Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1917-12-17
REAL ESTATE OUTLOOK
IN GREATER RICHMOND
Dizziness That Has Prevailed and
the Reasons for It Home
Builders Holding Back.
CITY REALTY GOOD AS CASH
owners Do Not Have to Sell to Get
Moncy-Cnn Borrow From Banks
and Agcnts-Whcn Room May BE
Expected.

], is admitted on all sides that the
rear estate business of Richmond has
ucccn rather dull for more than IL year.
~ TACT. ever since the beginning Of
Inc war in Europe II has been some
what OF. In this time there have been
spur,s. and now and then week OF
activity TO be followed by Il return OF
wartime dullncss. These weeks OF
Increased activity have sometimes wit
messed large sales that brought COM
fort and Joy TO the hearts of the
agents and proved that the business
OF selling ard buying Richmond dirt
was not entirely dcad--not even near
enough to dca tn TO nccessitate the re-
tircmcnt from business of any of the
agencies.
CONTINUED DIZZINESS
IS CAUSED BY WAR
Tho causes OF this moro or less
continued dullness arc not hard to find
In the hTst place tho high cost OF
building material brought about by
war conditions tho scarcity and high
cost or labor have caused home build
crs to hold off and live yet q while
longer in apartment houses and rented
residences. and of course, they are not
in the market for vacant lots on which
TO erect permanent homes. In the sec
ond place; Richmond real estate is the
best security man can OFFER the
banks and the agents who have funds
10 put out at interest for loans, and
Inc owner OF realty who needs money
for any purpose IS not forced to sell
his holdings TO raise il. but can go 70
the banks or to the agents and get
IL on his realty. & Main Street real
estate agent whose Office is near Elcv-
enth Street. is authority for the state
mcnt that mis- firm has any amount OF
rnon,, to lend on Richmond real;.,
and 40 man with a lot or lots 20 mort
10, ,..i, bn
Thus the owners OF realty who must
have money can continue 10 Mold their
ground for higher figures, and belic..
Ing that those higher figures arc
bound to come when things That have
been thrown out of joint by war.
again settle down. his property is not
going to he on the market yet "hilc.
These arc some of the things that
have cons i,ifvi 10 give Inc real estate
agents a comparative dull time.
The question arises: How long are
these things TO la st" Ccrt3inly such a
condition must have an end. II Is IA.
opinion OF every we'll informed man
ana Of ali the prophets that il the War
should end next spring, itichinond
WON'T nest summer and fall see tnc
greatest activity in real estate
s...d.uS ii has ever known. That
means that business viii certainly bc
rushing at the end OF the war; that
,he men who have laid up means to
build homes, the men who haze hau
in mind plans 10 build houses. .csi.
GENITAL and business. for renting viii
be in the market for the ground to
build upon that the men who own
such ground and have been borrowing
money on Il VIII be sellers and in one
way and another all OF the agents will
have their hands fall Of business.
Eu, what II the war does not end
ncHt spring and at that time SHOWS
signs of hanging on for an indefinite
period liner" arc arO1h"t3 VINO say
Jhai IN that event the most or the new
problems that have been brought to
tho front by war conditions viii have
solved themselves by getting adjusted
20 these conditions ard then In spit.
OF war. business viii move more
smoothly. In tn. meantime tho wouIa-
be home builders and people WIN
means. who have IL in mind TO build
business houses and residences as an
investment and are now holding or
because OF the high cost OF !nateria.
VIII Se, tired waiting for the dccliue
IN such things and VIII go on &i,,
their building witch ihc cxpccta alton
that rents. TOO. viii have to come up
like other things and they VIII be nntt
10 get a far revenue from their in
vcs;mcn;. There are many who be-
VI ievc that TOR many years following
The war, building material will con-
t:nnc at wartime prices and that
there is no scncc in waiting longer &C
carry out their we'll formed plans for
building homes. etc.
on the whole the real estate agents
look for greatly improved business be-
fore or by tho Time 1918 is six months
old. and ii the war seems to be COM
ing 10 an end by that time a real old
fashioned boom and rush in the line
OF buying ana selling Richmond dit
and building on II NAY be confidently
looked for.