The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-08-31
REAL ESTATE AND
| BUILDING NEWS
Nothing Unusual About
the Midsummer.
Dizziness.
RENTAL AGENTS
KEPT VERY BUSY
Sacrifice Bargains Not to Be
Found-Richmond Dirt Good
neutrality-suspicious. Are
Taking Vacation-Younger
Agents Fretting, but
OldTiners Calm.

me last day Of August found many
VI inc real estate agents and nearly
al on the Investors and spectators
sun taking vacation" Not many of
enetn were at the mountain resortsy
ana very few, Ii any, are on the sea
snore- AS matter of fact, the ma
Jority OF them were right here In
richmond. but they were taking va
cation all tire same. Not all of them
wanted to enjoy vacation, but many
OF tnem had TO. for the simple reason
that they found very little in a busi-
ness way to do, Some of the never
men in the business, and all of the
very younger crowd. are taking -vaca-
ton very hard, but the old sta.rers
are more philosophical. and they are
really enjoying this enforced holiday.
OF, as it sh ould be properly called. the
august lull in the real estate business
This summer lull, Notwithstanding
al the talk about tight money mar
ket and all that kind of thing does
not disturb the old stagers at all One
OF them talked to me yesterday, and
here is what he said: From time i'm
memorial the period from the first of
July to the first Of September has
been holiday season with the real
estate agents and dealers, except In SO
far as the rental business was con-
cerned- Two or three years ago, may
be two years ago. unusual conditions
made the two months of July and Au-
gust the most active In the real es-
tate realm of the year. The next
year the same was true to a dimin-
ished extent This year things have
gotten back to normal and, as was the
case before these unusual conditions
showed up, July and August have
again become the do-nothing season
for the real estate men.
The young men in the business whose
memories do not run back so far have
gotten a little demoralized, and they
have been talking dullness to the
limit AS compared with the old time
business. I think July and August have
been active enough. \ Certainly these
months have kept the rental agents
sufficiently busy, for ] doubt If they
ever had more active time, Tho
demand for homes and apartments and
rooms was never in the history OF
wager dollars to donghnuts that If
you will make the circuit you will
find that the rental agents have clean
er rent lists to-day than they ever
before had in the closing days of
August"
NO Exception to the Rule.
This agent went on to say that all
trade is duh in August and because
of doinGs in Washington. the capitol
OF the nation, where Congress is in
very unusual session, and considering
tariff and banking questions cnlcn-
lated under the most favorable cir
cumstances to make people little
afraid all business Is especially dull
just now. and real estate is no excep-
ton to tho rule and ought not to be.
And yet. so far as Richmond Is con-
cerned, it Is not near SO dull as is
business in other lines.
-
said that the hunters after ~distress-
bargains are hunting in vain hap
pen to know OF a goodly amount OF
money that has been held by bargain
hunters to be invested In Richmond
realty at sacrifice sales that tina
strinScncy of thv money marhat Was
expected to bring about, and not a
dollar OF this money has yet found
Investment This simply means that
there have been no sacrifice sales, and
there has been no necessity for them
Richmond realty is good for full value
all the time. and while 1t may be true,
and is true, that many holders OF
eligible Richmond dirt owe money on
the same, they have no trouble in
carrying loans. and tn no instance
where the property has advantageous
location. has anybody been forced to
sell dirt to meet payments.
Spectators Not In 1t.
All OF the agents that is. all of tho
old regime. are optimistic, and they are
looking for good business in the au-5
tumn. or course, their optimistic views
do not take in any wild speculative
propositions that extend away out yon-
der in the country, far beyond the city
limits There is general agreement
that the speculative fever that some
months ago carried people, and their
money to a certain extent, and their
notes To a greater extent, too far be-
You'd the city limits has been assuaged
and perhaps ought to have been, but
investment in real city property is not
to be feared.
The sales of the past week were
enough to keep the agents in n mood
to look after business. but not large
enough to create any kind of enthu-
siasm among them. Several rather
large deals that were hanging on the
string were forced to remain there or
to dry up because of the fact that
banks from which loans Were expected
to carry them through saw proper to-
suggest that hold up was in order. Az
IL general rule the spectators, the mon
who buy for n quick profit. arc entirely
off the market. They arc taking wa
cation" such as it is. Such is the con-
dition of the market, SO far as city
and nearby suburban property is con- h
cerncd.
Farm Property In Demand.
In the matter of farm property the
situation is little different The
young man who has caught the back 81
to the soir' fever made his dnanciaIS
arrangements before the dullness jsae
the money market came along two
months ago, and the Westerner who
has his eye 'sot" on old Virginits
brought his cash with him. and so 1T
happens that while the agent who
banks his All on the changes In city Il
property is having somet thing of holi.
day. the farm seller in Virginta ahass
been right busy all through the month
of August AT least half IL dexeri