Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-05-19
REAL ESTATE GOSSIP
The Kind of House Home Buy
saaisn ers Want. ... liz.
PHASES OF THE MARKETS
Situation in Regard to Washington
Apartment Building.
ONE RESULT OF THE SMOKE LAW
Movement in Business Property and
Reasons Why It Should Be
in Good Demand.
PHASES OF THE MARKETS
ONE RESULT OF THE SMOKE LAW

! 1.-The demand is for houses that cost about
S7,Ooo"
This was the opinion of man who is in
3n the midst of an active real estate bust
ness, and is therefore supposed to be famil-
lar with the market and its present phases
However. without. such authority 1t Is not
difficult to understand that such Is the con-
Tditon and no doubt IL the level was
brought still lower 1t would be found the
statement Is true.
II Is only another way Of saying that the
bulk of people in the real estate market,
as well In practically all other markets,
are those OF moderate means. The people
who afford to buy expensive homes or
building lots are few, and especially so
when contrasted with the entire popula-
Zion. On this account there has been a
steady pruning down OF the figures at which
houses have been placed on the market.
and much of the activity In house-selling
that has been and continues to DO such
q feature Of the market Is due mainly to
this very condition.
Attractive Prices for Houses.
1t has been possible of late years to place
on the market houses that come within the
range of people with limited incomes, and
this has been brought about by the prac-
also in the gradual lowering in the price
of land Builders also have been satisfied
with less profits on each house. and to the
buyer this has been shown in the market
price.
With wholesale building. less profits, but
presumably quicker sales and cheaper
ground, Is found to large extent the ex-
planation of the phenomenal building ac-
fivity or the present time and Of the Inn
mediate past. OF course the country has
nd 90 hou fho< riv
this period, and In addition the population
has Increased. At any rate however, the
condition is explained. 1t Is looked upon az
highly important to the interests Of the
city that 1t exists at all, and that It has
not as yet been checked.
Apartment House Problem.
The Increase in the number Of home own
ers In any city Ia q matter Of much eonse-
quence. as on that depends in no small de-
gree Its permanent prosperity. AS there
Is no doubt about what has happened here
in that respect. 1t may be concluded that
our material condition just now Is on q
rather sound basis
At the same time, there are those who
look upon the character Of current business
as containing some element of danger. In
other words, they are inclined to think
building is being somewhat overdone There
Is no doubt that Is the belief entertained
q result but few OF them are now being
built or proposed to be built. OF course
the apartment, houses OF two OF three
stories in height or those that contain
small number of suites are being built right
along, showing that there is no loss of faith
in the popularity of this mode of living It
is evident, though there are enough of
buildings of the larger type for the pres
ent, and, as stated. some are of the opinion
that the same is true of houses However
this is not the view that is shared gener-
ally and 1t may be said that for houses
that can be placed on the market at a mod
crate figure the market is apparently a
good one.
An Illustration of Home-Buying.
Mr.. David Moore, who was largely inter-
ested IN property IN what Is known as the
Bloomingdale region, that territory lying
on each side Of list street northwest from
X street TO the southern bounds of the I'll
fratlon plant, in speaking of the develop
ment of that property said that within the
past ten years. during which 1t has been in
progress, there have been some four or five
thousand houses built in that section
Il suppose a conservative estimate would
be- he continued that at least so per
cent OF the entire number of houses built
were sold on liberal terms which means a
small cash payment and small monthly
payments.
Perhaps in no instance were more than
two to five hundred dollars paid down in
cash. and the balance OF the money was
arranged to be paid in monthly Install
ments OF So. In all that district In spite
of the unusual number OF houses built and
disposed Of on such terms, there Is vet to
occur one case OF sale of house In that
region under a foreclosure. 1t seems to me
that such condition must be gratifying to
every one who is interested in the continued
prosperity of the city and IN evidences of its
substantial growth"
Forced Out of Business.
One OF the results of the enforcement or
the smoke law IN this District is found in
the retirement from business OF manu-
featuring concern. Owing to the repea ted
fines Incurred Mr.. John Dodson who owned
and operated the Cooley llmekins at the
foot OF L street northwest has sold out and
gone Into another line of business. He
gives this the reason for the change
which he has made. His retirement from
the lime-making business leaves but one
concern still In operation here, and that Is