Evening star., 1931-12-26
REAL ESTATE MEN
HOPEFUL FOR 1882
Foresee Prosperous Year as
Demand for Homes
~ Continues.
Continued From First Page.)

ter houses for the same price than they
were able to do in earlier years.
One feature of the last year has been
the conservative reaction of finance
agencies to new projects, there being
apparent a rejection of appeals for
loans for operations regarded as highly
speculative, bankers requiring pro-
moters and builders to show definitely
the prospective demand for their pro-
posed developments and to invest large
sums OF their own as foundation for
applications for loans.
IL Is regarded as good thing for
washington that bankers. here and
elsewhere are most carefully scrutiniz-
Ing projects that smack at all of a
speculative, venture, because of a num-
Der OF unfortunate experiences in this
line IN the last several years, circum-
stances that have led to scandals. in
veStigationS of illegal and unethical ac-
t1vities, prosecutions and convictions,
with which Washington now is all too
familiar.
Properties Taken Over.
Indicating an absence of specula-
tion, holders of trusts on buildings that
have come to grief due to over-optimism
In capitalization or deliberate imitation
in few cases. have taken over the
properties, one realty observer points
out
Business property market transac-
tions have not been particularly ac-
tive during the last year, despite a
number of important leases and sales
OF the properties
There has been no major addition
to office building space here during the
last year which would add to the
amount of vacancies in such proper
ties, although the great progress made
In the razing of structures in the sites
OF Federal and District development
programs had caused a continuation
OF new homes to house affected con-
Germs
Fundamental strength of apartment
house investments was indicated in the
vacancy survey of such properties con-
cluded early this month by the Wash
ington Real Estate Board, showing an
estimated vacancy of 78 per cent
out Of s56 apartment buildings con-
tanning a total of 22,638 apartment
units.
According to an unofficial estimate
furnished bv the Office of the District
assessor, William P Richards. there
are ,436 apartment houses in the Dis
trict. containing $3.50 units. On the
cred SO per cent of all apartment struc-
lures in Washington and their family
units.
Vacancy Survey Taken.
The vacancy percentage found by the
board was but seven-tenths of | per
cent higher than that found by the
Operative Builders Association for
1880. but the current survey covered
7,242 mere apartment units than were
surveyed last year. The amount of
vacancies in apartments found by the
builders organization, was IL per cent
In 1880; SO in 1929, and 10.9 in 1928
The smallest amount of vacancy in
apartments was found to be in the one
room, kitchen and bath units and the
largest in those apartments consisting
of more than four rooms, kitchen and
bath.
Here are the findings of the Wash
1ngton Real Estate Board in this re-
gard: One room and bath apartments,
6.51 per cent vacant: one room, kitchen
and bath apartments, 487 per cent va
cant: two rooms, kitchen and bath, 1893
per cent; three rooms, kitchen and
bath 883 per cent; four rooms. kitchen
and BATH 875 per cent. and more than
four rooms, kitchen and bath, l4.89 per
cent.
Interesting reports on other phases of
the realty situation here also is fur
nished by the real estate board
Records the, board has compiled show
that 10,888 deeds were transferred here
during the first Ii months of this year,
as compared with 10,919 in 1880.
Foreclosures Decline.
During the first II months of this
year also 1874 deeds of trust were
placed on record here, having a total
valuation. of 266.656, as compared
with 1892 trusts amounting to S96,-
087,116 recorded during the first II
months of last year.
The board reports also that during
the first II months of this year there
were 983 foreclosure sales, as compared
with a total of 1,199 recorded during
the corresponding IL months of 1880.