Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-12-22
AS TO RATES OF INTEREST
Influence of the Union Station Site on
Values.
TWO WELL-KNOWN CLUB HOUSES
Record of Activity in Realty as
Shown by Number of Papers
Recorded.

The recent transactions IN property on
louisiana avenue between 9th and 10th
streets attracted attention for several rea-
sons. among which is mentioned that a
transfer of title to real estate in that sec
ton is seldom recorded. Like all property
20 situated that it is steadily rented and
from which the income is sure and regu-
lar the owners seem to be disincdned to
part with it. 1t remains year after year
I'm the same holding, as there is no motive
to change the character of the investment,
for the chances of finding anything else
that is its equal deters the owners from
accepting offers which are attractive be-
cause they show an advance over the prices
paid several years a go for the property.
There are other sections of the city where
about the same conditions prevail ana
where values are more or less fixed, al
though in a city like Washington, which is
growing rapidly and is improving, it is al
most a contradiction to speak of values of
realty remaining unchanged for any length
OF time.
Interest Rates Affected.
At the same time there is a permanency
and a substantial footing in the investment
market of realty that indicates the prog
ress made here toward the very best con.
ditions that are supposed to mark real
estate as an investment. Even the rate of
interest is Influenced, and while as a rule
the rate for loans on property in the Dis
trIct IS per cent at the present time, yet
for a loan on business property well stu
ated and with good margin the rate would
be much less.
There is nothing that so strongly testifies
to the real value of property than the cur
rent rate of interest which people are will
ing to take on loans secured on the prop
erty. AS the values become steady with an
upward movement which is gradual one
through the years, then it will be found
that the rate to be paid for loans goes
down. 1t is for that reason in such a CEN
ter New York that real estate loans at
a. low rate as 3 per cent are made.
Extensive Grading.
The extensive work Of grading the high
ground arising from the former boundary
OF the city and known as Florida avenue,
and extending north to Euclid street be-
tween 18th and 18th streets, is finished
Two additional squares have been added to
the available building sites Of the city, and.
what is more, the ground has been brought
into conformity with existing grades. so
that the lots will be available for building
purposes.
In order to bring this about a great mass
Of earth had to be removed. and now that
1t is accomplished the grades supplied by
Engineer Howell can be understood There
L. a gradual slope from Florida avenue to
the top of the hill. and there are broad,
level places where the houses are to be To-
Gated.
Out Connecticut Avenue.
Another extensive piece of grading work
is now going on along the line of Connec-
ticut avenue extended. The section affected
is north of Grant road. and what is being
done is to slice off the top of one of the
hills which are so numerous along the
route of the road and carrying the dirt
thus obtained little farther along and
using 1t to fill up one of the hollows which
alternate with the hills all along the line
OF the Chevy Chase railway.
When Connecticut avenue was opened up
several years ago ii was not done at public
expense, but by the company that at that
time owned the Chevy Chase railroad, and
also a good deal of the property along the
avenue. 1t was big undertaking for those
days, the expenditure ran up to large
sum OF money. The chances of getting 1t
back did not look promising, for the city
had not gotten far out in that direction
as it Is at the present time. Yet 1t was
only about a dozen years ago that the ave-
nue. was extended and the car tracks laid.
In Spite of the Holidays.
Although the preparations for Christmas
which everybody is supposed to be occupied
with just now engrosses the attention of
people who are interested in the real estate
market want to be, or ought to be. and
TO a considerable extent the brokers feel
the influence of the season, still it does not