The Washington times., 1905-08-06
BUYING HOMES
GREAT BUSINESS
Almost M0nOpOliZes Atten-
ton of Brokers.
MONEY SEEMS PLENTIFUL
Lively Inquiry for Apartment House
Sites-New Electric Railway
TO Be Built.
MONEY SEEMS PLENTIFUL

According to a number of the brokers
sales OF real estate in the District are
largely confined. ct the present time, TO
small homes. with an apartment house
transaction varying the monotony now
and then. There is not, they say, any
demand worth noting for unimproved
real estate for purely speculative pur-
poses, although the needs OF the speed
lative builder cause some considerable
transactions in this kind of property
from time to time. Brokers are not in
clined to complain of this condition Of
the market. for relatively they fare as
we'll in u number of small deals as in
one or two more Important ones. Nearly
all agree in anticipating for the au-
tumn a continuance of this quest for
small improved properties. and from II
draw a very comforting assurance as TO
the steady growth of the city.
AS regards the distribution Of these
purchases OF homes ii seems as II the
central sections Of the city are less ia
vored than those nearer the confines OF
the District. The daily record OF real
estate transfers shows that the eastern
section is getting a larger share OF these
deals than any other. with the semi
suburban parts a good second. The most
obvious reason for this. OF course, is
in these sections where people OF mod
crate means can be more readily accom-
modated than IN those parts Of the city
where property IS held at higher prices.
Those who acquire property in or close
to the suburbs no doubt also have in
mind the more rapid appreciation OF val
ues in those parts.
Shows Substantial Expansion.
One of the brokers who has done quite
large business in small houses says:
'It may sound like a very large state
1nent, but it is d fact that I have sold
every small house I have had on my
list If any intending purchaser of such
property were to come to me today I
should have to hustle around 10 find
something that would suit. Born in this
city and permanently identified with its
growth and interests. am really pleased
with this demand for small homes. not
merely for what there Is in it in the
way of profit for the broker. but because.
IN my opinion, it augurs Well for the
substantial expansion OF the city,
''It is my experience that IN the ma
jority of cases the man who starts
young in life with buying a small home
for his family will, sooner or later. come
TO invest in larger properties. not only
for home use. but as a source of reve-
nue.. I think one OF the most encour-
aging signs, as far as the future Of the
District is concerned. is the unprecedent-
ed building OF small residences and the
prompt absorption of these by purchas-
ers or renters. 1t proves to my mind
more than anything else that Washing
ton is no longer q mere dependency OF
the Government, but contains within It
self the essentials of Independent expan-
$40 and prosperity, although, of course,
do not wish to be understood as dis
putting or questioning that the large
expenditures made here annually by the
Government and the many people drawn
here permanently or temporarily by rea-
son of its presence here contribute nc
ineonsiderable share Of its growth"