Evening Star Newspaper, October 27, 1928, Page 21

REAL ESTATE. THE EVENING STAR. WASHINGTON, i D. C, SATURDAY, OCTOBER 27, 1928 REAL ESTATE. - NEED OF MORTAGE BOND STUDY SHOWN | an exhibitor in the Ideal home exhibi-| Higher Standard of Service Now Required by Public, Says Howard Moran. Discussing the subject of mortgages this week before the real estate class at the Y. M. C. A, Howard Moran.. vice president of the American Security & Trust Co.. stated that persons en- gaged in the mort- usiness trained a broad knowlédge of the subject because th~ public requires a er standard of than _in ars gone by. The development of various mortgage financing plans through life insur- ance com panies, trust companies and other agencies has done consider- able to educate the public in respect to the technical phases of real estate financing, and the borrower of today, Mr, Moran stated, is quite familiar with the subject. Detailing the nocessary routine in connection with handling a mortgage loan, Mr. Moran pointed out that the matter of appraisals was by far the most important. As the appraised value is the basis on which a loan is made. it was pointed cut that financial institu- tions are most careful in the selection of individuals to handle their business. The appraiser, Mr. Moran stated, must be one thorouzhly versed in real estate values and familiar with present-day conditions. Mr. Moran traced every step from the Initial application for a loan to the final disbursement of the funds after all details in connection with the prepara- tion of necessary papers, title examina- tions, fire insurance and other inci- dentals were consummated. At the next meeting of the class the subject of rcal estate contracts will be discussed by Louis Ottenberg, a member of the local bar, MIDDLETON QUITS REAL ESTATE FIRM A. E. Landvoigt Appointed to Fill Vacancy as Sales Depart- ment Head. ‘Th* resignation of F. Eliot Middleton as president of the real estate firm of Hedges & Middleton, and the ap- pointment of Albert E. Landvoigt to fill ‘the vacancy, was announced to- y officials of th> company. Mr, Middleton wh) has been as- sociated with the firm since its or- ganization in 1919, plans to open a real estate office of his own, derstood. besn active estate circles nere for many and former! associated with Boss & Phelps. Mr. . Landvoigt has been with the A. E. Landvoist. firm -of Hedges & Middleton since 1022, being” emplored in the rales depart- ment, of which he now becomes head. He is a past chairman of the associate dl‘i&ign of the Washington Real Estate Howard Moran. Position of Light Vital. For the woman who does her own housekeeping, the location of the sink, drain boards, ice box or refrigerator, and stove with reference to natural and ertificial light and to each other most essential. There should be some provision for carrying off the fumes from the gas range and gas oven. To lessen fatigue, it has been found that the front of the sink should be 34 to 36 inches from the floor. A corner kitchen, with windows in both outside walls, providing cross ventilation, has ‘many advantages. is Per Capita Building Gains, 1t is estimated that the average out- lay per person for construction in 1928 will be $32 or slightly more. Last year the capita average was $30; while in 1826 it-was $29. The fact that bet- ter ‘materials are being used to an in- creasing degree accounts for a part of the growth in per capita outlay. Visit the Hoover At the Ideal Home Exhibit or See our new low-priced HO F you have made up your mind to have only the clean- er th Agita for you! You can now get a “Positive Agitation” in a model priced at a new low figure. And you can pay for it in small monthly amounts. This new Hoove values we have yet offered. Call us up and we'll send one out to cle Only $6.25 down Complete with dusting tools Demonstration Booth, LANSBUR 8th and S 7th, | The Electric League of Washington, {tion, has arranged a section which will portray the story of electricity as it |applies to the “ideal fiome,” according to A. F. E. Horn, league president. Individual members of the league | [ have installed exhibits covering every | phase of electrical construction and in- |stallation and will demonstrate modern | electrical appliances and equipment de- | | signed to promote comfort, convenience | and enjoyment of the family. These xhibits will include the latest inven- tions in radio, mechanical devices for |use in the home and systems used in heating, refrigeration and cooking. A special booth has been installed at | headquarters of the Electric League | whose representatives will be present it | all times to discuss problems pertaining to electricity. In this booth there will be an exhibit of a fioor plan showing | clectrical installation in which minia- | ture lamps will be used to give the ~om- | plete effect. This plan will show the most useful locations for lamps and other electrical appliances and equin- ment as well a5 the location of switches ELECTRIC AIDS OF IDEAL HOME TO BE SHOWN AT EXPOSITION | relation to the entire home. 1and electrical outlets designed to pro- duce the maximum of comfort, con- venience and efficiency. A miniature “ideal home” will be set |up and fully equipped and furnished with electric lights and miniature elec- trical appliances, The model home will be so equipped that the visitors can get a complete picture of electricity in jts Another feature of the league’s ex- hibit will be the display of Christmas illumination of a decorative nature for both interior and exterior use. An educational exhibit of telephone service has been installed, in the electric section of the exposition under the di- | rection of C. T. Claggett, general com- mercial representative of the Chesa- | peake & Potomac Telephone Co. This demonstration will consist of a “cut-out” of a modern home showing the various | rooms in which telephone service has been provided, the main phone being | on the first floor with extensions in- stalled in nther rooms. Motion pictures depicting the various operations of telephone service will be displayed in conjunction with the ex- hibit. ;Historical Development of Was]‘lington | To Be Shown at Ideal Home Exposition A series of illustrations of the hi | torical development of Washington pre- pared by the National Capital Park and | Planning Commission will be displayed for the first time in the commission’'s exhibit in the ideal home exposition in the Washington Auditorium next week, | according to Maj. Carey H. Browa, | engineer of the commission. | In describing the exhibit Maj. Brown | said. “A map showing the location of Indian villages and work shops and the | holdings of the original land owners | indicates the condition of the site now occupied by the District of Columbia | before the actual construction of the | city took place. The plans of L'Enfante and Ellicott are so arranged that com- | parisons can be made of the various changes which occurred before the city | was_finally laid out. | riginal designs of the Capitol and White House and iHustrations of their condition in 1812 are contained in the | Dermoot. map, the only officially au- ous sections of the original site of the Capital. “A series of maps showing the de- velopment of the city will be surround- ed by illustrations of building construc- tion at the periods indicated. An illus- tration of the Washington Monument in_incomplete condition as it actuaily stood for many years and an early de- sign providing for a colonnade around the base, oddly ornate in comparison with the simple beauty of the monu- ment as 4t is today, is included in the exhibit. “Various stages of development and expansion of private property. as well as Government buildings, wili also be shown with particular illustrations of conditions between 1885 and 1901 and the more recent projects, including the triangle, municipal center and Capitol plaza. As a whole, the exhibit will vividly picture Washington of the past and give a clearer conception ot the Washington of the future based on de- | thorized plan of the city. as well 2= | contemporaneous illustrations of vaii- velopments and improvements now im- minent and in progress.” E. A. White, president of a large de- velopment organization, quotes the opinions of economists, financiers and | statesmen as to the wisdom of investing in real estate. According to B. C. Forbes “real estate has made more millionaires than any othcr line of business.” Marshall Field said: estate is not only the best wa quickest wey and the safest w the only way to become wealthy Andrew Carnegie said: “Ninety per cent of all millionaires become so through owning real estate. More money has been made in real estate than in all industrial investments combined.” . “Real estate is an st ever increasing in value. It is the most solid security that human ingenuity has devised. It is the basis of all security, and about the only indestructible security.” Hetty Green said: “I advise women to invest in real estate. It is the col- lateral to be preferred above all others, and the safest means of investing money.” Grover Cleveland said: “No invest- ment on earth is so safe, so sure, so certain to enrich its owners as unde- veloped realty. I always advise my friends to place their savings in realty near some growing city; there is no such savings bank anywhere.” William Jennings Bryan said: “Real estate is the best investment for small savings—more money is made from the rise in real estate values than from all other causes combined. To speculate in stocks is risky and even dangerous, but when you buy real estate you buy | an inheritance.” Theodore Roosevelt said: “Every per- son who selects realty in a well selected |and growing section of a prosperous | community adopts the surest and safest method of becoming independent, for land is the basis of all wealth.” Henry George said: “So far as we can | see with any certainty, the quality of value has longer and more constantly attached to the ownership of land than to any other valuable thing. Every- where, In all, time, among all peoples, the posséssion of land is the basis of | aristocracy, the foundation of great fol tunes, the source of power. * * Those who own land must be the mas- | ters of the rest. Land can exist without labor, but labor cannot exist without land. As population increases, as the competition for the use of the land becomes more intense, so are the owners | of the land enabled to get a larger and 'larger part of the wealth which labor “Buying real the Booth Number 78 OVER at embodies “Positive tion,” here’s good news Hoover with the revolutionary er is one of the greatest an a rug free. Street and Sixth Floors c « Bro ts. .anklin 7400 lWisdom of Investments in Realty Urged by Quotations of Noted Men | exerted upon it produces. That is to | say, the value of land cteadily in- creases.” RANDOLPH LEIGH BUYS 60 ACRES IN VIRGINIA Oratorical Contest Director Plans Erection of Colonial Residence on Site. Randolph Leigh, director of the In ternational Oratorical Contest, has pur chased a tract of 60 acres of suburba: land on the Virginia side of the Poto mac River above Chain Bridge, alon_ Pimmet Run. Mr. Leigh plans the construction of 2 Colonial residence on part of the prop- erty. The land was purchased through- the real estate office of John F. Jerman. The Reformed Church, established in New York City 300 years ago, now has 735 churches for it 83,720 families. Washington — o ) e o qufl“”u BULDING LSS REACH 150 AR Rise Slightly in September, Contractors’ Survey Reveals. Construction costs rose slightly dur- ing September, reaching the exact po- sition they held one year ago, according to statistics just compiled by the Asso- ciated General Contractors of America The rise was the third in four months. and placed the average of costs for the first nine months of this year slightly above that recorded for the correspond- ' ing period of 1927. The most recent increase is attrib- uted to higher prices commanded by basic_construction materials and to an increase in the average of A New Use for Radiator Space é *+*NEW ARTISTRY IN -+ RADIATOR CONCEALMENT BEAUTIFUL, finely fin- ished cabinet to fit over the radiator. A useful con- sole, or perhaps a window seat, instead of the bare radiator. TUTTLE & BAILEY all-metal Radiator Cabinets offer these along with such highly prac- tical benefits as protection against soiled draperies and smudged walls—direction of heat outward where needed most—proper amount of mois- ture in indoor air. Many models, all sizes, every finish. Mail coupon for particulars. Visit Our Booth at_the Ideal Home Exposition. George E. Terrell 1706 Connecticut Ave. ‘Washington, D. C. Teterhone Potomee 2436 air. George E. Terrell, 1.06 Conn. Ave.. Wash., D. C. Dear Sir: Kindly send in- formation resarding Tuttle & Bailey all-metal radiator cab- inets. Name..... Address Visit Booth 78 Better Homes Exposition Auditorium This Coming Week and See— ¢HOOVER It BEATS - as it Sweeps as it Cleans The extra cleaning speed, the extra ease, the extra thorough -ness of “POSITIVE AGITATION" -are now available to you not only in the 0 famous Model 700 Hoover, but in a lower- priced Hoover as well! Also Being Demonstrated Street and Third Floors— average of material prices assumed the | opened the current year on a plane | highest position it has occupied since | virtually twice as high as that which it | the early months of 1925 reaching | oocupied 15 years ago. It dropped lane in strong contrast to the com- °f gnrmvexy low one it held earlier this slightly during March, holding the lower | year. | level until June, when the first of a The increase in the average wages succession of small increases appeared. was the first to be noted since Febru-| A scale which places the average of ary of last year. Only four other in-|combined construction costs for 1913 creases and four decreases have been | at 100 as its basis shows the following registered since Midsummer of 1924, the indication being that a remarkable sta- bility has prevailed. The average of the combined costs of construction materials and wages : January, March. 197; April, 197: May, 198: July, 108; August, 200, 01. 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