Evening Star Newspaper, March 23, 1935, Page 17

Beauty in Architectural Design Features New Homes Purchased by WASHINGTON, D. C, 20 T, S Left: New home of Justice of Appeals, at 1701 Hoban road, Charles H. Robbd, District Court tn Colony Hill. The house was built and sold by Boss & Phelps. Center: Mr. and Mrs. Henry D. Ralph bought this house at 4561 Cathedral avenue, Wesley gring WITH SUNDAY MORNING > tar SATURDAY, MARCH 23, 1935. Heights, from the firm of W. C. and A. N. Miller, builders. Right: Located at 117 Aspen street, Meadowbrook, Chevy Chase, Md., this dwelling has been sold to Mr. and Mrs. Harold B. Stamm by Meadowbrook, Inc. It contains eight rooms and two baths. —Star Staff Photos. Building News Prominent Washingtonians 10 LEND EXPOSED BY F. . A'S PLAN Prospective Borrowers May‘ Get Approval by Federal Agency. BY JAMES Y. NEWTON. Believing that many banks through- out the country have not been doing their part in the effort to revive the construction industry through the medium of mortgage insurance, the Federal Housing Administration has devised & plan to uncover the bankers who have been turning down prospec- | tive borrowers eligible for mortgage insurance. | The plan is in the form of a| change in procedure under Title II, mortgage insurance phase of the housing act, which permits prospec- tive borrowers to apply directly to the administration through any of its insuring offices for appraisal of proj erty, approval of credit rnspnnslbi]nvi of the borrower, and determination | of the eligibility of the mortgage for insurance. Under the original plan, the prospective borrower applied directly | to the financial institution which had been approved as mortgagee by F. H A, and from whom he anticipated | obtaining the loan. The borrower may still do this, but if he knows his | property meets the requirements of F. H. A. for mortgage insurance he is almost sure of getting his loan placed by applying ¢o an adminis- tration office. In Washington this local administration office is located on the ground floor of Housing head- | quarters, Vermont avenue and K| street. ! “Big Stick” to Banks. } In the shape of a “big stick” to wave over the banks, the administra- | tion now has the announcements of | two of the largest insurance com- panies that they have several millions of dollars available to invest in the | insured mortgages. The F. H. A.| will use no partiality in placing the | loan applications it receives, but when | a financial institution shows a tend- ency not to co-operate, the adminis- | tration wil! seek to place the loans | elsewhere. | As one administration official ex- pressed his interpretation of the new ruling of Administrator James A. | Mofett: “We will either smoke them | out or find out that we are wrong | about this mortgage insurance idea.” | Though financial _institutions in ‘Washington probably have shown bet- | ter co-operation than those in many | sections, records show that of the 16 banks here that have been ap- proved as mortgagees by the adminis- | tration, only seven have submitted applications for insurance to the | administration. In some instances | this may mean that the banks have not been sought out by a prospective borrower, but it is known that some banks have received applications and have either turned down the applicants or put them off. A num- ber of the banks apparently are not interested in the insured mortgages, Homes and | locating a mortgagee. Capital Architects Burn Midnight Oil as Orders Flood Offices The unusually large quantity of building in Washington in the last few weeks, especially in the small home construction field, has flooded the offices of Capital architects and designers with work. Better housing activities have uncovered a large amount of modernization and alteration work, and in addition buildirg statistics show that more then 100 homes were listed for con- struction in the first three weeks of March One architect who said his office had been swamped with work was unable to obtain a draftsman to assist him. In most all the architects’ offices the “midnight oil" is being burned freely. and under the new rule the Housing Administration proposes to find out the institutions that come in this category. Method of Procedure. Under the new procedure the bor- rower, if his property passes the examination of the administration, will be given a preliminary commit- ment of insurance. He may then either take financial institution or accept the assistance of the administration in Final insur- ance commitment is issued after the mortgagee is located. Prospective borrowers _submitting their applications, the administration points out, will be required to pay the established appraisal fee of $3 per thousand dollars of the principal amount of the mortgage loan; but no additional appraisal will be made by the administration and no ad- ditional appraisal fee wil be collected by it when the definite commitment is finally issued. BUILDING PROFITS GAIN Group Handling Supplies Shows | Greatest Improvement. The National City Bank of New York, in a recent tabulation of in- dustrial corporation profits, shows that a group of 53 building material manufacturers having net profits of $699,000 in 1933, had a profit increase in 1934 to $14,936.000. of industries studied, including 840 corporations, the building material group showed by far the greatest per cen’, of improvement. RENT SALE 2700 36th St. NW. | MASS. AVE. PARK Detached, 9 rooms, 4 bed | rooms. 2 baths, gas heat, || garage. Nice lot. OPEN FOR INSPECTION ALL DAY SUNDAY | WM. M. THROCKMORTON | Realtor 201 Invest. Bldg. Dis. 6092 | Restricted Home Sites 16th St. and Kalmia Road N.W. Section Hl GH elevation overlooking park. Rea- sonably priced homes—1510 and 1520 Locust Road now under construction. Choice building lots available in several sections of the city. You may now buy or build in this delightful section at the lowest prices ever offered—on convenient terms. Your present home considered in trade. Preliminary sketches of your own ideas of a house drawn without obligation or we will esti- mate on your own plans. We design, finance and build. Complete information may be obtained on premises, 16th and Locust Road, Saturday and Sunday. . Now is the time to investigate. Consult us about your building ideas. & Breuninger & Sons Investment Bldg. Architects—Builders Natl. 2040 the commitment to a | Of 33 groups | GAINS CONTINUE 1N SMALL HOME BULDING IND.C, 36 One-Family Dwellings in | List of Permits of Last Week. | | Small home construction in Wash- | ington continued to show increase | during the past week when permits for erection of 36 one-family | | dwelling were issued at the District dwellings were issued at the District types of construction dropped below the total for last week. The dollars and cents valuation of | all types building permits issued dur- |ing the week was $305255, almost 100 per cent greater than the awer- | age for this season during the past | several years. However, the figure was about $95,000 less than last week. | The figures include alterations, addi- tions and repairs, as well as new private construction. Building_ Inspector John W. Oeh- | mann’s office issued 88 permits this | week, including the right to build ten multi-family flats as well as the | nearly two-score single-family resi- | dences. Building for which permits were issued in the week pushed the total valuation of pfivate construction in the city for the entire month above the million-dollar mark. Largest of Week. | The largest permit of the week was | | issued to Washington Builders, Inc., located in the Tower Building. It called for construction of twelve 2- story brick and stone dwellings in the 6100 block of Fourteenth street | |at a total cost of $54,000. Harry | | Sternfield was named architect for | the project. | The Penn Realty Co., 474 K street, | was granted a permit to erect four 2-story brick flats in the 1100 block | of Holbrook street northeast and the 1100 block of Staples street north- east at a total cost of $30,000. C. H. Small, 930 New York avenue, was | issued a permit to build six flats ini | the 1600 block of Trinidad avenue | | northeast. The cost was fixed at| $45,000. | nother large permit was issued to | (Continued on Page 2, Column 1.) | volume of loans g S priné Iéevivalrof H;)me Buying H[]USING []RNE Planned by Loan Associations From 25 to 35 Per Cent of Loans Expected to Go to New Purchasers of Residential Property. Credit suport for a Spring revival in the market for residential proper- ties is going to be provided by the building and loan associations, with hundreds of millions to lend. Prob- ably 25 to 35 per cent of their ad- vances during the next three months will go to assist families in the buying of homes. The United States Building and Loan League cites these circum- stances as the first true reversal of the depression trend in the purposes for which home loans have been sought and granted. The associations which use savings capital to make their mortgage loans are finding about twice as many families interested in buying homes and able to buy them as they came across this time last year. it is shown. “During the past two or three years about 80 to 85 per cent of the ad- vances of building and loan associ- attons have been sought and granted ¢{0r home purchase money is that for refinancing an existing obliga- tion,” explains Morton Bodfish. Chi- cago, executive vice president of the United States League. “The extent to which building and loan associ- ations have participated in this nec- essary readjustment of a portion of the mortgage debt is shown by the figures on our total lending during depression vears, when it averaged nearly a half billion every year. Such activities are clearly recognized as depression work and not until the re- turning demand for purchase loans and for new building loans is quite plain can we judge ourselves in the recovery lending stage. The past six weeks’ results point that way now. “Verbal reports from the associ- ations which are carrying on the most active lending programs point out that the calls for loans are much more likely to be for buying houses and less likely to be for refinancing than they were three months ago. Backing up this symptom by comparisons with last year are some of the latest fig- ures gathered from a representative group of associations, showing a 90 per cent increase over 1934 in the ted families to @ FURNISHED in exquisite taste park surroundings by J H. Small heater room and built-in garage: t useful first floor study. wirecloth screens, heavy slate roof, famous Budget Balancing Suite in block to Reservoir Road and west No. 1421. Open 9:30 A. M. to Sponsored by The £ $ WAVERLY TAYLOR. e cordially invites yeo visit today the furnished Foundry Park Model Home Fn;tall @ FULLY DETACHED and situated on a déep lot high above the Potomac and adjoining beautiful Foundry Branch Park. by W. B. Moses Sons. @ LANDSCAPED to harmonize with the natural beauty of the # Sons. @ DESIGNED AND BUILT to meet the exacting demands of today’s purchasers, with seven rooms and two baths. a finished base- ment containing an attractive lounge, lavatory room, laundry room, wo delightful porches and a most ® EQUIPPED to give maximum comfort and convenience, with gas heat, gas refrigerator and gas range, Oxford kitchen cabinets, bronze . copper gutters and downspouts. @ OTHER HOMES being completed in this group contain the addition to seven rooms and two baths, at prices from $12.250 to $13,750 Visit the Model Home at 1421 44th Street TO REACH: Drive out Que Street to Wisconsin Avenue. north one to 44th Street, then turn left to 9:30 P. M. Washington Post assist in buying homes. The percent- age of total lending which they report to be going into such loans is close to | 10 per cent already, with the actual | impetus of the Spring months yet to | | be felt in this direction. | “It is noteworthy that the demand [ for purchase loans is coming in much | faster than the demand for new | building loans, because this condition is the natural result of the discrepancy between building costs and prices at | which existing homes may still be | had. The credit support with which | the building and loan associations | expect to swing the residential real | estate market into real recovery di-| | mensions these next few months will | | have its final effect in firming the prices of existing properties and 5o | helping close that gap between new | building costs and the price of houses | for sale. “Undoubtedly another reason for | the tendency of the building and loan | association applicant borrower to ask there has not been much stress from any of the alphabetical agencies upon the aid which government might | possibly give to the buyer of an old | house. Families have been held forth | | great promises of easy terms for re- | i!unflmg and for new building, but | there has been little question that | private capital will still have to be | sought when an existing home is go- |ing to be purchased. As soon as | people are quite convinced that pri- | vate capital alone is going to finance any new building plans which they | have, there wil be an increase in the | demand which the building and loan | | associations experience for construc- tion loans.” [Chevy Chase Bargain *9,750 Ten rooms. twe baths. Can be divided into twe apartments. Large stone-floored front porch, completely equipped kitchen, built- in garage. New-House Condition Lot 80 feet wide with several trees. Close to transportion and new sehool. 3211 McKINLEY ST. Open Sunday HARRY B. PITTS CO. 1015 15th St. N, MEL. 0100 WONDERFUL BUYS OFFERED BY BOSS & PHELPS 6134 30th St. N.W. $9,500.... A New Home. From Chevy Chase Circle drive east on Rittenhouse St. to 30th St. (at intersection of Utah Ave.), thence to house. 5428 30th Place N.W. $10,750 . . . A New Home. From Connecticut Ave., east on Military Rd. to 30th Place and vorth to house. New Home. From Bethesda Bank, at Wis- consin Ave. and old George- town Rd., turn left into Edge- moor Lane to Fairfax Rd. and left to house, in Edgemoor, Md. 4700 Linnean Ave. $24,500 . . . A New Home. In Beautiful Forest Hills From Connecticut Ave., drive east on Ellicott St. to Linnean Ave. and south to house on cor- ner of Chesapeake St. 3612 Davis Street $14,750 . . . A Finely Recon- ditioned Home. In Massachusetts Ave. Heights From Massachusetts Ave. drive around Observatory Circle into Davis St. to house. 103 Grafton Street $24,750 . . . A Beautiful Home in New Condition. Drive around Chevy Chase Circle to west side and into Grafton Street, Chevy Chase, Md. OPEN TODAY. 2 TO 6 SUNDAY, 10 TO 6 BOSS & PHELPS Realtors PLEDCESHT 1200 S0 I WOR Campaign Will Swing Into “High Gear” Soon, Director Says. Workers in the Washington better housing campaign to obtain $6,000,~ 000 in modernization work promises announced today that through Thurs- day 1,291 pledges had been obtained. Joseph K. Gilchrist, director of Fed- eral Housing Administration in the District, said the pledges represented about $435,000 in actual work. Gilchrist announced that his work- ers had interviewed 4,529 home own- ers of the city, and said he expected the drive to go into “high gear” dur- ing the next few weeks. Recruits will be sought to add to the canvass army, which now numbers slightly less than | hundred. Banks and building and loan asso- ciations in Washington have made modernization loans valued at ap- proximately $1,200,000 since work " (Continued on Page 4, Column 6. | —_— A Charming All-Brick Home 110 Glenbrook Rd. Battery Park, Md. $8,850 A beautiful Cape Cod home. all brick. with six very large rooms and lovely bath. Modern in every possible respect — electric kitchen, refrigeration. open fireplace. slate roof. copper spouting. built-in garage. and on a 60-ft. lot. A LARGE NEW HOME AT A BARGAIN PRICE Follow car line oxt Old Georgetown Rd. to Glenbrook Rd.—turn right, Open Saturday P.M. and All Day Sunday PHILLIPS & CANBY, INC. NAt. 4600 Investment Blds. AReal Valueina New Detached 4-Bedroom Brick Home . 123 Madison St. N.W. Out_16th St. or Kansas Avi to Madison St., right to hoi New Detached Brick 4 Bed Rooms 2 Tiled Baths Priced Surprisingly Low Adjacent Ft. Slocum Pk. Big living room. ing room. d_room. gas heat. rock and Celotex insulation. detached brick garage, screened and weather-stripped. Furnished by P. J. Nee & Co. OPEN DAILY, 2 TO 9 P.M. e L Tower Blde. National 9248, |35 HOUSES TO BE BUILT IN WALROY HEIGHTS Moderately Priced Homes to Be Constructed According to Dis- | trict Regulations. ‘Thirty-five moderately priced houses will be built in Walroy Heights, near Clarendon, Va., by the firm of | Vaughn & Usilton, Inc, it was an- | nounced today. Two of the houses have alréady been completed and others will be started this week. The completed homes were among the first in the ‘roumy to be connected with the new | Arlington County _sewerage system, | which is being installed with P. W. | A. funds. The new development is located between Columbia pike and Wilson boulevard, and adjoins the Patrick Henry School. District building reg- ulations are followed throughout in constructing the houses. The houses are of the five-room type. = P Large Area Needed for Flax. Sixty-two million acres are required | to produce the flax necessary for our annual consumption of linseed oil This 1s equivalent to the area of the upper four New England States. Detached—Chevy Chase, D. C. 8 Rms.—OPEN—2 Baths 5913 32nd St. N.W. Lot 68 Ft. Wide—2 Garages Large, i closets, ht, cheery rooms; big ng room with open fireplace, large sun room, din- ing room, perfectly equipped kitchen with breakfast nook, electric refrigerator. 4 Real Bed Rooms 2 Large Tiled Baths Convenient to bus, schools, store One Trust $10,500 (F Brodie & Colbert, Inc. Realtors 1707 Eye St. Fasy Terms Na. 8875 SPRING | 20 NEW HOMES READY Frank A. Simon to Open Crest- view Residence Tomorrow. Twenty all-brick bungalows, most of which have just been completed, will be opened tomorrow by Frank A Simon in Crestview, situated out Massachusetts avenue extended near the District line. ‘The houses, built by the Central Building Co., each contains five rooms and a tiled bath. All of the struc- tures have the latest modern home appointments. They were built to meet the present demand for low cost housing, though possessing qual- ities of much larger dwellings. They are located on Crescent place, just off Massachusetts avenue. oAnoiher (BEITZELL/OY Spring Showing In Chevy Chase, D. C. 3805 Legation St. N. W. Half Block West of Conn. Ave. A charming new DETACHED Celonial Brick Home of cen hall plan, effered for the Six large rooms, il morning room: up ation room: beautifully colored bath with tile shower: furred walls; entire house insulated, caulked, weather-stripped ~and Screened 150 feet deen: " cony @ Built by Max § from 9 a.m. to % p.m. Modern G a s Apnliances Through Co-operation o Washington Gas Light Co. oc. transportation ugar. Open daily Tower Blde. SLIGO PARK LLS Brings the Greatest Nezo Home Value of a Lifetime home is truly a paradise and little children. sheer size and beauty. very best that town and minutes. DIRECTIONS—Drive ORTH Realty 7906 Georgia Ave. E. BROOKE LEE, President Surrounded by a natural parklike beauty, this for lovers of flowers, birds Its unusual features are many, including a high wood-paneled living room that’ll amaze you for The dining room, kitchen, wood-paneled recrea- tion room, bed rooms, closets . .. are each and all convincing evidence that here are the very newest American ideals in home planning. In fact, the country have to offer. Several golf clubs, picnic grounds, recreation spaces, stores, schools and churches within five out Georgia Avenue, turn right jrom Georgia Avenue onto Piney Branch Boulevard, drive straight to Parkside Drive and new homes. ASHINGTO Company Inc. N SHepherd 2400