Evening Star Newspaper, July 20, 1935, Page 20

" B—6 %% REAL ESTATE INSURANCE PLAN SUCCEEDING HERE Mortgage Surety Office Has Almost $6,000,000 in Applications. (Continued From First Page.) New Home ts the smallest in the country, it stands third in volume of mortgage insurance business transacted. Dearing’s office is exceeded in valuat on of mortgage insurance applications only oy the Newark district, which includes a por- tion of New Jersey ann the State of Pennsylvania, and the Los Angeles | district, including all of California. Speculative Luilders and land de- welopers, Dearing stated, have been offering unusuaily fine co-operation in recent weeks. He seid a large per- centage of the leading home ouilders in Washington had ejther applied for or received preliminary indorsement of their homes for mo’tgage insurance. New Policy Instituted. Dearing has instituted & new policy of co-operation with rpeculative build- ers which he beiieves will prove bene- ficial to all persons concerned. When & builder has ccmpleted a house he may obtain preluninary approval for mortgage insurance from F. H. A. so that when a purchaser is found, if he wishes to finance through the F. H. A. plan, he will be saved the trouble and delay attendant to fling appiication for such insurance. Dearing believes that this system of {ssuing preliminary approval of a house before it is solc will prove & valuable selling argument for the| builder, as before the preliminary ap- proval is granted the structure must | pass the comparative.y rigid require- ments as to neighburhood and con- struction imposad by the Housing Ad- ministration. So, Dearing points out, the preliminary approval slip from his office will be rezatded as a badge | has been sold to an ot and two baths. through the office of J. A. McKeever. THE EVENING STAR, WASHINGTON, D. C. Purchased This home, at 3803 Calvert street, one of a group of ten new homes, -of-town investor by the Calvert Realty Co. The home contains six rooms —Star Staft Photo. of merit for the bui.der and will insure the buyer against ccntracting for a poorly built home. Air Conditioning Three million new and four million | merous. 3,000,000 New Homes Needed In U. S., Eberhart Declares He can repair or modernize Air-Conditioning Installed in Largest Neighborhood Show Houses. BY LAWRENCE TUCKER. The installation of ultra-modern air-conditioning equipment has re- cently been completed at the Am- modernized homes are a conservative his home immediately and pay the | estimate of America’s needs, former | cost in monthly installments at the | Gov. ‘A. O. Eberhart of Minnesota | reasonably low ‘rate. He can buy, | declared in an address this week at| build, or refinance & home with a the Columbia University Summer | comparatively small initial investment | session. | and pay out of his earnings monthly sl rhe otk m Na | without interfering with his other bassador and Tivoli theaters, largest | tional Home Builder,” Eberhart char- of the neighborhood show houses. acterized the national housing act as | Although hundreds of other air-con- | “the surest and safest road to a gen-| ditioning installations have been made | eral and permanent return of pros- these theaters are the first to be perity.” A third of the entire un-‘ equipped with comfort cooling since |employed population could be absorbed | the downtown houses made provisions | in rebuilding America with practically for it several years ago. The great ad- | no cost to taxpayers, he said, adding obligations. “He does not have to worry about mortgage renewals nor pay excessive rates of interest on second mortgages. is taxes and insurance are paid as he goes along, so that they cannot accumulate and embarrass him in times of stress. He gets a better over such a period of time as his in- come will warrant. “To the community the advantages are equally important. The lending institutions are fully protected by Government insurance, enabling them to use their surplus funds practically without any risk or loss, thus increas- ing their earning power with perfect safety. Under the Government plan the lending institutions are no longer forced into the real estate business and consequently not compelled to unload real estate holdings when there is no available market. Every dealer in building materials and sup- plies is paid in cash and does not have to incur any credit losses. Benefits to All “There is not a single business or professional institution in the com- munity which is not directly and in- directly benefited by the increased earning and buying power of the workers. Real estate sales and rental values are increased. The whole com- munity takes on & more attractive and inviting appearance, thus in- creasing the demand for homes. “In short, the Government housing plan segregates the profits in the building industry from practically all the risk, gives to business its neces- sary profit and protects against losses by a sound and practical plan of insurance. Under the modernization credit plan the cost of this insurance has been less than 1 per cent and under the mortgage plan the entire cost is pald by the borrower. Another very important result is the con- version of relief rolls into pay rolls, thus reducing the burden of the tax- payers to that extent. “To the Nation as a whole the ad- vantages of the national housing act are necessarily similar to those of its separate communities. In re- pairing and modernizing approxi- mately 4,000,000 homes and the build- ing of 3,000,000 new homes, which constitute a most conservative esti- mate of America’s needs, at least one-third of the entire unemployed population, or about 3,000,000 men and women, are taken out of the bread line and put back to work in profita- ble employment, with practically no cost to the taxpayers. “At least 90 per cent of young criminals come from neglected homes. I do not mean poor homes. I mean homes in which the children have no interest and from which they stray at an early age omly to drift into crime. “When we consider that crime costs the American taxpayers 13,000 million dollars annually—almost one-half of the entire national debt of the United States, then we should have no hesi- tation to determine where duty calls us. We cannot escape the responsi- | bilities of leading the youth of Amer- ica in proper channels and few should therefore consider it & great priv- ilege to help in the cause of ridding our country of this unbearable crime stigma and its consequent tax bur- dens. Crime Prevention. “The neglected home is the breed- ing ground of our penal and charita- ble institutions. Therefore, anything SATURDAY, en the influence of the American home constitutes not only the great- est service to our country, but also our own most important patriotic duty and responsibility. If we can suffi- clently improve and strengthen the influence of the American home, we need not worry about the future of our country or its institutions, but if We are remiss we must sooner or later find that these institutions will ‘perish from the earth.’ “May- we then not plead with all who represent these two great foun- dations of government, the home and the school, to join with the Federal Housing Administration in doing everything ppssible that the American people may take full udvantage of the national housing act. This is the surest and safest road to a general and permanent return of prosperity. “Recently an amendment has in- ereased the insurable amount obtain- able under Title I of the national housing act from $2,000 to $50,000, which is applicable mostly to busi- ness, industrial, educational @ and apartment buildings. A borrower with a satisfactory income can obtain cash and pay the money back over a period not to exceed five years. By paying it back in monthly intsallments he is enabled to pay it back out of his regular earnings and the entire dis- count cost cannot in any event ex- ceed $5 per hundred for one year. “Under this act a person with an average income can buy, build or re- finance a home with one-half of the initial investment now required. He can start with only 20 per cent, which must be in cash or mn a well-located lot, or both, and borrow the remain- ing amount from an authorized lend- ing institution, payiag it back in monthly installments cver a period not to exceed 20 years. Taxes and fire insurance must also be included in these installments. He pays 5 per cent interest on the mortgage, one- half of 1 per cent service charge to the bank and one-half of 1 per cent insurance cost, making a total of 6 per cent.” $1,000,000 Road Opened. ‘The $1,000,000 viaduct road between | Penmaenmawr and Lispifairfechan, | Wales, has just been opgied. | | LA S And NOW! o BEAUTIFUL Country C JULY 20, 1935. NEW F.H. A. RULE 10 ASSIST HOTELS Amount Insurable for Mod- ernizing Work Is Extended to $50,000. b Hotels throughout the country are now provided means with which to carry out necessary modernization project since the extension of the amount insurable by the Federal Housing Administration under the modernization credit plan to $50,000. Such credit is available at private lending institutions approved by the | Housing Administration. Under the new regulations govern- ing ‘modernization credit, funds to meet the needs of individual hotel op- erators are now available at rates lower than have ever been offered to the public on a monthly installment credit plan. By the amended modernization credit plan amounts not in excess of $50,000 may be extended by financial institutions for additions, alterations, repairs, or improvements to ‘“real property, improved by or to be con- verted into apartment or multiple- family houses, hotels, office, business, or other commercial buildings, hos- pitals, orphanages, colleges, schools, or manufacturing or industrial plants.” Hotels now have an opportunity to meet the requirements of a modern- minded public by carrying out neces- sary repairs and improvements that were neglected during recent years. Reports indicate that such modern- ization projects more than justify the investment in terms of increased patronage and prestige. The problem faced by the individual hotel owner| of meeting competition is materially | lessened by this new channel of credit | opened by the modernization credit | plan. lub Grove Offers for the First Time Its Outstanding Achievement $7,950 Reasonable Cash Pay- XEAL ESTATE. $4,950 to $5,450 will build on your lot a BRICK BUNGALOW Perpanent Financing—Low Monthly payments—No renewal costs or fees. Full Basement—Slate Roof—Furred Walls— Large Rooms—Wood-burning Fireplace—Tile Bath—Modern Kitchen—Refrigeration—Hot-water Heater—Garage. A SAMPLE HOUSE showing quality workmanship may be seen at 3121 First atreet, North, Clarendon, Va. Drive out Wilson boulevard, turn left on Irving street (at monument in Clarendon) and left again on First street, north. B.F. EVANS, Inc. 907 15th St. N'W& NAt. 7760. Wesley Heights I'HE GARDEN SPOT OF WASHINGTON ‘The value of Wesley Heights homes was created by the purchase and controlled de- velopment of several hundred acres of ground perfectly suited to the purpose. It is close in, has a high elevation, and was sub- divided so as to preserve all the natural advantages of its heavily timbered, rolling terrain. In construction, its houses had the ad- vantages of being built of the best obtainable materials, the finest craftsmanship and splendid architectural planning both of the individual house and the ensemble. At great expense, the developers con- sistently refused to sell lots or to permit the entry of any other builders, thus gradually developing the pattern of the existing splen- did community, without a peer in Wash- ington, Now, ten years after its start, the demand for residence in this community has in- creased with its growth and only occasion- Vances in fthe sclence of supplying | that housing, vital to everybody, is | home at less cost and pays for it and everything we can do o strength- ment—$59.50 Monthly ally does the opportunity present itself to artificial weather are graphically demonstrated in the design of both of the systems, not only in the ideal con- | ditions enjoyed by the patrons, but in the simplicity of the equipment itself. | Causes for criticism in the cooling furnished by the older type of in-| stallation, to a large degree, have| been removed in these plants. Many | people have objected to the extremely cold, clammy feeling experienced in most theaters and have asked for an | explanation of the cause of this un- pleasant condition. | Heat Content Varies. ! 1In the first place we should consider | the problem involved in changing the | climate inside a theater. It contains a huge quantity of air end a widely | ranging number of people, hence the amount of heat to be removed is far from being constant. This condition calls for a sensitive system of auto- the one outstanding field today which is not overcrowded. | Linking rehousing to the prevention of crime costing almost one-haif of the national debt, Eberhart called the movement “intelligent selfishness,” which would better the whole Nation while aiding the individual in his struggle for success and happiness, “The building industry, next to agriculture, is the most important of our industries, employing approxi- | mately 4,000,000 workers, including! those engaged in the manufacture of durable goods,” Eberhart asserted “The restoration of the building in-| dustry is therefore essential to our national recovery. It is the Nation's one great opportunity as well as duty and responsibility. 1,000,000 Jobs Undertaken. “Through direct and indirect re- sults of the national housing act 1,- 000,000 homes have already been Reasonable Cash Pay- ment—$69.50 Monthly STUDIO HOME (at right) —in attractive English architecture. Studio liv- ing room, breakfast room. Has facilities for club room. Furred-wall con- struction. Wood-burning fireplace, large, wooded, landscaped lot. ENGLISH TYPE (at left) —charming, well arranged brick home with smart step -down living room and wood-burning fire- place. Exceptional con- struction, featuring furred walls, tiled bath, built- in garage. Deep, land- scaped lot. re-buy one of these fine homes. Today we are able to offer the three fol- lowing properties at prices that make this opportunity doubly attractive: 4343 Cathedral Ave. N.W. 8-room home, charming architecture, beautiful corner lot, 2-car garage. 4432 Klingle Street N.W. 6-room, 2-bath home, snugly set in attractive landscaping; 2-car garage. 4518 Klingle Street N.W. Magnificent grounds, 100x150, with natural spring, fine landscaping. House contains 8 rooms, 3 baths; 2-car garage. matic control that will maintain en | placed under repair or modernization. T 3!‘d e even temperature regardless of load. | Over 225,000 loans have been made by | ‘Then again, the modern trend is away | about 5,200 lending institutions, which, from extremely low temperatures, but | under this act, are insured by the instead, supplying a much drier air.| Government. These loans average In order to insure the supplying of | about $430 each, and up to this time properly dried air to the audience the | less than 90 of them have defaulted, Other Fine Homes at $8,750 to $10,750 Come Out and See for Yourselt Why To reach these fine homes—drive out Canal Road, across Chain Bridge and straight ahead up Glebe Road one mile 6209 Gergia Street CHEVY CHASE, MD. W. C. & A. N. MILLER . i 1119 17¢h St. Dlstrict 4464 old style “washer type” air coolers| have beer eliminated and compact, finned cooling coils have taken their place. These coils require a space which is only a fraction of that oc- cupied by the bulky washer, and are | also much lighter in weight, hence | they have been placed up on the roof | directly connected to the blowers. One should also remember that in addition to the prevailing heat out- side, the heat of the air inside the building, and in the fresh air being supplied, there is a much greater source of heat and moisture from the patrons themselves. Each person sit- ting down quietly watching a movie is giving off a large amount of water vapor in his breathing. This heat and moisture must be removed by the air- conditioning equipment in addition to all the other factors mertioned. Must Vary With Crowd. It is obvious, therefore, that as the crowd varies the air-conditioning ma- chinery must vary its capacity too or the temperature will become too low or high for comfort. This is one thing that many of the older systems are not equipped to do automatically. ‘Then, again, if the machinery is not adequate in capacity to remove the water vapor being given off by the audience, this moisture builds up in the theater’s air and before long has reached a point where the clammy, damp sensation is experienced. Th> equipment installed in the Aml ssador and Tivoli theaters has been designed to both cool and dry the air adequately and automati- cally, and numerous patrons will no doubt spend many evenings enjoying their movies in air-conditioned com- fort. Tip on Sticking Doors. The binding or sticking of a door against the door frame may be caused by loose hinges, settlement of the frame of the house, swelling of the door or frame, or warping of the door. Plane the edges, preferably along the hinge side, since these are easier to remove than the lock. Var- nish or paint the freshly planed edges immediately. ATTENTION Building Contractors showing first that the 20 per cent insurance furnished by the Govern- ment is more than adequate; and, secondly, that the people are not in- duced to borrow beyond their ability to pay. “For every dollar borrowed the rec- ords show $5 in cash actually used for similar purposes by owners who are able to provide for their own credit. “The advantages of this act to the individual as a home owner are nu- children. able home? Must Be Sold! Out Conn. Ave. to 1506 K St. A most substantial home with eight (8) splen- did rooms, oil burner, spacious lot, 2-car garage. Excellent location—an ideal place for you and your Why not drive out and see this desir- Open Today and Sunday! Bradley Lanme, turn right to Georgia St. (1st. left-hand turn). REALTY ASSOCIATES, INC. Realtors Nat. 1438 SAINT CLEMENT SHORES Why cook dinner at home Sunday when you can drive to Saint Clement .Shor.es and enjoy a wonderful seafood meal for 60 cents cooked as only the cooks in historical Southern Maryland can cook? Then after dinner enjoy bathing at the beach where you are protected from sea nettles by wire netting. The water you drink here is the purest, its purity attested to by the health authorities of Maryland and the District of Columbia, flowing from wells 312 feet deep. Miles of water rnain afford an unlimited supply. You can .purchnu a lot here from $50.00 up to $700.00 on which to build your- self a beaunfyl summer cottage so that you can get away from the oppressive lrx‘snt.of the city and enjoy your vacation and week ends to the fullest extent. Fishing, crabbing, bathing and motor boat sports are unsurpassed here at Saint Clement Shores. Drive out Pennsylvania Avenue, Southeast, over the bridge, turn to the left at 25th Street to Good Hope Road and then follow Route 5 to within .1%; miles of Leonardtown where you will see a large sign on the righthand side of the road marked Saint Clement Shores, three miles from this sign, and you are at the beach, 54 miles from the District line. to development—only 15 mini Virginia Gardens Development Corp. Owners and Builders Phone Walnut 8850-W YOU FO Wardman Built Homes Sy 6209 Melville Place utes from the White House. R PRESENT HOME R ONE OF THESE CHEVY CHASE, MD. The furnished model home contains 8 large rooms and three baths. From a standpoint of architectural excel- lence, you will find that these homes are unsurpassed. Attractively designed and ideally located, you will find these homes just what you all means, see them today. Features © Step-down | Living Room © Delco Oil Burner © 2 Screened Porches ® Heated Club- room have bgen looking for. By GET OUT OF THE HOT CITY A HALF ACRE OR A FULL ACRE RIGHT OUT NORTHWEST WE BUILD AND FINANCE THE SORT OF HOME ‘B‘l}ggT SUITED TO YOUR NEEDS AND YOUR POCKET- BOOK. YOU DON'T HAVE TO TAKE A STOCK HOUSE! Depen on Size and Location From $5,950 to $15,000 ALL-ELECTRIC HEALTH KITCHENS Drive out and get the FACTS about A NEW STUDIO APARTMENT DETACHED HOME as low as $5,950. Two sample homes with 24,000 feet of ground each—garden 8 equal to two city lots. One at $7,950, and a Cape Cod Colonial at $8,250. FAMOUS OLD GEORGETOWN ROAD TO - INSPECT Drive straight out WISCONSIN AVE. TO BETHESDA (or across, East and West Highway from 16th St. to Bethesda), follow car line, road LEFT of Bethesda Bank Building four miles to property. This road passes through Washington’s only large estate area. BUS SERVICE NOW APPROVED Ask for Mr. Sinclair, Sales Manager, at the beach or call him—care of LOUIS P. SHOEMAKER £ - » 1719 K $t. N.W. See Owners by appt. 8606 Dale Drive South Woodside Park Shepherd’ 2885 Harry Wardman, nc. Agents [l [SHANNON-&-LUCHS 1512 K Street N.W. DI. 3830 DE Lomznu' €o. : :