The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1909-01-16
Second Week of the New
Year Shows Marked
Activity.
CHEAPER HOUSES
IN GREAT DEMAND
IuVestors, Both Local and Foreign.
Enter Market On Large and
Small Scales.

Tie second week of the new year in
real estate circles has only served 60
sccentuate Jhe fact that Washington
Is experiencing an unprecedented de-
gree Of growth Sales of unimprOved
property are in excess or those made
curing tho corresponding week "a year
ago; activity in building operations is
Tor ahead OF anything OF its kind ever
recorded, and, in a word. the conditions
underlying the market are more con-
sistent, stable and withaL nourishing,
than was ever the case before jim the
history Of the Capital City.
So satisfactory are the present con-
cluons and the future outlook. that in
Nestors are entering the market on both
large and small scales. Residences
ranging from 5000 up and apartment
houses from 5000 up are being built
in various sections of the city. Con
siderable money is coming into Wash
lngton from investors living lu other
states and is being used daily in realty
undertakings OF every nature. The mar
keJ is thoroughly alive with enterprise
and has almost reached the point where
Il may be called q boom
For the most part, investors seem TO
have awakened 10 the fact that Wash
ington is now experiencing growth
which IS dis-inctiyely its own and which
has been reached through such normal
processes that no power could p0ss bly,
check Its furthur development while
Government operations. il is true, have
considerably increased the value of
property, especially ia certain sections,
the line may be easily drawn between
the impetus which this factor has given
the market and that which IL has at
tanned through its own merits. as a re-
suit Of the growth the city has expert
eneed' based entirely upon municipal
and commercial conditions.
New Calculations.
Heretofore, the calculations of real
estate men have, for tho most part.
been based UPON the theory that Wash
ingtOu's population would increase at
the rate OF 1000 persons q year. and.
therefore, counting I'VE persons 10 a
family exactly 1000 new houses would
be required per annum to meet the
growing conditions. This year at the
rate of the building activity, so far
one-third of the required number Of
houses are already go course Of con-
structlon. and only two OF the dfty-
two weeks ia the year have elapsed.
The question being asked on all sides
is "WiN the market be flooded with
TOO many buildings thereby causing a
depreciation in the value OF all proper
typ While 1909 has not progressed far
enough get TO c0ucIuslvely answer the
question the general opinion is that the
market VIII not be flooded and proper
~, IL anything win be worth more
next January than 1T is at the present
time, for the reason that practically
every section ID the city win have been
built up and greatly improved.
Confidence iu the stability of the mar
ket is more Than justified and every
day OF the week has served to make
this plain. In a number OF Instances
houses have been sold before being
completed and cases where houses
nave stood on the market any length
OF TING after being finished constitute
decided exceptions. ina fact, 10 Is not
too much 20 cay that dealers are finding
II almost Impossible TO supply the de
mand for houses ranging iu price be-
tween $500 and $500. and these are
being bought In every part Of Washing
ton, both as homes and for investment
purposes.
$4,000 Houses.
Permits taken 0ut during the week
show that the 5000 house is the one
that is especially .n demand just at
present and. In the majority of cases.
this house is constructed oil brick and
contains six rooms iu addition 10
bath. tn the northwest section. espaci-
ally. has there been considerable ace
Jivity in the building Of residences OF
this type although the activity may