Evening Star Newspaper, June 16, 1923, Page 17

REAL ESTATE.~ MEANS TO FINANCE BUILDING OF FAMILY HOME EXPLAINED Cost Should Not Be More Than Twice An~| ‘nual Income, Minneapolis Bank Tells Prospective Builders. While one can build wonderful air castles out of nothing, it requires ready cash or cashable securities be- fore even a small house on earth can | become a reality Just how much money is needed and how large a house one can build | and maintain on the family income is| cxplained in the following, prepared by the Minneapolis Trust Company Suppose you want to build a home costing $6.500. ride whether you can afford to build you one well located, should be worth . or about one- fourth the value of the improvement This will make a total cost of about | ing and housing autho! itles have concluded that you shou not buy or build a home costing more annual income. afford to build e if vour income is $4.000 or more per vea Your next pro If you m ments or by def ®hould 1ot take you lo m is how to fin v for it in ins teen vears. To do so ¥ an initial capital suffi ible. Here are the items you ave cash for se of lot, $1,500 water meter, $8: building plans and specificat ! cent First you should de- | must _decide upon a! with | nt with the cosi of | Eranted thai t to make | survey of | of a first mortgage bearing 6 per interest. The commission on this will be 313 per cent. or $140, if the mortzage runs for five vears. The balance, $1.850, may be raised by a second mortgage on which you will have to pay from 7 per cent to 8 per cent interest plus a commission. It would be well to make this mortgage for a term of four years. Payment on Mortgage. As your second mortgage is costing vou more than your first mortgage, it is to vour advantage to pay it off before the latter and as soon as pos- sible. You must now decide what sum vou can set aside each month | toward the payment of this debt You can afford to put into pay- ments on a home the same amount that vou can afford to pay for rent h are able to save out ome over and above cur- expenses. Rent should ne-fourth of your in- fifth s a better pro- gs varies with differ- come 4 portion ent_people depending uvon individual : tarift. However, we are taking for yours is the average adults and two children ge requirements $50 a month will pay cond mortgage in four years. our home at this rate will be costing ing you $39 per month during that Renewal of T There will of four vears. the first $4.000 to be paid. ture for anothe 500 and pay the re- Ee of/3 per cent. or $105. SALE OF SMALL LOTS Petition to the county commission- ers againsi approval of plats located outside the city, foot lois are dential purposes is the step taken by the Minneapolis Real Estate Board | and reported to the National Associa- tion - against what is held to be in essence | 11 nmot in law fraudulent real estate ! development. singly £ - | homesite, only at | hela THE 'EVENING STAR. WASHINGTON, | New Home Ready to Occupy |BIG BUSINESS AIDS 33th street, Massachusettx Park, just occupied The site e Smithsonian Institution. D. C. SATURDAY, JUNE 16, 1923. {Ing the demands of the cement in- dustry, according to Concrete of De- troit. The report of the United S(lle! SMALLER GONCERNS [siniet S5 701,216 barrels of portland l’ement were shipped in this country last Volumes of Trade Produced|vear- In producing this material the g cement mills used enormous gquanti- | Through Operation of the | ties of supplies furnished by various| Large Manufactories other industries. For example, well over 45,000 miles of wire were used in making wire |ties for the cement sacks shipped How many large manufacturing en-ldalorlov:fi, the )e?r i ?p:;oxh::;:layd R.; tons of coal were ;erpflses create huge volumes of fhe it iEniasanas {n® s antsion: usiness for other concerns 13 shown | 5 400,000,000 cubic feet of gas and by figures recently compiled cover- | 4,400,000 barrels of fuel oil were con- _——— auare from the Protestant Eplscopul Cathedral | | AKRON HOME DEALERS FOR HOUSES OPPOSED of Housing Condi- tions. where twenty-five- | ing offered for resi- of Real Estate in the fight | so platted ave | |has been |city council by mittee of the the housing Akron Real tate Boards. ASK INVESTIGATION| Wunt City Councfl to Make Study An investigation into local housing conditions with a recommendation for | 'steps to be taken by the city for! |remedying the conditions as found undertaken for the Akron| Board, according to a report made to, _ |the National Association of Real Es-! In the service which | Your Home Look where you will and you'll not find the equal of these new-type Cozy Homes at Albemarle and 38th Sts. Chevy Chase, D. C. | 1 i | 1 REAL.ESTATE. 1 sumed. More than 15,000,000 pounds | worn out. destroved or failed to comte & of dynamite and explonl\p. were shot ‘ Lack to the mille last year, and H off in cement quarries in blasting | was necessary for textile milis to s 1o0se the year's supply of raw matori 00 bales of cotton 3§ ¢ als. More thar 300 miles of belt con 1oth needed for replacs-"* veyors were worn out and had to b a small percentage of replaced during the year. The heavy ment is shipped in paper machinery in the various mills re- 7.000,000 pounds of paper quired 32,600,000 pounds of oils and | w sed in making such sacks in greases for lubrication purposes, and | 19 more than 4,500,000 firebrick were ddition to these supplies, t used in relining the huge kilns in | d: hought quantities of which the raw materials are burned. |grinding and burning machine Although an individual cloth cement v <, rails and other sack is a small thing in itself, ap- ment needed in producing the proximately 50,000,000 sacks were supply of cement more than Here’s a Bargain for Some One This handsome detached Home r five yea Tn the next five ve it will have to be renewed for only |the Akron board thus is giving as) yments of about $1 and as interest at 6 per |a8€Nt of the council is also included la study of average rentals in various | cent on this amount is only $93 per|Luliions of the €ity as found in the | year, you should be able to pay off {investigation. I this talance in three years. This The type of house most needed tol tl time will be about |relicve present kr(‘\\dll[l{ is the house | which will rent from $35 to $0 per ¢lll have your month, the committee’s preliminary | Teport states i I'ake everything into consideration—location, neigh- borhood and character of the Homes themselves, they “beat the market.” They are Kite built—which guaran- tees they are not only superiorly built, but of excellent material. 1317 Delafield Place Saul’s Addition It's a pretty Home neighborhood of pretty Homes of making to do this ount of eted vou he value means again Price, $7,250 436 Manor Pl. N.W. Just North of Park Road Modern 20-foot brick house, with six rooms and bath. Lot 137 {cet deep. Terms. Open Saturdays and Sundays 2 to 6 A Home Within Your Reach Mathews Woods A New Subdivision in Chevy Chase. D. C. Only 15 Lots Left For $1,000 Cash You can take sour choice of 13 lots in beautiful section uf Washington, Some lots are 50:111.5 ‘Feet—Some lots are 50x145 Feet il are covered with beautiful trees. This price includes the and cem the most sewer DAY You'll Come there from & AM. carly —salesmen are prepared for to build now, Six rooms and sleeping porch; tiled bath, hot-water heat, stone foundation, stone fireplace, slate roof, concrete porch and best of finish throughout. Price and terms are as tempt- ing as the Homes themselves Open for inspection every day and evening Our Mr. Hamiiton will be found at the Sample Home or vou can phone him—for special appointment—Cleve- land 1490. Take Chevy Chase cars to Alb +f Bureau of Standards), turn west to through cars to Windom' St arie Sireet (first 3Sth St stop norti or Wisconsin Ave and is absolutely in per condition from cellar to roof. The finish is of stucco—and the interior arrangement most comfortable and effective. Living Room and Dining Room are of splendid size— with beam ceilings and hard wood floors. On the %econd Floor are 4 B edrooms and Bath and Sleeping Porch. On the Third Floor are 2 storage room. cellent Hot-water heating system It's a beautiful Home and can be bought at a Special Price--Special Terms Our Mr. Hamilton will be on the premises Monday, ‘Tuesday and Wednesday next, from 9 to 12—or vou can phone him Cleveland 1490 and he'll make special appointment. Bedrooms and spacious Built, Owned and For Sale by Harry A. Kite (Incorporated) ) to the Circle and walk on Western Rittenhouse Street, follow Rittenhou: eet to the Real ce by the big electric sign in front of the Purple Iris Phone Main 4846 1514 K Street Harry A. Kite Incorporated Member Washington Real Estate Board 1514 K Street Phone Main 4846 N. L. SANSBURY CO., INC. “Everything in Real Estate” 1418 Eye St. NW. Phone Main 5904 Members Wasnington Real Estate Board ay is not you out. GERTRUDE VAN HOESEN With Quinter, Thomas Co. Phone Main 8416 819 Fifteenth Street e $6,550 Will Buy You A Brick Home! You’ll Have To Hurry—There are Just 5 of Them Left! Come Out Sunday! You should come out as early as possible Sunday morning. We will be on the ground ready to show you over this propertv. Drive out East Capitol Street to 18th Street Southeast, or take the East Capitol street car and get off at iast stop on East Capitol Street. The numbers of these houses which we have left for sale are Nos. 18 and 26 to 36 on 18th Street Southeast. Phone us for an appointment and we will take you out. convenient. phone us for appointment and we Member Washington Real Estate Board Our Proposition to You! These houses could not be built on today’s market at the prices we are asking—just $6,550. They're brick. Each home contains 6 rooms and bath. Electric lights and all modern improvements. Pavement paid for. Deep back yard. Plenty of room for garage and garden. You can have vour choice of these wonderful homes by making a cash payment of only $600 and we will let you pay the sk balance out at $65 a month. Lk L S R0 - Located Opposite the New Eastern High School! No Other Brick Homes In The City At This Price! The homes are well located. They’re well built. The prices are excep- tional. The terms are lower than yvou could really expect. You're getting 6 good-sized rooms that are well arranged and nicely decorated. You're getting a bath room that is comfortable in summer and winter. You’re getting a full basement. The sidewalk and pavement are paid for. Con- veniently located to schools, churches and car lines. When you buy one of these homes you’re getting your full share of real American independence. Why pay rent when you can buy a home like this for the same money that vou're paying out now for RENT RECEIPTS. You've been wishing for this chance—here it is. Will you grasp it? Figure up how much you have paid out in rent since you were married. Then figure how much of an equity that same amount of rent would come to had you been buying your own home. Forget the past. Start now and make your monthly pay- ments to yourself instead of your landlord. $600 Cash 65 Per Month Including all Interest 1415 Eye St. N.W. -1415 Eye St. N.W. Main 4752 Main 4752 orvics Raziou .MM"KEEVER-d GOSS MEMBERS OF THE WASHINGTON REAL ESTATE BOARD M"KBEVERWGOSS,Mce MEMBERS OF THE WASHINGTON REAL ESTATE BOARD