The Key West Citizen Newspaper, January 31, 1953, Page 8

Elliott Roosevelt Estate Sold For $70,000 THE ELLIOTT ROQSEVELT ESTATE on Key Vaca at Marathon, reported sold for $70,000. The estate consists of a spacious two-bedroom home on 24 acrs of Bayfront land. New owners are Kenneth M. Dunning and Robert O’Dell of Miami. Brokers in the transaction were Romer L. Baucum of Marathon, represented by Bill Ackerman, and The Keyes Company, suburban office, represented by Bob Harrill. Page 8 THE KEY WEST CITIZEN Saturday, January 31, 1953 Don’t Cut Financial Corners Too Closely In Home Buying | By FRANCIS J, KELLY WASHINGTON (#—When buying a home, don’t cut your financial corners too closely. Remember the “closing costs’—an important but seldom. stressed expense. These are likely to amount to several hundi dollars on any sizeable mortgag@ and can prove a source of serious embarrassment to a prospective homeowner who does not take them into considera- tion. . * This word of caution comes di- | rectly from the government’s Housing and’ Home Finance Agen- cy (HHFA). Its division of housing research, in collaboration with the Universi- ty of Florida’s Bureau of Economic and Business Research, recently completed a study of such closing costs in the residential mortgage market at Jacksonville, Fla., over a six-months period. Closing costs are charges over and above down payment ad- vertised by the builder, The in- clude such items as title insurance, mortgage service charges, proper- ty surveys, reports on the buyer’s credit and various fees, revenue stamps and intangible taxes. In the study, involving mort- gages executed in 1950, these clos- ing charges for a $6,000 indebted- ness ran approximately $244 for a loan guaranteed by the Veterans Administration, $335 for a conven- tional loan. In other words, it is probable that a buyer will find himself fac- ing additional payments equal to 4 or 5 per cent of the actual loan. The housing agency noted that closing charge prac‘ices vary in different sections of the country and are influenced by the relative availability of mortgage money. Nevertheless, it said, some charges are about the same everywhere. Title insurance is usually the largest closing cost item, running about $85 on a $6,000 mortgage in the Jacksanville study. It protects jthe lender or purchaser of the mortgage against prior claims, faulty title, forgeries, etc. Another significant item is the mortgage service charge, some- times called mortgage loan brok- erage. In the Jacksonville market cent of the mortgage or $50, which- ever was greater. It is designed to defray the expense of such things as lender’s appraisals, at- torney’s services, escrow charges, notary fees and various overhead items. 4 Hazard insurance, prepaid inter- est and taxes are other major items of expense which come up at the time of purchase. — In addition to the predictable charges, HHFA said sometimes payments are required for, such matters as equipment inspection fees, construction inspection fees, construction loan cost, brokerage fee for placing the loan, and water tap deposit. VENETIAN BLINDS EXCLUSIVELY WITH =— New Beauty With ROLLAcHEAD CUSTOM-MADE VENETIAN BLINDS The MAXWELL COMPANY © Built to Fir Any Size Window! “Aluminum Slats Easily Removabiel Precision - made te fit your windows perfectly ... cheese from decorator inspired colors ... either matching er contrasting tapes. PHONE US FOR FREE ESTIMATE The Maxwell Company $8? Fleming St. DIAL 26031 Wilson, Gandolfo Ask To Modify ‘Permit In Bight Application has been made to the Department of the Army by Messrs. Howard E. Wilson and Claude A. Gandolfo, Key West, | Florida, for modification of a per- mit issued 7 November 1952 to maintain an existing fill and to Place additional fill, in Florida Bay, at applicants’ property, at the northwest intersection of Roose- velt Boulevard and Dredgers Key Road, on the northerly shore of the Island of Key West, Florida. Tt was proposed to extend an ex- isting fill, beginning at the above- mentioned street intersection and extending northward about 545 feet along Dredgers Key Road and about 400 feet westward along Roosevelt ,Boulevard. It was also Proposed to fill two additional areas; one immediately westward of the above-mentioned area, about 1230 feet long and 545 feet wide, parallel to and about 125 feet northward from Roosevelt Boule- vard; the other are to be filled was about 700 feet long and 545 feet wide, and parallel to and about 125 feet northward from Roosevelt Boulevard. The latter area was about 2000 feet westward from the intersection of Roosevelt Boulevard and Dredgers Key Road and connected to Roosevelt Boule- vard with a causeway about 50 feet wide. Fill material would be obtained elsewhere than from the navigable waters. The applicants now propose to fill the two 125- foot wide strips between the above- mentioned fill areas and Roosevelt Boulevard. Plans of this work may be seen at the office of the District Engi- neer, Corps of Engineers, 575 Riverside Avenue, Jacksonville, Florida, and at the office of the Resident Engineer, Corps of Engi- neer, foot of Collins Avenue, Mia- mi Beach, Florida. It is not proposed to hold a {public hearing on this application. Anyone desiring to submit a pro- test based on the proposition that the proposed work would unrea. sonably interfere with public navi gable capacity of the said water- po Toppino Firm Featured In Florida Building Journal ROBERT BUCKLER LA CONCHA STUDIO MANAGER WRITES TWO COLUMN PIECE Charley Toppino and Sons made a front page picture spread and a two column story in a recent issue of Florida Building Journal. Written by Robert Buckler, La Concha Studios manager, with pho- tographs by him, the piece tells the history of the firm, and makes these points, “The firm leads all private en- terprise in Key West and has the largest civilian payroll of any com- pany in Monroe County.” The corporation founded in 1908 by Charley Toppino started with the owner and his two hands, a few tools and a will-to work, ac- cording to Buckler. It was his vision that led him to! buy Keys acreage, unmindful if it was by the acre or by the gallon. The Toppinos, Philip, who is President, and his father have “plowed in the ocean.” They be- gan to bring to the surface the ocean’s floor and moved it into swamps and marshes. Like magic, these worthless mosquito breeding grounds began to turn into valu- able acreage of good solid ground. Navy projects 1s well as private housing have been made possible by Toppino and sons. The firm now occupies a vast acreage on Stock Island. Opposite the story in Florida Building Journal is a full page ad Assessments Up i NEW YORK @—The assessed | valuation of New York City real estate was set yesterday at $19, 912,291,020—the highest in history. | The figure was a $486,831,633 increase over last year. way, should submit such protest = epee = sufficient detail to a a clear understanding of the reasons therefor. at all the new homes, motels and business buildings in Key West. You'll see only one in a hundred which has that look of character. At a glance you will discover quality and architectural excellence. Yours should be one of these Outstanding buildings too, for we engineer the job to fit your taste and your pocket- book. Discuss your building ideas with Ed Ambler now. AMBLER CONSTRUCTION COMPANY 1039 Catherine Street KEY WEST, FLORIDA * TELEPHONE 2.2022 eer of the Toppino’s with photographs of drag lines, cement block build- ing plant and other equipment. 24 Acres, Two Bedroom House Sold To Miami Yachtsmen Developers; Originally Owned By C. Tingler One of the largest real estate sales of the Florida Keys winter | season was the transfer last week of the Elliott Roosevelt estate at Marathon. Buyers were Kenneth M. Dun- ning and Robert L. O'Dell. The price was reported to be close to $70,000.00. Brokers in the trans-} Here are authoritative answers action was Romer L. Baucum, re- presented by Bill Ackerman, and from the Veterans Administration The Keyes Company, represented |to four questions of interest to by Bob Harrill. former servicemen and their fami- Elliott Roosevelt and tags lies: Bell Roosevelt purchased __ this 7: baveincehe te tract of land at the time of their ee : ale ov sages = marriage in May 1951. They bought | “tomic pgien ommission fellow- from the Chester F. Tinglers, long- | ship at a university. Would I also time residents and pioneers in the |be eligible for monthly education development of the Marathon area | allowances under the Korean GI The Veterans Corner in the Florida Keys. | Bill? The Roosevelt house is situated; A. No. The law prohibits VA upon a coral knob high above the from paying the allowances to vari-hued, beautiful waters of the veterans whose education is paid Gulf of Mexico at the tip of a | for completely by the U. S. Govern- headland. It was designed for com- | ment. Your ALC fellowship would fortable, tropical living. There is | come under this category. an outdoor terrace above a 70-foot) Q. I’m a World War II veteran swimming pool carved from the/and I’ve just finished training as coral rock, and a large breezeway.|an accountant under the old GI The tract of land comprising 24 | Bill. Now I'd like to take CPA acres is ideally situated, and may coaching course, since I have some be easily reached by air, water or | land. It faces U. S. Highway air- | strip, which was built by the Fed- | eral Government during the war for bomber training. It is 110 miles | south of Miami and 50 miles north | of Key West. | There is more than a mile water- | frontage and a large yacht basin, which is reached from the Inter- | caostal Waterway by turning south | above Rebecca Bank Beacon no. 15. Sailing craft can carry 7 feet draft to the point and through the dredged 2,000-foot channel to the landlocker harbor. Under the new | owners, who are active in yacht- | ing and fishing circles and who | are flyers as well, it will undoubt- edly become a rendevous for boat- ing enthusiasts because of _ its strategic location and because faci- | lities are contemplated for com- | fortable living aboard. | The plans of Dunning and O'Dell | are not complete at this date, but | the Lamb Construction Company, Marathon, is already engaged in| filling and leveling a portion of the | tract to make it ready for sale in } smaller tracts from a quarter-acre | to an acre in size. - 123 DUVAL STREET Former German Won't Go Back To Homeland For Any Riches BRANDON, Manitoba w— Things looked pretty dark last spring for John Kreutzer. He had 50 cents to his name, and his fam- ily of three had barely enough clothing. He had arrived in Canada as an immigrant from Germany and worked a year on a farm, as the conditions of his entry into Canada required. Then he set out on his own. Besides his 50 cents, he had a thorough knowledge of landscape gardening gained in a German school—and a tremendous urge to get ahead. He realized there was a future for a landscape gardener here and he found a place to get Plenty of sodded grass, a basic need for the job in this area. But he had no money to buy a truck. A bank, without asking security or references, loaned him the down payment. For the next six weeks, John, his wife Ann, and their two small children headed for the nearby Carberry hills to haul sod for an Army base. They worked from 3 a.m. until dusk. “Some days we loaded and hauled more than 1,000 yards,” John says. The process consists of taking up strips of desirable grass from a {field and planting it where some- } one wants grass in a hurry. It can give a better stand of grass than the usual seeding methods, in many areas. By the end of six weeks, he was | far enough ahead to buy a sod| cutter and began taking orders in Brandon. From sodding he went to | rass seeding and tree planting. | As the season shortened he began top-dressing lawns. Several large projects gave him the ‘volume needed to employ a staff. In August and September he had eight or nine men working for | him. John’s greatest worry was the | winter season when there would be | no landscaping. The sale of Christ- mas trees provided a partial an-| swer. Now he keeps busy cutting and pruning trees. Mrs. Kreutzer for more than six months has been able to devote her full time to her home and children, making headway. John’s greatest | jdesire is to receive citizenship | Papers. He says: i “I feel I am a Canadian and it! sounds strange when I hear some- one speak of me as a foreigner We wouldn't go back (to Germany jfor all the money m the worl "| Subscribe to The Citizen IF IT’S JALOUSIES ANY Manufactured in Key West GI entitlement remaining. Could I do it? A. No. VA’s post-cut-off-date re- gulations allow you to take’ ad- vanced training only when it's a normal progression from . your basic course. Rewivew or coach- ing courses - such as the CPA coaching course ~- do not represent an advancement to a higher level of knowledge, ana therefore may not be taken after you've completed your basic course. lwo: = = mine of a World ar I veteran T'm figuring my annuai income to see whether 1 qualify for a VA- death pension, From time to time during the year, my relatives have given mé gifts of money, Are they counted as income? _ A. Yes. Gifts must be included in computing your income for Pension purposes. Q. I got a GI home loan when the top guaranty was $4,000. I understand it has been raised to $7,500. Am I entitle to another loan which could be guaranteed for $3,500 -- the difference between the old and new top guaranties, _(Veterans living in Key West and vicinity who wish further informa- tion about their benefits should contact the VA office at 218 Post Office Bldg., Key West, Fla.) ————— SALES and INSTALLATIONS Miami Awning Windows Clearview Louver Windows Aluminum Jalcusies Storm-Stop Awnings Jalousie Doors Superior Casements Venetian Blinds Canvas Awnings Patio Furniture . Key West Venetian Blind Co, DIAL 2.5531 Key West Floor Covering Co. ANNOUNCES A Complete Stock of Armstrong Vinofloor Linoleum Also Kentile and Armstrong Asphalt, Rubber and Cork Tile Formica and Plastic Wall Tile INSTALL IT YOURSELF or Expert Guaranteed Installation DIAL 2-2512 For Free Estimate Manfred, 4, and Norma, 3. | The Kreutzers stil have language | Key West Floor Co. problems to overcome but they are For Any Type of Building SIZE S. H. DRUDGE GENERAL CONTRACTOR Key West's oldest, continueus contractor, Established 22 yeors. Over 700 contracts completed without @ ferteit. Including, Motel, Store fronts, Homes, Apartments, Reofing and Remodeling. F. H. A. FINANCING SEE 3410 AVE.E THE Tropical Sheet Metal Works 134 SIMONTON ST. DIAL 2.397