Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-06-17
REAL ESTATE GOSSIP
Central Heating Plant for
Apartment Houses.
AN ACTIVE MARKET
NO INDICATION OF THE USUAL
SUMMER DULLNEss.
Various Classes Of People Joining the
Increasing Array of Home
Owners in City.

~ eEcCl OH lie ldHu ddJOihAh6 VA eAiS SeAS'S
of the apartment house which he built
there some time ago group Of five three
story apartment houses. The new struc-
lures will correspond in height with the
one now built. and in a measure it will be
part of the same improvement. Although
both the present building and the five that
are to be erected will be entirely distinct
from each other, yet according to the plans
prepared by the architect. Mr.. A. Goenner,
the entire group of buildings will be heated
from a central heating plant, which will be
located in the rear yard
The same system has already been tested
here by Mr. Goenner, when he planned the
twelve two-story fiat buildings which were
erected about a year ago by Mr.. A. O. Bliss
at the corner of 9Th and X streets north
east These structures are all supplied with
heat from central station, which is To-
Gated at convenient point in the rear of
the group. In addition to heat, hot water
is also supplied, and it is claimed that not
only are the tenants suited but the system
commends itself on the ground of economy.
No Dull Season Expected.
The approach of the warm season natural
ly suggests that the close Of the active
period in the real estate market is at hand.
Perhaps that Is the case in most places
and in most lines of business. and even in
this city in former years lull Of that sort
was by no means unusual. 1t Is possible
that something of the sort may be the ex-
perience this year, but thus far there is
no indication of it, although there have
been, and are now, days when there is not
quite such active market as is the case
at other times.
Last year there was but little attention
paid to the seasons. and in spite of the
fact that 1t was midsummer and the dog
days, brokers went right on renting houses
and selling them, but especially the former.
1t is stated that the renting season began
earlier last year than has ever been known
before, and 1t continued with unexampled
vigor until the lists of houses for rent were
pretty well exhausted. Since then the
builders have been engaged in trying to
come up with the demand and furnish
supply of houses and flats that will be suf-
fcient to go round.
The Demand for Living Room.
1t is believed that a good deal has been
accomplished in that direction, but of
course exactly the degree with which the
demand has been met is one of those inter-
esting questions. particularly to builders,
that can never be answered until an ac-
tual test of the condition Of the market is
made. When houses and flats stand idle
then the conclusion seems to be fair one
That there are more of such accommoda-
lions than there are people who need them
1t is not unlikely that the public interest
In houses, whether for rent or for sale. will
continue this year pretty well through the
season, but still that is matter only of
conjecture just at present 1t is known
however. that the class of home buyers has
greatly increased within the past few years
and that there are of course more people
who want to rent. The important consider
alton in this particular Is the growth of
the class of home buyers. 1t is believed
that this is more than merely the effect of
the increase In the population.
As an Investment.
There is better feeling about real estate
here as an investment 1t is growing in
favor: a fact which is strikingly shown in
the reduction in the rates of interest. This
may seem at first to be a rather odd rea-
son for appreciated realty values. It is
well known. however. that as such values
become stable and substantial there is
a corresponding fall in interest rates
This Is shown in such place as New York
city. where the interest rates on real estate
are the lowest In this country. A few years
ago per cent was the current rate on such
loans in this city, and now the range is
from to per cent. with a tendency to-
ward the lowest point in the range Unless
there was confidence in the stability Of
values such rates could not be obtained
here.
The same influence is at work In the sale
market. People quite generally are con-
WINGED that realty holding In this city is a
good thing. not only for present investment
but for future enhancement. Under such
conditions 1t is comparatively easy to per-
suade a man to leave the ranks of the
home renter and join those of the home
owner. According to the experience of
brokers who are In the forefront of the
property movement. the increase in the
number OF people who buy is very notice.
able and while there are no figures that
set 1t forth. still 1t Is believed to be a fact.
Who Are the Home Buyers.
AS to the question where the home buy
ers come from, which is so often asked.
there is no better source of information
than the books of the men who are doing
the selling. They tell the story in such
terms that there can be no mistake about
1t. It is quite evident that this class is
recruited from those who are In the gov
eminent service from those who are en-
gagged in various capacities in business and
other activities of the city. and from those
who come here for the purpose of locating
their homes permanently.
AS one broker put 1t the other day as to
those employed In the government service
ne nndS that there Is strong sentiment
among them that 1t Is bordering almost on
the disgraceful IL a man Is not engaged in
buying his home. provided he has not al
ready completed that undertaking. At least
the public sentiment of his associates is 30
strong that the average man feels called
upon to explain why he is not doing It, The
!aciiltles aHorded FOR home buyers and the
Inducements are SO strong that 1t seems
there Is no good excuse. Houses can be
bought FOR almost no cash or for very lit
tie, so that the requirements of every
pocket practically can be met
He Saved Money.
A man who Is buying house on such
terms in talking about the scheme the other
day said that he looked upon the payments
made on the second mortgage of so much
per month as dollars which he was saving.
The taxes. repairs and other expenses of
maintaining the property which stood In
his name, he looked upon as rent In this
view he said that he was paying less rent
than he ever did before and at the same
time he was laying aside some $50 per
month. When houses can be bought on
such terms at prices ranging from $4,000 to
5000 or 5000 1t is not surprising that the
number of house buyers has Increased.
For Business Uses.
The property 1927 street Is to be re-
modelled so as to make it more suitable
for business purposes. At present the first
floor Is used for store, but the upper por
ton of the building is still as originally
built, three-story house. 1t is to be occu
pied by John w. Fawcett, whose place or
business is opposite The property belonps
60, f. - IL