The Washington herald., 1906-10-21

largely avoided the real estate Offices
EXCEPT for purposes of conference Nam
of the local firms have spent long hours
consulting with clients or would-be pur
chasers, but most of the business Ia.
been held over to better weather foi
closing
one peculiar feature to which an &C
tive real estate broker directed the at
tention Of a Herald man is that in al
the dealing In Washington this fall NJ
large sums of money are involved in th'
operations. Trading. he says, is the rule
One real estate operator or investor
meets another. and they get up some
kind of a trade. giving notes where any
difference is involved, and the trade goes
through, the purchaser waiting for the
future to show the wisdom of his deal.
This broker described one deal Of a few
weeRs ago in which property valued al
over 100000 went through. In order tC
make the exchange the broker lifted q
deed of trust of $1,000 on the property and
advanced the buyer 5000 more 10 com
plete the transaction. The broker said
this was good operation from his stand
point. as It enabled him to make his CON-
mission and at the same time TO invest
Sl00o0 of idle money on fiTst-class Sc
curity. The buyer may not realize on the
deal for months to come, but it seemed
10 him Ike good thing and he took L.
This broker said this was a good illus
tration of the majority of the operations
IN real estate this year. Cash buyers, be
said, were few, and even those buying
homes were paying down an equity in the
property, trusting to good salaries OF
business to see them through on the pur-
chase. While this Is all legitimate, this
broker said he would like 10 see a little
more cash going into real estate, as such
a condition would augur better for the
winters business
Demand for Houses.
Renters have been fairly active during
the week. Families are coming back TO
the city. and those who had goods in
storage are seeking dwellings in which to
set up housekeeping. and not few new
corners are among those applying for res
licences.
Among the principal operations OF the
week in the way of deals is the closing
for the small addition to the Randolph
Hotel site, the purchase Of property on
which to establish the new home for the
Epiphany Church Association, the pur-
chase of the property at the corner of
Fourteenth street and Florida avenue by
Or. Frederick z. Beecher, the sale Of
the corner lots at Sixth and X streets
northwest. and the effort of agents TO get
possession of the square bounded by
Sixth, Seventh, and K streets, and New
York avenue northwest.
Transfers of real estate-as shown at the
Office Of the Recorder of Deeds has been
fairly active during the week the major
ity being in the outlying subdivisions and
small holdings. The numbe- of deeds
fl for the first half of the month shows
an increase Of twelve over the correspond
ing period last year. The total number
of instruments filed was ga this year. and
S32 a year ago.
Building operation show no cessat ton
The effort of prOpc--v holders to have
their holdings improve is accountable for
much of the new construction while here
Is strong and kealthy movement towrrd
the erection of home. generally Of the
smaller pattern, anOES those who are
tired Of paying rent. During the month
Of August s. permits for nov dwellings
We're issued by the inspec.o,-Of buildings
the estimated cost Of which was S474S50
This general average has been kept u
through the first half of the month OF
papers daily for contractors who have
houses to erect during the fan and winter
Il is the talk among builders that Il. is
easy to obtain money on all legitimate
building operations, and this in part ac-
counts for the rapidly expanding rows OF
houses on new streets in the suburbs.
Building in Business section.
In the business section much improve
ness IS growing fast in Washington. and
merchants and small manufacturers, as
vel as those seeking office rooms are on
the lookout for more space and better
quarters. Along the upper end Of New
York avenue, between Fifteenth and
Ninth streets there has been much
changing Of old dwellings into business
places The same thing is true in the side
streets. particularly Thirteenth street. On
the west side of that street Charles s.
Langley has entirely made over 100 and 1872
owned by "A client of Stone 4 Fairfax.
who are now seeking tenants for the
property The new Office building of the
Epiphany Church Home Association in G
street has already been mentioned bv
The Herald, and Improvements OF a SINH
lar nature are going on all down the
streets nearest the business section. The
trading section Of street Is running
over into the adjacent streets to the
north. and shops are creeping in among
the residences at rapid rate This points
10 prosperity among the merchants and
the enlargement of all branches of trade
and supply houses.
Real estate dealers are turning their
attention to the changes likely TO grow
out of the opening of the new terminal
station. That great edifice is now nearing
completion. and before Congress closes
its next session the bills for the estab-
lishment of the street railway lines over
the plaza may be expected to pass and
the situation by the middle of next sum-
mer will shape up for the future of that
important part Of the city. Several deal
ers interested in property along r street,
& street and Massachusetts avenue, are
on the alert for what may develop there
within the next year or so. They are in
q sanguine frame of mind regarding
values in that quarter, and express their
BELIEF that there will be a big rise in
prices. One man talked with sees great
improvements to take place I'm F street
He declared that was the natural outlet
OF traffic from the front Of the station TO
the uptown section. He expects TO see +
street the scene of big hotels, restaurants,
and large apartment houses within the
next three years. He stated that there
had been many inquiries about property
there within the past few months. and
that he expected definite proposjtions
would soon be made to acquire holdings
In that quarter for the large buildings
which must in the near future be erect
cd there
Another agent has an equally rosy no.
ton about the growth Of G street and
Massachusetts avenue. He thinks. the
whole appearance OF things will be
changed with new forms of hl,ildirrs 70