The Washington herald., 1906-11-25


scribes the condition Of the real estate
situation at the end Of the week
While d number of firms are quietly
selling houses and lots, while there are
several trades on for larger or smaller
slices Of property within the city, the
most striking feature of the market is
the number and extent Of the deals being
engineered for subdivisions and the open
Ing Of new places Of residence in the
suburbs.
The subdivisions that have already been
opened, such as the Connecticut avenue.
terrace. SauTs addition. and other tracts
along the line Of the extension Of the
CaDital Traction cars. Randle Highlands
and the big tract at Berwin are attract
ing purchasers. there are other deals in
the air Of even larger dimensions, which
the agents say are just ready to close.
It is not possible at the present time
to give the location Of these large oper-
aticns, but each Of four that are nearly
closed with the prospective buyers in
wolves property from $4,000 TO $200o0)- All
OF them are suburban properties. and viii
open To the market in the near future
prospective home buyers.
Growth of City Predicted.
In discussing the effect OF the opening
Of these large tracts in the suburbs upon
the values OF city property. and upon the
future Of Washington. one well informed
broker said II pointed Enthusiastically TO an
expansion Of the city greater than any
one could now realize.
He declared that he did not believe
property in the city would decrease In
value BY the scattering Of the population
over the wider area. He thought the
movement into the surrounding region
WAS in response 10 the demand for homes
Renters in the city who have means ac-
cording 10 this view. are seeking perma-
nent homes away from the center of the
city. Better car facilities make such res
licences possible. and pleasuTable. 10 those
who are trying 10 locate permanently. As
the city renter goes 20 the suburbs an
other takes his place from the gradual
increase Of the population brought hith-
ct by the growing business Of Washing
ton.
Takes Optimistic View.
This broker said he could not sec how
any one could take anything but an op-
tlmistic view Of the present outlook for
Washington. He said he could see Moth
ing. except some overwhelming misfor-
tune. like the panic Of 1893, the earth
quake Of san Francisco, or the Baltimore
fire. which could possibly head of the
splendid progress in store for the Capital
of the nation.
The broker traced the general move
ment IN real estate for the past year,
showing how property for sale in the
business section had gone at high figures
proving that the old property now giving
place in all directions 10 new improve
ments is not depTeciating. but really ap-
preciating in value All the property sold
in the residence sections Of the city prop
er. he said. was bringing good prices.
While all this was true OF what might
be called the urban property, suburban
holdings We're advancing at a rapid rate
Never in the history of Washington, he
said had there been IN single year SO
much new territory opened to the home
seeker. II had been opened he thought
not alone In answer to a speculative spir-
il, on the part of dealers and investors
but actually in answer to the demand for
more room TO accommodate the popula-
ton. At the present rate. or even at a
much less average rate, this broker
thought Washington would have close tc
100000 inhabitants by the time the cen
sus Of 1920 should be taken.
Some Sales of the Week.
Among the sales of the week reported
by the brokers was that OF the Gait home
at 1553 New Hampshire avenue. to Cen
George I. Gillespie. L. s A. retired, fol
$4,000
Bates Warren also conveyed to Alex
r~-1T
F. Collins. and Louis Bush two lots ir
Washington Heights" for a nominal con.
sideratoE. on which was recorded in
CUmbTanCe of $4,000
TWO lots on Fourteenth street and tw,
on Z street northwest were sold at auc
ton during the week, at an average pric,
OF about s. a square foot.
BY means Of a bill OF sale the Wer
chants Hotel 4S5 Pennsylvania avenue
was conveyed to Benjamin Andrews fo
the sum Of $1,000
The last OF the options in the squar
bounded by Sixth. Seventh. and 7 streets
and New York avenue was signed dur
ing the week, being the property at TIT
northwest corner of Sixth and X streets
including three lots. with the improve
mcnts thereon. The price of the option
IS said to be 1900. This property wa
sold a few weeks ago TO the presen
owner at about One-half that figure
RumOr on the Deal.
Much speculation has been INDUCED fl
since a well-known real estate firm be
gan TO get these options. As previousI
stated in The Herald. it has been rumor
ed that there was to be hotel built ol
the property: that it was being sough
to transfer Center Market to that point
that a big department store was in pros
pect. and that Western brewer would
II he could get the property, erect bi
brewery there
Now another rumor is added that tn
agents getting the options are doing so {
force up the price on an adjoining square
The one named in the story told is ina
bounded by New York avenue, Fiftf
Sixth, and X streets This is the squar
directly east of the one on which tn
options have been taken.
1t is said this property is for sale an
that the agents have sought, through tn
options gotten upon the more valuabl
square to the west. to force up the pric
on the property in the other square. whic
is not regarded so valuable. and on whic
there is a poorer class Of Improvement!
Like all the other rumors in cOnnectio
with this problematic deal. it cannot b
verified, for the reason that those VIII
could tell the secret viii not reveal it.
The options obtained hold good unit
March !, 1907, and in case the property
then taken the present owners are obi
gated TO give possession on July I, 1907.
Residences in Northeast,
Willige, Gibbs & Daniel have placed O
the market some fine twO-toTy brio
houses on Fourteenth street northeas
which are said to be among the most al
tractive residences in that rapidly grow