The Washington times., 1917-07-07
1917 RECORD YEAR
FORINVESTMENTIN
CAPITAL REALTY

The fiscal year 1917, which ended
June 80, established a new record for
real estate investments in Washing
ton. During the preceding twelve
months nearly 1000. 900 was invest
ed in the purchase OF or loans on
local realty. The brokers in the
fiscal year closed e.s6e sales in which
were involved 1T.34e lots.
The second quarter OF the calendar
year 1917 also experienced better
business than in the first three
months OF the year. During April.
May and June the total OF invest
ments reached 81. 900 900. while l.S1l
deals were reported and 5,641 parcels
changed owners. In January. Febru-
airy and March investments totaled
S14, SOC. 900 and sales aggregated 1,5T3.
II more proof were needed of the
attractlveness of Washington real
estate for home and speculative In
vestment. It is found in the increased
demand for property during the first
week OF July.
Activity This Week.
Despite the Independence Day holt
day, which reduced the working days
to ave, the brokers closed this week
i4s sales involving the transfer OF
AZ lots and parcels OF real estate.
In the opening week OF July, 1915,
only 102 deals were reported and only
$50 parcels changed hands.
The District now owns its play
grounds at First street and New York
avenue northwest. This property,
which has been used for Fairgrounds
purposes for several years by the
courtesy OF the owner, was acquired
by the city during the week. Con-
Kress appropriated $40, 1000 for the &C
QUESTION OF the land and the money
became available last Monday.
800 Large Loans Made.
The largest financial transaction of
the week involved the new Masonic
Temple at Thirteenth street and New
York avenue, which was accepted as
security for two loans agEregatinK
$2T1. 800.
The first loan was advanced by the
Massachusetts Mutual Life Insurance
Company and was for S1S4.TO0. re-
payable in annual installments from
January 1, 1915. to January ]. 1927.
The second loan was for $50. 900. and
is to secure the trustees OF the Grand
Lodge OF F. A. A. NJ. and is to be
paln In ten years bOtn loans pear
5 per cent interest
Monday was the busiest day OF the
week, when forty-four trades were
reported. Thursday made the poor.
est showing with only fourteen sales.
The outlying suburbs outdistanced Its
competitors for the supremacy OF the
market, being the scene OF the trans
fer OF 366 lots. The northwest
ranked second with forty-six lots
conveyed, being followed closely by
the near-urban district with thirty
eight lots. There were fourteen lots
sold in the southeast, eight in the
northeast and fve in the southwest.
SsO4,ss7 Borrowed.
Decided improvement was evil
denced in the loan market. The exact
figures in the loans for the initial
week OF July were Ss04.S9T.Os. This
sum was borrowed on the security Of
45T lots at an average interest rate
of SIS per cent.
Straight loans had the bulk Of the
weeks business, totaling 1857 $50. The
sum OF all the. notes given for de-
ferred purchase money was S93, O4T .os.
members t44.T0O.
Northwest property retained favor
as a basis for loan security. being
pledged for an aggregate of S406.350.
Land in the county was encountered
TO the extent of $780,. s9T. The record
OF loans in the other city sections
was: Northeast. S24.s00: southeast
1880. and southwest, $4,000.