Evening Star Newspaper, June 23, 1923, Page 19

L In 191 REAL 2FACTORS DRI | AMDUNT O RN Scarcity and Cost of Building f Determine Price to F Tenants. For the man who rents his home, a study just made of the effect of the housing shortage on rental prices discloses some unusually interesting information. The work was done by the Associated General Contractors which assembled its data from a num- ber of different sources. Two main causes enter into the price of rentals. The first is the gen- eral cost of construction of homes or spartments, and the second is the general situation regarding shortage of space. It is pointed out that in S0 far as the price of rents is due 10 high building costs, the renter may expect no relief for some time to come. As it is affected by the housing short- age a reduction in rents may be ex- Dected as soon as there is more housing avallable than there are tenants. Factors Interwoven. These two factors are closely in- terwoven. The builder erecting an apartment house today bases his rents, naturally, on the cost of con- struction, and assuming that he places his rents on a basis that will give him a fair return on his investment, he is naturally reluctant to cut rent- als even when there is more housing space than is needed. The man who is renting, but who plans to build for himself a residence, will pay higher rental without protest when building prices remain o high that he feels he cannot afford to build. The relation between bullding costs and rentals is shown by the study. which covers, first, the effect on house rent of the prevailing scar- city of dwellings, coupled with the great increase in building costs; sec- ond, the degree to which the housing shortage has been alleviated through increased expenditures in building within recent months; and, third, the underlying causes ich’ more re- gently have begun to slow up build- ng. 1 Prices Up 100 Per Cent. Latest figures on building prices, as given out by government agencies, show that building materials are | jnore than 100 per cent higher than Rental prices for the country gen- erally had risen in the same period until they had attained an increase of 70 per cent, an increase over the same time last vear of 3 per cent. Naturally rents are affected by many circumstances such as long-term con- blished customs and legis- d thus rental fuc- s sharply defined . However, in rental prices have gone steadily upward. with the exception that they fell slightly in 1821 and again in 1922, moving down in the summer and up in the fall The price of rents today is just about where it was in the early spring of 1921, while building prices, after reaching a peak in the spring of 1920, have declined sharply only to start rising again this spring. Two Years Behind. The degree to which the housing shortage has been _alleviated. as shown in the study. is given as suf- ficient to put the housing needed by the country at present at more than the period since 3 two yvears behind. Contracts awarded on all construction projects in the first four months of 1922 totaled . ‘and in 1923 00, an_increase This enormous increase in building work is given as the chief cause for increased ma- | terial costs this year. Contra for residential building awarded i twenty-seven northeastern states dur- | ing the first four months of the year | amounted to 43,000, as against 35,000 last vear in the same period. | The fundamental causes of the in- crease in building costs Is given in | the study, due to the general increase | in prices of all kinds, control of out put_and distribution’ of commoditie: used in building and curtailment o production in central Europe. Erime T e After drifting for twelve months, a whistling which broke loose gs in American waters has washed ashore on the Bellly Islands Inspect W ESTATE. & REAL ESTATE SALE AGGREGATE $250,000 Bauman and Heinzmen Report Many Transactions for Past Week. Sales aggregating $250,000 were re- ported today by Bauman & Heinz- man. They include twenty-two busi- ness and residence properties being £old through this office during the past week. The list follows: Two business properties at 711 and 713 1 street northwest were sold for the Herman estate to Joseph Guiff- rida. It is understood that the pur- chaser intends to erect a modern bus- iness bullding on the site. The business property at 1300 Flor- ida avenue northwest was sold for Samuel Rappaport to Joseph N. Nill- son who expects to hold it as an in- vestment. The property is situated on a corner and contalns a store with apartments above. he premises at 613 6th street northwest, a large four-story brick bullding with sixteen rooms, was sold for Emmett Beach to Nathan Sha- piro. The purchaser will occupy the property. A large brick building at 1108 M street northwest, formerly used by the Y. W. C. A., was sold for W. B. Hibbs to a 1 nvestor. The prop- erty will be remodeled and held as an investment. A six-room _semi-detached brick home at 1515 Carolina street north- west was sold for Willlam G. Hinger to Mary B. Houk. A corner home at 5401 Illinols ave. nue northwest, containing seve Tooms and bath. was sold for James B. Duncan to Carl W. Heinzman. It will be held as an investment. A corner home at the southwest corner of 9th and Farragut streets was sold_for the Samuel Shapiro Com- pany to C. B. Kenny. 1t will be occupled BY"the purchaser as @ home. A four-story brick home at 512 5th street northwest was sold for Wilber F. Nash. This property fs lo- cated in the business zone. A new home at 4506 Illinois avenue northwest_was sold for Marcellus Heflin to Minerva Kelly. There are six rooms and bath and garage. The purchaser will occupy it as a home. No. 5532 14th street northwe: o sold for A. J. Dawson to a lo vestor. There are seven room bath. A new corner home recently com- it as a home. The property is lo- cated at the southeast corner of Ar- kansas avenue and Buchanan street. There are eight rooms, bath and built arage. I et on Porter street west of Con- necticut avenue was sold to Charles Harrel. No. 922 Farragut street northwest was sold for Samuel Shapiro Compan to_Sherman_Shelton. T Bungalows in West Chevy Chase Heights —on main Rockville Pike, two blocks above Bank of Bethesda—just completed and offered— At Builder’s Cost Home values worthy of your prompt investiga- tion. QBUILDING LOTS in this select development at Attractive Prices. &7 Representative always on property. Thomas Hampton 710 14th St. Ph. Fr. 5394 LT T T (I Sunday Detached Homes Georgia Ave. and Fern Street $10,500 $11,000 Very Easy Terms Avoid the Heat of Washingt on Three Hundred Feet Above Downtown A Cool Summer Insured Possession With the Deposit This group of Beautiful Detached Homes, located on both Georgia Avenue and on Fern Street, is of six and seven rooms and bath, ranging in style from the semi- bungalow to the Dutch colonial home. From the center hall plan to the living room across the entire width of the house, 25 feet. Any one of these homes, with its large rooms and modern conveniences, will delight any one seeking a suburban home, yet one within 30 minutes’ ride of 14th and G Streets and within 3 blocks of schools, stores and churches. Take 9th St. car marked “Georgia Avenue and Alaska Avenue” or “Forest Glen” to Fern Street, or drive out 16th Street to Alaska Avenue, out Alaska Avenue to Fern Street, then east on Fern Street to properties. Salesman on Premises Sunday, 10AM.t08P.M. The Realty & ln_vesftment Corporation Wasl:'ngton . Main 2908 NS 1 THE EVENING STAR, WASHINGTON. D. semi-detached six-room home. A new home at 2048 Wisconsin ave- nue northwest was sold for M. G. Lipley to Philip G. Walker. This is one of a group of new houses recent- ly completed. No. 1326 Buchanan street north- west was sold for L. C. Disner to Mrs. Margaret M. Hammond. This is & new modern eight-room home. Several lots on Spring Place west of 14th strect were sold for R. B. Brown and Roy Hughes to Winfleld Preston. It is understood that the property will be improved by homes. No. 5417 7th street northwest was sold for the Winkleman estate to Joseph Zimmerman. This is a modern six-room home and will be occupled by the purchaser. Nos. 4523 and 4525 Arkansas ave- nue northwest were sold for D. J. Partelio to J. Goldstein and A. Has- sen. These are two new homes re- cently completed by Mr. Partello. The firm also reports the sale of lots at Cedarhurst-on-the-Bay, a sum- Scott, A. L. _Ames, Lieut. Baker and Lilllan Beard. NEW SMITH BUILDING WILL OPEN MONDAY & 1 The new building of the F. H. Smith | Company, to be known as the Smith bullding, 815 15th street northwest, has been completed and the company | announces that it will move into it on Monday. It is located on tho site | which the company occupied for years. | The building is a ten-story steel- | frame building covering an area of 00 square feet. in outside walls are qQf buff Indiana limestone mounted by highly ornamented cor- nice. The first floor front consists of a four-column portico with a Roman vase at the top of each column. There are high arched windows on the front and side with ornamented iron frames. The F. H. Smith Com- pany will occupy the first floor, mez- zanine, second floor and basement of the bullding. On the first floor will be located the investment banking rooms and executive offices of the company. The clerical offices are on the mezzanine and second floor. The investment banking room is designed in Italian Renalssance. The floor is of marble and the walls of marble finish with decorative panels. On ket [l l A Beautitul Location | r_ner (‘Oln"y subdivision, lflt‘l(eL'l near | i pdeginee ity @ 3014 Park Place Northwest B Facing Soldiers’ Home Park A delightful home, containing six rcoms and bath. All modern and in excellent condition. Possession Price, $8,500-—~Terms Open All Day Sunday For Your Inspection L. E. Breuninger & Sons Main 6140 ——o|le—=sjolc—=ja]l—=fo]——X C., the second floor of the building is a large conference room. In the bat ment is a large vault for the safe. keeping of securities and valuable records. S e ‘WINS HISTORY ESSAY PRIZE. Cadet Private George O. Van Orden, a student at St. John's School in Manilus, N. Y., and son of Col. George Van Orden, U. §. M. C., stationed at Washington, was awarded the faculty military history gold medal for sub- mitting the best essay on subjects, dealing with American military his- tory. Van Orden wrote on “The Cam- paign of Santlago. At Once 706 Colorado Bldg. SOUTH WOODSIDE ... SILVER SPRING Just Beyond the District Line on Georgia Avenue Extended Detached Two-Story Tapest Seven rooms, two baths, hot-water heat, oak floors, open fireplaces; living room, 28 ft. by 14 ft. Spacious front and sleeping porches. Electric range and hot-water heater. Built-in garage; large lot, 50x150 ft.; shade trees; cement sidewalk; improved roads. PRICES, $10,500 and $10,750 SMALL CASH AND MONTHLY PAYMENTS Salesman on Prcperty All Day Sunday NORTH WASHINGTON REALTY CO. Washington Office 1653 Pennsylvania Avenue N.W. Phones Main 6152, Mal E. BROOKE LEE, President. BEAUTIFULLY SITUATED IN CHEVY CHASE, MARYLAND ONLY TWO LEFT 16 and 18 OXFORD ST. Inspection Invited Any Afternoon as Well as Any Time Sunday These Attractive Homes are completely detached and well placed on Terraced lots, 60x125 feet. Oxford Street is immediately in front of the exclusive Chevy Chase Club—and there are Churches, Schools and Stores easily available. ——Incorporated—— Silver in 9716 B. HOUSTON McCENEY, Sales Manager Just over the District Line Colonial type of architecture, with a pleasing variety all the Homes slightly different. to the charm of the property. Living rooms are 14 feet wide by 20 feet long, with attractive open fireplace; dining room is 14x17. and kitchen is a good'sized breakfast room containing built-in dresser and breakfast room furniture. with special equipment, which adds to_the general attractiveness Other features of the first floor are a toilet and of the house. lavatory and On the second floor are four large bedrooms, three of them being practically 14 feet square and one containing open fire- good-sized closets and two linen A completely finished sleeping porch, contain- ing eight windows, adds to the roominess of the second floor. place; two complete baths; closets in the Extremely a large cloak closet. hall. V. T. H. Bien, Builder e ry Brick Phone Columbia 9821 Construction beyond criticism. Large trees add Between the dining room Houses Spring Office: P. BLAIR LEE, Vice President. - y s N of interpretation, to make large kitchen SATURDAY, JUNE 23, 1923. s .Specially Designed and Constructed for Those Who Desire Something Different . Near 14th St. Car Line Your Last Opportunity to Secure a House of This Character in This Location Six Large Outside Rooms Two Complete Baths Built-In Garage Extra Large Porches VR DUNIGA VT P 5407 13th St. N.W. (Sample House) Take Any 14th Street or 9th Street Car Open and Lighted Daily Until 9 P.M. D. J. Dunigan 1321 New York Ave. NW. Phone Main 1267 Mammouth Qak Gardens —offer an environment that is without coun- terpart in Apartment living —and are ready for your inspection and reservation 1609-1611 Thirty-first St. —in the heart of Colonial George- town where still lingers the histori- cal romance of the National Capital Mammouth Oak Gardens are set in the midst of a nat- ural park—which the skill of the gardener and the fancy of the landscape artist have perpetuated around the Mammouth Oak from which comes the name. It majestically spreads its huge branches —-fifty feet in span—like a canopy over the peaceful walks and lawns—temper- ing the heat of summer into the balmy temperature of your favorite resort. Mak- ing every day a vacation day—and at night wafting the pleasant zephyrs that woo to healthful sleep. The Park is exclusively for the tenants of Mam- mouth Oak Gardens—with entrance to the bréad plazas only from the build- ings—upon which the win- dows of your apartment open—presenting always a delightful landscape—and offering a distinct depart- ure from the usual masonry courts around which city apartments are almost of necessity constructed. Here the children may romp and play safely—and healthfully. Sandpiles and Swings are scattered through the rear of the park for their delight; and com- - finedly fortable benches for the grown-ups flank the lawns, that are artistically planted with shrubbery. The Apartments in Mam- mouth Oak Gardens have been thoughtfully designed —and by reason of the re- markable setting, every nook and corner is flooded with daylight —the win- dows look upon a magnifi- cent landscape — with un- obstructed view. They are of practical size — equipped to reduce the task of housekeeping to an insignificant mini- mum—and raise the joy of living to the utmost. True to the Colonial in type—the decorations and finish are richly and re- simple — lending themselves readily for fur- nishing to individual taste. The construction is ours —and has received the care of detail which we exact. The management will re- main with us—insuring satisfactory service. The location is peculiarly convenient — whether you rely upon car lines or your own machine. The former are only far enough re- moved to be free from the noise—and for your auto —garage accommodation is available. * Apartments are being rapidly taken— therefore your early inspection is urged. There’s a Resident Manager in attend- ance who will exhibit the available suites —and make reservations. Or, this may be done by application at our office. Boss and Phelps The Home of Homes 1417 K Street Phone Main 4340