Evening Star Newspaper, May 10, 1930, Page 18

ESTATE THE EVENING STAR, WASHIN TON, D. C., SATURDAY, MAY 10, 1930. REALTY FINANCING FIGURES RUN HIEH Volume Based on Survey Es-‘ timated at More Than } Billion a Year. COLONIAL HOME BUILT ON LARGE SITE IN SPRING VALLEY More than a billion dollars a year for | the past three years has been invested in the financing of real estate, accord- | ing to an estimate by Thomas F. Clark, director of the Mortgage Bankers Asso- ciation of America, based on reports from 200 leading members of the or- ganization from all parts of the country. The _statement, issued by the Mort- gage Bankers Association, was drafted by Mr. Clark following the annual meeting of the Chamber of Commerce held here. ~ “Such colossal figures, based upon a country-wide survey just made among | members of the Mortgage Bankers As- sociation, gome as a surprise to the man on the street who has attributed less- ened real estate and building activity to a curtailment of loans by mortgage bankers,” said Mr. Clark. “Due to the fact that the survey was confined to the conservative institutions that have qualified under the strict membership standards of the associa- tion, we can infer from the figures that companies of this type have regularly supplied mortgage money for sound projects even during this last three- year period when real estate activity as a whole has been at a low ebb. Forty per cent of the reporting members actually showed an increased business Residenu‘ of John H. Small, 3rd, recently completed by W. C. & A. N. Miller on a plot containing several acres on the crest of a high elevation in the center of the Spring Valley section beyond the American University campus. cite is surrounded by thickly wooded slopes. The house con tains 12 rooms, four baths and a three-car built-in garage. The The site commands a wide vista of Maryland and Virginia territory. Nomadic Trend Followed in Present Day | fi e Sins which secm o teions there, until at last the house snuggles down into its setting and is a home. Seen as Difficulty in Building of Home| o into i seting and, &, %, nores sionable years and ever after have as a heritage the recollection of every REALTORS 10 MAKE CONVENTION TOURS Arrangements Completed for Scenic Trips at Conclusion of Ontario Meeting. ‘Trips over Canada's lakes and rivers and visits to its quaint and historically interesting_cities are being planned for realtors following the twenty-third an- nual conventionl of the National As- sociation of Real Estate Boards to be held in Toronto, Ontario, July 9, 10 and 11, ‘The Toronto realtors have arranged for their guests a choice of 10 post- convention tours which will take the delegates over some of Canada’s choice vacation routes. The trip up the Saguenay River includes one-day stay at Montreal and Quebec and proceeds up the Saguenay to the famous shrine of Sainte Anne de Beaupre and Mont- morency Falls. A lake trip which many of the dele- gates are favoring takes the party to Duluth via Detroit and return, sailing across Lake St. Clair, across Lake Huron, through St. Marys River and the Soo Locks. 'From there the party will go across Lake Superior to Port Arthur and Fort Willlam, with a trip to Chippewa Park, and from there di- rect to Duluth. Another boat trip is the one scheduled to the Thousand Islands, which will touch at Charlotte and Kingston en route. The motor trip to Muskoka Lake of- fers the delegates an rtunity to see some of Canada’s most beautiful scenery. A and water travel It Tthxvu‘m'; m’-fl %M ith its Thirt; n Bay, wi y Thousand Islands, to Manitoulin Island, anr along the north shore to Sault Ste. Marie. Another post-convention trip will be the special cruise the St. Lawrence. The party will em- bark at Montreal, whence the tour goes down the St. Lawrence to the Saguenay River, through the Gulf of St. LaWw- rence, down the Nova Scotia coast to Halifax and follows the New England coast to New York. Other tours which are scheduled for roceeds from rail, thence the realtors after their convention in- || clude trips to Montreal, Quebec, the Lake of Bays and Niagara Falls. Executive Offices Moved. Executive offices of the National As- || sociation of Real Estate Boards were moved May 1 from 310 South Michigan avenue, Chicago, to the recently com- || pleted 27-story Buckingham Building, at 59 East Van Buren street, Chicago. ——e German clock makers report an in- creasing world demand for grandfather clocl These Are HAPPY DAYS for the ‘Bay trip will combine rail || to New York via || around the Gaspe Peninsula, || Bay Ridae N THE CHESAPEAKE BAY This beautiful 5-room and bath bunzalow can be built. including fot 50x200, for $1,500.00. For particulars see agent on srounds or— BAY RIDGE REALTY CORP. PETER J. HAGAN. Local Representative 219 Bond Building National 9657 in 1929 over 1928." Billion Estimate Assumed. Two hundred leading members of the BY HORACE MORAN. In these almost nomadic days of | avgury for the future, as the man who | little nook and corner and the happy owns his house is likely to stay put. | memories which well up as each is Through the years he and his family | recalled. HEALTHY association located in practically every State of the Union submitted figures in the survey showing sales of mortgages and_bonds secured by city real estate to the extent of $676,000,000 in 1927, $727,000,000 in 1928 and $691,000,000 in 1920. An estimate of from $1,000,000,- 000 to $1,500,000,000 annual volume could be assumed on the basis of a full report from all of the association’s members. Building and loan associ: tions, private investors, insurance com- panies, trust companies and savings banks negotiating _directly with bor- rowers, rather than through mortgage bankers, are not included in the survey. “It must be remembered that in the last two or three years we have seen the gradual withdrawal or failure of many so-called ‘high-pressure’ real es- tate security houses whose loans were, through intention or lack of experience, matie along speculative lines,” explained Mr. Clark. “As such houses are gradu- ally being eliminated from the field it is-only natural that builders and de- velopers should feel the shortage of funds from those sources. Plentiful Funds Predicted. > “While one section of the general public is bewailing the supposed ‘tight- ness' of mortgage money another sec- tion is bound to feel satisfaction over the present conservative trend of mort- gage banking, and in' the knowledge developed by these statistics, that sound mortgage institutions are furnishing an uninterrupted service to borrowers and investors. “Judging from the figures shown, high-grade real estate securities are still being sold and being accorded their rightful honored place .in the invest- ment field. Such securities must not be made the tool of the wildcat pro- moter—the speculator unwilling to risk his own funds. Level-headed home- owners, realtors and builders who are ‘more concerned with sound development than temporary profits will find mort- gage funds as plentiful as ever in 1930.” e e L Grass seed pasing through Cooks- town, England, market last season was valued“at more than. $100,000. RRTEE moving from house to house, or rather from apartment to apartment, there is a constant artificial struggle to create the atmosphere of a home. This in part accounts for the love of antiques and their substitute, the reproduction. Perhaps a touch of the house is arrived at in this way just as the desert dweller, wherever he sets up his tent and throws down his rug, is at home because he is surrounded with all he knows as home. 1 Such homes may satisfy those of us | who have active lives and many inter- ests; but there is something we are forgetting, something very precious to | the younger minds of our children as a memory of their youth. How dear to his heart would have been the scenes | of his childhood if that ‘“old oaken bucket” had been moved from well to well? We forget that old furnishings poured into new apartments do not build up childhood memories of a home. ‘What an atmosphere of home still lingers about the old manor houses and cottages of rural England, the villas on the hills about Florence or the old houses in and around our own Charleston. And that intangible something remains long after the home is no longer occupied as a home. Our latter day tendency toward a home in the country is & cheering Chevy Chase Maryland 313 Rosemary Street Beautiful corner residence of nine large rooms, thres baths, with double car garage, and large play house. The grounds, comprising 18,300 square feet, are extensively land- scaped with rare shrubs and a formal sunken garden with a pool and about two hunded roses. Yo invited to inspect tractive y ‘untit No. 5913 16th Street N.W. Owner, leaving the city, has priced his home at an EXTREMELY ATTRACTIVE FIGURE— for PROMPT SALE. A wonderful home in which to live—13-inch brick walls to roof—spacious rooms throughout. In all there are 10 rooms, 3 baths, 1st floor lavatory—sun parlor—master bed room with private bath—2-car built-in garage—OIL HEAT, Complete in every detail including many special fea- tures and numerous added conveniences, See it and convince yourself. Open Sunday 10 to 6 Chevy Chase, D. C West of Connecticut Avenue 3910 Jenifer Street Vacant In the Most Delightful and Convenient Section of Chevy Chase *12,500 A Fully Detached Home A real opportunity to purchase a most comfortable, livable home, amid a beautifully landscaped setting. Six splendid rooms. Garage. . Lot 60x86. Open Sunday—10 to 6 Schwab, Valk & Canby 1704 Conn. Ave. Pot. Exceptional Surburban in tcl?ep Bu{tli‘f-ihlal'fil?s“of Sketch of Underpass of Mount Vernon Memorial Highway at Highway Bridge. There will be no cross-trafiic delays here. The actusl taxes paid on nearby Virginia real estate are mate- rially lower than in any other section of the Greater Washington area. subdivision: 1l modern conveniences—homesites ~of of all sizes and types—only 10 downtown ington. Fine churches; dependable public utilities; unexcelied highways and trans- portation facilities. Inspect these nearby Virginia values. Near Army, Navy and Marine Corps Country Club Exceptional value in a charming small home located on one-half ington: electricity; cellar under entire house; one-pipe Tapes: only & 13-minute drive from léth all_poultry place. Price, 84, Rucker Co., “'Opposite the 000; $200 0. Court” House,” Tel. Clarendon 197. $35.00 monthly. Clarendon, Va. Dogwood Blooming in Lyon Village Bring the children to Lyon Village to see the dogwood. The hill side slope of Section III is literally covered with the beautiful blooms. _Attractive, cleared picnic srounds available. ' Bring your lunch and en‘oy it in the natural beauty and tranquillity of Lyon Village, on the broad, smooth Lee Highway, only 3 minutes by auto from Key Bridge. Lyon & Fitch, Inc., Clarendon 650, or National 4198. An Attractive Brick Colonial Home in Aurora Hills . located on charming large lot. with d street, with alley. House is center- modern improvements: electric_re- bdivision, with impros . 12th and ve., by bus, electric car, or automobile. Inspect this unusual value at $10.000, for quick sale. ' Aurora Hills Homes, Inc., 200 Ariington Ridge, Ciar- endon 1057. Fine Poultry Farm at Falls Church, Va. A beautiful place that can be made to pay for itself. comfortable house of 7 rooms and bath; hot-water heati beautiful d lawns: shrubbery. Room for 1200 chickens. ~Chicken nd ‘ncubator. 7 miles from downtown Washington—a 25-minute Attractive price; terms, if desired. W. S. Hoge, Jr. 1517 K . Franklin 7020, New southern colonial type. beautiful trees and shrubs: hall plan, 6 rooms and batl 2 acres: 215 Custis St. $13,850.00 Aurora Hills, Va. QEnglish cottage home, brick and stucco, on large cor- ner lot, center-hall 'plan, tile bath with shower, extra lava. tory and toilet and two cedar closets in dressing room off master bed room. fast room, built-in garage. Fireplace, inclosed sun patlor, break- Unusually complete kitchen with General Electric refrigerator and an incinerator. Steel casement windows, copper gutters and flashings and brass piping. Price includes fitted draperies and rugs. Lot has several shade trees and is beautifully landscaped. {An inspection any day will convince you of its extraordi- nary value. Drive out Alexandria road and look for our signs or take Alexamdria car or bus and get off at AURORA HILLS AURORA HILLS. . VIRGINIA Washington’s Most Convenient Suburb 10 Minutes from 12th St. end Penn. Ave. Phone Clarendon 1057 { | i CALIFORNIA BUNGALOWS G. W. CHASE 415 Cedar St., Takoma Sample, 721 Fern N.-W. | BEAUTIFUL | j 13th ST. N.W. | (Just above Madison St) i} SAMPLE HOUSE OPEN to 9:00 P.M. 5743 13th Street Washington’s Most Convenient Section We Are Offering a “Com- plete New Home” at a Very Low Price. 8 nice rooms, complete bath with shower; lavatory off master bedroom. Abun- dance of closet space. Roomy kitchen: large pan- try with Frigidaire; man- tel with radiant heater in { ment front porch; beauti- ful front lawn with stone retaining wall; large rear | yard; 2-car garage; house é copper. screened through- k out. Your immediate in- spection urged as the | houses will sell quickly at | price asked. Make your ’ selection today. . WAPLE & JAMES, Inc. ’ 1226 14th St. North 0962 ¥ living room. Colonial ce- | KIDDIES Who Live GloverPark Adjoining Mass. Ave. Heights « To Reach—Take Park bus or drive out Que or B Sts. to 37th, north to Tunlaw Rd. and torn left on Ben- ton. Homes open daily until ® PM. Burleith-Glover “Sittin’ in the Sand Box” (reading left to right), Henry E. Juenemann, jr., Barbara Dyer and Betty Fadeley. A typical sun-tanned trio 'of the many happy, healthy, rollicking youngsters who frequent the safe outdoor play spaces in Glover Park. An inclosed plot, 60x100 feet, where the little ones may romp in delight...beyond the hazard of traffic. . .is directly in rear of new group shown below. Nearby are numerous playgrounds and the vast open expanse of the U. S. Govt. Glover Parkway. Sunshine and outdoor play are the very essentials of child health and happiness, but are not available behind apartment walls...Why deprive your chil- dren of these important elements when they can be had here at such low cost? Investigate NOW. * - EXHIBIT HOME 3802 Benton St. N.W. 6 and 7 big rooms, variegated tile baths, built-in garages, all-brick con- struction, cedar-lined closets, hard- wood floors, 2 and 3 porches, attractive mantels, bracket lights, Frigidaire, San. itas-covered kitchen walls, landscaped terraced lawns, paved streets and alleys. Priced surprisingly 1ow—on rental terms. Don’t decide to rent or buy until you've seen Glover Park and these new homes. B. H. GRUVER, Builder 927 15th St. Nat’l 2670 Or See Any Broker ADIATING from the Circle, these twin suburbs are now become a wide area of beautiful homes and of inspiring home-life. The treat- ments applied to natural advantages have produced a residential community of unsurpassed attractiveness . . . hills, dales and wood- lands have been adapted to harmonious, pleasing usefulness. For more than forty years it has been’our part to pioneer, develop and build in and about Chevy Chase. Our real estate experiénce here has been long—our concern for betterment deeply rooted. We therefore feel that we can serve intending home purchasers to their advantage. Careful restrictions and satisfactory financing terms. We now have under way new areas, of which plats will be furnished on request. Also listings of homes for those who seek a finished property. “To have @ home, a yard and'a garden when Springtime comes, is truly to be thrice blessed.” NW. ... Thomas J. Fisher & Co. INCORPORATED REAL ESTATE BROKERS District 683 38 Fifteenth St. —_— m EXCLUSIVE AGENTS . . . THE CHEVY CHASE LAND COMPANY