Evening Star Newspaper, November 30, 1935, Page 21

REAL ESTATE!. , SOUTHEAST REALTY S v \, A ? PARLEY PLANNED “Miniature National” Con- vention tv Be Held in Atlanta Soon. Drawing on the whole national real estate experience for their program, realtors of seven southeast States, Georgia, Alabama, North and South Carolina, Tennessee, Mississippi and Plorida, ere going to Atlanta Decem- ber 5 and 6 for their own “miniature national” convention, the first South- east regional convention of realtors. The convention is held under a plan expected to be carried out in every section of the country. Joint planners are the National Association of Real Estate Boards, State real estate associations of the seven States and the host real estate board. Speakers will be top men, nationally, in every branch of the business. They are drawn for the Southeast convention from 15 States, way from New Jersey to Texas. Other coming regional conventions realtors tentatively scheduled under the new plan: South Central regional convention (8 States) at Tulsa, February 12 and 13; Northwest regional conveniion (5 States) at Seattle in March, North Central regional convention (6 States) April, Great Lakes regional convention (5 States) May, New England regional convention (6 States) September, Central Atlantic regional convention (7 States), Southwest regional con- vention (4 States) October. Headed by Walter S. Schmidt, Cin- cinnati national president, who will discuss national issues now a matter of direct importance to the individual realtor in his every-day business, leaders in every specialized field of real estate will open discussions at the Southeast regional convention. To Tell of Florida Program. Walter W. Rose, Orlanco, State Senator, national realtor presiden elect, will describe Florida's remark- able program for tax relief for real estate. The association’s National Committee on Real Estate Taxation all the | of | Md, from Comdr. F. P. Williams, builder. The house contains seven rooms and two baths. THE EVENING STAR, WASHINGTON, will hold an inter-State discussion on | practical tax action, with real estate owners of the region and all other interested groups invited. With R. B. hitaker, Wis., chairman-elect of division, N. A. R. E. B, presiding. Guy S. Greene, Detroit, division chairman, will t on 1935 business methods which are proving profitable. Gilmer Richardson, Knoxville, Tenn., will speak on “Effective Sales Methods for the Present Market.” Frederick M. Babcock, M. A. L, chief, underwriting section, F. H. A., will discuss the significance of the mortgage risk rating plan of F. H. A, already adopted by many private firms. Harry E. Gilbert, Baltimore, new president of the American In- stitute of Real Estate Appraisers, will open an appraisal forum. Edward G. Hacker, Lansing, president-elect of the Institute Real Estate Management, in chair. Harry A. Taylor, East Orange, N. J., member of the advisory com- mittee set up by New Jersey's State | Banking and Insurance Commission to conserve real estate of closed v of banks, etc., will talk on the effective | method there at work for manage- ment of some 3,000 properties in liquidation. Ervin Jackson, Birmingham, South- east manager for the Prudential Life | Insurance Co. will tell how that company is restoring its real estate holdings to a maximum of profitable operation, Mortgage Forum. Robert Jemison, jr., Birmingham, Ala., past president of the association and State director of Housing Administration? will address a mortgage forum on “The Place of the Individual Mortgage Broker in the Federal Government's Financial Program.” With Charles S. Wanless, Spring- fleld, Ill, vice chairman-elect of N. A. R. E. B.'s home builders’ division, in the chair. James Harold Hawkins of McCall's Magazine, New York, will outline a plan under which the “Home of the Month” will be de- scribed in detail in that magazine monthly, beginning with its Apri issue. The “Home of the Mont New Detached Brick Chevy Chase, D. Six rooms, O spacious front and rear porches, steel casement windows, stone fireplace, slate panelled living room (papered if preferred) BRICK GARAGE. 5601 30th STREET-N.W. (Corner of One square from bus transporta- tion, only a short walk from public school. Shannon & Luchs Co. AGENTS LOOK FOR Mich,, the | the Federal | Kenosha, | the brokers | Mr. and Mrs. at 3105 Rittenk fice of Phillips & Canby. and two baths. Leslie Altman recently acquired this residence, located use street. from Thomas F. Jones, builder, through the of- ‘The home is Colonial in design, with eight rooms —Star Staff Photo. New Home in Battery Park Sold Mr. and Mrs. W. G. Bond recently purchased this dwelling, located at 105 Del Ray street, Battery Park, The transaction was made through the office of the Goss Realty Co. —Star Staff Photo, SIX HOMES COMPLETED IN GUILFORD PROJECT Houses in New Development in Virginia Contain Five Rooms, Bath and Garage. Six new homes have been occupied in Guilford, new low-cost-housing community, which is being built along ‘Fn\nronm drive in Virginia, about 12 miles from Washington, by the Guil- ford Land Co. Houses in the new development con- tain five rooms, bath and built-in ga- rage. They are brick with stone trim- ming, and prices range from $4.500 to $4.950. Features incorporated in the | homes include electric refrigeration, gas range, hot-water heat and hard- wood floors. The houses are located on lots 100 feet by 200 feet in size. Guilford may be reached by driv- | ing over Arlington Memorial Bridge {to the new gateway to Arlington Cemetery, thence left along Arlington Ridge to Russell road. Right on Rus- | sell road to the Masonic Temple in Alexandria, then follows signs 3!, miles along Franconia drive to the new community, HOW TO MIX PAINTS Red, Yellow and Blue Foundation for All Colors. The three primary colors—red, vel- low and blue—can be intermixed to realtor-built simultaneously over the | country from architectural plans | (preliminary plans) selected by the division. The “House” will be se- lected on the basis of livability. I. W. Duggan, director of agncul-‘ tural economics, division of cotton, { A. A. A, will address forum, speaking With farm land values relation and income. | Institute of Farm Brokers and Mana- gers, will lead the forum. William Ellery Sweet, former Gover- nor of Colorado, representing the Re- cettlement Administration, will de- scribe both the urban and the rural resettlement program of the Federal Government. | To Outline New Fields, | Herbert U. Nelson, Chicago, execu- tive secretary of the National Associa- tion, will outline new fields of busi- ness for the realtor now being opened, | and with President Schmidt will take | part in a luncheon round table for ! real estate board presidents and secre- taries. Harry Grant Atkinson, Chi- cago, director of divisional activities | C. IL BURNER, roof, flagstone walk, McKinley) THE HOME THAT INSURES WITH fUM;o'? mOBEHH GAS 2RLIAN Washington Gas Light Co. @ &> Georgetown Gas Light Co. | will be dctual homes currently bcmr; for N. A. R. E. B, will talk on ap- praising the small home. Keynoting the whole convention wi be reports of work which the 57 real estate boards of ‘the Southeast region | are doing in safeguarding real estate | and real estate ownership, Alfred Wagg, Palm Beach, Fla,, national vice a farm lands | president for the Southeast region, an- | to | nounces, as chairman of the conven- | tion Program Committee. A trop Charles F. C. Ladd, San Antonio, | 2nd cash awards will be made for the | Tex., president of N. A. R. E. Bs best five-minute reports on these safe- | Included are ac- | | tion for tax reduction, for orderly city guarding activities. planning and development like. and t A BEAUTIFUL 7-ROOM PETWORTH HOME GREATLY REDUCED 4425 Iowa Ave. N.W. 7 Rooms. Tile Bath. ® Brick Gar Nicely reconditioned; to transportation schools and churc Open Today 10 A. M. to 6 P. M. L.E BREUNINGER & SONS Investment Bldg. NA. 2040 close stores, es. produce all other colors as well as a neutral gray. In mixing paint, ho ever, always use similar types—en- amel with enamel, lacquer with lacquer, etc. White is probably one of the most extensively used colors for exterior ! painting. It is always in good taste, | no matter what the size or archi- | tecture of the house. Individuality may be secured through trim colors. il | H. hy D. C., SATURDAY, NOVEMBER 30, 1935. REAL EST F. H. A RESTATES POLICY ON LOANS Only Properties Economi- cally Sound Are Insured- for Mortgage Loans. The Federal Housing Administration has found it necessary to restate the policy that only those properties which are economically sound are insurable for a mortgage loan under the pro- visions of the national housing act. “This is for the protection of the lender, the Government and the bor- rower,” according to Administrator Stewart McDonald. “The lending agency is in most instances thoroughly acquainted with the provisions of the housing act and the rules and regulations under which it is administered, but occa- sionally cases come up in which some property owner protests the reasons for the rejection of an application for an insured mortgage. Acts as Insuring Agency. ning that the Government is not putting out the money, but is acting in the role of an insuring agency; that is, it insures the mortgage and, in case of default, will have to re- lieve the lender and take over the property. Naturally, the Government does not wish to do this, since the aim of the legislation is to make it more desirable and easier for a per- son to own his home. “The first financial responsibility is that of the lending agency. care and judgment as banking practice. ing Administration would expect them to do so because the Government is insuring the transaction. “The owner of a property which would obviously fail to satisfy or Would only cause himself and others interested unnecessary embarrass- ment and trouble, even should he be able to arrange the necessary refi- nancing. Banks Make Loans. “So it is a good thing to bear the following in mind: “Congress, in passing the law. laid down the requirements that mortgage loans were insurable by the Federal Housing Administration only on prop- erty which might be considered ‘eco- nomically sound.’ These mortgage loans are made not by the Govern- ment, but by private banks and carry to the lender (in other words, to the thousands of individuals whose sav- ings are on deposit in those banks) a Government guarantee against loss. Mortgage loans, written as they are under the plan for a period of as long as 20 years, must be made only on property which it is believed will sus- tain sufficient value from year to year to provide adequate security for the loan. “The administration is permitted to consider properties solely in terms of their values as places of residence. | It that were not so it might happen | that the Government would some day find itself in the position of owner of most of the homes in every city of the country. And this law was based on the idea of helping individual citi- “It should be stated at the begin- | ‘These | would be expected to exercise the same | in ordinary | The Federal Hous-; justify one of the insured mortgages | ATE, * B-S§ Real Estate Levy At Market Value Given Indorsement SERIES OF HOME SHOWS WILL OPEN Baltimore Exhibit First of Nation-Wide Projects Backed by F. H. A. Special Dispatch to The Star. BALTIMORE, November 30.—The first of a series of National Home Shows, planned for country-wide pro- duction and backed by the Federal Housing Administration, will be held | here during the week of January 4-11. The show will be held at the 5th Regiment Armory and will be under | direct supervision of the Real Estate | Board, with which the Government is | co-operating. Calied Tdeal for Show. According to C. Philip Pitt tary of the board, representati Special Dispatch to The Star, BALTIMORE, November 30.—A recommendation that real estate be assessed on its current market value and that both tangible and intangible property be subject to the same tax rate, is included in a resolution recently indorsed by a number of civic organiza- tions and backed by the Real Estate Board. The resolution further advo- cated the repeal of the delin- quent tax ordinance by the City Council, removing the “oppressive tax penalties.”” It was announced that the organizations would co- operate with any individuals or associations which were interest- ed in court action to test the legality of the ordinance. “AMERICAN HOMES” ATTRACT THRONGS Many Persons Return for §econd Visit to Examine Many Details. Among the hundreds of visitors to | the General Electric “New American Home” in Rollingwood, are many who | have returned for a second visit to examine at leisure the many details of design, plan and equipment that are revealed in this home. | Built by Wavery Taylor, Inc., in co-| operation with the General Electric Co. and furnished by Woodward & Lothrop, the “New American Home” contains many of the most modern improvements in home building today. Of special interest, because of its many advantages, is the air-con- ditioned heating system. There are no radiators, except in the kitchen and bath rooms, all other rooms are supplied with circulated warm air by means of a concealed system of ducts and inconspicuous grilles. All air so | circulated is first fiitered to remove ]all particles of dust and pollen, it is | then warmed by passing over s coils and finally humidified b; automatically controlled spray. regu- lated by a humidstat in a central lo- cation near the thermostat. To reach the home, drive out Six- teenth street to Sherrill drive (oppo- site Walter Reed Hospital), thence to Beach drive and turn rj 2 miles to sign at Leland street, or drive out Connecticut avenue to East Woodbine street, turn right to Brookev left one block to Leland st right on Leland !, mile to American Home” sign. secre- ves of o 1428 JUNIP Overlooking R hor n ho floo mode e—3 ed third recreation garage 1UML Open Daily 9AM. to 9P.M. |the F. H. A. have visited the armory recently and have pronounced it an | ideal spot for a show. They plan to send $75,000 worth of equipment here, Mr. Pitt said. | F. H. A. headquarters m Washing- ton announced the show “is scheduled | to be the most elaborate housing show ever held in the Nation.” A feature will be a complete fi room cottage to be built on the armor: floor under direction of the Building Committee of the Real Estate Board. Old Charm,and Grace. “The exterior of the cottage,” Mr. Pitt said, Il embody all the old charm and grace of typical Maryland architecture. The interior will be furnished and designed in the most modern manner. The cottage will be ‘landscaped,’ out the finest traditio nd exterior beau- ous last-minute in- ns will be included.” The F. H. A. plans to furnish edu- cational and display equipme cluding two “talki ing miniature model houses an ri equipped with broadcasting apparatus to explain F. H. A. operati WILL TRADE Another New Brick Colonial in Shepherd Park ER STREET ock Creek Park bedrooms and 3 beautiful 1l lava pore Built by Biron Bros. DI. 3100 zens to own their homes, not live in ( them as wards of the Government.” S Carpet Sweeper Change. Brush of a new carpet sweeper is | near the front (for close-to-wall sweeping), rotates continuously in one attractive | direction. Hence it has but one dust | pan, removable from the top. he 1814 24th St. N.W. A Town House of Distinction In the Exclusive chusetts Avenue 11 ROOMS. 4 BATHS SPACIOUS IN PLAN MODERN THROUGH- ouT LARGE FRIGIDAIRE GAS HEAT An opportunity to acquire one of the finest in-town homes on today’s market at a figure decidedly reasonable for this section and far under its original price. Massa- Section OPEN SUNDAY FOR INSPECTION 7{§& “REAL AL-AMER, Refy ESTATORS™ JOHN POOLE PRES. | If You Want a Six=Bedroom House in the Fashionable Chevy Chase Section--Take Your Pick! Both Are Completely Modermzed and Renovized Your Choice 3745 HUNTINGTON ST. N.W. Open No. 5 EAST MELROSE STREET Chevy Chase, D. This comfortable, gpacious, well-buil entertaining and is located It cnntllns six bedrooms. two batl ge. You'll agree it is a grand Oil burner heat. C. t house is ideal for Today in a community of fine homes. hs and a two-car house at the price bath rooms and Refrigeration. Chevy Chase, Md. Located on a_ beautifully shaded lot in a d!h‘,h‘ful home s _complete With siX All new equipment in heat. Gas water heater. lhls baths. kitcl oil EITHER OF THESE TWO HOMES CAN BE BOUGHT FOR A MODEST CASH PAYMENT AND BALANCE FINANCED ON ONE TRUST WITH INTEREST AT 5Y,9% — MONTHLY PAYMENTS LESS THAN RENT — UNTIL PAID. See Them Saturday or Sunday . . . They Won't Last Long at This Price 15 Sw. J. WESLEY BUCHANAN, Inc. MEt. 1143 Six Rooms, Two Bai‘hs, Built-in Caraze RECREATION ROOM-FURRED WALLS-WEATHER-STRIPPED OUR SAMPLE HOUSE—623 POWHAT the Ammmmd HARRY WARDMAN 1512 K St. AN PLACE N.W. Out 7th St. to 6000 Block—Open Daily, 9 to 9 INC. Dist. 3830 Provides the Delightful Sylvan This Distinguished Home in Chevy This is one of the most beautiful moderately priced new homes in its construction. Its equipment and appointments characterize home: tinted tile baths. knotty pine, with Tile-Tex floor. Co. gas heat. Automatic storage water heater. and insulated walls. Large side porch with fl floor. Built-on garage. OPEN TODAY AND DAILY Drive out Connecticut Ave. to Nebraska Ave., turn right on Ave, and straight ahead on Utah Ave. to Van Hazen St. an WAPLE & JAMES, | 1224 14th st. N.W. 3264 VAN HAZEN ST. A charming brick Colonial in a delightful wooded setting. Only the finest materials were used in living room with immense fireplace, well proportioned dining room. Three lovely bedrooms and two Beautiful recreation room finis American Radiator Members Washington Real Estate Board Setting for Chase, D. C. the entire Chevy Chase area. s much higher in price. Large shed in Built by C. R. MATHENY Specialist in Finer Home Construction Furred lagstone Nebraska Ave. to Utah d turn right to homes. NC. DI. 3347