The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-07-24
REAL ESTATE AND
BUILDING NEWS
Valuable Business Prop
erty Changes Hands;
Particulars Lacking
DEMAND FOR CASH
BY HOME-MAKERS
High Rents Driving People to
Borrow Money to Build Homes.
Much Inquiry for Garden
ing and Small Farm Prop
erty - Building Opera
tions Decidedly Active.

activity in real estate for rnidsum-
mer season. However. the activity
was about in spots. some of the
summer dullness. However, all OF
them are busy enough. but all Of
them are not busy selling dirt. The
rental agents, or. at least, such OF
them as have not yet closed out their
entire lists, are doing considerable
lustling with the home renters. and
those who have money to lend for
home and house building purposes
have been exceedingly busy the past
week. One prominent realty dealer
and money lender says he never knew
such active demand for money to
build houses.
Cheaper Thnn Rent.
Any number of people. who have
saved up enough cash TO start with,
have reached the conclusion that in
view of high rents 1t is cheaper to
borrow money and build than 1t is to
live in leased home. SO great is
that slight scarcity OF funds for
such purpose is noticeable. This.
however. is largely due to the fact
that many OF the Richmond capital
fists and money lenders are away TAX
ing their summer vacations. and the
cash left in the hands of real estate
agents 10 be put out on realty securi-
ty has been drawn on more rapidly
than the supply has come in. The
trouble OF this kind viii all be over
soon
Hish-Priced Property Sold.
The transactions In the selling line
for the past week We're not as nu-
nlerous as they have been during
some recent weeks, but several large
transactions In business property ran
the figures up TO an amount IN eN-
cess OF some OF those recorded in very
recent past weeks. Some OF these
large deals have been on the string
for quite while. and have already
been reported.
The agents are, as usual, rather re-
ticent, but estimates in dollars and
cents place the figures for the week
at fully 100000 Pollard & Bagby
report sales OF over 100000 mostly
of business property, and they We're
mainly deals that have long been on
the string, but they decline to give
out the particulars for publication.
j. Thompson Brown G. Co. report
small sales, small for them. running
not over $4,000. consisting OF rest
dence property IN the main.
Amos & Poindexter found some
thing to do in the Battle Abbey sec
tion and along Hanover Street. A
deal involving more than dozen lots
near the Battle Abbey was yesterday
on the eve Of being closed UP, but Is
not recorded in the above totals, be-
cause the finishing touches have not
this interesting deal will tumble or
the string during this week.
Factory Property Changes Hands.
Perhaps the most interesting re-
portable sale OF the week Just closed
was made by John w. Bates & Co.
They sold the factory on Twenty-first
Street which has so long been used by
the Sauer Flavoring Extract Company.
The buyers were the Duplex Envelope
Company, Of this city. who will move
their big envelope making plant
there as soon as the c. F. sauer Com
pany completes their new extract fac
tory and moves In. The price was
$4,000 Bates & Co. also made some
other large-siZed sales, but, In the
language of the seller. they are as
yet "nonreportable.
William Purcell, Jr., Company re-
port the sale OF six vacant lots on
several streets in the West End.
which totalled s1O925. Many other
agents report small sales in various
parts of the city, and nearly all of
them had a hand In running the total
FOR the week up to the 100000
Another big transaction which was
veally closed before last week was
the purchase of 12o front feet OF
ground on East Franklin Street. ad-
1oinius the old Ballard House. by J.
T. Nuckols the well known contrac-
tor and builder.
Theafour houses on this property are
being torn down to make room for a
rour-s -sthry warehouse and store. which
Is to he occupied by January l next
by the Miles Shoe Company, who have
already \leased it for term OF years.
This mammoth building will contain
$4,000 square feet of floor room. and
will he made frst-class, up.to-date
WHOLESALER shoe house. being bu1lt es-
pecIally fpr that business.
seel<irke Smnll-Sized "Farms.'
From alH quarters come reports OF
very activA, even urgent, inquiry for
large lots. \ even acreage, IN the far
suburbs than are convenient to trolley
lines and steam railways. Numbers OF
salaried men in the city VINO nave
saved up some money are seeking
such lands ihl from two to ten-acre
plots. upon (which they propose to
build homes f,tr their families and have
enough grounSl left to raise Yege-
tables, small \trults and fowls, and
maybe keep \cow. Business men or
all kinds are catching the small farm
mania. These sAlaried men and work
Ing men have also caught the fever.
but because of THE scarcity and un-
reliability of fars1 labor they propose
to undertake only sucn acreage as
they can till thei\nselves In the early
morning hours BEFORE business and In
tho long AFTERNOONS after they have
left off store, ofhNei or factory work
This GLASS of hom.ts within from four
to ton miles alonE the trolley lines
and railways are bEnoming exceeding
ly popular,
Many OF the aNsnts who handle
h. Continued on Last Page.)