Evening Star Newspaper, September 7, 1935, Page 17

REAL ESTATE. APPRAISAL TERMS DEFINED IN STUDY 58-Page Preliminary Report Issued by Realtors’ Edu- cation Unit. Under the title, Appraisal Termi- | nology, the American Institute of Real | ®state Appraisers of the National As- | sociation of Real Estate Boards has | drafted for the study of its members | a 58-page preliminary report of its| Committee on Education and Research | covering briefly some 540 technical | terms important to be clearly defined , in their use in real estate appraisal. | K. Lee Hyder, Milwaukee, is chair- | man of the committee which prepared | the report, just off the press. | Project Begun in 1932. ‘[ Establishment of proper concepts and definitions of terms is a first ne- | cessity in the development of any general \nderstanding of sound ap- praisal theory. The building of a sound appraisal terminology, which would become standard in all use, is a work upon which the institute has been engaged since its formation in 1932. | Chairman Hyder states: “In estab- | lishing a sound real estate appraisal | terminology we face certain conditions which should be understood. | “Appraising is directly and indi- | rectly linked in its practical applica- | tion with many other professional and | business lines of endeavor, such as | the various branches of engineering, | construction, accounting and finan- cing. Other organizations have and are giving considerable thought and attention to the need for a standard | terminology. Laws Vital to Studies. *“The existing statutes of our States | and the precedents laid down by our | courts in matters of valuation cannot be ignored and, initially at least, are vital whether as aids or obstacles in our studies. | “The preliminary report consists of | & reasonably complete list of terms | and suggested definitions drawn up in the simplest possible form. Encyclo- pedic discussions have purposely been | eliminated to a large extent in favor of clear and concise definitions. Many | terms of an accounting or allied engi- neering and financial character ha\'e{ been included. | It should be possible to harmonize | terms and definitions in such manner as to be adaptable to all phases of | appraisal practice and ultimately t issue a report that will have the sup- | port of all interests.” | SULLIVAN APPOINTED T0 JURY IN CONTEST Washington Architect to Assict in Allegheny County, Pa., Housing Competition. Francis P. Sullivan, prominent ‘Washington architect, has been desig- nated as a member of the jury which will select the winning design in the Allegheny County Better Housing Committee—Pittsburgh Press Archi- tectural Competition. The jury will meet in Pittsburgh September 12, and their session will be followed by a meeting of the Pittsburgh Chapter of the American Institute of Architects at which Mr. | Sullivan will be the guest of honor, Mr. Sullivan is the second vice president of the American Institute of Architects, and chairman of its committees on public works ,and on the National Capital, and has been identified with various projects for the provision of low-cost housing in Washington. Other members of the jury are: | Frederick Bigger, Mrs. Oliver J. Haller and O. W. Heselbarth of Pitts- burgh and Robert R. McGoodwin of Philadelphia. | | | H umiditiy ‘nn;luNot | ‘ Building Defects Cause Wet Spots| Realtors Declare Claims Supported by Recent Weather, The unusually high humidity of last Wednesday, Capital home builders say, clinched for them an argument | of long standing with home owners and prospective home owners that the | wet spots on the walls and cellar floors of their new homes were not | due to bad construction but rather to condensation of moisture in the air. | During the recent rainstorm the | humidity hit 98 per cent, only 2 per | cent short of the saturation point of 100. The walls, floors and virtually everything on the inside of every building in town was almost as wet &s on the outside where the rain was falling fast. That was exceptionally high humidity, but according to the builders, it showed home owners and most. of the prospects just what hu- midity will do. Generally, the humid- ity here is not so high, and then, too, generally there aren't so many wet | spots inside as there were Wednesday. The situation had really assumed #erious proportions. It was so serious that many builders had stopped in- stalling recreation rooms, because in the basement, the usual place for such a room, the condensation was hoticed more_than in other parts of | the house. Home owners would not | follow the remedy that builders sug- gested, and the prospective purchasers kefused to listen to their arguments. When moiseture gathers inside | builders recommended starting the | heating plant for a short while. This | will dry out the house. Or, if the trouble is confined to the basement room, light a fire in the fireplace that is usually located there. New-Home Condition! $8,950 313 Jefferson St. N.W. 7 rooms, 2 baths. recreation reom. detached 'ra lectric refrigeration. Lot 15713 feet deep. Within ene bleck of street ear and bus lines. Convenient to schools and stores. Will equip for two families. An abselute barsain at this low price. OPEN DAILY FROM 2 fo 9 P.M. | slight expense by the use of well water is described by M. F. May, an en- gineer, in a recent issue of Domestic Engineering, a trade paper. is being used so successfully by May could be utilized in any part of the | United States where well water at a suitable temperature is available. Thé | drilling of the well and the installa- tion of all necessary equipment may Tower Bldr. THE EVENING STAR, WASHINGTON, Home on Nebraska Avenue Sold This attractive dwelling, at 5804 Nebraska avenue, has been purchased by R. O. Bishop from the Floyd E. Davis Co. The house contains six rooms and two baths, —Star Staff Photo. [1 wer than the water thermostat so Air-Conditionin g Opportu nity | delivered at a temperature of 52 de- | grees, obviously costs nothing. There is nothing in any of the equipment to wear out except the bearings on the pump and as these are bronze bushings, they can be replaced at very | little cost. The total cost of electricity for the operation of the pump and the fan for | the entire season was $10.68. There | were about 600 hours of operation last Summer. Two thermostats in the living room make the equipment entirely auto- matic in operation. One controls the (fan and the other the motor valve supplying water to the cooling coils. The latter thermostat is set at the desired room temperature and turns the water on and off as the tempera-, ture of the room rises and falis within | the range of the thermostat. The fan thermostat is set about three degrees How he is cooling his house at very The method of house cooling which be financed under the F. H. A. plan. The equipment, which is very simple, consi; of a well in the back yard, an electrically driven pump, some cooling coils, an electrically operated fan and the ducts leading to the rooms on the first floor. Cost Is Small. An amazing feature ot the installa- tion is the low cost of operation and maintenance, The water, which is 22 Fairview Road A NEW ALL-BRICK HOME Situated on a large lot 60 feet wide with high elevation, in a re- stricted community of high-grade homes. Contains large living room with real fireplace, recessed radiators—windows on three sides. Center hall. spacious dining room. Light, airy, modern kitchen. Three bed rooms and two complete baths on second floor., Large basement with outside entrance. Brick garage. OPEN DAILY AND SUNDAY To Inspect—Out Sirteenth or Georgia Avenue to traffic light. Silver Spring. Continue out Georgia Avenue to Noyes Drive or Woodside Parkway, then right three blocks to property. 721 Phone 10th Nat’l st. COMPANY 0765 REALTORS—Established Since 1915 Suburban Office, 8955 Geongia Avenue. Phone Shepherd 3530 You're Safe I'D Miller-Built Communities Protected by rigid restrictions Miller - control and Miller - construction msure to the purchasers of homes here. The Miller Home of today will always be the outstanding investment through the years to come. which MWesley Hetghts The Garden Spot of SPRING VALLEY The Garden of Reantiful Washington | 4422 Macomb Hames 4974 Quebee Street Drive eut Massachaseiis Avenue—turn left al Nebraska Avenue or St Fargham Rond Just besond. WESTERLEIGH Huomes in the Hills 4101 Fordham Road Open Daily and Sunday W. C. & A. N. Miller Developers and Builders 1119 17th St— Well Water Offers I ne&pensive k that the fan starts before the water is turned on and operates continuously | until cooling is no longer required. 80 Degrees Easy. May says that with outside tem- peratures of 100 to 105 degrees, he had no trouble maintaining a tem- | perature of 80 degrees in three rooms. D. C, SATURDAY, SE BUILDING PERMITS FOUND INCREASING 37 Per Cent Rise Is Shown | in 31 Fifth Reserve Dis- trict Cities. * According to the current monthly report of the Federal Reserve Bank of Richmond, building permits issued in July in 31 leading cities of the fifth Reserve district numbered 2,448, com- pared with. 1,787 permits issued in July, 1934, an increase this year of 595,636, an increase of 98.9 per cent in comparison with valuation figures totaling $2,310,659 in July last year. for the 1935 month. Among the five largest cities, Baltimore, Washington, Richmond and Norfolk increased in | last month, but Charlotte decreased. Contracts awarded .in July for con- district totaled $14,751,155, compared | 1934, according to figures collected by the F. W. Dodge Corp. Of the July, 1935, awards, $6,377.405 represented | residential type of construction, com- | pared with $2,365,979 for this class of work in July last year. Contracts for residential work made up 43 per cent of all contracts awarded in July this year, compared with only | 13 per cent of July, 1934, contracts. Total valuation figures, by cities, in | 37 per cent, and estimated valuation || figures for iast month #otaled $4.- || Twenty-four of the' 31 reporting | cities showed higher valuation figures || estimated valuation for permits issued || struction work in the fifth Reserve || with $18,091,72¢ reported for July, || PTEMBER 7, 1935. F. H. A. SPEED CITED Journal of A B. A. Lauds Haste of Provision of Loans. The August issue of Banking. jour- nal of the American Bankers' Associa- tion, says: “Bankers who have had experience with the Federal Housing Administra- tion know that it works more speedily than many governmental agencies. When all necessary information is given, a loan may be obtained and corstruction started within a period of 10 da; REAL ESTATE, RECORD CONSUMPTION Use of More Than 16,000,000,000 Board Feet Predicted by Com- mittee of Commerce Unit. Lumber consumption this year will ’be greater than it has been in any 12-month period since 1931, it is pre- dicted by the Special Lumbre Survey Committee of the Department of Com- merce. \ The committee estimates a total consumption of between 16,000,000,500 OF LUMBER FORESEEN B3~ and 17,000.000,000 board feet during 1935, which contrasts favorably with the total of 13,105,000,000 feet in 1932 and 15467,000,000 last year. The stimulus given residential construction by the Federal Housing Administration on a Nation-wide scale is said by the committee to have been partlv re- sponsible for the gains in the lumber industry. — e Plastic Paint Available. A composition, known as plastic paint, which is sufficiently soft to spread with a brush, is similar to soft plaster and can be worked into a wide variety of textures. lies in the Wise Expenditure of July follow: Cities. Balttmore. Md | Cumberland, Md__ | Frederick. Md. | Hagerstown. Md Sallspury, Md. .- ; ville, Va, i 2 P Vi 57,003 154400 All doors and windows, of course, are | kept closed, but from 5 to 10 per cent of fresh air is brought in from the basement. The water, sfter having circulated through the colls, is utilized for do- mestic use and for lawn sprinkling. Next Winter Mr. May expects to add & humidification device and also air filters. He will then have a complete air-conditioning plant giving clean air | Bluefield. W | Charleston Clarksbure. Huntington, Asheville. N. Charlotte, N. Durham, 'N. Greensboro. High Point. Raleigh. N' C Rocky Mount., N | Salisbury, N.' C. Winston-Salem. N | Charleston. at a comfortable and healthful tem- | perature, Winter and Summer. The alr will be supplied with the proper moisture content. Spartansburg. 8. C. Washinglon e---. Totals - Winter lie about? New Home of Enduring Value 1313 Taylor St. Money ferw can aff ord to pay for irifles. vestment and the lasting qualities should be your first consideration. What upkeep? How wll the location wear? Will it be readily Northeast The Secret of Real Economy— A home is a permanent in. accessible when the snows of W e believe this home answers this need—just tompleted of solid-brick construction, assuring the lenst expenditure for upkeep—along Colonial lines—a type of architecture that has enhanced with the vears— not just a fad of today—with large, livable rooms and all worthwhile conveniences, Three Bed Rooms—Two Full Baths Oil Burner Toilet on first floor Screened, Insulated and V entilated Electric Refrigeration—-Two-Car Garage Recreation Room Just South of Michigan Ave. at 13th Place (Within 15 minutes’ ride of the financial and shopping centers) Other Homes Under Construction CHARLES M. W ALLINGSFORD Builder and Owner National 2990 PRESENTING FOUR OF THE FINEST NEW HOMES ON THE MARKET TODAY We invite you to bring your architect or engineer with you to inspect them. We believe their decision will be unanimous regarding the above statement. CONN. AVE. Black line shows most direct route, Investment OCATED in one of the most desirable sections of Chevy Chase, of all-brick construction, these 6 and Large living rooms with wood-burning fireplace, built-in well appointed. Electric cooling eqiup- le closet space, beautifully landscaped and wooded lots. Buckingham type Columbia specialty oil T-room houses a garage with overhead doors. Tw Large bed rooms with amp! abestos tile walls in the club room and the new- Just one short square from transportation. PRICED FROM $11,250 to $12,500 Built by Bowling and Gardner—Designed by Louis R. Moss; Architect OPEN- FOR INSPECTION DAILY AND SUNDAY UNTIL 9 P.M. ment. slate roof, copper flashings, burners. Furred wall re outstanding values. S. o lovely tile baths are extremely et i o o e CORNER 31st PLACE AND TENNYSON ST., CHEVY CHASE, D. C. Drive out Comn. Ave. to Chevy Chase Circle; turn right ow Western Ave. to Tennyson St.; right ow Tennysom to 31st Place. HROCKMORTO DISTRICT 6092