Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-09-21
REAL ESTATE GOSSIP
Washington Underbuilt Rather
Than 0verbuiIt City.
A BUSY RENTAL SEASON
Significance of Demand fer Houses and
Flats.
MONEY SITUATION DISCUSSED
Activity in Property in the Suburbs
and Some of It's Present
Tendencies.
A BUSY RENTAL SEASON
MONEY SITUATION DISCUSSED

fur r.nt a.- busy or have bee" busy dur.s
the pas { weeks Tn Isis issued by
real sst.t;. houses FOR tn Information Of
their customers giving III location OF resi-
denres for rent and the rental price and
other information have dwirGisd percep.i-
bly, in I.ue.j, so that they furnish the best
sort OF evidence that in this respect there
Is activity in The market.
It Is quit, clear the supply Of hoGs $
az well as Of apartments will practically
be ex al.st.d before the close of the rent
ing season. In fact, IT is now common to
hear rea, estate men say that all accom-
moIa..auS Of this character re gone. How
ever that may be. 1t is apparent what
Is left will b. taken before many days
elapse S. taat early in the fall 1t may
be said e this city that it is unde.Jdiit
rather than overbuilt.
Looked on as Important.
This Is a phase OF the market situation
which is look d upon by those whose juIs-
meut is recognized to b. sound on sHch a
subject IS of the utmost importance. Out-
side OF this The market is not "A specially
good one. owing mainly to ths feeling that
prevails in regard to the us of money.
The advice that is give. OIL this subject
by those who control a good dea! Of the
available supply is not in the direction Of
promoting active efforts.
There seems To be an idea that the future
is UnCertGiu and pV0p.r are COuuSaleI to
wait for developments, As long as those
who control the funds feel this way there
Is not much likelihood Of active business
growing I'm scope. As this state Of mind is
based on conditions which are not entirely
local, Improvement in the general mar
ket will 10. OF direct benefit here. Such
change has been recognized now taking
place. or II may he expected realty loans
will be more abundant.
As to Local Conditions
The recession in trade which is so much
talked about liable to happen in the
country at large. and which some p~op.e
think is to some extent the product OF the
Imagination would not in any event have
the same effect here as it would in other
cities, for the reason that the government
pay roll is suCh a factor in local cOndi-
tons and does not shrink even in hard
times
When. however. an Improvement takes
place and financial men and those who
have the money to spend change their atti-
tude, then the realty market will be found
to be ripe for the investor All that IS
needed at the present time. according to
some observers, is money. There is no lack
of opportunities. 1t is asserted, to make
money. especially along the line of building
additional. house accommodations.
The Home Buyers.
At the present time In addition to the
good market for renting the demand for
houses from those who want to buy homes
still continues. In fact there is always a
market of this kind and the only change
that is noticeable is widening or a mar
rowing of its scope. Just at present 1t Is
not broad as dealers would like it to be.
But for the smaller class of houses brokers
ind a steady demand. Anything in the
shape of a house that can be had for $500
and under is apt to find purchaser. 1t is
al hat he n arNrYr
does not seem to have at his command as
large an amount for first payment as is
found 10 b. the case in other times. but
with that exception there Is no change
save, perhaps, in volume in this part of the
business.
Wants of Congressman.
One of the brokers who gives special at
tention to renting detects in the market in
dcations of the increase in the salary paid
to members OF Congress. and especially to
those of the House. The addition Of 81 800
q year to the salary forms quite an item in
the income account of the legislators, and if
they want to have entire houses for the
season. or something perhaps a triie room
Ter IN the way of apartments, 1t is not to be
wondered at. and will be looked upon as
very sensible use to which to put lie addi-
tfonal revenue.
1t Is quite evident as they form an eIe-
ment which attracts attention in this mar
ket that Washington is no longer regarded
by members of Congress as mere camping
place dgFiuS the session. or an expert
ence that must be endured until termi-
mated at the end of the session.
Homes in the Suburbs
1t is the opinion that one result of the
season that is past will be quite a change
in the suburbs During the past months a
number of subdivisions of land have been
placed on the market. and a good demand
has been found for the lots. According TO
the statements made by those Interested in
such properties. II is the purpose of the pur-
chasers of ground to improve 1t by the cree
ton of dwellings for their own use
II Is said that speculative buying has not
been feature of this class of business and
from that point of view 1t is evident that
during the coming days OF the fall ard in
bhe spring building will be active. Homes
OF this sort have the advantage. when COM
pared with houses in the more closely built
sections Of the city. of more room, not only
In TIE immediate vicinity of the house but
I'm the general locality and to those who
have children. as well those who ike
bit Of lawn or garden about their houses
suburban property makes a special APP
peal, In these days of street railway facili-
Ties and the extension into the country of
many city conveniences life in the suburbs
does not present the prospect of hardshps
that was formerly associated with it.
Building Improvements.
Persons who have been away from the
look about on their return to see what has
been done in the way OF new buildings or
changes In existing buildings. 1t does not
seem To be the thought the part OF any
one VINO has resided in the city for any
length of time that II will be possible TO
come back after even comparatively
short absence and find everything just the
came as when they went away
That has not been the style Of doing
things in Washington for several decades
past and notably during the past few years
The growth OF the city as marked by the
extension of the closely built UP section
and the addition of new regions to the city
area has been continuous performance
so that on every side practically through
the entire year building operations have
been in progress.
Growth in Population.
In fact. the average citizen has gained
considerable skin In getting around piles
OF building material he encounters on his
way from his place OF business to his home
skill that only come from long
practice. The development OF the city
along such lines has been remarkable and
there signs that the end has come.
II IS true that during the past season
there has not been as much done in building