Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-11-10
REAL ESTATE GOSSIP
Something About the Present
Supply of Buildings.
IS THE CITY OVERBUILT?
Conclusion Said to Be Reached That
It is Not.
NEWS OF THE CURRENT WORK
Additions Being Made to the Struc-
lures Both in Residence and
Business Sections.
NEWS OF THE CURRENT WORK

market that is of more interest just now
than that of the supply of houses and
apartments. and the relation of that sup
ply to the demand A great many people
are Interested in knowing the actual facts
about such condition. and as there is no
definite way in which such information can
be secured. it is left to inqurers to get it
as best they can If there was only some
method of finding out with accuracy exact
ly how many vacant houses and suites in
apartment houses there are In the city then
1t might be possible to proceed with some
sort of deiniteness with plans for adding
to their number
There is no such method. Some people
rely on what they see as they pass along
the streets of the city. They get some no.
ton, or think they do, of the condition of
Things by noticing the signs of ITO let
displayed on the houses. At times II seems
TO them that they more of such signs
than they do at other times.
As to Vacant Houses.
Such is the impression at the present time
of man who Is an investor especially in
apartment house property. He has been
about the city during the past few days.
and he thinks that he does not remember
10 nave seen as many signs For rent" at
tached TO houses he noticed during the
"Trip That is, of course. merely COMPARE
son of what he sees and with what he rec
the year before, and for that reason it
lacks that quality of accuracy which is de-
sirable in such a connection
SUM II is worth something even if it is
no more than an impression. and there
IL no one who has the right to DENY
or set 1t aside except so far as it CONTRA
oicts similar impression acquired In the
same way. Against such a view or idea
OF the market may be placed the Testimony
of the rent sheets in the offices of real es
tate brokers. which show that there are
no more houses or apartments for rent at
this time than was the case at the same De-
Rod last year.
No More Than Usual.
In fact, the men who handle this class
OF property for the owners say that the
rental season, which is now coming TO an
end, has been very good one and that the
demand. which has been large, has been
supplied, and while there are still houses
and suites in apartment houses for rent.
sun the number of such vacancies Is no
larger than Is customary at this season OF
the year.
That is the situation. as far as can be
summed up with the means of Information
AT hand. There are also other indications
OF the condition, and one Is that the building
OF apartment houses has practically come
10 an end, for the reason that II is impos-
sible to get loans on that class OF pron-
erty. 1t seems that the trust companies
and individuals who furnish capital for such
purposes have come to the conclusion that
their action in refusing to make any more
loans is sufficiently uniform to put stop
TO building operations of that character
Market for Houses
II may be taken for granted from this
circumstance that there is something more
than a mere impression on the part OF the
people who loan money that the city Is
overouilt, as far as apartment houses are
concerned. On the other hand, no such
check has been given to the building of
houses, and il is said that loans can he
secured on that class of property SO that
are able to secure il.
or course. 1t may be said in regard to
this that, as there is no other method
open to the companies and others having
money to loan for building purposes of
placing their funds except by loans on
houses. but 1t Is not likely that they would
continue to place such loans IL there was
not a good prospect OF the borrowers beine
able to find a market for their houses and
thus be in a position to pay of their loans.
Inquiries From Home Buyers.
1t may be inferred from this latter con-
sideration that the market for houses In
good one. and there are people who want
to buy them as well as to rent them and
the operations that are now being financed
are TO meet legitimate demand This fact
may be laid against the impression OF the
present situation as stated, and In that way
perhaps a broader view of the market can
be had than in any other manner.
Further information to the state of the
market can be secured from real estate
brokers who hear what people have to say
who come into their offices asking about
property. 1t is said that the inquiry from
home buyers continues to be good and that
the number OF such inquiries reaches such
proportions as to be fairly astonishing at
times. OF course ii is not meant to be In
ferred either by the brokers who talk this
way or by others giving currency to such
views that there is a boom on. for such Is
not the case There is, however, a good
healthy demand for property.
In trying to meet this demand houses are
being built and 1t is probable that they win
continue to be built as long as such a state
OF things Is revealed by the current busi-
ness.
Decrease in Official Figures.
While the record of the building inspect
or's Office for the month Just closed shows
that current building has fallen or in vol
ume as compared with the previous month.
still the fact remains that there Is a good
deal going on. 1t Is likely that such win