The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1906-02-18
REAL ESTATE AND
BUILDING NEWS
Speculative and Building Activity
Continue Without Any Kind
Of Apprcciable Abatement.
SUBURBS GETTING IN SWIM
Many Handsome Residences Co
ing Up and More on Architects
Designing Boards.

million dollars changed hands for real
estate In and around Richmond last
week.
or course the center of attraction was
in the western part of the city. In which
direction the eyes of both home-seekers
and spectators are turned. but all of
the money that was put into real estate
last week was not invested in that To-
calty. Every part of Richmond is in
demand. and the decision of Judge Nicol
on the annexation question has opened
UP the suburbs 10 share In what may
be termed n legitimate real estate boom.
a decidedly pleasing feature OF the past
weeks activity is the fact that majority
of the buyers were actual settlers
people who were buying lots to build
upon. 1t is true that spectators were busy
much In evidence and they bought heav-
ily Some of them may live to wish they
had not bought quite 80 heavily, but the
fact remains that a majority of the buyers
bought to hold and to improve.
While there has been speculative
movement all along there has been an
effort on the part of real estate men. as
far as possible to suppress the boomish
tendency, and 1t is claimed that there
has been no boom-nothing more than
legitimate advance In real estate, per-
Sectly justified by the conditions. a.
very conservative real estate man talked
freely with Times-Dispatch representa-
tive yesterday and among other things
said:
"Buying has been very brisk during
the past week. and from present indica-
lions, will Increase. IT Ia especially
good sign for the community that the rise
has been gradual and not all at once.
In talking with the leading MEN who are
conversant with the situation. am led
to believe there will be n steady demand
for property In the western section OF
the city for A good while yet. BY look
Ing at the growth of Richmond for many
years past you will see that the growth
has been in westerly direction. WITH
our Increased population. the west and
the north will be practically the only
outlets. The more pretentious go west
ward, and the others will build In the
northern and suburban districts. No mat
ter which section increases faster. we
all depIore sudden rises in property. which
invariably do untold harm to the com
munity in which they occur. We do not
fear this. inasmuch as those buying will
In most cases erect their own homes and
make the districts now so active a hand
some residential section
A Few Big Sales.
Some large sales have been closed dur
ing the last few days In both city and
suburban property one OF the most Inn
portant being made by j. b. Elan and
Company OF over 400 feet on West Broad,
near Allison. for approximately $4,000.
Mr.. Funston. of that firm. when asked
about the matter. stated that his firm
had contaminated such deal. but de-
clined to give any of the particulars.
Messrs. Elan and Company also sold lis
feet OF West Grace Street lots, near
Meadow, the consideration in this trans
action being about $4,000.
Mr.. r. A. Catlin says that while the
market is active, there are still some very
desirable properties on Grace Street.
Hanover. Ivy and the porperty immedi-
atey adjacent.
Mr.. t. NJ. Workman agrees. with Others
in viewing the situation as healthy out
come OF congested living that has char
acterized Richmond for some time.
I'VE have the population and the NOM
ey TO spread out" says he. and It Is
the best thing for the general welfare of
all that this movement be fostered.''
The south side of Broad Street. near
Madison. is receiving much attention. and
Mr.. Harrison, OF Harrison and Grant. pre-
diets good buying there both by those
who buy for good investment and those
who buy property and put bricks and
woodwork on the same.
Auction Sales This Week.
There are several sales announced for
the coming week. The first will be held
on Monday when the Highland Park
Realty Corporation will sell some more of
their desirable home sites. Mr. McComb
the treasurer. reports that sales have
been unusually brisk, and looks forward
to large demand
j. Thompson Brown and Company will
hold on Wednesday,. February 2lst. at 4:S0
2. NJ, the postponed sale, of Broad Street
corner lots at the northwest corner of
Broad and Kinney Streets, and on Thurs.
day, February ed at 4:3O y. NJ, the same
company some lots at Carter and Blair
Streets.
In talking with S. L. snowden. who rs
selling Brookland Park lots, The Times
Dispatch man was informed that the sale
of suburban lots is increasing each day.
Mr. Snowden thinks people OF moderate
means are realizing that living in crowded
sections is notaas comfortable as having
plenty of room.
Fifty lots have been sold by Mr.. Snow
den in the past ten days., and he predicts
still greater results, owing to the Access
slbility and low price of the suburban
property especially the section lying be-
and the Seaboard Air Line. onrthe Lake
side and Laburnum car lines.
DR.. j, Il. Lehr, State manager of the
Standard Trust Company, In discussing
the real estate situation from financial
standpoint, reports that applications ale,
increasing daily for loans with which to
invest in homes In this vicinity and he
surrounding country. DR.. Lehr says that
in his opinion the percentage Of house
owners will be twice as large this year
as any late year previous. The fact that
homes may now be purchased on the
small payment plan. with Il low rate of
interest for loans and long time payments,
is sufficient to put many people who
never before thought of building very
much in the humor,
Active Building Operations,
1t was learned from a reliable source
on Yesterday that n we'll known arch-
tect had In hand the drawing OF plans
for q most costly and handsome home for