The Washington herald., 1907-05-05

quiet during the week, as compared with
last year and two years ago, brokers
generally have a more hopeful feeling
than at any time since the beginning OF
the spring months. Several firms report
active business, and the impression is
that the market will liven up considerable
almost Immediately During the week
number of good trades have been COM
pleted. and the daily list Of records show
that the real estate men are bringing
things to pass In a substantial way
Building operations are also on the
move A number of the large structures
in the business part of the city are max
ing rapid progress. and some nearing
completion. The Inspector Of buildings
reported that the month of April had
been the banner month of the fiscal year
in the number Of permits issued and in
the cost Of the structures TO be erected.
one interesting fact brought out in his
monthly report was that out of 81 permits
issued for brick dwellings in April, the
estimated cost was S92l,s26. as compared
with 123 permits in March, with an esti-
mated cost of S593.30 showing that for
the month Of April the tendency was dis
tinctly toward higher priced residences.
The total figures for the month are re-
garded as significant by architects and
builders, the number of permits issued
being Az. ana the aggregate estimated
cost of construction footing up at $780,
SIS
Business Moves ia Suburbs
Brokers having charge of the suburban
subdivisions report fairly active business
In all directions the sale of lots is going
on and preparations are being made TO
build by many of the purchasers. 1t was
stated yesterday by "a broker conversant
with conditions Ia all parts of the Dis
trict that the coming summer would. see
probably a large; number of cottages
erected, beyond what are called the FIRE
limits, than ever before.
The same broker spoke of the move
ment among persons Who have been liV-
ing in apartment houses for some time,
and, growing weary of the crowded con-
ditions, are buying homes already built
or are purchasing lots well out of town
on which to erect houses Of their own.
This broker said that families of means
were doing this in sufficient numbers to
attract attention. He said most Of them
we're willing To admit that there were
many advantages in a well-appolnted fiat
which they would have to fOrego in going
TO the resident section or the suburbs 10
live But he said they hoped 10 make
up IN the matter of room and better gen
eral conditions what they lost in the way
of having everything done for them 10
order. as the broker expressed il.
The broker said the outgoing tenants of
the apartment houses who were buying
homes would have no peTceptble effect
upon those properties. as in all the
good apartments there were probably TWO
tenants seeking suites 20 one leaving.
This informant thought the average life
Of contentment in the fiat was about four
years, then. he said, families who could
afford it, went into rented houses. or bet
ter yet. bought houses in which TO live.
How 10 Buy Home.
Conversation drifted from this topic
TO the manner in which homes could be
purchased when the family did not
have sufficient money to pay for the
property outright The broker said the
usual way was to pay down a substan-
tial amount say $1,000 on a house
costing $500, and paying OF the rest
in easy amounts, monthly, quarterly
or twice a year. as might best suit the
purchaser The broker said there was
no difficulty in making such an ar
had a good position and his earning ca
pacity was equal 20 the obligation as
sumed. He said the family usually
became interested in paying OF the
debt, praCuced COmmendable economy
and paid for the property in few
years. He said that the number OF fam
lilies of his acquaintance doing this
would startle one not cOnversant with
the facts. and he declared that in
~-Frr
after being entered upon, except f0l
death or some real disaster were re-
markably few.
It was the opinion of the broker thaf
a family did not take a greater risk
in doing this than was justified. be
cause, if a man could pay rent prompt
~. he could make the payments on hi:
purchased property with the same in
dustry, economy, and good management
This broker believed that the purchase
of a home by a family Wis direct in
centive to industry. saving, and conse
quent respectability.
The broker declared, after consulting
some tables of statistics on the sub
ject. that only about per cent Of per
sons buying homes in this manner fai
in ultimately securing the property.
Suit Entered to Compel Sale.
At different times since January 1 o
this year there have been Tum0rs of tn
sale OF property at 1877 and 1919 New
York avenue northwest. It has beel
stated time and again that the deal 70
IL had been c0nsummated, all except tn
passing of the deeds. Yesterday tn
facts came out. in the filing of a suit 4
force the fulfllment of contract Tn
suit was instituted by Robert NJ MCBrid
against Mary h Won Ringhartz and 9th
ers. the petitioner alleging that he pai
a deposit of $500 TO bind an agreement Z
take over the properties. It is allege
that the agreement was that the price o
the property should be $4,000, of whic
s25, 600 was 70 be paid In cash and IN
balance in stated payments. Mr.. Nc
Bride. through his attorneys, Lambert
Baker, AYERS that before the expiration
of the option he demanded the fulhllmen
of the contract, which was refused by tn
defendants.
II was further stated in the petitio
that Mrs. Won RinghaTtz holds a life II
terest in the property under the viii
Susan ". Riley and the other defendant
possess the remainder
The property involved lies in the yer
center Of the uptown business sectioI
and efforts 10 effect its sale have bee
frequent within the past year, severi
firms Of brokers taking a hand at It.
VIII Remove ola Landmark.
Announcement is made that one OF tn
ancient landmarks of Georgetown is abou
10 give place TO a new structure. 10 B
used for charitable purposes. The build
ing in question is that occu6ied for man