Evening Star Newspaper, September 26, 1931, Page 19

REA BUSINESS STRIVES FOR LOWER HOME Committees to Submit Data to Presiden® at Meet- ing in December. Government and private business in- terests continue at work seeking to whip into shape plans designed to make easier the purchase of homes. The large body of experts called into activity as members of the various committees of the President’s Con- ference on Home Building and Home Ownership will submit a mass of organized data an the subject at the conference to be held here in December at_the call of President Hoover. Meanwhile, committees of the Na- tional Association of Real Estate Boards have been seriously considering the matter since the organization, in the May convention in Baltimore, approved in principle a plan for establishment of a central mortgage bank for the discounting of mortgages on dwellings. Plan Was Amended. This plan was amended in two' Te- spects, however, in a report of a spe- cial committee of the national realtor body recently. Since then, according to an an- nouncement today, the Executive Com- mittee of the mortgage and finance division of the National Association of Real Estate Boards has decided the proposed central mortgage bank plan would not solve the problems of home owners and recommended further study of long-term amortized loans. ‘The committee stated: “The mortgage and finance division of the National Association of Real Estate Boards is heartily in accord with the efforts of the President’s Conference on Home Building and Home Owner- ship to assist and encourage home ownership in this country and pledges its full support to this endeavor. “We believe that excessive taxation of real estate and excessive special as- sessments for local improvements are the foremost problems confronting the home owner. Reasons for Doubts. “After full and careful consideration of the proposed central mortgage bank plan, we are of the opinion that it will not solve the problems of the present and prospective home owner for the following reasons: “Ample funds are now available for all first mortgage loans that are safe; any plan that may lead to excessive Joans is unsound and will result in dangerous inflation of real estate credit; the serious judgment of this country recognizes the dangers and inadvis- NGTON, D. €., SATURDAY, SEPTEMBER 26 1931 BUILDING PERMITS RISE Buflding permits issued in 338 iden- tical cities having a population of 25,000 or more showed an increase of 21 per cent in the estimated cost of new residential construction and an increase of 18 per cent in the esti- mated cost of new non-residential con- struction, comparing August to: with July, this year, the Laoor De- partment reports, There was an increase of 13.4 per cent in the cost of ail new buildings approved, the August total amounting to $127,139,031. Comparing the Augus total with that of the same month a year ago, however, there was a de- crease of 10.3 per cent. Outstanding Value $8,950—Terms Just Like New 1419 Spring Road Northwest Open Sunday, 2 to 6 P.M. Six large rooms, tile bath, newly decorated throughout and in per- fect condition. Cement front porch, breakfast and sleeping porches. Built-in garage. It is seldom, if ever, that you can buy & modern home in this desirable and conven- Len‘, location at the low price asked ere. Your Prompt Inspection Invited Waple & James, Inc. 1226 14th St. N.W. North 0962 $14,950 New Detached All-Brick CENTER HALL A WONDERFUL HOME, just east of 16th St. extended, at a high elevation. Big LOT 50x142.5, Beautifully finished interior. ELECTRIC REFRIGERATION. All oak floors, large attic. Re- pleté with features. Detached EHARAGE‘ An exceptionally fine y. OPEN ALL DAY SUNDAY DAILY 6 TO 9 P.M. BOSSw& PHELPS * REAL ESTATE. N o Near Walter Reed Hospital Petached brick house eontaining 6 large rooms, 2 baths, one with built-in Pembroke tub with shower, one with built-up shower, built-in garage, tile kitchen, breakfast nook, oak floors, hardwood trim, h.-w.h., electric ice box, concrete porch floors. On lot-40x90. & To inspect drive owt G ‘Avenue to Butternut Street, East on Butternut Street to 804. BUILT AND FOR SALE BY D. F. SWAB & SON Or See Your Own Broker. OPEN SUNDAY FROM 11 t0 6 New Semi-Detached Homes for Less Than Row-House Price Six rooms, built-in garage, tiled bath and shower, and equipped with awnings and screens. SAMPLE HOUSE 824 Tewkesbury Place N.W. rrice $7,850 $60 Monthly Builder, Harry Wardman Drive out Georgia Ave. to Tuckerman St. ome block east, and then one block morth to Tewkesbury Pl. Phome Georgia 1354. $500 Cash Upper left: Residence at 1707 Allison street, acquired by Ralph S. Walker, attorney, from the builder, L. E. Breuninger & Sons, through whose office the trans- action was handled. P - 3 centy-ninth street, consisting of eight rooms, two baths and two-car garage, purchased by Maj. Kenneth P. md,"s%::‘;)fnt.hhe' .Xosr:nl:: ddelr'::}t:;'do?‘t'fi‘e“%fid;:'l?at;llmgks lh’e agency of Boss & Pl’:‘e‘lp&. Xrgm former Representative James T. Begg of Iowa. Lower left: Residence at 2928 Forty-fourth street, Wesley Heights, containing eight rooms, two baths and built-in garage, which has been purchased by Prank T. Hines, jr, from W. C. & A. N. Miller, builders. Lower right: Colonial manor-type house at 2706 Thirty-sixth street, purchased by Charles E. Cooley, builder, from Franklin P. Willlams, through the agency of Boss & Phelps. The house contains 10 rooms, four baths, and has a two-car, detached brick garage. STRICTER FINANCING MAY BOOST REALTY Faulty Planning and Overbuild- ing Must Be Eliminated, Says Broker. ability of Government sponsorship of private business. “"We recommend: “(a) The continued study and en- couragement of long-term amortized loans for the home owner not to ex- ceed a period of 15 years, with pre- payment privileges. “(b) e devising of some plan to afford tax relief for the single family dwelling occupied by its owner. “(c) That realtors, builders and mortgage should recognize their responsibility to the prospective home owner and offer sound, imper- i‘m(:"ml h‘]:vlf: regndndm‘ the cost and anc rms and carrying charges which must be within the assured in- come of the prospective home owner.” FAMOUS ESTATE IS SOLD TO NEW YORK ENGINEER 500 Acres and:20-Room Mansion Near Charlottesville Purchased. FIRST SHOWING ENTIRELY NEW PLAN HOME 3 DOUBLE BED ROOMS Semi-Detached—All Brick—2-Car Garage Master Bed Room Across Entire Front—With 2 Closets and Lavatory Large Lot Beautifully Landscaped bullding must be eliminated,” sald Mr. | property. We have pald entirely too | substantial contribution to civie im- Nash. “Much of the cheap and hasty | much attention to the gross Worth of | provement and at the same time im- construction in suburban districts has | ¢pe yorrower, The test is his net worth. | prove his own security by requiring ing the home | Efliffiefndigugsfx?:?ri::y into perma- | You can go further with a man of | beauty in construction. The com- nent renters. I know of no agency that | modest means who has no liabilities | mercial value of beauty has been over- can accomplish as much to bring about | thay yoy can with the so-called mil- [looked. All value largely depends on good construction as can the mortgagee. | Jjonajre sutject to staggering liabilities. | demand and the attractive property is Good construction should be a condition | “The mortgage lender can make a | the salable property.” of every mortgage loan. “In loaning money intelligently and | conservatively, we need to know the whole picture. The owner's willingness is not enough. Other tests must be applied to_the earning ability of the | BUILT, TO ENDURE THROUGH THE YEARS ON ENTERING yz, fd 8, tres Hall with Stairway and Cloak Closet—to your left you pass through an archway to the Living Room (12.6x17 ft.), with open Fireplace, leaded glass bookcase and SECOND FLOOR 3, 5iner, Gosst in hall, and three double size Bed Rooms; master bed room across the front, with two large closets (one cedar) and private lavatory beautifully tiled. Large Speclal Dispatch to The Star. PHILADELPHIA, Pa., September 26.— The opinion that tiue value of real | estate will increase when financing is DLEY e $500 Cash, $65 Monthly Price Not Divulged. A famous estate near Charlottesville, Va. has been purchased by Hugh S. Robertson of the Todd, Robertson, Todd Engineering Corporation, which com- pany has the contract to build Radio City in New York. confined to those structures which are well built, and built only when needed, was expressed before the centennial convention of the United States Build- | ing and Loan League here recently by Robert J. Nash, real estate broker of 'Narberth, Pa. Buys All-Brick Semi- Detached Homes at 7th & Quintana P1. N.W. Near Rittenhouse St. Telephone Geo. 1534 Overlooking Klingle Valley Washington’s Outstanding Apartment Hotel radio outlet (built-in antenna). THEN THROUGH §Borash WAY to the Dining Room (134158 ft). with leaded glass China Closet, and French doors to arge porch. Sleeping Porch with access from two bed rooms; closets big enough for trunks. Main Bath Room tiled, with modern design plumbing fixtures; pedestal basin, 5 ft. 6 in. tub and shower. Cellar, with laundry BRIGHT, AIRY oo it snder matic hot-water heater for Summer use. Two- “Faulty planning as well as over- P i Ml o i+t Bk DETACHED HOMES— NO NEED NOW TO BE WITHOUT THE BEST ... At This Price, 510’250=0_(_1 Planned to give the utmost in home comfort. 5 Artistic bevond your imagination. High elevation and good ne horhood. or Six large and light rooms, real open fireplace, extra THOS. J. FISHER & CO., Inc. large screencd porches. Floored attic oyer entire house. / Copper gutters and downspouts. De luxe kitchen fix- 738 15th St.—Dist. 6830 Rental Agents tures. Everything the latest and best. INSPECT SUNDAY AND BE CONVINCED “You'll Decide That Nothing Else Will Do” 6522 7th Place N.W. |T o = ] e Ry ™ |l NO MATTER WHERE L. E. Breuninger & Sons A e {|J 1010 Vermont Ave. Dist. 9179 | } w ANT T 0 BUY! ‘ ‘ Never Before Have You Been Able oo TO Buy a Home High Schools. So Complete Naari8ioese At the Low Price! Most Convenient Terms In Highly Restricted Convenient Community of “All New Homes” Formerly the property of W. G. Moler, the estate contains 500 acres and is improved by & mansion contain- ing 20 rooms. The property was for- merly held for $150,000. The property was sold by the John Kreh Co., Inc., New York brokers, Mr. Kreh formerly was of Washington car built-in garage, heated, and paved alley in rear. HIGH-GRADE fecratiops and fx: tures. Beautiful 7 White Oak Floors throughout over 7 subfloer- nk, Console Gas Range, spacious pantry, ing laid diagonally; and Many Other Splendid built-in Cabinets, electric refrigeration. Features that must be seen to be appreciated. PRICED LOWER THAN THE ORDINARY 6-ROOM HOUSE 1336 SHEPHERD ST. N.E. +&E® Make Your Own Comparison—Today! Drive ont Michigan Avenue to 13th Place, then up the hill two blocks to Shepherd Street CHARLES M. WALLINGSFORD 1010 Vermont Ave, N.W, Owner & Builder National 2990 RIGHT is the Kitchen—twice the usual size—plenty of light ir; Armstrong’s A-grade Linoleum on the 6|9ar, Sal s on the walls, double drainboard 2737 Devonshire Place N.W. A few very desirable one and two bed room apartments with one and two baths—some with screened porches— available October 1. Secretarial service—Garage facili- ties with attendant to deliver and park your car, Petworth 4122 Fifth Street N.W. v ¥7,950 Open Sunday Furnished Apts.—Hotel Service Apply Resident Manager H you are looking for a 6 room and bath brick home in this vicinity, you will do well to inspect the Colonial Brick Convenient to | Homes. Outstanding Values 3634 Jocelyn Street (Between Connecticut and Nevada # “ k 3 enues) . 4 Also A lovely home, splendidly built, ’ X brick construction, slate rcof, with such features as furred walls, sun room, a real breakfast room, large awning-covered terrace; consists of six unusually well ned rooms, two baths and d, 7 Rooms. Seats Complete Eliot Jr. High Bath with Shower. Lavatory off Master Bed Room. 4 Bed Rooms. Concealed Plumbing. Easily Arranged for and Transpor- This House Will Sell Quickly at tation. $13,250 204 East Shepherd St. (Chevy Chase, Md.) A truly lovely new home of 1glish architecture, delightful- arranged, on a large shaded The rooms ere unusually rge, with two modern baths, reception hell, attic and & two- In Beautiful $13,950 Michigan Manor 5416 30th Place N.W. 0, REACHDrive’ out, Nort te %o Stitn'St., Gna’iert 1o Lo bers Muisty B4.) fiulr?xt or take Hrt,ugluv'rl car to All-brick detached home with Micsigan Ave. walk rioht to slate roof, on full size lot, in- 14tn' st. cluding electric refrigeraticn S and screens, open fireplace in Exhibit Home basement for recreation room ' 4421 14th St. N.E. and detached garage. $11,500 J. Wesley Buchanan Realtor (Exclusive Agent) Met. 1143 Facing Wide Street Leading to Sales in this d idential SMALL PRICED AT $10.600-9° peak for themselves itful restricted Tes- section. Built by C. H. homes here are the type truction that at first glance ice you of real value—val- 1t today’s careful buyers are Features include six and seven rooms, two beautiful baths, d orchid and green; bright, 1ful rooms, elaborate kitchen, Sanitas-covered walls; large pan- try with Westinghouse refrigera- tion, beautifully paneled walls side lights, practical fire- cedar closets daylight cel- arg> lot beautifully planted 2nd completely sodded. Paved strect—garage. Apartment Upstairs. X Electric Refrigeration. Government Natural Wood Trim. Hardwood Floors Throughout. Large Porche: Big Yard. HERE'S THE HOME You've OFTEN DREAMED of OWNING And it is a perfect dream of a home . . . center hall plan , . . six large rooms . .. two lovely baths . ... 2-car built-in garage . . . kitchen with tiled walls and electric refrigera- tor . . . large attic, finished with Celotex . . . many closets—cedar lined . . . concrete side porch . . . slate roof, with copper gutters and down spouting . . , bronze screens . . . beau- tiful landscaped lot . . . truly a wonderful buy for some one in a new home of distinction. Edw. H. Jones & Co., Inc. Chevy Chase Properties 5520 Conn. Ave. EXHIBIT HOUSE OPEN TO 9 P.M. 1802 C St. N.E. We Invite Your Inspection! Gruver & Marshall Builders Park. Landscaped Lawns. 17 East Woodbine St. Chevy Chase, Md. $15.950 Drive out Conn. Ave. and turn right at Woodbine St. to home. OPEN SUNDAY ALL DAY Stone Retaining Wall. Waple & James, = Agents 1226 14th St. N.W. Tower Bldg., 14th and K Dist. 0853