The Washington times., 1911-05-06
FOR YEAR
. IN REALTY SET BY
FIRST WEEK IN MAY
Million Loaned and Nearly
Two Hundred Sales
! Made.
GAIN IN NUMBER
OF PAPERS FILED
Ball Park Transactions Material
ly Assists the Loan
Market.

s. With the closing of 100 transactions in
the sales department, and with a total
Z of nearly s,0O0.OoO loaned. the first week
of May establishes a new record for
real estate activity in 1911.
q The nearest competitor for record
honors in the years weekly number of
sales was the third week of April, when
lS2 sales were closed. In that week the
total Of the loan market did not reach
100000. The past six days. therefore,
snow an average increase Of more than
one sale a dav and more than $4,000
daily advance in the loan branch of the
realty business over the nearest rivals.
Deputy Recorder of Deeds Robert W.
Ilutton had to go back two years
business in his office that exceeded in
the number OF papers filed for record,
41he total number Of instruments record
ed this week. During the past six days
6S4 papers, including deeds, trusts, ard
releases. a daily average in excess of
100 Mr.. Iuttop found that in the first
week OF May, 19c9,, this number of pa
pers had been exceeded by two. total
fof 6S6 being offered for record that
week.
Gains of This Week.
AS compared with the corresponding
week in 1910 this week evidences a gain
of forty-seven papers offered for record.
As about one-Third Of the papers filed
are deeds and represent sales closed.
the past weeks business shows al in
crease of sixteen sales over the activ-
itv Of the corresponding period of last
year.
The opinion has been freely expressed
among brokers this week that the busi-
ness of May 1911. will far exceed the
record-breakiag figures attained last
May. II the past week is 10 be accept
ed as a criterion. little doubt can be
prophecy.
To be entirely fair In the comparison
OF this weeks activity with the best
week of April. it must be admitted that
In the number Of lots involved in the
transactions closed, the third week of
April had a decided advantage. During
the pats six days there We're involved
only 32S lots. as compared with 402 In the
third week of April.
The bulk of sales this week, as BELTS
Maytime, was in the outlying suburban
tracts, and the next highest number of
lots sold was In the near-urban district.
The total of suburban lots sold was lis.
and of those nearer the city eighty-four.
Within the city proper the northwest
leads, with a total of siXty-two lots
transferred. followed by the southeast
with thirty-one sales to its credit. There
southwest, and sixteen in the north
east.
Baseball Grandstand.
The Washington American League
Baseball Club materially assisted the
figures of the loan market this week
with its mortgage of Sl09,O00 TO pay for
the erection of its new grandstand
tThis sum swellcd the weeks total of
loans to 1896 SO 33, very close TO the mill
Hon mark. Three hundred and twenty
eight lots were pledged TO secure the
repayment of this large sum of money,
which was loaned at an average interest
rate of 5Ia per dent.
The feature of the weeks business in
loans was the total reached by deferred
purchase money notes given during the
week. which nearly consumed half the
volume of the weeks loans. Usually
the bulk of the business is in what are
denominated new loans. being those
made to persons already owning the
but this weeks figures of the
purchase money trusts are within $4,000
of the new loans. The record shows
new loans. S466, %. and purchase
money, s44S.972.iO. The output of the
various building associations was SS0.9
As the ball park is beyond Folrida
avenue. the credit of Its 100000 hond
issue went to the county section, and in
creased the loans on property of that |
character to s5S7.3o5.6I. In the north |
west there was borrowed S323.350. and in |
the southeast. S4.530.12. Loans on |
properly reached S26, 700. |
and those in the northeast. s14,690.