Evening Star Newspaper, July 8, 1933, Page 15

¥ 7 REAL ESTATE REALTY OUTLOOK BRIGHT IN CAPITAL President’s Steps to Settle Job Muddle and Bank Mer- ger Situation Helpful. President Roosevelt's intervention in | taking steps to settle the job muddle | in so far as it concerns District and | Federal employes, and the imminent re- | lease of $11,000,000 in bank accounts through the Hamilton National Bank merger, should remove the last two| major obstacles to rapid and complete recovery of the local realty market, the Washington Real Estate Board said in a statement today summarizing con- ditions in the local realty field. “The extent of damage to local busi- ness interests directly traceable to the uncertainty which for months hedged the status of more than 66,000 resident Federal workers is almost in- calculable,” the board sa:d in its analy- sis. “This, with the abrupt impound- ing through banking difficulties of more than $32,000,000 of the working or quick turnover funds of the dt)" virtually nullified even the most heroic | organized efforts at economic recovery along any other lines. | “Now, however, that the President has centered his attention on the local Federal employment phase of the re- organization program, and the neces- sary subscriptions to reorganization have been made and only the volumi- nous details incident to the merging of eight banks into one remain, it would appear that the way had been cleared for an orderly and swift ad- vance along the entire real estate busi- mess front.” While frankly dealing with problems which for more than three years have bedeviled the local realty fleld, the board's summary is decidedly optimistic. “In spite of the tremendous pres- sure of national and international af- fairs since March, Washington, largely due to efforts of the newly organized Washington Taxpayers' Protective As- | sociation, can point to a notable achievement in tax reduction. “The importance of this cut in the tax rate has apparently been under- estimated by the general public. This reduction of more than 11 per cent, together with the accompanying slash in assessments on every parcel of busi- | ness property west of Sixth street and | north of Pennsylvania avenue, and on much residential property as well, means in many instances the differ- | ence between paying and losing in-{ vestment. It means assured tax pay- | ments to the city and added insurance | to the mortgage holder. It represents increasing returns for all investment Pproperties and is a powerful argument | for the restoration of confidence in the future of Washington real estate.” | Of the local employment situation | the analysis says: | “While assurances repeatedly have | beer: given that only a relatively small number of resident governmental work- ers would be discharged under the | budget-balancing reorganization of personnel plan, the uncertainty as to where the ax would fall threatened | to demoralize the entire army of Fed- eral employes. The situation almost automatically paralyzed from 40 to 50 per cent of the District’s buying power. | “In_consequence many negotiations | for the purchase of homes and the | leasing of apartments were abruptly terminated. while buying, saving for the most pressing need, ceased. “Although no details of plans de- signed to allay this widespread fear | of dismissal have been announced in any authoritative quarter, knowledge | that the President is at work on the| problem already has had a most whole- | some effect. “To date some 4.300 local Federal jobs have been vacated. In certain jnstances this has meant merely the transfer of workers from one bureau to another. In fact, more than 1.000 of the old rank and file employes have | been taken care of in this manner. a| check-up made by labor organizations discloses. Recently the heads of sev- eral executive departments announced | that arrangements were being made | to give all competent, discharged work- | ers first consideration for re-employ- | ment in newly created bureaus. In| addition, it is estimated that in June alone the creation of new recovery | agencles provided posts for approxi- | mately 1,500 fresh workers in Wash- | ington. Moreover, as the recovery ma- chinery gains in momentum, hundreds and probably thousands of positions | will be created in the Capital, adding | to the local pay rolls and proportion- ately Increasing buying power. “It is certain that there is nothing in this situation to support anything other than the most sanguine hopes for the future, and there are already evidences that realty interests are al- ready beginning to profit by this re- turn of confidence.” An Unusual HOME Semi-Detached All-Brick 2.Car Detached Brick Garage Located in s convenient and attrac- tive residential section. t 47 feet de with a fine assoriment of flowers and » lily pond. House contains s total of eight rooms and two baths, in- shed room and complete bath he side, that could be us office. Second floor equipped dy % an with entirely sepa- as an apariment, rate entrance. This certainly is a bargain at $6,150 1421 T St. SE Open and Lighted 2 to 9 P.M. Sunday _ HARRY B. PITTS 1343 H St. ME. 4300 COME OUT TODAY AND SEE THE NEWEST AND FINEST OFFERING IN Marictta -Park LOW PRICE OF ¥7,950 5614 First St. N.W. Built on low price market and selling now against a greatly in- creased cost market. A group of all-brick Colonials with extra favatory and toilet in bed room; big, steel framed, screened rear porches; club room, fine kitchen with electric_refrigeration; built- in garage. Must be seen to be fully appreciated. Make an in- spection before a decision else- where and be convinced of the value. Open Daily 10 A.M. to 9 P.M. BOSS & PHELPS From 14th St. or Georgia Ave. drive east on Longfellow St. to Ist and turn left. Great U. S. Leaders All Have Favored Home Ownership George Washington, Abraham Lincoln, Theodore Roosevelt, among others were strong advo- cates of home ownership. ‘Washington said: “Strongly I am impressed with the beneficial effects which our country would receive if every good citizen of the United States owned his own home.” Lincoln once said: “A home is the friend of labor, a home is de- sirable, is a positive good in the world. Let him who is homeless not pull down the house of an- other, but let him work diligently and build one for himself.” Roosevelt said: “Every person who invests in a well selected home in a growing section of a prosperous community adopts the way to independence.” E RENOVIZE EXHIBIT WILL OPEN MONDAY Remodeled House to Be Shown to Public During K Street Exposition. Washington is expected to become “renovize-minded” during the next two weeks, as the Renovize Washington Campaign comes to a peak with the opening Monday night of the Reno- | vize Washington Exposition at 1435-37 K street, and the display for the first time of the remodeled house at Four- teenth street and Pennsylvania avenue. The Washington Board of Trade, sponsors of the modernization move- ment in the Capital, have invited all trade and civic organizations, as well as the public generally, to visit both exhibitions. Will Give Information. Many of these groups are planning to see both the exposition and' the dis- play house as a body. The Washington Chapter of the American Institute of Architects has announced the forma- tion of a special committee on public information, members of which will be on duty at the show every day, pre- pared to answer queries regarding home improvement and modernization work. Nearly two score Washington firms, including building supply houses, elec- tric light, gas and telephone companies, and others, are participating in the modernizing exhibition, which has been arranged by the Renovize Campaign | Committee to demonstrate the many usessof modern materials in renovat- ing work. House Is Delayed. Although work on the little house on Pennsylvania avenue has been delayed considerably due to difficulty in obtain- ing volunteer labor, this dwelling will g0 on display Monday night along with the exposition. The work will be fin- ished shortly thereafter, Arthur B. Heaton, general chairman/of the move- ment, said. The Architects’ Committee, as an- nounced by Francis P. Sullivan, presi- dent of the local chepter, is composed of Robert F. Beresford, B. C. Flournoy, Irwin S. Poster, W. H. I. Fleming, Gil- bert Rodier, Thomas R. Edwards, Delos H. Smith, A. Hamilton Wilson, William Douden, Horace Peaslee, Caroll Meigs, Donald Johnson, Edwin P. Schreier, M. A. Patterson, Miss Gertrude Sawyer, | Samuel M. Smith, Percy C. Adams, Frank Upman, Maurice May, Joe Lap- ish, K. W. Hartig and W. L. Deming. $32,581,812,246 EXPENDED FOR BUILDING IN 12 YEARS The Bureau of Labor Statistics has Treceived reports of building operations from 257 cities in the United States having a population of 25,000 or over during the 12-year period 1921 to 1932. The list shows that in these cities there was an aggregate expenditure of $32,581.812,246 for building operations of all kinds. Of this amount, 54.2 per gesn: was !orcnxew residential building, .7 per cent for new non-residential buildings and 10.1 per cent for addi- tions, alterations and repairs. During the first eight years of the period more money was spent for resi- dential buildings than for both non. residential buildings and additions, al terations and repairs combined. Foxall Corner Home @ Overlooking Government Park with exposure . . . new, with spacious lawns, eight rooms, two baths, double screened porches, maid’s room, built-in garage and most modern appointments . . . un= usual value. @ Drive out Reservoir Road to 44th Street, turn left four short blocks to 1500 44th Street and see why shrewd and far- people are buying their h- oxall— NO' O . r Jp.m. WAVERLY.1 1522 K STREE: In Shepherd Park 1425 Juniper St. NNW. An English type brick home of real distinction, at a price far below other similar properties in this exclusive section. Exceptionally large living room with paneling over fireplace; 2 colored tile baths; today’s kitch- en, with refrigeration; pantry; breakfast nook; 3 bed rooms with immense closets; cedar store room in attic. 2-car garage. Lot 50x127 dotted with young trees. $13,750 OPEN TODAY Wm. H. Saunders Co., Inc. 1519 K St. NW. DIst. 1015 PUT YOUR MONEY IN REAL “ESTATE NOW WASHINGTON, D. C., Model Home Wins Admiration of Hundreds Quaint Architecture Features Greenwich Forest Place. GIVEN APPROVAL . BY STAR'S EXPERTS Utility, Comfort and Beauty | Dominate Exhibit Resi- dence Attractions. EVEALING a decided interest | among home-minded Washing- | tonians for better class dwell- ings, the Silver Star Model Home at Wilson and Hampden lanes, Greenwich Forest, has been seen by hundreds of enthusiastic visitors during the last week. Going on display at a time when real estate is definitely on the upgrade, this attractive English residence in the natural woodland setting of the country club section of nearby Maryland, has enjoyed an encouraging reception, and the charming lines of its quaint archi- | tecture have been the subject of much | favorable comment. | Built by the Cafritz Construction Co., from plans drawn by Alvin L. Aubinoe, the house went on display a week ago, under sponsorship of The Evening Star. It was approved for a place in the select Silver Star Model Home program | by The Star's committee of experts in all flelds of building and planning, of | which James S. Taylor, chief of the | division of housing, Department of Commerce, is chairman. | Utility, Comfort, Beauty. | Utility of plan has been given equal | consideration with comfort and beauty in the planning of this home. The ar- | rangement of the rooms lends itself well to the average requirements of| the modern American family, and the | house itself is priced to fit in with the limitations of the middle-class pocket- book. | The approval of this home by the committee of specialists is evidence that it has met the high standards of home designing, planning and construc- tion set by the committee as minimum requirements. The English characteristics which feature the exterior appearance of the model residence are carried to the interior, where care and taste in finish | are at once apparent. The furnish- | ings, too, provided by Dulin & Martin, | carry out the English theme, the liv-| room being furnished with eight- eenth century English mahogany, and other rooms following this style ‘The entrance hall, approached through a typical English doorway set in & quar- ried stone tower, is flanked on the one side by the spacious living room and on the other by the bright dining room. The living room is reached by de- | ‘Top photo shows a close-up view of the inviting entranceway of the Silver Star model home at Wilson and Hampden lanes, Greenwich Forest. In the lower picture is shown a view of the charming living room. —Siti LOAN CHIEFS TO TALK Building Material Rise Reaches 75.9, | 3 Federal Figures Show | | ‘The steady rise in the cost of building materials was reflected again this week in statistics com- piled by the Bureau of Labog | | Statistics, Department of Labor, which placed the index figure for | | the week ended July 1 at 759, as compared with 74.2 for the preceding week. The figure is based on the 1926 average of 100. One month ago the figure stood at 71.8 and the steady increase has been shown | in each weekly compilation by | the bureau. | The index number of wholesale | prices for the week ended July 1 stood at 66.3, as compared with 65.1 for the preceding week. | FARM FIVNCIG DROPS DURING 152 |Mortgage Total Hit Lowest| Point Since 1929, Bank | Reports Show. Volume of farm mortgage financing during the year ended January 1, | 1933, was the smallest of any year since 1929, according to reports of mortgage bankers to the Bureau of Agricultural Economics, United States Department of Agriculture. Reports from 16 Western and South- ern States, representing $13,000,000 in | loan contracts, showed 9 per cent new | loans and 91 per cent renewals of old loans. Twenty-five per cent of re- porting firms made no new advances |Four-Dwelling Project $123.89 WEEK'S BUILDING RECORD on Tunlaw Road Included Among Permits. Led by a permit issued to Waverly Taylor, Inc. for the construction of four dwellings on Tunlaw road, to cost $30,000, building operations authorized by the District building inspector dur- ing the last week reached a total of $123,893 in value. ‘The June total of building in the District, according to the repert issued during the week at the District Build- ing, was $583770, of which $417, was represented in new construction. Repair work amounted to $166,670, the highest total since July of last year. The total for the month does not, of course, include Federal building op- erations. which do not come under the jurisdiction of the District building inspector. Permits Issued in Week. Permits issued during the last week inciuded the following: Waverly T ne.. 1522 K_street northwest, owners and builders; Waver- ly Taylor, architect; to erect dwellings, 2121 R unlaw road; to cost Charles M. Wallingsford, Denrike Building, owner and builder; George T. Santmyers, architect: to erect five 2-story dwellings, 1431 to 1439 Taylor slr;it; to cost 00 J. Connor. 1343 Kalmia street, owner and builder; D. S. Johnsol architect: to erect one story bric cinder block and frame dweiling, 1359 Kalmia street; to cost $10.000. L. E. Breuni < ns, Inc, In- (Continued Page.) during the year. The average size of loans was smaller | than in any previous year of record. New loans averaged 34 per cent of the value of the property and renewals averaged 57 per cent, the renewals of Association President and Manager Will Speak at Denver. Officials of the United States Build- ing and Loan League, including Ward B. Whitlock of Springfield, Il presi- | dent, and Morton Bodfish of Chicago, executive manager, will address the |tenth annual Southwestern Building and Loan conference in Denver, July (Continued on Second Page.) 1731 Park Rd. N.W. Near the beautiful Sacred Heart Church. This is truly a home of the better class. A corner, Colonial in design and thoroughly modern, this DETACHED BRICK Live here For $635 Monthly WHY pav rent when you can own_a lovely. new six-room two or three baths, Spacious, Substantial 3337 Tennyson St. (Chevy Chase, D. C.) house w ball room. maid's_room and garage for only $65 per month? Why give sour money to a land- lord when vou ean reap the bene- fits for_vourself> At least vou scending two steps through an arched | room there is an entrance to the cov- doorway. At one end of the room is an | ered flagstone walk leading to the ga- | open fireplace, attractively finished in | rage, and adjoining it is a black and stone. covered and finished in hand-hewn | timber, is reached from the living room | through French doors, | The dining room is located in the | forward part of the house, lookmi onto | the street. The modern electric kitch- | en is reached through it. and in this| in equipment and modern kitchen ap- | pliances. The black and white finish of the kitchen forms an attractive | background for this room. A service | exit, with covered stoop, leads to the | side yard. Servants’ quarters, over the | garage, are reached from the kitchen | by way of a stairway from an adjoin- | ing hall. 1 Auxiliary Guest Room. A library, or auxiliary downstairs guest room, is located toward the rear of the house from the kitchen. In this Open Sunday Brick house, 20 feet wide, con- taining 6 large rooms, glass- enclosed sleeping porch, attic and 2-car garage. This house has been renovated throughout and is like new. If you are interested in & home that you can buy at & price that will surprise you come out Sunday and look what we have to offer you. LEBrominge’s Som Investment Bldg. NAt1 2040 [STONE-BUILT ARE BETTER BUILT HOMES UY a Home with a Reputation of Hav- ing Been Well Built. Your Re-sale Will Be More Profitable. INSPECT 6146 30th St. N.W. Paul T. Stone, Inc. 918 15th St. N.W. Na. 0843—Evenings—Cl. 7096 BUILDING COSTS ARE RIS- ING. FEW HOMES ARE OF- FERED NOW, BUILT ON THE PAST LOW COST MARKET. TAKE ADVANTAGE OF OP- PORTUNITY AND SEE 7002 ARLINGTON RD. IN LOVELY EDGEMOOR, MD. $10,950 Detached Colonial Lot 60 ft. front 4 BED ROOMS INCLUDING 3d FLOOR 2 Complete Baths 2-Car Garage OPEN_ALL DAY SUNDAY DAILY, 2 TO 9 BOSS & PHELPS Realtors rom intersection of Wisconsin fo5, Sns Oid, Georgeigun Rd. at An inviting flagstone terrace, |yellow tile bath with built-in fixtures |and a modern shower with glass door. | The second floor, reached via a broad staircase and wide landing, includes the master bed room with private bath, and two other bed rooms with bath. On this floor, also, utility of plan be- | comes evident in the ample closet and | the visitor will find the latest in built- | storage space provided. The main bath room on the second floor, approached from the hall. is fin- | ished in two-tone green tile, with built (Continued on Second Page.) 5914 16th St. N.W. Open Sunday To be sold at a sacrifice price on liberal terms. Never before, and probably never again, will a 16th St. home be offered at a price you are required to pay for a much smaller house in a far less valuable location. Completely remodeled and modern- ized. 5 bed rooms, 2 baths, break- hs; wm, 22 fireplaces, maid’s room an th, 2-car garage; large, deep, shaded lot. See this house Sunday. Compare its value with any other house in ‘Washington. L Breuminge’s Soms Investment Bldg. National 2040 A STANDOUT ON TODAY’S MARKET $6,950-° . 1362 Perry Place N.W. One of those popular 20- foot brick houses is now available at this low pri In new-house condition; large rooms and bath; parquet floors; instantaneous hot water heater and many other features. Open Saturday and Sunday All D, H.G.Smithy Co. 1418 Eye St. NW. NA. 5903 A SACRIFICE 3512 Albemarle *13,950 ‘We are placing this house, in perfect condition, on the market thousands of dollars below the selling price. If you wish tg see today’s best buy inspect this home now. Drive out Con: Open Saturday and Sunday SECURITY FINANCE CORPORATION 1506 K St. N.W. NAtional 1438 thesda Bank through Edgemoor Lane 1 dlock and turn right, —is in new-house condition. Entire first floor paneled and painted; first floor lavatory; 3 baths, including maid’s bath; covered front porch 30 ft. wide and a big, bright attic are some of its many attractive features, YOUR OFFER —is solicited as this property is going to be sold. Open today and Sunday till 9 pm. For ad- ditional information or auto service, call should SEE Park Terrace Homes and JUDGE for yourself. Inspect the beautifully furnished model home tonight. See how easily new home can be yours. Come fo 20th and Park Road. overlooking the park. MODEL HOME OPEN 'TIL 9 P.M. Attractively priced NOWHERE ELSE in Chevy Chase can be found a new house that will compare in size, con- struction and finish. 37 1t. wide b: 4410 14th St. N.W. A 23';-ft. COLONIAL BRICK, 4 BED ROOMS . . . IN ABSO- LUTELY PERFECT CONDI- TION . . . PRICED LOW AT— two baths on second floor finished rooms and cedar stofage $9,750 closet on third floor. Club room There are 2 enclosed sleeping 21 ff. square. orches and & huge enclosed GAS HEAT. elec. refrig.. reakfast room off the spacious Lot' 60X180 ft., dining room and big. modern rge shade trees. kitchen. Considerable money has unday and every lavatory. Three master bedrooms and two 2-car with WM. L. MOORE DI. 8917 GE. 2802 out. It is in a future commer- cial area which assures increased value. _You must see it. - Vacant and ready to occupy. Easy Terms. OPEN ALL DAY SUNDAY DAILY 6 TO 9 BOSS & PHELPS Drive out to Chery turn right on West- To rea Chase Circle, squares to ern Ave, about 6 Tennyson' St. Realty Associates, Inc. Realtors 1506 K St. N. NAtional 1438 Detacheti_i'lome Barg;\in—SG,QSO | Adandy home and an unequaled bargain for the shrewd purchaser. Unusual circumstances make possible this remarkable offering at the price. But price is not all. The house has an attractive loca-, tion and is entirely detached on a wide and deep lot. It has the charm of a pleasing Colonial exterior. The ex- quisitely decorated living room opens to a big covered side porch. Back of the pretty dining room is a large glass-enclosed sun room. The three bedrooms and bath on the second floor are bright and lovely. Also there is a nice screened sleeping porch. With a full cellar, automatic gas heat, Electrolux refrigerator and two-car garage it is a wonderful buy at $6,950. Don't fail to see it Saturday or Sunday. No. 3001 Otis St. N.E., Wood- 2 i ridge D. C., just one square North of R. L. Ave,, at 4 " ¥ 30th St. 3826 CALVERT ST. N.W. Open 9 a.m. to 9 p.m. Only $9,350 Out Mass. Ave. N.W. to Wisconsin Ave., Leff 3 biocks to Calvert st. and’right one block to homes; or ut Wisconsin Ave. to Calvert and one square West. Phillips & Canby, Inc. Investment Bldg. TOWER BLDG. NA. 2030 Dlstrict 9486 Washington Bldg. REALTORS Offer “Twin Gables Cottage” Wood;id{ Park, Silver Spring, Md. $10,450 Financed with a 15-year n Life Insarance An all-brick home of Cape Cod design in a charming sylvan setting, framed against a background of towering trees on a cor- ner lot, containing over 20,000 sq. ft. of ground. .Modern, beautifully decorated, every convenience for today's living com- fort. You will not find the equal of this property at this price. Open Until 9 P.M. Drive out Georgia_Ave. to Grace Church at Woodside Park, turn right to Dale Drive and home. 57,250—7,950 4403 Garrison St. N.W. This home was built at the abso- Environment with a Just Value. lute lowest market cos d offered for this very fair value. An oppor- tunity may never be available to purchase a new detached brick home at this price again. Six comfortable rooms, large living room, open fireplace, large closets, pantry; lot 157 feet deep. Garage. Drive out Connecticut Avenue to Harrison Street. Turn west to 44th Street, which is one block west of Wisconsin Avenue, and left to houses. Capital Housing Corp. Open Daily Clev. 9661