Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-02-27
TRANSACTIONS OF INTEREST
IN LOCAL FIELD OF REALTY
Inside Property in c. Street Sells for Price Under
stood to Be $50 Square Foot Supply of
Certain Class of Houses Meets Demand

\ high rectord for inside real estate on
G street was made this week in the pur-
chase of the property 1iOi G. street north
west. The exact consideration in the
transaction has not been announced, but
II is stated the price agreed to be paid
approXimates $40 per square foot. This
Is the figure that was given recently for
a corner property on the same thorough
fare one block to the east, and the latter
marked the top of the market up to date.
The property just sold has a frontage of
$50 feet by depth of 10 feet and con-
tains @,SS1 square feet
1t adjons on the west the property at
the southwest corner of 18th and q
streets. which, in connection with the two
ADJOINING lots on 18th street, were re-
Gently sold to one purchaser. The price
paid for the corner, the dimensions of
which are 61.I feet on q street and 40
feet on 18th street and the total area
46iS square feet, was $50 per square
foot The latter figure is without dues-
lion, for it appears in the order signed
by the court authorizing the sale.
Opinions as to the Price.
Inc influence OF such transaction un-|
doubtediy made itself felt in the one for
the property around the corner, as it is
said that some time ago it was freely Of
fcred for $4,000. which is about 500 per
square foot. In fact some WHO are
familiar with current matters in the
realty market are under the impression
that the latter figure about represents
what was agreed to be paid, bur, of
course, it is not known definitely, as the
exact consideration was not given.
In this connection it is interesting to
note that the last transaction on the block
in which the land was practically the
only consideration of value was in Janu-
airy two years ago. when the property adj
joining 140S G street changed hands. Tine
lot is % feet front by la feet. and the
price paid was S22 per square foot.
Market for Houses.
Men who make it their business to sup
ply the demand for houses, as well as
brokers who handle such property have
become aware that the market for the
sale of houses ranging in price from
$500 to $1,000 is more limited than ii
was a short time ago. In fact. the opin-
ION is heard that there is now practically
no sale for houses within the range, men
TONED 1t is quite evident that the supply
OF such dwellings has come up to the de
mand, and for the present "a least has to
some extent exceeded it.
This phase of the market has only re-
Gently been noted, as up to this time it
has been found that most everything in
IL
II must be said that much activity as
we'll as enterprise has been shown in
meeting the wants of the public in this
particular. and largely in consequence
building in this city kept right on during
the period of financial depression
II this view of the market is correct,
then IL Will no doubt be concluded that
for the present at least that kind of house
building has been overdone. There is no
evidence that the demand for houses that
sell on a lower scale than 81 800 has fallen
below the supply, and also it is said there
IS good market for dwellings of the
larger class.
In other words, according to this out
look. the top and the bottom of the mar
ket for houses is still lacking in a proper
supply while the intervening class is for
the time being at least, sufficiently sup
piled.
Showing City's Growth.
Some suggestion OF the way the city is
growing Is to be found in the record of
the disposition of an estate hike that of
homas r.. WaggaInan- The property is
in the hands of trustees and when "A pur
chaser buys a lot within the holdings a N
agreement of sale is made with the trus
Zee and when that has been approved by
the court a good title can be given
principal portion of the holdings com
prises the property known as Woodley
Park on the north side of Rock creek be-
yond the new bridge which spans that
stream. As is we'll known that locality
has I'm recent months become the center
OF a great deal of building activity. The
city has plunged forward in that direc-
ton. was foreseen by the late Mr.
'Waggaman would happen, but. of course.
he could not fix on the precise date when
the movement would begin.
What is going on there is precisely VIVA
he anticipated would take place, but the
difficulty with him was that he saw too
far in the future, and the development
did not start soon as he had antici- |
pated.
Chances to Make Money.
There are many such instances in the |
history OF the growth of this city. as is |
the' case with most every city in the |
country II is also the belief that move |
ments OF this sort not over and that |
there are still opportunities as golden as |
those presented heretofore. I'm this coun-
Try the optinist has always had the best |
nf IL in the long run. and so it happens /
tha those who are Sanguine about the !
future of this country. its material de-
velopment and its progress not only in !