The Washington times., 1911-04-08
APRIL HAS STARTED
ENCOURAG|NGL FOR
REAL ESTATE MEN
Rain Prevents Closing of
Many Deals, But Aver
age Improves.
MORE TRANSACTIONS
THAN A YEAR AGO
Marked Decrease Noticeable in the
Money Market, With Interest
Rate Down.

The month OF April opened encourag-
tngly for the realty brokers and rec
ord-breaking week was prevented only
by the inclement weather conditions.
Jupiter Pluvius is the sworn enemy of
the broker both in the matter of selling
property and in the closing of transac-
tiops. The rain prevents prospective
purchasers from visiting the land to be
sold, and especially is this noticeable in
the spring, when a large percentage of
the sales are made in suburban proper
ties. When It comes to closing the
transactions, postponements are fire.
quently asked until the weather is fair.
April l saw thirty-one transactions
closed and in April 4 deeds passed be-
tween seller and purchaser in thirty
nine sales, the record for that day be-
ing only two short of the new daily
record established March 81. There
were three mediocre days, however, dur
total of transactions for the six days
TO l65. The number of lots involved III
these sales aggregate 266.
Outside City Limits.
Two-thirds of the sales were outside
the city limits. OF these ninety-nine
were in the outlying county tracts and
Beventy-seven in the near-urban dis
trict.
Within the city proper, the northwest
ern section led in the number of sales,
with total of thirty-six lots trans
ferred. There were twenty-eight lots
conveyed in the northeast, twenty-one
IN the southeast and five in the south
west.
While the volume of activity as shown
Ey the above figures falls little short
OF the results attained by the brokers
during the previous week, the most ac-
tive IN last month, a comparison with
the corresponding period of 1910. favors
last week
From a review of the number OF
papers filed with the Recorder of Deeds
this week and the number filed in the
first week of April, 1910 total of 54i
papers this week is found against SIS
in 1910. This indicates an increase of
more than per cent this week despite
the rainy weather.
A marked decrease in the money
market is noticeable this week, the rec
ord for the entire week falling short
of the volume of loans made in one day
during the previous week. March 81 had
an aggregate of $S00000 in loans to its
credit. while the total for the past week
is only s59l. .957.49. The sum was borrow
ed on the security of 263 lots.
Interest Rate Drops.
The interest rate, however, dropped
not reached since the last week of Feb
luary. The prevailing rate of interest
during the first quarter of 1911 has beer
6'5 per cent, although on one Or two oc-
casionS the rate has been as high as
So per cent. The fall this week would
appear to indicate a disposition toward
an easier money market
The bulk of the loans this week was
made to borrowers who desired either
TO improve land already owned bv them
or to pay off prior encumbrances. The
total of loans of this character was
$50, O96.95. The sum of all the notes
given for deferred payments on real es-
tate purchased this week is SlS5, ,66O5i
The building associations advanced
So, 200
County owners were the heaviest bor-
rowers this week, the loans made on
the security of suburban property
amounting to $32S3S3.90. In the north
west there was borrowed an aggregate
of $l65, 80. The record of loans for
the other sections shows: Northeast,
SGS,75O; southwest, s1653O; southeast,
ST., 800