Evening Star Newspaper, February 20, 1932, Page 19

.REAL ESTATE New Home Rising for Public Health Service STEEL FRAME, NEARING COMPLETION, REVEALS STRUCTURE'S OUTLINE. SEEKING MILLION NEW HOME OWNERS Building and Loan League Sees Move as Tribute to Washington. A million more home owners in the | United States by the end of 1932 is an objective proposed by the United States Bullding & loan League as a fitting tribute to George Washington in the year of the Bicentennial cele- bration—and an accomplishment eco- nomically desirable. The economic field for such an ex- | pansion of home ownership is pointed | out by William E. Best, Pittsburgh, | president of the league, in a message | sent today to the 2,109 affiliated build- ing and loan associations. “There are 12943,598 families still | renting their houses in the country | where George Washington and his fol- lowers fought to make sure that every man should have a chance to own a plece of ground and a home of his | own,” says Mr. Best, citing the 1930 | census figures on home ownership, just Teleased. | “Home ownership, always a mark of | political freedom and of equal oppor- tunity, was the goal of 9 out of every 10 families which settled on our Atlan- | tic coast. The victories of their War of Independence were triumphs for home ownership, which only 43 per cent of our present day people are tak- Ing advantage of. Prices at Bargain Levels. “With prices of homes at bargain levels and 83 per cent of the popula- tion still gainfully employed, a mini- mum of 1,000,000 more home-owning families should be created this year. This number is not more than 5 perf cent of the 83 per cent said to have Jjobs, and scarcely 8 per cent of the total families not living in their own homes. It is a conservative start which should be multiplied ever year as one of the goals of building and loan asso- ciations, clvic organizations and edu- cational movements. The real army | safeguarding the ideals of Washing- | n's country is made up of the 10,- 00,000 home-owning families now in the country. They have the same kind of a stake in the future as did the revolutionary ancestors. It is our duty, all other considerations aside, to in- crease that army. “It is noteworthy that in this Bi- centennial year of the first President, the Federal Government is taking steps, by means of the Home Loan Bank bill, sponsored by the administration and now before Congress, to promote home | ownership on a scale never possible be- | fore. By adding stability to the home | financing system this proposed agency | would enable building and loan asso- ciations and other institutions making | long-time home loans, to meet legiti- | mate demands for new home loans and | refinancing at all times of the year and in any phase of the business cycle “At present there is a buyer’s market in homes which will help many to real- | ize their lifetime desires for their own rcof. Today $3,700 in the home market | will pay for the kind of & home which would have cost at least $5,000 five years ago to build. This figure is based on the construction material prices as of December 31, 1931, when the prices were 73.7 per cent of their 1926 whole- sale averages for the same month. The Jumber dollar is worth 35.7 cents more than in 1926—the brick dollar has gained 205 cents in house-building value, and the cement dollar will buy 25.4 cents more than it did five years ago. These low prices represent a fur- ther fall of a fifth of 1 per cent for the last two months of 1931, or an average $100 on a $5000 house in a e Sees Patriotic Results. ‘Mr. Best said buying a home is con- sistently patriotic, whether looked at from the eighteenth century or the 1932 angle. Pulling money out of hiding and investing it is one of the most impor- tant services a man can Trender this country at present, said the league head, who attended the Hoover anti- hoarding conference last week. “No safer place for savings has ever been found than investing in a home, D. C, SATURDAY, FEBRUARY 20, 1932. npaEEEnEEE i< e iR B Located in the western section of the Federal building field of activity here is this skeleton of what will be a mag- nificent marble-faced building to house ti teenth, Twentieth and C streets and Constitution avenue, in keeping with the Pan-American Building to about $865,000. he Public Health Service. the east and the National Academy of Science to the west. It is being erected in the square bounded by Nine- overlooking the Lincoln Memorial area. It is to be of a character It will cost he declared. “Whether in good times or bad, the same kind of dividends—satis- faction, freedom from rent and landlord dependence, security, pride of owner- ship, accrue from an owned home. Such an investment is always a tangible asset, never a shrinking paper value, such as some investments unfortunately prove to be. “Those who already own their own homes may have a part in this new ‘Washington tribute by investing their money for home financing purposes. A home is not only a safe investment for | the man who lives in it, but also for the | man who lends money to finance it. Building and loan associations, with | 90 per cent of their assets in mort- gages on homes, have a safety record | of 99.95 per cent of their total assets| over the past decade. No greater proof | of the home owner’s stability in our | financial system can be had. Money pulled out of hoarding and invested in the home fleld will help building and loan associations finance the million home owners we expect to create this year.” —_—— Two-Story Home Planned. Specifications calling for the con- struction of a two-story brick dwelling at 4808 Forty-sixth street have been filed with the District government by George E. Pruett. owner, and G. R. Pruett, builder. The construction cost is estimated at $8.000. DETACHED ENGLISH HOMES of BRICK and STONE Construction! Variegated Slate Roof Deep Lot with 2-Car Gar: 4 BUILT—3 SOLD! 6814 9TH ST. N.W. Open to 9 P.M. Daily! 7 Rooms (4 Bedrooms). Spacious Living Room With Artistic Stone Fireplace, Large Master Bedroom, 2 Complete Baths, Beautiful Interior Decorations and Kitchen: Sanitas_a! Inlaid Linoleum. Quality Gas Range, Electric Refrigerator. This Home Is Priced for Immediate Sale! Terms Arranged! Your Prompt Inspection Invited “See the Beautiful Club Room™ (It Is Different.) Built by S. Eig Construction Co. WAPLE & JAMES, INC. 1226 14th St. N.W. North 0962 WM. H. SAUNDERS CO.,, Inc. 1519 K St. N.W. & ~ ———— e A Distingmfiled Residence at Moderate Price Open Sunday for your inspection 104 PRIMROSE ST. $17,500 2942 McKinley St. $12,950 All large bed rooms, two splendid baths, at- tic, recreation room, breakfast room. Latest kitchen equipment. Stone open fireplace. Dist. 1015 PASTOR WILL CONTINUE LENTEN CONVERSATIONS Rev. Herman McKay to Preach on “The Family of Nations” Tomorrow Morning. “The Family of Nations” will be the theme for the service tomorrow morn- ing in Union Methodist Episcopal Church by Rev. Herman McKay, min- ister. The friendship hour of the young people is at 5:45 o'clock. At 6 45 with the cial Lenten “conversations” o'clock the pastor will continue the spe- | 7-RooM | Epworth League members on “Religion ’m a Changing World.” At 8 o'clock the sermon will carry out the idea of the | league meeting. “The Problem of Suffering,” from the Book of Job, will be studied at the devo- tional meeting Thursday. A banquet Friday at 6:30 o'clock will open the conference on the educational work of the church which is to be held February 26-28. Speakers will be Rev. | John C. Millian, director of Christian | education for Baltimore Conference; | Miss Marion C. Armstrong, conference superintendent of elementary work, and Rev. Mr. McKay. Group meetings with the officers, teachers and workers of the church organizations will be conducted on Saturday and Sunday afternoons by Mr. Millian and Miss Armstrong. At 8 o'clock Saturday there will be a meet- ing of the men. e SEE THESE CAFRITZ LIFETIME HOMES TODAY HOMES © RECREATION ROOM With 17x20 ft. completely finished in floor plugs. your entertaining at no extra cost. » ? modern lighting fixtures, two windows, heat, finished stairway, No Obstructions. An extra room the basement for a den or for Textured walls and ceiling, SMALL CASH PAYMENT construction, 3 wide covered porches . a model kitchen in buff snd greea double tiled drainboard. tile and colored fixtures, and latest large closets, extra floor plugs . . . Ha metal weather stripping, double-floor . built-in _garcge wit Dl Btreet and alley paved and paid *8,950 Colonial, varlegated tapestry brick fronts wit 7 spac h “‘Over-the-Top' TERMS LESS THAN RENT h_ Mansard roof, all-brick us, well planned rooms, with Color scheme, built-in cabinets, sink with fold-away dinette st model gas range, electric clock, linoleum flooring . built-in_eqiiipine: rdwood floors thi Frigidaire with cold control, _"De luxe bath with colored clous rooms with it, copper screens. con: Jacket heating d one-piece door for by Ca 4th and Farragut Sts. N.W. living room (14 Il » = I 1258 18- ws CAFRIT ® OVER 3,000 LIFETIME HOMES BUILT AND SOLD WE INVITE YOUR of the very desirable apartments of this type—two bedrooms, spacious Dist. 9080 W ashington’s Most Distinguished Apartment Residence INSPECTION ft. by 21Y, ft.), dining alcove and bath at $100 TO $115 PER MONTH HOME LOAN BANK PLANS ANALYZED BY PRESIDENT OF BUILDING LEAGUE (Continued Prom First Page.) monthly repayment, mortgages for eight years or more, and on such mort- gages a home loan bank may advance or lend not inyexcess of 60 per cent of the unpaid principal; (2) other home mortgages on which may be advanced 50 per cent of the unpaid pricipal. No advance can exceed 40 per cent of the are jointly and severally liable and the bonds are lawful as investment and security for all fiduciary, trust and public funds under the control of the Government. “9. Each bank places in a reserve account semi-annually 50 per cent of its net earnings lfilfll the reserve equals the paid-in capital; after that 25 per cent of met earnings., There are the usual for dividends, examina- tions and reports, unlawful acts and penalties, restrictions against use of name and the Federal Reserve banks are authorized to act as depositories, cusf or agents for liquida- tion purposes.” —_ REAL ESTATE. NEW BIBLE CLASS WILL BE ORGANIZED Walter M. Michael Will Preach on “The Character of Washington.” A new Bible class will be organized tomorrow at 9:30 am. in the Bible school of Eldebrook M. E. Church under the direction of Dr. Glenn F. Rouse, superintendent. The pastor, Rev. Walter M. Michael, Rev. ton.” The choir will Fontor chlr, Girehen 17 Gosnell, will render special numbers. Oxford League will meet at 7 pm. A group of nine young from these socleties will attend the orth League Institute meeting at Falls Church, Va., over the week end, and will give a report of their experiences and impres- sions at the evening service. The midweek Lenten ssrvice will be held Wednesday at 8 pm. The pastor will deliver his second address on & series on “Lenten Meditations.” The Community Ladies’ Bible Class itheir maturity apd interest rates. All appraised valuation of the real estate and there are additional restrictions regarding the relation of the loan to the appraised valuation. No mortgage can have more than 20 years to run to maturity, nor can upaid principal exceed $15,000. These advances, in ad- dition to the mortgages deposited as collateral, are secured by a note—that is, by primary and unconditional obli- gation of the member. Money on Hand Required. “7. In order to keep the 12 banks in proper condition, each one must at all times have an amount of money equal to the capital subscriptions of its members, in (1) United States Gov- ernment securities; (2) interest-bearing deposits in banks and trust companies, and (3) loans to members with a ma- turity not greater than one year. “Other than above, the funds of the bank, including funds received from the sale of bonds, may be loaned to members for long periods of time. “8. The board is given broad powers with regard to the types of bonds, will hold a social Thursday evening at will preach a patriotic sermon at 11 the home of Mrs. H. E. Riley. from Russia last year am. on “The Character of Washing- Furs exported were valued at more than $25,000,000. bonds are secured by home loan mort- gages, the unpaid balances of which have an apprpximate ratio of $Z for each dollar of bond issue. The banks 4 Stone Bouse Enchanting in its sylvan setting of pines, contains a surprising interior, more spacious than the skillfully balanced architectural lines of its exterior portray. You will enjoy a few moments of your time Sunday in this delightful house. It is vacant and has been re- decorated throughout. 5201 Colorado AVE. N.W. $27.500 You will be surprised and delighted by an inspection of this most attractive home and spacious grounds. Located one-half block east of 16th st. on a wide avenue, noted for its distinctive homes. A Breuminger-built, center-hall brick, with wide hallway, spacious living room, sun parlor, dining room, kitchen and butler's pantry: two concrete porches. Four Master bedrooms and two baths on second floor. Two huge rooms, bath and cedar storage room on third floor. Gas heat: large, built-in Kelvinator; 2-car garage. and many other pleasing features. The corner lot, with a total frontage of 203 feet, is beautifully land- scaped, and contains a dozen giant oak trees. Open This Afternoon and from 10 A.M. to 9 P.M. Sunday and Monday Going in to Wesley Heights, via Cathedral Ave., turn left at Second street (Forty-fourth St.) to property. 2914 44th St. The lot—160x135 H.C.& AN AMiller 1119 17th St. Decatur 0610 Rea]ty Associates, Inc. Realtor National 1438 1427 Eye St. A FIRST OFFERING of “HOMES SUPREME” FACING “FORT SLOCUM PARK” DRIVE FEATURING 7 Large Rooms 2 Fine Baths Recreation Room with Ornamental Fireplace Oxford Kitchen Units Double Drain Sink Frigidaire Bronze Screens Cedar Closets Built-in Garage Clear Oak Floors Hardwood Trim SAMPLE HOME—326 MADISON STREET N.W. Furnished by Dulin and Martin fixtures, tiled with black and white tiles, floors tiled with a beautiful basket-weave pattern; real bed rooms with excellent wall space, lots of fresh air and rich decorations; a spacious living and dining room, arti tically decorated; a sun room of real use- fulness, with plenty of sunshine; clear-grain oak flooring, hardwood trim, natural finish; large colonial front porch with concrete floor ; nice size screened-in sleeping porch; a real recreation room in the basement, with outside windows and a fireplace equipped with “Radiant Fire” gas heater, American Radiator Company “Red Jacket Boiler” heating system with automatic hot- water heater ; large, roomy, built-in garage with “Over the Top” doors—and all located just a block from Fort Slocum Park and facing on the wide “Fort Drive.” A truly timely offering to the Washington public—homes that after years of building, we believe, have just about reached the heights of perfection. Homes that are planned, constructed, finished and located to endure the test of time. Homes that during these times of “Wise Dollars” repre- sent the utmost value in dollars and cents. Think of the dream of your ideal horne, then come out and see the home itself. Fea- tures that invite the attention of the critical home purchaser, such as an “ultra modern” kitchen with built-in latest type “Oxford” kitchen cabinets ; 72-inch all-porcelain, one- piece sink with double drainboard; latest type “Frigidaire” electric refrigerator; beautiful Detroit Jewel console type gas range ; bath rooms with Standard plumbing These homes will undoubtedly be sold quickly. The terms are reasonable. Come early and make your selection The construction and finish of this exceptionally desirable new home impress you at once as characterizing un- usually high standards of structural excellence. Its loca- tion, one square off Connecticut Ave., is one of the choice sites in Chevy Chase, Md. Center-hall plan. Spacious rooms, two baths, breakfast room, large screened porch, large recreation room, electric refrigeration and Curtis built-in cabinets in kitchen. Unusually large rear yard. Two-car garage. Drive out Cownecticut Avenue to Primrose Street, one block right to honse G. F. MIKKELSON & SON 200 West Thornapple Street, Chevy Chase, Md. Wisconsin 4255 Wisconsin OPEN SUNDAY and DAILY 10 A.M. until 9 P.M. Built and for Sale by H. G. Smithy Co. Members Washington Real Estate Board Including electricity, electric refrigeration, gas; and parking facilities for guests of tenants. The KENNEDY-WARREN Washington'’s First Air-Cooled Apartment 3133 Connecticut Ave. NAtional 5903 1418 Eye St.