Evening star., 1909-08-21
OGp 5ToRAeENhRErousE AT 1OTHAr1DE f S9REETsNN

great proportion of these new structures
should be. added to the purchasable and
rentable property on the lists of the real
estate men.
In scores of cases residence and apart
ment house property; completed and
placed on the market early in the
summer has been sold almost be-
was dry. Tenants have moved into
the lower floors of apartment houses Wnen
the workmen were still busily engaged In
putting the finishing touches to the up
per stories and frequent instances could
be cited in almost any real estate office
in the city where houses have either
been rented or sold and apartments have
been rented on the strength of the loca-
ton and the showing made possible oy
the builders plans alone All of these
existing conditions serve to indicate that
the boom in Washington is scarcely more
than started, and there seems every rea-
son for the realty operators to reflect
optimism.
Attention has been called in The Star
before to the largely increasing number
OF papers recorded in the office of the re-
eorder of deeds. Deputy Recorder Dutton
is responsible for the statement that in
the period of six months from January to
June 30 last there was daily average
of more than twenty -deeds more placed
upon record than have been put on record
in the past during a similar period. Tues
papers placed on record. 1t has been
observed that there are few individual
loans on real estate placed on record. rms
would indicate that the average owner OF
Washington real estate is not borrowing
money upon his home, but on the con-
trary is paying off his loan. If this
means anything, it is an evidence OF the
remarkably healthy state of the realty
market and the financial condition OF
the city. A much larger proportion OF
loans for new buildings. apartments and
houses have been made during the last
six months than during any previous six
months.
Discussion by Brokers.
Various aspects of the situation have
been discussed by the brokers during the
current week, Rignald w. Beali. vice
president of the Moore & Hill real estate
corporation. said yesterday that many
indications point to one of the most sue
cessful eras in the history of the real
estate business in Washington.
There is a constant desire by wealthy
men all over the country to spend por-
ton of each year in the National Capital,
he continued. land there are also many
influential people in other parts of the
country who are being attracted to the
local realty market because of the safety
of the investments. Only a few days ago
We had a proposition from an apparently
reliable agent I'm the west to represent US
in presenting general Washington real
estate investment proposition to western
men of means. This man claimed that
there was a pronounced desire among
many men of his acquaintance to have or
own home in the National Capital, where
they could spend a portion of each year.
Another class Of large investors have
recently come on the market and have
purchased large tracts of acreage ground,
having In view the plan or developing
and selling IL In lots to Washington peo-
pie Inquiries for such property are made
almost daily by outside brokers' among
whom the Washington acreage property
is held in high esteem. Among the recent
purchases by outside people of acreage
property can be mentioned the Fox Hall
tract of about sixty acres, near the
Georgetown University, by Representa-
tive Hayes of California: a tract of
ground by the Potomac Realty Company.
made up of a company of capitalists from
Spencer, n. c.; the purchase by a Lynch
burg syndicate of the Winslow property,
of nearly 100 acres. adjoining the Saul
tract on 14th street extended, and the
Kohn tract adjoining, besides several
large tracts opposite the Louis P. Shoe
maker home On Georgia avenue extended.
Also the large purchases by several Penn
syivania syndicates OF nearly 500 acres
northeast OF Brfghtwood; the South Bos-
ton Realty Company and the Richmond
Park Company, owned by southern capi-
talists, and fhe Kengla estate The COM
bined valuation Of all of these properties
.approximates $5.O00.000 so it Is obvious
that outside investors have not confined
their operations to mere Inquiries.
I'VE believe that more than one-half of
the total amount of Washington business
and apartment property is owned by out
investments in Washington real estate.