The Washington times., 1905-09-17
PROPERTY HELD
At STIFF PRICES
Real Estate. Brokers Look
on 1t as Good Sign.
PREDICT LIVELY BUSINESS
Investors in Waiting Mood-Taking
Note of Improvements in Differ
ent Sections.

Leading real estate brokers hold the
opinion that while the market at pres
ent is in halting attitude, there Is no
reason to feel at all discouraged. They
believe that Washington is passing
through a period of expectancy; that
developments in different parts of the
city and in the suburbs cause many
persons who intend to invest TO pause
in the selection OF localities for invest
ment: that eventually this caution will
make for material advantage. both for
the investors and those who have prop
erty to sell. and that the coming winter
and spring will bring the long expected
forward movement.
One OF the most encouraging signs, in
their view of the situation. is the fact
that in nearly every section of the city
property, improved as well as unim-
proved, is held at stiff prices, showing
that owners firmly believe in the present
stability and future rise of values.
Increase in Population
One of the reasons for the faith that
Is in them. IL is said, is the impressive
increase in the population of the Ma
tional Capital. This increase is not due
alone to the natural percentage Of
come from all parts OF the country.
They also point to the indisputable fact
that a very respectable proportion of
these newcomers are persons of wealth.
To whom Washington appeals as a place
where they can enjoy all the advan-
tages offered by the great Government
institutions and a cosmopolitan society
OF the very best elements.
10 fe-% hx.e,x ton. IN he
lation from which much is expected in
the way OF real estate Investments, and
experience thus far has shown that this
confidence is not at all misplaced. Also
there is constant influx of outside
capital for investment In profitable
Washington real estate, and it would
surprise q good many people Were they
to know the millions that have found
their way TO this city for investment Of
this character.
SkyScraping Prices.
AS indicating at what figures property
is held in the business section OF the
city. it may be stated that since work
was begun on tne Municipal Building
and the new Times edifice, prices in that
vicinity have scared to heights that
would have been thought incredible a
very few years ago. A certain piece Of
property having a frontage OF about
forty feet. the lot of no very great
depth. is held at 100000. The improve
men.s simply have 49, value OF old
brick. but 1t is the belief OF persons
whose judgment in matters of this sort
Is entitled to respectful consideration.
thar the owners will get their price
before long. Other ground in the same
neighb0rhood is considered by its owner
to be worth not less than s25 a square
foot. and this, too, is not thought to be
excessive.
Reference has heretofore been made In
these columns to the enormous price ask
ed for the Old Stone property at the
northeast corner of Fourteenth and +
streets. but since then even this sky
scraping figure has been put un several
points higher. ProDortionately this
same condition may be said TO prevail
in the entire section embraced within
SIX or eight blocks north OF Pennsyl-
vania avenue and ten blocks west o!
Seventh street
Activity in Suburbs.
Tho greatest activity imaginable /,
manifested in all parts of the suburban
territory. Hills are being leveled; ia
vines filled up. grading is going OF
apace in all directions of the compass
and not the least remarkable featur,
OF II all is that promoters Of these sub
divisions declare that they are NOR
than satisfied with the results of thei
enterprises. There appears to exist
tendency on the part of large mum
Der OF people to exchange residence fl
the city for residence in suburban local
tiles. not too far removed from the bust
ness center. and they favor. especially
those in convenient street railway corE
munication.
1t Is evident from the daily record G
real estate transfers that there Is
healthy demand for property OF thi
kind. and this augurs well for the Ut
building of portions OF the District tina
few years ago, were regarded in n
other light than land suitable for true
farming or grazing.