The Washington herald., 1907-04-14
HOMESEEKERS Want LAND
David Moore Points Out Reasons for
Demand.
Washington Social Center of Nation
wealthy People Live Here and
Enhance Property Values.

Indications for spring business" said
David Moore. are OF the most hatterug
character. Homeseekers are inqulring for
property which viii not only be a home.
bat which also has a future to t. Wash
ngton to-day offers a grsster chance for
actual investments by the homeseeker
than any other city I'm the United States.
for the reason that every year there is
an addition 10 the normal population by
reason Of the influx Of "A large number OF
wealthy people who are buying and build
ing palatiai residences for entertainment
in Washington.
-Ths social character Of the city Is rap
Idly assuming so high a standing that IL
is now recognized as the social as well
as the official center Of the United States.
During the past year no less than twenty
five of the millionaire colony Of New
York have purchased homes OF arranged
to build magnificent residences strictly
Tor the purpose Of entertaining here dur
ins the winter season. For this reason
alone property ia Washington. especially
In the northwest. is enhancing in value
by leaps and bounds ard with this in
creased valuation ia this section, property
Atl ff-liHi SHtAttfaA f3l Al.f 4flHA4 tEA Is
naturally forced up as a result.
1T is rapidly becoming apparent that
the resident section where homes from
5.e0 O. $500 can be purchased with a
view 20 Increase IN valuation in the
future is now I'm the northeast and
southeast sections in the immediate viciu-
ity Of East Capitol street and the con-
vergiHg avenues meeting at Lincoln Park.
Probably no one investment in recent
years has paid such a large and abso-
iuteiy certain dividend as business prop
erty In this city. The section lying north
OF Pennsylvania avenue and west Of Fifth
street has risen steadily Ia value with
out regard 70 the class OF buildings which
occupy the ground. Small fortunes have
been made IN this property alone, by peo-
pie who had the foresight to buy in this
section ten years ago and await the de-
maud which, In the natural course OF
events. the business of the town re-
quired. Now. that it has become almost
"a certainty aH the ground lying south Of
Pennsylvania avenue down 20 the Mall
viii DE purchased for government puT-
poses. the speculative public has begun
% snap up every piece of property in the
downtown section which viii be available
n any way for business purposes. Al
ready the business section has reached
II street and is rapidly spreading north.
''The natural tendency Of the coaserva-
tive bome-seeker is TO buy where he
thinks the best chance is for increasing
valuation. II the indications of those
who are making inquiry and those who
are actually buying goes FOR anything, 1
should say that property north OF Florida
avenue and along the extending trolley
lines is 10 have a big boom the present
year Nine out of every ten inquiries
that we have from people who are seek
ing permanent locations are for property
in this section. Notwithstanding the
amount Of building going on. the brokers
are still unable tc supply the demand for
nearby suburban property. This may be
said to be due LARGELY 10 the fact that
there is an eyer-incTeasing inquiry for de-
tached and semi-detaChed homes.
Il do not mean to be optimistic IA my
prediction but rather lean toward the
when I say that there never
has been a better outlook for either home
seekers or investors than the District of
Columbia now offers. This is not en-
tirely the view of a man who is in the
real estate business, but the conservative
opinion Of an investor, and / say this not
withstanding the fact that building ma
terial is at a high price and labor at a
premium "