The Richmond Virginian. (Richmond, Va.) 1910-1920, 1913-08-21
REAI ESTATE VALUES
CONTINUE UPWARD CLIMB
SIGHTED Specuators Have Made Money Out of Legitimate
Healthy Growth Which Has Kept Pace With Cys Progress
Hundreds of Instances of Profits Made Individual Deals
Volumes of Transactions Show Great Increase

s,nrularly free from wildcat" spec
nlatlon and inflated or boom values,
The erowth ~ Rlchmend's real estate
-Ans!ness has excited attention far and
wide and has attracted many investors
ard CAPITALISTS from distance,
The erowth IN values, of course, has
hat kept pace with the growth Of the
city. but this growth has been re
.narkalqle. for M city in the South
Hand has enjoyed anything like an
egma3 measure Of prosperity with
plchinond's in the past decade True.
there has been speculation without H.,
nnd true fortunes have been made IN
the past few years by spectators, but
II has been speculation Of the legitl-
.nate. healthy sort. without which the
real estate market would be an ex-
ceedlngly dali ana embarrassing prop
psition--in fact. practically impossible.
No one man has become fahulously
rich In a night or cleaned UP Tor
turie on single deal for II has not
been a gambling proposltion---slrn
a legitimate, healthy growth In values
that has permitted the far-sighted
md knowing ones to get in on the
ground floor and take advantage or
Richmond s. Increasing prosperity.
Hundreds Of instances might be
given of spectators making big pro-
fits on Individual deals. Some OF them
read like romance: but the difficulty
As that the men who speculate do not
like to appear In print and are reti-
cent about giving out for publication
inside information concerning their
priyate affairs. The real estate report
err hears the facts from some agent
who was probably concerned in engi-
neering the deal but always with n
canton as to confidence. The specu-
lator might want to sell the property
again. and naturally doesn't want pos
sihle purchasers to know what he
maid for H. Not that he desires to
dupe anyone, but in putting out his
money for property and holding Il for
an Increase in value, during when
time he is paying taxes on his invest
ment he is engaged in legitimate
business.
Not long ago an investor who pur-
j chased, esr hotel property and hetd
II about three years realized $4e,Wo
ON his investment, but more recent
instance on the rapid turnover was
the sale Of nearby summer resort
property which netted the last man
who handled II IN the neighborhood
three times in less than month. The
last buyer expects to develop II. An
other instance was the case Of an en-
ferprislng hotelist who desired tc
purchase the property adjoining his
hotel in order 10 enlarge the structure
10 take care OF rapidly growing bust
ness. When the hotel was built ne
could have purchased the adjoinins
property at very reasonable figure
but thought it high and declined to
buy. His growing business final,
forcing him into enlargement OF his
quarters. no recently purchased the
lot at more than four times the price
ii was offered less than ten years ago
for in the meantime property blocs
away on the same thoroughfare had
practically quadrupled in decade
ana brought the record price Tor rea
estate in Richmond-s541 front foot
The examples might be multiplied
indefinitely.
The volume of real estate transac'
tions IN tho past four years has shown
xnmarkable increase. practically quad,
yupling In 1908 the total sales OF rea
fCuntinued on Sixth Page.l