The Washington times., 1908-08-02
July Closes With Largest
Number of Transactions
in Recent Years.
TO SPEND MILLIONS
IMPROVING SUBURBS
Conservative Growth in District
Land Values Inspires Persons
About to Invest.

A material Improvement was shown
I'm the real estate market during the
past week Transactions were Of an
/ Unexpectedly large number for the
closing Of one of the hottest Julys in
a score Of years.
The cooler weather Of the last few
days was, IN part, the cause OF the
satisfactory activity, but viewing the
market as a whole, the dealers say it
/ is showing the effect OF a growing de-
mand and wider spreading interest ana
| appreciation In the realty field IN the
| District OF Columbia
In augmenting the causes which justi-
! fy this general appreciation OF real
estate in and around this city. the Dis
trict Government has again taken the
| lead by using its influence in recon-
mending an Improvement OF the entire
/ river front
II those and other plans now under
consideration are ultimately carried out.
the object desired viii be attained, and
this viii become one Of the most beauti-
ful capital cities IN the world. The
movement toward that end, as IL be-
comes mole and more understood, is
having an increasing effect in enhancing
the real estate situation here.
Has Spent Millions.
Hundreds OF millions have been spent
b. the Federal Government in inprov-
ing me city and in rearing magnincent
I buildings for the use Of its officers.
This, OF course. is well known. But
TIE aggregate Of the millions which
have been spent by individuals On their
private residences or their investment
buildings can hardly be estimated
! Many more millions are TO be spent In
the city proper. and il viii not be Iouz
before the sums spent in improving
the suburbs will themselves reach into
the hundreds OF millions. The newt
able result is the appreciation Of real
estate values. and investors in other
cities besides Washington are preparinF
to profit by IT, such is the trend OF
events, and the sudden Improvement
at the close Of a summer month is one
Of the signs OF he times.
The District Commissioners deciara
rat if the population Of the District
or COlumG.a continues 10 increase as II
has In the past IL will exceed a million
people in hundred years. This means
/. that even the present generation VII
see a city much greater than II Is now
aid their children may be among the
million With the limits OF the District
restricted permanently. the values of
such land as is within the borders can
hardly be as low again as they are now.
AS business proposition. the fact
seems inconurovertible
No Bubble Boom "
During all the years that real estate
hss been mounting the rungs of the
price ladder. and during the time that
me Government ana private individuals
have been improving and beautifying
the city, there has been no bubble
boom TO cheaper the standing of
the Washington realty deld. There has
been. instead, a sound. healthy, con
sentative. growth. both OF the volume
of business and the values Of the real
ry commodity concerned. This phase
Of the situation is what has inspired
investors Of other cities with confidence
IN Washington real estate. and now
that q fresh impetus has been given by |
the plans to improve the river front ana
increase the city's Importance as Il |
commercial port, the desire 10 own a |
part of the District where these things |
are taking place is having a concrete |
effect, as shown in the summer deal
ings.
All this does not mean that the vol |
ume of business during the past weak
was anything phenomenal. IN fact.
compared with some Of the best weeks /
of the winter and early spring the trad |
ng could hardly be called even active. /
is distinction lies In a comparison with
the amount Of business done during the |
corresponding period of previous sum- /
mers one local dealer reports that a /
Philadelphia capitalist. for instance, |
who had gone TO Atlantic City to enjoy |
a well-earned vacation, FASTENED to 1
Washington on being informed of q Ger
tain real estate opportunity here by the /
dealer in question.
Make Offer for Property.
The capitalist made an offer of q large
sum for the properties, and If this is
accepted a large deal v4iiI be announced
ia few days. involving one estate on
+ street and another on Seventh north
west The point is that this inventor
had for some time been DESTROYS OF put
ting a substantial sum into Washing
ton real estate, although his horne city
/ Fifteen Delightful 81