Evening Star Newspaper, February 5, 1927, Page 20

2 REAL ESTATE. Washington, D. C. St. Paul, Minne s apolis, Boston and St. Louls. H “Citles reporting that they expected : building operations to be at or in ex : cess of 1926 volume included Detrolt, Dallas, Seattle, St. Los Angeles, Patersburg, Fla; Dayton, Ohlo: Lake City, Columbia, 8. C.; Gal Tex.; Akron, Ohlo; Houst leans, La.; Shreveport, Oreg.; Abilene, Tex.; Jackson, Miss and Ventura, Calif., and cities an towns throughout the States of Utah, Nevada, Wyoming, ldaho, Montana and Misslssippl. NS5O : Nation-Wide Survey Shows ! [(Continued from Seventeenth Page.) adopts this uniform shall not be valid in the State as against any mortgage, purchaser or|as seclon 87 hapter 21, of 1909, judgment creditor until such notice [ which In effect states that no corpors fled in the office of the|tion shall Interpose the defense of shall be registrar of deeds in the county where very different from those which con- front the borrower of money for the purchase of a home, now have an ef- fect never intended by the men who passed them. They force the matter of junlor financing to be carried on in an Indirect and evasive way, If not in direct violation of the law. As a step to lower the cost of such financing, the committes recommends the adoption by other States of a law similar to the New York law, known COMMENDED TO ALL OTHER STATES’ STUDY law, this len usury in any action, and defines cor- THE EVENING STAR, WASHINGTON, D. O, SATURDAY, FEBRUARY 5, 1927. VIRGINIA TAX LAW ' REAL ESTATE. 142 Street TERRACE IT°S NOT WHAT YOU PAY R — r‘rlmll"\‘m‘:hgnl“‘;fl-:n:fl:‘\‘m‘-:",r..:‘“ he Geal estate les. In other words, |porations as all associations and jolnt Under W; fcally the only citles to report a iabor |the uniform act blaces the burden |stock companies having any of the er way. g e O the minson | Ubon the officers of the Covernment |powers of privileges of corporations e g slbibe e o Cacord the lien, ns well as its dis. | not possesssd by individuals of part- - charg This 1« excellent legislation | nerships. * New 1927 building operations to- taling more than $3,500,000,000 are already planned, under way or about to be started in the United States, according to a nation-wide survey of the construction industry just com pleted by the bullding economic re search bureau of the American Bond & Mortgage Co. which estimates that not less than $6,260,000,000 will be expended on new construction dur- ing the year Reports from the leading citles and industrial districts of the country, the survey stated, revealed that con struction activities are proceeding at a high rate and give further assur ance that there is little likelihood of any decline of major importance in the near future. The survey, which was mada with the co-operation of representatives of the Associated General Contractors, the National Association of Building Trades Employers, State and city of ficials and executives of local real estate boards and chambers of com. merce, summarized the bullding sit- uation as follows: Housing shortage created by war has ended, but normal requirements “Reports from practically every cit; v agreed that no reduction in labor o and 1t vitally affects veal property.” The uniform mortgage law, which [sa ot “1f any protection in usury 18 neces . it_certainly is needed by FOR YOUR HOME— material costs could be expected for many months. Industrial Building. “Although residential and commer clal bullding will constitute a large part of the 1927 building program, there s & large amount of indus| public works and utilitles construction planned. Estimates compiled by the Blectrical World show that light and power companiés th the puntry will spend §! for 1927 construction, as compared with actual expenditures of $841,000,000 in 1926. ““The automobile industry plans an extensive bullding program amount ing to approximately $100,000,000. Of this amount, Motor, a trade publica tion, states $75,000,000 1& to be spent for new piant construction, and up. wards of $15,000,000 for expansion of retail establishments. “The $165,000,000 Government pub- lic building constpuction also will give impetus to the building industr “Large port development work also {s contemplated by cities along the South Atlantic, Gulf and the Pacific Coast. Plans have just been com- for homes and the demand for indus- trial, commercial and public building ,will keep construction industry highly active. There is practically no overbuilding, and a number of cities need certain types of Industrial, commerclal and public buildings. No reduction_in bullding wages is expected and it is anticipated that labor will ask further increases in some localities this Spring. Material prices are well stabilized and no reductions expected until, per- haps, the latter part of the year, and even then it there is any it will be svery slight. Huge Volume Seen. ““Figures now at hand,” stated the Isurvey, “Indicate that at least $3,500, 000,000 in new econstruction for 1927 .is already assured, This amount is “being increased daily by announce- ments of new projects, and it would not be surprising if the present year recorded & volume of construction in L excess of $6,250,000,000. “There is some doubt, however, it total bullding operations for the year will reach the record-breaking total of approximately $6,850,000,000 at- “tained in 1926, @s a number of large “cities report that they expect some gradual decline in activity toward the latter part of the year. “Reports from the various cities and itowns indlcate a favorable bullding itrend end falled to disclose any im: “portant over-built situation. On the other hand, a shortage of certaln “types of industrial, commercial and public buildings Was shown to be quite ‘general. Among the cities reporting ‘a shortage in these classes of bulld- lings was Milwaukee, Denver, St ‘Louls, Los Angeles, 8t. Petersburg. .Fla.; Columbia, B. C 3 Washington, D. C.; Lakeland, Fla. -Jackson, Miss.; Detroit, Cleveland and ny. ‘While expecting some tapering off in bullding operations, reports from all gections of the country were fav- rable, and no predictions of a gén- eral building depression were received. « “Cities anticipating slight decline in “construction included Cleveland, Phil- adelphia, Denver, Hartford, pleted for a $5,000,000 development of the waterfront at Berkeley, Calif. “Despite the huge building program cafried out in the South in 1925 and 1926, a vast volume of new construc- tion 18 still under way and much plan. ning is belng done. It is estimated that approximately $150,000,000 worth of new school and church buildings will be bullt during the present year. Besides' this amount thera will be large expenditures for hydro-power, textile and other industrial develop- ments, as well as for modern commer- cfal apartment houses and hotel buildings. “University and college building also will occupy a prominent place in the 1927 building program.” MERTZKE APPOINTED. University Secretary to Head Na- tional Realty Department. Arthur J. Mertzke, for the past two years executive secretary of the insti- tute for research in land economics || and public utilities, Northwestern Uni- versity, has been appointed director || of the department of education and research for the National Assocla- toh of Real Estate Boards. Mr. Mertzke succeeds Ernest . Fisher, who resigned Beptember 1, to join the fac- ulty of the University of Michigan, accepting there the first full-time pro- fessorship in real estate ever created by an_American university. Mr. Mertzke received his bachelor’s degree and the degree of doctor of philosophy from the University of ‘Wisconsin and also studied for a time at Cambridge, England. He hastaught in the field of land economics at the University of Wisconsin, and has lec- tured on land economics and real es- tate practice in the School of Com- merce, Northwestern University. For more than a year Mr. Mertzke was executive secretary of the Madi- son, Wis,, real estate board, during which time he organized and conduct- ed one of the first real estate board classes In thé United States on the suhject of renl # i was proposed by the national confer. points out, would simplify and make clear Junior second mortgage financing and financ Ing by tract function in spread home ownership, the commit- tee report points out. g, course of mo the usury laws, howeve ge ditions_entirely now prevailing and with the object of protecting borrowers under conditions ' WMAL. groups in business for profit and en- gaged in straightforward business of commissioners on United ence States laws, apd which will come be. | ventures,” the committes polnts out. fore the American Bar Association during the coming year, the report mortgages enl estate, titles to CITY CLUB TO ENTERTAIN. and its general adoption by the States Would also provide a standard form of | Officers Will Be Guests at Dance mortgage. Tonight. Gen. Anton Stephan, president of the City Club; Rudolph Jose, Bdward Brashears and Maurice Rosenbers will be hosts at a special dance and entertainment in honor of 58 new members recently inductéd into the club, tonight. On the program are Ethel Wil \hd Margaret Levy, juvenile ente tain Lee O'Haire and Pauline Healy, and Ben Levin and Allen Virts, instrumental and singing entertainers, augmented by the City Club Synco- pators, The program is scheduled to begin 30 and will be broadcast by for Financi which CUSSes financing, includes the discounting of land con s a most important Iing possible wide equities, Such financing higher margin of wse with first mort in the ordinar should be worth mortgage financing, ates. The age-old . prevalent in the dopted under con different from those lly involves than is the financing and events than first committee ous Every convenience Best environment New homes that offer the utmost in living comfort —and IDEAL surroundings 12th & Girard | NORTHEASTr e Tapestry Brick Six-Room Homes Selling at $8,750 on easy terms OPEN Sunday N. L. SANSBURY CO., Inc. 1418 Eye St. N.W. M. 5904 These homes congist of 7 large room place, a man’s room, sci¢ntifically appointed kitchen. a boudoir or nursery, two tiled baths and first-floor tiled lavatory (one of the baths has a built-in shower). a large linen closet, a pantry, bas of course, all modern construction, completes these ment splendid Detached English Residences. 1369 Hamilton Street 1333 Ingraham Street (Sample Homes for 1ith Ntreet Terrace) BURIETH HOMES Each of these 20-fts stone- front homes contains six large rooms, a tiled bath with shower, a furnished dining alcove or a large dining room, a completely appointed kitchen, a lino- leum-covered kitchen floor and open fireplace. Three large bédrooms, ample closet space and all modern conveniences complete the homes. 1702 BUT WHAT YOU GET! Weigh this thought care- fully when you inspect the many new homes for sale in Washington City. 18, an open nre- lavatory. And, You will find that Shan- non and Luchs Homes are not only of superior con- struction, but that they are equipped and finished in a manner that immediately re- moves them from the “Or- dinary” and makes them “a law of comfort and con- venience” in themselves, You will be surprised to learn how little these homes cost. And, too, our terms are based upon the financial limitations of your pocket- book. THE SAMPLE HOMES ARE ALWAYS OPEN FOR YOUR INSPECTION 37th Street N.W. (Sample Home) Homes for Those Who Have Given Up in Despair— America’s Smartest Colony Homes 3 YOUR NAME OR ADDRESS WILL NOT BB ASKED — _a... o ERHAPS you've been unable te find a ready-built 5 house that suits you? Then come to FOXHALL! ’ Especially if you are deeply interested in real English b 4 architecture and artistic community planning, for 5 here is a bit o’ Olde Englande itself plucked up bodily and S laid down as “Greenwich Parkway” in the quaint, modern g Vill a reii e e of Foxhall. Prices range from $11,500 to $15,000 on convenient terms of payment MODEL HOME Furnished by W. & J. SLOANE of New York and Washington i ; 4428 Greenwich Parkway ¢ Drive West from Dupont Circle via Q Street to $1st, turn North to R Street, then West to 35th. One square South on 35th is Reservoir Road, a direct route West to the Village. Circle. Or take the Forkall bus at Dupont Open Sunday and Daily E O3 1417 K Street—Main 9300 SADP HOME OF HOmes Here are old world charm and new worl crgftsmnnship cleverly blended for your enjoyment and happiness. Any lover of true beauty will literally, revel in the many unusual refinements that present themselves in these unusual dwellings. Visit the VILLAGE without dela};—wnh the assurance you will leave without annoy- ance 2707 Adams Road 609, Sold ] Before Completion principal). 100% Just North Columbia Road N.W. Carefully Selected Occupants CO-OPERATIVE FIREPROOF | Third Floor SUITE 300—A nice home with living room and bedroom, facing the entrance of Rock Creek Park. Tiled bath, kitchen and dining alcove, with many built-ins. Small initial payment and $51.00 a month (which includes interest, operating charges and curtail on principal). Fifth Floor SUITE 510—Just one left of this type! Reception Hall, Living Room, Murphy Bed, Tiled Bath and Kitchen. ~ Small initial payment and $34 a month (which includes interest, operating charges and curtail on Open Every Day- E 9:00 AM. to 9:30 P.M. M DAWSON Co-operative Apartment Homes 2707 Adams Mill Road N.W. Telephone cplnmhh 6490. of 18th &