Association Proposes to Get
It at Meeting in
Action and not word* will solve the
national housing problem, and that is
what the Home and Community
Builders' National Association pro
poses to get at its convention here
January 11. 12 and 13, Don A. Loftus,
organization president, stated today.
"Action—not words— will start steam
shovels puffing, saws buzzing and
hammers pounding," Loftus said. “Ac
tion will start the wheels of the home
building industry turning: will put
millions of men to work: put hundreds
of millions of dollars into circulation
and will produce modern, low-priced
homes for millions of Americans.
“Recently there have been gather
ings of industrial leaders, chamber
of commerce secretaries and others to
discuss the housing situation. Thou
sands of words have been uttered and
more thousands printed. Perhaps this
talk has clarified the problem: per
haps it may stimulate action in cer
tain quarters. If so. fine.
Talk or Re*ults?
"President Roosevelt has interested
himself in the problem. His message
to Congress contained pointed sugges
tions for solving the home-building
problem, some of which undoubtedly
have merit. Members of Congress
have entered into the spirit of the
movement, and apparently are on the
way to liberalizing F. H. A. require
“Will this be just so much talk gone
with the wind or will it result in the
kind of action we need to promote
“Members of the Home and Com
munity Builders' Association decided
months ago to launch a national
home-building campaign in 1938, us
ing the facilities at hand to achieve
their objectives. Nothing has hap
pened since that time to disturb the
line of action originally proposed.
"The problem of building and sell
ing houses must and will be solved
by the men in the industry. Many of
these are in the same position as in
dustrialists who have Idle factories
and machinery but who either lack
proper financing or who have failed
to adapt their methods to changed eco
nomic conditions. Given the proper
plan, these builders may readily revive
dormant properties and take advantage
of the buyers’ market that really '
Revised Methods to Be l rged.
“Having studied the housing situ- :
■ tion thoroughly, members of this as- I
eociation are convinced that the so- |
lution to volume building lies in ac
tion based on efficiency in planning, i
buying and building. They will urge |
revised methods whirh already have
Proved effective in the production and
Rale of low-priced homes in numerous
“Success of the plan, svhich will
be detailed at the January meeting
seems assured from the widespread
Interest and hearty response occa
sioned by the first announcement.
Bcores of land developers, who own
improved tracts available for residen
tial building activities, have signified
their intentions of attending. With
them will be representatives of lead
ing financial institutions which have
ind oated they h$ve almost unlimited
funds available for long-term, low-in
terest construction loans.
Two Elements Joined.
Thus we Will bring together the
two most important elements in thp
wbr.e housing field—experience and
capital. Without the collaboration of
Lrese two elements no amount of talk
will get building started. Likewise,
no new legislation will be effective.
Talk at the home builders’ conven
tion will not be on the question of !
'how can it be done?, but ’how it has
and will be done.’ The entire pro- 1
gram will be directed toward getting
Immediate artion on a proved plan
that embraces all factors involved,
from the development of the land to
the financing of the home. By this
fand of action we hope to reach our
goal of two billion dollars’ worth of
single-family, detached homes In 1938,’’ |
REALTORS TO CELEBRATE
Christmas Party Scheduled for
The annual realtors' Christmas
party will be held Thursday, Decem
ber 23, at 12 30 in the ballroom of
the Willard Hotel, it was announced
today by Harvey h. Jones, chairman
of the Program Committee of the
Washington Real Estate Board.
The board's Christmas party has
been growing each year, and a record
breaking attendance Is anticipated
this time. One firm, Boss <fc Phelps,
has announced that it has purchased
tickets for *0 of its employes. There
will be luncheon, entertainment, music
and presentation of a large number of
prises by Sants Claus.
■— " ———
6 ROOMS, BUILT
BECK AVENUE S.E.
These new bungalows contain
full basement with wash troys,
hardwood floors with sub floors
end hot-water storage heated by
gas. On the first floor ore living
room, dining room, kitchen, two
\ bedrooms and bath The second
s floor has one large bedroom Sit
uated on large lots, they are built
as well as a $ BO 000 home, the
best materials and workmanship
having been used throughout.
Where else ran you buy a sim
ilar house at this low price5 See
the owner on the premises ond let
him tell you why these homes may
be purchased here for $1,000 less.
Why not save $1,000?
DIRECTIONS: Out Pennsylvania
Avenue S.E . turn left on Ala
bama Avenue to Seek Avenue,
right on Seek to the proverty.
JOSEPH C. ZIRKLE
OWNER-BUILDER Dl. BBSS
'*riiis^agsg=a=g.. 1 ..
Dwelling on Utah Avenue Purchased I
This home, at 6355 Utah avenue. Chevy Chase, has been sold to Misses C. B. and E. I.
Meyers by John C. Saunders. The transaction tvas made through the office of- Edw. H. Jones
& Co.. Inc._ —Star Staff Photo.
• Continued From First Page >
structures on homes costing *6.000
and under. This proposal was the
first in the President's six-point pro- ;
gram. The real estate men first i
adopted a resolution advocating in
surance of 90 per rent loans on homes
regardless of price, but this was later
modified as indicated above.
Vrged Rate Be Reduced.
Association delegates also asked for
a reduction of interest rates on F. H.
A. insured mortgages from 5 to 4 per
cent, This is nearly identical with
President Roosevelt's message which
advocated reduction of the "present
over-all financing cost of 64 per cent
on an insured loan to 5 4 per cent on
houses costing *6 000 or less, and to
5 4 per cent on larger projects." The
over-all financing cost includes in
addition to interest, a small service
charge and insurance premium. The
interest rate on F H. A. insured loans
now. of course, is 5 per rent, with the
other small charges running it up to
about 6!v per cent.
Another point of similarity in the
two programs concerns the establish
ment of national mortgage associa
tions. The President asked for asso
ciations which would be authorized
to make direct loans on large housing
projects when private funds are not
available, and then sell debentures
secured by the mortgages. The first
association would have *50.000.000
capital advanced by the Reconstruc
tion Finance Corp, and would be
authorized to sell debentures to the
extent of 20 times its capital, thus
giving it a fund of *1.000.000.000 It
is hoped that, other associations of
this type would be established by pri
vate capital. Such a proposal would
mean revison of Title in of the
housing act, which has never been
put in operation.
With the same objective in view,
that of furnishing -ready money for
building and more liquidity for mort
gages. the realtors at their conven
tion asked for "rewriting of Title in
of the act so as to provide for a
central mortgage bank to purchase
sound mortgages.” Establishment of
such a bank has long been one of the I
objectives of the National Associa
tion of Real Estate Boards.
If the housing act is amended to
permit insurance of mortgages up to
90 per cent the appraised value of
the property, it would, of course, en
able the small-salaried man to buy
a home through a Government-in
sured loan by making a down pay
ment of 10 per cent Instead of 20
per cent as the act provides now.
That the average American family can
make only a 10 per cent down pay
ment was the consensus of delegates
at the realtors' convention. President
Paul Stark pointed out that four
fifths of all homes are bought with j
10 per cent down payments and, j
therefore, carry 80 per cent mortgages
of one kind or another. He said he
believed that it is better that first '
and second mortgages be consolidated
in one instrument with one mortgage
so that the borrower can have the
benefit of a repayment plan over a
long period of years which is ad- |
justed to his needs.
The realtors also asked for in- j
surance of any sound large-scale
housing project without limitation on j
rentals. They termed the present
Furnished Exhibit House
These Unusual homes contain rec
reation room, 2 baths, automatic
Heat. Their lots ore deep and
they face a beautiful park.
Open Daily and Sunday
Waple & James, Inc.
84.^3 Gporgm Av*. Shpphprd 5200 i
Silver Spring Office |
F. H. A. limitation on rentals In large
projects as unworkable. The Presi
dent also advocated revision of this
section of the housing act.
Announcement of suggestions made
by real estate men with regard to
revision of F. H. A. brought imme
diate objections from such allied busi
nesses as mortgage bankers and build
ing and loan associations, and it is
expected that similar opposition will
develop to the President's proposals.
An Invitation to Inspect
Our Model Home
4944 Lowell St. N.W.
A home of unusual charm in a highly restricted community
overlooking the hills of Virginia.
There ore mony outstanding features you will like: A large,
bright living room, 15x24—lst-floor library with fireploce and
lovatory—ultra modern kitchen and butler's pantry—large recreo- ,
tion room with fireplace—-bright, spacious bedrooms and large attic. i
The home is air-conditioned and insulated.
It Is Indeed a Perfect Home'
Displaying Genuine Antiques, imported from
England by the Old Antique House,
817 Penn. A ve. Ar.W.
%rn 1%°T iZtt'Wul'Vl t EISM SJTSrS2ft
Phillips & Canby, Inc.
PREMIER APARTMENT BUILDING
718 18th St. N.W.
The Receiver of the District Notionol Bank has
appointed us exclusive agents to make immedi
ate sale of this property.
A complete analysis of the property, showing
present and potential value, is available to any
qualified purchaser on personal application.
BUSINESS PROPERTY DEPT.
(Specialising in authoritative analysis and intelligent mer
chandising of important Washington investment prop
BOSS and PHELPS
No. 93001417 K St. N.W.
U. S. FIGURES SHOW
federal Home Loan Bank Board
Findi October Number Over
Real estate foreclosures In the
Jnlted States, exclusive of farms, to
aled 11,123 in October, a decline of
5.7 per cent from the 14,970 in Octo
•er, 1936, it was reported by the Fed
ral Home Loan Bank Board. Dur
ng the first 10 months of the current
'ear, foreclosures aggregated 130,887
ir 16.3 per cent less than the 156,364
oreclosures In the same period last
The bank board reported there were
13 foreclosures in Washington during
October, a decline of 6 per cent from
he September number. Louisville
•egistered the largest decline for the
nonth—83 per cent—followed by Hou
iton, Tex., with a decline of 58 per
The October foreclosures also were
1.5 per cent less than those in Sep
ember this year, amounting to 12,152.
rhe September - to - October decline
wrought the foreclosure index down
from 83.3 to 87.8, using 1934 as the
index of 100. The customary septem
ber-to-October recession is but 0.7 per
cent, as indicated by three-year aver
ages. October also was the third con
secutive month during which fore
closures remained below the monthly
averages for 1930.
The rate of foreclosures per 1,000
dwellings, during October, was 7.1,
while the annual rate of foreclosures
for the year ending September 30,
1937, was 8.7 foreclosures per 1,000
— •-- ■■ ■ -
Dry Weather Only Need.
Good weather is, of course, essential
to good exterior painting work, but it
is moisture rather than temperature
which generally causes trouble. Any
season of the year when it is dry and
the thermometer registers 40 degrees
or above is satisfactory for exterior
We con offer on experienced teal
Estate Salosman excellent coverage of
new houses and full co-operatioo in
Leslie D. Meosell
CAST STONE INSTITUTE
ART STONE CO.INC.
4519 Citthedral Avenue
I”HIS attractive home of English design is
beautifully situated on large, wooded, rolling lot
(100x1 50) close to Foxhall Rood. Containing 8 large
rooms, 2V2 baths on the second floor, lavatory on
firsf floor, and maid's bath, it offers unusual advan
tages for comfortable living. One bedroom has fire
place and can be used for upstairs living room. There
is also a finished attic, maid's room, two-car built-in
garage, oil heat and private drivewoy.
This property sold for fifty per cent more than
the price now asked, and offers a fine opportunity to
make your home in this desirable location.
Open Every Day Until 9 P.M.
NA. 5903 811 15th St.
pay for themselves!
D ST. N.E.
Designed for Hte
use of 1 or 2 fam
ilies. Priced from
The rent of'your tenont will
pay most of the carrying
Homes of character with de luxe
kitchens, gat heat, two complete baths
with showers, large club room. Designed
so thot two private oportments may be
arranged. Natural trim, caulked, insu
lated, weatherstripped, screened. Wide
concrete porches, built - in garage,
fenced landscoped lots. Let us explain
how easily you can own one of these
exceptional homes in a desirable neigh
borhood. Open until 9 p.m. daily.
Built by BOWLING & GARDINER
^ r. M. HOOKER TSS?
*- -- ★
ill Notv Open — One of 13 NEW7 Designs
1 4443 Ellicott St. N.W.
THE GREATEST HOME VALUE
Obviously you will look around to get the most for your "home-buying"
dollar ... so be sure to see “HOMELAND,’’ the new “Air-Conditioned"
CAFRITZ Development that has
ALL WASHINGTON TALKING!
FINER CONSTRUCTION . . . NEWER FEATURES . . .
MORE HOME THAN EVER BEFORE
These homes are extraordinarily attractive, and feature REYNOLDS
OIL BURNER and AIR-CONDITIONING UNIT . . . RUUD HOT
WATER HEATER . . . DETACHED GARAGE WITH OVERHEAD
Our large scale operations enable us to build
“A BETTER HOME AT LOW COST”
4439 ElKcett St. N.W.
FarnUhed hr Peerleu—Dereratrd by ElUabeth Stanley Wile**.
14th &K CAFRITZ Dist. 908C
Owntrt—Build ere—A rchitteti
TO SEACH: Out Wlaeenala Are. t# Alvar Bead . . . Lett te inieett St.
More Value in a New Home
• room*, 3 lovely
bath*, flnUhed at
tic, r»ra*e. ONE
HOME IN GROUP
WITH « BED
Modal Homo Attroativaly Fur niahad by Hilda Millar
Yaur pramptnau it invitad ta impact
thia carafully built and camplata hama
Open Daily and Sunday to 9 P.M.
Out Rtvir Road to Hth St., south to Window Plata. You »m sit our sign.
A. LUCHS & SON, Builders
WAPLE & JAMES, Inc.
1224 14th Street N.W. Dl. 3346
No. 2921 Groonvolo Rood, Ridgewood Villogo
A UNION OF DWELLING
WITH ITS NATURAL SETTING
INDIVIDUALITY H Some of the birdsong gets into your heart, and I
of n ,he breeze-stirred foliage whispers of peace, |
DESIGN aX you ta^e u^ R'dgewood Village. In
this Colonial dwelling a really compact home
The dwelling pictured above was plan is given pretentious external effect by
designed and built to meet the re- remarkable genius in architectural design.
quirements of the owners, Mr. and
Mrs. Thomas A. Hendricks The Rock Creek Park frontage, natural
The architectural distinction of , . 1
this home is founded upon f.ner beauty and proper restrictive cove
klnM if nants gives a solid basis to a homesite
corporated every building better- l l c
ment. Authentically Coion.ai in purchase here. Secure yours now.
character ,t is modem to the m,n- Spacious Wooded Sites
ute in equipment—carefree com- 1— r
fort with modern gas appliances. S from $2,750 Up.
f Matching the Sylvan Beauty of the Park
To Reach Property—Drive northerly on Beach
Drive thru Rock Creek Park to District Line.
1 Office on EDSON W. BRIGGS,- Inc. Telephone I
Property Developers WIs. 1681
1 — .
; ... ................. ....... (
335 FAIRFIELD DRIVE
■ ■ ;
A earth** cottage combining *H of tfco ipeciol feature* demanded by pur
ckoeen during the poet year. Veetibele entrance, private bell between bed
roome and batb, coxy dinette, foil attic for etorogo or additional room*, bate- j
mant camplet* with loendry troy*, toilet and Rrymt Winter A ir Canditianinf.
Welle and ceilingi iatalated with Zanalita..
CAREFREE COMFORT WITH MODERN GAS APPLIANCES
Drive eat Wieeonein Avenue about '4 mile beyond the Bank at Betheeda to
entrance o/ Qlenbrook ViUaee at 7(12 Wiicorirtn Ate.
e & ■ ■ -
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