Evening Star Newspaper, July 8, 1933, Page 16

- B2 AURATEREALTY DATA MESOLGHT Management Institute to Fos- ter Efficiency in Methods Throughout U. S. CHICAGO, July 8—Executive de-! tails will be completed this week for: the new Institute of Real Estate Management of the National Associa-| tion of Real Estate Boards, brought into | being at the association's annual con- | vention, just closed in Chicago | The new institute, authorized by the board of directors at the request of the property manggement division of the association. affer more than a year of | discussion, is formed to establish a more accurate knowledge of the factors| which affect the income-producing power of improved real estate and to; foster efficiency in management methods. It plans to the operation of va types properties on such a basis that costs | and returns may be compared between | like properties in various cities or in | the same city. To this end it intends | to set up for its members units which | they will be asked to employ in record- ing of their own experience with specific properties. This will make pos: factual study on a national scale. Management E The new body v house of managem erience. It | Jooks toward the es‘ablishment of a | code of ethics and standards of practice | for real estate management. Findings | of the new institute, which will take the place of the associations property | management _division, will be open to | the use of all real estate boards in the association’s membership and to all| realtors. The institute in its by- certain clear and effective st practice in real estate mana which all applicants for membership | must subscribe. It requires a cetailed | initial inspection of the methods of | business employed by the managerg and management agencies app for membership, with particular relation to the safeguarding of the client's terest, and sutsequent periodical numts“ and inspections to insure that the managers or management agencies are | living up to membership requirements. | Formation of such an_institute at the present time is especially important | in view of the fact that tremendous changes in real estate. ownership have | been taking place. New owners are in | many cases absentee owners. Financial | and other institutions have come into | the possession of large blocks of real! estate in cities over the country. for the | management of which they have no| adequate present equipment | Werk to Be Accomplished. | The new crganization is_constituted | to accomplish in its own field a work | similar to that which is now being ! done in the field of real estate appraisal | by the American Institute of Real| Estate Appraisal of the National As-| sociaticn of Real Estate Boards. estab- | lished one year ago at the C.nf:nnall! convention of the association. Mem- bership in the latter institute is limited clearing | REAL ESTATE. Early Federal Architecture Marks Home Offered By A. 1. A. DWELLING PRESENTED BY ARCHITECTS IS SIMPLE IN STYLE, COMMODIOUS IN PROPORTIONS T GARAGE e N 4 ;"/' £ WX e R N » )’} MODEL HOME WINS ADMIRATION OF MANY IN GREENWICH FOREST ___(Continued From First Page.) in tub and modern fixtures. Pond lilies feature the wall-paper design. The master bed room occupies the entire eastern wing of the upper floor, and measures 18 by 15 feet in size. The private bath is finished in blue tile, with hollyhock wall-paper pattern. Four windows on two exposures pro- vide ventilation. Two other bed rooms, one furnished in Colonial design, and’ the other fol- lowing a modernistic style done in maple, and a spacious cedar-lined cleset complete the second-floor plan. A large recreation room is provided in the bacement, which is approached v way of a staircase from the dow stairs hall. The room is finished with knott pine, with flagstone open fire- place and red cement floor. A green- tiled bath room serves this room. Working Space Provided. The basement plan includes provi- < to persons who have passed a very | sion for working space, with facilities X n s to their pro- | for laundering, and heating equipment. 3t nder- | A special drainage system insures dry- Standing of appraisal principles and | ness in the cellar. methods. | Automobile accommodations are pro- Officcrs of the association’s new vided in an attached wing on the west Inctitute of Real Estate Management.|side of the house, beyond the Kitchen Who take office at one, are Kenneth:unit The driveway swings onto Hamp- | Cotton Brown, Chicago, IIl. president. | den lane. and L. V. Du Bois, Cincinnati, Ohio, | The plot of land on which the house Vice president | is located is heavily wooded, and con- | The governing council is composed | tains a total of more than 1.700 square | of Delbert S. Wenzlick, St. Louis, Mo.: | feet of ground. The front line of the Henry N. Lorish. Chicago. IIl; J. B.|lot extends 240 feet on Hampden and | Gillespie, Nashville, Tenn.: Kenneth | wilson lanes | Cotton Brown, Chicago, IlL: L. V.| Purnished throughout for the display Du Bois, Cincinnati. Ohio; Howard E. Haynie, Chicago, Ill.: W. C. Fiedler, Newark, N. Kenneth S. Keyes, Miami. Fla, and A. S. Kirk, Des Moines, Iowa. Seek Land for Gardens. Co-cperatirg with the Citizens’ Re- lief Committee of Newark, N. J.,, a num- | ber of realty men are seeking to find | 7,000 parcels of land in Newark that can bs turned to use as gardens fo the unemployed. The gardens are in- | tended to supplement the cash distribu- tlons of the relief organizations, per- | mittings the unemployed to raise their | own vegetables. ! See the MODEL HOME Furnished by NACHMAN 124 Longfellow St. NNW, Open 10 A.M. to 10 P.M. Only $7,650 WITH ALL THESE FEATURES Solid Brick Big Rooms Colored Tile Bath Big Recreation Room Wonder Kitchen Latest Heating Plant Built-in Garage Near Parks, Stores, Schools, Transportation. ~ DRIVE OUT TODAY OR SUNDAY | heme™ owners to visit it period_by Dulin & Martin, the dwell- | ing will be open dailv. from 10 am. to 10 p.m., through July 24. The Star | extends a_cordial invitation to all in- | terested home owners and potential | | It is approached by way of Wiscon- in avenue, north to the old George- town road, thence west on this street to Wilson lane, turning left at this | point to the house. Signs indicating | the route are displayed along this road. You Are Invited To Inspect Our New Semi-Detached Brick Homes In Michigan Manor and 8 rooms and 2 baths. Built right. Priced right. By C. H. Small, builder, TERMS TO SUIT Only 3 Left Better Come Out Now 6. 7 Sample House 4426 14th St. N.E. Drire out Michivan Ave. to 14th St., turn left, you will sec our sign THE EVENING STAR, WASHINGTON, D. C, ENTURING into the realm of | higher priced homes, the Wash- ington Chapter, American In- | stitute of Architects, presents a | commodious dwelling of carly Federal architecture as the eighteenth in a serics of home designs prepared by it for publication in The Star. Charactcrized by a simplicity of ex- terior treatment, which recalls a type cecasionally found in the older suburbs of English citics, this dwelling idea was prepared by B. C. Flournoy, architect. and is designed for a family of from four to six. besides servants. Lot 110 Feet or Over. A lot not less than 110 feet in width is required. With the garage placed further back, this width could be re- duced to 100 feet, but this is not recom- mended by the architect. The house should face north or west to give the | most desirable exposure to the principal | rooms. The house is planned for comfortable living, and the lay-out of the first floor provides adequate circulation for enter- taining. An attractive feature is the retired location of the study. down two | steps at the end of the hall. The bed | room above, entered from the stair landing and with its own private bath, is ideally situated for a guest room. As the main block of the house on the garden side is approximately two and one-half feet higher than the wings, the principal bed rooms will be full height without sloping ceilings or 2-Family PETWORTH HOME 9 Rooms—$8,950 Beautiful nine-room tapestry brick home on a large lot. two squares front Sherman Circle. convenient to schools, stores. churches and trans- portation. Ideally arranged for two families—owner can live on one floor and rent the other, reducing his monthly payments to less than half A real bargain, with terms arranged to suit. 417 Decatur St. NNW. Open Until 10 P.M. *CAFRITZ" SECOND dormers. A well ventilated attic, reached by a stair from thé second story hall, will provide adequate storage space and could be used for extra sleeping space. The cxterior wall construction would be of cinder concrete blocks stuccoed and stock windows, doors and trim would be used. The basement extends only under portion of the house occu- pied by the dining room. kitchen, coat closet, etc.. the remaining excavation to be to a depth of about two and one- half feet under the floor joists. The total cubage, inclusive of one-half cube for porches, is 42,600 cubic feet. The house could be built, it is estimated, for between $15,000 and $20,000. Brick facing instead of stucco would increase the cost slightly. The design is adaptable to a much larger and more expensive house without any essential change in plan. Homes to Cost $28,000. Application for a permit to build six two-story houses at 4737 to 4747 P street was made at the District Building this week by Cooper C. Light- Risr 4521 Walsh St. Come to See This Chevy Chase Bungalow—Leland $6,950 $500 Cash—$55 Monthly : hot water heat 11 blocks to property. Morgan E. Morgan 1108 16th St. N.W. NAt. 9153 A New Detached Home In Chevy Chase . . . 6343 31st St. N.W. Open Today—Drive Out! Only 38,950 Think of it! A home of real quality situated on a beautiful wood- ed lot 50x150, in one of the most select squares in Chevy hase ...6 charming rooms, colored tile bath, open fire- place, model kitchen, latest built-in features, beautiful garden delightful out- look. Garage. Beautifully Furnished by HUTCHISONS SATURDAY, JULY 8, 1933. FARM MORTGAGE FINANCING AT LOWEST (Continued From Pirst Page.) two-thirds of the firms ranging from 60 to 80 per cent of farm value. About 61 per cent of the new loans made were taken by life insurance companies, 15 per cent by savings banks, 11 per cent by private investors, while 13 per cent was retained by the lmartxlge bankers who handled the joans. Ninety per cent of all loans made or renewed during the year carried pro- vision for reducing the principal during the life of the loan, only 10 per cent being made for straight terms. Eighty- six per cent of the loans were made for terms of five years. Interest rates to owners of funds were 5.5 per cent at the close of the year, while rates to borrowers on first mortgage loans averaged 6.3 per cent. Substantial amounts of loans held by reporting concerns in all States were delinquent in payment, averaging 55 per cent for the Dakotas and 36 per cent for all States reporting. PUSH ELEVATOR CLAIM French Credit Own Invention, but Englishman Is Honored. In the “flying chair” France claims which America has capitalized as no other country. Englard says that hori- zontal passenger travel had its begin- ning in that country and John Knox was the first inventor. The “flying chair,” according to a writer in the Worcester Telegram, was devised in 1680 by M. de Villayer and composed a chair suspended between two walls of a building and carried a seated per- son from one floor to another. But it is a century since John Knox gave us the hydraulic passenger eleva- He was an Englishman and on FLoowr * bown, builder and designer. The homes | {his basis England's claim to the birth will cost $28,000 to build, according | place of the passenger elevator may ode to the application. recognized and accepted. it ) 3 East Thornapple Stree Chevy Chase, Md. Cost Owner $20.000 $ 1 32 50 BARGAIN AT ... 3 bed rooms, 2 master baths, servant’s room, sun room, large cement porch, garage, new-house condition, lot 60x135. Open Saturday Afternoon and Sunday Brand New Fully Detached Brick Seven Rooms—Two Baths 621 NICHOLSON ST. N.W. OPEN TO INSPECT A visit to_this beautiful home in Marietta Park will convince you that here is a REAL VALUE . . . one that will never be duplicated. The last word in modern construction—all brick, seven large, airy rooms, two perfect baths, hardwood trim throughout, real open fireplace, pantry, Frigidaire, table-top range, Oxford Cabinets;. wide concrete porch, screened, weather-stripped, and on a big lot with pretty shrubbery and a garage. The high elevation assures plenty fresh air and an unobstructed view of o!d Fort Slocum. Transportation, schools, stores and churches are all handy. Remember. the value will never be duplicated . . . so drive out and take advantage of this great saving. Come to the corner of th and Nicholson Sts., three squares above Kennedy. See our open sign on property. RM HOOKER Realtor Tower Bldg. Metrop. 2663 3619 Chesapeake St. N. W, COLONIAL BRICK RESIDENCE IN ° 3 CHEVY CHASE, D. C. This attractive residence has center-hall plan, large living room with fireplace, dining room and kitchen; three bed rooms and two. baths, with large finished attic above. Two-car brick garage. Open Saturday and Sunday P.M. Until 10 o’clock POINT SINCE 1929/ the origin of the passenger elevator, | REAL ESTATE. NAME IS “PARK INN” iRestaurant Had Been Wrongly Re- ferred to as “Park Lane.” Through error, the name of s res- taurant leased recently by George Vit- sas at 1017 Fifteenth street was stated in The Star to be the Park Lane Res- taurant. The correct name of the es- t is the Park Inn Res- taurant. The Park Lane Restaurant is located in the Park Lane Apartment ‘Twenty-first street and Pennsyl avenue, and has not changed hands. —_— e Has 41 Realty Firms. ‘There n’;e 41 lr«l e‘us g em'eerm‘ ting in Charleston, §. C. 25,000 population e Can You Equal This? 1707 Upshur St. NW. § (Viest of 16th Bt.) Semi-detached brick; . eight rooms, bath, h-w.h," elec., garage, lot 200 ft. deep; fruit This house sold mew for $14,750 Open Saturday and Sunday H. H. Carter 306 Investment Bldg. 14th & Geranium Sts. N.W. (Shepherd Park Section) Cor. A beautiful center hall, brick house. Situated on a large lot 125x65 ft. 11 large rooms, 3 baths, lavatory on first floor. Oil burner, electric refrigeration, recreation room, 2-car garage. OPEN SUNDAY H. E. BROCKSON—Real Estate WIS. 4832 $10,000 HOMES BUILT TO ORDER AT A REAL SAVING Rising Costs Add Greater Value to Today’s Investment Rising prices of building materials make delay in home construction costly. BUILD NOW AND SAVE . . . Every dollar in- vested in 2 home today means increased profit and substantial savings. BUILD NOW AND SAVE. . . . Westmoreland Hills offers the exclusiveness of a re- stricted community with planned develop- ment, architectural harmony and social control to meet the needs of those desirous of enjoying a custom-built home in a se- ting of unequaled natural beauty. BUILD NOW AND SAVE . . . Our representa- tives will be pleased to acquaint you with our plan of operation, an innovation in ir* application to homes as low as $10,000. DIRECTIONS—Drive out Massa- chusctts Avenue to Westmoreland Circle, at the District Line. The of- fice and entrance are on the Circle. hborough OEVELOPMENT CORPORATION 1518 K Street. . NAtional 6370 DIRECTIONS: Drive out Conn. Ave., right on Nebraska Ave., left on 32nd St. right on Utah Ave., left on 31st St. to house. Out Kansas_ Ave. to Lonofellow St. N.W., and Right 12 Block to Home. Built by J. Chas. Shapiro 1Y, squares west of Connecticut Avenue PRICE $14’500 Thos J ISHER:¢ INCORPORATED TOWER BLDG. NA. 2030 Modern Homes Extremely Low Prices (Chevy Chase, D. C.) 3505 Legation St. N.W. (1'% blocks east of Conn. Ave.) Fully detached all brick home with tile roof—6 rooms, 2 baths, breakfast room, oil burner, elec- tric refrigeration, screens—abso- lutely in_ perfect condition, on very large lot fenced in the rear. $11,250—Easy Terms 3005 McKinley St. N.W. (Corner Nebraska Ave.) Unusually attractive stone, ‘brick and clapboard house, con- taining 7 rooms, 2 baths (in- cluding sun porch), shaded rear Jot. Priced considerably below its original cost. 3315 Quesada St. N.W. A composition of early Ameri- can reproduction, tastefully fin- ished in Early American style— 6 rooms, 2 baths, double rear Pporches, fireplace in master bed room—a home any one would be proud to own. Responsible party may acquire at builder’s cost. 5359 29th St. N.W. (Just_south of Military Road) rming English type resi- Spring Valley “The Garden of Beautiful Homes” 738 15th Street N.W. DIstrict 6830 Here, among a heavily wooded setting wind broad paved boulevards lined with spacious residences offering the sense of secyrity and pride that alone can come from home owner- ship in & protected home community where restrictions and planning have been a fore- thought of the developers. “A NEW HOUSE FOR AN OLD” ON DISPLAY AT THE HOME-RENOVIZING EXHIBITION Monday—July 10th TO July 22nd ATTRACTIVE HOME COMMERCIAL ZONE @ 205 Rock Creek Church Road Fronting on Upshur street as well, this property offers an exceptional opportunity for a home with separate store on Upshur street. Tapestry brick, 20 ft. wide, 8 rooms, 4 bed rooms, garage. Modern in every particular. In new-house con- dition, having all new electric and plumbing fixtures, gas range, etc. By ‘paying cash equity above the present first trust of $5000 (514%) a pay- ment of $31.00 monthly will FACE BRICK EXHIBITORS S s Tok. s rootun, 3 HYDRAULIC PRESS BRICK CO. carry this property; including baths, breakfast room, steel case- J 4 T T e O. W. KETCHAM CLAY PRODUCTS NS BRI e UNITED CLAY PRODUCTS INVESTMENT CORP. usual home featuring MODERN 1004 Vermont Ave. It s not adifficult to visualize these things, but it is easier to see them as they actually are. Drive out today. Exhibit of Modern Designing & Construction 49th and Quebec Streets $7,500 Far Under Original Cost GENERAL ELECTRIC KITCHEN Fully equipped with the most mod- ern electrical appliances through the co-operation of— The NATIONAL ELECTRICAL SUPPLY CO. and The POTOMAC !LI!CTI‘IC POWER CO. Open Daily. We will take you to property if you desire. W. C. & A. N. Miller Developers 1119 17th St. N. W. ELECTRIC KITCHEN. $10,950 J. Wesley Buchanan, Inc. REALTORS 6 15th St. N.W. ME. 1143 NA. 5833 Dlstrict 4464