The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1909-07-31
That Locality Now ConSid-
cred Mecca for the
Investor.
VALUE OF PROPERTY :!
IN STEADY INCREASE
Much Building Activity Follows
Completion Of New Union
Station.

The history of the northeast section
of Washington, perhaps more than that
Of any other. points 10 enc conclusion
that the present is the best time that
has ever existed for the making Of real
estate investments in that locality.
Therefore, TO know tile why and
wherefore of this conclusion one must
learn something of the aistory of the
section; and he does not have TO 80
back far to stumble upon some pertinent
facts, for history has been making fast
here the past few years.
To begin at general starting POINT,
which may be substantiated by data,
this statement may be made by way
of answering why ,he present is a
logical time for investing IN northeast
real estate:
First, available ground in the north
west. is becoming scErce. This promises
to turn the direction of growth north
east, as it is the next most desirable
residential section in the District. Sec
ond, the almost assured growth of the
northeast as a commercial center viii
produce a corresponding demand fer
residences there which never existed
before.
Third. the first signs of the new de
mand for northeast property, which.
eventually, promises to exceed that IN
the northwest, are now being manifest
ed, so that the investor who gets in on
the ground floor will not have to wait
the length of time it usually takes TO
bring about a boom IN an already
healthy and rapidly-growing neighbor-
hood.
Some Pertinent Facts.
Now for a few facts to make these
points apparent
The northeast section was, at one
time, considerably in the eyes of the
world This was before the Chicago
Worlds Fair, which came near being
held in Washington-and in northeast
Washington, at that-bef0re a decision
was finally reached to hold it in Chi
caso.
Naturally, property located in that
section being so much in the public
eye,grew very much higher in price. The
worlds fair possibility failed, and then
prices dropped. Buyers who came in
on the boom were hUrt-that is, tenn
porarily-and the section got a black
eye from which il is just now recOv-
ering.
The trouble was made worse by the
panic of 1893, SO that prices went back
entirely to the old basis of value, and,
IN many instances, much lower.
Present conditions are now rapidly
forming the sequel 20 this situation
which promises to be something on this
order,
That the owners who have continued
to hold the land despite its fall in value
will yet have the opportunity of selling
it at the prices they originally paid for
it. and in all probability. for much
more. These owners will recOup THEN
I investments, md spectators. who got
in on the land WHEN it became cheap
/ will make big profits
Builders interested.
No better indication Of the fact that
/ the tide is setting in toward the north
east can be found than that many OF
the largest builders, whose operations
/ heretofore, have been centered almost
entirely In the northwest, are now doing
/ a considerable amount of building in tbs
northeast The extent of building must
always reflect the demand for building
and, likewise, the direction Of growu
must be the direction that is the choice
/ Of the people.
At present that choice is unmistak
ably for high ground. Il has resulted
in the development Of the nOrthWes
/ section on a gigantic scale, and, soone
I or later. il must result in the develop
ment Of the northeast on a simila
4 basis
/ Already there is practically no va
! cant ground TO be had and subdiVide'
/ for building purposes along FOurteenti
/ street northwest. The same condition
! now prevailing on Fourteenth stree
/ win eventually prevail to a more O.
! less extent on the other streets I'm tina
/ section So, that with the gradual di
/ minishinE of available property here
/ people must return 20 TIE nOrtheas
/ for nigh grOuud-the only direction II
| which they may turn 10 find It.
Record of Sales Big.
That they are going already is evi
| denced by the record Of sales of on
firm during the past three weeks. Thi
concern put on the market a sub
/ division known as Groves Park, IOcate'
Al Fifteenth street and Rhode Island
/ Although the lots have been on sal
Tor less than a month, los Of them hav