The Washington times., 1909-04-17
Real Estate Transactions
Occupy Attention of the
Whole Country.
WASHINGTON RANKS
ABOVE NEW YORK
Market Is Particularly Active, and
Capital City Property Is
In Demand.
BY J. L. MARTIN.

Washington has become a clearing
a.y for Southern investments.
This, briefly, tells the story Of the
growth, stability, and functions of the
local real estate market.
Real estate just now constitutes about
the brightest spot In the enormous fnan-
cisI interests of the National Capital
1t Is proving a more definite factor for
computing values by which financial
transactions are gagged than any other
commercial entity.
But 1t does not stop here. II has
reached that point where. with the new
appreciation which exists Of the con-
ditions underlying it--conditions that
make absolutely for stability OF value
and which are unaffected by outside
financial pressure-it may expand to an
unprecedented degree.
since the panic which broke over the
country in the latter part OF 1907, when
Wsshington's real estate market was less
affected than that OF any other Ameri-
can city. the attention of the outside
world has been attracted 10 the Ma
tional Capital as affording an absolutely
safe field for realty investments Of every
class. This attention has been supple
msnted In many instances by the en-
pioyment Of large sums of money in
speculative ventures. both in real estate
and with real estate as security for
loans.
Money Is Secure
In either case the principal OF the in
vestment has invariably been secured.
Where money has been placed in land.
itself, the property. with practically no
exceptions. has recorded a steady ad-
vance In value. while I'm those cases in
which IT has been loaned on land there
has been no trouble In disposing of
property at its full value. when il be-
came necessary TO indemnify the pripci-
pal.
In wore, land has been the most
saleable thing In the District. has mani
tested the least tendency 20 fuctuate In
value. and has been the means Of az
fording the quickest. safest. and most
remunerstive investments.
Since January ! the number and ex-
tent Of the various real estate trans
actions made have indicated beyond a
doubt. that the present year will be
one Of the most unusual in the real
estate history of Washington Since
inauguration. when the city was seen
Lnder the most disadvantageous coudl-
tions. transactions have indicated that
capital from every part Of the country
viii be represented in the unusual
period Of expansion which the city IS
now but entering upon.
Western Money Coming.
Already considerably more than =
half million dollars has found its way
into the Capitals real estate since in
suguration. The majority Of this
money has come from the West. while
a great deal OF Il has been invested bv
Eastern and Southern capitalists. In
duirles with respect TO practically every
section Of the District concerning realty
values and other features in connection
with land Improvement are stilI being
received on a large scale from inaugu-
fal visitors In not a few cases CAPT
tai Is being sent IN 10 be invested in
property which the purchaser has
never personally inspected
SO pronounced has WashingtOn's
come that property located anywhere
IN the District is now taken I'm prefer
ence 70 New York property as security
Tor loans. Several big loans made re-
Gently have demonstrated this fact be-
yond doubt. and so much money has
been available. with local real estate
as security, that the prevailing rate Of
interest has been materially lowered.
Not only this, but inTerest rates on
deeds OF trust have recorded a cores
ponding reduction. the average rate
being 8 per cent.
Leading New York.
The lead which Washington has taken
over New York IN point OF the security