The Washington herald., 1908-03-29

While the real estate market for the
past week has not shown many large
transactions, there has been a steady ac-
tivity in the sale of residences. lots,
apartments, and business properties. The
record Of conveyances shows that this
activity has not been confined 10 any
locality, but has been pretty evenly dis
tributed over the District
Each Of the suburban Subdivisions
has added its quota TO the lots sold,
and in some Of the older ones there is
an occasional transfer of a house and
lot. Probably the selling of property has
been greater in the subdivision tnan
in the mere settled part Of the city
though the announced sales during the
week have included considerable num-
Der OF old residences and apartment
houses that have been occupied for some
time.
Market Has Healthy Tone.
Taken all in all, the market has been
fairly active. and has shown a healthy
tone. The tendency Of property to move
in Washington when it is desired to sell
it for any cause is one OF the striking
features of the business. The belief is
SO firmly implanted in the minds OF
the residents of the city. as well as
their friends elsewhere, that Washington
real estate is a good investment. that
real estate brokers have small difficulty
in finding a purchaser for any piece OF
property at fair price.
The impression among builders is that
along the line of new buildings. In the
northern suburbs many have already
been started, and as many persons are
looking for new homes in the outlying
districts these houses, or many of them.
will be sold before they are finished This
enables the builders to realize quickly
upon the venture, and experienced con-
tractors are preparing TO take advantage
Of these conditions 10 turn an honest
dollar. though there has been a panic.
though building materials are high and
building operations expensive
Proof that Property Is Valuable.
The tendency to take the new houses
off the hands of the contractor before or
Immediately after they are ready for &C.
cupancy is only another proof Of the con-
fidence which the average person feels in
the value of real estate as an investment,
especially In Washington.
All appearances indicate that the ex-
pansion of the city, which has been so
marked within the past few years, IS to
go on. The new enterprises of the city
are calling for more helpers constantly.
Additions are made to the government
service each year. and the work of WIDEN
ing out in business will ultimately lead
to the factory and the mill as the means
Of supplying trade with what it needs.
Further Occupation of Land.
This all means only one thing-the
further occupation of real estate by resi-
dences TO house the increasing popula-
ton, by more Office rooms to carry on
the manifold new forms OF trade and
business which are coming TO the city.
and by land here and there on which 20
set up other establishments similar to
the warehouses already built at Ecking-
ton 10 accommodate larger freight traffic,
and TO the Firth-Sterling steel works,
on the opposite side of the Anacostia
River
SO far as one can foresee. the values OF
real estate must increase as the city
grows and the need becomes more in
sistent for new and larger structures upon
much of the thickly settled part of the
city, and as the circle Of residence widens
and the city's lines move outward into
the outlying portions Of the District
The worth Of real estate as a stable IN
vestment in Washington cannot be
doubted.