of November and the early part of Decem-
! ber, 1t is nevertheless believed by those
| best Informed in the matter that the mar
het has lost none of it's strength, but,
| the other hand. shows signs of great activ
| ity to come as the winter advances and
spring draws near
| The weather has doubtless been greatly
| to blame for most of the falling off in real
estate transfers during the last few weeks.
The cold and dampness. not to mention the
slippery condition of the pavements, fol-
| lowing closely upon the festivities of the
| Christmas holidays, have kept many per-
sons at home who might. under more IA
vorable conditions have visited sites with
| a view to purchasing and concentrating
deals. AS one dealer said recently:
THE ladies have much to do with pur-
chasing realty, and lately they have pre-
ferred to remain in their comfortable
homes going out only for the necessities of
| life or pleasure. 1t takes a fine day to get
| mans wife to go and look over piece of
| property he is thinking of buying, and
! the worst of it is he doesn't dare to buy
| it without she does look at it,
This is one way of looking at the matter,
and is certainly correct in a measure AL
though the number of sales concluded has
| been comparatively small, those In progress
are numerous as ever, according to ad-
vices from many agents.
Reasons for Bright Prospects.
One reason the prospect for the spring
| market looks bright is that liberal dividends
are being paid this month by number of
the local corporations, in consequence of
which there will, it is thought be a surplus
of money for investment The value Of
Nv in Wa IN ha in
weston is increasing continually. as has
been pointed out in The Star from time to
time. This fact is made especially noticea-
| BILE by the recent tendency or outside capital
to enter here. More than one man and
company have placed large sums of money
in houses and lots in this city, with the hope
of realizing handsomely on them some day
| when the ever-growing popularity of Wash
ington residence city shall have en-
HANGED their worth.
Among the investors recently here was
Mr.. r. A. Davis of Philadelphia, who last
month inspected 100000 feet of ground on
Pennsylvania avenuesSin his own interest
and that of other Quaker city investors. 1t
is the intention, Mr.. Davis said, to build
houses for rent and for SALE He said Phla-
delphia trust companies and building asso-
Citations have been for some time investing
money. in Washington.
Another striking indication of this general
condition of affairs is the moving of many
old residents from homes in which they
have lived for years, in order that they
most fabulous sums have been received in
some instances for residences in the north
western section of the city from wealthy
persons who have not desired to build and
were very anxious to procure good homes In
Washington at any price. Besides the sales
of this kind there have been many houses
rented under similar circumstances, fami-
ly being willing to give up home for the
winter for handsome sum. All this pre-
sages the coming Importance of the capital
city as good real estate market.
The effect of condemning SO many resi-
dences on the sites of the new union station
and the office building for the United
States representatives south of the Capitol
| is still felt. A large number of those who
were turned out of their homes have al
ready purchased and settled down In others
| in the same general localities. but this is by
no means true of the majority, no inconsid-
cradle number of whom are willing to
await an opportunity for better invest
ment. It is worthy of note that many Of
these families have preferred to move into
| the northwest instead of remaining i'll their
native section. 1t is said the younger ele-
| ment is the influential one in bringing about
such decisions.
Effect of Railway Rumor.
The proposed new cross-town railway will
! doubtless have effect on the price of real
estate along it's route. AS it will run
| through sections where prices are not now
the highest and provide connections with
have a tendency to even prices somewhat
| in the various sections. This will not how
ever, be by materially decreasing present
prices, but by bringing up the prices or lots
thus in part benefited.
This result of the building of the new ROAD
| will in all probability be most noticeapie
! In East Washington, where at present there
| is no car line running north ana SOUTH
With an adequate service between Penn
sylvania avenue southeast and II street
northeast the desira blity Of living or con-
Quoting a business enterprise in these and
| intermediate localities should be greatly in
creased.
There is bill before Congress, lately IN
| troduced in the Senate by Mr.. Gallinger, at
| the request of certain citizens. to make the
Torrens law, one similar to 1t, oper-
alive in the District of Columbia. This
would provide for the giving of a certificate
| of ownership to piece of property by the
register of deeds, and abolish in large
measure the routine methods of perfecting
| titles of real estate 1t is generally thought
| in more favorable light before the pub
| lie, as it will enable q man to make sure of
| what he is getting.
| Loans by Banks.
| This, in the light of another prospective
| provision, authorizing the national banks
| to loan money on real estate up to about 40
| per cent of its value, will undoubtedly pop
| ularize this kind of investments among per-
1 sons with money to place. If a person can
| go to bank, and, by presenting as security
| the certificate of ownership to his property,
/ procure a loan as quickly as if his certifi-
| cate were one of Indebtedness of financial
corporation or stated amount of stock,
| there is no reason. 1t Is stated, why real es-
| tate certificates will not be listed on the
| stock exchange This, of course. would at
/ tract numerous financiers who would other
wise look askance at real estate, which, al
i though stable, would be difficult to realize
| money on quickly.
/ Mr.. Fairfax of the Arm of Stone & Fair
! fax stated yesterday to a reporter of The
1 Star that in view of all the facts and indi-
cations mentioned in the foregoing he was
somewhat optimistic regarding the outlook
| for the Washington real estate market. He
sad the transactions made through the
a Sency of his Office had been quite numer-
| Gus since January /, and promised to In
| crease as soon as the weather takes a turn