Evening Star Newspaper, January 17, 1931, Page 15

REAL ESTATE U. S. TO HAVE 5 BILLIONS CONSTRUCTION THIS YEAR Architectural Forum Survey Points to Building In- dustry Leading Way to Business Recovery—Com- mercial and Domestic Phases of Life Affected. UILDING construction of all classes to be started during this year, as estimated from work now under way, plans definitely contemplated or otherwise in “sight,” will have a total cost of nearly $5,200,000,000, according to an interpretation of a na- tional survey by C. Stanley Taylor, director of research of the Archi- tectural Forum. Of this total, new construction under architects’ supervision is estimated at $3,179,787,200, probable additional work for architects under Federal, State, county and. municipal emergency programs, $800,000,000, and buildings not designed by architects, $960,000,000, bringing the grand total estimated to.$4,939,787,200. “Every indication points to the fact that the building industry « in 1931 probably will lead the way toward husiness recovery,” Taylor states. “The country is turning to the construction field for its Elrlmn.ry alleviation of unemployment and for a con:ribution to dustrial and commercial activity which should prove of material aid in stabilizing an economic structure which has been badly shaken through overexpansion. “The ramifications of the build- ing industry extend throughout the entire network of our com- mercial structure and equally through every phase of domestic and institutional life. “This industry reaches into every community in the United States, large and small, and far out into the rural districts. It includes au or part of the activities of possibly 25,000 manu- “dacturers. It involves the activities of 10,000 architects and their 30,000 em- ployes; perhaps 25,000 to 30,000 general contractors and 70,000 subcontractors of wvarious types. It brings in engineers of all kinds, fabricators, sales agents and 20,000 building material dealers. “In sum total the number of active operating units involved by the building industry is greater than may be found in any other American industry. For o this reason alone the potential activity the building construction industry 1931 is of paramount importance &nd as such is perhaps the primary in- @icator of the immediate future. Several Unusual Facters. “Por the year 1931 there are several wmnusual factors which are highly en- oouraging for the building industry and consequently for the country. These IncluGe the following: Dodge | National Association of Real UNITY PLEA MADE ATREALTYSESSIN Thomas S. Holden Tells Na- tional Body Benefit of Close Co-operation. Close co-operation of local and na- tional organizations of realty dealers and architects is vital to building grogress and American business sta- ility, Thomas S. Holden, vice president in charge of statistics and research of the F. W. e Corporation, told the Estate Boards, in convention at St. Petersburg, Fla., yesterday, according to Associated Press dispatches to The Star. A delegation of local realtors and their wives is attending the Midwinter meeting of the board, which is a busi- ness meeting of real estate operators from all sections of the United States and Canada. “Uncontrolled and _unco-ordinated promotion of real estate and building Eo]ecu have repeatedly led to specu- tive booms, severe reactions and de- is the publicly financed building pro- | Pressions,” Mr. Holden said. | gram red deliberately by the Fed-| “The day lias come when responsible , | real estate and building leaders must | unite in order to effect on a national Ppresent ecunomic needs of the country. |scale some reasonable control of real “4_ The survey of mortgage conditions | estate and building production, better indicates steady improvement, which will | standards of business practice and bet- tend to encourage building activity. ter co-ordination of business functions.” “5. There is a growing demand for | lip W. kern of New York, better construction and toward _the | chairman olllpechlwmmitmolflw{ elimination of ‘jerry ! appraisal division of the national real y | estate organization, declared certifica- | the ., | tion of real estate appraisers, now being “6. There is a growing demand !orlwnlmend by the association, is the new structures in the institutional and | “most forward step that has been taken residential fields. | business _of ess . It marks a new epoch, he said, in the history of mortgage cing. “A real control of those who appraise and a standardization of the methods “1. All indications point to a building program arising through normal chan- aeh ;g least equal in volume to that Greatly decreased building costs. ‘3. Added to the above volume there fs to be an important new source of work for the building industry. This Forecast Educated Guess. any forecast is but an edu- accuracy of a fore- in ratio to the num- sources employed to it information. The gual- a forecast depends on how care- fully past experience is employed in Weighing its component parts. “In order to develop information from y sources as possible, a carefully by the | forum to every architectural office in | the country, asking for detailed infor: mation covering types and values of buildings under pianning or considera- tion for the year 19371. Similarly, ques- tionnaires were sent to & large numbe: Jow,” Mr. Kiskern said, “will create more uniformity in the values found, with the resulting greater confidence and stability in real estate and real estate finance, and will tend to preven! booms, depressions and other excesses. S B Eleven Dwellings to Be Built. Cooley Bros., firm, has filed with the District build- ing inspector’s office plans for the con- t struction of 11 two-story brick dwellings Thirty-eighth street, at a total “Investigators ment departments, particularly those which might be the source of new con- structym programs for 1931, and a series of personal interviews was con- ducted with contractors, engineers and e F to his farm in Ontario after an absence of a month, a Cana- dian farmer discovered that thieves had removed the surface sofl to a depth real | Committee of the Washington Real and theories which they use and fol-|}§ local home-building | & erected in the 1900 block of |5 cost. estimated at $60,000. |@ others qualified to render valuable | of 18 inches over a large area, render- | ing the land unfit for f 8 a ». %Mmt&wdss»-m,m.oo % Yol Guid. $7,140.00 ‘szflumx&wflulf“t“ W&MWS&M These are FACTS! They account for the unusually rapid sale of apartment homes in Tilden Gardens. There are OTHER ADVANTAGES equally as interesting and convincing. Why not visit Tilden TILDEN GREATER WASHINGTON Upper, left to right: Six-room residence at 4006 Leland street, Chevy Chase, Md., purehased by Sheridan Ferree from M. & R. B. Warren, builders, through the agency of E. H. Croxton of Realty Associates; and colonial residence at 1406 Thirty-fourth street, Georgetown, bought by Col. Charles M. Wesson, U. 8. A., from Mrs. Mayo & Co., through the agency of Boss & Phelps, this house conta ining 10 rooms and 4 baths. Lower left: Home of Dr. E. L. Robertson, 3¢ Drummond street, Chevy Chase, recently completed by J. M. Davison, which has three bed rooms on the second floor and a red gum den on the first floor, designed for possible use as an extra bed room. There is a recreation room in the basement. Lower right: Dwelling at 1612 Crittenden street, recently acquired by Dr. F. A. Hornaday from Robert E. Heater, through the agency of H. G. Smithy Co. It is of center-hall plan. Hotel. Approximately 30 realtors at- tended the session. A recent survey showed that approxi- mately 950 new houses are on the markets, whereas the normal consump- tion of new houses amounted to about 2,000, speakers declared. If the coming Spring market is active, there will arise a need for increased house construction, it was said. The point was made also that much of the money paid out by the Gov- ernment in acquiring private properties here for Government developments was being reinvested in local real estate. William A. Boss, chairman of the committee, presided. H. Clifford Bangs was discussion leader. Other speakers were Morton J. Luchs, John P. Story, Home With Park View Completely furnished for exhibit by W. B. Moses & Sens 1816 Irving St. N.W. Just around the from the Bt Pleasant community stores, 16th St. embassies, etc. Eight rooms, bath, shower and extra lavatory; big pantry; Prigidaire; automatic hot-water heater; screens; walnut bordered oak floors; inclosed garage. Special—$11,950 P IR et ey R. M. HOOKER Tower Bldg. Met. 2663 DWELLINGS MARKET IN GOOD' CONDITION Realty Board Committee Told In- creased Construction May Be Forced by Spring Activity. The present relation of supply and demand in the new housing market in | ‘Washington, as applied to dwellings, indicates that conditions here are e couraging, members of the Brokers Estate Board declared at a luncheon meeting yesterday at the Hamilton 2 Shepherd Park The Beautiful Home Development See Our Display— Furnished Home 7611 14th St. N.W. Drive out Bunday—To 16th st.; to Alasks ave, to 14th at.. turn left to Juniper st our home. and . E. Breuninger & Son & Natl. 2040 Invest. Bldg. e Sha Opartmant Qumr, Ruger Gitual ~&1500.00 24 montha, @B0b+ 5544.00 * Yotal Coid 3 7,044.00 (. tha End of Tleard OQumar: apartiment valued ©87500.00 W y 300000 Gardens today, and let us give you ALL the FACTS. The Exhibit Homes, attrac- . tively furnished by W. B. Moses & Sons, open for inspection every day until 9 p.m. GARDENS Qurw A Warren Development Connecticut Avenue at Sedgwick Street Telephone Cleveland 6084 *Based on apartment of Reception Hall, Living Room, Dining Kitchen, Bed Room and Bath. seven rooms and two baths, . Other Room, apartment homes, up to show mntfirr substantiel savings. . tee of the board will meet next week wder the chairmanship of Martin R. est. Foxhall Village Quaint Colony of Homes etown jr.; John F. Maury, J. A. McKeever, Henry Jawish and Milton Schwab. ‘The Mortgage and Finance Commit- Just OFf 16th St. English Brick Home Center-Hall Plan An English brick home, just off 16th St., near Rock Creek Park golf course. Center hall, with richly paneled walls on first floor. 8 rooms, two tile baths, attic with maid's room, breakfast room, rubber tile floor in kitchen, cedar storage closet, built-in fireproof garage. . Today’s Best Buy * 1422 Van Buren St. NW. Open Sunday Drive out 16th St. turn right on Van Buren St. G Smithy Co. St 5 and 6 Bed Rooms 3 Tiled Baths Large Studio and Lounge Rooms $17,750 to $24,500 and charming in Foxhall Village, Boss & Phelps, creators and developers, have had in mind not only the development of a community for those who buy homes there, but a center to which the Nation's Capital may point with pride, and one which the citizens of Washington may enjoy riding through. In creating interesting streets d Thouses . | | Il | | I | You Will Be Charmed With This Model Home, 1606 44th St. Open 9 AM. Until 6 PM. * Furnished by Sloane BOSS & PHELPS T e 51 o e s et R e R [} Bl = TR Ces108 T wevass. | 1418 Eye Nat'l 5004 Wanted Thoroughly experienced dairyman to operate large farm iA Montgomery Co., Md. Practically everything except cows furnished. John A. Brickly Acreage, Estates, Farms Suite 709-710 Barr Bldg. District 7321 SHERIDAN PARK HOMES An indescribable charm greets you at first sight. As you further in- spect you marvel at the price these homes are of- fered, $10,950—$1,550 less than they were built to sell for. 6215 14th St. N.W. Exclusive 16th St. Hts., Opposite Rock Creek Golf Course A beautiful living room with open fireplace, pantry that is a housekeeper’s delight, hardwood floors up and down, unusual lighting fixtures, 3 lovely bed rooms and 2 fully equipped baths complete the second floor. Numerous closets and large sleeping porch. Built-in heated garage. Finest oil-burning heating plant. Come out tomorrow. Open, heated and lighted until 9 P.M. Tower Bldg., 14th and K WASHINGTON, D. ©, @hg znzmg %taf, sAfURDAY. JANUARY 17, 1931. | BUILDING NEWS | Bl HOME OWNERSHIP VITAL TO AMERICA, SAYS KLEIN Assistant Secretary of Commerce Praises Achieve- ments of Building and Loan Association System in Radio Address. {4 NY factor that contributes to the strengthening of the Amer:- can home is a social force that makes powm for good. * * * There is no substitute for those per and civic qualities that have their slow in an owned home— qualities of human kindness, integrity, mutual consideration and upstanding independence. This statement was made by Dr. Julius Klein, Assistant Secretary Nation, in wHich he described ihe kmportan ation, in wi e e t tion which has been attained by the building and loan mocuuog:“ as an economic and social factor in the United States in the 100 years since the establish- ment of the system in this country. Such associations, Dr. Klein declared, “act as a potent stabilizing force in contributing so largely to our annual construction programs, which tly or indirectly provide a livelihood for millions of our citizens, and they are destined, I believe, to play a noteworthy glrt in our business recovery and our future progress in this country. “We cannot help looking now with hearty admiration at the achievements of this movement which has financed as many as work of the building and loan associa- tion. He has described the provision of funds for the building of homes as ‘one of the most im 8,000,000 American homes during the hundred years of its history— a movement that now embraces more than 12,000 building and loan associations, with more than 12,000,000 members and with |the assets that amount to the vast to?:l of $9,000,000,000,” Dr. Klein said. “This movement has been espec! im) it at this me, since “ont of the most potent “President Hoover, on various casions, has spoken in praise of o 4505 Ridge Street Astounding value. Six rooms, one complete bath. Living room 23'x135". Close to graded and high school. Near bus line and car line. Community stores handy. Large landscaped lot. garage, Time to Buy NOW Terms Unbeatable Drive Sy 5o Bart Rvas thrn woreh 1 slock fo Moot M. & R. B. Warren Chevy hase, Md. $11.950 to $12,650 Gruntry Club District Open till 9 PM. Heated Phone Wise, 2873 Na. 5573 ANOTHER FOXALL GROUP of Double-Fyont English Homas is nearing completion, This seventh group eompriems &z homes, three of which have boen pum chased before completion . . . most vincing evidence of owtstanding value. These homes contoin sis ond elght rooms with one, two and three boths, buili-in go- rage and maid’s yoom . , « of swuperior brick and stome consiruction . « « @rchitecture “Commended” by the Arehitects’ Advisory Council. Protected by Foundry Branch Valley Park and Foxhall Village, and but ten minutes drive from the White House, heve is the wmuch desired combination of comvemience with permanently protected values, We most cordially invite you o wielkt owr new Model Home, furnished and decorated by W. B. Moses & Soms. Drive out Que Street and Reservoir Road, make left turn ot 44th Street three short blocks south o furnished Model Home at the eorner of 44th Street and Volta Place. WAVERLY TAYLOR s 1522 K Street -