Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-03-22

am satisfied that the very care in plac-
ing money in loans only upon firSt-claSS
security is not only better for the bust
ness interests, but better for the men,
who. If money was comparatively easy.
might be inspired to borrow to the limit
in financing building operations ana thus
incur obligations which could not be met
in event of a temporary lull in the sales
of their holdings. One of the surest tests
of the value of this principle occurred IN
the recent financial furry. when Wash
ington came out practically unscathed
and almost without realization that a
season Of trouble obtained in other parts
of the country.
Business Better Than Ever Before.
A member of another local real estate
firm said he found business this year bet
ter than ever before.
I'VE have fully 1,5OO properties for sale
on our books. as compared with about
900 last year" he stated. land the num-
Der of transfers contaminated Is cor
respondingly greater. 1t is true that
hundreds of people are waiting to buiid
homes. having in many cases secured the
sites for these residences, but they are
prevented from going ahead because the
money to finance the actual construction
is not availab bic. l think this is good
thing because unlimited borrowing for
home building would be very likely to
produce a glut in the real estate market
when established values would crlmble. to
the detriment not only of the men and
women who own their own residences, out
to the whole city.
The same dealer also spoke of the
marked decrease in the number of new
apartment houses either in course of con-
struction or planned for the future, and
he said that this was due to the reluc-
lance of the moneyed interests to make
advances for such structures unless the
value of the prospective investment was
proved beyond doubt.
"At the present time you will not see
flats springing up like mushrooms simply
because some persons have large pieces
of land out in the county for which there
seems to be no other market he added,
land consequently when one sees new
apartment building projected it IS obvious
almost at a glance that the location is
good and that the investment will be a
paying one"
Transfers of Real Estate.
The number of transfers of real estate
for the first half of March this year shows
a falling off of barely 61a per cent from
the number of transfers recorded during
the same period of 1907. These transfers
mostly represent sales made during the
month of February, and as 1t will be re-
called that February of this year repre-
scented the greater part of the really bad
winter weather in Washington, and also
that the business of February. 1907, was
considered well above the average, this
is regarded as a very encouraging show
ing. There has been very little mortgag-
ing of property for the purpose of raising
funds. the greater number of trusts re-
corded on real estate representing. as Is
generally the case, the unpaid portions OF
the price for property purchased.
There has been thus far this year, anC
is apt to be during the remainder of the
year. somewhat less speculative building
in Washington than in 1867" said another
large operator. The falling off, how
ever does not promise to be great and
| think the year will compare very favor
ably with any of the last five. all OF
which were regarded as exceptionally
good in the building line. AT least one
very prominent builder Will equal. if moi
exceed. his output for 1907. Builders re-
port more favorable conditions for this
troubles, less delay in the receipt of ma
terials and the opportunity for obtain
ing. IN some respects. a better grade Of
lumber for building.
A good Indication of the business stu
alton is in the number of applications 70,
property received by those considering in
vesting in realty. Our books show about
| the same number so far in 1908 as were
/ recorded for an equal period in 1907
| Deeds Placed on Record
| The books of the recorder of deeds. in