The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-05-28
REAL ESTATE AND
!. BUILDING NE WIS.
Westham Bought in a
Lump by New Syn A
dictate. (.
BUsINE IS DULL, BUT.
som % SIG SA ES
Hot Weather and Near Approach
of Rental Season Make the
Agents a Little Slow-West
Broad Street Property XII.
Still in the Lime
light.

light.
somebody is going to kick when the
real estate facts for the week Just
ehued are trnthfully told. and they al
ways are but then some folks would
Kick even II by queer accident they
should get ushered into heaven. How 4
ever, the general factis that with the
exception or two or three unusual and
unexpected large deals the real estate;
business for the past week was rather
dull; dull SO far as actual sales were
cohcerned. lively enough, perhaps, so
iar as inquiry and threatenlnes that
hetoken coming good things were con-
cerned The people who delight to
hanG big things on the string with the
nope of pulling them off later, with a
DIE commission account attached did
lot OF such hanging during the week,
and not less than a dozen of these op-5
timists winked their other eye at the
man OF news when approached, and
said IN effect: You Just wait week
and will likely tell you something
startling" But all the same, with the
exceptions al ove limited at. the actual
sales for the week were mighty small
weeks. ~ lfs
The Wherefore of 1t. G
Just what the lull is due to no one
can exactly tell. One agent with whom
talked said the time is SO near at
hand when the renters will be giving
and taking notice that the agents, all
OF whom have rental accounts, are
quite willing To wait a bit and hear.
more from the rental end of the real
estate bushes before they busy them
selves much about sales and rumors of
sales. Another thinks the prcmatur
hot weather has had much to do with
business. and headed off some big sales
that might otherwise have been made.
Still another thinks the real investors
want to give the spectators ali the
rope they require. for hanging pur-
poses. perhaps, and then they (the sure
enough lnvestors) Will come into tho
market In great shape and maybe
laugh al the hanging performance. But
then 1t may be that the laugh will be
with the SPECTATORS. Hli4l
Wcsthnm Doinss. *
The biggest transaction of the week;
In some respects the biggest OF the
year and. as for that matter, possibly
the biggest of a decade. was the sale
of all of the beautiful Westhnm prop
erty, that spl.Sdid suburban property
out there where the Richmond College
is to be built. The big deal was en-
Eineered by that enterprising young
was straight and square sale with
out any swapping or trading trim
mings. Through Colsan & Nash tho
Westham Company. OF which \. L.
MacClelland Is president sold all OF
their 40 acre holdings in beautiful
Westham to William and Edward
Schmidt and their associates. and tile
sum involved was something over
sl5o,ooo, The westham Company, UNI
der the guidance OF MIR. MacClelland,
had already spent whole lot of
money identifying and improving the
property, but 1t Is said that 1t not a.
patching in the way OF beautifyinG
and improving to what the new own
ers will do. The new owners expect
to make many changes in the plans.
and In the way of the subdivision OF
the property. their idea being to arr
range for the sale of half-acre UP to
three-acrc lots and plots to folks who
want to locate In Westham. They
intend TO spend good deal OF money
In beautifying the grounds. planting
trees, making hedges and otherwise
creating suburban beauty that will
he lasting and always attractive. The
property In Its subdivided and inn
proved condition will go at once on
the market. and Il is understood that
Golsan 4 Nash Will have charge of 1t.
Already II is an assured fact that a
trolley car line will be run right
through the centre OF the Westhan
property
Something Doing in Town.
The activity in the city was. SIS
already limited. largely confined to
things that are to be. rather than to
things that have happened. Nevcrthe-
less, there was something doing. and
the sales here. there and everywhere
throughout the city, according to the
best obtainable data amounted Ito
something like $780, 900
While sales of greater or smaller
amount We're made In all parts OF tho
city, the main activity was on Broad
street. and there was some activity
there and no mistake speculative ac-H
tivlty and all OF the other Kind. 1t Is
said that one piece OF vacant ground
measuring less than 200 feet frontage
changed hands not less than three
times during the week. and finally
landed into the clutches OF perma-
nent investor who proposes to hold 1t
for future development OF West Broad
Street. which he surely thinks will +
bring him q great biz profit.
Agents and Spectators DisRuated.
y we'll informed agent. In this con-
! nection told me yesterday that pretty
much all OF the vacant properly on
| West Broad Street, from Allen Avenue
| on out into the wtldS or Henrico
| county had been gobbed UP BY per-.
manent investors. and that from now
on the spectators would have poor
! nickings in that kind OF West Broad
| property, and the real estate agents
| n still poorer showing. He gavo the
names OF a half dozen OF these per-
manent investors. and said he hed
| 'phoned to the last mothers son OF I
them for selling figures. and they had
al fna pr,h. h y
mark that there was nothing doing,ly8ss