Evening Star Newspaper, December 15, 1934, Page 16

REAL ESTATE, LOAN INSURANGE ORDERS SENT 0UT Interior Views of Remodeled Alexandria Home | — ' : F. H. A. Says Instructions Are Dispatched to All Directors. Instructions governing the insur- ance of mortgages on residential prop- erty constructed by operative builders are being sent to all regional, State | and district directors, it was an- nounced today by the Federal Hous- ing Administration. Builders Wwho | wish to obtain detailed information on the subject should inquire at office of administration. The administration recognizes the | operative builder as the largest pro- | ducer of residential properties and his contribution as an influential element in the creation of housing for rent, rental-purchase agreement or outright sale. proper effort will be made to aid | and encourage activity on the part | of the builder who is prepared to proceed along sound lines. Encourages Operative Builder. In particular, the administration sezks to encourage that type of oper- etive builder who looks upon the pro- duction of homes as a manufacturing and merchandising process of high social significance and who, prefer- ably, assumes responsibility for the product from the plotting of the land to the disposal of the completed dwelling units, based upon policies | which will assure the stable develop- ment of the community over a period of years. The operative builder, it is made clear in the instructions, is eligible to apply for the benefits of mutual mortgage insurance upon the same general basis as the individual home builder, and the factors which the administration will consider in passing upon his application are in substance the same. In other words, he may qualify as an approved mortgagor in much the same manner as would be required of an individual home owner. Because of the larger scale of opera- tion involved, however, greater em- phasis is necessarily placed on cer- tain features of the transaction, par- ticularly with respect to the economic soundness of the entire project. As in the case of the individual builder, each dwelling of from one to four family units must be financed | by a separate mortgage. Each dwelling must b2 located on a separate plot of | land, and must be capable of being separately owned. Financing Operations. 'To finance his operations under the provisions of the Federal Housing Administration program the operative builder should secure his financing from a lending institution approved by the administrator as a mortgagee which will submit the application to the administration to secure a com- mitment for the insurance of the mortgages on the various properties. With such a commitment in existence, he should be able without difficulty to obtain construction loans from a com- mercial bank, since notes securing loans made under' such canditions are eligible for rediscount at the Fed- eral Reserve banks, a fact which puts them in a class with the most de- sirable paper a commercial bank can have. ¥ Commitments will bs obtainable, either where the operative builder has a definite buyer for a completed prop- erty, in which case the commitment will be made in the name of the buyer as mortgagor, or where the operative builder contemplates that, an unknown buyer will be the original | mortgagor, the commitment being made contingent upon approval of the purchaser’s application for a loan as mortgagor. Commitments in Other Cases. Commitments may also be ob- tained where the operative builder himself is to be the original mortgagor, particularly when he is building for rental or intends to sell on a rental- purchase agreement to a known or unknown buyer, if the administration is satisfied he is able, with his own capital, to finance any portion of the cost of the project not financed through the mortgage loan; that he | will be in a position to carry the mortgage responsibility; and that the project is economically sound and conforms to all other applicable rules and regulations of the administration. Operative builders may make ap- plication for the insurance of mort- | gages, through approved mortgagees, at any of the 61 insuring offices of the Federal Housing Administration. Where final plans for a project have not been completed, informal pro- ;‘)’es.u may be submitted for consulta- on. ARCHITECTS TO VIE FOR $1,000 PRIZE Le Brun Fellowship Is Given Official Announcement by Institute. A Nation-wide competition for the 1935 Le Brun traveling scholarship is announced by the New York Chapter of the American Institute of Archi- tects. The fellowship, founded by Pierre L. Le Brun, will be awarded to a “deserving and meritorious architect or architectural draughtsman, resi- dent anywhere in the United States, to aid him in paying the expenses of a European trip, lasting not less than six months.” The fellowship is valued at $1,000. Every competitor must be nominated by a member of the institute. Any architect or architectural draughts- man, a citizen and resident of the United States and between 23 and 30| | years of age, who, for at least three’ |} years, has been either engaged in active practice or employed as an architectural draughtsman and who| has not been the beneficiary of nny' other traveling scholarship, is eligible for the comnemlon Lights in Closet Urged. An electric light, installed in each Closet, makes it more convenient, as Well as safer, and is an aid to cleaning. A Corner Detached Brick Home in Massachusetts Avenue Park 3554 Edmunds St. N.W. A_well-constructed. well-ar- {l'nlflu?g‘l.le ‘fi rooms. porel sun m!:. m H quarters, storsce rooms, matic heat. large S-cat Srick Bt e v o Reasonably Priced Open Today and Sunday 10-6 P.M. Floyd E. Davis Company 333 12th st. N.W. Natl 0352 Consequently, every | ! | i THE EVENING STAR, WASHINGTON, D. C. SATURDAf, ‘DECEMBER 15, 1934 e B F. . A.SCRUTINIZE LOANS CAREFULLY Insurance of Mortgages Supplements Program of F. H. A. Supplementing the broad program of | being the Federal Housing Administration for stimulating the construction of new homes through insurance of home mortgages, is the provision of the Na- tional housing act permitting insur- | C8eY. ance up to $10,000,000 of mortgages on low-cost housing projects. The Federal Housing Administration intends to see that such loans meticulously meet all requirements of sound business practice. ‘These developments must measure up to the same standards and show the same economic soundness that is being required in insured loans on dwellings. Stability Basic Test. ‘The basic test for determining the insurability of & mortgage on a low- cost housing project will be the social, as well as the economic stability of the project. ‘The bulldings which pass the test will be both livable and dur- able. Moreover, they will be situated in communities where the social trends are wholesome. Splendid buildings in a moribund neighborhood will not do. Cheaper but substantial housing in & growing community will be given pref- erence. Preference also will be given to projects which are protected by ade- quate zoning and deed restrictions and those which offer opportunity for a rounded social life. Accessibility to markets, schools and hospitals will likewise be considered, % |as will the availability of public utili- ties. Also involved are present and probable taxes of the community, bonded indebtedness and the quality of management shown by local lead- REAL ESTATE. BALTIMORE INITIATES BETTER HOUSING DRIVE Property Owners Gather at Meet- ings to Hear Plans of Building Outlined. Special Dispatch to The Star. BALTIMORE, December 15.—The Baltimore Better Housing Campaign was officially opened this week by Mayor Jackson; who issued a procla- matior. the movement and calling for the -lu‘spofl of every prop- erty owner to in the movement conducted under the auspices ?L the Federal Housing Administra- n. Mass meetings of property owners are being held throughout the city under the direction of Prancis King , campaign chairman. vmu- the plan it is hoped to have home owners co-operate by contract- iu lmmdhtel! for long-delayed re- m ‘nu eunpd‘n gaining such sup- port, it is said, that there is & short- age of building mechanics in some communities and quick elimination of building workers from the relief rolls is a likely prospect. PAINT REPLACEMENT NEED IS EMPHASIZED Writer Finds Billion Dollars’ Worth Has Peeled 0ff—3,000,- 000 Roofs Also Needed. Close to a billion dollars’ worth of paint has peeled from the outside of buildings in the United States and has never been replaced, according to Harwood F. Merrill, writing in Forbes Magazine. Three million new roofs are needed if ‘the elements are to be effectively warded off. If the most urgent repairs were attended to now, it would open a ‘market for six billion feet of lumber; and if the new construction needed were undertaken at once, this would increase the market for lumber to 37 billion feet, according to the article. Inside the homes of the country § The rooms above are typical of the large number of historic resi- dences in Alexandria which have been reclaimed by remodeling and modernization in the last few years. Due to the shortage of residential space in the Capital the movement to the Virginia city has gained momentum in recent months. In this particular home all the charm of the Colonial in- terior design was retained in the renovation. The house has been completely furnished in antiques. Above is a view through arch to front drawing room, showing rare Hepplewhite swell-front chest, Chippendale and Sheraton chairs. In the other photo is shown one of the original pine paneled corner mantels in the back drawing room. o ADDITIONAL HOME SALES ANNOUNCED, Closing of Six Transactions in; Week Evidences Continued Realty Activity. The .closing of six additional sales | during the week was announced to- day by Shannon & Luchs Co, in evi- | dencé of continued activity in the | Washington real estate field. The sales are as follows: 5205 Colorado avenue northwest, a large detached residence, purchased by Mrs. Elinor E. Dunnigan. 2405 Eighteenth street, purchased from James J. Britt and Clarence M. | Justice to be remodeled as a store and | apartment. Corner of Fawcett and Howard streets, Kensington, Md., sold by Wil- liam H. and Mary J. Krouse for business property site. 3830 Beeches street, purchased by Mrs. Jennie and Miss Hazel M. Bayne | as their home. 831 Ingraham street, sold by Mrs. Mary O'Connell Byrne to a local in- vestor. 3513 S street, sold by Mrs. Bertha R. Klein to a local investor. Pigeons Carry Drugs. Carrier pigeons are being used for smuggling drugs into England. The conductivity of sounds and npises from one room to another in apartment buildings, office buildings, hotels, schools and similar structures has been found to be greatly influ- ienced by the construction of brick partitions. ‘One way of minimizing the sound conductivity is known as the sound- proof rolok partition. In this method the bricks are laid on edge, and a mortar, not too rich in moisture, is used as a bond. It has been found that if the mixture is too rich it may dry too rapidly and crack, and this | must be avoided. Old-fashioned lime plaster has been found to be very sat- isfactory, as it increases to some de- gree the sound resistance of the wall by absorbing metallic sounds which A‘mnl)l' be transmitted through a hard | wall, By placing the brick on edge, the natural thickness of the brick makes a very economical wall thickness and requires only 4!, bricks to the square foot of the partition. Boundproofing of buildings through Six Sold in homes have © 7 Rooms, 2 baths. © Layatory and basin on first Brick Partitions Utilized | To Make Rooms Soundproof | improving construction is among the kinds of modernization work being eru Housing Admmmuuon GARDEN CLUB MEETS Exhibit of Terraniums Is Held at Ballston, Va., Session. The December meeting of the Washington Garden Club was held I at the home of Mrs, Lawrence Doug- Ias of Baliston, Va., this week. Mem- bers of the club exhibited terraniums and first prize was awarled to Mrs. Douglas, second prize to Mrs. Charles Arth and third prize to Mrs. T. M. Chichester. The judges were Mrs. Thomas Ervin Coe of Washington and Mrs. Frank Ball of Ballston. Open-dish gardens were exhibited and first prize was awarde! to Mrs. McC. Baldwin and Mrs. Ernest Baldwin received honorable mention. The next meeting of the club will be held January 7 at the Y. W. C. A. Six Weeks Quality and Location Come and see why these sold so fast NOT JUST ANOTHER HOUSE FOR SALE BUT A HOME YOU WILL BE PROUD TO OWN. @ Unusual tiling in bath reoms. @ Furred walls, throughout, in- cluding recreation room. © Foyer entrance of glazed tile, | © GAS HEAT. ® Unusually large living room, 19x16.6. ©® Bookcases with fluted trim behee- llnlu room and See 2722 COrtllnd Pl.ee N.W. Purnished by W. OPEN DAILY B. Moses & Sons AND SUNDAY Drive out Conn. Ave. to Devonshire Place site K out Con e (opposite Kennedy Warren). Turn left % Block to Place and left to homes. BROWN BROS. Owners-Builders COlumbia 1755 done with loans insured by the Fed-| A Lovely Semi-Bungalow A Real Bargain at $8,750 there is need for millions of modern INDUSTRY ANXI0US FOR NEW ACTIVITY Big Spurt Caused by Title | of Housing Act May Be Enlarged. ‘The building industry, reassured by the success of the property repairing and rehabilitation that has already been launched under title I of the national housing act, is looking for- ward to the active operation of titles II and III of the N. H. A., which deal with the construction of new build- ings and the refinancing of mortgaged properties. Modernization and repair, officials estimate, are going ahead at the present time at a $100,000,000 clip, with one fourth of this amount being spent for paint protection. New busi- ness, Housing Administrator Moffett has estimated, is developing at the rate of between $2,000,000 and $3,000,- 000 a day and construction materials manufacturers, in some cases, have in- creased their business up to 500 per cent. Although the greatest headway is expected in the building of new struc- tures, the industry sees reconditionjng activity becoming even more wide- spread as the owners of properties now standing strive to hold their own against the competition brought on by the new construction. Owners of mortgaged bulldings are also undertaking the “sprucing up” of their properties before applying for refinancing under the long-term plan of the Federal Housing Administra- tion. Of paramount importance in this refunding process will be the ap- praisals set on the property. Proper- ty owners recognize that compara- tively modest sums spent for repairs and repainting now will enhance the worth of their properties many times in the eves of the F. H. A. appraisers. ership. & Attention to Quality. Special attention will be paid to the quality of construction. Buildings con- structed with a view to reducing de- preciation to & minimum and to keep the cost of maintenance at the lowest level will naturally be looked upon with favor. ter of comfort. In the insurance of loans land | prices will be thoroughly gone into. Excessive prices, the test being value for housing purposes, are banned, since to make a going concern of any hous- ing project built upon such land would ire the raising of rents beyond the' capacity of the ordinary family to pay. This would defeat one of the major aims of the Federal Housing Administration. As with the insured loans on dwell- ings, loans insured under this section of the national housing act will be segregated as to type and amount of risk involved, thus placing a premium on sound projects. SANTA CLAUS TO TALK ‘Washington Realtors Will Hear Him at Annual Yule Party. Santa Claus is slated to make the only formal talk when members of | the Washington Real Estate Board {hold their annual Christmas party in the Lafayette Hotel at 12:30 p.m. ‘Wednesday. The realtors will have & real Christmas tree. In addition to the luncheon, the program for the party calls for entertainment and music. | At board headquarters it was an- nounced that a large - number of reservations have been made already, and a large attendance is anticipated. Childs Being Modernized. Childs Restaurant at 1423 Pennsyl- {vania avenue is undergoing a mod- ernization operation which, when completed, wiil give the interior & inew Spanish atmosphere. Then-u.lemeruumb-' ranges, - bathtubs, showers, central heating plants, refrigerators, new lighting systems, and more adequate water-heating units. FIRST SHOWING 4815 LELAND STREET Price, $7,250 Many J'.pn;ele in Scheols. Fifty-five per cent of the children in schools of Honolulu are Japanese. @ BRICK CONSTRUCTION o FIVE ROOMS ® OPEN FIREPLACE @ ELECTRIC KITCHEN LOT 58x100 ® HOT-WATER HEAT ® GARAGE Direction: Out Wisconsin Ave. to Leland St., Left to Property BUILT BY ALFRED T. NEWBOLD Presented by CYRUS KEISER, JR. @ SLATE ROOF BASEMENT LARGE ATTIC NOTICE TO THOSE WHO DID NOT SEE “AVONCREST” LAST SUNDAY As you will -xree ‘when you've seen this cozy home at 2579 Rhode lsl-nd Ave. N.E. COmpleter reconditioned. Living room, dining room, kitchen, 2 bed rooms and bath on 1st floor. 2 bed rooms, dressing room and bath on 2nd floor. Front and side porches. Ofl heat. 2-car built-in garage. Open, Lighted and Heated “.G.S Illitlll_]Co. Till 9 P.M. Saturday and Sunday 811 15th St. NA. 5904 “Oh, Ann, Here’s a House We Must See Today!!” s in the paper that Douglass Construction Co. has builf out and see them they ecall their 5616 Second Place N W. “Ann, T bet you'd be interested in this: 3 master bedrooms and modern bath in tinted tile with that new ‘Neo-Ancle’ tub and shower; lovely living room; modern recreation room; bullt-in garage; idesl sas fur- nace; washable wall paper; completely weather- APPLIANCES ASHINGTON AS LIGHT co. ildis \ Dlstrict 3100 ’ Drive out Georsia (LAl Avenue, m}'t.ou Long- STRUCTURAL FEATURES... 1. Solid Brick Construction. 2. Concrete Floors. 3. “Stran Steel” Framing. 4. Complete Insulation. §. 9 Rooms and 3 Baths. 6. Furred Walls. 7. Cedar Closets. 8. Heated Two-Car Garage. 9. Modern Gas Equipment. 10. Automatic Hot Water Heat. 11. Recessed Radiation. 12, Copper Water Pipes. by the Washington Gas Light Company 3 WING to the crowds that came to see Avoncrest, New Exhibit Home, on the day of its opening, last Sunday, many did not have the opportunity to make a minute inspection. This Sunday special arrangements have been made to handle additional visitors and we can give you the assurance that you will be able to inspeet Avoncrest at your leisure. Plan now 1o see this NEW EXHIBIT HOME (FURNISHED) 4962 QUEBEC STREET SPRING VALLEY Drive out to delightful Spring Valley today. Enjoy the fresh beauty of its rolling hills and early Winter landscapes. Vision the possibility of home life here in this lovely suburban setting. A splendid example of Georgiem-Colonial architecture, Avoncrest is completely furnished in a manner inspiring to lovers of home decoration. Drive out Massachusetis Avenue, turn leit on Fordham Road to Quebec Street Furnished by Potthast Bros., Baltimore, Md. . . . Decorated by Wesley Heights Shops. . . . Accessories by Brown Tes Pot Shop . . . Rugs by Keshishian . . . Linen by Jean Matou. W.C. & A. N. MILLER 1119—17th Street Northwest District 4464 A g