Evening Star Newspaper, January 10, 1931, Page 17

REAL ESTATE. THE EVENING STAR, WASHINGTON, 5 8 N 2 SATURDAY, JANUARY 10, 193 REAL REALTY STABILITY SHOWN IN SURVEY Semi-Annual Report Covers Conditions in 349 Cities of Entire Nation. (Continued From First Page.) ported less activity in the West South Central section, 73 per cent reported less activity in the East South Central | section and 83 reported less activity in Canada. Selling Prices Drop. In the United States and Canada, taken as a whole, 23 per cent of the cities reported that selling prices were the same as they were a year ago, 1 | per cent reported higher prices and 76 per cent reported lower prices. It should be noted that the figures report selling prices, a large percentage of which under present market conditions represent forced sales. Had the ques- tionnaire called for a report on changes in real estate values, rather than prices, the percentage of cities reporting values the same as a year ago would | undoubtedly have been much greater. A normal supply of single family | dwellings was reported in 74 per cent | of all cities reporting, whereas 14 per cent reported a shortage and 12 per cent reported an oversupply. In apart- | ments 67 per cent of the cities re- ported a normal supply, while 18 pe cent reported a shortage and 15 per cent reported an oversupply. When | analyzed by sections these figures show a more erratic_distribution of over and | under supply in areas which reflect a | rather spotted situation. but on the whole the residential building situation | & -ppcm healthier than it was a yeal | % business property 64 per cent of $he cities reported a normal supply, ‘ where 33 per cent reported an over- supply and only 3 per cent reported | a shortage. In this classification there still is evidence of a considerable over- supply of business property in most sections of the United States, except the West North Central and the | mountain sections. Rents Show Down Trend. The outstanding feature in residen tial rents, as shown by the survey, is the marked downward movement of rents in single family and two-family | dwellings, stationary rents being re-| ported in 39 per cent of the cities, whereas 56 per cent reported lower| rents and 5 per cent reported higher rents. In two-family dwellings 38 ‘per cent reported stationary rents, cent reported higher rents and cent reported lower rents. Apartment_tents were Teported sta- tionary in 60 per cent of the cities higher in 7 per cent and lower in 33 per cent. Rentals in business property indicate a greater percentage of decline in out- 1ying business properties than in cen- trally located properties. Rentals central business properties were re- ported stationary in 50 per cent of the cities and lower in 46 per cent, wherea in outlying business properties rentals Were reported the same in 41 per cent and lower in 57 per cent of the cities reporting. Higher rents for central | business property are reported by 4 per cent of the cities. Higher rents for outlying business properties were Te- ported by 2 per cent of the cities. Office Rentals Steady. Office rentals on centrally located buildings were reported the same in 68 per cent of the cities and lower in 31 per cent, whereas in outlying office buildings rentals were reported the | same by 58 per cent of the cities and Jower in 42 per cent The survey shows that in the sub- division market 31 per cent of the cities report the same activity as com- pared with a year ago, whereas 67 per cent report less activity and 2 per cent report more activity. This is not sur- prising when we consider the fact that the subdivision market is by nature more speculative than the market for fully developed properties. The fact that | as many as 30 per cent of the cities reported subdivision market activity the same as a year ago is probably ex- plained by the fact that the subdivision market in many cities had become in- active a year ago. Of the cities covered by the survey.| 26 per cent reported that in the mort- ge-money market capital is seeking oans, 34 per cent reported an equi- librium between the supply of capital and the demand for loans and 40 per cent reported desirable loans available in excess of the supply of capital. When all figures are analyzed, however, the Jarge supply of funds available for in- vestment in the larger cities represents l marked contrast to the relative per 59 per | | summated of | $60,000,000. NEW CONNECTICUT This English type residence at 6501 Connecticut avenue is the home of W. Hoover, purchased from McLachlen & Gaver through the agency | It contains eight rooms and two baths. erty has a frontage of 90 feet on the avenue and 80 feet on Taylor street. win H. Jones Co., Inc. AVENUE DWELLING BILLIONS NEEDED FOR IMPROVEMENTS Construction Bill, Necessary at/ Present, Totals More Than $4,500,000,000. More than $4,500,000,000 worth of | public improvements, involving Federal. | State, county, municipal and industrial | construction, are needed in the United States at the present time, according to a report completed yesterday by S. W Straus & Co., in co-operation with 236 chambers of commerce in the leading | cities of the country. reported by these various organizations | as needed, no allowance is included for such private work as residentiel build- ings, office structures, apartments, the- aters, factorics, etc. ‘The survey covers only such major public works as bridges, civic buildings and grade About $1,200,000,000 of this construction is now going forward, while | approximately $3,300,000,000 is being held up, delayed or postponed for vari- ous reasons, the report declares It is hoped that with the co-opera- tion of the Federzl Government, the The prop- GOODACRE BUYS PLACE ON FOURTEENTH STREET | Other Properties chased Recently for Purposes of Investment. Business Pur- George L. Goodacre has purchased the | business property at 1129 Fourteenth eot from the Kass Realty Co,, it was | reported today by Shannon & Luchs Inc, which handled the transaction. The' purchaser has not announced whether he will use the property for his | wn business or will hold it as an in- vestment. Pietro and Anna Giancoli has pur- chased from Martin McInerney store proverties at 2320 and 2331 Pennsylva- nia 2venue southeast and will hold them as an investment, Shannon & Luchs re- port. The stores are under lease to chain grocery shops George Oscar Penn has sold to Mary | B. itz the three-story brick dwrllmg % 201 Twenty-seventh street, the firm | announces e S CHEAP LOT NOW “MINT” | Value of $1 Purchase Grows to Fabulous Taetal in 50 Years. A lot in Seattle, Wash., for which A. |A. Denny and his wife paid $1 back in | 1879 was involved in January, 1929, in the largest real estate deal ever con- in the city. The property now is being improved with & new store building, which was leased last Winter | for iong terms involving a total of scarcity of funds for first- mor'.gage loans in the smaller cities. Interest rates on first-mortgage in- | vestments indicate a high degree of | stability, with 76 per cent of the cities reporting steady interest rates, 14 per cent rising rates and 10 per cent fall- | ing rates. Breuninger & Phifer . § 1103 Vt. Ave. Na. 7713 #mmmerwmwmmmmmr‘ MODEL HOME Open for First Time Today 6010 33rd St. N.W. Chevy Chase, D. C. Combining Beauty, Style, Comfort, New Ideas and Finish 6 large rcoms, 2 full baths, 2- car garage, on large lot. No ex- pense has been spared in the construction of this home and expert_interior decorators have finished this home in perfect col- or harmony. Imported papers and hand-painted_ fixtures are some of the many features. Open and lighted each evening. Drive_out Conn. Ave. to Chevy Chase Cirele, right on Riftenhouse St. fo 33rd St. s block south to home. Outstanding Value at only 8,950 4th & Longfellow Sts. tion of Concord at intersec- | BUILDING TOTAL DROPS | Baltimore's 11-Month Figures Un- der Those of Last Year. | Special Dispatch to The Star. | States and municipal and county ofil |cials enough of these public improve ments can be started within the next |few months to provide real relief for | the unemployment emergency immedi- ately in front of us and to bring the| total public works program for the vear 1931 at least up to the figure of $3,500.- 000,000, which it has approximately = | In this $4,500,000,000 of (:Onslrucllrm‘j 24 BALTIMORE, December . —Build- | equaled for the past two years. “If the aggregate of public construc- | ings to the number of 16,082 and costing % ol $26,128,410 were erected in Bnmmon«,fi‘,?c'l,f_’“;lf;,m estimped S during the first 11 months of this year. | may occur in residential building, will | This figure is a decrease of $4,312.090 | serve to compensate for the anticipated | compared with the corresponding period | decline in commercial, industrial and | of 1929, {public utility building t been noted that in recent ve been erected so far this ar 1375 dwellings, costing $6,190.000, Ccompared with 2728 houses for the first | 11 Tonths of 1929 and 2440 for the | same period in 1928, [ The report for November follows: | 26, couts sonlyiabonit 174 csots | | per day and 5 cents Sundays to have Washington's best nes per delivered to you regularly Subscribe Today tory frame cottages, $5' 000, and other buildings, $860.500, making a total for the month of $1,094,- | | Pver“evening and Sunday morn-. 500 in 8. J | Telephone National 5000 and the delivery will start immedi- the | increase that | ately. The Route Agent will col- lect at the end of each month. The Winton-Stanley weeks more and more of the co-opera- tion necessary for speeding public works programs has been shown. In “every part of the country there is growing evidence of determined efforts to stert work on needed improvements as rapidly as possible. Continuation and extension of this co-operation cannot fail to have a tremendously helpful effect upon busi- ness lnd employment conditions as a whole A decided impetus was given to public building programs throughout the coun- try, the report shows, by the result of bond issues voted on in the November clections. Issues calling for constru tion operations in excess of $375,000.000, including highways, prisons, _bridges, etc., were approved at the polls, and actual work will go forward as rapidly as the funas are made available. M. J Luch! to Spe&k Morton J. Luchs, local realtor and vice president of the firm of Shannon & Luchs, Inc, will deliver an address on “Real Estate as-a Career” before stu- ents of Catholic University, at a meet- ing In McMahon Hall, Tuesday eve- ning. He will discuss the possibilities f large earnings for properly tramed men who devote time and energy to real estate business. New York Rentals Good. Space in well-located, ably-managed apartment and business structures of the better type throughout the New York metrcpolitan area continues to be well ented and in strong demand despite de- pressed busin conditions, according to latest reports received by S. W. Straus & Co. Right When You'll Enjoy Living —and you'll own a home that is in a neighborhood of sure value— overlooking Rock Creek Park. 1816 Irving St.N.W. ‘Brand - new house — 8 rooms, bath, shower, sun porch, 3 bed rooms and dressing room. Furnished for exhibit by— W. B. Moses & Sons $11,950 4 very Low Price Mt. Pleasant community stores are handy; car and bus service; steel casement windows, Frigid- aire; in fact, very high-grade equipment throughout Open jrom 10 a.m. R. M. HOOKE Tower Bldg. Met. 21 to 9 pm. R 663 Four Rooms. Kitchenette and Bath | Reasonable Rentals “Walter A. Dunigan Quality Built Homes” 925 15th St. N.W. 52SOLD 6LEFT 2 g L‘@l National 9530 North Cleveland ] flur&rflm}fldfimmrflmmmmmmmmmm Park It proves that the buy- ing public does not hesi- tate to buy when real value ed combined with a uperior quality of con- ction and location. Tt will be a real pleasure for me to show you this new &room and 2-bath, semi- detached all-brick home at 42, 7th St. N.W. Mod- ern in the last word. Price and terms reasonable. Open, lighted, heated—daily and Sunday -until ® P.M. 3 rage—paneled walls. Some Home Biyers . prefer to deal direct with usually well built. the builder. In this event I am on the job daily and Sunday until 9 P.M.—or we will deal thru your broker. Walter A. Dunigan To reach—Out Conn. St. to 33d St., 5520 Conn. Ave. 5610 32d St., Ch;vy Chase,D. C. New Colonial brick and frame—]arge lot with trees—6 rooms—2 tiled baths—2 porches—ga- Bus line at door. DON'T FAIL TO SEE THIS AT ONCE Ave., then left to property. OPEN ALL DAY SUNDAY Edw. H. Jones & Co., Inc. Chevy Chase Properties Un- turn right on McKinley Cleve. 23 Overlooking and Immediately Adjacent to Beautiful Glover Park NEW EXHIBIT HOUSE 4344 Forest Lane N.W. according to & final report made public | this weck ‘flwflur G. Hlmmond - | n! {BALTIMORE'S REPORT | simtsog sobirs mate e ON BUILDING IN 1930 “58587 e s s s | this figure is below that of 1929, it | lrxceeded the expectations of the au-| | thorities, due to the readjustments in $26,000,000 Expended on Construc- | thorities, €uf 10 T tion, Accordifig to Statement Au- | _In 1930 964 two-story dwellings were built and 407 two-story frame cottages thorized by Engineer Hammond, |constructed. The ratio of cottages to row houses has shown an upward trend for some rs, and this trend was maintained during the past year. Special Dispatch to The Star. BALTIMORE, January 10.—Con- struction work in Baltimore dunm( 1930 totaled approximately $26.000,001 A British-Duich committee plans to | tell the world the many uses for rubber. ESTATE. B3 SIX HOMES STARTED Plans Being Drawn for Fifteen Others to Be Built This Year. Construction of six detached dwellings | has been start:d by H. P. Huddleson & Cn. builders, in the vicinity of Ne- braska avenue and Military road, and plans are being drawn for 15 other dwellings to be erected this year, it was | announced today. ‘The houses will be of colonial design, of the center hall plan, and will be of a varied combination of stone and frame and brick and frame construction. dark green shutters, this home, pictured above, example of modern Colonial architecture. fireplace, buil porch, and built-in two-car garage, besides many other modern conveniences and appointments that you would naturally expect to find in such a carefully planned and well-built home 104 West Cypress Street, Chevy Chase OU are cordially invited to see the charming Exhibit Home in Meadow= brook today. Constructed of white painted brick and trimmed with very There are six large rooms beautifully decorated, two tiled baths, open in kitchen cabinets, large attic, well-lighted cellar, covered side Drive out Connecticut Avenue to Columbia Country Club, turn west (left) on Wes( Cypress Street (Bethesda-Silver Spring Hzghwaw one block to A WARREN Development VISIT THE NEW EXHIBIT HOME IN MEADOWBROOK TODAY is a most attractive + $17,500 . L4 sn Chevy Chase Wisconsin 2764 Miller Designed — Miller Built We are offering for the first time this beautiful English home just completed, which for architectural achievement, con- venience in arrangement and utility would be difficult. to surpass. ‘This house, consisting of eleven rooms and three baths, is arranged as follows: Ave. Homes Face 120-ft. Boulevard. Near Fort Slocum Park and 14th St. Car Line. Basement—Large club room with open fireplace. First Floor—Library, living room, dining room. lavatory, kitchen, pantry and huge open porch over a two-car built-in garage. Second Floor—Four bed rooms, one of which has an open_ fireplace, two complete baths and spacious open porch. Third Floor—Two complete rooms and bath and storage space. You will be particularly interested in the construction of this house, there being many innovations which make for perma- nence. The first floor is of concrete, reinforced with hollow tile and steel, over which is laid a tongue-and-groove subflooring, topped with oak flooring. All the walls from the foundation to the roof are insulated with Celotex, insuring additional comfort during extreme hot and cold weather. Two Semi-Detached Homes Available at Slightly Higher Figures Last opportunity to inspect this Exhibit Home before it is turned over to its recent purchaser, a prominent member of the Congresswnal circle. 301 Brookside Drive Efiect?ve]y furm'shexl}};roug'wut in sympathy with its Georgian type by W. B. Moses & Sons. We would like you to go through this home—for it Typifies the character of homes with which Kenwood is being built. It has the spacious grounds which are the rule here; and the artistic plantmg and beautiful trees w}uch form the background of every Kenwood home. The Exhibit Home will be ofen tomorrow—from 10 AM. to dark—the final opportunity for viewing it. EXHIBIT HOME 335 Concord Ave. N.W. Just com 1. . . all-brick sereened .. . 6 big rooms To reach Forest Lane, dr turning left onc-half blo south on 44th Street, below Garfield Street. OPEN FOR INSPECTION Sunday—10 AM.-9 P.M. Daily—10 AM.-5:30 P.M. d sink ype fix- Why not To- this location by personal wspection? morrow will be a good time TO REACH: Drive out 16th Street or Georgia Avenue to Longfellow Street, thence cast to houses, or take 14th Street (Takoma Park) car line to Longfellow Street. Go west of Wisconsin Avenue on Homes open daily until Bradley Lane, continuing under the PM. ks i 3 o > 1 viaduct three short squares. e HG.Smithy Co. SUCCESSOR TO BUSINESS Eye St. N.L.Sansbury COMPANY INC. Kennedy-Chamberlin Development Co. 2400 Sixteenth Strect Columbia 7280 ‘!Q“g;‘anbmll G'Rfller i PESmgemes ey .‘:‘:ta'\rts, Monday I’ S!VINTEEN‘\‘H ST. DECATUR OGIO