Evening Star Newspaper, March 27, 1937, Page 29

REAL ESTATE. - BUILDING IMPETUS OF F.H.A. HALLED Small Homes Boost Held Intelligent Aid to Industry. The Federal Housing Administration during the last two years has given the small homes building movement the most intelligent direction and the greatest impetus which it has ever had, according to Dr. Wilson Compton of the National Lumber Manufactur~ ers’ Association. There has been no lack of willng and competent build- ers, says Dr. Compton, but the sound basis for a Nation-wide movement for low-cost homes has been lacking. The F. H. A. has largely supplied this. “In the first place, it has largely converted the country to the superior soundness, economy and security of the single, amortized mortgage, Dr. Compton continued. “Second, its mortgage insurance plan has facilitated lower mortgage interest rates generally. “Third, it has made considerable progress toward popularizing the idea of inspected construction. . “Fourth, it has, through its tech- nical investigations and economic sur- veys. important principles of economy in design of small homes from which, over a period of years, home builders and home owners should largely benefit Overpricing Combated. “The history of low-cost housing, as fs well known, has been full of shoe- string operations, jerry building, spec- ulation, illogical financing. Hence, in many localities, the effort to sell to people who could afford only $4,000 houses houses at $6,000 or higher, with | the result often of the dismal cycle of foreclosures or of unhappy family le to keep homes which had cost too much. “A year ago the Federal Housing Administration, through its technical division, published a pamphlet on the principles of designing small homes. These principles, if followed, were stated to mean large economies in cost, and accompanying them were attractive designs of small homes ranging from four to six rooms, which the Federal Housing Administration declared, under average conditions, could be built at costs ranging be- tween $2,000 and $3,000, not includ- ing lot. publication at first produced n cont than building. Some critics said 1t can be done; more said it can't “The lumber industry concluded to find out. So it undertook to build the three basic F. H. A. designed houses at Bethesda, a Washington suburb. We started this primarily for our own information. We kept exact record of costs results. 300 Offers to Purchase. “When it became apparent that, gtarting with cash or credit and de- sign and specifications determined for economy, we could built these three houses at a total cost less than the Federal Housing Administration esti- mate, and do it in a community where building costs are higher than the national average, we found that what had been started as a simple labora- tory experiment in small-home build- ing had become somewhat of a sen- | sation. Without solicitation we had over 300 requests to buy these three 1 homes “Since this demonstration in the National Capital had had such strik- ing results, we thought that the benefits would be largely multiplied if nstrations were under- communities. We con=- al Housing Adminis- ber of building ma- taken in othe sulted the F tration and a n rs a , in co-operation with the National Lumber Dealers’ Associa- tion, we undertook the Nation-wide effort to secure the building of dem- mall homes. We first antly of such demon- a hundred key cities. ted we aim at 500. It in was decil ‘Six weeks later more than 2,000 lumber dealers and builders in 48 States have, by written application, | declared their intention to build over 4,500 of these demonstration small homes in thousands of communities. To this number hundreds are being‘ added each week. We are supplying | each builder not only with the record of our experience with the first three | demonstration economy homes in Be- thesda, but also with the complete end exact specifications for founda- tions, structure, furnishing, wiring, plumbing, heating and landscaping. These specifications represent the best judgment of these industries for econ~ omy consistent with good quality of materials and sound construction. | “The Federal Housing Administra- | tion, through its technical, economic | and educational services during the | past few years, has made this small homes movement possible. Heretofore the best intelligence of the building industry and the building professions has been directed to the houses in || the higher price ranges. But the own- ership of homes costing more than $5,000 is not now accessible to more || than 30 or 40 per cent of our people. The unique feature of the present movement is that it is confined ex- clusively to the less than $5,000 type of homes, a field which heretofore has been blissfully ignored by the building professions. With the aid of Federal Housing Administration financing, mortgage insurance and educational facilities, it promises to eonvert into Nation-wide realization the idea of low-priced individual homes. Not only so, but it is doing this within the four corners of the building industry as now constituted. It secures the benefits of superior design and low-cost financing and in many communities the economies of mass production. It may eventually reach the entire group of the people ‘whose incomes, though comparatively #small, are reasonably dependable. It does not require Government subsidy.” New, Modern, Detached Brick Homes Distinetive Location University Park, M University driveway and Monzoe t., Rushe Td., between University drive: way and Cecil ave. Large lots and wooded lots: up _neighborhood; schools and bus; moderate prices and terms to Suit. Your equity in other property considered. s Open Daily vd. thru Hyattso : HUSLIQUGHEL vonroe St.” bearing 1/t PO o Monroe’ to Universiti Drive and Homes, H. M. REINHART OWNER-BUILDER Greenwood 1072 We will build anywhere to plans and help you finnce. built- convenient to your own millions of | We published the | d to make it a thousand | Apartment building, with stores on the first flo pleted by the Reliable Construction & Realty Co. managed by Lee D. Latimer Co. THE EVENING STAR, WASHINGTON, Small Apartment Building Completed or, located at 113 Kennedy street, recently com- The building, which contains 13 apartments, is —Star Staff Photo. BY ELIZABETH GORDON AND DOROTHY DUCAS. AVE you had the urge to build | a rumpus room in your base- | ment or attic, but been re- strained because yocu were afraid to let yourself go? Recreation rooms that provide a real outlet for the personality of its users are not only fun to build but fun to behold. They should be places where activities not suited for the other part of the house can be enjoyed to their fullest. If marking out games on the | floor seem like fun to your family then that it what you should have. run to doing their own wall decora- | tions you may have thought all was lost. For amateur’s luck with water or oil paints is noticeably bad, espe- cially when the pictures are doomed to remain with you for months if not years. Be of good cheer. A manufacturer of wood fiber wallboard, sensing the submerged desires of all of us to draw pictures on the wall, has made an electric stylus pencil which may be used in the manner of ordinary pencils but which leaves, instead of lead, a burnt trail when used on wood fibers. Many more of us can draw credible line pictures than can manipulate colored drawing materials. And even more of us can do pleasing geometric patterns by the simple dividing of | | | | | separate entrance, and insulated. WASHINGTON'S BIGGEST VALUE TO REACH—Out 16th St. to Sheridan St. N.W., right to 14th St. one short block to homes. But—if your family’s propensities | $8,950 up SORLTYING space. So this new electric pencil offers not only a creative outlet for those of us with wood fiber walls, but a decorative device as well, thereby killing the proverbial two birds with one stone. The pencil has an electric heating element which keeps a sharp conical point heated to a high temperature. This hot point will burn a groove in whatever it touches, the depth of the groove varying according to the speed with which it is drawn across the surface. The desired design can first be laid out on paper to full size, what is known as a pounce along the lines of the design perforated paper or stencil can now be laid over the surface to be deco: rated, and by dusting either lamp- black or charcoal over the paper, the leaving the design on the under surface. Care should be-taken not to dust too much lampblack or charcoal, as this would cause a smear. The pencil produces an attractive dark brown line which combines very nicely with the beige or the gray of the wood fiber board. It can be used to make panels, borders” or friezes on walls {and ceilings. It's possibilities are so | numerous for householders with im- | agination that it would be almost | worth while to build a room with —4 ew 4-Bédroom Home Just Off 16th St. 6131 14th St. N.W. This spacious home has 8 rooms and 3 baths. Recreation room with paneling, fireplace and ‘Weather-stripped, furred Built-in garage. OPEN DAILY and SUNDAY Realtor 1515 K St. N. A Practical Ashton H cate the same house today. right to house. 3152 N. Wilson Bivd. in An Outstanding Community | Only 15 Minutes From Downtown 440 North Monroe Street Beside the conventional things usually found in a new home, this all-brick house is situated on a wooded, corner lot, 60x116. has Curtis, Silentite sash, automatic heat, modern kitchen, etc. Its price is far under the amount which would be required to dupli- MOTOR ROUTE: Over Xey or Memorial Bri; and out North Wilson Bivd. to North Kenmore, left to Pershing Drive, right to North Monroe, Only $8,250, Terms F. E. Westenberger Owner—Builder Phone Clarendon 1793 New Home hts, Va. It Clarendon, Va. dust will penetrate the perforations, | walls of this material just for the scope they offer. The Pencil costs only $1. * x K X through the Winter at having to go out on your porch or terrace twice a day to bring in the mail, you will wel- come the news of a built-in mail box which can be fitted right into the wall of your front door which will bring the mail right into your house. It is built on the principal of the WOODSIDE then the paper perforated by running | wheel | The | | | I RRRE R | s SRR homes. il HARRY PORETSKY, DEVELOPERS | ) 2 1224 14th St. NW. 9521 Ga. Ave. the needs of your family, m Grafton Street, thi Wiscons through west on Bradle; F YOU have been shuddering all | [ S R PR ReR e W R PR R N R R R ] 4-Bedroom Home 908 Columba Boulevard ¢Turn right at our office, 9521 Georgia Ave. Lot 65 feet wide. Washington’s finest suburban development of new 40 homes being built. Will build to suit you, if our model homes are not just what you have in mind. Model Homes Open 9 A.M. to 9 P.M. Daily or Wisconsin_ Aven Ve D. C, SATURDAY, HOME LOAN PAPER SALE HITS 15 PCT. Increased Marketability of Investments Reported by F. H. A. Bubstantial progress toward the fulfillment of one of the principal aims of the Insured Mortgage Sys- tem—increasing the marketability of mortgage investment held by lending agencies—is reported by the Federal Housing Administration in its third annual report. Ready saleability of this new type of investment security is demonstrated by the fact that approximately 15 per cent of all insured loans have been sold by the originating institutions to other approved agencies. Transac- tions total more than $60,000,000. Another new development which increases the availability of home- mortgage money is the growing will- ingness of mortgage-lending institu- tions to make loans outside their home territories. Many transactions of this nature have been noted by the Federal Housing Administration, par- ticularly during the last year, the re- port shows. Sales of mortgages by one insti- tution to another approved institution are made practicable, first, by the Nation-wide property standards, valua= tion and risk-rating techniques es- tablished by the Federal Housing Administration, and, second, by the mail chute, of bronze castings, care- fully ground, filed and fitted. The care with which they are put together makes them weatherproof, an im- portant consideration if their outside Jocation is in an exposed place where rain or snow could beat upon the out- side of the chute. A galvanized iron chute goes through the wall, some of which are large enough to permit the passage of a new mail-order catalogue. ‘The inside door is of non-warping metal construction. These new mail boxes can be bought for prices rang- ing from $5 to $7. VILLAGE o NP RN RN R F‘!E@EIE MERELRERRERNRNRERERRRRER Houses in first block.) RN R RRIRT INC. nplNRNRIRRRIR] WAPLE & JAMES, Inc. DI. 3347 SH. 4455 TRERERERERERE ] meguisey - PSS Soon the cherry blossoms in Kenwood will be in their full glory and thousands of people will drive along the streets lined with these graceful trees. Few developers give consideration to the beauty, plan- ning, and landscaping of a community. Too often a desire for immediate gain is subordinated to the com- fort, charm, and convenience of those who buy. The esthetic appeal and environment of Kenwood you will find to be a joy forever. If one of the homes now under construction will fit you may select the deco- rations and interior finish of your home and establish yourself in time to start your Spring garden. ennedq-(hamber]in Deve]opme& Co KENWOOD OFFICE, KENNEDY DRIVE AND CHAMBERLIN AVE. Wisconsin 4425 To. reach_ Kenwood, drive out Connmecticut Avenue to Chevy Chase Circle, west o ut rough Somerset to Kenwood. in Avenue to Dorset Ave., west on Dorset Avenue or o ‘Somerset to Kenwood, or out Connecticut to Bradley Lane and ane to Kenwood. MARCH insurance feature, which increases the security of loans. The R. F. C. Mortgage Co., which has used its revolving fund of $10,- 000,000 to buy and sell insured mort=- gages covering nmew homes, has re- ported several large transactions in Federal Housing Administration mort- gages. In one recent transaction the company sold 390 mortgages valued at $1,798,205 to the controller of the State of New York at a price of 101, plus accrued interest. In purchasing insured mortgages for the various sinking and trust funds for wlich he was empowered to act, the controller bought all of the in- sured mortgages held by the R. F. C. Mortgage Co. in the State of New York. This and other similar trans- actions show the growing acceptance of the insured mortgage as a de- pendable type of investment security. Legislative and administrative pro- visions formulated during the last 27, 1937. Drastic Reduction Fashionable Kalorama Hits. 2140 Wyoming Ave. 15 rooms, 5 baths. Arranged in suites, bed room. dressing Beautifui landscaped House in perfect condition. Must seen to appreciated. Oven Sat. & Sunday 2 to 5:30 P.M. S. A. YOUNG Shoreham Bldg.—Na. 3383 ba i Mass. Ave. LO 925 I15th OVER 14 THOUSAND VISITORS A RECORD- BREAKING ATTENDANCE —high wooded p receive. LIVING ooOM oo Open Daily and Sunday 9AM. to9P.M. 401 23rd St. N.W. T A =N Three bedrooms and two baths on second floor bath over two-car built-in garage @ Spacious dining room @ Modern kitchen and breakfast overlooking garden at rear @ Floored attic Directions: St W REAL ESTATE. two years also make it possible for insuréd mortgages to be accepted as collateral for advances by Federal Home Loan Banks and Federal Re- rgquirements can only be properties. Eight well-planned rooms, done over like brand-new an probably buy it today. Tower Blig. @ Shower in basement e Simpson- serve Banks. Member banks of the Federal Reserve System may now make and hold insured mortgages, even outside of a restricted local area. $9.100 1732 IRVING 'ST. N.W. Eight-Room Stone Front Hou Environment, architectural distinction, last word house- keeping facilities, accessibility to intown activities tures that reflect the preference of those whose taste and fea- met in the higher-priced This is an unusual buy. We want you to be the judge of the compelling value offered in this distinguished English-type stone residence in the select Mt. Pleasant section—with beautiful Rock Creek Park at its very door. modern built-in bath with shower, extra lavatory to master bed room, all perfectly d priced so low that you will Open All Day Sunday and Daily 1 to 9 R. M. HOOKER MEtrop. 2€63 e Library or extra bedroom with @ Large living room room e Large porch eak Builders. From Westmoreland Circle at D. C. Line cont Turn first street to left, continue to No. 5 Duva UGHEOROUGH DEVELOPMENT CORPORAT Your Last Chance To See This “The Cream of Virginia” GLEBE RD. lots of ground. BLD R0 TION Ational 6370 SILVER STAR HOME [Clountry Club Hills COMPLETELY FURNISHED BY WOODWARD & LOTHROP — Seeing is believing—make every comparison—character, con- struction, environment.—transportation—enhancement in value Prices ranging from 13 to 20 thousand dollars with the finest appointments and equipment. This Silver Star Home has an 1.8- year 5% interest loan payable $59 per month, interest and prin- cipal. A second trust pays out in 6 years at $40 per month. Think of owning this home for less than you pay in rent. A floor plan that thousands with various needs have fitted to themselves and marveled at the home comforts they would oM PRa FIRST FLOOR CHAIN =) BRIDGE KEY SECOND FLOOR 20 Minutes Bus Sched- uled Time or 15 Min- utes Driving to Heart Yoot of Washington. = WASH GOLF et AS A . AR HALL E\S S aarnan Seoo SIGPPING CENTER (LY NAT. 6934 GeorGe H.Rucker Co REALTORS H Square Court House BIARENDON 107 Sales by P 2% Arlington, Ve