Evening Star Newspaper, November 16, 1929, Page 19

REAL THE EVENING STAR, WASHINGTON, D. C, SATURDAY, NOVEMBER 16, 1929. SEARGH OF TTLE HELD INPORTANT Becker Tells of Work Neces- | | guests of the Alexandria, Arlington and | sary to Guarantee Pur- chase of Property. Title examinations have become an fmportant factor in connection with the transfer and ownership of land, accord- ing to James J. Becker, president of the Real Estate & Columbia Title In- surance Co., who discussed the subject of titles before the real estate forum at the Y. M. C. A. this week During the early history of the Na- tion the purchase of real estate was Guy N. Church, John A. Petty, Ashton| handled in a rather simple manner, Mr. | ON REALTY ROW Reports and Observations Concerning Business and gents. Virginia Realtors Hosts. Washington realtors last week were the | Fairfax Real Estate Board during an inspection tour of nearby Virginia ter- ritory and later at a banquet staged at the Washington Golf and Country Club Virginia developments and plans of the National Capital Park and Planning | Commission for beautification of the; Virginia section of the metropolitan area of the National Capital were dis- cussed. Those present at the dinner included the following: John W. Graham, Harry | K. Boss, Ben T. Welster, W. E. Mar- | tin, A. 'H. Lawson, K. A. Brumback, Dr. W. J. Showalter, M. E. Church, E. J. Mitchell, W. C. Jones, Robert H. Ros: | | | i | NATIONAL BANKS LOANS INCREASE [Real Estate Now Secures $700,000,000 More Than During 1926. National banks reported seven hun- dred million dollars more in loans on real estate in 1929 than they'reported in 1926, according to Herbert U. Nelson, executive secretary of the National As- sociation of Real Estate Board These figures are significant, says Mr. Nelson, for they not only mean that the enormous resources of the national banks are being made available for home building and other real estate an additional $234,000,000 had been | Joaned to home bullders and real estate | operators by the national banks. On | Jume 29, 1929, the loans on real estate, | other than farm lands, reported by 7,536 national banks totaled $1,104,- 220,000, or an increase of $766,837,000 over the 1926 figure, with 443 fewer banks reporting. Ail figures quoted above are for loans on other than farm lands, | The national banks reported $308,785,000 in farm land loans la June in addition to the billion on city property “Although there is no definite infor- mation to show that the increase of the | real estate business of our national banks is due to the enactment of the McFadden act, this law, after all, only | gave the banks the opportunity to place | | such loans if they so desired, and ap- | parently they did so desire immediately. | Gain in Percentage. | “On June 30, 1926, the total amount | of loans secured by real estate, other than farm lands, made by the national | anks represented 2.51 per cent of all | | the loans and discounts reported. On | June 30, 1929, the percentage of real | estate Joans to all loans jumped from {215 to 9.5 per cent. Home in Good Taste BY SARA HILAND. mistake, for there are a good many styles of this period from which to choose, any of which makes for a suc- cessful room. If it is early American or Georgian, the same is true. In the fllustration is shown a sofa designed along the lines of that master crafts- man, Sheraton. Slender of line, plea ing and graceful, this sofa is one which would be a delightful center of interest in an eighteenth century English room. The frame may be of mahogany or walnut with inlays of lighter woods, and the covering is most suitable if of a finely striped or floral brocaded mate- rial in soft shades. (Copyright, 1929.) Building Record Set. SYDNEY, Australia, Ncvember 16 (). —Building in Australia’s second largest city set a new record m the past 12 months, amounting to $87,500,000. New buildings erected in the suburbs num- with which Sydney is growing. REAL ESTATE. 19 g Fas] TELLSORPMNE || Speaker Addresses Meeting of Gold || Star Mothers. An illustrated lecture was given be- fore the American Gold Star Mothers | in the Cairo Hotel last night by Miss Elizabeth M. Haney of the Baltimore & Ohio Rafiroad Co., WLo spoke on the Western parks. A musical program was presented with Mrs, Oswald Barber singing sev- | | eral. soprano_solos, while instrumental | numbers were played by the Nordica Hawaiian Trio, composed of Prof. Wal- | ter T. Holt, Miss Annabel Bird and Miss Violet' MacIntyre. Mrs. R. E. Jacobs was chairman of the enter- tainment committee. | A meeting of the Gold Star Mothers | will be held at the Hamilton Hotel Tuesday night at 8 o'clock. | Of all mayors in Kansas, 23 per cent are merchants, while 23 per cent of all bered 11,316, indicating the rapidity | councilmen and city commissioners are merchants. HOME SITES Wynnewood Park Properly and carefully re- stricted, necessary improvements and shrubbery. Proper environ- ment for your children. Values established and increasing. Trees and Shrubbery Thos. E. Jarrell Co. Owners 721 10th Street N.W. nal 0765 developments, but they mean that thi " Teal cotate mortgage has found addi-| “The fact that the national banks| Almost the first thing thought of Honal fayor with the members of the | have placed more than $700,000,000 in | ¥hen the furnishing of the living room Federal Reserve System | real estate mortgages in the three years |iS to be undertaken is the sofa. for if The. aceociation just completed a |since the law permitted them to do so| this is chosen with care and the rest Becker pointed out. The acceptance of | Frieda Kenyon, George T. Reeve a deed was all that usually transpired | M. Throckmorton, Lansing Valk, Ben-| for the reason that in most cases the | famin J. Canby, James E. Shival, Lee | purchaser personally knew the owner D. Latimer, H. M. Brow! and knew that he had occupied the real | ceron. J. B. Bowling. W. A, - | of the pieces selected to harmonize estate and was therefore recognized as | the bona fide owner. | S. Hoge, jr.: A. M. Renshaw, Wwilliam A | Boss, Records Posted Daily. As population increased and other | general economic factors developed land values increased and evidences of title were multiplied. As a result purchasers required a somewhat more formal assurance in respect to the security of the title to the land they purchased. | This condition was met by attorneys .n the ordinary practice of law for a| corsiderable” number of years, but | eventually became so involved that it | proved most too cumbersome and title | companies came into existence. | The title company developed what is eommonly called a plant, in which they ma:ntain complete records showing the history of the title to every piece of | roperty located in the District of Co- | 1¥mbia. These records are posted daily nd embrace a transcript of deeds of | al types as well as all court procedures | at directly affect legal ownership. | An exantination of title as conducted by a title company simply determines the status of the owner's title at a| given time. It is a verification of the | abstract or chain of instruments through which titles pass from one| owner to another and through which mortgages and other liens are recorded against the property involved. Special tems, such as equity actions, probate court causes, taxes, etc, are also ex- amined. Construction Is Vital. The construction of deeds and mort- gages is vital in considering the question of title to land and a_thorough knowl- edge of the law in this connection is necessary, it was pointed out by Becker, to insure accurate compliance with all Jegal requirements when preparing such documents. As a general proposition of law, the transfer and acquisition of title to real estate is governed by the| Jaw prevailing in the place where the Teal estate is situated. Ir: the preparation of deeds, Becker stated. it is essential to know that the grantor possesses the right to sell and convey and that the phraseology of the deed be such as would actually convey to the grantee. Accurate descriptions of the property conveyed must oe incorporated in the deed and all requirements as to signatures and acknowledgments must be complied With. Sometimes an apparent slight oversight_in failing to comply with some of the technical requirements has & rather serious effect on the title, which may subsequently involve considerable 1ime and expense to clear up, he said. The subject, “Selling Real Estate, will be discussed before the forum Tuesday evening by John A. Petty, executive secretary of the ‘Washington Resl Estate Board. $10,525,200 IN PERMITS. Baltimore Reports on Home Build- ing for Ten Months. Epecial Dispatch to The Star. 8 BALTIMORE, November 16.—During the fifst 10 months of this year permits were granted for the construction of 2,528 dwellings in Baltimore, according 10 a report of the building inspector's office. The total value was $10,525,200 The two-story brick houses head the list in home construction. In the 10 months permits were granted-for 2,053 houses, the total cost of which was $7,962,200. Four hundred and sixty- one two-story frame dwellings costing 42,205,000 were also permitted. During that period 14 three-story brick houses were erected at a cost of $268,000. . Soft-coal , production in 1928 had slumped more than 24,000,000 tons as compared with 1923. —_— ( INVITING YOUR INSPECTION of one of the homes ever built in Chevy Chase 3232 RITTENHOUSE ST. AN 90 ft. from the street ine rooms, three baths, first floor den and lavatory, large side porch, center hall 10 ft. wide, spacious bedrooms (master bed- room 22 ft. long), attic, pantry, made-to- order kitchen cabinet closets cedar lined, figured sanitas walls in baths, electric refrigeration. for two cars. | Foster, Ralph Howenstein, Leonard EW Colonial brick residence set back Charles D. Sager, Frances Jesse W. Rawlings,” Archie T. Donohoe, Joseph M. Hausler, George R. Dickson, L. T. Gravatte, R. G. Hughes, Frank Phillips, Fred Chase, Thomas G. Wall, jr.; Quinton L. Comer, W. J. Fin- ley, M. J. Donohoe, Charles W. Smith, J. B. Deming, E. N. Snider, Marie E. ‘Winston. { Joshua Evans, ir.. Ruby Lee Minar, | Albert J. Love, C.' U. Sitch, Horace Browning, F. George Clendaniel, C. H. Galliher, Fred T. Nesbit, William J. Drew, Thomas L. Phillips, Richard D. Stimson, J. C. Weedon, jr.; L. F. Col- bert, John Bohlayer, L. H. Brodie, Manly McLaughlin, Luther Linkins, J. Hawley Smith, John F. Webster, Fred W. Smith, N. A, Darling, Robert Kane, Joseph C. Zirkle, O. E. Goddin, G. E. Eakin_F. C. Goodnow, F. A. Gosnell, Fred Hugast, George A. Fisher, Joseph F. Horning, R. R. Bassett, T. J. Brum- back, L. Michael, A. C. McMillan. Hamilton Smith, William B. Dorch, B. M. Bridwell, Albert Small, Walter | Hermann, James A. Sommerville, P. Miles, George W. Reynolds, George K. Pickett, C. S. Batchelder, W. E. Bowen, R. M. Taylor, Richard C. Zan! zinger, Homer Phillips, M. P. Corby, M. E. Groome, J. Roberts, C. W. Clever, O. E. Ryan, C. W. McKenkel, Otway B. Zantzinger, jr.; Arthur O. Buell, J. Francis Moore, Charles B. Caywood, Paul Crandall, Hugh L. Buckingham, Carroll Wright, Sidney E. Kent, Jacob L. Linkins, Leroy Geddes, jr.; Henry Morris, John L. Whitmore, D. R. Weed- on, Edward K. Jones, Daniel G. Joseph, Franklin D. Zantzinger, Sherman Hol lingsworth, Joseph F. Horning and J. G. Beitzell. Architects in Session. The Washington Chapter of the American Institute of Architects, at its meeting Thursday evening at the Cos- mos Club, had as special guests D. Knickerbacker Boyd and Victor D. Abel of Philadelphia, who discussed plans of the Quaker City architects for a permanent exhibit of builders’ materials and supplies and of plans for an archi- tects’ building there. Horace W. Peaslee, former president of the local chapter, gave a talk on his recent trip to Europe, detailing some impressions of architecture gained from the tour. BIG CONTRACT INCREASE. Contracts let for heavy construction and engineering work throughout the country for the first ten months of the, current year were valued at $3,- 551,439,000, or 17 per cent more than the value of awards for the corre- sponding period of 1928, the Engineer- ing News-Record reports. This, despite the fact that October lettings were 18 per cent under the weekly average for the January-Octo- ber ?ennd and 4 per cent under the weekly average of last year. Awards in October were valued at $329,934,000, which compares with $325,634,000 in October, 1928. RENT SITUA'I:ION BETTER. In Cleveland, during the eight- month period just closed, “For Rent advertisements have decreased 28 per cent, as compared with the same period | of 1928, while the “Wanted to Rent” advertisements increased 21 per cent. In September, 1929, “For Rent” adver- tisements show a loss over September, 1928, of 55 per cent, while “Wanted to Rent” advertisements gained 40 per figures, collected by the Cleve- ay League, indicate clearly that the approach of a “housing shortage” is more real than fancied. most beautiful on a lot 60x189. unit with tiled sink, all Brick garage check-up to see if the passage of the McFadden act. in February, 1925, per- mitting national banks to lend on real estate for five-year periods, had re- sulted in any new money being put into the realty field. Prior to 1925 the law permitted na- tional banks to make only one-year loans on real estate, and because so few real estate loans can be made ad- vantageously on such a basis, the na- the realty field. Increased Millions in Year. “On June 30, 1926, the total amount of loans secured by real estate made by 7.978 national banks was $337,393,000, says Mr. Nelson. had been operative but four months A_year later, on June 30, 192 3209 Oliver St. CHEVY CHASE, D. C. Only $12,750 Here is onc of the most striking and ap- pealing new homes that we have seen in many a day. Built of brick and frame, it has a large liv- ing room with open fire- place, attractive dining room and a kitchen equipped with Frigid- aire, electric dish washer and many other special features. ‘There are 3 bedrooms and 2 beautiful baths, and a floored attic. Open fireplace for den in basement. ~2-car garage to match house, All closets have electric lights and the electrical equipment of the house is superior to_ most houses at twice the price. If you want one of the most charming, most complete and at- tractive homes you have ever seen, don't fail to inspect this house. Open Sunday 10 AM, Till Dark Drive east from Comnecticut Ave. to 33rd St.. thence north to Oliver and turn right to No. 3209. o MKEEVERmGOS G i 1415 K 8t. N.W. Nat'l 4750 3 4. The price. tional banks were not conspicuous in | indicates that they will provide more | funds for home building and real estate | developments in the future. And the fact that these banks have examined the real estate mortgage and found it|which to choose, and at first the task good is one more tribute to the sound- seems almost overwhelming. But when the style of the room is decided upon ness of urban real estat “The McFadden act | 1437 IRIS ST. A New Detached Brick Residence in 16th St. Heights—Just Off 16th $20,000 HIS beautiful individual type home com- pares, both in construction and excellence of appointments, with homes that are selling at considerably higher prices in this exclusive section. . . . The appealing design and un- usually tasteful decoration of the house will immediately impress those who seek the dis- tinctiveness that characterizes a home out of . . . Eight rooms, two baths, electric refrigeration, garage, lot 132145 fi. the ordinar; deep. > ACLS 1418 Eye St. N.W. superior construction. 2. The unusually large lots. The location—the highest point in the pit s 3 with it the entire rcom has a feeling | of harmony and restfulness. Open Sunday 10.to 6 P.M. Drive Out 16th St. Beyond Walter Reed Hospital to Iris St. House Just Off 16th St. to the Right Exclusive Agents There are all kinds of sofas from ® LT i L appointed home. acter and simplicity of design. proximately 10,000 sq. ft. $36,500—nowhere can you find its equal. Brick garage for two cars. Open Sunday, 11 to 6 3215 Cathedral Avenue Massachusetts Avenue Park First showing of a beautiful colonial brick residence that is distinctive in its char- Many interesting innovations, careful decorative treatment and painstaking care to every detail establish a precedent in the con- struction of a speculatively built home. Its generously proportioned rooms and cheer- ful atmosphere thruout radiate solid comfort. There are ten main rooms, three baths, first floor lavatory, sunroom or library, recreation or billiard room with fireplace, porches, model kitchen and many features that add to the convenience of this well Beautifully wooded and attractively landscaped lot containing ap- For location and price— Schwab, Valk & Canby 1704 Connecticut Avenue Potomac 0830 . Sansbury C(‘HPANY INC, Nat'l 5904 “WALTER A. DUNIGAN QUALITY BUILT HOMES”: 4 REASONS Why They Are Selling Fast 1. The advanced floor plan (6 large closets o .'_?_rgl floor) and AU ’ HE Early type Colos American Home in Rock Creek Park Estates faces upon the Park itself. A true-to- ial dwelling is this home—a livable home with comfortable verandas, View From Arched Veranda of Early American Home fronting Here is nature in its ine fancy . . . Early America . . . trees old as the hills they crown . . . sparkling sky-reflecting streams . . . quaint, rustic, rambling }3___ the Park itself. low sloping roofs and hospitable doorways that frame charming glimpses of Rock Creek Park. bridle paths . . . silhouetted hill tops . .. a natural Eighteenth Century landscape to emphasize the archi- tecture of this Early American home adds a touch of detail to complete its Colonial atmosphere. What an appropriate setting for this Early American Home—situ- ated in Rock Creek Park Estates— The home will be open at 10:00 o’clock today for your inspection. Motor out Sixteenth Street or take the Sixteenth Street Bus to Kalmia Road, whick brings you to the emtrance of the Estates. I made a Radical Change in this new group. The advanced sales proved its practicability. After carefully weighing the suggestions of our own buyers and prospective buyers, I planned this new house. There are no Small Rooms. ‘The Old “Bugbear” about the Small Hall Room has been eliminated in this house. Tt becomes a Real Room. Whether you are a prospective buyer or not, do not fail to inspect the Exhibit Home— 4220 37th Street N.W. In this beautiful subdivision of North Cleveland Park, these four-bed- room and two-bath homes at their price are the last word in value. TO REACH—Drive out Connecticut Ave. to Van Ness St., west to 37th St., ome block morth to houses, or out Wisconsin Ave. to Van Ness St., east to 37th St, ome block morth to houses. Open and Lighted Daily and Sunday Until 9 P.M. Walter A. Dunigan Owner and Builder Phone National 9530 OCK CREEK PAR - ESTATES You Enter the Estates at Sixteenth Street and Kalmia Road EDSON W. BRIGGS COMPANY Owners 1001 Fifteenth Street at K A _featurc mever before incorporated by a Washington buflder —Old_English den with Sugi treated cypress walls and decorative wall fresco. Open Sunday Until 9 P.M. Turn Right on Rittenhouse St. at Chevy Chase Circle C’ C'c'o';.p;\%fiéum | W ! 1418 Eye St. NW Exclusive Agents Carlin and Clendaniel, builders i Office on Property Telephone National 5700 1603 Kalmia Road for an Inspection Nat’l 5004 925 15th St. TR R