Evening Star Newspaper, March 14, 1925, Page 17

REAL ESTATE. BETTER HOMES PLANS GIVE BUYERS POINTERS ;Dignified American Home Warnings Against Assuming Burdens) Too Heavy Emphasize What Prospec- tive Owners Should Avoid. BY JAMES FORD, Executive Director, Better Homes in Amerlea. ARTICLE VIIL Recognizing the desirability of a larger number of home-owners among the American people, as well as the natural desive of every family to own its home, one of the principal aims of Better Homes in America Is to encour- age the building of suitable, efficient, economical and attractive homes The United States Gevernment has turned the attention of \ts specialists to this subject. How to Own Your Home, pubiished originally by the Department of Commerce, is the work of Dr. John M. Gries, chief of the division of that department, and James S Knowing the need fo tllustrated edition of thi Better Homes in America & slightly revised edition, which is distributed from the national head- quarters of the organization in Wash- ington at cost. Biggest Event for Many. It is a fact that buying or building & home is quite often the largest financial undertaking the lives sof many families. Because of the im- portance of this step and to guard against loss, home-makers have © urged continually by the Fed Government and by Better Homes in America to home ownership caution and common sens It is a fact that many prospective home- owners, by buying mors than they can afford in the way of home, have been unable to meet payments and have lost a considerable amount of the money they have put into their homes. The last Federal census, taken in 1920, showed that the percentage of home-owners in the .United States— at least in the 68 major cities—has slightly but steadily decreased in the two decades preceding this census. The figures for these cities show that the percentage of home ownership in 1920 was 45.6. Ten years earlier it was 45.8, and in 1900 46.1 per cent ©wned their homes. It is impossible to treat the subject exhaustively in the space of this article. However, it may be possible to be of service in pointing out the principal pitfalls and the general con- siderations to be borne in mind in purchasing a hon I shall draw liberally upon Gries' and Taylor's Booklet, How to Own Your Home. Questions to Be (onxidered. The first consideration is, naturally how:much to pay for the home. The head of the family should put these Questions to himself 1. What is the family’s annual in- come, and what will it probably be next year and the year after? 2. Tf bpsiness slackens, is he likely to lose his position or have his earn- ings reduced? 3. Will any one else in the family be able to earn an income? 4. What does the family now pay for rent each year? 5. How much of the income is ing saved? 6. Mow much could the family af- ford to pay out each year for the purchase of a house and for the ex- penses that go with it? It is a great mistake to buy be- yond one’s ability to pay. That may Tesult in the loss of the home or in a most discouraging struggle. The amount that can be paid for a house RESIDENCE PROPERTY SALES ARE ACTIVE \ Firm Reports Aggregate of $134,- 000 for Houses and Lots in Northwest. Taylor. popular booklet. has issued be- Transfers of residential property and lots aggregating $134,000 are re- ported as recent sales by the office of Petty & Petty. Practically all of the lots sold were in the northwest sec- tion of the city. The transfers were given as fol- lows: Bertha Sanford Miller sold 330 Tn- diana avenue, 25-room residence with garage, to Charles L. Sanford. A. C. Robertson Co. represented purchaser. A. N. Wildman sold 1004 K street. * R. K. Humphries represented seller. George F. Petty purchased 421 Sixth street mnortheast, six-room semi-de- tached dwelling, from Frank L. Snow. Joseph A. Petty sold 2120 K street, o local investor; seven-room dwelling @nd first commercial Iot. Henry N. Craven sold 1363 Otis, six- room semi-detached dwelling with two adjoining lots purchased, to James S. Sparks. Edward Kremb sold 723 Morton street, five-room semi-detached frame house, to David Coates, F. M. Feissner purchased 1512 Eighth street, six-room dwelling and garage, from James Murray Clara Cohen Fuld sold 245, 247, 249 W street, five-room bricks, to E. M Rutty. Maple avenue, room detached dwelling, with fourth-acre lot, purchased by B. Israel from Johnson estate. Unimproved lots sold were: Si teenth Street Hills, two lots for W S. Brundage; corner Sixteenth and Van Buren for. Gregory Kessinick; Military road, two lots for Owen Car- ter; Livingston street, Chevy Chase, two lots for Maude E. Burrell; Wood- side Park, one lot to Earl Goodacre. Silver Spring, six- one- Percy Material Prices Lower. The materials necessary for the construction of a six-room house, either of the frame or brick type, cost less at present than they did at season last lear, according to a study made by the Department of Commerce Irving St. N.W. Southern exposure, very pleasing environment and only a short distance from the Na- tional Zoological Park ; compar- atively new and attractive, 2- story, semi-detached, 8-room house; 2 baths, glassed-in sleeping porch, gas, electricity and hot-water heat; lot is 42 ft. front, 110 ft. deep to a 20- ft. alley; one-car garage. $22,500 | Thomas J. Fisher & Co., Inc. 738 15th St. N.W. Main 6830 building and housing of | with | The larger | the depends on the interest rates one can Ret on the unpaid balance of the pur- chase price and the rate at which the principal is to be paid oft. It is al- ways best to allow a margin of safety to meef unexpected drains on the family purse, such as illness. Proportion to Be Pald. If & family pays a sizth of its in- | come for rent, it ma¥ be able to | afford a quarter of its income toward payment for a house. Allowance must be made for repairs and renewals and taxes and insurance, as well as inter- st payments and regular reduction of the principal. The importance of written agree- | ments in rerard to financing, building and purchasing, properly signed by all parties and drawn with careful at- | tention to lezal detail, cannot be too strongly stressed. True, the great majority of individuals and companies with vhom home-seekers deal honest and wish to do business on agreement should die or wish to Te- | move to another city it is important that the obligations of both should have been clearly defined beforehand No good business man can object to having his obligations set down in writing and in accordance with legal procedure. It is usually de least a fifth of the price in cash for a house and the cash payment, the {lower the rate of interest, as a rule, that will be required on the unpaid balance. In rapidiy-growing cities | the risks taken by lenders are not so great, because of the increasing land values, hence the interest rates are likely to be lower. Saving is essential to the prospec- ive home-owner. It is wiser to save with a budget. Carefully consider family’s expenses and determine in what directions economy may be practiced with good results. Form a budget and adhere to it strictly. Bach item should be made to come within the limit set for it. Do not run over one item and try to balance it by skimping another. The budget loser its value if this is done. able to at total purchase Dangerous Speculation. One of the most common which family savings' are lost is through speculation inslots. Buying a lot in an improved section when one ‘is ready to build is far different from buying a lot where streets have not been put through and gas, electric and sewerage improvements have not been made, A purchase of this kind is al- ways a speculation. The outgo in holding this lot is certain: the In- come highly uncertain. Money in a savings account, on the other hand, keeps earning money continually. First mortgages are usually easily obtained when 40 or 50 per cent of the purchase price of a house and lot has been paid In cash. When less is paid down, however, it is often necessary to obtain a second mort- gage. The risk takeniby the lender is great, consequently the interest rate is higher, and sometimes it is necessary to pay a commission or bonus of as high as 10 per cent to obtain a second mortgage Building and loan associations will i many cases prove the best means of financing a home. In some States they are able to loan as high as 70 or 80 per cent of the value of a house, which Is generally above the limit allowed by law for insurance com- panies and savings banis. No matter how little or how much Is borrgwed, it is wise policy to pay off parls of the principal at regular intervals. This brocess, called amor- tization, is recognized as a standard and sound practice. Thus on a loan of $1,000 payments of $10 a month, or $120 a year, would take care of the interest at 6 per cent and pay off the entire principal in less than 12 years. As the payments are met, the interest charges decrease steadily. It has been compared to the efficacy of attacking an army in detail. Second mortgages should be amortized as quickly as possible. ways in are | | that basis, but if either party to the| lot. | For Beauty and Durability Stone Picturesque and Substan- tial, Stucco or Shingles' Less Expensive for This Design. We do not believe a house is satis- factory that is not beautiful, that is not comfortable and that does not |face the great problems of domestic |1abor in America to The man who can do most to solve the servant | problem is the architect. For genera- | tions, even centur in America we | built’ houses to imitate something | that we had seen or of which we had | heara or read about in Rurope. A house was built to prove that the owner and the buflder had traveled |and possessed certain amount of | money. It had no relation to house- work or to the women who were to dedicate and sometimes sacrifice | their lives trying to make it a home, | 1t was planned without the slightest | thought of & one having to live in it | neaa chateau and the manor, all planned Ly foreign architects to be run with horde of servants. The newer gen- tion of women in America want {homes they can ma themselves. |A large numbe: encouraging | number—of intelligent, charming women want homes in which they can do their own housework, homes | so planned that only about 25 or 30 | per cent of their time will be required to put the house in order, to cook and serve the meals, L bit of the ironin To this point the house day is planned. It is defir American house and not imitative of any other national tradition. It has been carefully thought out for the comfort and convenjence of the oc- | cupants. r a wide building plot nothing could be more spacious and hospitable looking than this house, | placed squarely In the center of the grounds, facing road or street How- ever, the plan is nat impossible for a narrow lot, especially on a corner with the sunroom at the front end of the long plot The entrance hall is ote of the best features of the house. The vestibule itself is recessed to provide protection from weather and to gain coat closets. As one enters the front door he has a charming vista through the house to the back garden, where a pergola, sun shown to- Large, sunny rooms, without any waste needed, make this a REALTY LAW UPHELD. Louisiana Supreme Court Holds Licensing Valid. The constitutionality of the Louisi- ana real estate license law is upheld by the Supreme Court of the State in the case of Zeilin vs. the Louisiana Real Estate Board, in which a de cision has just been handed down. A second case, that of Van Der Sluys vs. Finfrock, also involving the question of the constitutionality of the law, Is still before the court. The we are tired of the villa, the | i possibly even do | {dial or bira |&round of green shrubbery make an artistic picture. | The dining room is at the right, | connecting with @ good-sized pantry, from which you walk Into the kitchen, | The kitchen has its own entrance and 0 an entrance to the service porch This corner of the house is most com- fortably planned. It can be shut away completely from the rest of the house, and yet a closet in the kitchen opens |directly into the dining room to save steps for the maid. There is a back nding to the stairway, which takes the mald to her own bedroom and bath on the second floor. The owner's | bedroom, over the living room, |private bath, and there is a third |bath for the two other bedrooms. | There is a linen closet which opens convenfently into the hall between | the two bedrooms upstars, were not needed, the room her would make a flne sewing room or a child's nursery or plavroom: in this event, the bath adjoining this |room” could be omitted, thus lessen- }lr:pi' the cost of the house consider- ably. bath ag would lotted to The attic storage space is sufficient | space; ample closets and three baths, if most livable home, burt has indicated that its decision this case will also uphold the con- stitutionality of the measure. The National Association of Real | Estate Boards appeared in both cases | through its general counsel, Gen. Na- than William MacChesney, and filed briefs in support of the license law. The South Dakota Realty Associa- tion, an organization sald to contain 20 per cent of the State's real estate dealers, has just been organized. John Lockhart, Plerre, has been chosen |president and H. C. Quackenbush, | Plerre, secretary-treasurer. v Street to Utah Street. ABSOLUTE ¥ BARGAIN S. E. Corner Rittenhouse and Utah Streets Chevy Chase Cost of Production, $30,000 Offered at $23,500 for Immediate Sale Ten rooms, two large finished sun parlors, three baths, two-car garage; beautiful spacious lawns. s wHgsAaEE N Enn 8 G GRERBFNCSHRGHE PuRANGEANBERNNE EEAREEISEWERRNONEEES “OPEN SUNDAY, 9 A. M. to 9 P. M. Representative on Premises INSPECT TODAY—Go two blocks east from Chevy Chase Circle on West- ern Avenue to Rittenhouse Street, and four blacks " ZJYIDU SLUADIRO 510 Lafied ™ east on Rittenhouse (€ 0) Evening Fhone Service Until 9 P. M. | dust—Ilikewise the Summer things in has a | If a maid | | built on a level plot. to rid the lower rooms of all unnec- essary furniture, trunks, boxes of quilts, ete. And, if one chose, a cedar- lined closet could be built here to store the Winter things in Summer and keep them free from moths or Winter. Such a closet is a great con- venience, almost & necessity, in every house. Although this house s not espe- that every room is a fair size and the three bedrooms give the required American idea of luxury. Of course, certain variations can be made in the plans of this house, as has been suggested—a sleeping porch over the sunroom, a garage built under the sunroom if your lot hap- | pens to be on a hillside and the lay of the land suggéests such treatment We have even seen this design with a garage made under the sunroom The garage was simply dug under and the sides of the entrance road walled up with & splen- didly constructed stone wall, made quite beautiful by vines creeping over Washington’s most beautiful residential section of detached Containing seven million feet of forest-covered land, Includes what remains of homes. with six miles of improved streets. The Triangle of Increasing Values —between Connecticut, Massachusetts and Cathedral avenues. Over 200 homes from $15,000 to $200,000 built and under con- Actual improvements and home values exceed Wooded villa sites, lots, central and side hall homes, with lots from 50 to 115 feet front. Park Office, 32d struction. $8,000,000. St. and Cathedral Ave. Middaugh & Shannon, Inc. ESTABLISHED 1899 Riggs-Semmes Bldg., Dupont Circle, Potomac 2200 it and on up the stones of the main house, thus carrying on the effect and connecting Much of the beauty of a house is in the planting, wonderful possibilities in this line. It has charm of line; nothing could be loveller as a building now have such a home as will be a great clally large, the space is so arranged | pleasure to both you and the friends | g {who are to enjoy its hospitality, to v nothing of the stranger who will vass your way and stop to admire. labor vary | localities, |estimates vou |who can”give you detailed informa- as to ceds to be | For information as to the procuring |ot the building plans of this design, dressed envelope Editor, The Star. {Copyrigh Massachusetts REAL ESTATE. : - CAPITAL RANKING EIGHTH IN BUILDING ACTIVITIES Drops Back From Sixth Place, Reached in January—Comparisons With 25 Other Big Cities. ‘Washington stood eighth in the val- ue of bullding construction among 25 of the leading cities of the coun- try during February. Despite the fact that during last month construction authorized here was nearly $5,000,000, or twice that of February of 1924, the District falled to keep its place of sixth among these cities occupled In January. In January, however, the District took a leap from ténth place, which it had maintained almost steadlly through last year, to sixth place, so that its prosent position is still in ad- vance of 1926, A survey of the building situation throughout the country made by the W. Strauss Co., at the close of last month shows that despite a marked slowing down of new bullding in Greater New York during February, the whole country wa ithin 7 per cent of the record established in February, 1924 The second month of 1925. in fact,|” from a national standpoint, was 16| list, per cent ahead of January this year,| 289 per which in view of the sever! of the | Denver Winter was quite unsxpected in Jan twe st place February building permit raports| Rich was enty-fo from 364 citles and towns show a|coming into the list for the first t total of $281,016,826, compared with $301,898,236 in February 1924. The cen- tral region had a gain of 31 per cent over February 1924, and the South | exceeded its last year's record by 43| per cent. The Pacific West lost § per | cent and the East, by reason of a 47| per cent loss in Greater New York, | | Detroft was the fifth city Cleveland was sixth with a gain of 23 per cent. Kansas City, Mo., was in the 25-city list for the first time since October, 1924, occupy enth place, with a gain of cent, the highest proportions of any city over February, 1924 Louls jumped from eleventh place, January, this year, to ninth place, with & gain of 108 per cent, over February, 1924. Pittsburgh retained tenth place with a gain of 97 per cent Miami was in thirteenth place with a galn of 175 per cent. Baltimore rose from sixteenth place in Janu- to fourteenth. Louisville rose twenty-fourth to seventeenth place, with a gain of 22 over February, 1924. Colu was nineteenth, with a g per cent, coming into the Z5-city for the first time since April, Petersburg, Fla., for the first time, with cent over February, ose from twenty-third place in the list. from 1924 the entrance with the Citles. Feb. 1024, Comparisons by eb. 1925 and this e e design holds New York Chicago Tos Angeles Philadelphia Detroit B Cleveland Kansas City, Washington St Lout.. Pittsburgh . Boston .. San Fr Miam! Baltimore Oakland Fortland, Lousvilie Milwaukee : Columbus, Ohio. tersburg. materfal than beauty of well and “you will add the landscaping, showed a loss this February of 30 per cent. Eliminating New York City, the Eastern region would show a gain, [and it was a New York's loss| which produced the 7 per cent loss in the whole country. leading cities there was a| 10ss of 10 per cent, also due the slowing down in New York.| six other cities in the 25 showed | | losses in February | 20: 8¢ pe | Chicago held second position with a| 2} Prover oo of 46 per Angeles re- | 23 Dallas .. tained third pl adelphia took | 24. Richmond . fourth place away from Detroit in |25 Seattie bruary, with a gain of 44 per cent icisco. the prices of material and so materially in different we do not attempt to give as to costs, but suggest consult your local builder, Orex <3400 853600 the costs installed of your exact in this design. send a stamped and self-ad- | F Choice 4-Bedroom Home Just Off 16th Street Total George Matthew Adams.) Park A soundly built brick home in excellent condition, consisting of 8 rooms (4 sleeping rooms), 2 baths (built-in tub and shower), broad front porch, sleeping and breakfast porches, atti awnings and garage; on lot 24x140 feet. 1521 Allison St. N.W A Real Buy—Right Price—Terms Open Sunday 2-6 P.M. SHANNON - & LUCH - ING: open fireplace, screens, $33385888888888888888s088sL888888888E $323828222222222232422322322322332323221 3 %8 § SPRING OFFE This Sunday Of Ten New Homes On CHEVY CHASE, MARYLAND EXHIBIT HOUSE furnished by W. B. Moses & Sons Concrete Streets Cement Sidewalks Gas and Electricity Water and Sewerage Stores and Schools Detached Homes Large Grounds Accessible to two car lines and two main boulevards into City Adjacent to principal ¢ clubs of ington Surrounded by many of the Cap- ital’s finest Homes A Typical Leland Home T completed and presented for inspection this Sunday for the first time, these charming new Homes embody all the comforts and conveniences of modern residential progress. Yet each is individual and distinctive in its design and construction. Discriminating people choose to reside in Leland for many reasons. Chief among these is the ideal combination it affords of city comforts and suburban pleasures. And lying, as it does, in the direct route of greatest property value gmu;lh. a Leland Home makes an exceptionally sound investment for any family. Work is to be shortly commenced on a new boulevard which will connect Leland directly with Connecticut Avenue, shortening somewhat the present Bradley Lane route. This will further enhance Leland Home values! $8,775 to $9,775 10% Down and Small Monthly Payments M&RB. WARREN . OWNERS AND BUILDERS 925 15th Street DRIVE OUT Connecticut Ave., through Bradley Lane and turn right on Rockville Pike one square to LELAND. Main 9770