The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1908-08-23
Resumption of Actual ActiV-
ity in the Early Fall
Seems Evident.
SEVERAL BIG DEALS
ARE MADE RECENTLY
Distinct Change for the Better in
Demand for Suburban Lots
Is Noticed.

At the close of what is approximately
the third week Of August, the condition
OF the local real estate market is such
as 70 indicate that the early fan Will
bring resumption of actual activity
a decided Improvement has been shown
all along the line recently, and the
week just closed has given unmistakabIe
evidence OF still better thingg TO come.
Although this season or the year, as
the hottest month draws 20 a close,
must bring dullness to the realty field
if ever the market is TO be dull, yet
there has been a. very satisfactory
volume Of business done lately. This
approach to activity was near enough
10 1t, to produce trade that would have
been considered far from duh at any
Otner season. consequently, the dealers
are well pleased with the present situ-I
alton and the outlook.
Big Deals Made
A number of big deals have been re-
ported within the past few days, and
there has been a generous supply or
small ana medium-sized transactions.
Developments assure three new busi-I
ness buildings for the city, one of them
of the "skyscraper'' class. Investment
buying OF residences has again been a
feature. but deals in apartment houses /
have been lacking of late. The proper
ton OF purchases of residences that
have been made for homes has been
larger than usual, but the buying Tor
investment is still predominant
A distinct change for the better is
also 10 be noted in the market for sub
urban lots. There is no boom" on the
way. The dealers are themselves the
first 10 dcprecaJe any attempt 10 cOn-
Etrue a fair amount of business into
boom They are aware. furthermore,
OF the dangerous and often disastrous
uncertainties of such a condition OF
trade. Land is being sold steadily in the
suburbs, however, and building IcuVl-
ties are 10 be noted here and there
through the various sections which have
been selected for subdivision into lots.
One real estate dealer, who has been
selling a considerable amount of land
in Chevy Chase and In the locality on
Fourteenth street. between Columbia
Heights and Decatur street says.
Conditions Sound.
The recent Improvement in the
market for suburban lots is positive
evidence OF the correctness of the posi-
tion / have taken for the past six
months: that the conditions underlying
good real estate were sound; that as q
result of the last panic real estate had
gained ground as never before IN the
confidence Of the public. and that. be-
ing free from the legislative cOmpIica-
tions attending all forms of personal
property, real estate would be the basis
for the next great Investment move
ment throughout the country.
"Our success has been due to the fact
that practically all the property we
that the people of small means are be
ginning 10 understand that, although
they can set perfect protection IA life
insurance, and perfect depository for
savings in the banks, there is absU-
utely no field for conservative invest
ment open 10 them except buildings ana
land
Home Buyers.
Then there are those who buy for a
home. They are a class which DO not
care to purchase property for specu-
lative purposes but for the use they
can put il TO individually. When buy
ing for a home they buy land either for
immediate or for future Improvement |
and their tendency is To purchase large
plots in the suburbs rather than the
smaller city lots This points to tho
eventual establishment OF colonies here
and there through the suburbs. where
now is TO be seen only vacant land
Operators in general who deal in
this class of property, express the opin- |
Ion that larger percentage of cash
buyers is invading the market than at
any previous time, IL being the natural I
condition that the sp-cuIator makes |
as small a payment as possible ON his I
purchase 10 carry it, The home buyers
desires 10 pay on the Indebtedness lust
as fast as he can. The automobile is
In part responsible for this change of /
market conditions, although she scent /
fare is much more the cause What has
heretofore been inaCce ssible property
for home sites, is now considered as
among the most desirable. i'm that an /
the advantages of the country life can
be obtained, with little or none Of tie /
Gnnoyances formerly attendant upon
travel 10 and from the city.
'ihe dealers took coguizGnce of the
changed conditions some time ago. and I
they anticipated The future by making /
large purchases in the various sections /
interviews with some of the largeSr I
operators would show a greater tend /
ency toward new development of sub
urban lots than Of the city 40, PROPOSE /
tons"
Specifically. a review Of the week
includes sales of vacant land. residences /
IN the city proper and in the suburbs /
besides the completion Of plans for /
the erection or the three new business
buildings There were also several in !
stances Of new buildings activities. such /
as the starting Of work on The erection /
e.
the work of building rows of houses.
or blocks or apartments. is nearing
completion, and even in theiI uucom- !
pleted state the sign rented" OF sold
IS to be seen freely displayed on the
buildings. Then, too, the Government
Is continuing its moves toward ac-
curing land for new department butIu- /
ings- During the previous week, an aD-
pTaiser was appointed To report TO the /
Treasury Department on the value OF /
land on Fourteenth street, near the /
Mall, for an addition TO the Bureau OF 4
Engraving, and steps We're taken to .
institute condemnation proceedings to /!
nix the value of the land ia the five [
squares bounded by Pennsylvania av- !
enue, Fourteenth street, the Mall and /
Fifteenth street
Condemnation Proceedings.
It is expected that tomorrow the
United States District Court viii issue !
a citation TO owners of still other prop /
erty 70 appear before the court at a /
specified date. probably in the latter
part or September, and show cause why
condemnation proceedings should not
be instituted for the fixing of the value
OF their land. This Includes all of /
squares &C. and 80. which are included /
in the general plan for the beautinca-
ton Of the south side of the Mall. be-
tween Tweuty-firsJ and Twentv-tbird
streets. II is the first section south of
Pennsylvania avenue, which Congress
directed should be acG.ired by the Gov
erEmeEt. II VIII be the site of two new