Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-03-24
REAL ESTATE GOSSIP
Demand for Houses During the
Winter Season.
NO LET UP IN ACTIVITIES
Both Rent and Sale Market Reported
to Be Brisk.
PROSPECTS FOR THE SEASON
The Building of Houses Likely to Be
the Feature for the Coming
Months

tAC 4 CdtuI6 the coming
Months
The buildings 1921 and 1898 G street,
"Alch recently became the property of Mr..
Thomas +. Walsh. are to be remodeled and
enlarged. The work. which will be done
under the direction of Mr.. T. A. Wicker
sham, the real estate agent of Mr.. Walsh.
Is not In any sense permanent in character.
1t is the design TO make the property more
generally available for business purposes
than 1t can be in its present condition
II IS the intention to extend the first
moor by the erection of an addition in the
rear that will be only one story in height
ana VIII not interfere with the supply of
hsht and air to the upper floors. BY the
erection of this addition two store rooms
VIII be provided the first floor that will
be 100 feet in depth. 1t is also proposed to
raise the roof so as to turn the present
attic story into full third story
Rapid Sale of Houses.
Some notion of the condition of the mar
ket IN this city can be gained from the ex-
peflehce or Blundon, OBrien & Belt real
estate brokers. They had for sale about
HIteen houses on the north side Of r street
between 18th and 18th streets, which have
Just been completed. In fact, the finishing
touches in the case of some of them had
present month ~
however, the houses were offered for sale
ana In twelve days the remarkable result
was reached OF the sale of eight of them
az ale price fixed, which was $1,000 each
When 1t is considered that this hammered
at a season or the year when there is not
much doing as rule in the real estate mar
we; ,DJ,v
showing an unusual condition when prop
erty can be disposed of with such rapidity
At the present time all but three of the
houses have been sold.
A New Residence
A residence is to be erected on the north
side Of lie Roy place, just west of Con-
necticut avenue, or Columbia road from
plans prepared by B. Stanley Simmons
architect. The house will be colonial in de-
sign and stone OF light shade and red brick
aliu aark headers viii be used in the con-
struction of the front The entire frontage
OF the lot, which is twenty-five feet. win
not be occupied by the house which will
nave width of some twenty-one feet The
side space will allow for opening along the
entire depth, which will be about seventy
five feet.
There will be four rooms on the first
moor, including the kitchen, and on the sec
ono Hoor four rooms and a bath while on
the third floor there will be three rooms
and a bath.
Proposed Apartment House.
Plans for large apartment house tn
be located III the northwest section of the
city are being prepared by Hunter & Bell.
architects. 1t will cover quite a wide area
and Will be the height allowed by law.
which is seven stories
This firm is building for Mr. \ TT Limo
at - street northwest, an apartment
mouse winch Will be three stories in height
and Will have a suite Of five rooms on
each floor. The dimensions of the buiidinp
will be 20 by 10. N-'iS
Residence of Nj. FairchiId.
Mr.. Daniel Fairchild is having nIars ,,,,s
pared for a residence to be buiIt On bts
property near Chevy Chase The house is
to be of the Spanish type of architecture
with roof of Spanish red tile The walls
Will be of tinted stucco, and there is TO he
court in the center with arches sun
ported py marble columns, and containing
a fountain and small garden George q
iotten' Jr, architect. made the design.
A Ready Market for Buildings.
Where do ali the people come from? fs
still question that occurs to the mind of
every one that notes the rapiditv with
which new buildings are occupied. As far
as can be ascertained there Is no let-nn
in the inflow of population. Peon,e arc
still coming. and when they get here they
must have place to live Some of them
want to buy homes, for WASHINGTON 4, 70
De to them permanent home Then again
they may not care to assume the care OF
separate mouse and so they find an apart
ment house meets their needs.
AT any rate, whatever the motive houses
and suites in fiat buildings are taken as
soon as ready for use, and although the
market has been supplied during the nast
hat to
parallel in the history of the city still there
Is not much left. The prospect for tte
coming season Is that there is to be another
period of active building, and Certainly
that would not be the case If II were no.
that practical men who are accustomed tn
look at Things from the standpoint of doll
lars are Endorsing this view of the coming
season in fashion that shows that # is
much more than theory with them.
The Supply of Money.
Men are not only putting their own monov
in this movement to add to the number of
houses and apartments In the citv hpt tbev
succeed in interesting individuals and cor
porations who have money to loan. II all
the building enterprises were carried on nv
men VINO had the funds and did not have 10
borrow there would not be much done in
that way, not only during the coming sea-
son but during any season
The condition of what is called real &C.
. tate loan market Is just as important in
the building trades the money rates are
IN the stock market. There is always n
provision made by financial institutions
especially In this city, for what are known
as builders loans, which are quite distinct
from real estate loans, although in one
respect they are the same the collateral 10
the same However. in the case of the
former they are supposed to be made for
the period required in finishing the build
ing ard then arrangements are made for a
permanent loan.
Methods of Financing.
In this way the institution loaning the
money has set free from time to time It's
loanable funds. which are thus kept ac-
lively employed in enabling builders to get
over the initial stage OF their building
operations, which is the time before the
completion of the structure.
In some cases the original loan lis di-