Evening Star Newspaper, June 29, 1935, Page 22

"B 6 REA REALTY COURSES | OPEN AUGLST 5 Maturity and Variety of Experiences Feature Chicago Class, When there opens on August 5 on the campus of the University of Chi- cago a group of professional courses 1n real estate appraisal for experienced valuators given jointly by the Amer- | jcan Institute of Real Estate Ap-| praisers and the School of Business of | the University of Chicago, the student | body will be outstanding in maturity | and variety of experience, advance en- | rollments indicate | Interest in the courses, the first of | their kind in appraisal history, is in- | dicated in the fact that applications | for enrollment already exceed one- | third of the number that can be | accepted. Enrollment will be limited to 100 students, and is open to any | one with adequate background of edu- cation and training. Advance enrollments, already repre- senting 15 States, indicate that the student body will include two presi- dents of State real estate associations, | past presidents of a number of real estate boards, a number of fee ap-| praisers of H. O. L. C. and F. H. A, and two staff appraisers of H. O. L. C., members of appraisal committees of some of the largest real estate boards of the country and a number of men who have had distinguished experi- ence as expert valuators in court cases, as appraisers for life insurance com- panies, for railroads and for public utilities. It is significant that a very Jarge proportion of the early enroll- ments are of heads of mortgage com- panies, heads of mortgage depart- ments of banks, real estate firms and trust companies, and appraisers for banks, building and loan associations L ESTATE. THE EVENING STAR, WASHINGTON, First Prefabricated House in District ‘An architect’s version of a six-room bungalow which is being built at Thirtleth and W streets southeast for Dr. M. S. Fealy. The house is being built of prefabricated mosaic concrete from the Earley studio at Rosslyn, Va. Permit for building the home was the first issued by the District Bullding Inspector's Office for a prefabricated house. The house was designed by Harry Sternfeld, professor in the architecture school of the University of Pennsylvania, {GARDEN WALKS BLEND WITH LANDSCAPES Types Should Be Decided After Style of Entire Project Is Determined. | A garden walk should be of & ma- | terial that weathers well and blends naturally with the landscape. The material and the construction varies | with the type of garden. For an old | Colonial garden nothing is more at- tractive than soft-toned brick, laid on |® cushion of sand. They will soon be | weathered and covered with moss and | add greatly to the charm of the gar- den. For a natural path that winds | through the woods or a rock garden, water-worn flagstone would be appro- | priate. and other financing institutions. e e fhie) fosinal erench, ot Taten Courses will be given at Judson and | garden, the walks are frequently of Burton Courts, on the campus of the | eyt sandstone or limestone with nar- University of Chicago. Students may | row cut stone curbings. Sometimes live at the courts, and will have access | jarge colored pebbles are fitted into to the libraries both of the university | patterns and set in cement and used and of the institute, which last. NOW | for walks in formal gardens. contains more than 1,000 duplicates | well compacted clay gravel makes of appraisals made by members of the | o 0o0d waik., but there should be| institute over the country for their |enough clay in the gravel to keep it clients, | firm or else the loose stones are un- The courses, lasting four weeks, | comfortable to walk on as they are apt | broken into two groups of two Weeks | to get into low shoes. each, will include more than 65 lec-| Such improvements may be made tures. The courses are notable in|through modernization credit available that: 1. They were worked out in detail | by the institute, through its Commit- | tee on Education, of which K. Lee Hyder, Milwaukee, is chairman. 2. All instructors will be members of the institute, chosen both for their | appraisal experience and for their successful teaching experience. | 3. Case method will be used to a | high degree to supplement lectures. | Round-table conferences will also be used. The courses will thus consti- tute an active national Summer con- | ference on appraisal method. Some 50 properties in the Chicago | metropolitan area have already been | selected by the institute for appraisal | by students. These include single | family dwellings, retail commercial | structures, apartment buildings, some | overimproved, some underimproved, some with balanced improvements, some with misplaced improvements. They will be appraised for loan pur- poses, for transfer of interest, for tax adjustment and other purposes. Members of the Illinois chapter of the institute will make model ap- praisals of the selected properties, | these model appraisals to be available | for conferences of instructors and | students. The 15 States from which esrly! applications for enrollment have been | received are: New York (2, from New York metropolitan area): Ohio, Tilinois (11, from Chicago metropoli- tan area); Indiana (5). Michigan (4), Wisconsin, Iowa, Kansas (2), Mis- souri (2). Georgia, Tennessee, Okla- homa, Washington, Texas, Cali- fornia (2). The faculty for the Summer con- ference courses is as follows: George LeRoy Schmutz, Los Angeles, dean | of the courses; Ayers J. Du Bois, | Washington, and Herman O. Walther, [ Chicago. FLOOD CONTROL URGED | Boil Conservation Measures Out- lined by U. S. Official. Flood waters such as recently par- alvzed farming operations in parts of Kansas, Nebraska and Colorado, and FMeaused damage running into millions of dollars, can be materially reduced in the future by a thorough-going | application of soil conservation meas- | ures. This prediction, made by H. H. Ben- nett, chief of the Soil Conservation Service of the Department of Agri- culture, followed a symposium of flood reports submitted to him by regional directors of the service in the three Btates. A. E. McClymonds, with headquar- ters at Colorado Springs, declared: | “Proper erosion-control measures and & well-balanced farm management program would prevent a repetition of the recent flood. | SALES MANAGER NAMED Well-Known J. Fred Chase With Walker & Prescott, Inc. J. Fred Chase, well known in Capi- | tal real estate circles for years has | been named sales manager of the firm of Walker & Prescott, Inc, it was ennounced today. Chase was with the Wardman or- | ganization for five years, and with Boss & Phelps for two years. During the last seven yea:s he has maintained bis own office. Bandstand to Be ll:f-uge‘ Girvan, Scotland, will convert its park bandstand into a Winter old- men’s shelter. Bradbury Hts., Md. il . 60) RANDLE & GARVIN 2515 Penn. Ave. S.E. t lending institutions approved by the Federal Housing Administration. ENTERS BUSINESS Former Manager of Club Michel! | Opens Real Estate Office. Walter O. Von Herbulis, who for the past five years was managing director of the Club Michel, at 1 Thomas circle. recently opened a real state office on the ground floor of || his building. Mr. Von Herbulis is not new in this -business having been in it for 11 years before entering the night club field. Applications and Tentative Commitments Invited for Mortgage Loans Insured by the Federal Housing Administration Frederick W. Berens Mortgage Loan Correspondent McLachlen Bank Bldg. Phone Dist. 3053 $7,500.00 The only house available in this Leland St. group at this low price. Modern in every respect even to its electric health kitchen. Be sure to inspect. Directions: Out Wisconsin Ave, Leland St., left to property, CYRUS KEISER, Jr. 5211 Wisc. Ave. Cleveland 5371 D. C, SATURDAY PRIVATE BUILDING HITS 4YEAR PEAK Total Contracts for May 54 Per Cent Larger Than May, 1934, Continuing the upward trend which began in March, total building con- tracts in the fleld of private enter- prise rose in May to {he highest fig- ure for any month since October, 1931, to the Alexander Hamilton Institute. Figures show that total contracts, measured in square feet of floor space, were 54.1 per cent larger in May than in the same month last year. This gain was largely due to an in- crease of 113.3 per cent in residential contracts. Non-residential contracts, however, showed a gain of 10 per cent. buildis JUNE 29, 1935. contrects .re larger than in any corresponding period since 1931 As compared with last year, there was an increase of 29.2 per cent in total contracts. As compared with the low for the depression in 1933, there was an increase this year of 57.7 per cens. Building is still decidedly depressed. however, despite the gain over the previous three years. Contracts awarded during the Arst five months of 1935 were equivalent to only 19.5 per cent of the volume in the cor- 1espondnig period of 1928, the peak year prior to the depression. The upward trend of rents which began in February, 1934, is still in progress. The rent level in May was 8.4 per cent higher than in the same month .ast year, Building costs on the other hand, are lower than & year sgo, due to a downward trend Guring the first quarter. There is still s wide spread between building costs and rents, however. The rent index for May, on the basis of 1926 as 100, was only 68.7 while the cost of build- ing index at the beginning of June was 93.7. The fact that the cost of building is thus 36.4 per cent too high is the chief reason at the present | fi time for the failure of building to expand more rapidl OR the NEW DEPOSITS INCREASE F. H. A. Modernization Credit | Plan Held Benefit. Praising the Federal Housing Ad- ministration’s Modernization Credit Plan, Merton Wilcox of the Moderniza- tion Loan Department of the Citizens State Bank of Park Ridge, Il re- ported to the district director’s office in Chicago that the bank has received directly assignable to “F. H. A. busi- ness” since first advancing modern- ization credit. “These particular deposits,” Mr. Wilcox sald, “are largely commercial and were opened by contractors and supply houses with whom we had never done business before. The balance were new accounts opened by borrow- ers and consist of some savings and some checking. “To date we have made about 400 loans, totaling some $225,000 face amount, and are making new ones at LOCATION You approximately $70,000 in new deposits, | the rate of about 70 to 80 per month.’ Trade in Your Old House for a New Home This Commanding Corner at Sth and Quackenbos Sts. Six spacious rooms, 2 beautiful baths, one with new angle tub, automatic oil heat, built-in garage. Finished and plastered attic. Two breezy porches. Close to graded. junior high and parochial schools. Express bus line at corner. Within 3 blocks of Washington's largest public rec. reation center with 2 public swimming pools. Open until 9 p.m. Wm. H. Saunders Co., Inc. 1519 K St. NW. District 1015 5% Monthly Payments of $6.60 on each $1,000 borrowed, include interest and pay off loan in 20 years. o Interest charged only on unpaid balance of principal. ® Amount loaned—up to 60% LONG TERM Mortgage Loans of appraised value. ® Valuable prepayment privi- leges. Other plans of financing first mortgage loans available H. L. RUST COMPANY 1001 Fifteenth St. NAtional 8100 § No drive you could select over the week-end would bring you greater delight than motoring through nearby Spring Valley, where Nature's lovely coloring and tree-crowned beauty suggests a far-off vacation ~ wonderland. You'll admire the Miller-built homes, par- ticularly— See 4974 Quebec St. New Exhibit Home Handsome newly constructed Miller-built h o m e featuring every modern buflding innova- tion. Overlooks & W.C. & A.N. MILLER 1119 17th Strect DIstrict 4404 We will build this attractive brick bungalow or your lot with the following specifications: ® Living Room, 17.4x12 ft. ©® Modern Kitchen, 13x8.6 ft. ® Built-in Breakf Nook ® 2 Bedrooms, each 12x12 ft, ® Tile Bath—Porch, 8x10 ® Full Basement Or We Will Build to Your Own Individual Requirements REATL ESTATE, A new English studio home containing 6 rooms, 2 baths, recessed radiation. Home subject to a Federal Housing Loan. Open Daily and Sunday 'Til 9 P.M. Directions: Drive out Piney Branch Road, Thru Sligo Park Hills to sign and office. Office on Premises or Call Ad. 0022 Here's Your Caance! Financing Arranged W. B. CONSTRUCTION CO. Call Mr. Buchele or Write for Full Details 1222 N. Cleveland St., Clarendon, Va. Clar. 2376 FIRST PRESENTATION In-Town Location 2 blocks south of Mass. Ave. and 2 blocks west of Wis. Ave. 3915 Fulton St., N. W. BEAUTIFUL center hall brick Colonial home with large side living porch—six rooms and two baths—celotexed attic—lovely paneled recreation room with stone fireplace —Dbuilt-in garage—Ilot 60x125. Price, $14,750 OPEN DAILY AND SUNDAY J. WESLEY 916 15th St. N.W, BUCHANAN, Inc. ‘Me. 1143 A OVEL NEW Rl IIOME ) BOLLING VIEW Washington’s Newest In-Town Community § | 3901 First St. S.E. This charming white Cape Cod type brick home is ideally suited to your income and budget. Situated on a large, beautifully land- scaped corner lot, size 55 by 115 ft.,, it contains every modern fea- ture seldom found in its price class. On the first floor is & spacious living room , . . arched entrance to living room . . . and & mod- ern kitchen. On the second floor a few steps up are two real bedrooms and tile bath . . . large attic . . . concrete front porch . . . an abundance of closet space . . . automatic storage water heater and large, brizht basement . . . hot-water heat. Price *5,950 Small Down Payment . . . Low Monthly Payments OPEN DAILY & SUNDAY °TIL 9 P.M. over 11th St. Bridge to Auc'gl“gluul continue out Nichols Drive Ave, through Congress Heights two blocks beyond the end of the' car Hme fo our ofice. Turm right ome dlock fo home. SILGAR CONSTRUCTION COMPANY, Inc. Owners and Developers 3900 Nichols Ave. S.E. LIn. 9585 A To Get in On a New Bay Front AT SENSATIONAL LOW PRICES DEALE BEACH On the Chesapeake Bay—30 Miles From Capitol —THINK OF IT— ," 00 Water Front sgg.w ' Lots Lots ¢ INLAND LOTS WITH BEACH PRIVILEGES MANY LESS THAN 200 FEET FROM THE WATER 19—29—°39—49—°59—'69 rms: 10% Down—Payments as Low as 50c a Week DON'T WAIT~ACT TODAY GET IN ON THE GROUND FLOOR Bay Front REPRESENTATIVES ON PROPERTY DAILY & SUNDAY Washington Representative Walter M. Bauman No. 1 Thomas Circle N.W. Phone NA. 6229 THE HOLLOWAY CO. Vernon 0100 204 W. Saratoga St., Balto., Md. A NEW EXHIBIT HOMp P — e e, ¥ 7121 HAMPDEN LANE & Furnished by Hutchison’s, Inc. BDraperies by McDevitt's Landscaping by Imail Greenmwvich Forest ELIGHTFUL ALL-BRICK COLONIAL HOME D on a beautifully wooded lot of 95 ft. front- age, in this restricted community, with 4 cross- ventilated, insulated bedrooms and 2 baths with shower . . . Built with the finest nationally- known materials, and newest features of con- struction, Greenwich Forest homes are equipped throughout with every convenience for modern comfort . . . Priced at $12,500 with reasonable cash payment and convenient terms, this home represents more for your dollar in unequali'ed home value . . . New homes, nearing completior, of 10 rooms and 3 baths on lots of 175 ft. frontage, at surprisingly low rices . . . Drive out today, only gO minutes from the heart of the city . . . Open until 9 P. M. ‘We Will Design, Build & Finance to Suit Your Own idess Preliminary sketches of your individual require- ments in a home submitted without obligation. DIRECTIONS: From traffic light at Bethesda turn_left on Old Georgetown Road 8 bdlocks o Wilson Lane and Greenwich Forest. Phoms: Wlsconsin §204. Office on property. '