Evening Star Newspaper, May 29, 1937, Page 24

REAL ESTATE. INVIRGINIA NOTED Reports of Federal Savings Units Indicate Upswing Is Continuing. Reports of the Federal S8avings and Loan Associations in Virginia re- ceived today by the Federal Home Loan Bank Board shows that home construction continues at & fast up- swing in that State. Loans for construction, purchase, reconditioning and refinancing of res- idential dwellings in Virginia, made by 19 of the 21 Federal associations, increased sharply during the past 12 months, the reports reveal. Two of the associations are new and are not included in the survey. “Direct reduction” loans jumped from $6,144,492 on May 1, 1936, to $8,- 196,728 on May 1 this year, an in- crease of $2,052,236. A direct reduc- tion loan is one in which the face value of the mortgage is continually reduced by easy monthly payments like rent until the borrower owns his home free of debt. Assets of these associations likewise increased substantially during the 12- month period, rising from $7,829,059 a year to $10,167.088 this month, or $2.338,029 in new assets. The 19 associations stated that savings invested in their institutions increased $806,788 during the year. Savings of investors in all Federals and in many State chartered associa- tions in the United States are pro- tected through insurance up to $5,000 on each account by the Federal Sav- ings and Loan Insurance Corp. Twelve of the total of 21 Federals in Virginia have put into effect a | more liberal lending and investing pol- icy through the adoption of a revised charter. . This charter has already | been applied for by 63 per cent of the Federal assoclations in the country! and applications for it from other Federals in Virginia are pending with the Federal Home Loan Bank System. Federal associations in Virginia are located in Alexandria, Bedford, Bris- tol. Clarendon, Clifton Forge, Cov- ington, Hopewell, Lynchburg, Ma- nassas, Norfolk, Petersburg, Roanoke, Richmond, Salem. Sandston, South | Boston and Virginia Beach. 53-ACRE PLACE BOUGHT BY WASHINGTON WOMAN Mrs. Margaret Fraser Acquires “Chatterbox"” Property Near Bethel, Va. Special Dispatch to The Staf. WARRENTON, Va.. May 29.—Mrs. | Margaret Frazer of Washington has purchased the Paul Abbott property | of 53 acres, with improvements, near Bethel, known as Chatterbox, and will | take possession at an early date. Thefi sale was made by the Northern Vir-| ginia Real Estate Co., Middleburg, Va. Harry L. Edmonds and Mrs. Eleanor | Edmonds Perkins have purchased from } Clifton J. Hackley a tract of 48 acres in Cedar Run district, this county. W. H. Bradfield has bought two par- i eels of land in Fauquier County, near | Middleburg, one from Mr. and Mrs. | Robert L. Costello and one from Mr. and Mrs. Lemuel W. Waddell. | By deed dated May 24, William | Rowland and Dorothy Rowland, his| wife, conveyed to Ben B. Cain and| Margaret Taylor Cain a tract of 35% acres 2 miles east of Warrenton on Lee Highway. The deed stipulates| that the land shall not be divided and | sold as building lots. Survey (Continued from First Page.) small fellows. Eighty per cent have built less than five houses or apart- .ment units, 16 per cent built up to 25, while only 16 per cent of all operative builders erected 50 units or more. “Many of them have had little or no eaxperience in building homes, and have taken a fiyer in the building fleld as they might in the stock market. Because they see building activity all over the place, they think that its opportunities and profits must be unlimited. They will shortly be dis- llusioned. The new residential con- struction that will be available be- tween now and October 1 means a keenly competitive market and a lot of these amateurs will find, as in any other business, that the man who knows his stuff will have the edge. “House buyers should inquire about the builder as well as study the loca- tion, neighborhood, etc. of the home they expect to purchase. How long has he been in business, what is his reputation, does he go back to repair free of charge those minor, but troublesome defects that often show up in a new house after it is occupied, does he live in Washington or is he an out-of-towner who will skip when the cream is gone; these are some of the facts a home buyer should ascertain before making what is often the most important financial decision of his life—the purchase of & home.” —_— The first ORio River ship to reach :..ouuvme, Ky, came on June 186, 800. BEST BUY ON THE MARKET 519 LINCOLN AVENUE RIVERDALE, MD. bath. large kitchen. Price, $5.950. Only 20 Minutes’ Drive From Treasury THE EVENING STAR, WASHINGTON, D. C., SATURDAY, MAY 29, 1837. GAINS IN BU".I]ING New Woodhaven Home Sold Mr. and Mrs. James J. Sullivan bought this home in Wood- haven from the Oakwood Engineering Co., builders and de- velopers. It contains five rooms BY LAWRENCE CROLIUS. F YOU are a devotee of reading in bed you will welcome the clever new spotlights which have re- cently been brought out. In- stead of having to depend upon the oftentimes inadequate light from the usual bedside lamp you can now bask in the rays of a powerful light which will make reading a real pleasure. These little lights are an offshoot of the lights used in the theater and in window display, and contain & strong bulb further enhanced by the magnifying lens through which the | and bath. —Star Staff Photo. beam passes. The beam is concen- trated by the lens used so that it may be directed on a relatively small area most effectively without illuminate ing the surrounding neighborhood. These lamps are a boon to people who have had difficulties arranging their lighting facilities, particularly when one wants to sleep and the other feels in the mood to wade through a mystery thriller. It is now merely necessary to adjust the little spotlight on the book and no light will bother the sleep enthusiast. The lights are made in a variety of finishes, and all of them have a handy universal joint base which en- ables the user to cast the beam around over a wide range. * ok ¥ % THE ultimate in mechanical and | electrical perfection will be with us when we merely have to think to | have various things done for us. As it is now we have almost everything done except thinking and s little of that is perpetrated by some of the new devices now available. If you want to have your radio turned on at & certain time all you | have to do is attach one of these compact time switches, set it to the desired hour and you will have what you planned for when the time rolls around. ‘Then you can hitch it up to a cof- fee percolator and when you come down in the morning your break- fast will be wel] on the way. Eggs can be bolled, toast made without burning and all sorts of. time-saving. uses can be found for this remark- able mechanism. For people who have poor memo- ries, these time switches will prove invaluable, and just think of the fun and frolic you can have with your VAR friends when various devices turn themselves on and off automatically. For people who require reminders at various times of the day you can obtain these time switches in a com- pact, spring-wound form which can be set in & manner of an alarm clock to announce the time when foods should be placed on stoves, and taken off, fuel put on the furnace and other chotes which might poasibly be over- looked. This device announces it self with a small bell, and is %0 in- expensive that you can afford to have a number of them around to call you at specified times. PERMITS ASKED Special Dispatch to The Star. SILVER SPRING, Md., May 29.— Plans have been flled with Building Inspector Gerald A. Warthen for a permit to remodel a block of three stores and the former post office building on the southeast corner of Georgia and Thayer avenues for a Murphy's 5 and 10 cent store. Remodeling of the property is ex- pected to cost approximately $30,000. Partitions will be torn down, base- ment built and a one-story building added to the section formerly occu- pied by the post office. 530 Ashord Rd., Silver Spring, Md. Everything to Make This Home F.H.A.PURCHASERS KEPT INFORMED Amortization Schedule Shows Amount of Equity, Balance Due. Every one who buys & home through the insured mortgage plan of the Federal Housing Administration can know to & penny, on any given pay- ment date; the amount of his equity and what remains to be paid. Th# information is contained in a simple amortization schedule to which each home buyer is entitled. This chart shows in detail the monthly payments to be made, with the exact amounts to be allocated to service charge, mortgage insur- ance premium, interest and curtaile ment of principal. The home pur- chaser is thus enabled to have con- stantly before him a clear picture of his obligation throughout the entire period of the mortgage. The amor- tization schedule is of great value to the borrower in that it eliminates any possibility of hidden charges or other concealed costs which confronted a home buyer under the outmoded multiple-mortgage financing practices in vogue prior to passage of the na- || tional housing act. Aside from the fact that the amor- tization schedule kéeps the borrower completely before—it serves as a constant re- minder that in the insured mortgage system there are no hidden charges. As each borrower is provided with || his own amortization schedule, there is no possibility of any misunder- standing as to the requirements of the lien. The schedule constitutes a com- |/ | plete history of the payments on the | It might be termed a |}/ mortgage. photograph in minute detail of how the equal monthly instaliments are devoted to retiring principal and in- || terest and other charges, except taxes and hazard insurance. Home buyers are urged by the Fed- eral Housing Administration to keep in mind the importance of the sched- ule and have it on hand at all times informed—as no other || method in home financing ever did | M. D. CAMPBELL 498 Washinrien Aveaue, Riverdale Phone Hrattevifie 159-M . 1813 Parkside Drive N Delighttul in its pure colonial lines, TO REACH: Drive out 16th this lovely home contains 9 rooms, 3 Street N.W. to Kaimia baths, Electric Health Kitchen, Rey- oo o000 o % nolds Oil Burner and Air Condition- e/t on Xaimia Rod ing System, 2-car garage, and many . to Beach Drive, left on Beach Drive past Plymofith other features. See this home, if only to enjoy the Street to Parkside Drive. Parkside Drive borders view of beautiful Rock Creek Park, Open and lighted daily until 9 p.m. Rock Creek Park Stream. PAUL T. STONE, INC. STONE-BUILT HOMES ARE BETTER-BUILT HOMES Developers 927 15th St. N.W.—NA. 0856 Builders FIRST TIME offered! Just Completed! & New srick HOMES Sample House 1346 Rittenhouse Street N.W. $8.950 o+« and a Sensible Payment Plan $760 CASH and then $75 monthly. pays everyshing! - All interest .and . curtailments, taxes and: even water rent. No extras of any kind. It's exactly like paying rent! NO BUILDER has ever DARED make such an offer. Ungquestionably the VALUE SENSATION of all time! @ 6 reoms, S baths. Large frent and rear poreh. 3 bed reoms. reem in basement. Latest type bath fixtares, Hardweed fleers and trim throusheut, Ample eeat closet. Hot-water heat with, Fiuid Hea$ Oll 'Burner. Sereens. - ‘Westherstrip. All Day Sunday Week Days 6p.m. to9 p.m. BUILT RIGHT by STEUART BROS. 1012 5th St N.W, Nat'l 3000 Overlooking 16th $t. & Rock Creek Park A REAL VALUE: $8,950 You are invited to inspect a group of homes in a beautiful wooded section near the Montgomery Blair High School in Silver Spring, Maryland. These homes are distinctive in design and embody the finest construction details. Large wooded lotg Y 5 large rooms and riursery % living room 13Y2x23 % wood burning fireplace % oak floors % slate roof % furred walls and Rock Wool Insulation ¥ screened and weatherstripped ¥ for ready reference. The amortiza- |and items selected from the amortiza- ' . REAL ESTATE. tion schedule is another easily un-|tion schedule at various periods dur- derstandable feature of the insured|ing the term of $4,100 at mortgage system. of & 19-year mortgage an interest rate of 5 The following table shows amounts | per cent: Morteage Payment . insurance o B interest l(;ll m 7 $120s 18.8 201.9 16.00 10517 1st payment 2th payment %’oul‘:lt year. 24th payment ‘Total ,24 ";ln, 80th paymen Tvlllbblh El o Total 228th ent = Total 10tk your ST ) o2 ey Sm Sm Om ¢ £S5 #a 82 82 &R 14.07 17259 10.18 IZS.MI 07 838 SPONSORED U. S. UNIT - Paint Association Helped Founding Commerce Dept. Ernest T. Trigg, president of the Na- tional Paint, Varnish and Lacquer As- sociation, in & recent address made in New York, pointed out that the estab- lishment of the Commerce Department Wwas one of the association’s achieve- ments. In 1891 the association ape » o » - £ 3 in Payment pi i S B o= Heo Mortgage insurance re: inte; 2417.26 pointed a committee for the organiza- tion of s movement to bring about the creation of such a department. After many years of work, the paint industry, with the aid of other man- ufacturing and commercial organiza- tions, finally succeeded in getting Con- gress to take action, and the depart- ment was created in 1903. o Greece has removed import quota restrictions on moving pictures. ©® New American Homes, adisine ing Rock Creek Park at Beach Drive and Leland Street, on beau- tifully wooded tots, with 3 and 4 bedrooms, 2 baths. paneled library and basement lounge, maid's room and bath, 2-car garage, G.E. qir conditioning and electris health Ritchen. @ Model home open daily to 930 2 WAVERLY TAYLOR %2 1522 K Street NAfional 1040 We have four giant White Oaks for sale! Magnificient and stately— generations old—they mark the corners of the only type home suitable to their dignity, a brick Colonial. Casting their cool shade over one of the most beautiful home sites in this woodland community, these towering oaks may be purchased for only 7,450 This price includes the three-bedroom brick Colonial home with its wood-burning fireplace in the living room and de- tached brick garage. Slate roof, caulked, weather-stripped, insulated and screened. Carefree comfort with modern gas appliances. To Reach: Drive out 16th St. to D. C. Line and right on Colesville Road 213 miles past Silver Spring trafic light. Watch for Northwood Park sign on left-hand side of road. i3 mile past Indian Spring Golf Club. William Walter Building Directs Smith or Our Representative Is Always on the Property. Other Homes Pri¢ed From $6,250 to $9,500. James Wilson, Exclusive Representative, Shepherd 4330. Thomas E. Clark Plumbing and Heating Contractor "THE WOODLAND COMMUNITY" QT e T T e A Inspect These Sensational Homes in onnmAVEN garage. “Carefree comfort with modern qas appliances.” Built by Schuyler, Inc., 418 Southern Building - JUST COMPLETED ANOTHER NEW HOME by Jacobson Bros. HIS is the newest home in this dist block west of 16th St. wooded park. Contains 3 bed room: Colonial fireplace and mantel, built fast room, Ist floor lavatory, automatic TO REACH: Mrs. K’s Toll House Tavern, right on Dale Drive to Ashford Rosd and Greenwood Homes. , Drive out Colesville Pike to Sales E. T. Manning National 3668 guished, fast-selling group, just ene A center hall Colonial overlooking beautiful Y2 baths, spacious living room with closets dining room, bre heat with Summer and Winter hookup, all brass hardware, furred walls, rock wool insulation, recessed radiation . . the features of the finest custom built home. h ished Attic. Slate Roof. Copper Spouts and Gutters. . Beoutiful Wall Paper and Light Fixtures. 2-cpr Garage with Overhead Doors. THIS 1S AN ELECTRIC KITCHEN OPEN SUNDAY AND DAILY TO REACH: Out 16th St. to Orchid, left on Orchid 1 block to homes. JACOBSON BROS. W. ' Owners—Builders Dist. 2126 T s _— W here location, beauty and construction are com- bined to give you more for your money. Cmpare These Homs With Any Ote in he Same Price Range and See the Difference COMPLETE i[\ every detail, these spacious homes, typical of the sturdy homes which have been completed and planned for this new section, warrant your closest inspection before HE feotures of these homes include stone con- struction, poured concrete foundation walls, Ludovwici tile roof, Chase copper pipe, gutters and downspouts; two stone fireplaces, Thrush hot- water heat, concealed radiators, oil burner, elec- tric refrigerator and range, colored tile kitchen ond baths, colored plumbing fixtures, Venetion blinds, large cedar closet, leundry chute. Best home ' construction, approved by the Institute of Architects, and many other you complete the purchase of a home elsewhere. They are complete throughout .and BUILT TO LAST! PROPERTY FULLY IMPROVED WITH CONCRETE STREETS PAID FOR Never Before Have Homes of This Quality end Value Been Offered ot These Prices An Inspection ‘of These Homes Will Prove Our Statements os. FIREPROOF CONSTRUCTION on interior and exterior walls THIS IS AN ELECTRIC KITCHEN _HEALTH HoME s 'cunmn WINDOWS Exhibit Home Completely Furnished by Hutchison’s, Inc. Open Daily and Sunday to 9 P.M. OUT TODAY— Ave. radley Blvd. left three miles to Woodhaven—or from Conn. i’%’.‘"ame over Int-'v-’:t“ g‘l‘l‘l’lvl‘; wwWYlm bn-. :.o‘lnflhy, mvf: risht 8/10 mile ,to property. Oakwood Engineering Corporation Builders of Homes of Distinction and Quality . HOMES BUILT TO ORDER ANYWHERE Office on Property—Free Transportation, Phone