Evening Star Newspaper, October 26, 1929, Page 14

REAL ESTATE.? EALTY FINANCE (BUILDING PERMITS " CHANGE OBSERVED New Trend Reported Coming i Into Popularity on Big i Business Basis. [New St. Gabriel Church In- TOTAL $458.000 cluded in List to Cost $250,000. b 3 | + pvidently these had to do with opera-| $ions of the larger type. The details of ¥ ghis study are shown in the tables. Some of the significant conclusions Sfhat may be drawn from the examina- 2 fion of these 50 issues are: That there| Shas been a marked decrease in the num- | Shber and amount of straight first mort- Sgage bond issues; that the practice of :jhmncmg by means of stock issues or by | sksues with stock warrant or conversion L features is on the increase, and that it {5 probably here to stay; that the use S¢f the leasehold first mortgage in larger 3 dities is growing rapidly; that the group Sproperty movement in a great variety S forms is assuming large proportions; Ythat improved devices and increased fa- Lellities for secondary and equity financ- Sing are now available to the realtor; <“that many new types of securities are SBeing offered in an effort to conform Sissues to the public's speculative taste; “that an increasing number of large in- *vestment banking houses are interest- ing themselves in real estate issues; Tthat there is a decided tendency on the part of large builders, operators, con- Lstruction loan companies and other tsimilar organizations to put themselves “in shope financially to meet the require- iments of today’s larger operations; that igeal estate issues are being written for Hbnger terms, 15, 20 and 25 years being Mhe prevailing periods; and that funds s@re being obtained from the public for i larger variety of purposes, connected | Mwith the real estate business, than at| tany time heretofore. L ! Probably the most important conclu- on of all is that the public is invest- Jng in real estate securities on an in- iqreasingly large scale, and that there a marked tendency for the investor Jp take his place alongside the owner, thack of the first mortgage. Interest ~rates have increased slightly, as has the Sgost of securing capital, and, for the ftme being, issues are more difficult to Jarrange. But this is due, in large meas- Nire, to the present uncertain conditions 1 the money market as a whole. Effect of Changes. ‘What effect will these changed finan- sding conditions have upon the real tate business itself? It is evident, st of all, that with the public as a partner the realtor will be in & posi- n. to accomplish greater undertak- ngs than ever before. This, however, imposes certain responsibilities. Part- ners are, of course, interested in the Aech in which they are investors. quite natural, therefore, that much Adoser scrutiny will be given new un- takings to make certain that unwar- inted charges and profits are not put to the cost figures; that new develop- ts are carefully conceived and well frame dwelling, 5000 Meade street northeast (lot 800, square 5202); to cost $3,000. National Co., owne: to remodel 1429 New York avenue (lot 8, square 222); to cost $3,000. ‘Washington Railway & Electric Co., owners; Barber & Ross, designers and builders; to make repairs, car barn,! Fourth and T streets northeast (lots 19 to 34, square 3615); to cost $1,000. Otto W. Hammond, owner, designer and builder; to erect one 1-story frame dwelling, 4212 Twenty-second street northeast (lots 16 and 17, square 4231); to cost $1,800. Graham Realty Co., owners; J. L. Parsons. jr., builder: to enlarge pent house on roof, 1147 Connecticut avenue (lot 815, square 162); to cost $1,000. Dr, James F. Mitchell, owner; Davis, Wick, Rosengarten Co., Inc., builders; | to construct passageway, 1344 Nine- teenth street (lots 48 and 810, square 115); to cost $1,000. J. B. Jones Co., owners; J. L. Par- sons, jr., builder; to enlarge balcony, 1219 G street (lot 45, square 288); to cost $1,000. Savings & _Trust are skillfully designed and well con- structed, and, most important of all, that properties are scientifically man- | aged, for after all it is satisfactory net | profits that are going to hold the in- terest of the investor and these are de- pendent largely upon the competent operation of his investment. And finally, it would seem that pres- ent conditions are a challenge to the realtor, himself. ‘Through fortunate circumstances the general investing public has become interested in purchase and financing of desirable properties in a bigger way than ever before. ‘This trend should mean un- paralleled opportunity for the entire real estate business. But this movement has just started. It must be fostered. Thousands of in- vestors who have never been interested before in real estate securities can be induced to _join the ranks of those who now are. The investing public will stay in the real estate game just so long as they get attractive financial returns and fair treatment. The personal re- sponsibility of the realtor is to see that the field of real estate investment is made attractive, and that it continues to be so. Unsound projects should be discouraged; attempts at overfinancing and dishonest Apgn.hln[ should be frustrated if possible, and mflurhm management of properties should be advocated. One losing venture un- loaded on a public whose confidence has been gained will destroy more good than the promotion of a dozen suc- fmdapted to the purposes for which they 2dre intended; that proposed buildings cessful operations will create. By Sale or Exchange about five miles from ideal for a high-clas: port. Valuable sand and Buildings all in W con. on barn, hold tons im story brick, circular, 56 feet in width, construction, with large ir which at one time was own only. $125,000., 1519 K St. N.W. Historic Hayfielil Farm, a gentleman’s Country Estate in Fairfax County, Virginia, frontage on good road. Estate containing 500 acres, of which over 400 acres are cleared. The cleared land is level and stock farm, golf links or contains many thousand loads good for road building. nd contains 37 horse stalls, sepa- rate stallion stalls; other buildings are wagon sheds, blacksmith shop, hog runs and chicken house. Flow= ing spring water piped to barn and hog run. Eleven- room farm house, with good well water. Main entrance to estate is of attractive design, The Virginia State Historical eight pages to the history of We will exchange for approved business an apartment house property, subject to one trust Farm is clear of encumberance, W. H. WEST COMPANY s; R. P. Whitty Co,, Inc., bullders; | Alexandria, with mile gravel pit on the place, dition—large double octa- hay, large silo in center, brick and white concrete on gates. Society devoted this famous_ farm, ed by George Washington. Price, National 9900 Jameson-Built 6, 7 and 8 Large Rooms Now Ready for Inspection 415 to 445 Jefferson St. N.W. 914 Quincy St. N.W. 1521 to 1527 Isherwood St. N.E. Isherwood St, One Square FOR . 906 New York Ave. “Ask the Man A OIS OITS IO LTI IS > THOS. A. JAMESON CO. Model Homes North of 15th and D N.E. Inspect at Once The architecture of the fine homes has been carefully designed and selected by our experts of superior home de- signs. The material also has been carefully selected. All labor furnished by skilled me- chanics of the best grade. These homes contain six, seven and eight large rooms, tile bath and built-in tub and shower, one-piece sink in kitchen, extra large porches front and rear. Oak floors, latest fixtures; floor plugs in each room and lots of extras. Frigidaire and Garage With Each House ALE BY National 5526 i i g | : Who Owns One” THE EVENING STAR, WASHINGT! WILLIAM K. HARTUNG. HARTUNG GETS NEW REALTY POSITION Joins Staff of Wardman Corpora- tion, Resigning Post With Shan- non & Luchs, Inc. Willlam K. Hartung, engaged in real estate business in Washington 16 years, ,has resigned his position with the firm of Shannon & Luchs, Inc., and has foined the staff of the Wardman Cor- poration, it was announced today. Mr. Hartung is to handle high-class business transactions in his new posi- | tion. He started work in the real estate | business with 8hannon & Luchs in 1913, when that firm was 6 years old, later setting up in business for himself. About two yeass ago he again became assoclated with Shannon & Luchs as vice president and director of sales. Mr. Hartung has been a resident of Washington since 1893. RS Big U. S. Trade in Latin America. ‘The United States, a pocr third in 1900 in Latin-American trade, now buys and sells more goods there than Eng- land, France and Germany combined. C., SATURDAY, O HOUSE DECORATION. Architect's Work Declared Not Ended With Plans. BY WILLIAM HARMON BEERS. Many people think that the architect has fulfilled his work when he has de- signed the house with its bare walls and that the finishing of the room calls for different talents than he possesses. This, to me, is an entirely erroneous idea and exceedingly hard on the archi- tect. Many a beautiful house has been entirely ruined by execrable taste in | finishing the rooms. | Unfortunately, most persons are proud of their own taste and think they should be permitted to make the room they live in exactly as they wish. Of course, that is their right, but it is |also their right to make the second | story of their house Louis XV and the first story QGothic. Why should they not avail themselves of the experts’ knowledge in finishing their rooms as in planning and designing the house? D. people go wrong—that is, the colors used In the various rooms, Color is a subtle thing and should be handled A room which opens scheme which more of less harmonizes with it. Curtains, hangings, rugs and chnl;ls should all form part of the en- emble. 000800000000 0000000000000000000000000000, This house will appeal to the most critical buyer, if looking for rooms that are large enough to furnish well. &8 Large and Well Proportioned Rooms. 2 Complete Baths. Roomy Kitchen. Built-out Pantry. Real Open Fireplace. Abundance of Closets. Large Finished Attic. Cold Storage and Coal Bin under Cement Front Porch. Large 2-Car Built-in Garage. Best of Decorations and Fixtures. P YOU ARE CORDIALLY INVITED TO INSPECT > 1226 14th St. N\W. 0000000000000 00000000090900000000000090000090000 —Just Completed— SOUTHERN EXPO! Note the Substantial Construction 1303 Floral Street Northwest (Just off Alaska Avenue) Open Sunday to 9 P.M. “MORE VALUE FOR LESS MONEY” < APLE & JAMES, Builders 0000000000090 000000800000000000000000000000000000000000 Inc. North 0962 HANDSOME NEW DETACHED BRICK HOME OPEN FOR INSPECTION SUNDAY 618 Fern Street Northwest Two squares from Ga. Avenue and about 3 squares from Walter Reced Hospital Excel]ently constructed and conveniently pllnncd. enioying the benefit of a large lot Six large rooms and tiled bath with built-in tub: everal wardrobe closets on second floor: inviting open fireplace in living room; oak floors throughout, hot-water heat and electricity; out- side pantry: completely equipped basement, including servant's toilet and instantancous heater for service water; large covered porch with concrete floor: separate garage. Location especially desirable, being in close proximity to churches, school, stores and transportation, Priced $9.750 on reasonable terms BE SURE TO LOOK IT OVER TOMORROW i H Saunders N 1016 REALTORS 433K sTae - Established 1587 Take an example where so many | Priced from $10,750 to $11,950 REAL ESTATE." C. H. Small & Co. 5811 7th STREET NORTHWEST (exhibit home) This new group of semi-detached brick homes reflect the last word in beauty, quality and workmanship. Conveniently located near two car lines, stores, churches, both the highest point in this new and popular section. from the bedroom windows). They are to be opened for the first showing today raded and L\xninr high schools and on (You can plainly see the Washington Monument Overlooking the new Fort Slocum Park adds further charm to these substantial homes, Six, seven and eight big bright sunn lavatory for the master bedroom. rooms, built-in bath, shower, and of course, the convenient extra ak floors throughout, natural wood trim, very large and deep lots, open fireplace, large pantry, electric refrigerator, hot-water storage tank and newest model heating plant. he garage being built-in beneath the sun room leaves the big and well ventilated cellar for the extra toilet, laundry, coal bin, preserving room, ete. We invite your inspection OPEN 10 AM. TO 9 P.M. SUNDAY AND EVERY DAY FROM 2 TO 9 ional Press Building To reach: Drive out 7th Street to 5811 and See Our OPEN SIGN HOOKER & JACOB Metropolitan 2663 The Ideals of Our Colonial Forefathers Are Finely Devel- oped in This Stately Home in Forty-Five Twenty-Three Hawthorne St. $27,500 The lot fronting 80 ft. by depth of 190 ft. will afford a wonderful place for your children to True to tradition, the house has with_Colonial stairway to secon FOUR WELL APPQINTED BEDROOMS AND on Show he third floor, with h & room wit built-in book shelve is & tile floored sun room. and bath for the maid. The Tt of e and in rear 1 £ many wonderfu play in safety and freedom. VACANT Open All Day Sunday o A 8 AND 7 BATHS, ) ing the dining There is & com| UR buil PREMISES, Sl PS Realtors Natienal 9300 house 3 Wit B gts " south 1417 K St Ave.. left on t., ln“fihow nfll"fllnl’l' :‘- The Electric House at 6203 14th St. N.W. In Sheridan Park Sponsored by the Eleceric League of Washington Furnished by Premier Furniture Co. 425 7¢h St. N.W. Oi] Burners and Electric Refrr'geratr‘an Ofpen Daily unt:1 10:00 P.M. Drive out 16th St. to Sheri- dan St., then 1 block east WARDMAN 1437 K Ste. Districe 3830