The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-03-10
REAL ESTATE AND
BUILDING NEWS
Agents Say Business Is
Dull; Lull Before
the Storm.
FOCAL BUILDERS
ARE VERY BUSY
Houses Going Up in All Sections,
| Including Lac District and the
Suburbs-Pronise Of Great
er Activity in the
Very Near
Future.


"Whatever may be the street rumors
you may hear to the contrary, and no
matter how many stories you may
get onto about big deals that are ON
the string as you call 1t, the fact is
there Is very little doing in the renl II
estate business in Richmond In largo
way. The agents are not Idle. They
are making living--more than liv-Ts
irg perhaps--but they are not doing
1T on big deals. They are selling q n
good deul of small property now anu
then, and they are keeping their once
forces comparatively busy In the rental N
lines renting houses and collecting
on the same; but all these big deals
you read about are not materializing.s
Thus spoke one OF the best posted
real estate men in the city yesterday
| He seemed to know what he was talk 4
ing about, and referred the man OIL
news to the records to CONFIRM his
report OF the conditions The records
were consulted, and 1T must be sald
that for two weeks past they do not
show any large real astate transfers.
.The truth is" continued this know
| ing man. there have been no largo 4
deals for two weeks past, and there
ARE not likely to be any for two or
| more weeks to come. The market is
very quiet on everything except small
homes and small properties. These 4
| are In active demand. and much more
business could be done IL there waa
more OF such property on the market,
both for sale and for rental purpos~ = gs5B
Possibly Too High. l
i Nearly every real estate asenc III
rSy+A Nh
A some information that was calculated
4 to CONFIRM the above view was obs.
4 tained from nearly every one OF then
1 All report an active demand for small
property in good locations and all sny
4 they have no trouble " renting good
property. but they find tho demand
fer larger ventures. either for perrna-g
nent Investment or for speculation
slow and far between.
There may be an exception as 80
|cligible Lee District property. There
I are investors who would love to taxa
stock in that part of town IL they
could find something that is really ~
bargain: but as a general rule they
are not hunting for anything that Is
high, and most property in that sec-
I ton is considered by SPECTATORS and
investors as rather high.
u 1t Is true that sales for the past
year have been larger than they were
for any previous year, but lull has
4 come, and both investors and homes
Ebuyers are waiting. XII
I, Tho fact is that most of the hone-l
, builders have found all the ground
they are ready to build on for some
time to come. There are many new-.
Corners In town who would like TO
| !, buy homes already built, and many
!, who would love to rent, and these ara
clamoring for homes at figures that
suit their purses; but, such homes are
> ! few and far between. Holders OF such.
whether they want to sell or rent, are
!, holding their figures too high. This
: / seems to be n fact that worries the
real estate agents not little. and
they find 1t very hard to get their
!, constituents on the happy medium
!, ground.
Busy Builders.
However. the builders and contrac-
tors are busy, and are likely to res
main so for some time to come. The
home-buyers have bought their ground,
r both In the city and the suburbs. and
having gone that far they are eager
tn put UP their little homes. Cons
tractors WHO are in the habit of builds
: ing small houses have their hands fun.
: They can get and are getting all the
. contracts they want from men who
. want small houses erected at once, ana
from invcstora who want to build for
y renting purposes, sg4
!: Messrs Moring 4 Butler, arm az
: the best known and among the most
reliable contractors In the city, yes
"a terday closed deal with Mr. j. n.
a Carneal to huild for him at once four
"a houses on West Grace Street, near Rob-
d inson a
" The work on these houses will begin
l. Tomorrow. and 1t Is the purpose OF tina
i've and up-toSate contractors to have
! them ready for occupancy by the 18th
;. Of July, possibly sooner These houses
=. are to have all the modern conveniences.
% and when completed, at cost OF about
l. $4,000 each Will be for rent. Messrs.
Morlng 4 Butler report that they have
other contracts that will keep them and
their large force busy for q year yet,
even Y no other Jobs should show up.
Builders In every part of the city are
busy from early morn to dewy eve, and
If some OF them report that they can take
no more contracts until they can In sons
way see tie end OF those on hand. In
deed. II looks as II the dullness In tha
t. real estate market means that more
= money Is being put IN houses and loss
l. IN the ground upon which houses may
l, later be erected
n Ginter Park.
l. Greatly Increased activity IN suburban
!. business has come with the breaking up
l. of winter, and there promises to- be q
boom In building in the dnter Park seq
q tion this season, as so many 81 the lot-
< owners are either building homes or are
/. The low tax-rate of tho county stimu-
= lates building outside the city llmlts.
y and where suburb has vide paved
" avenues. good water aud sewerage sys-
III TENS shaded walks, high elevation and
: good transportation facilities tho ads
Is vantages of the suburb owe. 40 city "a
j