The Key West Citizen Newspaper, April 4, 1953, Page 6

BY SUSAN MCAVOY fo you want to build a house? Lots of people in Key West not enly want to, but do, as a glance et the City building permits shows. Becoming curious as to how these families go about getting a lot, financing the building and all the other details I started out last Week to find out, After a two hour interview with Edward Ambler, contractor, I felt like Alice In Wonderland. My id was swimming with words such as abstracts, titles, FHA fin- ancing, VA direct loans, mortgag- es, credit ratings and other foreign build houses if all this red tape is involved?” “Well most home builders don’t have the headaches of the red tape. Their contractor does the mortgage application and other work for them. The home build- ers give all their information to their contractor and he nurses through the loan applications for them, and tries to get the com- mitment. ods, according to Joe Pinder, ‘vice president of the Florida Na- tional Bank through the bank which. makes very few home foans;. through insurance com- panies, which only lend up to 65 per cent of-the appraised values, through the First Federal Sav- ings and Loans Association an@ finally through FHA, the biggest Ioan insurer of them all. Pinder told me that the vast majority “of houses being built in One young couple, clients of Am-| Key West are ‘on mortgages from blers were rejoicing last week be-| Stockton Whatley and Davin Com- cause they obtained after ten long | pany, owners of Sigsbee Park and months a loan commitment from Peary Court. How one gets a loan (to me) words. u the Veterans’ Administration for $10,000. At the end of the two hours 1 asked: That is one way a person can “Why do people ever bother to ' finance his building. Other meth- Page 6 THE KEY WEST CITIZEN Saturday, April 4, 1953 STEEL REINFORCED CONCRETE POLES FREE ESTIMATE CARTER AND SON ‘PHONE: MARATHON 4282 — KEY WEST 2.6368 GENERAL CONTRACTING RESIDENTIAL AND COMMERCIAL CONSTRUCTION AND REPAIRS ARCHITECTURAL AND ENGINEERING SERVICES AVAILABLE... F STIMATES COME IN AND TALK OVER YOUR NEW BUILDING, REPAIR OR ANY DIFFICULT CONSTRUCTION REQUIREMENTS. M. E. BENNETT CONSTRUCTION CO. 24 DUVAL ST. DIAL 2.2333 VENETIAN BLINDS EXCLUSIVELY WITH The MAXWELL COMPANY Any Size Window! “Aluminum Slats Easily Removable! Precision.- made te fit your windows perfectly ... choose from decorator - inspired colors ... either matching er contrasting tapes. PHONE US FOR FREE ESTIMATE The Maxwell Company 909 Fleming St. ANNOUNCES A Complete Stock of KEN FLEX VINYL TILE 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 332 DUVAL STREET from them will be part of another article. First, though let’s take Mr. and Mrs. Key West as we'll call Ed Ambler’s-clients who want to build a two bedroom house. Since they prefer to’ be anonymous, we will call them §oe and Jane Key West. Joe and Jane with a nine year old daughter now live in a house for which they pay $75 a month. They decided more than a year ago that since Joe’s job seems Permanent in Key West, they would like to build their own house and stop paying rent. Their first real problem was to find a, suitable lot. With prices of real estate high in Key West, this was. not an easy problem, parti- eularly since Joe earns only $81.50 a week take home pay. They finally found their dream lot'in Key West, one large enough | to meet VA or FHA requirements, which is 5,000 square feet. That means an ordinary 100 by 50 foot| | lot, or 60.by 90, ete. * | Being low on cash, Joe and Jane could not put up the whole $1500 on the spot. They were able to work out.a deal with the owner whereby-they paid ten per cent of the costs in the form of a con- tract for!sale, the balance to be paid in full upon acceptance by the Veterans Administration of their direct loan application. Before the Key Wests could ever get a loan from any other agency except VA, they would have to prove absolutely clear title to their land. The Veteran's Administration, however, lends money not only for building a house but for the pur- chase of the lot. Jane and Joe did not have the money for either a lot or the house, and they did not have suf- ficient assets to convert into cash. And that is the position that the overwhelming majority of home builders are in. They lack the cash or liquid assets to put out for build- ing a home, What Jane and Joe did from that day in May, 1952 to get the money to build their house will be covered in next week's article. (TO BE CONTINUED) According to the research de- partment of the Florida Trucking Association, Florida farmers would be in a tight spot without trucks. More than half of Flori- da’s vegetable crop moves by truck. Many agricultural com- munities. have no railroad serv- ice, DAYTON MPS Corner #leming and Elizabeth Sts JOE AND JANE KEY WEST stand on their dream lot and go over bluepri Contractor Edward Ambler, who is not only building their house }of robbers did some ‘ Ed for them but through the maze of applications, letters and red tape necessary for a Veterans Admin HH : Grocery company took out the mit last week. Other permits issued during week are as follows: Home Appliance company building a $7,000 addition to store at 605 Simonton Street. John Gates is making minor Pairs at Julia and Howe Street, for $100. Southern Bell Telephone and Telegraph Company is installing air conditioning at its Southard and Simonton Street. building at a cost of $7,500. H. J. Reilly, 1525 Flagler is making repairs to his upstairs porch at a cost of $125. 3 direct loan commitiment.—Citizen Staff Photo. e e e e Building Permits Higher 9 In March Than Mareh °52 Swelled By Permit To Margaret Ann 4 Ist Street Store Asks For Permit of March in the city totalled To Dredge, Fill $153,000 or slightly more than the $147,000 valuation on permits of} Application has been made to Ray Knopp said last week. Florida Keys Electric Cooperative Meets kas one pail se Association, Inc., Tavernier, Flo- a permit to dredge and Key Harbor, northerly applicant’s property, in lot 3, section 10, T. + Monroe County, Florida. to dredge a chi a-depth of about 9.0 feet leet wide, beginning at the exist- channel in Boot Key Harbor Marker No. 18 and ex- a Slight Increase Fla. Keys Coop. Building permits for the month March 1952, Building Inspector, /the Department of the Army by Flagler Avenue has taken blips eo nao eget nog . 32 E., Marathon, Vaca mean low water and about northeasterly direc- i te F g g greet i a wf z £ 3 F BiH. pias Street has taken out a paint his house at a cost John N. Thompson, 1507 Street is putting a glass a slate house at a cost of R. G. Curry, is building a two car garage at a cost of $500. J. Otto Kircheiner, 919 White- TOTAL RENT — $350.00 PER MONTH THIS PROPERTY LOCATED AT PERKY INCLUDES THE FOLLOWING: I Residense (Untoratehad? 1 — 7 Reom Furnished Building, 6 Baths TT — ta. Reom Purniched EXCELLENT OPPORTUNITY FOR QUALIFIED PERSON Inquire: S. C. Halpert. 407 Biscayne Bldg. Miami, Fia., Tel. 9-5636 Look st all the new homes, motels and business bufldings im Key West. You'll see only ene in « bundred which bas 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 te Mt your taste and your pocket-/ } AMBLER CONSTRUCTION COMPANY 189 Catherine Street TELEPHONE 227 STRIKING TRAINMEN MAKE AGREEMENT PITTSBURGH — An 2 d y Brotherhood of Rail against the Union R strike on the connec had shut down ¢ Pittsburgh district ope U. S. Steel Corp. The agreement to end which had idled workers, was announc road spokesman 2:40 a EST, after a marathon nego’ session Details of the pact nounced immediatel were not ar deposited on applicant's pri shoreward of adequate ret dikes. , ROBERTS OFFICE SUPPLIES & EQUIPMENT 126 Duval Street Phone 2.5634 Royal Typewriters | Portables and Standards SALES - SERVICE RENTALS A i} ROBBERS DO THEIR EASTER “SHOPPING” NORRISTOWN; Pa. @—A couple | ot Encter | Heit wallets before fleeing rly” Easter | several other items of clothing. lay while waiting | About 28,000 U. S. people are tired themselves’ in clothing from the store’s stocks. before opening at Martin's de-| |killed each year.in home acel- id the two thieves at- | dents. For Any Type of Building S. H. DRUDGE GENERAL CONTRACTOR Key West’s oldest, continuous contractor. Established 22 years, Over 700 contracts completed without a forteit. Including, Motel, Store fronts, Homes, Apartments, Roofing and Remodeling. 3410 AVE.E DIAL 2-3392 EQUIPMENT TO RENT oncrete Mixer... Wheel Barrows .. ompressor and Hammer... Tar Kettle «~~ Hoist ... Pump ete. The Royal Palms APARTMENTS Accepting Applications Now Furvished and Unfurnished 2 Bedroom Apartments ~ FIRST STREET and PATTERSON AVENUE =e a iN ALUMINUM JAL( IN ALUMINUM AWNIN' Hs CTORM fe Veres |