Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-11-16
NOW IS TIME TO BUILD
HOUSES FOR RICHMOND
Real Estate business Not So Active
the Past Wcck-Buycrs and
Sellers Took Holiday.
AGENTS DISCUSS HIGH PRICES
Holders of Much Richmond Dirt
Have Inflated Ideas OF Values,
Say the Men Who Have To DO the
Selling

Richmond real estate buyers and
sellers evidently decided IL give more
attention TO The arnisticc celebration
last week than to business. and as
result the agents had the dUt'rst
week they have had for some time
past.
However,. som. business Was done.
Several sales were made OF West
Broad street property. sales ranging
from $4,000 to $4,000 in size. There
was also i, little business done in
Grace Street fronts and other thor
ouShfarcS.
\ prominent agency sold ten-acre
site Tor :, coming Industrial cntcr-
prise. the site being Just beyond the
city limits hut thar agency positively
present, simply saying thai II means
another big new industry for Richmond.
an industry that Is to come from NORTH
OF tho Potomac River and make this
city it's permanent homo and base Of
extensive operations. The industry
probably is 20 be trnii prSservin,si
plant. or possibly Il Z gigantic cider MILL
Tor il was stated that III. object or
the removal 10 Richmond was /" get
into the center of the virginia apple
growing territory.
Owners Have tnuEh, had Fever.
ans same agency - ruucLVorn.S TO
huN iCr .snutuvr industry site IA or
very near 10 ms CITY. uu. 50 lar has
luuRd jnal owners oI SuCn sites HAVE
caught IA" nlsu price, ur .,vontcCrIns.
ever. or nave s",tc., ,ucir lucus o.
art vaIUrs n"rcHuont wonHcriuuy in
Hated.
mother agent was heard yesterday
Ia say that many hotter. al i;lcn-
mond rcaity-any Kind OF rcaIt!-hoNc
advanced their usureS beyond ali rea-
son and in very many instances made
II utterly Impossible Tor the agents
III whose hands Spch property has pccu
paced Tor sale TO '.nu q Customer Wiii.
.ng 10 pay such inflated isurcs. II is
true tnat Richmond ground has in
creased III value Within the last e!Gh
teen months, Increased greatly, ana II
IS truo that the bricks aud mortar
and nails and wooden tn'n.s that MAY
h" on the ground are all worth more
money now than ever before. hut
neither the ground ur tho .mproV cmcnts
mat stand upon il are worth anything
like tho prices that some holders who
pretend TO want TO sell have placed
the business long time. and usually
knows what h. j. talking about when
he happens 10 ~ diaeussin" real estate
and real estate values.
Now the Time 10 Build.
There is not.cnuhlo some l,tti. inn
rruNGment IN building operations for
this late in the tali and winter season,
but not "a nurn as tn. demand for
residences calls for.
Those who have erected residences
for sale or for rent nave nroiitcd in
spitc. OF the nigh cost Of labor and
building material. one investor who
erected nine houses in Earton Heights
has already sold at a profit eight Of
them. Another concern that has built
several III various sections has not IL
single one on hand now and proposes
10 erect Twenty-Five more.
People who are in a position TO know
what they ar. talking ahou; assert
that now is the time 10 build no mat
ter IL the cost * high. They say Il
will he decade al least before the
cost VIII ue any less than now, ~ the
whole matter Of high figures for build
ing material hangs on the high cost
Of the lapor that enters into the Pre- pa
falions Of everything a house is built
u and there Will lie no coming down
OF wages TO the mechanic and tho la
horer for dozen years yet. If ever.
The investors who have money they
expect hnally 10 put into new build
mGS--residcnccS Tor rent and tho like
might as well turn IL loose now and
let the house the newcomers and the
odd sianahyS arc clamoriuc for hc bull,
Thcy VIII bear ! profit whc,hci built
iur sale or Tor rent, AID the profit Is
ALI the inNcStc" y Looking Tor.