Evening Star Newspaper, September 25, 1926, Page 28

REAL ESTATE. COSTS OF BUILDING HELD- EXCESSIVE Construction Experts 1o Meet in Effort to Remedy Conditions. Convinced that public and private eonstruction costs are now unneces- sarily high, building experts from all parts of the country will meet at Kansas City October 4-7, in an effort to_remedy existing conditions i The conference, which will bhe under the auspices of the Associated General Contractors of America, will glve speclal attention to the record- breaking construction activities of recent weeks. It is announced. The following elements, among others. are cited as causing construc- :fon costs to mount unnecessarily and are scheduled for intensive consider- ation by the conference; incomplete or muddled contracts: misuse of lien laws; promiscuous issuance of surety bonds: construction of public works under the “day labor” svstem: sea- sonal operations and wasteful financ- ing methods. Virtually every large construction center in the country will be visited by the builders en route to Kansas City and current conditions in all sections will thus be subjected to close scrutiny, it is stated. The conference follows one held several months ago at Washington when general plans of procedure for “cleaning house” within the construc tion industry were laid. It is for the purpose of desimning means for thorough application of the proposed reforms that the Kansas City meet- ing is to convene. “Mainly the effort will he to rid the construction industry of irrespon- sible and incapable bidders, whose activities result in direct losses through defaults and also produce in- direct losses through the upsetting of the industry’s stabllity,” the official announcement of the meeting states. “Means by which the building public can act to be assured of secur- ing the greatest possible return for each dollar expended for construc- tion will be given definite outlines,” the statement continues. “There can be no doubt that con- struction prices now are feeling the result of absence of organized super- wision of the construction industry during many decades. Through use of standard contracts, close account- Ing of operations carried on directly by public officials without use of the contract system and precise rating of contractors according to skill, Integrity and responsibility, many existing handicaps to economical construction will be removed.” . LONDON SCHOOL OFFERS REAL ESTATE DEGREES College of Property Management Another Feature Available in England. How far real estate professional education is now available in Eng- land was pointed out by Francis H. Rex, president of the Auctioneers’ and Estate Agents' Institute of the United Kingdom, in his presidential address delivered at the recent annual provincial meeting of the institute. A college of estate management, established by the institute, makes such professional training available. In the administration of the collego the institute is now Jjoined by the Surveyors’ Institute, the Land Agents Society and the University of Lon- don. The University of London is- sues a degree in estate management. Order Abandoned Propex;ty Safe. The District Commissloners today authorized Maj. Edwin B. Hesse, su- perintendent of police, to conduct an auction sale on the grounds adjacent to No. 7 police station on October 1 to dispose of stolen and abandoned property in the possession of the Po- Y. M. C. A. REALTY COURSE WILL OPEN NOVEMBER 1 Plans Made to Have Classes Con- ducted by Well Known Pro- fessional Men. The real estate course of the Y. M. €. A. School, under the direction of James P. Schick, executive secretary of the Waskington Reai Estate Board, will open November 1, 1328. It has been arranged to have these classcs conducted by well known professional men of Washington. The course will tollow a text book which is regarded as an authority on real estate prac- tice and will ‘cover a period of four months. The Y. M. C. A. will present a certificate to each person who suc- | cessfully completes the work assigned. CiT SR INSURANCE FIRM LOANS $329,650 HERE, Metropolitan Life Authorizes Ad- vances Providing Homes for 57 Families. 50, sufficient accommodations families in Washington and its suburbs, were authorized at the last meeting of the Metropolitan Life In- surance Co. real estate committee. The loans were placed through the Potomac Savings Bank of Washing- ton. Loans on bonds and mortgage, au- thorized at the same meeting for the country at large, amounted to 9 Of this amount, $4.948 loans and $1,384,4 The city loans provide for the housing of 1,138 families in_dwellings and apartment houses. The other principal housing _loans vania, ‘Tennessee, Alebama, $113,700 ; Michigan, $491,300; Tllinois, $1,067,90 Missouri, $122,000, and Oregon, $98.- 900. Loans on four business build- ings amounted to $212,500. e farm loans were scattered in 22 "States, the principal amounts be- ingz in Iliinois, $20800; Towa, $499, 200; Missouri, $116,600, and South Dakota, $160,500. . g gttt L0 Wolf skins are more in demand for fur t r than befo 222NN N NN | | | e, $7,850—Easy Terms EXHIBIT HOUSE 1114 Holbrook St. N.E. One square from Florida Avenue and 14th Street N.E. Open Sunday and Wm. H. Saunders Co., Inc. Realtors—Established 1887 1433 K Street NW. AR AAAAAA AN . RRRNARRRAARARA = AR AR T ZZZ22 ‘THE EVENING STAR, WASHINGTON, D. C, SEATILECBTANS REALTRS NEET |Business Gathering _of Real | Estate Group to Be Held in Miami. Seattle, Wash., has been chosen as | the place of holding the next annual convention of the Natlonal Assocla | tion of Real Estate Boards. The | date of the convention has tentativel | been set for Angust 9-1 inclusive. Date of the annu business meeting of tha association. hich will be held | in Miami, Fla., was placed as Janu- ary 12, 18 and 14, Choice of o onvention city was made by the directors of the associa- tion at their quarterly meeting just held in Chicago. The August date is a departure from the association's § practice of some vears to hold its annual convention in June. ‘The change w: made with idea th be favorable to the business plans of the largest proportion of the mem bhership, and with the further idea that it would he advisable to de- crease the present half-vear's over- lapping between the period of elec tion of officers for any vear and the period of their taking office. the NATIONAL-GROUP ELECTS 15 NEW REALTY BOARDS tion Is 661—Three More Are Conditional. Fifteen new boards were elected to membership in the National Associa- tion of Real Estate Boards by action of the board of directors at a quar- terly meeting just closed in Chicago. One board was dropped from the association’s membership as dis- organized and not functioning. One former member board was reinstat- ed. of two member hoar ded for. Three ad- ditional boards were clected subject to technical conditio The action brings the membership of t asso- iation to a total of 661 b New Brick Never Occupied Six bath; water heat; electricity; tile floors; hot- rooms and oak double porches, screened. Built-in ga- rage, complete in every detail. an. August meeting would || Total Membership Now of Associa- PRESENT HOME BUYING COMPARED WITH THE PAST More Purchasers in Early Life Than Were Recorded Generation Ago, Report Shows. People today are purchasing homes earlier in life than was the general custom a generation ago. The average age today of the usual purchaser of a home site is approximately 36 years. Twenty years ago the figure was 43 and a fraction years. According to a study made, by the Harmon National Real Estate Cor- poration, greater economic prosperity and larger per capita wealth are in- dicated as important factors in this change. The “living wage” of other AY, T | years has been superseded by an al- most universal “‘saving wage,” which establishes a comparative family in- dependence earlier in life. The buyer of a home at the age of 36 still has a normal expectation of life of 31 years in which to pay for and enjoy his home. The complilations show that a man is warranted in pur- chasing a home even gt the age of 60 years, since he still has a normal ex- pecjation of life slightly over 14 years. As the average real estate mortgage is amortized in less than 10 years, the 60- year-old purchaser would live to see his home free and clear and his family provided for. These computations, which are used by the Harmon Corporation in making its offer of a free deed in case of death to purchasers of home sites on Harmon properties, show that the number of deaths per 100,000 of popu- ——— CHEVY Price is Set at with center hall and two baths 200 feet from Conn. Ave. Cars To Sell at Once the Visit this up-to-the-minute full two-story English house CHAS. M. LIGHTBOWN Owner and Builder Phone Cleve. 2061 . Office: 4 Decatur St., Cottage City, Md. Phone Hyattsville 954-W CHASE $18,750 in a wonderful neighborhood. An Englis A Home That is 4301 Argyle Daily Until 9 P.M. Main 1016-7 | sé % | | HEVY Offers No Better Value HASE Than This One Take .A(‘lvamage of L 8 West Virgilia Street This fine residence is situated on an 80-foot front lot, just off Connecticut Avenue and midway between the country clubs. The house is a center entrance hall type, having eight large Gray granite stone, copper lot. Beautiful large shade trees, car built-in garage. In a community of high-cla design and wonderful setting. h Cottage Decidedly Different Terrace N.W. roof, situated on a large corner facing Rock Creek Park, contain- ing 8 rooms, unusually large living room, 4 bedrooms, 2 baths, ss homes unequaled for beautiful Drive out 16th St. to Varnum St., thence West to Argyle Terrace Or phone our office 2O PBreuningerS Sons Realtors Main 6140 Corner of Ordway 706 Colorado Bldg. | A Home of Captivating Individuality in Beautiful Cleveland Park SATURDAY, SEPTEMBER 25, .1926. lation is lowest for ns between the ages of 25 and 28. In this case range there is an average of 718 per- sons out of each 100,000 who die each year. Thereafter the number of deaths per year in this 100,000 group steadily increases. REAT ESTRTE. Hindenburg Bust in Cologne. BERLIN, September 25 (#).—The first bust of President Von Hinden- burg to be@publicly displayed in the Cologne zon® since it was evacuated by allied occupational forces. has been affixed to a pillar of Cologne Cathe- dral, 200 feet above the ground. Offi- clals explained that the reason for placing the sculpture so high up was to express artistically the fact that Von Hindenburg as President watch- es over all his people. AT R e e e T e R R R e e e e e e e D e R R R R D Remember: Concrete is being ordered for the $15,000,000 Memorial Bridge that will link Lyon Village even closer to the city of Washington. $8,500 $750Cash $75 per month Where can you duplicate this 5-room modern house on these terms. Not in Washington or environs, where restrictions such as those in Lyon Village protect your investment against the depreciation in home wvalues that is the real bugaboo of the investor in real estate. In addition to a real home at a price and on terms that are evem easier than apartment renting we are offering you a sound invest- ment which will convince you that in Lyon Village your dollars have more cents than in any other suburb of the Nation’s Capital. If you fail to inspect this gem of a home you aré doing yourself an injustice. To get to Lyon Village, cross the Key Bridge and follow cither the Wilson Boulevard or the Lee Highway to the sub- division, or take the Blue Bus with the Red Band at the Key Bridge and have the driver let you off at our Lee Highway office. = Lyon & Fitch, Inc. “Builders of Homes for those who can pay more—priced for those who should not.” Phone Clarendon 650 / FRERRRR R AR This corner stucco, Mid- daugh & Shannon built resi- dence, with green tile roof, is located on a terraced lot 78 feet by 130 feet. Huge oak trees, and quantities of deco- rative shrubs add to its charm. The house is of the center- hall type and contains a large living room, with open fire- place, a music room or a li- brary, a sunny dining room, a butler's pantry, a modernly appointed kitchen, seven bedrooms, a sun room, three baths and a lavatory in the basement. One of the baths has a built-in shower. There is a large concrete front living porch. 3100 Cleveland Avenue A Rare Home Purchase The house is modern in P every respect. It has hard- n wood floors throughout, an 4 Beautiful Massachusetts Park automatic hot-water storage tank, an oil-burning hot- water heating system, and it Price—$37.500 is equipped with screens. i Open Sunday for Inspection There is a two-car built-in garage. GROUND IN THIS SECTION IS STEADILY INCREASING IN VALUE 713 14th St. WHY RENT—? 500 o Gives You Title to a Home ND a Gruver-Built Home at that, than which there is none better built. Decide now to exchange rent receipts for the key to your own home, in a good location. Sample House 2026 37th St. Northwest A new detached brick residence built to catch the eye and hold the favor of a family that will appreci- . ate the mingled charm of Colonial design and modern convenience Only a Block Away From Conn. Ave. Spacious center hall—livable living room—commodious dining room—southern exposed breakfast porch—four impressive bedrooms ~—two beautifully appointed baths. Full floored attic—atnple servants’ quarters. Two-car, built-in, heated garage. See It Today or Tomorrow Open and Lighted From 9 AM. to 9 P.M. Representative on Premises Apply Your Broker rooms, two tiled baths, and in addition, a full attic with two ; completely finished servants’ rcoms. There are hardwood floors, storage h.-w. heater, screens, weather strips and other extras. The grounds are 80x120 with abundance of shrubs, ever- greens and a side driveway to 2-car garage. Complete With Oil Burner Only. $17.500 - Hedges & Middleton, Inc. Franklin 9503 These contain six large rooms, tile bath, breakfast and sleeping porches (both screened). In the kitchen—white enamel cabinets, one-piece sink and many other conveniences. Built-in Fireproof Garage Open All Day Sunday—Drive Out R Street to 37th—Then North to Houses With Our Sign Hedges & Middleton, Inc. Realtors This Opportunity RS See It Open Sunday After ~ 1412 Eye Street N.W. Franklin 9503 Realtors 1412 Eye St. N.W.