The Washington times., 1908-09-13
FEW TRANSACTIONS
IN REALTY MARKET
Dealings During Week
Fewer Than for Months
Past.
REGARD SITUATION
AS SATISFACTORY
Real Estate Men Say That a Num-
Der of Big Deals
Are On.

Dealings in the realty field were rath-
er quiet during the past week The six
day period was. in fact more lacking in
actual transactions than had been the
case during the preceding summer
months. The realty situation Is. never
theless. regarded by dealers as satisfac-
tory, and the suspension of activities is
regarded as being only temporary.
There were a number Of transactions
concluded during the week, so that the
dullness was comparative rather than
actual. The week before was quite an
active one. showing distinct signs of
early fall activity. What has actually
occurred during the past few days.
viewing the realty field in its entirity. is
that negotiations were made. but not
concluded for a considerable number OF
large deals. The details Of these Will
be made public within a short time
Investment Buying.
One Of the features Of recent deals ~
the real estate field has been the pur-
chasing of properties for investment
purposes. Buyers have been openly
stating that they were confident that
values would increase. one prominent
local operator expressed the situation in
Growth and development of a great
city present many excellent oppOrtunI-
ties for the legitimate purchasing or
reselling ar profit when the antici-
pated opportunity arrives.
This method Of purchasing may not
be termed Investing, in the strict sense
of the word. but IL nevertheless requires
knowledge Of the prevailing situation,
constant application, and the exercise OF
Keen foresight and vigilance, together
with willingness and ability to alter,
rebuild, or otherwise improve the pur-
chass.
Real Estate Gambling.
This should be the accepted under
standing Of the term speculation as
applied to real estate, and should not be
confused with that Opprlbrious and
harmful expression. real estate gam
bling Between two speculative opera
tors there is the same difference as
may be said to exist between the char
acter and standing Of legitimate bank
er and a modern stock gambling finan-
cier.
The era Of rife speculation which
terminated in 1905 was responsible for
the entry into realty and building cir
cles OF a number of these sO-called
spectators. who entered into con-
tracts to purchase any reasonably cheap
properties offered, but only in event
that they could obtain contracts Of sale
upon the payment Of merely nominal
deposits, with the privilege Of a term
of from sixty days TO six months before
they would be obliged to take title or
forfeit their deposit.
MANY oId-time owners. who had
bought leRitimately at a time when land
was comparatively cheap. in their de-
sire TO take advantage OF the arrival
Of the opportunity they had foreseen,
upon which expectation they had based
their purchase, readily consented TO
such contracts; and this feature Of the
market was largely responsible for the
crop of speculative talent that sprang
Up over night, brilliant examples Of
the element the realty market that
tried 20 place IL on par with a boom
town instead of recognizing the sturdy
reliability that has long characterized
the real value Of local properties It Is
only necessary to view these standard
investments with a cold, dispassionate
demand for bare facts and statistics.
Contract Selling.
There was a time when the long
term contracts Of purchase were prac-
tically but options, and although the
fever Of the period entered into and
confiscated the brains OF many buyers,
and resulted in quick profit for some,
It was merely contract selling after all.
Many Of these contracts represented
nothing definite in the minds Of the
buyers, excepting, perhaps, the specu-
lative determination to make a profit,
if possible. or, failing to carry the
deal through, to forfeit the contract
and return the deposit, or procure the
least possible necessary amount to OBJ
tain title and become a real owner
If many contracts then made have
since been forfeited, or have been fore
closed, sucn failures should not be al
lowed TO influence The matured iudg-
ment OF any legitimate real estate op-
orator or investor VINO makes it a rule
10 purchase on the basis Of known facts
and relative values
knowledge OF the fact that the
gambling element has been weeded out
is one of the great blessings of the
year 1908. 1t sufficiently offsets many
OF the trials and tribulations of the
year. and surrounds the pervading dull
ness of the moment with an entirely
healthful and strengthening atmos-
phere."