Evening star., 1938-12-31
Realty Outlook
Is Held Good
For 1899:
Accelerated Sales
Volume Seen for
MostCities

The year 1889 will see accelerated
sales volume for real estate in more
than .four-fifths of the cities of
the country and higher prices for
residential property in majority
Of the cities. But gains in other
!. sectors of real estate activity will be
TAR less generally distributed, &C
cording to the first forecast of the
real estate year ever to be under
taken by real estate boards of the
country, just compiled by the Ma
tional Association of Real Estate
Boards.
Forecasts for individual cities,
some of them confidential forecasts,
were made by real estate boards of
N. A. R. E. B. in 212 cities. From
detailed study of their indications,
Freehold, magazine of real estate,
in its January issue, draws this
thumbnail sketch of real estate in
1899 in the average American city:
10 Per Cent Sales Gain.
Median City's volume of sales de-
cidedly higher than in 1888, about
10 per cent. Prices for residential
property-some of it's per cent
higher. But a price differential be-
ginning to be very visible between
used houses and new-a difterentlal
larger than we have ever seen. July
l, 1899, may be its date line. On
that date, unless Congress acts to
r prevent it. F. H. A. insurance for
houses whose construction was COM
menced before January l, 1887, be-
comes a thing of the past.
Business property in better de-
mand, but prices, except for hot
spots, about the same as 1888. No
more new business buildings spring
ing into life along Median City's
Main street than was the case in
1888, though in more than 20 per
cent of the cities of the country
this construction will perk up, a
very notable phase of the outlook.
Increased refurbishing of present
structures. Plans for new ones get
ting ready to pop at a further
swing of the business cycle. Indus
trial property still very sluggish.
No Apartment Boom.
Some real apartment construc-
ton, but not by any means quantity
building. Apartment situation be-
ginning to be affected by private
building under F. H. A. rental hous-
ing and large-scale housing insur-
mace and definitely affected, too,
by U. S. H. A. building, scheduled
to become reality in this year.
Vacant lots in greater demand
than has been known since 1929.
But no new subdividing in Median
City, though 1t will hear of other
cities where little more subdivid-
Ing will be getting started than was
1eeen In 1898.
, Rents for single-family dwell
lngs trembling on the verge of rise.
Apartment rents holding their own,
feeling the stimulation Of better
general business but feeling also the
effects of new Notwithstanding
the pull of new low-cost single
family dwellings.
Home building really beginning
to go places. Definitely better than
last year. In this Median City,
about Is per cent better. Liquida-
Yion of repossessed properties passed
beyond the center of the stage.
Mortgage Money Plentiful.
Mortgage money plentiful. In
terest rates low. The low rates a
shade more generally available. A
feeling in Median City that rates
are beginning to be pretty we'll
stabilized. Taxes actually about the
same as in 1888, but fear in the
air that they are going higher.
Worry over unequitable assessments,
especially for downtown properties.
Differential in outlook strong as
between well-located properties en-
ployed for their best economic use
and other properties.
All this-as the men who made
forecasts for individual cities point
ed out-has a large "if" in it. It
Is the outlook If present trends con-
tinue for general business.