The Richmond Virginian. (Richmond, Va.) 1910-1920, 1911-11-11
H|GA PRICES FOR
CITY REAL ESTATE
One Big Sale Indicates How
Figures Have Advanced
in Richmond
SMALL INVESTORS
ARE MAKING MONEY
Women and Young People
Buying Suburban Land on
lnstallment, Selling
at Profit

In the Industrial world of Richmond
nothing continues to attract a better
share OF the business mans attention
more than real estate. The past few
months have not shown the greatest
amount of heavy sales and transactions
on record. though there In no weaken
ing in the price of real estate. In
fact the tendency, II 1t has changed
at all, would be for higher values.
In discussing the local situation yes
terday one very well known real e.
tate dealer stated that the high prices
had prevented many transactions that
might otherwise have been easily car
ried out
Big inersase In Value.
During the past week Messrs. III.
Seldom Taylor & Son sold q vacant
lot OF thirty feet frontage. on the north
side Of Broad street. between Main
and Henry streets, for confederate
OF $500 per front foot This makes the
total of the sale. $4,000. The same
property sold In 1880 for the sum of
Sl,6oo The deal the past week was
made for Mrs. J. r. Gray. and the
purchaser Is Mr.. w. T. Smith
1t can be seen that IN a period of
thirty one years the increase in this
4Eal tstAL% rs al ln0tCAtloa VI Wnat
Richmond has been doing In a little
over a quarter OF century. A nice
problem Is to figure the compound In
terest at per cent. on an investment
OF &l,s0o for the same period Of time.
another compare IL with this result.
This sale liz but one OF many such
instances that happen here almost any
day.
Small spseaiato~s Busy.
SYnal ssr~ hsA<At 1riv.
business for themselves. Many youths
and women. caught by the popular
wave thai has been evident here for
the past year or two. have been max
ing good on small investments. Many
Of these went on the market for SUI
burban lots. buying them on INSTALL
ment from small savings and holding
them until the promoters got tho land
advertised under certain and success-
tul conditions. Then the small deal
er would sell at pront of q hundred
or so. pay of the rest Of the amount
due on the lot and pocket the Diff
ference for "A new deal
Such Investments Good.
Such speculations are really excel
lent for the person with small means.
The risk is little, for the lots have
not sold at pricss that are likely to
fall In the near future. In fact the
building westward. where most OF the
suburban property u located indicates
that all land values will hold steady,
or perhaps go up BIT higher.
The gradual adding Of new industries
TO those already established in Rich
mond Is bringing in greater out
side population. Numerous new en-
terprtses have been brought hero in
the past year. 6nd others arc promised.
All OF this means that skilled labor
OF one kind or another n being at
tracted to this place a. q center and
that homes are going w In conae-
Quence.
Rent Business Fine.
Rents are good and are being col
lected with better results this month
than for some time. Business, though
not over active, ID better ~ the Christ
mas holidays approach and money has
been a little moro plentiful with the
masses. This has enabled the rent
collector TO pun things together for
the final winding up OF the business
for the year.
In this connection II may be- said too
that the majority OF those making
changes for the fail season have Set
tied down and are busy housekeeping.
This adds to the betterment Of general
conditions as relates to collections
from the small rent payer
VtrGinis r1ace Selling.
In suburban property one Of the
most active that u now under dis
cussion is Virginia Place. which was
opened through Green 4 Redd, real
estate dealers. two weeks ago. Since
the property wAs put on the market
II has had splendid sale, This real
estate Is situated between the tracks
OF the Gintcr Park and Lakeside
lines. II II just three and . half miles
from the Capitol Square.
~
on sale in this same vicinity. Tho
Lewis Gintsr Land and Improvement
Company's Bellevue tho Lighter
Land Improvement Company and
others have holdings In thin section.
The lots on sale In the plot desiSnat-
Cd a. Virginia Place. ara sold ON
small installments. With = street car
line on each side Of the property the
success Of the entire sale II already
practically assured.
Building Soon Starts.
Yesterday 1t was announced that
probably Z half = dozen Ok those
who have bought this real estate will
build a. soon ~ plans can be made.
rhis-ls unusual activity for any land
sale. coming within two weeks from
the day tho property n hrst on sale.
Still there IL talk OF An arcade for
Richmond. The fact that tho money
could be secured has already been
passed ION. The real issue now y
where could such : building be placed.
Tho only point that = attractive Ap-
pears to 10 . location that would
open into Broad street from Grace
street. Owing to the buildings on
these two streets It y next to Inn
possible 70 md point 1t which
direct line could BE- run through this
heart Of Richmond section.