Evening Star Newspaper, November 19, 1927, Page 16

REAL ESTATE. THE TEVENING REAL ESTATE. DEMAND FOR OFFICE BUILDINGS MET IN CAPITAL REALTOR SAYS Development of Last 10 Years Likely To Continue, J F. M. Bowie Tells 6 * BUILDERS AFFECT CAPITAL'S BEAUTY Have More Influence Than Y STAR, WASHINGTON, closes tomorrow, was D. C., SATURDAY. NOVEMBER 19, 1927.° prescribed therein that rents are to Sie o0 Rents should be collected promptly The owners of the hnu«e who now | and accounts should be remitted ATLELANDSOLD A\ SHADES 5o 2 Type Window Mr. and Mrs. S. A. Coleman promptly to the owners. Proper check Made to Measure on the supply department should be Whatever type of shade y u have in mi rlI reported at|reside at 715 Dahlia street, Takoma Park, are expected shortly to move into their new place. business and in teaching an under- standing of loans and mortgages anc other features of realty business. In controlling the producing income of millions of dollars’ worth of prop erty for owners, the rental agent has a great responsibility, and the posi tion of rental manager is a difficult job because he owes a duty not only to the landlord and owner but also to look after the interest and retain the good will of the tenant, Mr. Bowie de- clared. made as well as on the repair depart | ment. Repairs, the speaker sald, were a problem in themselves. as the own ers usually desire a minimum amount of expense in this regard while the tenant desires a maximum amount of improvements. The income tax law must be prop- Y. m The tremendous development of new office buildings in the past 10 years |in Washington, which he believes is likely to continue, has fairly well met Federal Government, Medary Tells Association. Developers of private property | within the District of Columbia will ~ have a greater influence on the physi. | the demand for such building units cal character of the National ¢ 1| created by the growth of the National than will the Pederal Government|Capital, J. F. M. Bowie of the H. L. d during the cou with & s tremandons butlding (pro-| Bust Co. stated i Nl Ly & bro-) Mecture on the rental and leasing of | estate office was not consids A. Class. has about disappeared from the local market. Mr. Bowle said that apartment rent- ing and leasing of the average real ed one of the more important phases of vhen business due to the comparatively small commission and to the great amount of detail work involved, being profitable only where a large number | erly studied in order to properly com- pare data in regard to financial stand- ing of properties with the cost of malintenance. Proper monthly itemi- zation of costs should be rendered in order to give the owner exact return on_the building. The next class will be held Monday at 7:30 p.m.. when William N. Payne rr., wlll speak on insurance. The general rules for obtaining de ble tenants and lessees are as fol- lows, he said: Investigate applicants and get in touch with the last landlord, who usu- ally has the best knowledge The financial standing of business prop erty 'tenants should also be investi gated. Deposits Held Necessary. In consummating rental transac- tions, deposit should be required and a 666 Boards in Association. of Takoma Park Purchase Demonstration House. The Star model home at Leland and streets, Leland (Chevy Cl .. erected this ; ear as a part of the better homes demonstration sponsored by The Star and the Home Owners’ Institute, has been purchased from M & R. B. Warren, the builders, by Mr. and Mrs. S. A. Colema.., it was an- nounced today. of apartments were represented Iy | Jeposit contract should set forth ail The National Association of Real can make it to measure—AT FACTORY We would be pleased to quote you estima us up. . STORES SAMMONS Proprietor This was the challenge laid before (business properties Monday evening the members of the Operative Build- “N"”’ the ‘real et ers'” Association vesterday noon at a| Y. M. C. A. school. \\}nw‘h x]« cong luncheon meeting at the Cariton Hotel uwl"r the auspices of the Real E: by Milton 1. Medary, member of the | Board. National Park and Planning Commis- sion_and president of the American Institute of Architects. Bocause of the mammoth private buflding operations in Washington, which last year amounted to the sur- prising total of more than $63,000.000, Mr. Medary pointed out, the develop: 0 o o et ara ~oam. | should be begun approximately six With the Federal Government | months before completion of the build- plans for making the Capital |ing in order to insure success of the the most magnificent city of the | Project. This conservative business % | practice is being followed in Washing: | ton today, he said, citing one i \ recently of a new building tha | virtually completely rented within 30 days following its completion. Large Apartments Neglected. While Washington has many apart ment houses, some of which are “ex- ceedingly splendid,” the development of the larger and more expensive | types has been more or less neg- | lected, the speaker said. He referred to apartment units ranging from five rooms and two baths to 20 rooms and ing from $12.000 to $15, The consideration involved in the transaction, exclusive of the cost of the hangings and furnishings in the house, which were installed for the on period of a month, which Estate Boards, of which the Washing- ton Real Estate Board is a member, now has a total membership of 666 real estate organizations throughout the United States and Canad: one office. However, he added, such work is a starting point for begin ners in real estate operations and i important as a means of bringing about proper contacts leading to other the terms of the lease. Many leases are made between the agent and ter ant, and the leases for longer than a vear should be made between the own er and the tenant and it should 830 13th St. N.W. Oftices here of the better grades, he said, are renting from $2 to $3 per square foot, including elevator service, cleaning of the quarters, re- frigerated water and other services. The marketing of this type of rental space, the speaker pointed out, is one of the more difficult problems and Wuat Carritz VoLume Means To You Greater Home Values for Less Money! Big 20x32-Ft. Homes Topping Everything in the Entire City 25 Built—17 Already Sold s Beauty. of Wash- your afeguard Capits rmanent char ately, the speaker said, num. the ate developers of ton and its suburbs are at work on pro; h the greatness of the National Capital and ave producing beautiful and worth- while de A number of suburban communiti espeeially. he said, are of such cha acter that add “‘tremendously beauty of the Capital. aling to all Individual builders Big 6-Room Homes Built-in Brick Garage—3 Big Covered Porches 62 Built—49 Already Sold Describing intricacies of rental and leasing of business proerties and of ‘;.vaml\ management for the benefit { of the real estate students, Mr. Bowie the marketing of busine: space, such as stores, is profitable where rentals are usually higher than for other types of buildings and practically always on lone-term _le: or this type of realty service, he said, the broker gets per cent of the gross rentals. service usually is profitable to the real estate man due to the fact that there is no service to render after the lease is made, he pointed out. He urged that every large office should have a business property specialist. ; There have been practically no s viding low-priced_homes within 'the | tua Distrier. of Golumbin oo in Aneans of “greatly underpaid” | since the war, the speaker said, and Gove employe class here, as s oL B i ON® paes here. 8% 1as a result this phase of rental work smaller number of wealthy families. | In deciding upon building projects the | size of the “‘Washington pocketbook” | lary pointed out t while ssential to plan, were arbitrary things. On the other hand, however, he added, zoning laws and other controlling measures serve for the protection of the value of property as a whole and should be looked upon by private prop- erty owners as protection rather than as “restrictive legislation interfering with their business. Low-priced Homes Urged. During a round table discussion that followed the talk, Herbert T. Shannon pointed to the need of pro- | 6 Large Rooms 3 Big Covered Porches Built-in Tub and Shower Artistic Decoration Hardwood Floors Real Wardrobe Closets Paved Street and Alley Only 3 Large Bedrooms Built-in Tub and Shower Ample Closet Space Concrete Cellar Hardwood Floors Artistic Decoration Paved Alley A Building Corporation Going Out of Business Will Sacrifice this large 8 Room Home 205 Sheridan St. N.W. It’'s Up to You— Here's a chance for someone to actually save $650 — this home must be sold QUICK! It's value is modestly estimated at $10,000 and the first buyer will get it for $9,350. We might easily say that it was worth even more than $10,000—re- must be considered, he said, because, | in the final analysis, the type of house | which_the builder can sell s, perhaps, ! 5th and Emerson Sts. N.W. Just Off Kansas Ave., Near Beautiful Sherman Circle At a Saving of $1,500 the deciding factor. Ownership of small, low-priced homes, he added, often s a stepping stone to owner- ship of more.costly houses. Here, Mr. Medary stated, that while lu row house could be built that would be 5th and Delafield Sts. N.-W. On the Highest Point in Petworth . NOTHING LIKE THEM EVER BUILT IN PETWORTH AT THE PRICE 38 Built—All Sold But 3 Homes of Quaint Design In the Exclusive 16th Street Residential Section Attractive Terms T “the worst and most stupid thing ible,” yet with proper treatment | e might be as beautiful as a detached home. With right han- | dling, he said, rows of five, six or more houses could be made both economical | and beautiful. The meeting was presided over b Rufus S. Lusk, president of the Oper- ative Builders' Association. -BUILDERS’ LUNCHEON. Function Announced to Aid Or- ganization’s Membership Drive. A luncheon meeting will be held by members of the Washington Build- ers’ Exchange at the Raleigh Hotel on Monday, as a part of the organiza- tion’s membership drive. The principal speaker will be Earl Stokes, secretary of the National As- sociation of Builders' Excbanges. Short addresses also will be made by | W. E. Mooney, George Wyne, Fred Drew and others. 25 Built—All Sold But 3 4-Bedroom Homes 20 Feet Wide—35 Feet Deep 2nd FLOOR ARRANGED FOR APARTMENT Paved Street and Alley e i The Purchaser Gets More for His Money in a CAFRITZ LIFETIME HOME 1. ENORMOUS PURCHASING POWER member, it's an 8room home, The vast resources of the Cafritz Organization enable it very attractively finished to command the best of materials at prices unknown to throughout and is located in 7 § M She of Wniiington ot Sae B i 15 | the smaller builder—and the purchaser benefits by these savings. ular sections. LOW TERMS! YEAR 'ROUND CONSTRUCTION PROGRAM To inspect—Take 14th St. car marked Takoma, get off at Sheridan St. and walk % block Not just a few months of the year, but every month sees east. the Cafritz Organization building Lifetime Homes to supply the demand for its product. No shut-downs—no waste—no needless depreciation. - Terrell & Little, Inc. SKILLED WORKMEN IN ALL TRADES 1206 18th St. Main 3285 AGENTS Only skilled workmen, trained to the exacting standards of the Cafritz Organization build Lifetime Homes. Better workers well-paid are more economi Tlley produce better homes for less money—another saving for the purchaser. 4. LARGE-SCALE OPERATIONS Not ten or a dozen, but hundreds of Cafritz Lifet onstruction at the same time. Ove: and supervision are distributed over a greater num- ber of units and the cost per unit is less—less to the purchaser. MODERN HOMES WITH LATEST EQUIPMENT The result of the Cafritz policy of better homes for less money is a product modern in design, of sound construc- tion, practically planned, beautifully finished and thor- hly equipped, on terms that make home ownership Detached Colonial and English Homes 15 Minutes From the Heart of the City CHEVY CHASE TERRACE An Exclusive Restricted Community Overlooking Chevy Chase Golf Course EXHIBIT HOME 4609 Norwood Drive HOW TO GET THERE Drive out Connecticut Avenue to Bradley Lane, west to Wis- consin_Avenue, south to Nor- wood or motor out Wis- consin Avenue to Norwood Drive, about 15 minutes from the heart of the city. | sy { Resignations Accepted. ! The resignation of Warrant Officer Harry E. Hampton, at Fort McPher- | son, Ga., and that of Warrant Officer | F(‘rdxn’lnd Schultz; at Fort Totten, | N. Y., have been accepted by the War | Department. Parkwood St. N.W,, West of 14th | ° Convenient to the Shopping Facilities at Park Road 4th an Decatur Sts. N.W. In the Heart of Petworth, Near Sherman Circle 7 large rooms—3 big covered porches Tiled bath with built-in tub and shower Bright kitchen, shelved pantry, refrigerator Hardwood Floors and artistic decoration Deep lot with garage 6 and 7 large rooms 1 and 2 tiled baths with built-in tub and shower Large Porches 1 and 2 car built-in garages Exquisite decoration Bright kitchens, com- pletely equipped; large pantry IO R ST T Best Buy in New Seml-Detached Homes 6 Spacious Rooms Built-in Tub and Fixtures 3 Wide Covered Porches Large Pantry Beautiful Natural Trim Hardwood Floors Concrete Cellar Deep Lot, 25 Ft. Wide Big Garage Paved Alley w*8 950 Etuy Terms 1509 Irving Street N Brookland Modern Bungalow Located in a Fully Developed Square, Just Two Blocks North of Rhode Island Avenue. Finest Oak Floors Quaint Open Fireplace Artistic Decoration Large Covered Porch Separate Garage 3 Spacious Bedrooms Living Room 16x24ft. Ample Wardrobe Closets Tiled Bath, Built-in Tub, Shower and Fixtures Tiled Guest Lavatory Large Lot, 50x132 ft. Bright Kitchen, Pantry Landscaped Grounds i ——— oty *13,500 Open, Heated and Lighted Until 9 P.M. - CAFRITZ .- Owners and Builders of Communities It is in perfect condition, having been newly papered and painted throughout. You find on the first floor a large living room, dining room, complete kitchen, builtin refrigerator, two big bedrooms, tile bath and screened sleeping porch. The second floor is completely finished with three large, heated rooms. EXHIBIT HOME o 4412 Chesapeake St. N. Drive out Wisconsin Avenue to Chesapeake Street, west to Exhibit Home; or our representative will gladly call for you d show you these homes. Situated on a lot 50x135, with beautiful lawns, shrubbery and tile garage. Easy To inspect, drive out Rhode Island Terms Avenue to 16th Street, then turn north two squares to Irving Street. Priced Surprisingly Low for Immediate Sale Open Sunday Until 6 P.M. Hedges & Middleton, . Realtors ASK TO SEE OUR EXCEPTIONAL VALUES IN CORNER HOMES OVER 1,000 CAFRITZ LIFETIME HOMES BUILT AND SOLD 1412 Eye Street Franklin 9503