Evening Star Newspaper, October 30, 1926, Page 20

20 STABLITY FACTOR HELPS LOMS HERE Real Estate Man Points Out Value of Governmental En- terprise in Mortgages. REAL The duties of a mortgage invest- its clientele extend farI 's conception. The ry to a success- i ient business is v of the executives of that to make conservative loans, & to Morton J. Luchs. ained the situation thus: is they must at all times ccurate and complete knowl- f relative real te values, and must be wi to year after e fees w! accompany ex- ns. There is no reason why company or investment f the United States of which employs such loaning should not enjoy hundreds s of existence, as_have the o companies in Europe. A business’ success depends upon expert and cautious investiga- tion into the securing medium. Large Overhead Charges. “If the mortgage company is organ- 1zed from only a_selling standpoint the expenses for advertising and large overhcad charges necessitated large commissions, under which mortgages even up to 90 per cent of the cost of the property are often accepted. Statistics show us that such com- t only during the Intervals 1 estate depr ons,” Mr. Luchs said. “These companies guar- « nothing. A foreclosure neces- ) A maturitv of the paper 18 acompanied by 1oss to the investors. ESTATE. This leaves a dissatisfied clientele, and in 99 per cent of the transactions the business relations between the Investment house and the investors are ended. “I wish to impress upon people in- experienced in investment the fact that first mortgage notes are without doubt the finest investment medium. However, a first mortgage investment in which unscrupulous lending has been necessary is decidedly against the safety of the medium. Now more than ever before, investment com- panies of 100 per cent reput making loans only as the m m_se- curing that loan is safe beyond a doubt, the loan being made only on a thoroughly legitimate margin. _Careful Saving Paramount. “Careful loaning of money is the basls on which the success of a mort- gage business stands. ““The location of the property secur- ing the loan is responsible for a large element of the safety behind the loan. Washington real estate offers an ele- ment of safety that is peculiarly limited to Washington; namely, that of unusual and surpassing stability, since & governmental enterprise is the industry in Washington on which the amount of circulating money is deter- mined. Governmental enterprise is the last to feel ill effects of mercan tile or industrial disorder, therefore the real estate mediums securing first mortgage notes on Washington real estate are regarded highly for de- pendability and safety.” BUILDING PERMITS REACH $600,000 FOR LAST 7 DAYS (Continued from Eighteenth Page.) THE EVENING STAR, WASHiNGTON, D. C., SATURDAY, Ninth street (lot 121, square 2989), to cost $325. Woodward & Vieth, owners and builders; Kenneth Vieth, architect; to erect two one-story frame dwellings, 2819 and 2828 Myrtle avenue north- east (part of lot 19, square 4309), to cost $10,000. Louis A. Neuer, owner and builder; R. I. Vaughn, designer; to erect one one-story cinder-block dwelling, 3507 Sixteenth street northeast (lot 16, square 4148), to cost $4,000. Joseph A. Goetzinger, owner; W, E. er, builder; to erect one brick ate garage, 4312 Eighteenth t northeast (lot 73, square 3919), st, $320. nha Laundry Co., owners; t addition, 1346 Florida gvenue northeast (lot 817, square 234), to cost $2,500. Will Erect Factory. W. J. Lambert, owner; to erect brick addition, rear 1318-20 Twelfth street (lot 823, square 280), to cost $2,000. Central Armature Works, cwners; E. St. Cyr Barrington, architect; Bahen & Wright, builders; to erect one three-story cement block factory building, 628 D' street (lots 32, 806 uare 457), to cost $40,000. ‘0., owners; to erect sheds, 1859- ac avenue southeast and 1360 to 13681 Pennsylvania ave- st (lots 56 to 69, square 2,500. . D. Phillips, owner; A. R. Haring, builder; to erect one two-story brick and tile dwelling, 3701 Legation street (lot 33, square 1869), to cost $9,000. Harry M. Packard, owner; Rodler & Kundzin, architects; A. C. Warthen Sons, builders; to erect one two-story brick and tile dwelling, 1718 Varnum street (lots 41 and 42, square 2644), to cost $16,000. R. W. Bliss, owner; John W. Davis, builder; to make repairs, 3101 R street (parcel 39/6, square 2158), to cost teenth street (lot 810, square 2861), to ! $3,000. cost $4,000. A. F. Ruppet, owner; to erect one cement-block addition, 2805 Monroe street northeast (lot 806, square 4316), to cost $450. J. 8. Power, owner and builder; to erect one metal private garage, 572\ R. M. Fred, owner and builder; Har- ris & Harris, architects; to erect one | four-story brick apartment, 3536 Tenth street (lot 804, square 2832), to | cost $50,000. E. M. Willls, owner and builder; George T. Santmyers, acchitect; to erect six two-story brick dwellings, 2108 to 2118 Thirty-seventh street lots 751;to 756, square 1301), to cost $30,000. Martin Bros.,, owners, architects and builders; to erect one two-story brick dwelling, 1420 Iris street (lot 47, square 2738), to cost $17,500. Martin Bros., owners, architects and builders; to erect one brick pri- vate garage, 1420 Iris street (lot 47, square 2738), to cost $1,200. C. H. Snow Co., owners; to make re- pairs,» 1409-11 Harvard street (lots 64 to 67, square 2670), to cost $500. Capt. C. H. Brode, owner and build- er; P. Gordon Cooper, architect; to erect one onestory cement block dwelling, 2130 Thirty-second street (lots 13 and 14, square 5655), to cost $3,000. R S — The bullding of Windsor Castle was begun by Willlam the Conqueror. R 2 2 AR L T2 HERE IT IS! "THE HOME YOU ARE LOOKING FOR Reduced to $8,750—From Owner fences, street. furnace heat. aved ouse, Fruit. and. block from Beautitul semi-bunealow, 8 rooms, 2 25 minutes from Treasury, 5 minufes from University' of M: busses on Baltimore Boulevard. 2 baths, open fireplace. Blue _granite 2140 Baraga, - garden, Summer ary- Will consider terms_as low as $350 cash and $70 per month, or will lease to approved tenant at $80 per month Open for Inspection Saturday and Sunday ‘ NO. 11 MARION STREET, HYATTSVILLE Phone Mr. Lee, Owner, Hyattsville 720 M. OCTOBER 30, 1926. “ REAL ESTATE. ATTENTION: It is seldom that 8o attractive a residence is of- fered for sale at such a low pur- chase price. This colonial 8-room home is only 2 years old. It contains 4 beautifully decorated rooms on the first floor, 4 large sleeping rooms and 2 baths, one of which has @ built-in shower. Both the kitchen porch and the side living porch are ample in size. . i There is a built-in garage. 1305 Holly Street A REMARKABLE HOME PURCHASE 16th Street Highlands Appropriate landscaping and a well-kept lawn make a fit setting for this attractive home. IT IS A REAL BARGAIN AT $15,000 Open Sunday for Inspection SHANNON-& 718 14th St. N.W. CHEVY CHASE Choice Lots in New Subdivision Adjoining Highest Point in the District of Columbia EXTRA All Al leys in this Subdivision will be paved. A mains will be laid and all streets and curbs will be built of con- crete with cement sidewalks. Lots of various sizes and shapes to suit purchaser. L BRANDYWINE g L { ALBEMARLE STREET ¥ —— o _njts]_ 5 __1sss_\ SCALE: 1INCH. 70 JOOFF ool =] %2 k= - 1 5,/ $ i LR STREET THE high type of homes being built in the subdivision just north is your assurance that your investment is safeguarded. : TWO advantages in purchasing now: choice of location and NEW subdivision of high class and exclusive residential prop- erty. Grading work will be completed; water and sewer Call Us for Terms and Other Information Thomas J. Fisher & Company, Inc. 738 15th Street N. W. 20% discount with attractive terms improvements. pending completion of Phone Main 6830