The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-11-30
Home Buyers and Home
Builders in Evidence.
Contractors Smiling.
M ONEY MATTERS
AND THE BANKERS
Unincumbered Real Estate Can
Always Command the Money.
Bank Men Are Cautious, but
They Listen to the Man
With Realty Security.
Builders Are Busy.

The sales OF real estate durinc. the
past week were confined almost en-
tireiy To deals between the agents who
mad small properties TO sell and the
buyers of small homes. The SPECTATORS
and investors are still on the waiting
line, and so far as they are concerned,
very few investments are being made.
The people WHO are in search of bust
ness property arc still in a waiting
mood. They have heard a good deal
about the real estate dullness and the
tiGhtness OF money. and they are still
o. tho opinion that by holding off r.
while longer they may be able to pick
up some sacrifice bargains in the way
Of business property. The holders OF
TINS class OF realty are Just laughing
i'll their sleeves. renewing their notes
where necessary paying UP the in
toreSt on the same and saying in eff
feet to the would-be investors who
are waiting for enforced sales: You
Just keep on waiting and by and by
you Will get left"
The Money Situation.
The fact is as set forth IN this col
umn last week, the holders of good
real cstotc do not have to make any
sacrifice sales and they are not going
to do it. They can borrow all the
n bad bargain that they might nave
gotten hung up IN. one of the larg-
est among the real estate agencies Eavo
me yesterday u point or two to illus
trate this feature of the business.
said he: You hear n good deal of
talk about the scarcity of money, and
1T Is certainly true that money is hard
To get. 1t is not scarce, however;
there oceans of 1t right here in the
raj tIti i.,.t ~, yxJ
TO get away. Just why l DO not know.
There are people who say that the
banks are holding the borrowers up
TO try TO force a sentiment on the
currency hill that President Wilson
now has the Congress considering.
do not know about this, but l do know
that when YOU go 10 a bank to get
n loan your paper is very closely
scrutinzed II the paper carries a
sure enough real estate security about
II, there may be some question and
some delay, but in the end 1T will get
the money
You know all the banks DO not lend
money on real estate security, but
these banks have just now "A whole lot
of depositors who are not getting any
interest worth talking about on their
deposits. and they arc getting anxious
for q little per cent dividend. These
depositors arc loosenng up to n de-
gree. and several OF the real estate
agents arc being asked to find invest
ment for idle money.
Business That WAS Done.
From this man and from several
ether sources | learned that considers
able business was done along this limo
last week. one agency showed me the
paper that had been signed, scaled and
delivered. that called for loans OF this
character amounting to as much as
SO
takinG their money out OF bank and
lending II on coed real estate security.
the argument of the agent referred to
was that this kind OF thing is sure in
the near future 10 make the business
III tho real estate lime better and more
active Eight or ten or maybe a dozen
other agencies talked encouragingly
along tho same line. but for obvious
reasons would not go into particulars.
As above Indicated. the most of tho
sales OF the past week were on the
small order, but there were ? good
many Of these in which home buyers
showed up in rather good shape When
the home buyers, pressed by the talk
OF money tightncss. go III 10 buy they
naturally look Tor Bargains in the
suburban regions. and thus it happens
mat the most of the activity. such as it
was was confined 10 the suburbs.
DoinSS In the Suburbs.
'4p'OicN NUCkOlS, VINO nave Dut
on the market many nice lots in the
Roseneath subdivisions sold more than
q dozen lots last week, and at least
hait OF them went To men and women
who declared their intention OF build
ing homes right away. These lots
averaged something In excess of $1,000
each.
The Realty ami Finance Corporation
Oh Virginia. which company is exploit
ine the North Richmond Terrace prop
osltlon. made some good sales during
the week. and Mr.. Anderson, of the
concern, tells me that seven out Of ten
OF the buyers propose TO build right
rway.
Numerous agents tell OF small sales
of building lots in the West End. anu
an encourAGins thing about it all is
th"t tn most OF the buyers are home.
huiiders who propose 10 get the con-
uactc!s busy rs soon as estimates and
bids can he rotten in.
The contractors and builders, who
have been complaining for sorie weeks
alb 'It dun tines. arc ! 4. i,,,i ng tn
smile III lie more tn II they diI. and
they corr obolatc the statements above
That home makers are making more
inqurN about the cost OF building. 1t
is worthy Of remark that tho con-
tractors are DISPOSED 20 net the homs
makers half-way ana bids for work In
tho building line are a trihe lower
than they were some months ago. The
weather conditions arc favorable. and
all things considered, IL looks as if
there is going 10 Ia more building this
winter ia=u the contractors and the
Morlme.a were LOOKING for a few
months agc.
Farm Lnnds Active. N
al the farm land dealers report ac-
tivity in their line, hut very few OF
them are willing to give out partiou-
lars. However, there is at least ono
exception.
One OF the most important up-ths-
James deals was consrmated during
the week when It. a Cary became tho
owner OF Little Dover" situated twar- +
ty miles west or Richmond This farm +
is considered by experts az one OF tho
anest IN the James River Valley. The
Continued OH Page Scyen.)