Evening Star Newspaper, June 23, 1923, Page 16

: ; ; “16 ¢ REAL ESTATE. : ‘THE EVENING STAR, WASHINGTON, D. C. g BUILDING DROPS SHARPLY - Curtailment of Construction an Accom-~ plished Fact—Survey Shows 20 Per Cent Decrease in Country- May building statistics show that curtailment of construction activity, go far as the planning stage goes, is an accomplished fact. From 200 cities, the American Contractor has collated returns, and May totals show roughly a 20 per cent decrease from April totals. / A 20 per cent drop in the valuation of building permits is accounted for actually in huge figures. The total valuation for May is $267,355,888. The April valuation was $330,581,862. The story of local variations in activity planning makes more clear the sig- nificance of the above figures. w York city leads in May valua- ué‘: with $39,556,401 to its credit. This exceeds its April valuation by $4)000,000, which on first thought does not seem to bear out any story of curtallment of operation. However, the following tabulation of monthly vajuations in the metropolis for the first five months of this year and last year makes it perfectly evident that the May figure is very curtalled when compared with former records exgepting those for March. January February Always a Slump. Tn the case of April for each yvear fndicated there has been a terrific slymp from a tremendously high total piled up In March. The main reason for this pecullar phenomenon is that the tax exemption law's possible ex- pitation at the end’of March in the cage of each year led to a rush to| get under cover of its benefits. As al matter of common knowledge the law haz not expired on either of the eventful , occasions when it might; have. Chicago exhibits second highest| vajuation of permits for May, the tal being $32,198,000, as against $61,- 814,96, for April. approaches the While this drop per cent limit, it| still leaves th the second high & AS MATERIAL COST SOARS 4 | ngures, cate how ambitious a program Chi- cago has mapped, according to the evidence in the records of its bulld- ing department: Month. January ebruary March rel April May . In considering building In Chicag it must be remembered that there a vast outlylng district in whic! bullding activity, especlally of resi- dential nature. is golng on apace that is not included in Chicago re- ports at all. In the complete tabula- tion of Illinols Evansville alone 1s credited with a $500,000 valuation; Aurora runs over a $600,000 valuation, and, besides these two large cities, there are many other suburbs growing rapidly. Los 'Angeles ranks third in May valuation, and, as in the case of Chi- cago, the valuation is second highest for the vear. The state of activity in the California city is shown In the following tabulation: Los Angeles Valuations, 504 As will be seen from the above we cannot say that Los Angeles evidences any suggestion of marked slump. There are but two citles left in the May valuations run- ning over $10,000,000. These two are Detroit and Philadelphia. Out of & total of $55,327.976 for the first five months of this year, Detroit's May valuation accounts for $12,976,761. Philadelphia, with a May valuation of §12,709,660, shows a real drop from April ‘valuation of $19,729,815. Th total valuation for the first V' months of 1928 in Philadelphia is $6 808,220, Summing the April and May valu- ations in these five citles gives a total of $143,978,480 for April permits and $116,3 for May valuatfon. Therefore the percentage drop in the five citles involving major operations is approximately 20 per cent. This is the same percentage drop as is manifested when the 200 cities are est valuation for any month this year. The following tabulation will indi-! 3 | | i | | BUSINESS AT 0DDS| Upwerd Trend of Trade Indicated | Despite Contradic- ! tions. Contradictory reports from the vari- | ous manufacturing and distributing | centers regardin the state of the soft- wopd lumber market to gauge the true uatio 84 the | mberman, Chicago. Some m to have noted an | demand during the las E that bu rotofore, t ng the situation 'at large, how- ever, it appears that the trend of trade is the market is a week or two gged a good deal the tenden week now more prominent, and d tributers expect no further material recessions. Buyers, however, are not! d of this, but continue to pos mmitments, expecting to be e r later on. Mean- atching the market not fail to take ad real to stabilize noted’ last | continualiy , and it ought to be y r of days before they will ha to come into the market in a consider- | ably larger w One thing that is) helping the current lumber market is | e number of transit! n, local de in the south tor is the heavy ing material, bo the west coast. Industrial 5 b and on | iness in sofewoods also aiiroad and heavy con- s being the only ones in Xports remain heav neanwhile are producing co more lumber than they ai . and stocks probab »d before the ne: ment sets in, fTurniture industry is looked for shortly fter the close of the midsummer furni- ture shows. Automobile and building interests are also expected to come into the market on a larger scale soon, as they are very busy, with excellent prospects for the rest of the year, and are steadily cutting down their lumber | stocks, e general opinion seems to be, however, that the hardwood market | wiil remain relatively slow for the next BiX to eight weeks, but all expect a big business in the fall. e White and nake it difficult | || reviewed. It is quite a colncidence that the five largest cities should re- flect so truly the trend of action in the large number. The twenty cities (New York, Chi- cago, Philadelphi; Boston, Pitts- burgh, Detroit, Los Angeles, Balti- more, San Francisco, Cl Seat- tle, Minneapolis. K y Louis, Dallas, New Orleans, apolis, Milwaukee, Buffalo and At- | lanta) which show the trend of ac- tivity over the period from 1814 to 1923, inclusive, show a 17 per cent reduction from April activity, the total valuation in these cities for May | being $165,052,089, This \'nluntinnl brings the charted progress of 1923 down much farther from the abnor-| mal March peak and practically on a| parallel with activity in February. | LOCATION CHANGES COST OF BUILDING Prices Differ Greatly in Vari- ous Sections of United States. Bullding prices vary greatly I difterent parts of the United Sta more, aven, than one would imagin as shown in a survey of costs made %0| by the U. S. Department of Labor. Freight rates have much to do with it, as well as do local conditions and different wage scales. The department’s figures, given as of May 1, show average prices paid by contractors for building mater! delivered on the job. % Taking common brick as an exam- ple, it is shown that ewhile the price is put at $25 a thousand in Scran- ton, Pa., the price in Columbla, 8. C., s $12.50. The general average ap- pears to be around $30 a thousand, and for the most part prices are lower In the south than in other parts of the country. Figures are not glven for Washington. Prices of Cement. price of Portland ranges from $4.40 a barrel, exclusive of containers, the highest, In Ar zona, to $2.85 in West Virginia. The rice given for Washington is $3.30, 3altimore $3.50 and Richmond $3.15 Yellow pine prices vary greatly, shown in the survey. The cost of two-by-fours In No. 1 grade is $32 at Richmond and $80 at Fitchburg, Mass. This material, produced, of course, only in the south, has added to it a heavy freight tariff when it reaches parts of the country as far Only 1 Left of those beautiful TANKERSLEY BUILT HOMES Ready—Move In (Corner Alley) 307 Seaton Place N.E. Six attractive, bright, spacious rooms, closed- in sleeping porch, ample closet room. The cement C. L. Tankersley Owner and Builder I Ph. Col. 4565 " Open for In Beautiful Inspection ‘16th Street Heights ally in_southern pine, but ! || %5 pos A A handsome_home locate wonderful view. We extend a and to_those who have been lookin Brief—Spacion place and Freuch doors to porc pantry with built-in_refrigerat ths_(shower) ; double glass-in wood floors, 'garage. Diniug room, library o : four master 'bedrooms, ci osed sleeping porch. bright cellar, servants’ toilet, laundry trays, hot-water beater, electrie lights, osets, two complete tiled Attic over entire house. Large hard- Come Out Sunday and See for Yourself Price Only $17,500 WALTER A. BROWN 1400 H St. N.W. Main 16534 Gray Stone Houses Near 16th and R. I. Ave. N.E. o, Just Completed—Open for Inspection Detached, with wide concrete porches; just Will( you are lookig for; six rooms, bath, hardwood trim, hot-water heat, electricity and gas, elegant concrete cellar, stationary wash tubs. They are moderate priced, sample houses, and can _reasonable terms. be bought on very See Your Broker—Make An Offer North 9091 Edmonds Contracting Co., Inc. Call Lincoln 4113—Will Drive You to the Properties ‘The price from $60 to goes as high l'fl' as New Englan in Miohigan cities r: $68, while in Kansas i 58. 'he price of hollow tile appears to range around 20 cents in most parts of the country. It is selling as low as 14 cents in Towa and high as 30 cents In New England. It is in- teresting to note in this conmection that hollow tile is nearer back to pre-war Trlcu just now than is any other building material. price differences may well be taken into consideration by the man who is planning to build a home. in price between different kinds of material as compared with pre-war prices. Assuming that prices eventu- ally are due for a drop, as many predict, his property apparently will depreci- ate less if he builds now from those materials which have dropped in price farthest from the peak and which more nearly approach the old- time costs. —_—— After a year's work, a London in- vestigating committee has found ten- nis to be the best game for girls, though swimming also is indorsed. It may be that he is so located that he may bulld a iderably less cost iffhe uses the materials which |are the smallest in the world; 100,000 are cheapest In his-locality. Again,|of them could be placed in an ordi- it is well for him to study variatio thimb] The screws made in watch factorles 3825 Morrison St. Chevy Chase, D. C. Corner House (Corner 39th St.) ° . Open Sunday from 11 to 7. Front and side porches. Built by the owner when material was cheap. Large entrance hall, large living and dining rooms, both with open fireplaces, pantry and kitchen, foyr unusually large bedrooms, tile bath, two bedrooms on third floor. Very large hot-water heating plant, Pittsburg hot-water heater, foilet in cellar. Come out Sunday and inspect a real home. Stone & Fairfax 1342 New York Ave. Phone Main 2424 LT TR T L FOR A BUYER WITH $5OQ /Cash— Balance Like Rent A Good Home! i Sample House 632 D St. S.E. Open Sunday From 2 to 6 P.M. 1410 H ST. N.W. Maryland Building Main 727 8 SOLD Jameson-Built Homes 231 to 255 EleventhSt.S.E. Only two squares from beautiful Lincoln Park. Six large rooms, tile bath, H.-WH, electric lights, double hardwood floors, large closet in each- room, built-in ice box, wash trays, servant’s toilet, double rear porch, wide cement front porch and other extras. Open for Inspection Daily and Sunday For Sale By ) ) 7. 2222 2. 22 0, 7, OWNER AND BUILDER 906 New York Ave. N.W. Main 5526 ASK THE MAN WHO OWNS ONE WY 72 Z Beautiful New Home INSPECT SUNDAY—OPEN 27 ey 1224 Decatur St. NW. SAUL’S ADDITION Spacious detached home, with 8 rooms and 2 baths; hot- water®heat ; electric lights; hardwood floors; attic. Lot 40x145. Garage N. L. SANSBURY CO., INC. “Everything in Real Estate” 1418 Eye St. N.W. Phone Main 590 Mcmbers Washington Real Estate Board , SATURDAY, JUNE 23, 1923. ASHTO HEIGHTS VA. 7 7 7% 7 % , electric range and water heater, large front and sleeping porch, built-in garage. Cement REAL ESTATE. TODAY Ashton Heights repres ] sents the most rapid suburban de- velopment that has ever been witnessed in the environs of Wash- ington. The reasons for its popu- larity with discriminating home buyers are found in its wealth of EXCLUSIVE features not to be found elsewhere. 2/ minutes from 12th and Pennsylvania Avenue; 3 miles from White House. Our streets are graded and cindered, as also are the curving drives which have large entrance columns. Sidewalks, sewer, gas, elec- tricity, Street lights and telephones installed; community tennis courts; a splendid live-wire Citizens’ Association organized—all this has occurred within the brief span of two years. Ashton Heights is named for the owner of the original tract of land— Mr. Ashton C. Jones—for whom we are exclusive agents. Come out today and select your lot. NOW is the ideal time to build in ASHTON HEIGHTS. LOTS ALL SIZES—12 AND 14 CENTS PER SQ. FT. Our prices are still DEVELOPMENT PRICES. How to Reach Ashton Heights Take bus at 36th and M Streets, marked “ASHTON HEIGHTS” and get off on our property. %ake trolley at Mount Vernon Station, 12th and Pa. Ave., Falls Church Branch, get off at Clarendon Station, walk south on Claren- don Ave. to our sign. o auto, cross new KEY Bridge at 36th and M, take SECOND = = Puip Your L on Clarendon Ave. to our office, corner of Cathcart Road and Clar- endon Ave. Our salesmen are on the property all day SUNDAY, or visit our office, or call us for an appointment any hour of the week day. o KAY-ALGER CO., INC. 617 Bond Bldg. F. M. Kay, Pres. & Mgr. Main 3075 By TURN TO RIGHT, out Wilson Blvd. to Clarendon Ave,, then south s’ Home Values Without Competition Many Sold Before Brick Work Completed —Now, Nearly All Sold This is the Iast opportunity you will have to secure such a house in such a location at this price. Third Street—Near Varnum Hot-Water Heat Tiled Bath . Laundry Tubs Electric Lights Large Porches Open and Lighted Daily and Sunday Until 9 P.M. Take “Grant Circle Bus” or 9th St. Car Marked “Soldiers’ Home” D. J. DUNIGAN 1321 New York Ave. NW. Phone Main 1267 Six Rooms SOUTH WOODSIDE - SILVER SPRING Just Beyond the District Line on Georgia Avenue Extended Tapestry-Brick-Over-Tile Bungalow Five rooms and bath, with large atiic. Hot-water heat, oak floors, open fireplace, sidewalk; improved street. Lot 50x150 feet. Shade and fruit trees. SMALL CASH AND MONTHLY PAYMENTS Salesman on Property - NORTH WASHINGTON REALTY (CO. ——Incorp orated— Washington Office: Silver Spring Office: - P.?.l‘:’i"‘..'i“:fi!.‘i".‘:f,"'w' Phone Columbia 9821 E. BROOKE LEE B. HOUSTON McCENEY President Sales Manager P. BLAIR LEE Vice President