The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1912-03-16
TARDY APPROACH
OF SPRING HURTS
REALTY MARKET
With Return of Sunshine
Brokers Expect Sales to
Increase.

Real estate activity is being affected
adversely by the retarded approach of
spring. The weeks bareback of snow
and drenching rain left It's imprint on
the sales of realty, a review of which
shows a decrease of eight sales from
the record of activity during the first
week of March.
A glance at the returns in realty OPP
erations for the corresponding period
of last year shows that by the middle
of March the spring boom was In full
swing. With the return of sunshine the
brokers express the conviction that sales
will increase, and when the total OF
the months operations is computed In
this colmun, It will be found to equal
March, 1911, IL not surpass the record
for that month.
While the business in sales shows
r. decline of a little more than one sale
a day, this detection did not obtain In
the money market. The total of loans
made in the last six days shows an
increase of nearly $780, 600 over the fig
ures reported last week.
Many Transactions Closed.
The brokers succeeded in closing 1874
transactions during the last six days,
involving the transfer of 220 lots and
parcels of real estate. The suburban
sections continued in tho van of the
market with a total of 50 parcels con-
Veyed. Land in the near-urban district
was next in demand, and a total of IS
lots were sold In the northwest ~
lots changed owners, followed by the
northeast with % lots There were II
sales made in the southeast, and II lots
were transferred in the southwest.
lease filed for record this week is
interesting In connection with the ru-
NOR of negotiations looking to the pur-
chase of the Corcoran building, at Fiji
teenth street, Pennsylvania avenue and
+ street, and the erection Of large
hotel on the site. 1t was executed De-
Cember 16 last, and by its terms william
CorCoran Eusts leased to Victor X.
Kissal and SpeIos Caroom the store
room No. 5N Fifteenth street for term
of five years from January l. 1912, with
the privilege of renewal for an addi-
tlonal term of five years. The lease,
however, would not prevent the sale of
the property, but might have the effect
posed improvements. Mr.. Eusus pro-
Nided as one of the conditions of the
lease that in the event of a sale of the
property at any time during. the term
possession of the leased premises might
he obtained on six months notice to
the tenant.
The sale of the Summit apartments.
on Euclid street between "a Th MI
Breuninger to Philip T. Hall for $4,000:
probably was the largest sale closed
during the week. In the business dis
triCt the sale Of premises 10S Tenth
street northwest was noted. The Wash
ington Loan and Trust Company held
the title as trustee. and conveyed the
property through James L. Marshall to
the Washington Investment Company
for $4,000
John w. Brawner purchaser thirty
four lots in Wesley Heights from Kath-
crqine Z. Malone. and conveyed a half
interest in his purchase to II. Rozier
DulanY trustee of the bankrupt estate
Of Thomas f. Waggaman. This prop
erty was included in the land conveyed
last week to Katherine f. Malone by
deeds executed by the late Thomas Z.
Waggaman ten years ago
Loan Market Figures.
TIE exact figures in the lean market
this week are Sj9S,92S Ct. This SUN. an
Increase of nearly % per cent over the
BUSINESS of the preceding W. Elk, was
borrowed on the security of 4S3 lots.
The prevailing interest rate remained
at - per cent.
Straight loans monopolized the mar
ket with a total of $4l6,5?4.5l The sum
os all the notes given for deferred pur-
chase money was $9S.G3L13. The output
CT the building associations was $03,7C0.
Suburban property proved the most
attractive security Tor loans this week.
and the total borrowed on land outside
TIC old CITY limits reached SIS, IJS 81
The naxt greatest demand came from
owners of property in the northwest,
where loans amounted to $lE6. 500. ".
Northeast properly was pledged for an
aggregate of $3R 9S5S. whilc in The
southeast loans reached $1,000. The
total borrowed on land in the southwest
Slb-