Evening Star Newspaper, April 19, 1930, Page 17

"REAL ESTATE’ — MARCH BUILDING SHOWS INCREASE 46 Per Cent Gain Over Feb- ruary Indicated in Straus Report. That building construction through- | out the United States has definitely | taken a turn for the better was indi- cated in official reports recelved by . | W. Straus & Co. showing a 46 per cent | gain in March over February. Building | permits issued in 583 representative cities and towns in every part of the | country totaled $187,270.891 compared with $128,043.217 in February. Straus reports that: | “Bullding permits for March, 1929, | amounted to $408931,092, which !ti first glance would appear to indicate 8 drastic decline in building activity this year amounting to 54 per cent. Had March, 1929, been a normal month in the building industry, this decline would preclude any possibility of an encour- | aging interpretation -of the figures. | However, it should be remembered that | during March of last year an abnormal volume of builéing plans, more than | $170,000,000, was rushed through and | filed in New York City because of the pending multiple dwellings legislation | at_Albany. ! “The significance of the 46 per cent increase in March over February lies in Norman architeetural KALORAMA ROAD HOME IS SOLD | TO MR. AND MRS. SOUTHGATE| Kalorama road has been purchased by | dining room. On the second floor are | Mr. and Mrs. Richard Southgate from |six large bed rooms, four baths, two | greatly aided twentieth century people F. M. McConihe & Co., Inc., the builder. | dressing rooms, en suite with the bed | to achieve home ownership there. | ‘The house is bullt of local field stone | rooms. Four servants’ rooms, bath and the fact that the normal expected in- crease from February to March is only about 37 per cent. The March increase further compares favorably with a loss of 2 per cent from January to Februa 17 per cent from December to Januar; 19 per cent from November to Decem- ber. and 23 per cent from October to November. The reports constitute the most _reassuring indication so far re- ceived that the building trend has turned the corner and is headed up- ward. “Building material prices were gen- circular tower as the main features of the frontal facade. The rear elevation is featured by five stone arches, which form exits to a garden from the gallery. Large trees form a framework for the dwelling. On the first floor are the entrance THE EVENING STAR, WASHINGTON, D O, GROUND-RENT PLAN 1S STILL IN USE 99-Year Lease System, Withi Perpetual Renewal Clause, Is Employed in U. S. People who think that all remnams: of the medieval feudal system have dis- appeared from our modern lives may | be surprised to know that land in the States of Maryland, Pennsylvania and parts of Ohio is handled somewhat | | as it was during the time of William | the Conqueror. Only now folks pay | for such land in cash instead of in| tobacco, arrows, or skins of wild | animals. This is the ground-rent system used | in England during_feudal ‘times and | | still used in the States listed above. | | says the National Association of Real Estate Boards. leasing ground for a period of years, This is a system of | usually 99 years, with a perpetual re- | The large house of English and | gallery, two dressing Tooms, two guest | lines at 2406 | lavatories, kitchen, pantry and servants’ | | floor. | In’ the basement are a chauffeur's | room and bath, laundry, boiler room, | storage space and three-car garage. | the agency of Stone & Fairfax, Inc. | The house was designed by George N. y. hall, a drawing room 35 by 20 feet, the Ra: ADVANCE N HOME Conference express satisfaction with ization operations of recent months, but declare, in a letter to Mr. Barnes: the results of the pressure for modern- | newal clause, at a stated annual rental. | It differs from the long-term lease in | that the long-term lease does not carry | any perpetual renewal clause. The City of Baltimore is so wedded | to this plan that it believes this system, | used by the ancient land barons, has | When Lord Baltimore obtained the | with & heavy oak-timbered gable and a | large storage space are on the third | grant of Maryland in 1633, he became | the owner of the land and all the in- | habitants became his tenants. So he | transplanted something of the English | feudal system to America. Real estate Tentals were paid in tobacco, hides, e | and the leases were renewable forev | The renter was entitled to full posses- sion and use of the land, and as long | as he met the “ground-rent” payments | he_could not be disturbed. | But when the first 99-year leases be- | gan to expire, Maryland courts held of the execution of the lease: this to be done at the option of the lessee at a sum equal to the capitalization of the ground rent at 6 per cent unless some other amount not exceeding 4 per cent capitalization was provided for by the partles to the lease. This act was amended in 1888, Te- ducing the 15-year period to 10 years and requiring the lessee to give six months notice in writing of his option to redeem. In 1900 a third act was passed making all rents created after April 1 of that year redeemable after five years at 6 per cent on 30 da: notice. In 1922 business interests of Mary- land began an agitation for the right to make 99-year leases in the business ch-‘ tions and in Jupe of that year an| amendment to the other acts was TURDAY, APRIL 19, 1930. passed which stated that the redeem- able features of the lease laws should not apply to leases or subleases on property used exclusively for business, commercial, manufacturing, mercantile or industrial purposes. properties, as well as residential prop- erties, remained redeemable. “Ground rents afford a ready method of financing homes,” the association declares. “In most cases the land upon which the home is built is held by lease, the fee or reversion being owned by an investor who receives a yearly rental from it. The purchaser of a home can obtain a loan from a building associa- tion, secured by a mortgage on his leasehold and on the building located on the land. He agrees to pay weekly to the building association a propor- tionate amount of ground rent, taxes, ONLY ONE LEFT 36 Built—35 Sold Come TODAY—Or Tnspect 1213 Owen St. N Open Daily Until 9 P. M. Six large rooms, tiled bath Oak floors, hardwood trim, beautifully panelled walls. dazzling white kitchen with inlaid linoleum floors. Paved Street and Alley Only 7,975 Very Easy Terms R. E. Kline, Jr., Owner 718 Union Trust Bldg. OR ANY BROKER You'll Be Too Late. E with shower, built-in garage. A Nat'l 6799 The property was acquired through j leases were made then for 99 Vears, | - segmes) ToSMIT TSSGENSED]TTSGENSID CISEESI ISR SRR TISEEREID 1SN " ettt e et e A Colonial Detached Home Apartment | 1 | REAL ESTATE, interest on the mortgage and of pa: ments on the principal. The associa- tion then remits the rent to the holder of the ground rent and pays the taxes {and other charges for the borrower and retains the interest and prineipal payments on the mortgage. “The home buyer is saved the cost small annual Detached and Semi-Detached Six large rooms with windows placed to make them worthy to be called “Sunshine Homes." Perfect tiled bath, with all built-in fixtures, fully equipped kitchen, With Armstrong inlaid _linoleum double cemented to floor. White enamel range, pantry, Frigidaire, and hot- water heat control. TO INSPECT—Drive out eithe: St. to 10th St. to houses. BREUNINGE 1 B—3 sum for its use instead. Of the end he has no equity in but he has been able to providé for his family for as long as | live, whereas if he had to purchase ground he might not have n_able to handle the transaction. Moreover, he may buy the land at the eRd of five years, if he so elects. QUESTION. £ YOU MAY . ASK— about homes CONSTRUCTION DESIGN FINISH are all you could demand on Beautiful Landscsped Lots AND THE PRICES WILL SURPRISE YOU Come and See the Reasons Why Here Are Some of Them: Concrete, front and two rear a-in. floor, laid at right angles over Ta-in. sub-floors. Both floors tongue and groove. You select your own lighting fix- paper tures and wail Brick garage, will hold any car. Furred walls concrete alley. r R. I. Ave. or Michigan Ave. to porch ol Extra large lots; 12th St. N.E., then north on 12th St. to Taylor St., then on Taylor R & PHIFER In Chevy Chase erally firm in March with increases re- that they were perpetual in practice “The time now has come for impres Nat’l 7713 ported for several important items, such as cement, brick and hollow tile, lime, sand and gravel, cast iron pipe and sewer pipe. “Some of the price increases such as in brick are due to the efforts of mer- chants to take advantage of increasing building awards. Other price increases such as that in cast iron pipe are due to increases in freight rates. “The increase of building permits during the month of March, an indica- tion of increasing building activity, has already been attended with some im- provement in the unemployment situa- tion in the building trades. “The American Federation of Labor reports 356,488 of its 848,686 members in the building trades division out of work in March, as compared with 364,- 934 unemployed in the month of Febru- ary. Though there is here shown a de- crease in unemployment of over 2 per cent in March over February, unem- ployment is still 23.5 per cent greater than in March, 1929 AIR FIGHTERS READY TO BATTLE “INVADERS” ‘Will Open United Offensive Against “Red” Enemy Forces in Califor- nia Maneuvers Next Week. By the Associated Press. SACRAMENTO, Calif, April 19.— Having completed three weeks of inten- sive preliminary training here, planes of the Army Air Corps first provisional wing are to n a united offensive against theoretical “Red” enemy forces next week. The “enemy,” for the purpose of operations, is assumed to have control of all Southern California up to a line ex- tending across the State from Monterey Bay through to Stockton. The “Red” forces are driving north- ‘ward upon Sacramento and San Fran- cisco. The United States air fighters, based at Mather Field here, are to assist ground and sea contingents in re- pelling the invaders. BUILDING IS URGED Barnes Makes Appeal Business Stabilization Campaign. in ‘The force of President Hoover's drive for business stabilization and unem- ployment relief this week was placed behind -the development of prudent new residential construction. Julius H. Barnes, chairman of the board of the United States Chamber of Commerce and chairman of President Hoover's national business survey con- ference, this week wrote presidents of chambers of commerce throughout the United States asking their co-operation to_this end. Mr. Barnes supplemented this appeal by declaring t is generally recognized that construction is one of the most important factors in our economic structure. “It has been gratifying to see the business world give recognition to the fact of our fundamentally sound economic conditions by pushing the work on necessary industrial construc- tion and to have similar action taken in the case of public building. “While industrial and public building represent a large part of the construc- tion industry’'s activity, residential con- struction is a vital factor. Renewal of activity in this fleld means employ- ment for a great many more than merely those engaged in construction and allied lines—important as they are. A high gemnu(e of individually owned al security as well Chairman Fenton B. Turck, jr, and other members of the executive com- mittee of the National Building Survey New Detached Brick Homes CLEVELAND PARK 3721 Porter Street 3501-3505 Reno Road (Corner 34th & Priced Ordway Streets) to Sell! Open Daily & Sunday 10 A.M. to 9 P.M. Schwab, Valk & Canby 1704 Conn, Ave. Potomac 0830 The Safest Place TO Invest Your Funds and The Best Guarantee Aga;nst the Uncertainties of the Future Every Family Benefits From the Wholesome, Happy Atmosphere of Their Own Home Here You Will Receive Greater Returns Upon Your Investment Than in Any Other Manner SIX AND SEVEN ROOMS—BUILT-IN GARAGE Priced as Low as Homes in a Row Exhibit Home: 4103 13th Place N.E. A Comparison Will S atisfy You of the Very Unusual Value CHARLES M. WALLINGSFORD Builder 1010 Vermont Ave. N.W. & Owner Nat'l 2990 ing each community with the feasibility of local emphasis at this time upon prudent residential building.” The modernization drive, it is be- lieved, will be resumed with renewed vigor after the seasonal peak for new | construction has passed. In the mean- time, to quote Mr. Barnes: If the seasonal resumption of resi- dential building, wherever prufient, can be advanced by a few weeks, it will con. tribute materially, not only to the im- provement of local conditions, but to general business stabilizatios | | | | (. 5405 39th (East Side of 39th Street, J kitchen, 2-car garage on The Price Is Chevy Chase, D. C. This lovely new center hall brick house is one of the finest offerings on the market today. two beautiful bath rooms, wonderfully equipped Open Saturday Afternoon and Sunday After 10 AM. | and that a lessee could stay in posses- | sion of such. property as long as he | liked. These leases, however, were ir- | redeemable, and this situation at times | retarded important building develop- ments. Sometimes such tracts would be located in the center of a city block and would affect the development of the entire block. Various interests sought to remedy this situation and in 1884 the Legis- lature passed a law to the effect that all leases thereafter executed for a term of more than 15 years should be re- deemable after 15 years from the date STREET ust North of Military Road) Has lot with splendid trees. Only $17,500 3749 JOCELYN STREET N.W. e Y 7 ROOMS 2-CAR GARAGE 3 PORCHES $15,500 TERMS Drive out Connecticut Avenue to Jocelyn Street, turn west one-half block. B . OPEN UNTIL 9 P.M. A charming home of cen- ter-hall plan on a beautifully landscaped lot 80 ft. wide, with 2.car garage, just west of Connecticut Avenue .. . Reception hall, large living room with open fireplace, screened porch, bright din- ing room, butler’s pantry, kitchen , . . 4 spacious bed- rooms with wardrobe clos- ets, tiled bath with built-in tub and shower, 2 enclosed porches, finished as rooms . . . Beautifully decorated throughout, all modern con- veniences. W.C. & A.N. MILLER REALTORS—DEVELOPERS 1119 17th Street Decatur 0610 in much higher pri 5520 Conn. Ave. 8 rooms and 2 baths Maid’s room and bath 9-car built-in garage Breakfast room No. 2 Aspen Street (Corner Connecticut Avenue) ced custom-built homes. Its many special General Electric Ofpen Al Quiet May oil burner Copper gutters and downspouts Copper screens throughout Day features include: refrigerator Sunday Edw. H. Jones & Co.. Inc. Chevy Chase Properties Chevy Chase, Md. This beaptiful corner residence is, without doubt, one of the finest pieces of property it has ever been our privilege to offer. Its choice location just south of the Columbia Country Club, its fine construction, excellence of architectural detail, livableness and completencss are matched only 1st floor lavatory Open porch, 11 ft. by 31 ft. Sun room with fountain Craftexed walls Cleveland 2300 1103 Vermont Avenue North 58 (Just West of This froperty ha homes. There are six large roo ern bath with shower course there is a garage. 1004 Vt. Ave. Semi-Detached Brick WEST CHEVY CHASE $8,950 4441 FESSENDEN Wisconsin Ave.) Well located and in the best of condition, this is as complete and attractive a home value as you will fnd in any of our better home communities. first to sell in an operation of 22 simslarly desivable The s been thoroughly recondi- tioned and is offered now only on account of a com- bination of unfortunate personal circumstances. ms, flooded with sunlight through attractive English casement windows. Mod- and built-in fixtures.—Of : OPEN SUNDAY National Mortg. & Inv. Corp. Nat. 5833 1401 Ridge finish. 1226 14th St. Modern New Homes In Growing Section Place S.E This new group of homes, built by the Thrift Building Co., represents the best the market affords in substantial construction, practical design and attractive rd. Six large tous, - fer, conveniently red walls, chestnut Cross Navy Yard 11th St. Bridge—to 14th and S Sts., then one block north WAPLE & JAMES, Inc. North 0962