The Richmond Virginian. (Richmond, Va.) 1910-1920, 1915-03-21
STEADY IMPROVEMENT
CONTINUES TO SHOW
IN REALTY BUSINESS
BUSINESS CONTINUES TO PICK UP
THROUGH THIRD WEEK
IN MARCH.
MANY NEW BUILDINGS
REAL ESTATE Ex CHANGE HELP
ING ALONG IN THIS LINE, NEW
QUARTERS BEING CONSTRUCT
u
STREETS.

Steadily improving, though, per-
haps, not so rapidly as some of the
local real estate dealers desire, IL the
realty situation in Richmond. BUSH
ness continues to pick up. the number
of transactions and their size growing
in volume from week to week. The
third week in March was one Of the
best March weeks in a number of
years, more than S275. 600 tn bargain
and sale transactions being noted In
the deeds going to record during the
week and the deeds filed fail to show
the total of business during the week,
because Of the fact that all sales ter
minated have not yet been placed In
the form in which they are sent to the
offices of the clerks of the courts.
Not only has activity been larger
in the selling field. but rentals have
been good, collections better than In
some time, demand for loans stronger
and money conditions easier. and
there has been marked improvement,
in building operations. Building oper-
atoms are now under way or author
lied In all parts of the city, and 1t in
noted that in the territory immedt~
ately outside Richmond there appears
TO be a iivening up OF tho constrUc-
ton OF new buildings and of the
making of repairs and improvements
to suburban properties.
New Home For Exchange.
The Richmond Real Estate Ex-
change, too, has gotten into the game
and already the removal of old struc-
lures on Ninth Street, between Main
and Franklin, and on Franklin, be-
tween Eighth and Ninth, has been
begun to make room for the handsome
building that Will be the home OF the
exchange and in which Will be pro-
vided office space for real estate deal
ers. builders. contractors, architects
and others In allied trades or pro-
LESSONS.
The structure will be IL" shaped.
fronting 3s feet on Ninth Street rum
ming back 1871 feet, and then at right
angles to Franklin, where the 'front.'
age viii be II feet. The structure
will be of brick and two stories high.
with a basement on the Ninth Street
side.
The Richmond Real Estate Ex-
change will occupy the front offices on
the second floor fronting on Ninth
Street, and the offices will be especi-
ally arranged for the comfort and
convenience OF the members Of this
organiza ton OF business men. The
large reception room in the front will
be Of sufficient size 70 have public
meetings or the realty people. and
also Will be used for public sales when
conducted by members Under the aus
pices of the exchange.
The new building replaces an old
landmark. the old Virginia Opera
House. The building is 10 be erected
by the Joseph Bryan estate, with the
corporation OF the exchange, which.
during the week, agreed to occupy 1t
as its quarters as soon as II Is finish
ed
Building activities, as shown by tho
Office Of Building Inspector Butler. in
the number of permits granted and
the estimated costs of the buildings to
be constructed. are larger than In
months. Among the larger permits
were one for the construction OF
four STORY concrete warehouse for
Fleming & Christian Co, at Fifteenth
and Franklin Street, recently noted. to
cost sci ,00o. one to r. l. Gordon, to
build two and a. half story brick
residence In william Byrd Park Ter
race. TO cost $1,000; one to c. b.
Lathrop. to build three-story brick
residence at 1914 Park Avenue. to cost
$4,000, to r. II. Melton, to build Ave
two-story brick dwelling in the West
End, TO cost s2o,150: to o. J. Davis.
to build a two-story four-dweliine
brick tenement on Elm Street near
Park Avenue, to cost 1000, and to
w r. Drinkard. Jr., to build q two
story tenement on Floyd Avenue. to
cost $1,000.
Among the larger deals noted dur
Ing the week We're: Sale by 4. W.
Newman to w. c. Blanton, of 400
East Main Street. for $4,000: by J.
Lee Davis to Julien Gum. brick resi-
dence at 2209 Park Avenue. $11. 400;
by r. E. Pearman to II. Il. Hamilton,
2620-26 West Main Street, $4,000:
w. w. Miller and wife to A. r. Hold
erby. Jr, brick stores, 4l6-1S East
Main Street, $4,000. Moorefield &
Blake report sales in the West End
totaling $4,000.
A notable trade. involving $4,000.
was concluded Wednesday between
John and George Fahed and r. H.
Blakey. The Faheds sold TO Blakay
the brick store at COZ West Broad
Street for $4,000, and Blakey sold to
the Faheds As feet at the southwest
corner OF Leonard Street and the
Boulevard for s22.50o.
The sale OF eight farms in eight
days, reported by j. A. Connolly IL
Co.. show the condition of the market,
for farms. There Ia good demand
and the people are prepared in many
cases to pay cash for such purchases
or the eight farms sold the average
cash was So per cent. Among tho
farms sold by this agency was Spring
Hill farm of 200 acres.
Interest is added In the loans field
by the entrance of the American Ma
tional Bank In the lists Of those hav-
ing money tn loan on real estate and
farm property The American Ma
tionai Bank has announced to real
estate men its compliance with tho
requirements of that section OF the
Federal reserve act providing the
ioan'ng OF money on farm lands.
Among the larger loans of the week
was that In which the L. Bromm Bak-
ing Company secured $4,000 from the
Virginia Life Insurance. Company -