The Washington times., 1917-10-16
WASHINGTON
REAL ESTATE
FIRST-CLASS
INVESTMENT
Big Building Boom Forsseen as
Soon as Present Inflated
Prices of Materials Return to
Ante-BeIlum Level.
ny BILL PRICE.

Duy unoer present conditions, accord
ing to real estate men today, and
shrewd people, It Is stated, are taxi
ing advantage OF the opportunities
that are offered.
There VIII be mighty little con-
struction OF large buildings here until
building material drops, the larger
operators state, but in the meantime
the market Is growing more active
along lines that promise the absorp-
ton by investors OF property hereto
fore untouched A healthy demand
for the purchase OF homes has sprung
up and real estate men today be-
lieved It will grow.
For q while after this country en-
tered the war" said C. p. Stone, OF
Stone & Fairfax. "there was a tend
ency to hold on in making purchases,
and real estate activities ran to rent
Ing OF apartments, fats, and newly
constructed houses having everything
new in them. Now we md that the
war is no longer halting the man who
wants home. The truth Is that the
confidence in the future OF Washing
ton Is parallel with the nations con-
fidence in the Government This city
Is the heart OF this great nation. and
nothing in the world will stop the de-
velopment of either. Cabinet offi-
GERS, Senators, Representatives, men
Of wealth all buy homes here. They
know that II they have to sell later
they can get their money back.
Many Seek Homes.
New people coming to Washing
ton are already beginning to look
around for the purchase of homes.
They are a ane class OF people, too.
A large percentage OF the clerks who
a.
Government have some money of their
own. Their relatives own property
In the States and assist in invest
ments in Washington. As soon as
these people get settled here and be-
gin to feel that their positions are
pretty secure they will not hesitate.
THE advance in the prices OF build
ing material ought to and will en-
hance the value OF Washington
houses constructed before the rise in
materials. In some cities, 1 am told,
houses are selling at better prices
thSn before the war. Every real es-
tate man in Washington ought to
circulate The Times editorial of some
weeks ago pointing out that Wash
ington real estate Is equivalent to
gold and that nobody can go wrong
in making careful purchases in the
District"
Harry wardman, whose faith in
Washington and his courage to
tackle big propositions has made him
famous through the country, is op-
tImistic as to the future OF this city,
There are many splendid opportuni-
ties in real estate he said to The
Times, "but there will be a slowing
down of construction owing to the
imitation in building material and the
UNCERTAINTIES OF labor.
There is genuine value in Washing
ton real estate. On a building that
would have cost 81 100000 . year ago
the banks would have loaned 60 per
cent, but that same building would
today cost 81 100000 and the banks
will not loan any more than they did
a year ago. This puts all the respons-
ibIlity up to the builder. These things
will soon be adjusted and there will
be resumption of building"
"Busy Years Ahead"
Morton ]. Luchs, OF shannon &
Luchs, Is likewise optimistic as to
Washington real estate. "The demand
for houses is growing" he said, "and
IL looks as II there will be several
busy years ahead in this line, whether
the war ends soon or goes on for two
or three years. Even II ptuCt COHltS
sooner than we expect, the Govern
ment will not let up in it's pace for
long time. Thousands of clerks and
employees will retain their positions
permanently and will seek homes
here.
There are good bargains in houses
all over Washington, and no better
time to pick them up. This Is espe-
cIally true of what are known as
secondhand houses those built
some years ago and needing interior
remodelIng to bring them right up TO
the present time in conveniences and |
modern appearance.
Apartments and fats for rental |!
are scarce, but there are many good /
houses available. and in growing de- |
mand. In past years there were usu-
ally about 1000 houses for rent in 4
Washington the LIST Of each July. The 4
number is now far below that. As
to business properties. ! do not be- /
lieve there will be a vacancy inside
of a year anywhere near the center /
Of the city"