Evening Star Newspaper, September 22, 1923, Page 17

00000 000 A 'REAL ESTATE. Home Ownership byflmilies In D. C. Increases 6.1 Perl Cent Manual on “How to Own Your Own Home,” Just Issued; Gives Infor- mation on Loans, Eic. Home ownership among families | part in local government. ‘Above all, living in the ‘National Capitol in- | the love s fa otie of R L = stincts and ea spira- creased 6.1 per cent in the period | tions of our.peepies. ot Of Inspira from 1900 to 1920, according to “How | The guide book offers a wide range to Own Your Home,” a manual just|Of information useful to the prospee- bilheiat \le by the division | ive homeseeker. It is explained that issued for the public by the division |«if'a cartaln family pays a sixth .of its of, building and housing of the De- |income for rent it may be able to de- e o ce. The manual, | YOte one-fourth or more to buying DTy e o ommier SR and maintaining a house, for the with a foreword by Secretary of COm- | amount' thus used may. inélude both merce Herbert Hoover, contains au- | rent ar;‘d savings. Rent, or nnym‘rnls thentic information concerning steps|gh & home, may require anywhere 4 from' one-eigh -third he taken in the acquisition of property, att oons atare such as the making of loans, selection | clal circumstances in each case.” of the house site, choosing of build- Home Owning Encotiraged. ing plans and materials and the coSt{ Home owning is encouraged in this of home maintenance. vein By the compilelggof the guide i el e bog! fost men and women who buy " % @ house have never done it before, “How to Own Your Home." which |and are usually unskilled, as.people was prepared by John M. Gries and |generally are, in the things they do James S. Taylor of the Department|but once or twice in a lifetime. But of Commerce, presents figures to show | lack of experience should deter mno that the pe: ge of Washington |one.” hom, rose from 24.2.in 1900 | “The prospective home owner who to 25.2 in 1910 and jumped to 30.3 in|uses his common sense in considering 20. The manual can be procured for | the real needs of his family and the gents from the superintendent of |ability to pay, and who cks his documents, this eity. Sending a nickel [own judgment by consulting experi- by mail with one's address is all that | enced persons, m head with 1s_required. full confidence. d Mot be Business groups are looking at the | frightened by the mistakes of heed home-owning proposition in a new {less persons who have been carried and more favorable light, Secretary |away by some novel feature and Hoover states in the foreword to the | coaxed into.a bad bargain. or who little government manual. He says: {have tried to buy beyond their means “They see that taking a meighborly | While some risks are involved, as is interest in developing sound financing | Usually the case in obtaining dn and other machinery for the of | thing worth while, the danger of f homeseekers and nsisting on the ob- [ Ure Is relatively small when weighed servance of honest, straightforward |A8ainst the advantages of an owned methods by thoses who deal with |home. family income, depending on the spe- | THE EVENING STAR, WASHINGTON, D. C, SATURDAY, SEPTEMBER 22, 1923. REAL ESTATE. = o i e e INLONGER SEASON} Idle Period Hurts Labor and Increases Overhead Expenses. Reduction of building costs by means of a longer building season is the ob- Ject of a nhtional movement just inau- gurated by the Assoclated General Con- tractors of America, A committee of this association, which has just com- pleted a study of the construction in- dustry, reports that one of the most important elements of waste in the in- dustry is the present short construction scason. It is pointed out in the report that in the latitude of Louisville and St. Louis the ‘present active season is approki- mately six months. 1f in that latitude the season could be extended to eight months, that alone would increase the season one-third, thereby helping to re- duce building costs. The report con- iues: “Seasonal idleness always costs money in accumulated -overhead charges, inefficient iabor and inereased plant rental.” Winter Discounts. In order practically to present the merifs of early lettings of winter con- struction, the committee suggests that the entire construction industry offers what, for want of a better name, will be known as winter discounts. The i may, should start with the men cutting the timber, mining the ore or digging the clay, ' and should follow down |be possible to soothe the frigid ter- BUT BUI[D'NGE—US—T—!——mS BUILDING Used for Speculative Profits—Huge Sums Wasted on Temporary Purchases.: BY ROGER W, BABSON. |finance the venture. Dut the man withi Bpectil Dispateh to. The Bla¥. oupk bank gcount canmot | - i - L ary FIL herefore, ay t a bank ac= WELLESLEY HILLS, Mass., Sept. | Therefore. I say that o bask g6 22.—Why is it that people différen- | pocylative profit hecause it puts ome tiate between bank accounts #nd in- n a pos tion ‘xo ml.;k,- a big profit Z can com- | When the opportunity comes. prehend. Apparently men and WOMCH | of hank accounts at the present time feel that the money which they haved ) .cquse many people have not increaseg in. the bank fs not “invested." TRV | (oir bhank accounts materially -sines seem to think of it as tied up fin| o low prices of ten years ago. For=s bags in the vault of the bank. ‘The |, Ieel of SO0 BEErs S8C, JOEg fact is that ji#st as soon as vou €6 | certain level and people got into @he posit a dollar in the bank. that dojlar | poTaIn level und people got into @8 is joaned by the bank to some 'mfl_‘" | their _sav account and a certafs build a home, or to buy merchandise, | ;mount their checking account. Al or {s used for the purchase of bonds. = |husiness men, from the large manufdts When these bonds are bought, the | . to the humblest retailers, feit money is still. used by.the comDany | thut « bank aacount of a certain size issuing the bonds—perhaps for the | wug ahout what be should carry and Be developing of a water power or the'lhag held the same jdea up to the pref= buying of railroad equipment or some [ent. tir Yet; * duripg the past; t&h other equally useful purpose. There-|years, prices have increased from 50 to fore, money deposited in a bank §s1100 or more per cent, according to ths invested just as truly as any other | commodity considered 8 money. The main difference is that ‘Taking into consideration all factqlE it is invested by some ome with ex- | entering into the cost of living, the perlence and training instead of by | dollar of ten years ago is worth of one who may know little of financial |about sixty cents today. As prices fBe S attery crease we should increase our bank ad= Bank accounts have all the ad counts to correspond A = tages of the-most attractive inv We take out increased insurance o= ments. Among these may be men-|day on a building which was built ten tioned the following threc: (1) Bank | Years ago, even though it.was then fme R erie o%0, hafes) Statiit E all it cost. The fact is that probably show that smal b e cost of building has gone up andzi D uns from bani accounts:then had a fire we would have to rebubid other fleld of investment. (2) Bank |at much higher prices. Therefore, W& 2ccounts are very liquid—that i nsure ot on the basis of the cost of Bav e can quickly get our money at | ten years ago but on the basis of fo= Building Constructed by Shannon & Luchs, at 1113-1115 15th street northwest, for the Washington School of | any time. Other forms of investment | Dlace s of today. It'seems to ma amount of this discount, be what it|Art, Inc., and the Washington School of Cartooning. It was especinlly designed for sChool purposes. may be “permanent” investments. |that we should follow the same prift b s kot ot Bttt Sl ettt Bt stk vt s T any. g s hat | ciple regarding our bank account Many of them are so permanent that | U FoE oy S e Sasinces tog they cannot bo Hauldated W v s |aay is"the amount of money . being . . > wasted on things of only temporary i = through the manufacturing concerns, | rors by means of artificial heat and Rood opportunity for speculative [ WA rEd L oan 22 homeseekers'is not patersialism, but |\ 1% 15 explained that the amount that} ¢y OUE 11Ut 0 " rotall - deateth,. desigh” | sonple covering, it will roquire an ed: ugus uldain. aSSes t. “'This may scem a strange|VYAlue and the small proportionats oot business ant pacarnatism. Ut ! can be paid for a house depends part: | : . design- | amp & ot i e K oy 1y on what interest rates are charged :f.,,‘;, s Vs duar and It 1s not| for the money horrowed to make the cardn GEOHIT R e e :’;M‘“l‘l purchase and the rate at which the ThE B ndt st | principal is to be paid off. Banix of Social System, Borrowing No Disgrace, “Maintaining & high percentage of | Treating the financial aspect of the tndividual home owners 1o ane of the | home-buying proposition, the booklet searching tests that now challenge |declares that “Borrowing money to the people of the United States See. |Puy a home i no disgrace. On the retary Hoover points out. ~Thé pree. | CORtrary, it is normal and in many ent large proportion of families that|Ways desirable. Many families in tion of a sound economic and social | learned the habit of saving and have svstem and a guarantee that our so- | continued it as a step toward finan- ciety will continue to develop ration- | €12l independence. % ally as changing conditions demand A first mortgage up to 50 or 60 ¥Buying or building a fome ri per cent of the value of a house Quires the use of sound judgment in|30d lot considered ' one “of the seeing that the personal needs of the | Safest possible investments, and it family are best met with the funds |Should be easy to obtain such a loan | available,” Mr. Hoover says in. the | {fom abuilding and loan association, foreword. “It involves not only the |Savings bank, insurance company, carrying on of transactions of financ- | trust company or from some indi- ing and buying or building but it|Vidual—perhaps the seller of -the involves the proper determination: of | BOUSe.~ < location with respect to school. to Building and loan associations work and to neighborhood NI AnpmanyChses, Pro¥e) (bt Roat Lo . means of financing @ home, for they 3 Auto’s Effect R are often able to loan as much as 70 to Secretary Hoover states that the | S0 per cent of the real value of a hom automobile has given a “great im- | which is generally above the limit pulse te suburban life and an in- | lowed by law for avings banks and in- creasing possibility of home owner-|surance companies. Such a loan, ship.” | therefore, may avoid the added com- vA family that owns its own home | pHecations, ~disadvantages wnd ex- takes pride in it, maintains it bet- | penses that may be involved in case ter, gets more pleasure out of it, and { both a first and second mortgage has & more wholesome, healthful and jare required. Building and loan as- happy atmosphere in which to bring |sociations are often especially help- up children. The home owner has|ful in providing means of financing & constructive aim in life. He works | during the construction of a new harder outside his home, he spends |home. They are usually organized his leisure hours more profitably and | with the chief aim of assisting home he and his family live a finer 1#fe and | buyers and home builders. Their enjoy more of the comforts and culti- | system of selling shares on which vating influences of our modern civil- | payments must be made weekly or ization. A husband and wife who[monthly has proved an invaluable own their own home are more apt to ('aid to hundreds of thousands of fu- save. They have an interest in the |ture home buyers in ccumulating advancement of a social eystem that(savings and furnishes ‘@ sound’and- permits the individual to'store up|helpful séhélie for paying off the th fruits of his labor, As direct | principal of loans. taxpayers they take a more active General property considerations are 1l = Situated, as it is, on what is considered one of thre' most att: vately built for the owner, contains 10 rooms and 3 baths. A Picturesque Home of Unusual Charm In Washington’s Most Exclusive Suburb Just 1, Square ‘East of Connecticut Avenue Near Fashionable Chevy Chase Club groups adds its mite to the total ¢he whole winter discount, in the opinion of the committee, would be very mate- with excellent results, and there is equally good reason for its applica- construction and building operations of the committee, is the greatest ob- | stacle to be overcome -in lengthening place of work, character of neighborhood restrictions and location with reference to schools and playgrounds for the children, should be taken into consideration. Other danger in buying a lot too long be- fore building; extent of street and public_utility 'improvements, such as paving, sidewalks, water supply, sew- erage, eclectricity’ and gas: possible assessments; proportion of lot value to total outiay: examination of title and other similar matters. It is suggested that If a city is zoned it is almost always safest to {buy in a residential district where tories, public¢ Tarages and scattered it is explained that private restric- ers, constfuctors; transportation com-|ucational movement to change cus- panies and labor. If each of these|tom. The lengthening of the construction rial and would offer a substantial und [ $eason, the comymittee believes, will| tangible reason .for owners authorizing | b¢ L their work to proceed during the win- | Cértain manufacturers —who . cannot = S areless, bank deposits fe o “Uitvork awarded In the fall benefite | Standardization of types, sizes and|puilding statistics for August show a | southern states, central western states o threa times in the course of .our |Sareless, bank deposits fell off ung all!” is a slogan suggested by the com- | dimentions will also go & long way t0-| .\ iy permits issued, which in-|and Pacific coast- states more than !jjyes. They almost always require e E offsetting decreases in New England, | a3 certain amount '); A'.H;II; 1"-(7.;]:51 . the middle Atlantic states and the |th ew position offered means work- ]dustry. It has been recognized by |that designers, in so far as practical 30,374 at leading cities of the | ine middie Atlan a a the new p: |numerous state highway commissions [4nd proper, will be willing to fore€0|1;niieq States. This is the heaviest| At many of e P el mameatacturara o ext | amount reported to Dun's. Review |New York there is a larger volume | year or more fc vel or 5tudy. | fusiness sod fnancial conditions 1n eit Sew goods. Steel manufacturers, for e of new building planned for than was | The man with a bank account can |urday's Star.) the case last year. This is true at one of the greatest assistance to mittee which might be regarded with| ward alleviating material congestion, . e cof ce expresses the wish | volved an estimated expenditure of own' their homes is both the founda- | eeting payments on a loan havefavor by the entire construction in-|2nd the committee expresses tion to .other public works, railroad )ample, and various sash and door since last May, and shows an increase u)rh-ls hu;‘e ‘prnzfuaa s"azr-‘ ed ""XQ*; of 13.9 per cent over the.total for Au- | Hartford, Conn. . it % | number of standard patterns in orde e Y.; Newark, N Custom. not climate. in the opinion | RNy & O o N Coperation of their | Eust, 1932, The larger aggregate last T atimors, e plants and permit prompt delivery of {month was mainly due to expansion | P 2o Nagivitie, Now, Orfeans, Lit- M e h tt the building season, and while it may | OT4€rs. in Gregter New York. where the per- | Paul. The decrease that appears for assacnusetts e AN e £47,920,568—exceeded - thase of | some sectlons in the comparison with struction season, many contractors|August. a vear ago, by 56.4 per cent. | August of last year is in some in- | dealt with extensively in “How to|Would be justified.in investing more|yhile the boroughs of Queens and |stances due to exceptionally large el e i of their capital in power equipment.|Richmond showed only slight gains,|operations for which the plans were Pa‘-k = o e s pointed out|jf, for example, a contractor's equip-|there was-an increase of 139.0 per |filed in the latter month, this being that. in making sure that a satisfac- [ment cost $100,000, and the cost is 4| tory house is being acquired, certain | Per With the assurancedf a longer con- | mits equipment is $200 per working day a1 Lengthening the construction season | New York city will go a long way toward reducing |pousrer® 64120848 e c: 5 such costs. | Western 3 4,405,149 factors listed -have to do with the Concluding, the report points out|pacific ... . 815,550 that ¥ quantity of construction by a fixed| Total ....co..o number of men working certain hours per day it will mean increasing the |January length of the season in order to ac complish this result. has stores. If there are no zoning, laws | vice tions should be given careful atten- | Cooney succeeds E. S. Carey of Provi- tion dence, 1 e amount w is being ‘“‘banked” for things of more permanent value. This is one reason why the Babsonchart statement but let us examine it. The T opportunities to make ; "are through chances that Lengthening of Seasom. money are through char e s.again so radically declined, stand- eCO () On aS ear Sty parenaser or 40 do. ‘other | & today at 10 per cent below normal, )} o chases -or to othe {cent in the Bronx, 100.9 per cent in|noticeably true in the case of Boston x;;m a mnngn‘ based unh(’l‘;h‘:‘lh‘unld_\x\ and 34.4 per cent in Man- |In the accompanying tables compari- . 3 # months’ use, or $4.000 a month, and | hattan. son of new building permits is made such as transportation facil | (he actual operation is twenty work- | 21 1922, for recent months; also, for a number ing | compared ‘with 9 per cent above nere things, which, if undertaken, often |ComPpared with 9 per cent above nor : °l} | mal in February. bring” success. One never can tell| “jug 4 things got better aroumd sily produce in advance of orders.| After several months of decrease, last year by 5.2 per cént, gains in the | when these opportunities Will come | i fret of the year, people again got but they do come to each of us.two steam. Increased bank balances | would help start business up toward normal again. ing for less than a living wage for a | "Oni™ guion. the noted statistician and the cities outside of | while. Perhaps it means taking a | sconomist, will continue his special articles om also_at Rochester, N. J.; Baltimore, Mém- Washington’s most exclusive residential section of detach=] days per month, the cosi of the|New England - $13.106.768 | of Jeading cities: ed homes. Containing”seven million feet of forest-covered land, Middle_ Atlant 936,900 . 8494 outhern ...t p 15,203, in order to secure a greater n Ty | March . First quarter COQNEY IS PROMOTED. ~ |iiiy'.. F. Cooney, president of lh‘:"uu i 4 B “ALTonmSPECIAL HST . S 0 | there is safety from intrusion by fac- | Bridgeport, Coniy, Beal Estate Board,| -Second guarter ¥05992.708 | Special listing in the telephpne M ddaugh & qh 13% ln = been appointed New Hngh«nd!Ju!y A 5 $188.153,135 | directory under {he head “realtor,” is X SNanno; 'y Cs k . 205,230,374 | & reeent recognition reported to the iR o atioh of Real Estate Boards. Mr.| Outside o City the Au- | National Association of Real Lstate Woodward Building, 15th and H Sts. Ip: total of $157,309,806 surpassed | Bourds by the Atlantic City Real Established 1899 president of the National Asso- | August the amount for the same month of | Estate Board with six miles of improved streets. Includes what remains of “The Triangle of increasing Values”’ between Connecticut, Massachusetts and Cathedral avenues (Woodley Rd.). Over five million feet.of land sold. Overs 2 130 homes from $15,000 to $200,000 built and under con- 378,312,394 struction. Wooded villa sites, lots and central and side hall b brick homes, with lots from 50 to 115 feet front—Park Office, 32d and Cathedral Ave. (Woodley Rd.). 3 Hllflflfl"lfifl]flmlflflflflflflllflflflllfllIIIlI!IHIl(llltRHIH!IM!IIIlMflflHflUflHfllfilfllfilfl!flMflMMflWMflfllflflMflWflflflMflflflflflflMflllllmIl||I[IIIIIIIIHHIIHIWWMMWWMWWMMMMHWMW% ES Three Attractive, Splendidly Built Homes OF PRE-WAR CONSTRUCTION, IDEALLY LOCATED A Thorough Inspection of Them Will Convince You of Their Real Worth Salesmen on Premises Tomorrow From 1 P.M. to 6 P.M. No. 12 Quinf.:y Street, Chevy Chase, Maryland Large Lot, 135 Ft. Front by 125 Ft. Depth ractive streets in Chevy Chase, this-delightful residence, which is of the center-hall entrance ‘type, will make an ideal home for.the most discriminating family. This property, which was pri- ¥ Among 'the many special _ features it has large front, back and sleeping porches, laundry and two garages, fruit and shade trees. andl vegetable garden. The house is scréened throughout and there are awnings, also Pittsburgh heater, large open fireplaces and many features that -must be seen to be appreciated. The trees and shrubbery surrounding this house are mag- nificent and form a perfect setting. 1731 K St. N.W. List Your Property With Us for Sale T . A Massachusetts Avenue at Dupont Circle Charming Residence on Fashionable 1822 Massachusetts Avenue Having a 30-Foot Frontage This strictly modern residence, which is lo- cated among Washing- ton’s most palatial homes, has just been completely remodeled and’renovated throughout and contains every modern conven- ience and comfort. This Home is Very Rea- sonably Priced and the Owner Will Consider en Exchange for Other Property. Description: First Floor: Reception Hall, . Drawing Room, Library, Dining Room, Butler’s' Pantry. Second Floor: Three Master Chambers, ' Two Baths. Third Floor: Three Mas- ter Chambers, Two Baths, Large Linen Room. Fourth Floor: Two Serv- ants’ Rooms, Bath. Base- ment : Tiled Kitchen, Laundry, Large Furnace . Room, 4 Member Washington Real Estate Board “Specializing Exclusively in the Sale of Northwest City and Suburban Properties” This Charming Hollow-Tile Home Just 115, Squares West of Connecticut Avenue in Beautiful Chevy Chase, Md. This residence should be of special interest to members of the Columbia and Chevy Chase Clubs, as it is situated about midway betw:en the two. s s No. 110 Leland Street. Large Lot, 75x128 Feet There is no home in the suburbs t will compare with this house for the price. It is of the center hall entrance type and contains 10 rooms, 3. baths, extra lavafory and toilet, glass-inclosed sleeping room. Among the many attractive features is a large covered front porch, beautiful red tile roof.. an unusually large living room with open fireplace, vacuum vapor heat, Pittsburg instantaneous heater, laundry roam, built-in garage for 2 cars and gymnasium equipment in rear yard for children, Beauti- ful ‘shrubbery and flowers, The interior trim of this house is white and mahogany. and the owner has recently spent a considerable sum of money inm making extensive improvements. An unusual feature is that it is possible to have an entire living apart- ment, including kitchen, on the 3d floor, for the occupancy of,two families, if it is so desired. Don’t fail to see this home, as it contains many features too numerous to mention in this ad. - Salesman at this Home Sunday, 9 ‘AM. to 6 P.M. : . Phone Main 4080 “Let Us Know Your Requirements”