Evening Star Newspaper, September 7, 1935, Page 15

e ] @he Fpening s HOME FIVANING NETHOD CHANGED ND.COYERA 378 Mortgages Are Insured| Here for Total of $2,475,000. 200 MORE IN PROGESS OF GETTING APPROVAL | Enthusiasm of Speculative Home | Builders Held Encouraging Aspect of Promotion. BY JAMES Y. NEWTON. Predictions made in some quarters 8 vear ago that Title II of the Na-| tional Housing act would revolutionize | the method of home financing in| ‘Washington are partially borne out | in the announcement today that the | Federal Housing Administration has insured 378 mortgages here for a total | of $2.475.000 in the brief time of its operation | ‘Title II of the housing act, carrying Government insurance of pnvalel mortgage loans and a new method of | financing along long-term lines, was | launched in January. Progress was exceedingly slow at first as the new | machinery of F. H. A. swung into action, and as the Administration began the huge task of educating| home owners and prospective home | owners in the new thought in mort- | gage lending. Financial institutions were reluctant to invest au that time in almost any type of private construc- tion, and in particular home financ- | ing houses were reluctant to enter| into the F. H. A. plan. Interest Increased. However, with each succeeding, week interest in the Administration’s | plan increased, and soon the local | office was flooded with inquiries about the new procedure. F. H. A. started insuring loans in February and an in- | crease in the amount of business has been shown each month over the preceding one. Henry H. Dearing, | chief of the Administration’s District | of Columbia office, stated that in ad- | dition to the insured mortgages that | have been closed, 200 more are with | banks or financial institution in the process of being approved. He stated and explained mutual mortgage in-| surance to 10,000 persons in the last eight months. “We don't have to worry any longer,” Dearing said, “about locate | ing a financial institution that will advance money for the loans. Thers is plenty of money available for the prospective home owner of good credit standing. At the present time about 35 per cent of the mortgages we have insured have been for new | construction, the rest are refinancing | propositions. One of the most en-| couraging signs to us is that the num- | ber and amount of the new building | loans are increasing each week.” Dearing said another encouraging aspect in the promotion of the insured morigage and the F. H. A. method of | financing is the enthusiasm mani- fest towards it recently by the specu- lative home builders. Several months #go the administration announced that builders might apply for prelimi- | nary approval of their houses as soon | as they were started. This meant that | | | Fourteenth Street Properties Sold in $1,000,000 Deal One of the largest real estate transactions in Washington in recent months was reported to- day with the announcement of the sale and lease of 3128 and 3130 Fourteenth street. The deal involved approximately $1,000,000. ‘The property, having a 50-foot frontage immediately south of the Arcade Market, was sold to an out-of-town investor whose identity was not revealed, by the office of S. E. Godden, Albert Small and H. Clifford Bangs. The present structure will be razed and a new two-story building erected in the near future. The property already has been leased to the G. C. Murphy Co,, for a 30-year period. Godden said that 3128 Four- teenth street was purchased from the Barbour estate through the Washington Loan & Trust Co., while 3130 was purchased from the Stockwood Investment Co. The Murphy Co., which operates a chain of 5 and 10 cent stores, will have about 17,500 square feet of space on the first floor and basement. The second story will be used for storage. UTILITY FEATURES INSTAR DWELLING Home on Yuma Street Pos- sesses Many Time and Step Saving Conveniences. The Silver Star Home, 4421 Yuma street, Grasslands, which tomorrow enters its third week of public exhi- bition, contains many utility features that would prove invaluable to the home owner and greatly lighten the chores of the housewife. Despite the unfavorable weather of the past week, which greatly cut down the number of visitors, it was esti- mated that approximately 3,000 per- sons have gone through the attractive early American dwelling in the two weeks it has been open. The visitors, | almost unanimously, have been open in their praise. Time-saving Conveniences. It was felt by The Star's committee of housing experts who gave the struc- ture rigid inspection that this home possesses far more than the average | umber of time and step saving con- veniences that lessen the burden for those who have to do the housework. { The price of the house makes it a | low-cost structure, compared with homes that are being built and of- fered for sale on the Capital market today. It was felt that the future owner of such a home would not be so fortunate as to possess servants and the plan was made with this in mind. & The house is so fixed on its founda- tions that the basement is unusually light and airy. There are a number of windows above ground, which make it a good work room. The heating plant takes up only a small portion of the basement. As it is a gas burner, this insures cleanliness throughout the home. This type of heat is made economical by the fact that the house is well insulated in the walls &s well as the roof. Convenient Arrangement. Rooms on the first floor are sizeable and conveniently arranged. The kitchen is compact and contains an an F. H. A. appraiser would examine ‘ abundance of work and cabinet space. plans and specifications of the houses, | There is a latest type exhlmLhn WASHINGTON, D. C, SATURDAY, SEPTEMBER 7, 1935, | | Clarendon, Va., is shown here in its | occupy their quarters September 15, October 1. It will cost about $1,130 | Air View 'of New F. H. Colonial Village, the new F. H. A. low-cost housing project near have been completed and the tenants are moving in. A. Housing in the Capital area in several years. ‘The Federal Housing Administration by the New York Life Insurance Co. another group of buildings, to be loc than 500 families. entirety. A number of the buildings Another group will while the project will be finished by ,000 and is the largest private project Mill Near Luray, One of Oldest in Project Valley, Is Leased Special Dispatch to The Star. LURAY, Va., September 7.— One of the oldest mills in the Shenandoah ' Valley has been leased by M. E. Roudabush, large Shenandoah Valley orchardist, living in Luray. Roudabush is a member of the same family that owns a mill in Shenandoah, and other mills in the valley. The mill leased is located about & mile south of Luray. Known as the Willow Grove Mill it has been in continuous operation for more than a century, having had its origin about the time of Mun- dellsville, a post office near that site, which preceded Luray in construction, and which the town of Luray replaced. ‘Willow Grove Mill at different times has been owned by the Gibbons, Moore, Huffman and Renalds families. Its present owner is C. R. Grove. The mill is one of the few remaining in the valley with the old-time water wheel furnishing its power. FAIRFAX BUILDING ORDINANCE URGED {All New Construction Work Costing Over $100 Would Be Listed. FAIRFAX, Va, September 7—A county building permit ordinance that will require listing of all new con- struction work costing more than $100 with the commissioner of revenue be- fore work i8 begun, has been proposed by the Fairfax County Board of Supervisors. inance, whicl ToUN nerelare AT apartmentmuite | Sie s o L B s insured the loan, which was made |g¢ its December meeting after a pub- Gustave Ring. bullder, is planning |jic hearing, would become effective ated nearby, which will house more .| January 1. —Star Staff Photo. County tax offictals have long sought 4 HOMES TO BE OPENED | Throckmorton to Display New Houses on Tennyson Street. Four attractive new homes of au- thentic English colonial and Georgian | design will be opened tomorrow at | Thirty-first place and Tennyson street by Willlam M. Throckmorton, realtor. ‘The new houses were built by Bowl- ing & Gardner and are of all-brick construction. Located on deep wood- ed lots, the houses contain six and| | seven rooms, two baths and club room. | Two of the houses have the center hall plan, while entrance to the other |two is from a side h They are Jmodemtc!y priced. SEEK F. H. A. APPROVAL ;Tulsn U. Directors Ask Approval as Mortgagee. | Word has been received here that | the Tulsa University, Tulsa, Okla., | voted at a recent meeting of its board of directors to make application to the Federal Housing Administration for approval as a mortgagee. This infor- mation comes soon after Augustana College, Sioux Falls, S. Dak., expressed | a desire to invest its endowment of $500,000 in insured mortgages. Tulsa Unijversity, with an endow- | ment of $750,000, wishes to utilize it |in handling mortgages in its section not taken by financial institutions in Factor [ 'Neighborhood Big In Selecting Home Site Real Estate Appraisers Advice Choice | ‘ Where Social Consideration Is Not Overlooked. & In selecting & home that has maxi- |ina large number of instances, many mum value, choose & section that|of the devastating influences which | | has neighborhood consciousness, it is | may creep in to get a foothold and | advised by the American Institute of | which, eventdally, result in a sharp | | Real Estate Appraisers of the Na-|decline in the value of homes,” Mr. tional Association of Real Estate Walther points out. “In many neigh- | Boards. | borhoods where there are enough | The institute, with the assistance | civic-minded leaders who are gen-| | of Herman O. Walther, Chicago ap- | uinely interested in the development | praiser, has prepared a detailed dis- | Of their particular surroundings, sta- | cussion of neighborhoods as they af- bility is usually assured. fect real estate values. “Not only is neighborhood con- | “One of the most important so- - | cial considerations in any neighbor- | | hood,” Walther's report stated, “espe- | |cially in what are commonly called the better neighborhoods, is this in- { tangible called ‘neighborhood con- | sciousness,” even from the completely cold-blooded point of view of the | scientific appraiser. | “Neighborhood consciousness has a | great deal to do with the neighbor- | hood’s permanence. It counteracts, | Qutstanding Center-Hall Brick ‘ery Specially Priced 4826 Chevy Chase Blvd. New Williamsburg Col. ‘auch an ordinance, since under the sciousness practical in the sense that |Present arrangement no department it often saves the home-owner money \Of the county government has any in the nature of taxes, assessments,|check on new canstruction work etc, but also because of the ameni- during the year until the commissioner ties that are forthcoming from the | Of Tevenue goes over the county early | in Winter to make assessments. The impossibility of the commis- sioner finding all new work satisfaction that comes from living | among others who are trying to make | things better for future generations. Very often, we find in communities having a strong civic consciousness |been referred to by those desiring a that most of the work is done for | building permit ordinance. nothing. Leaders in the community | form associations and bind the people together for the common good of the | “(Continued on Page 2, Column 6.) 3116 19th ST. N.W. A THOROUGHLY RECON. DITIONED HOME IN MT. PLEASANT 6 ROOMS . .. 2 BATHS $8,950 location near k. Lot Beautiful New Detached 'Brick Home Open Daily to 9 P.M. | 4943 Mass. Ave. N.W. A REAL VALUE Splendid beautitul 5 feet ‘acant. Terms accel Mt. Pleasant Street west on Kenyon Street to and turn right to house. A sain Open Today, 2 to 6 Sunday, 10 to 6 BOSS ¥ PHELPS REALTORS pted drive 19th bar- Brodie & Colbert, Inc. 1707 Eye St. Na. 8875 | Building News PAGE B—1 AUGUST PERNITS TOTAL §1.811,680; GAIN 15 40 PCT. |One-Family Home Rush Is Main Factor in Report of Inspector Oehmann. APARTMENTS ALSO SHOW UPTURN DURING MONTH 23 Newly Planned Structures Will House 96 Families—Mod- ernizing Is Lagging. Permits were issued for $1,811,680 in all types of private construction in | Washington during August, an ap- | proximate 40 per cent increase over the corresponding month of 1934, ac- cording to figures in the office of | Building Inspector John W. Oehmann county as large as Fairfax has often | (Continued on Page Private construction permits, in- { cluding new building, repairs, altera- tions and addition, were valued at $1.372,310 in August, 1934. The most striking increase last month over the previous year was in the matter of permits for one-family dwellings. The right to erect 184 such structures were included in last month's list of per- | mits, as compared with 73 in August last year. The valuation of such con- struction this year was $1.199,300 | while last year the total was $454,860. Construction of apartments likewise showed an increase this August over last. Twenty-three such buildings de- signed to house 96 families were ap- proved this year, while last year's re- port included only four with a capac- ity of 16 families Col. Oehmann’s report, however, re- vealed that modernization and repair work for which permits were issued this August had a valuation of less than half of that approved in the same month last year. The builging inspector’s office issued permits for $548,000 in modernization of homes and commercial properties last year, while the valuation of such work this August was only slightly more than $250,000. The report showed that the row | house retains its popularity in the Capital, as out of 184 one-family in a | dwellings approvede82 were row resi- Column e e e ] Petworth Home 437 Decatur St. N\W. Reduced $2,500 Just 2 squares from Sher. man Circle. Attractive 6- room and bath brick home, 20 ft. wide. Concrete front parch, screened sleeping and breakfast porches. Recon- ditioned like new. Beautiful kitchen, equipped with Ox- ford cabinets and Frigidaire. Deep lot, garage. Now priced at $8,450. Reasomable terms. OPEN UNTIL 9 P. M. {1404 K CAFRITZ Dp1. 9089 More Than 3,000 Lifetime Homes Built and Sold 1) | [ its sale price, and the neighborhood | ~(see SILVER STAR, Page B-4) in which it was located. If the house | was passed by the appraiser the builder would be given a certificate of preliminary approval for mortgage insurance. This plan, it was hoped, would serve the double purpose of: advancing the cause of the administra- | tion and at the same time of giving the builder a sales argument. This plan has succeeded well, Dearing sald. F. H. A. Approval Valued. i “P. H. A. approval for insurance he declared, “has become a badge of | quality for the builder and his house, | and more and more people who con- | template buying homes are asking the | builders and their brokers whether the | particular house they are trying to sell has been examined by our men. | In recent weeks builders and de- velopers have been advertising fact that their houses have been ap- proved for mortgage insurance by the | F. H. A. These builders state that it | has proved an excellent sales argu- | ment, especially when, perhaps, an-| other house the prospective purchaser | has been considering, does not have the administration’s endorsement. Dearing said his office has approved 207 applications for mortgage insur- ance submitted by speculative builders. Dearing has high praise for the way ‘Washington banks and building and loan companies have co-operated with his office. To date 23 such financial Institutions have been qualified to make loans under the F. H. A. plan. One local bank has purchased more than $400,000 in insured mortgages. A large insurance company is close sec- ond with $365,000 invested in insured loans here. Modernization loans under Title I of the housing act also have been made in great number, Dearing said. Banks and building and loan institu- tions have made more than 5,000 small home repair loans, totaling about $2,500,000 in the last year. Dearing estimates that a total of $6,000,000 has been spent for property rehabili- tation work in the Capital in the past 12 months, *514-516 Goddard Rd.» Battery Park, Bethesda, Md. Two new detached brick houses, three and four bed rooms: screened porches. latest kitchen cabinet equipment; lots average 50x180. Open 2 to 9 P.M. Drive out to Bethesda, follow old Georgetown Road to Battery Lane, u;l 1 square, right on Goddard Rd. MARLOW-BEECH CORP. 807 15th St. MEt. 1170 the | _ 1210 G STREET LEASED Nugent National Stores to Estab- lish Women's Wear Shop. Leasing of the property 1210 G street for S. Kann Sons Co. to the | Nugent National Stores, Inc,, was an- nounced today by H. Clifford Bangs, realtor. The new occupants will use the property for a women's wear shop. Bangs also announced leasing of | 1205 G street for the trustees of the Browley Trust Co. to Harry Haber, who will remodel the property and open a women's specialty shop, and a store at 1224 Fourteenth street to Waple & James, real estate firm, who have already established offices there. 4717 4th N.W. 6 Rms., Bath, 3 Porches In Brand-New Condition Price 37,950 Reasonable Cash & Terms OPEN FOR INSPECTION J Chas Shapir () 1508 K St. N.W. NAL. 4886 Open Daily and Sunday Till 9 P.M. Beautiful—Charming 0Old Chevy Chase One Block of Circle 6 Hesketh Street Attractive, spacious center-hall- planned home; living room, dining room, beautiful kitchen and break- fast alcove; complete with Oxford cabinets and electric refrigeration. 4 bedrooms, 2 baths and screened porch, large recreation room, maid’s bath, oil heat, garage. Lot 65x125 Abundant Shrubbery—Trees Modernized and Renovated Like New A Repossessed Buy at 15,950 Reasonable Terms One Trust—Neo Renewals Brodie & Colbert, Inc. Nat. 35—Evenings, Clev. 3953 T T ST Y TR IN SHEPHERD PARK Delightful New Home Tulsa. GARDEN CLUB TO MEET ‘The Washington Garden Club will | meet Monday at 2 p.m. at the Young | Women's Christian Association Build- | ing to open its Fall series of monthly | | meetings, with Mrs. Charles W. Arth, | | president, presiding. | Discussion will center chiefly on the | | necessities of early Fall planting and | | Winter conditioning of gardens. | BRADLEY HILLS ACREAGE Wooded—Rolling Pre-subdivision offering of beautiful home sites in this exclusive tract with protec- tive restrictions; 12 acre or more, $850.00 and up; a truly wonderful buy. Drive west on Bradley Boule- 1432 Juniper St. N.W. Will Consider Trade Lovely new center-hall Colonial. Completely insulated—5 real bedrooms, 8 baths, library and lavatory on first floor—recre- ation room—oil burner—2-car brick garage—lot 50x132, Open Daily Until 9 P.M. Drive out 16th St. to Jumiper St. Turn rioht % block to houses a $7,950 A large fiveeroom and bath with extra den. All brick with slate roof, insu- lated ceilings, furred walls, copper water pipe, screens and metal weather-strip, G. E. refrigerator and range. House complete with the finest construction. - Open Daily and Sunday. PHILLIPS & CANBY, Inc. NA.4600 Investment Bldg. i | 0000000000000 00000000000 | Detached English Hme vard 3% miles past Wis. Ave. and Bradley Lane, look for signs on parked car. R.B. WARR 1108 16th St. ‘Wis. 3068 6450 % Unquestionably the best new-home values in Amer- ica. Only two minutes to the natural woodlands of 150-acre Sligo Valley Park with its streams, play- grounds and picnic groves. FEATURES: Room. ® Buili-in Garage. Two Large Papered Bed Hot-water Heat. Rooms. ® Ten Minutes from Uni- ® Kitchen has Gas Steve, versity of Maryland. Electric _ Refrigeration, Schools, Bulit-in Cabinets. Churches, Business Cen: Tiled Bath. tes DIst. BT Realtor z00 Large_Livin DJRECTIONS: Drive out Georsia Avenue throush Stiver Spring, turn right on Bonifant Street at cfg:l"'t Drug Store, three blocks to homes in Sligo 4409 Brandywine St. Drive out Wisconsin Ave. to River Road, Turn left on River Road to Brandywine St. and Ezhidit Home. Only ‘9 ) 2 50 Terms ONE OF THE FINEST HOME VALUES ever offered in a detached English residence for $9,250 . . . Lot of 50 feet front- age on high elevation, close to the new Woodrow Wilson High School, Alice Deal Junior High School, churches and transportation . . . Southern exposure, 6 spacious rooms, tile bath, with built-in fixtures, Electric-Health Kitchen . . . Open fireplace, copper water pipes, furred walls and all of the latest construction features . . . Beautifully landscaped, built-in garage, paved street and alley. Completely Furnished by PALAIS ROYAL Open Until 9 P.M. 1404 X CAFRITZ b1 s0s0 More Than 3,000 Lifetime Homes Built and Sold $10.950 in CHEVY CHASE No. 3 West “'m.»dbine Street @ Priced to sell immediately, this home at No. 3 West Woodbine Street is truly your opportunity. @ One hundred and fifty feet off Connecticut Avenue, within four blocks of Columbia Country Club and in a lovely setting of trees, choice shrubs and roses, it features an extra room, with full bath adjoining, on the first floor that can be used as a bedroom or library. A large living room with fireplace, living porch, dining room, kitchen and butler's pantry complete this floor. The second floor contains 3 bedrooms, bath and glass enclosed slecping porch. A maid’s room and toilet are in the basement and equipment includes a large size Frigidaire and an Electrol oil bu rner. The garage is detached. ® Your immediate inspection is suggested. Open until Sunday night. WAVERLY TAYLOR. % " REALTORS 1522 K STREET NATIONAL 1040