The Washington herald., 1907-02-17
BROKERS HOPEFUL
They Expect Real Estate Mar
ket to Improve.
DEALER REVIEWS SITUATION
Few Actual Sales Recorded, but
Many in PrOgress-High Prices At
feet COMMUNICATIONS Given
why Good Trade May BE Expected
During spring and Summer.

Little actual trading or Improvement in
real estate has been reported during the
past week The brokers interviewed yes
terday stated that they have trades in
prospect. but that in working out the de-
tails they meet certain difficulties which
il is not possible sometimes to overcome.
Dealers generally are in a cheerful mood,
though they say there is little actually ac-
complished in the way of sales.
The fact is known that a number Of
large deals are on the tapis. Three Of
them have been published during the
week, one being the proposed sale of the
Van Ness estate by the George Washing
ton University and the purchase Of prop
| erty elsewhere. perhaps the Dean tract. at
| the head Of Connecticut avenue. Another
/ deal of similar proportions is the reported
taking Of options on property at the cor
| ner Of Thirteenth and IL streets north
west. for a purpose which has not yet
/ been made public. The third was the
/ sale Of the Mercer house on Rhode Island
avenue These are Illustrations of other
/ propositions which are more or less prom
/ ising in the business part Of the city and
| the resident section, but which will re-
quire weeks. possibly months, to bring to
a elimination. and it is no secret that
some of them. for one cause and another,
will fan through.
Broker Expresses His Views.
Speaking Of the general outlook of the
market yesterday, prominent broker
said that all things considered. there was
every reason 70 feel hopeful I believe"
he said. that we shall have a good spring
and summer business My reason for say
/ ing 50 Is that the prosperous times have
put I'm the hands Of the people money for
homes. Business people are considering
the question Of branching out In all lines
Of trade, and some Of them will want new
sites. and viii improve or put up new
buildings. Investors are more numerous
/ than formerly, and, so far as I am able to
size up the situation, Washington III be
as much sought after as a field Of invest
ment in the next year, as it has been
during the past TWO years.
/ Il see some are Of the opinion that the
large residence movement has spent its
/ force. and that we shall not have a repe-
tition of last years sales in the fash
ionable northwest section. In this opinion
I do not agree. Rich people are coming
along all the time, seeking homes here
/ There viii be as many sales. in my judg
ment, in the next two years as there
have been since 1880 / see no diminutiOn
In the calls for such property in my office,
and ] know that other brokers are re-
ceiving similar calls for high-priced loca-
tions.
AS for dickers in business property.
have never known time when there
We're so many, and were IL not that own
ers are holding their property at figures
which is actually driving money out Of
the city, all the available business prop
erty would be sold inside Of three months.
| But We shall find the buyers in the end.
and the property viii be sold II is not "a
Iquestion Of money seeking investment here.
but of getting the right amount to satisfy
the demands Of those who have the prop
erty for sale.
Season May BE Active.
! Il believe the coming season is to be
one Of the most active in the history Of
Washington in the sale Of new subdivided
lots IN the suburban sections. The ma
jority of these lots viii be bought by ac-
Itual home seekers, who are sick Of the
high rents in the old and insanitary
houses of the interior Of the city. More
over. the people are weary Of crowded
conditions. and all this works 70 scatter
the population into the country about the
city, and the movement is gathering mo-
mentum instead of losing 1t, as some seem
to think
THE records of property at the court
house during recent months show which
way the wind blows BY looking over the
.
see that numerous transactions are gong
through in the subdivisions when We're
placed on the market last year. In the
majority of instances persons are paying
cash FOR their lots. Houses will be built
on them as soon as arrangements can be
made and they will move out of the city
permanently. There are plenty Of houses
now in the city for newcomers. The
rent sign can be seen in many streets
and far-seeing ladlords have begun 10 fit
up their houses better, so as TO realize
higher rental than could be expected with
them old and run down. ] say that the
ioutlook for activity in real estate is good,
and I shall be disappointed if my predic-
ton is not fulfilled.
Better Than Buying Stocks.
1 There is another view of the ques-
ton. Stock investments have been for
La long time uncertain. Government in
vastigauon and the various ways in which
che ljme-lght has been turned upon the
: management of railroads and great in
dustrial corporations have scared the pub
lie from Wall street and the cotton and
grain exchanges. This leaves money free
for investment in some other direction.
Real estate is the most natural channel
into which this money should De turned.
and I believe firmly that our market here
will feel the thrill Of this investment be-
fore many weeks. Spectators, ] am con
WINGED, are turning over the question in
their minds whether real estate does not
now offer better inducements 10 ma kc
money than the stock market
The sale of the Carroll Mercer property
on Rhode Island avenue, just east of
Connecticut avenue, with adjoining prop
crUv by r. G.. Brainerd. for So, 900. was
the largest deal reported during last week
I'm residence holdings. IL is understood
The house. after the present lease ex-
pires. VIII Zee extensively remOdeled. and
chat James s. Harlan. OF the Interstate
Commerce Commission, viii make il his
home.
Bureau Commission Meets.
At.- -o-iii--le-i-i having cl--. "a "a inc
selection of a site for the new home of
the Bureau Of American Republics held a
meeting yesterday afternoon, at which
several sites offered for the purpose were
( carefully considered, without any decision
being reached in regard to a choice The
commission. composed of Secretary Root,
Assistant Secretary of State Bacon, and
John Barrett. director of the bureau in
vited in for conference with them Min
isteT Felipe Prad0 of Peru; Minister L.
nacio Calder0n, of Brazil, and Minister J