Evening Star Newspaper, September 19, 1936, Page 33

REAL ESTATE. MORTGAGE CREDIT || Nearby Virginia Home Sold AGAIN INCREASES $114,626,000 in July Ad- vances Reported by Loan Associations. For the fourth successive month the savings, building and loan associations of the country in July made over $100,000,000 available for mortgage credit to home owners, the United States Building and Loan League re- ported today. July advances by these institutions registered a new high for 1936, being estimated on the basis of reporting associations at $114,626,000 to some 52,500 different borrowers. The increase over June was 4.03 per cent. Of all purposes, the greatest per- eentage of increase was shown in the credit granted for the construction of new homes, being 14.7 per cent greater in July than in June, and amounting to $32,421,000, for the building of 10,- 000 dwellings. Morton Bodfish, executive vice Ppresident of the league, suggested that the loan business of the associations is beginning to gather momentum from itself, one builder or buyer of & new home spreading his enthusiasm about new property ownership and the monthly repayment method of financing to his neighbors and friends. Buy “When Time Is Ripe.” “All of the attempts to force a re- vival in construction and real estate transfers by lowered rates, by super- abundance of credit, or by just plain talking people into it proved unsuc- cessful as long as there did not exist this justified interest in proprietor ship and ownership which is really being felt today,” he said. “The past few months’ performance has demon- strated once again that people buy and build houses when the time is ripe, according to their own concep- tion of things, and not for any other Teason.” Loans for the purchase of existing homes continue to play an increasing part in the total credit advanced by savings, building and loan associations, he emphasized. They totaled $34,500,~ 000 in July as contrasted with $32,- 000,000 in June. Modernization and Tepair loans also, continued their up- trend from June to July, showing an increase of 7.2 per cent and a total volume of $8307,000. IL was emphasized that very little of this modernization credit has been ad- vanced under title 1 of the housing act, where the Government guaran- tees losses to the creditor up to 10 per cent of the total amount of his modernization loan. Accustomed to making modernization loans and to Judge risks for many decades, the as- sociations do not look upon such ad- ditional guarantees as necessary for their safety. Monthly Trend Hailed. Conn;mausly since April, the monthly loan reports from the savings end loan business have shown de- creases in the amount of disburse- ments for the refinancing of older mortgage obligations owed to other types of lenders. This trend is hailed far and wide by the industry since it demonstrates that the total existing debt on homes in this country is getting into a more settled status, with borrowers becoming increasingly satis- fled with their credit arrangements. An owner satisfied with his credit arrangements is the desirable pro- prietor because he is paying off his debt. Bodfish stated that never be- fore in the course of any depression has such a large percentage of the existing home owner debt been traus- ferred to the monthly amortization plan originated and continually used by the savings and loan business. A breakdown of the July lendirg business by the associations, accord- ing to purposes for which the loans were granted follows: Purpose of Loans gew construction Est. July Loans by AllAwce 10 U. 8. epair and mode: lome purchase Refinancing Other purposes - $114.6:6.000 House Setting Essential. The proper setting is essential to eomplete the beauty of a house. In planning & house careful thought must be given to the grounds as well. ‘The result will have a more satisfac- tory, well-balanced effect if the land- scaping can be worked out at the same time the house is being built. New home at 4609 Nineteenth street, Wave’yl'g/ Hills, Va., sold recently by the office of Dick Bassett to Mr. and Mrs. Raymond Watson. The structure was built by Robert F. Jones.. ~—Star Staff Photo, Bedtime Stories Two Homeless Ones. BY THORNTON W. BURGESS. e had to believe it. The hollow in with me! Well, you are the one that will lose, not I. I'm golng straight back to that old home of mine and I can get there before you can.” “Go right ahead,” retorted Chat- terer. “Go right ahead. Much good 1t will do you.” Spooky glared in round-eyed suse picion. “What do you mean?” he demanded. “Go up there and see.” barked Chatterer. M A sudden suspicion came to 8pooky. “Has that tree been cut, t00?” he de- manded. “Go up there and see,” retorted Chatterer. “I believe you knew all the time that it was going to be cut and that is why you were so willing to trade with me.” “I knew no more about than you knew about this tree,” retorted Spooky. “Well, I guess it was an even trade after all. You thought you had outsmarted me and I thought I had outsmarted you. Too bad; too bad. Those were good homes, both of them. Too bad; too bad. However, it dosen't make so much difference to me as it might. I knew two or three places where I could be very comfortable. How about you?” Chatterer didn't reply. You see, he ‘was beginning to realize what a really serious thing had happened. He was much worse off than Spooky. All Spooky had to do was to find another good shelter, another place that he could call home, And that wouldn't be too difficult. You see, being able to fly, Spooky could get around rapid- ly and easily. It really wouldn't make’ very much difference to him where he lived. He could start out to hunt from one place as well as another, It was all very different with Chat- terer. Chatterer knew. that he, too, could find shelter. There were unoc- cupied houses of which he knew. The trouble was that none was near where he had been living and all his food supply for the whole Winter was over close by where that tree had stood. That was a long way from the near- est place that would do for & home, and this wasea very serious matter, How could he travel that long dis- tance every day, especially when snow became deep and storms swept through the Green Forest? Do you wonder that Chatterer was in despair! (Copyright, 1936.) 3 — TAX DECREASE SHOWN A 36 per cent reduction in farm Teal estate taxes per acre in the pe- riod from 1929 to 1935, is shown in 8 report from the United States Bu- reau of Agricultural Economics. The tax last year averaged about 37 cents an acre the country over, although it varied widely in different sections. This compared with 58 cents in 1929 when the rate was the highest in the history of the country. THE EVENING STAR, WASHINGTON, D. €, SATURDAY, SEPTEMBER 19, 1936.° SALES TOTAL $1,000,000 Philadelphia Firm Reaches Mark || in Eight Months. Splendid Opportunity for House Salesman ~—experienced in dealing with high-class clientele. State age and ‘experience in answering. Address Box 327-G Star Office REAL ESTATE. ROCK CREEK HILLS 7717 17th St. N.W. $1 6,650—“,000 Cash, 52% Interest Monthly payments $81. Across street from Rock Creek Park, 88 ft. frontage, library, lavatory, unfinished room over garage, 3 bed rooms (one 16x17 ft.), 2 baths, oil burner, partly finished recreation room. Less than 3 years old. Owner, Georgia 5245. The saddest folk are those who roam Because, alas, they have no home. —Old Mother Nature. HAT to do? Chatterer the Red Squirrel really didn't know. He had not yet re- covered sufficiently from the shock of losing his home to do any real thinking. It was Winter T HE DODGED AROUND THE TRUNK OF THE TREE. and he had no home. The tree in which he had had such a comfortable and snug home had just been cut down. He couldn't believe it, yet which he had had his warm bed had been split open. Farmer Brown's boy had taken that part of the tree and carefully put it one side. You see, he thought that perhaps whoever had been living there might take that nest material to & new home some- Where, Late that afternoon, Chatterer re- membered his old home, the one he had traded for this one that had been destroyed. He decided that he would go over there. It might be that Spooky the Screech Owl was no longer living there. In that case he, Chatterer, would have a place to spend the night. When he reached the place where that tree had stood Chatterer had another shock. That tree had been cut too. Yes, sir, that tree had been cut. There was no home to go to there. Chatterer happened to giance up just in time to make a quick jump to one side and escape sharp claws that were reaching for him. He dodged around the trunk of the tree. Spooky the Screech Owl glared at him from a neighboring tree. It was more than a glare of hunger; it was | H Spooky snapped It made a most unpleasant a glare of anger. his bill. sound. “8o!” he hissed. “You knew what was going to happen, and that is why you were so anxious to trade homes YOU CAN BUILD Now AT A GREAT SAVING b, t This Modern Williamsburg Colonial Built Complete on Your Lot o With Full Basement o Hot-Water Heat o Hardwood Floors @ Tiled Bath ror $9,419 Monthly Payments as Low as $37.50 Our Service to Builders Is Nationally Known STANDARD HOMES COMPANY Colorado Bldg. Washington, D. C. gutters and downspouts. ", nowm N are three real bed rooms, two baths. Visit this home today or v/ HENRY J. liresenting a New Home on a Hilltop in WESTMORELAND HILLS, MD. NO. 10 WORTHINGTON DRIVE THE view from this lovely new center-hall Colonial home is only part of its many unusual features . . . First floor comprises large living room with Colonial fireplace; gracious dining room; modern, efficient gas kitchen and built-in cabinets; breakfast room. Large porch at back of home . . . Upstairs there Folding stairs lead to attic. There’s an open deck from the second floor hall . . . Basement club room has three windows above the ground; floor covered in block asphalt tile; log fireplace. Built-in garage . . . Plenty of closets, recessed radiation, venetian blinds, thoroughly insulated; copper CONNOR, Owners-Builders Sunday, you'll be surprised at its low price. IRECTIONS: Drive out Mass. Ave, to Westmoreland 2 gm.ngwmmgmauu.,muumum. t) turn left into Worthington Drive to No. 10. Y INC. 4330 43rd Street N.W. Furnished by Hulchison's, Inc.—Draperies by John Ligon. @ $12,500 One Other House $10,750 Open Daily and Sunday vs s Drive out Wisconsin Ave. to Yuma St. (Immaculata Seminary); turn left i se. HEALTH HOME dlocks to hou: BUILT BY MONROE WARREN EARLE M. DAWSON—SALES EMERSON 5744 FIVE NEW DETACHED HOMES IN A LOVELY WOODLAND SETTING . 4 SOLD—1 LEFT Stone-front Corner at $10,750 Open Daily to 9 P.M. Exhibit House Six rooms, 2 full baths, 21-ft. fiv- 3100 Worthington St. N.W. ing room, jocket oil burner with To reach: Out Conn, Ave, to Ne- year-around hook-wp, built-in ga- braska, turn right on_Nebraska 10 rage, finished attic. A custom- Utah, left on Utah to 31st St., right i - on st ST &0 Gy atriington: | Civp built house, well planned, wonder fully attractive. Wm. R. Thorowgood 2024 R. I. Ave. N.E. DEc. 0317 nem QEinq e BROOKMONT, MD. | m?uAmwu-w...mm 8Six Rooms—Rear Flagstone Terrace « .« Tiled Bath with Shower . .. Buii-in Singie.car Garage.Overhead Doors Built-in Single-car Gara; & Walls Rockwool Insulation in oo Winter and Summer Air Condltlomngb. e Kitchen Cabinets . . . Standard Plumbing Fixtures . . . Chromium-plated Fittings ... Copper Water Piping . . . Copper Screens . .. Tw fi‘em %’“r‘é’fi.‘} TFirepl 0 1 -bul places . . . Coo?er Flashings . . . Hardwood Floors . . . Modern Lighting Fixtures . . . Automatic Water Heater . . . Automatic Oil Burner. .. Paved Driveway . . . Stationary Laundry Tubs ... %E&rglg!lon#&mp. with Open Fireplace... able s wmm&.tmdmemnmuummm... Beautiful Landscaped Lot Fenestra Steel Sash $8,250 L. CLA Emerson 7019 CHARLES Adoms 7731 We wish there was space here to record the hundreds of favorable comments we have heard on this beautiful example of EARLY AMERICAN ARCHITECTURE, 416 Highland Drive OPEN FROM TEN TO SIX EVERY DAY which you are cordially invited to inspect. It is just another example of the practice invariably followed in Kenwood of fit- ting the home to the building site, which is necessary in order to get the best effect. There is a site in Kenwood that would be a perfect setting for the home you have in mind. i Slx omZ C. H. JERMAN—S. H. MUMFORD—SALES Kemmedy-Chanbefn Developmenf C KENWOOD, Chevy Chase, Md. Wi 4425 Drive out Wisconsin or Commecticut Avemue to Bradley Leme, west on Brediey Leme to Kewwood, er out Dorset Avenue, and im both cases arrous placed at the entrance to Kenwood will direct you to the house. 8.8 ANOTHER 0501070\ ./8\. 78\ 78\ 1 New Wardman Group of Low-Priced Houses s Baths—Recreation Room —Note the Construction— All brick, furred walls, bronze screens, hardwood trim and floors, weatherstripped and heated recreation room . $7.250 and $7.450 After Down Payment, $52.50 Per Month Pays Interest, Principal, Taxes and In- surance—No Commission or Renewals Sample House Open 9 to 9 503 POWHATAN PL. N.W. Out 7th St. N.W. to 6000 Block; Turn Right to House Schools, public, parochial and Jr. high, are within 3 blocks. A 20-acre playground keeps the HARRY WARDMAN, INC. ddies off the street.