The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-06-09

Active Demand for Small
Homes andbyEager
Investors.
|PRlCES TOO HIGH;
BUILDING BOOM.

10 ElIlCIll-NClllCIS dIlu
"a Homeseekers Look
ing to the SUI
burbs.
The week Just past. according to the
real estate calendar, was supposed tG 4
have marked tho beginning Of the n
summer dulness and yet there was a Y
most active demand for houses ranging
In price from $4,000 to $4,000. the de-
mand for those at the former figure,
und from that UP several hundred ddl-
lars higher, being much greater than
at the greater price first named.
According to the statement OF one Of
the real estate men. the demand has
been too active. in that the much in-g
'quiry for homes Of the classes mon
toned has caused those who have such i
property to offer to advance their \.
figures. and thus 1t has been made
hard for the agents to consumnate
deals. @
Homes of the kind wanted by both
! buyers and renters are exceedingly
scarce as compared with tho demand.
and this naturally gives tho seller an
Inflated idea OF the real value Of the
Il
that the sales made during the past
week have been few as compared with
5other recent weeks. However, some
business has been done, and the total
sales for the week amounted to some
thing over $4,000, possibly as much as
100000. 8
Being Driven to Suburbs.
High rents and the steep figures for
5Ehome property are having O tendency
i to drive the homeseeker5 and the renter
4 to the suburbs, and suburban property.
(which one agent declares has been
3lisenselessly neglected for the past de-i
4 cale, is now being sought after by in-s
! .vestors and homeseekers alike. It is
i said that within the past two nonths8
investors have secured a number Of at
J, tracttve properties at reasonable rates.
u wh!chSwill be cut up into home places
I and sold, no doubt at handsome profits.
q While as stated above, fairly good;
business has ben done in the matter
4 OF sales, tho agents have been during
1.-the past week giving decidedly more
4 attention to the subjectsof rents Sew
4 eral OF the larger houses have devoted
A practically all ~ their attention to
leasing releasing and signing up con-
tracts with tenants for the year be-5
4 glnning September 1st. In a vast ma
ilJority Of the cases, because Of the
i! scarcity Of houses to rent, tenants are
A remaining where they are. and rerent-,
ling their present quarters. and In many
cases they are signing up at advanced
4 figures. It is predicted that the first
day OF September will see fewer houses
4 OH the rent lists than have been known
I I'm Richmond for many years.
4 Investors on tho Market.
Investors have been much in evi-i
] dence the past week, and their in-
\ auiries have not been confined to any
particular part OF the city, although
! lit must be said that Lee District props
1 erty is receiving q bit more OF the AS-
Itention OF tho men who want to buy.
purely8 as an investment than other
!, parts of the city.
! Gone trouble" says a prominent real
. estate, agent, SIS that the holders OF
property are too promo to put up prices
on the slightest semblance of O boom.
I have had three good sales knocked
into a cooked hat recently by the hold
!, ers advancing the figures before ]
could get the buyers to the figures
y tlrst8named."g Il
MI Henry S. Wallerstein, who Is an
Z Investor. and has all sorts OF faith in
s Richmond realty, has been buying con-
$ siderable property of late. In addition
Ito number OF small dwellings and
t lots OF the cheaper order which no
> has taken In, he has recently made the
following purchases the Belleview
! Flats, at Fifth and Cary Streets, OF
. something like 100000; property ut
t lTwenty-siXth and Main Streets, for
\ $12.2h0; No. $50 West Broad Street, for
y $500; Nos. 400 and 2oa East Broad,
for 100000, and number OF other
tiaS, 0p,y
!, Other Investments.
I NIessrs. Dyer g. Ramsay, real estate
!. agents have sold. among other prop-
: critics. a. dwelling on South Walnut
eEStreet for $4,000: two on West Leigh
L Heights, for $4,000; one on West Cary,
9 for $1,000, and one on West Main. for
y $4,000. With the exception of the first
: named all OF these properties went to
& Investors, who will either resell or
< hold for the rental revenues. s
/ a, j, Chewing Company report that
v Notwithstanding the had weather and
n counter attractions, they Nave recently
4 made some important sales worthy OF
o record, sales amounting To about $780,
900, Among Others the following may
I be mentioned: IL
t Nos, Cos. 6o1, Go9, 6ll North Twenty
4 eighth Street, $4,000; 23a North Twen-
tieth Street $3.50; s27 and 227 a
i North Twentieth Street, $ao50; 6O4
], North First Street $4,000; 25ol East
: fGrace Street. sl,4a5; 1919 East Main
$ Street. $4,000; 1906 West Clay Street,
( $1,000: HOS West Leigh Street. s2.9O0;
: Several lots, Broolsland Park. ssoot
: Leonard Heights. dwelling s1.450;
n 20ls West Grace Street, SG,425; 1907
: West Franklin street,so.0o0: 1895 West
Il Grace Street. $1,000; dwelling Kensing-
ton Avenue. $1,000; Aouse on Robinson
: Street for $4,000. ~
: A majority OF these sales We're made
: to investors. and 1t Will be observed
q that the most Of them We're Of small
homes so much In demand.