Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1918-08-26
FACTS ABOUT REAL ESTATE
BUSINESS IN RICHMOND
Not SO Dull as Appears on the Sur
face-Conditions Arc Chang
ing in These Times.
HOUSE BUILDING AT sTANDsTILI
Spectators Not Much in Evidence.
Sales OF Vacant Houses to Would
Be Builders-Renters and Land
lords-Iess Moving Than Usual.

The average real estate agent will
mako you think the business OF han
ding city realty Is as dead as door
nail when there is no excitement at
tendant upon the business; when no
speculation is going on: when people
are not buying vacant lots here, there
and everywhere and building residences
and business houses on them; when lot
swapping is not going on every hour
In the day and when some other things
on the Richmond real estate market
every day in the week are no longer
AT the present time. for obvious rea-
sons, there is. no building of private
residences going on. and. therefore.
cant lots on which to build them. and
there is little or no speculation In real
estate. Holders OF vacant lots are not
selling them because they are not being
offered pronts ~ this investment and
they do not have to sell: If they must
have have. money they can borrow. It with
real estate business looks dull. but if
one will min an agent down and ques-
that the real estate agents. OF Rich
mond are doing pretty good business
not just the kind, he has heretofore
ing business all the same.
The fact that no building is going
on is due to scarcity of labor and its
price of all manner of building ma
terial. from the nails that go into, the
and from the lime and cement that go
into the mortar up to the bricks and
the iron of which the more imposing
keeps the agent from selling the va
cant lot on which the homemaker is
to. build. but. SO far as the agents com
by giving him the opportunity to sell
TO the homeseeker house already
p h one; ner,haps' whi zen has been on
This state OF affairs has brought many
vacant houses into market. and the
agents have collected their commits
houses that have been for sa. so long,
it has been found. could be made as
the installing OF some lacking modern
improvements and conveniences. which
could be done in pinch in most cases
high cost of materials. That much of
this kind of business has been going
on for the past twelve months is evil
dent from the removal of many for
sale" signs from houses here. there and
everywhere r. about the city; 49,,
for newcomers. people brought here by
war activities and the like. and who
the majority Of the real estate estab-
lishments are rental agents. have a
plenty of business in that line
j
all Of them, arc money-lenders, that
Is. they have constituents who have
funds to put out on real estate secur-
ity. and, as ntimated above, any man
with such security to offer can always
find what money he wants and vast
deal OF mortgage business is being done
by, the agents, and this in spite OF
vestments and the like of that. The
agents say the sale OF mortgages is
very brisk at this time.
The moving season for renters is near
at hand. and the agents report that
there Will be less moving this Scptem-
her than heretofore at the same date.
One reason for this is explained thus:
but because the, house he moves from
needs repairs that he can't persuade
the owner to make. 1t being .pecu-
liarity of landlords TO put off and hes
he already has; 1t often happens that
landlord will fatty refuse to make
$50 OF needed repairs for the old renter
and then have to have twice as much
he can get another renter. Now. be-
cause of the scarcity of labor. it is hard
to get repairs done even when the land
lord is willing. and the renter makes
so he stays where he is. taking his
chances to catch up stray workman
after while 10 do the patching that
may be necessary for his comfort.
keeps a great many from making any
changes. for be II understood that the
Introduction of the auto truck has not
brought down the cost OF furniture
The real estate business in Richmond
is not dead. as some wouid have us be-
lievc. II is simply undergoing a change
of conditions-keepi up with the
times. perhaps In the meantime. much
business property is occasionally being
sold and resold in the old-fashioned