The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-09-21
REAL ESTATE AND
BUILDING news
Better Feeling All Along
Line Because Money &
Is Much Easier.
REASON WHY: THE
SAFEST SECURITN
Been Demonstrated That Noths#
ing Secures Quite So Securely aa
Good Richmond Real Estate. 81
Those Who Got Scared 81
Have Come Back to &
Their Senses.

There arc only about three or four Il
pessimists among the hundred and one
and maybe more of real estate agents
who have their signs out on various
streets In Richmond. These three or 4
four have been growing not a little u
for several weeks past, while their i
more fortunate and more optimistic
friends In the same line of business
were off enjoying a well-earned hoIf-
day season. The vacation takers have 81
returned to business, and the few pessi
mists are very much In the vocativc.
With the return OF the active work.
ers there Is new life in the real es- D
tate business. at least that Is the View q
That was expressed to me yesterday
morning by one of the livest and most
wide-awake men in the real estate line.
This optlmfst went on to assure me
that all of the visible conditions arc 4
better than they were n week or two
weeks ago There were some people s.
with whole lot of money locked s
up In bank who kinder got scared s
a few months ago and put an extra
twist on the key that kept their little (
old surplus cash locked UP In the
banks. and there it remained locked &
without drawing q cent of interest,
These people, who are in the habit OF &
lending out money through the real
estate agents on gilt edged real estate
security. have gotten a little tired OF {
letting their good cash lie idle wfth-
out any interest-bearing end to At 3
$50 the agents say), they have been
creeping around the real estate agsn-
cies for the past two or three weeks.
since the September winds commenced
to blow little colder, and urging
the agencies to find a little loan
corner In which they can leave their
horded hundreds aud thousands with
a guarantee that 1T will draw "a Httls
bigger Interest than the banks are
In the habit of paying on deposits.
Tight Wads Getting Loose. ".
Then again, there are some old
money bags and the like OF that inE
Richmond who. or which. watch the
times and the changing tides with e. 4
vast deal OF care, never caring very
much.-what about Richmond or Vir-S
Einia or anything else other than their
own little old money bag. These and
the like of them have been Watching
the the doings in CONGRESS and at the
White House mt Washington. and sc
cretly hoping that some of the things
doing there concerning tariff reform
and other sorts of reform and what NOT
might rorce or scare some kinds OF
stocks and bonds on the market MT a.
sacrifice and they have been holding
back their money with the hope OF
making some sort of an investment or Z
that kind. Now. it develops that Mr..
wilson, the President, and several y
other people In his confidence had some
thing Of an idea as to what they were
doing, and they have done 1t quite
well. The result is. there has been no a
scare, commercially speaking, no fright
on the part of anybody, and no weak
ening in stocks and bonds and things
OF the kind that the moneybaEs OF
Richmond had hoped to invest, inSat
the sacrifice prices that might have
been suggested by a money scare.
Coming Back to Business. Ss
The result and the sum and sub. 4
stance of all of this Is that good deal
of money that has been held in local
stockings" is now coming out to seek
investment In the best security that II
the whole world knows anything about q
Richmond realty mortgages. 1t Is no Il
secret that the money offered on real Il
estate mortgage loans during the past
week was somewhat in excess of the
demand. That Is. 1t Is no secret to s.
the man OF news. Some of the agents
may not have yet found it out. or. If Is
they have they are not telling 1t out
loud. They pretend they have not
found it out ~
1t is hardly to their best interest to 4
get posted SO quick. But all the same.
the man or woman who wants to buy 4
little moro real estate anywhere
around Richmond or wants to improve
that which has already been bought
or desires to add to IT. will have little
If any trouble in negotiating a loan at
the usual interest rates, with the even &
heavier official fees added. These rates
are large enough and the fees FROM (.
those of the real estate agent up to-
the recording angel in the court-
room, who has the last whack at your
little old mortgage, will all be simply
enormous In the aggregate, but all
the same, he or she who thinks he
or she can stand the aggregate will y
not have from now on any trouble in
negotiating loans. Money Is plentiful Is
enough IL good Richmond dirt is the 3
security and the margin is big enough
to give the agents their commissions
and the notaries and the clerks and &
the attestors and the title investiga-
tors and all the like OF them all OF the
fees that the ubiquitous laws OF Vir-
ginia allow.
BETTER Feeling All Along.
In view of all of these facts, whfcH
are admitted. there is 4 much better
feeling in the real estate market +
There has been moro inquiry during
the past week. and there are many q
indications that there Is going to be
right active business before the frost N
begins to kill the late vines and shrub
berry that have been growing on some e
neglected lands in Richmond and the
suburbs during. the dull season.
Many small sales were reported last
Wcth anu Snea " AeeSdn t6tl or a. ~
pretty big one in they acreage line.
They sold thirteen acres OF good lana e
on the Belt Line somewhere In tho
Westhamptlon region. The agents gre 81
a little reticent, nut il has leaked ont q
that A. L. Adamscn. John G.. Ee sly ana Il
two other heightened capitalists com s.
posed the syndicate which owned tiifR
property. and II Is understood that tbs 81
agents got for them about s ss, GOO sfySt: n
cash for the good dirt which gave Their 8
of two or more years ago. The nnf1a3a
of the purchasers are not given. bar ~ ~:
will be developed ere long Wtc MS i yss
are. They will soon have tho q 6yll5A2
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