The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-08-24
REAL ESTATE AND
BUILDING NEWS
Realty Activities Reach
Unprecedented Fig
ure for August.
TRANSFERS JUST
GOING ON RECORD
Rentals Keep Up Beyond Ex-
pectations, and Few Modern
Homes Now on Market.
Considerable Business Done
During Month in Resi-
Dental Property.

recorded last week represented the
actual sales for that period. the realty
activities OF Richmond would have
reached the grand total of 5000.
an unprecedented figure for August
conceded TO be the dullest month In
the year. But unfortunately for those
faithful dealers who have patiently
stuck to their desks In the hope Of
picking UP a few fat commissions, the
larger part Of the deals were consum-
mated months ago, and the transfers
are Just going on record.
For instance, the news that the
northwest corner OF Eleventh and Main
had sold for 100000 hardly caused n
ripple. This property has been trans
ferred by II. NJ. Stuart to the Virginia
Building Corporation. which. 1t is ru-
mored, will shortly begin the construc-
ton OF a twenty-five story skyscraper
The first activity in the vicinity OF
this choice piece Of dirt was on March
rs, when Mr.. Stuart took over the
property-presumab bly, as the agent for
the company which Will build on the
site.
Unconcerned Over LuiI.
Deals that arc deals are as hard to
md as whales In the James River
None of the big fellows will admit
making pin money this month. but
SIN they appear unconcerned over the
lu!l. Again much gasolene has been
burned, and this is generally fore
runner Of sales. Altogether, a ouiet
spirit Of optimism is plainly visible,
ana no signs OF worry or uneasiness
over the dull season can be discerned
rentals are keeping up beyond eS-
pectations and when September / rolls
around there will not be enough NOV
Ing vans In the city TO accommodate
the rush. II Is n noticeable fact thar
rev modern homes-that Is, those with
all the convenicnces-are on the mar
hpf hon Il.
tneir asts At present are either below
the standard Or are held at prices way
beyond the means OF the average small
fhmily- a glance at the rents ns adj
EeFtised locally. and those in the
Northern cities. Will show that Rich
mond Is no place for poor man. but
as one dealer pointed out Yesterday
there Is no way of telling in what
Kind of locality those attractive bur
terhies are in But even at that. Rich
lnond rents are 25 per cent higher than
tho average in the larger cities. This
condition Will be somewhat eased when
number of new dwellings that are
now going UP in and around the town
are put on the market
The Held has been we'll picked over
and those families who have DELAYED In
the hope that houses would be n drug
and mat consequently there would be
crop in the rents-will receive dia
agreeable surprise when they scan the
lists that ARE offered for their inspec
ton. Not only did the rents keep up.
put In many instances. in the more
desirable localities. they went aero
planning. Homes that will suit n small
family are about as scarce as the sales
that have been pulled off recently
Deals In Residential Property
There was considerable business done
In the past month in residential prom
erty' During the week deeds showing
the transfer of property totalins 5000
900 have been placed on record in the
city and county courts. Most OF this
property Is in the city. the West End
and Church Hill proving the popular
points. The largest single deal. how
ever, was in the vicinity of Second and
Marshall Streets, where three lots to-
gether with improvements, went at
price estimated at $4,000.
Suburban property continues to at
tract investors, but there has been
falling off. This is particularly true
in building lots-small payment affairs
which are always affected by the va
cation season. The cool weather Is
bringing back many of the vacation
lists. and several new additions will
soon go on the market for their benefit
There has been an awful dullness
over on the Southside. During the
past week there has been no record
made of any sales. The predicted de-
mand for manufacturing sites has not
hopes entertained on the opening of
the new Mayo Bridge.
Woodland Heights Forest Hill and
other Southside suburban property, es-
pecially Swansboro, is keeping In the
limelight, and several good sales have
been made. Two new, modern schools
will be thrown open in this district
next month. and there is a great influx
Of homeseekers. Swansboro. too, Is
getting an extension to its car line. and
n large territory will be affected by
the change.
slump I'm Building.
Building activities in Richmond con-
tinue to slump, but the average in
small dwellings is being maintained.
The suburban property is getting more
attention at present, and beautiful
homes are springing up on every side.
Few, If any, of these houses viii be
ir the rental class, as practically all
are being erected by owners, who will
make their homes in them. Compared
with city property, these suburban
homes are in another class. They are
built by the owners for comfort and
convenience. and generally combine
both with spirit of cosness that can
not be secured in the cut-and- dried af-
) fairs on the market at present.
The spectators have evidently emu
lated the example of the ground hog
took peek, crawlcd in their holes for
another forty days, and pulled the hole
in after them. The lethargy on their
part Is without parallel. Usually. at
this season they are waking up. but so
far they have not attempted any stunts
worth mentioning. Money for them is
probably tight, but for the small in
weston there is plenty in sight Prac-
tically all of the realty operators have
considerable sums to loan out on good
risks.
Numbers of real estate men who have
been rusticating in the mountains, at
the springs or seashore, or AUTOMOBILE
Ing, are now at their desks. hut a fow