The Washington herald., 1921-12-18
REAL ESTATE HERE
STEADILY MOVES
FORWARD in VALUE
local Authority Gives
:. Keen Insight on Con-
ditions in District.
-
SHOWS GROWTH
Claims That Close of Old
Year Finds More Home
Owners.
SHOWS GROWTH

"One of the greatest years in the
history of Washington and the
country is drawing to- close. Eco
nomic and international causes
have played a huge part in this
most important era. 1t has been
esta blished beyond a doubt that
real estate in the District Of Co.
lumbia is steadily increasing IN
value. Realty owners can face the
future with little fear Of slump
in their activities"
The above is the way R. L. Nc
Keever, head OF the firm of Nc
northwest, sums up the real estate
conditions here as the old year
draws to a close.
AT the beginning of the present
year" said Mr.. McKeever. many
of US looked askance at the year
ahead, as reports came thick and
fast OF Industrial panics through
out the nation, following closely on
the heels OF more dire reports from
abroad. The national cry for econ
omy in the conduct OF government
tai affairs threw its shadow on the
people in Washington. But econo-
mics were made in the various de-
psrtments here and readjustments
throughout the agricultural and
industrial sections OF the country.
But the surprising thing about
It ALL" said Mr.. McKeever. were
the developments OF the past few
months that showed We had been
more scared than hurt Washing
ton real estate values did decline,
but only in the degree that the
costs of building material in new
construction and the price Of labor
declined. This decline, although
small, demonstrated to the analyt
zeal mind that there had been no
mad boom In the price Of Wash
fngton real estate. 1t demonstrated
that values IN the city were based
on sounder foundations than mere
Wild speculation, and further show
ed that values were based on the
desire OF many persons to own
their own homes"
Our business showed a steady
increase in the volume of home
sales and 1 believe that the records
will bear me out in the statement
that the end OF the present year
finds less renters and more home
owners than at the beginning of
the year. There has been grow
ing tendency for people to move
further out where it is possible to
secure a home with a little ground
around II. This tendency has car
rIed with IL an extension OF resi-
Dental districts well into the
States Of Maryland and across into
Virginia until the city of Washing
ton is now well linked up with
splendid homes TO the adjoining
homes OF Alexandria.
Business property movement"
said Mr.. McKeever, during the
year is rapidly taking the business
out Of the two street class. The
business district is fast moving
northward Our business property
department has enjoyed it's most
successful year. and more and more
investors of the highest class are
being attracted to business property
in this city.
Tt is my firm belief" continued
Mr.. McKeever, that business prop
critics in the right locations VIII
steadily increase in value We
have made a close survey of condi-
tions and values in the business
district that convinces US that I'M
usual developments will be seen in
the next few years in these loca-
tions
Il believe that the future Of the
real estate market here is secure
and that home buyers and invest
ors can buy now and feel that they
are getting the best prices that
will be obtainable for a long pc
riod of time. The prices Of build
ing material are again showing a
tendency to advance"