Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-10-08

of all manner Of business on nearby col
This has been the shibboleth of p
in petitioning for relief through propo'
street stretch from H street to Sect C
classification.
Some even had declared that it '
| at any price.
The study made by The Star Of the best
| available record of sales records during
| the past six years shows that there Is
| q basis for this battle cry" The study
! shows also, however, that these records
give aid and comfort in larger measure
| to Tax Assessor Richards In supporting
his assessed values placed on lower Six
| tenth street properties-that is, II the
| best available reports Of sale prices paid
| for properties in transactions during
the past six years are to be judged on
their face value.
The compilation of sales records, OBJ
tanned from the tax assessors office,
shows rather clearly also that while zeal
estate transactions IN this section have
not been stagnant during the past six
years, the volume Of the sales Of prop
critics, in numerical number of owner
ship changes, has been low In COMPARE
son with other residential sections.
! Sales Subject to Analysis.
1t should be borne in mind, however,
as 1t is by the assessors, that quoted
| sales considerations though accurate are
subject to analysis and Interpretation.
While a consideration may be properly
quoted, say, at 100000, light is shed on
the transaction when details are known.
| In such a sale. for instance. one prop
erty may be traded for another with
| very little cash involved. Indeed, no
cash may be involved. Then there may
be a situation where q buyers re-
| quirementS call for one particular site,
rather than some other available locc-
ton, making 1t reasonable for this indi-
| vidual buyer to pay higher price than
would be the normal market value" to
the ordinary prospect.
| Such circumstances are known to
| have prevailed in several OF the II sales
| transactions on lower Sixteenth street
properties in the past six years. How
| ever, no attempt is made in this study
to analyze individual cases and the re-
ported sales considerations as complied
| by the tax assessors once are quoted
herewith for what they may indicate on
their face value.
| Here are the facts as revealed by the
| files of the tax assessor. without identi-
| f1cations of the individual parcels sold:
II Changes of Ownership.
During the past six years there have
| been a total Of II changes of property
ownership on lower Sixteenth street, ex-
elusive Of seven transfers" of title
which, according to the best informa-
ton available, did not indicate bona f1de
sales transactions.
OF these II property ownership
changes, three were found to be fore
closures by default" The remaining
R..1, he IN h0nYl
actual sales. This amounts to an aver
age Of two and q third sales per year.
In addition to these figures, inspection
| Of this section of Sixteenth street shows
that seven dwellings there have either
"for sale" or "for rent" signs now dis
played on the different properties. The
front lawn Of one dwelling now has
considerable stand Of uncut grass
intermingled with weeds.
Support for the assessments OF Mr..
Richards is found, however, even In the
records of the three foreclosure sales
| during this period. Two Of the three,
| on the face Of reported figures, show
that the sale price was in excess OF the
assessment. One property, assessed this
year at $3.50, 1868, for land and building.
| was sold in January on default Tor
total consideration" Of $299,2O0. Inc
price was $50, 200 plus assumption OF an
outstanding trust Of $4,000. This Is
hotel property.
cording to Mr.. Richards information.
involved an apartment property having
an assessed total value as OF ls2!
amounting to $92,250. which was sold
for default in August OF that year Tor
total consideration" Of $lo5,000. The
price was $4,000 plus assumption OF
trust Of $4,000.
There possibly may be explanations
Of these considerations. but in the ao-
sencc of further available information
the figures arc quoted as above.
Third Less Than Assessment.
The third property subject to default
sale brought less than the assessed
valuation. This is a dwelling that was
assessed for 1868 in 1925. for land
and building, and was sold at fore.
closure in March of the same year Tor
q consideration Of $45, 900.
The properties in louvre Sixteenth
street which have changed In owner
ship in the past six years, bringing
greater considerations than the tax as
easements standing at the time OF the
sale are listed below, without exact
identification due to the possible oolec-
ton to property owners OF revealing
tabulation. however, 1t is thought, Will
indicate some valuable general prlncl-
pies. Again, also, 1t Is pointed out thar
complete knowledge Of the basis OF
these transactions might alter the COM
pariSons. but since this Information is
Unavailable. the figures as obtained oy
the tax assessor are given as the pesI
available indication Of the sale TRENDS.
A residence in square 1872, having
site Of 1000 square feet. assessed n
| 1926 at $80,772, was involved IN traae
which a valuation Of 500, 1000 was placed
/ on the property. There was trust OF
! $1,000.
An apartment house in square 184 on
a site amounting to 8,0l3 square teet
| having an assessed total value OF
$4l6,260 in 1928, was sold in October OF
| that year for q consideration OF $o1o,OuU.
There was a first trust Of $400, 200 with
a second trust of $4,000. The equity
was traded for other property.
Institution Buys Property.
A property, formerly an exclusive
residence, located III square 1875, which
had total assessed value OF $127,O0 IN
| 1927, was bought by an institution Tor
consideration OF $l4S, 900 IN OCTOBER .o OF
that year. The site contains $500
A property located in square 1872.
which had a total assessed value of
| $58,6l0 in 1927, was bought by a ma
| tional institution in December OF that
year for a consideration Of $106,4o
The site contains 4,041 square feet.
A large residence located In another
section Of lower Sixteenth street hav-
ing O total assessed value in 1925 OF
$161 900 was sold in that year for a
consideration of $182,500, according to
information gathered by the tax asses
sor. It still is occupied as residence.
L nneiGn,nan lnoafaA An snliaHA 1aO