Evening Star Newspaper, May 20, 1933, Page 14

REAL ESTATE. 'SWEDEN AIDS 100, VENING STAR., WASHINGTON, D. C, SATURDAY, MAY 20, 1933 INCREASED DEMAND through the garden cities, which were the estates of wealthy Swedes, pur- chased by the government 10 years ago in its campaign to solve the housing LAND VALUE GAINS | SEEN DOWNTOWN Morton J. Luchs Forecasts New Life for Capital’s Business Section. ‘The coming of the Federal triangle development to that section of Penn- sylvania avenue between Seventh and Fifteenth streets is destined to infuse new life into this old downtown busi- ness section, in the opinion of Morton J. Luchs, vice president of Shannon & Luchs_Co. Analyzing commercial rental condi- | tions, Mr. Luchs points out that oc-| cupancy of the new Justice and Post Office Department Building, now being constructed, will mark the next im- portant step in a movement which is destined to make this one of the most important retail centers of the city. Declaring property values in this area will soar to a newv high level, Mr. “Eventual concentration of the bulk of sixty-odd thousand workers*in this comparatively limited section cannot but prove of great benefit to already existing banks, stores, hotels, restau- rants, and at the same time attract | other desirable enterprises. This trend | also will serve to focus attention on the long-ignored need for rebuilding a considerable part of the section and the immediate advisability of mod- ernizing much of the remainder.” Earnings Satisfactory. Earnings of commercial properties in the best downtown sections have been satisfactory, conditions considered, and the so-called city central zone has permanently been placed on a safe | rental basis for ownership, according to Mr. Luchs’ analys! “There has been a slight contraction in the commercial rental field, but the amall amount of space thus left tempo- rarily untenanted is already being rap- 1dly reabsorbed. The number of fore- closures have steadily decreased and, of almost equal importance, there has | been noticeable improvement in col- lections.” | Any analysis of the property situa- | tion in downtown Washington, says Mr. | Luc! must be made on the basis of | a long: e view, since this type of realty is almost invariably tied up in long-term leases. Such leases, he adds, have been a powerful influence in | stabilizing the values of the properties. | “There is no intent to imply that | business property entirely escaped the | general marfimg up of prices to un- | justifiable levels, but rather a purpose to make it plain that the fluctuations | were not so severe in this class of realty as in properties of more specu- lative character. It is likewise true that where leases had expired, or where business troubles made such advisable, new leases were written at lower levels. To the credit of many owners it can| be truthfully said that they volun- tarily reduced rents wnen it became apparent to them that rentals were higher than the business of the tenant | oould bear. Section Holds Value. “Traffic growth has benefited the neighborhood business centers, but this | has had but little effect in retarding the steady growth in value of the| better downtown property. The fact that practically all such properties are now, and long have been, in the hands ! of ‘the most conservative elements Jends strong support to this conclusion “The much-discussed partnership of Government and business has yet to prove its merits in practical applica- tion. The partnership of landlord and merchant, however, has fully demos Among the Interesting Homes Sold, Being Built, And Now on Sale In the New Shannon & Luchs Development Company’s Restricted Section of Chevy Chase is a new master studio living room corner home on an extraordinary commanding lot which is priced now at $14,500 during construction. inside 2-car garage. Automatic heat and electric kitchen. (All price quotations limited to 30 days.) A new center hall, pure Colonial, 2 Baths. A real exquisite home— Price now, $11,550. This includes the new Gilbert and Barker Standard Oil Oil Burner. A beautifully situated roomy center hall home —now $10,250. For larger families—a truly marvelous home with 4 bedrooms and 3 baths, electric kitchen, automatic oil heat. Enor- mous closets, big attic with full stairway. A most spacious center hall plan and done in_the most precise Early Eng- lish and American Colo- nial—price now $13,950 to $14,500. BE INFORMED WITHOUT ANNOY- ANCE—Open Saturday and Sunday and Satur- day & Sunday Evenings. et R elana . four sign), turn lejt 2 squares to ‘homes and the architectural office. DON'T REGRET—INVESTIGATE NON.& LUCHS Development Company Proposed Inflation Would Raise | ba. |vears of 1916 and steadier. mediately, and probably fairly slowly. | was stable during 1916. but rose rather Residence of Mr. and Mrs. Dial H. Elkins at 2912 New Mexico avenue, Wesley Heights, acquired recently from the builder, Edwin L. Taylor. The home, of early American design, has six rooms and two baths. —Star Staff Photo |TOBACCO CROP DECLINES)| ome From Maryland Yield May Be Only 53 Per Cent of 1929. Income from last year's Maryland to- cco crop will probably be about 53 per | cent as great as in 1929, according to Richard C. Ross, agricultural statisti- clan for the Maryland Crop Reporting Service. Similar comparisons for other | crops in the State are: Corn, 30 per cent; wheat, 18 per cent; | CHICAGO, May 20—Comparing | Cen.; potatoes, 35 per cent; sweet pota- | 20 per cent; apples, 28 per cent; the proposed inflation with the 225| [0, B0 PEF Cent: appies, 49 BOC Cenfs per cent rise in prices during the War|per cent, and strawberries, 46 per cent. 1917, A. D. Theo- = -~ bald of Chicago, director of research for | the American Savings, Building end| Loan Institute, affliated with the| United States Building and Loan League, asserts thet the prosperity of those years was brovght about primarily by Government activity. “If we do have inflation, the effect will be rising real estate prices,” says Mr. Theobald. “That certainly hap- pened during the war, but in the next six months, after inflation is under way, we should not expect real estate to be SLOW PROPERTY GAINS PREDICTED Inc Property Values After Other Prices, Expert Believes. _ | ., Furnished Colonial Detached Home in American University Park baths with completely mod- rtistic recreation room, detached _neighborhood, hool, churches, stores transportation. ve out Mass. o 49th. Ave. t ine, left at in the front rank of the price rise, as are stock market securities and whole- sale commodities. Bungalow Price, “3;3,500 0 Cash—s: The rise will be a ter and a little slower, but | Rents will rise, but not im- littie | ark, Md Eim St 11 §i, into Westmoreland Ave. Lo bunga- low The tendency is for interest rates to rise, as is indicated by the war experi- ence. The best criterion is bond yields, | and one table for 10 great railroad bonds—prime investment after Govern- | ment securities at that time—the yield | Bungalow $4,950—Terms Aurora Heights, Va. Newly decorated throughout. cor ing six large rooms and bath, cell hts, large lot with fr rubs. rapidly during 1917, going from a little | more than 4 per cent to 5 per cent in| the middle of 1918, an increase of around 20 per cent in the interest rates SR g o st Cross Key bridge to Lee = Highway. 9-10 of mile to Bungalow, #20 Villa Road. strated its effectiveness in undergone during the last few trying | years. It has been made plain tha a merger of successful tenant and pay- | ing property is unbeatable in any period | of hard times.” Open Sunday for Inspection Jos. A. Herbert & Sons 515 East Capitol St. Lin. 0129 3831 Garrison Stret N.W. This beautiful detached home situated on a lot 60x122 ft. and in new-house condition is the outstanding buy of today, located in one of the best and convenient residential sections of the city. 8 large rooms. 2 baths. Electric refrigeration. Silent sutomatic oll burner. Very spacious porch. 2-car garage. We invite your 1nspection. Direction Property— Conn. Ave. to Harrison St., west on Harrison to 39th, south on 39th to Garrison. N Corner to H. E. Brockson Real Estate Wi. 4832 EW DETACHED HOMES 20th & Shepherd Sts. NE. Biggest Bargains Ever in This Section The best allbrick, detached,.2-bath, built-in garage homes. Open and lighted until 9 o’clock. Come out today. —Price Only $8,950— Lots 45x100 Big Front-entrance Garage Big Side Porches Linoleum in Kitchens 6 Rooms and 2 Baths General Electric Refrigerators New Public Schools Breakfast Rooms TWO BUS LINES RUN TO THE DOOR Drive out Bumker Hill Rd. N.E. to 20th St. and turn % square south, or out Rhode Island Ave. N.E. to 20th St., themce north to house. H.R.HOWENSTEIN (G 131 H STREET NORTHWEST FOR HOMES SEEN Costs of Sewers, Paving and Other Improvements, How- ever, Held Too High. (Continued From Pirst Page.) capita cost of education climbed from | $4 to $28, according to figures of the| Federal Government. Other expendi- | tures have increased proportionately. Il this time real estate has been footing three-quarters of the bill and today, after 40 months of market stag nation, it is paying 72 per cent of the | total cost of the District government. | “If this condition were not remediable | it would, of course, be useless to discuss | it, but the city, having no bonded debt to eat up many millions in interest and funding charges annually, would appear to be in a position to do some thing about it. Home of Mr. and Mrs. R. T. Balch in the Homewood section of Aurora Hills, | Va., purchased recently from the builders, the M. H. Barry organization. “Twenty years ago only N postion of our population to buy automobiles. In 1929, a small pro- | could afford | sharp increase in reaity development in when | the more opep sections of the city. r | When he begins to bargain for a home, every third family owned its own car,| The demand will be for homes roomy, we were told that the next great stride | comfortable and inviting in appearance, forward would take the form of a wide- | many possibly with gardens. The spread home ownership demand. Com- | drudgery of housekeeping will be ban- paratively few bought hof in that|ished. ~There will be refrigeration, year or in any of the succeeding years, | washing machines, new types of heat- | however, and today, after three years|ing apparatus, scientific cooling and| of enforced living in cramped quarters | ventilating, cooking by dial and clean- | or doubling up with others, there arc| ing by vacuum; sun room, breakfast unquestionably many thousands of | nook, large modern bath room, garage, families determined to seek future | and most likely some attractive shrub- | security in home ownership the moment | ber their incomes again justify such pur-| “Co-operation of the government is chase. | essential to getting this multitude of | ‘Having | deserving workers into homes up to ?:Ilfir,‘#;e | 1933 standard. The cost of sanitary | n | and storm sewer and water supply in- in construction quality. When he pur-|stallation is too high. Such service chased his car he demanded something | could be provided by the private builder | attractive, comfortable and dependable something which could be run at at a cost of much less than $6 a front foot. or $12 if the project includes both moderate cost in upkcep. This will be merely his starting point in demands learned the value of hi: home buyer is going to see he gets his m sides of the street Moreover, a part of the burden of street construction, pav- ing and sidewalk laying should be !lifted from the shoulders of the builder come a of communities. With the original cost a lifetime investment. “With decentralization will R RRERRE! SHEPHERD PARK $12,950 /] | | 7708 12th ST. N.W. Brick and stucco on hellow tile ® Two-car garage ® Two baths ® Breakfast alcove ¢ Center-hall plan o Beautiful lot o D out Alaska Avenue to 12th Street, then ome block morth HENRY J. CONNCR Builder - G}E 1446 FBUBUBUTUTU T GO NOW. « « Something NEW! . . . A Six Room and Bath Home with an OUTDOOR LIVING ROOM Priced $5'950 at Only Near bus— stores — school 2 miles from White House. Corner Fern and Chestnut Now Open for Inspec- tion in LYON PARK Nearby Virginia’s delightful close-in home development ome contains studio type recreati porch—model kitch 5 lovely rooms and bath with shower on first floor: large on 1 3 replace—large screened living en w d refrigeration—new type gas ge—all other conveniences. including ndscaped and sodded. If interested, we suggest Iy L is home 15 really a pre-war value at this price. To inspect—Drive over Key Bridge—take Military Road through Rosslyn and Fort Myer to Pershing Drive—follow our signs to property T. J. BRUMBAC Builder LYON & FITCH, Inc. Owners and Developers of Lyon Park and Lyon Village, Va. Walnut 8921 Clarendon Virginia The Outdoor Living Room 'or the raw land, the cost of obtaining clear title, the fee for accurate survey and platting, expenses incidental to meeting Planning Commission demands and various other charges added to the cost of utility installation, we have an outlay for a small lot which at the outset defeats the best laid plans for ecenomic home construction.” Hot Water Lines Need Probe. Hot water lines should be examined to determine whether or not they are full of scale and if large quantities of scale are found, steps should be taken to prevent scale and to remove that al- ready in the pipes. FIRST SHOWING TODAY 5323 Nevada Ave. CHEVY CHASE, D. C. (Where Nevada Avenue intersects Nebrasi & |2 [T Two Blocks from Conn. Ave. Built with the skill and ex- perience of vears. this charming all-brick Coloniai home should attract the discriminate buyer. All Brick — 28 Feet Wide Insures a spacious home of six large rooms; two lovely colored tile baths; kitchen to sttract any woman; screened living porch; brick garage. Large accessible attic and splendid cellar. Screens, metal weather strips, Kelvinator, Automatic neat. Large lot sodded and planted. Everything is here. You need no extras. Built of the highest quelity of leb>r and m:icizl, we Offer you a lifctime home 2t today's passing low construction cost. $11,500.00 H. P. Huddleson & Co. (Builders of Fine Homes Since 1919) Location, preservation of natural contours, 'SMALL HOME OWNERS Development Known as Garden Cities So Successful Middle Class Is Attracted. \ [ | | | . More than 100,000 persons in Stock- | holm.~ Sweden’s capital, have erected | small houses in and around the city | In the last 10 years with the financial |aid of the government. These de- | velopments are known as garden cities | and are so attractive that middle-class ;rp#ldrm.s are planning similar develop- ments. This greup, however, will not | receive financial assistance from the | government, | _ According to Associated Press dis- | patches from Stockholm on this inter- | esting housing development for the | low-income clase, it was said that a vast improvement in the social and economic status of the y=ople has been th;_nresuu. e government will finance up to {90 per “cent the_cost of constructing a small house. For a modern cottage of three rooms with a kitchen and full basement the house buyer pays $260 :‘e;:'nlr This nr}rlxortlzes the govern- can, pays the interest other charges i | . The interest charge the government | heuses. problem of its people. Nearly one-fifth of the ulation of Stockholm now lives gmm financed by the government. There are others who rent municipal-owned Occupancy in these buildings is limited to those whose income is not more than five times the rent charged. A factory-bullt cottage is becoming | popular in the garden villages. These | bulldings, it is said, may be erected in a day by a group of skilled work- men. Gasoline Stations 9 Fewer. BALTIMORE., Md, May 20.—The number of places for the sale of gaso- line in this city decreased from 1,131 to 1,122 during the two years ended last December 31, a drop of nine, according to a report of Samuel T. Griffith, head of the Weights and Measures Division of the Municipal Bureau of Standards. Mr. Wm. J. Donnell§ Announces His Connection With the Office of esse L. He 1115 Eve St. ) And Solicits the Patronage of His Friends and the General Public in Sales—Rentals—Loans and Fire Insurance invests in road developing, mstallation Experienced and Reliable Service of gas, water and electric mains CHEVY CHASE, Md.—*11,950 An English Home in Perfect Setting Located west of Conn. Ave., a little beyond Chevy Chase Club, this heme 1s decidedly the best buy on today's market. On a wonderful lot 60x120 feet with many fine hardwood trees. Brick, stone and stucco construction, six exceptionally larg> roo two perfect baths, pantry with electric refrig- erator, attic, maid's room, garage, all in perfect, new house cendition. If you have baen looking for a reasonably priced home in a select neighborhood, by all means see this property today or Sunday. 6411 RIDGEWOOD AVE Reached via Connecticut Ave. to Thornapple St. turn loft (west) two squares to Ridgewood Ave. RM HOOKER Metrop- 2663 Tower Bldg. Spring Valley &5 The Garden of Beautiful Homes beauties and caraful selection of resident personnel, community life, pride of ownership, distinctive de- sign of each heme for its individual setting, quality of constructon, rigid control, experience and integ- , rity of dveloper: # Valley the subli all are factors which make Spring in residential communiti EXHIBIT HOME 49th and Quebec Streets GENERAL ELECTRIC KITCHENS Fully equipped with the most modern electrical appliances through the co-operation of the NATIONAL ELECTRICAL SUPPLY CO. d an THE POTOMAC ELECTRIC POWER CO. HINK OF Room New [ & ] ¢ 6351 Thirty-First St. N.W. This detached s wooded D. C. section Section of Chevy Chase, D. W. C. & A. N. MILLER DEVELOPERS 1119 SEVENTEENTH STREET IT! A Beautiful 6 Home in the Best C., for ® WOODED LOT 50x157 FT. & WONDERFUL ENVIRONMEN' ® 6 CHARMING ROOMS COLORED TILE BATH ® WOOD-BURNING FIREPLACE ® MODERN MODEL KITCHEN ® LATEST BUILT-IN FEATURES ® BEAUTIFUL GARDEN WITH FINE OUTLOOK ® DETACHED GARAGE @ BUILT BY RING CONST. CO. ® OPEN 9 AM. TO 9 P.M. BEAUTIFULLY FERNISHED BY HUTCHISON'S 5 < i > . . . located in the wonderful new of Chevy Chase, is easily the L:ost home buying oppor- ix-roomt residence . tunity of 1933. Don’t miss a chance to see it while it is furnished and open for public inspection ! You'll enjoy every feature! The price is RIGHT in keeping with the times and the spaciousness of the living room, dining room and three bed already possess. fail to pay it a visit! DIRECTIONS: To to Cheyy Chase Circle. to Rittenhouse,’ turn to 31st Btreet, turn ris) o _Utah t to homes The tiled bath conte rooms is such as +~ accommodate the furniture you built-in tub and shower. Don’t DRIVE OUT SUNDAY reach, drive out Connecticut Avenue turn, Tight on, st Avenue Avenue. turn left 8t end of street.