Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-12-29
REAL ESTATE GOSSIP
Features of the Local Market,
Past and Present.
MONEY NOW IN CIRCULATION
Importance of the Home Buyer in the
Situation.
AS TO BUILDING REGULATIONS
Changes in Type of Houses-Condi-
lions in the So-Called
MONEY NOW IN CIRCULATION
IS TO BUILDING REGULATIONS


In several particulars the twelve months
now nearing an end will be looked upon
as notable In the history of the material
development of the city. The market for
houses has been a rather unusual one and
the additions to the number of apartment
houses have brought out an unexpected
situation. 1t has been demonstrated that
In spite of the great increase in the number
of such structures the demand for accom-
moda tons has kept equal with the supply,
ample as 1t has been. The activity In build
Ing during the fiscal year was something
quite out of the ordinary, especially foiiow-
Ing as II did year when good deal was
accomplished In that direction. At the same
time while SO much has been done toward
providing for the needs of growing popu-
lation, the general government has had
more buildings under way than at any one
time in the previous history of the city. 1t
is estimated that building operations to the
enormous amount of about twelve million
dollars is under way on the part OF the
general government alone.
Large Sums Expended.
Expenditures will, of course, continue for
several years yet or until the big buildings
that are now in process of erection are
completed. Large sums of money have
been spent here in carrying out the extern
sive plans for the steam railroad terminal
In this city and for the erection of the ex-
tensive union station. 1t is stated that all
told the railroads spending in this city
the of fifteen millions of dollars. All
these large undertakings were not begun
this year, but they have been going on
and the expenditures on their account form
- very important detail in the sum of the
prosperity of the city.
1t will be recognized a once that with all
this money being distributed in such way
as Il would come back quickly into the
regular channels of business that all the
activities of the community have felt the
stimulating influence, so that not only In
the line of real estate, but in other direc-
tons the city has been prosperous.
Home Buyers.
In the realty market the favorable condi-
lions have been shown by the demand for
houses. The increase in the number of
home buyers has been by all odds the most
promising development of the entire year.
1t is safe 10 say that this also has been al
most without parallel. certainly in the vol
ume of business that was developed. House
buying has to some extent always been a
feature of the market here. out it is only
within the past few years that it has reach
ed such large proportions.
In order to supply this demand building
operations have been carried on extensively
and large tracts of land which have been
unoccupied now built up either in whole
or in part. The contribution which was
made during the past twelve months to-
ward this end has by no means been insg-
nlicant, and when taken in connection with
what was done during the years imme-
diately preceding the total is something
that is highly impressive
Valuable in the Community.
The significance of this movement can
hardly be overestimated. for 1t means in
manent residents of the city and the quail
ity Of that addition is another circumstance
which gives Importance to the mere array
of figures showing the number of new build
ings put up during the past year. People
who buy houses for the purpose OF provid-
ing homes for their families and who pay
for these homes by the slow and self-deny-
ing process of monthly installmentS, or
small payments. as their savings will per-
NIT, are recognized as Valuable members of
any community.
They are the substantial element in any
center of population, and it will then be
conceded that on this account and not mere
ly because such buying represents a lessen
ing Of the supply of houses that the move
ment which gained such Roadway during
the past year is looked upon as of so much
value and consequence The prospects for
the year to come is that home-buying is not
as yet over and that it is going to con-
tinue.
As to the New Year.
1t NAV be some prudence will be exercised
in waiting for convincing indications of the
state of the market before starting with
large building enterprises at the opening of
the coming season. At any rate there is no
lack Of confidence on the part of those
who have the money to spend as to the fu-
ture of the city, and that it is going to
continue TO grow and expand along the
lines 50 splendidly laid down.
While the filing up of all the apartment
yphi haV HG.aD
erected of course, means that the popula-
ton of the city is increasing. yet 1t also
means what is of more significance, that
the character of people is of superior
quality. There is another feature of import
ance about this particular phase of the sit
nation, and that is the information that
large number of government empOyes are
among the home buyers.
All Doing Their Share.
The latter form quite the largest of the
several classes into which the community
can be divided. and the knowledge that it is
thus doing its share in the advancing prog
ress which is going on is gratifying one
In fact all elements of the city are taking
some part in this movement, and that to-
gether with the additions to the population
by those who are drawn here because they
like Washington as a place of residence, 1t
NAV be concluded that there are not only
good but very substantial reasons why this
city is prosperous and why the prospect Is
that the coming year Will witness q turther
movement in the same dlrectlon
Regulating Building.
1t s likely the building regulations during
the coming year will be different in several
particulars of Importance from the way
they now stand The subject of the revision
of the rules relating to building operations
in this city has been uad"r consideration by
a committee appointed by she strict Com
miSsioners for that purpl.S. ana composed
of citizens who are fami;.-r wish many Of
the conditions to which the regulations are
sought to be applied.
1t is probab there will be an expansion
rather than a contraction of the existing
regulations providing for light and air areas
for dwellings or buildings used for that pur-
pose The effect of the existing rules, the
effect in part, is practically to put a stop
to the erection of back buildings to houses
with narrow fronts or those less than TWEEN
ty feet. OF course. since it is not allowed
TO have the usual depth for dwelling of
that character, IL does not pay to erect 1t.
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