Show 'inj£ SALT LAKE TrtlnUNE SUNDAY MORNING JULY 14 1935 C REAL ESTATE AND HOME MODERNIZATION T Return of Confidence Seen By S L Realtor Executive Utah Building Boom Looms Observer Declares People Tire of Hearing ‘Bugbears’ and Ready to Push Forward Under Move to End Depression Through Spending Man Who Wants to Build Helps for Thethe Architects’ Small House Service Bureau Inc : ov Wi ' V v 5 1 Waste space is reduced to y '4 government for its first 100 of existence It might also have stated that in 1934 government officials spent more money for airplane rides than was spent the first 100 years 9 We spent in (war years) 33 billion dollars to run this govto ernment and win a war that no one won during which time we had an income of about 10 billion dbllars and created a deficit of 23 billion 1917-191- dollars Spend Among Ourselves Including 1932 to the end of 1931 our government will have spent 25 billion dollars on an income of 11 billion and will have created a deficit again of about 14 billion dollars all to win a war again— but a war that cair bawon and will be a war on depression This time we are spending the money among ourselves It is going from one pocket to another— all within the bounds of the United States It is going so fast from one hand to another now that the United States mints are working 24 hours a day making small change merchants are busy new automobiles are being sold farmers are getting something Tor their crops people are again getting ahead and are investing their Federal Housing Head Names Standard Aid to Business If a house can be built with no waste floor space this one seems to Hails are reduced to a minimum and necessary closets ars located in space of least value Construction: Wood frame exterior h finish aide siding or shingles shingle -- jrn lf Needed low interest rates in line with market for money Our Trust Department WALKER BANK TRUST COMPANY state legislatures are considering such legislation and four have not met The Georgia law 'was vetoed ) by the governor roof e Paper Wanted It was further pointed out that before the advent of the federal housing administration no insurance company of standing would write mortgages for more than 50 or 60 per cent of the appraised value and those mostly for five years or less Now Mr McDonald said many of the leading companies are advertising for mortgage business along lines practically identical with the federal housing administration plan on a basis while in one or two instances companies are advertising Kong-Tim- Home building questions will be answered without charge Detailed furnishing and color scheme suggestions for the living room as shown above right will be supplied Write to the Home Building Editor of this paper enclosing a stamped envelope ald said “it has been considered sound to reduce the rate of the insurance premium in order to reduce the cost of insured mortgages to home owners” Prior to the reduction the federal housing administration had per- Is All of the modernization credit is for construction work or for machinery and equipment and from 30 to 35 per cent of the mortgage in injurance is for financing new homes Administrator McDonald pointed out that the figures tell only part of the story of progress made by the federal housing administration Mortgage laws have been changed in 41 Rtates to allow investment of trust funds in mortgages insured by the administration two other Careful attention to proportions and architectural detail make this house one that will remain always in good taste Few items of a purely decorative nature have been added but these shutters and trellis for example Rdd greatly to appearances in comparison with their relatively small cost The high steeply pitched roof allows for bedrooms of comfortable size on the second floor per cent per annum "In view of the fact that the volume of business uqder the mutual mortgage insurance plan of the federal housing administration is increasing so much more rapidly than was anticipated” Mr McDon- LOANS & I Emphasizing that this is the maximum allowable Mr McDonald said lower interest rates on insured mortgages may be charged by lending institutions at their own discretion This change has the effect of standardizing interest rate procedure in every insuring office in each of the 4S states the District of Columbia Hawaii and Alaska Reduction of insurance premium has been made on all classes of insured of one mortgages to a flat one-ha- We Offer See -- McDonald REAL ESTATE today's Design 5 "A 24 Suited to Narrow Lot If Porch Is Located at Rear lllttMtl ta&IMt rot MLCl standardizing mortgage rate procedure is now in effect according to an announcement by Acting Federal Housing Administrator Stewart on Improved at ing room long living room with Colonial fireplace rear hall with coat and storage closets cross ventilation in all rooms two bedrooms and bath on second floor attic storage space Detailed building documents for the houses shown in this series may be secured at moderate cost through the Home Building Editor of this paper This service hi presented to our readers through with the Architects’ Small House Service Bureau which Is Indorsed by the United States Department of Commerce Fixed at 5 p c When Money i shed-roo- On Mortgages surplus money in stocks bonds and real estate Over the whole country increased building is being reported homes are being sold investments are being made in business properties and for the first time in years and years economists are advising people to invest in real estate Last month business failures in the country were at the lowest rate in 14 years Each month this year has been somewhat the same Confidence has returned to such an extent with so many people that it will take almost a national calamity to dislodge it again People are tired of all Ihey have been hearing the past few years they are thinking whatla the use life is too short and are again determined to go forward live normal live£ and enjoy themselves and things as they go During the next year Utah will see the greatest building boom it has seen in years Increased building means increased sales of real estate building lots acreage farms and business sites and all this activity will mean increased prices— prices more nearly the real value of Utah real estate D C — A new WASHINGTON record in the volume of business handled by the federal housing administration has been made each t ceeeding week since April 1 both credit and in in modernization mortgage insurance according to Acting Administrator Stewart McDonald Gains 100 I’er Cent For the week ended April 1 the volume of modernization credit reported was $2 026000 with a daily average of $337000 For the week ended June 17 the volume of modernization credit reported was with a daily average of This represents an in$712000 crease of more than 100 per cent for the period of 10 weeks for modernization credit even before the effect of the $50000 provisions of the amended national housing act had been felt The grand total on June 17 was $84767917 Home mortgages submitted for insurance and for which appraisal fees have been paid amounted to $2875000 for the week ended April 1 a daily average of $478000 For the week ended June 17 they amounted to $7391000 a daily average of $1231000 and an increase The of 157 per cent in 11 weeks grand total on June 17 was Features of the exterior of Formal entrance ornamental stoop trellis framing front windows shutters gable roof with small f dormers open porch Features of the interior: Entrance hall with coat closet enclosed center stairway cased opening between hall and liv- design with law Interest Rate mitted approved lending institutions to charge up to 5V4 per cent interest on refinanced mortgages The maximum interest rate on all classes of insured mortgages for new building remains at 5 per cent as originally provided by the national housing act "We anticipate” Mr McDonald said "that one of the important effects of the revised regulations regarding mortgage interest rate will be an added acceleration in the volume of mortgage insurance business With the vast amount of existing mortgage paper subject to refunding the reduction should result in a material increase in acyears tivity along this line" lows Policy of Long Term Loans minimum By BLAIR RICHARDSON WASHINGTON July of the maximum interest rate allowed on all classes of insured mortgages at a maximum of 5 per cent per annum as a means of Steady Gains Porch Passes In Home Life Private Business Fol- PUNNING HOMELIKE CHARM AND PRACTICAL President of the Utah State Realty Association As a matter of The word “confidence" is quite a word fact it is more than a word It is almost aq institution It is something that is with us during good times and it is a thing that is never wih us during large parts of depressions The word is made up of seven let-- " ters— three used in the word twice and four once giving the word 10 letters Our numbering system is made up of 10 numbers and our money is built up of tens and multiples of 10 The word “cdnfidence" means reliance trust a feeling of security in the future and it engenders satisfaction The first three letter in the word "con" mean: To peruse carefully fix in the mind by constant repetition to direct (a helmsman) how to steer The first seven letters “confide” mean have confidence in to trust fully and the last five letters in the word "dence" if spelled “dense” to many cf us means just plain dumb that is something Confidence sometimes is very hard to shake to get out of one’s system yet at other times is something that is very fragile easily broken up or lost Confidence Reappears Just prior to March 1932 it was almost impossible to find any confidence in the whole United States yet almost over night after the of President Roosevelt confidence was again everywhere one wanted to see it From that time to now confidence has been with us but in amounts fluctuating almost from day to day but gradually increasing and increasing until now politicians are finding it harder and harder to dislodge Probably at no other time in our history have people been presented with as many "bugbears” ‘half truths” and “attempted scares" as have the people of the United States since March 4 1932 Mistakes have been made of course and plenty of them but out of all of the tries attempts to improve conditions and experiments have come a little better condition over the country than we were in a few months before First many people who held mortgages on homes would not consider taking home loan bonds — they could not afford the loss they thought they might have the opportunity to take On July 1 this year these bonds were called in and now many do not want to give them up Since 1932 in ever incerasing numbers and with interest rates going lower and lower mortgages and mortgage money have been seeking places for investment and today banks building societies insurance companies and mortgage companies are notifying the communities at large by advertisements that they have money to loan on real estate A few weeks ago an article went out to the people of the country stating that the government had spent more money since 1932 than was spent for the operation of the FHA Records lUse of Front r "-- GS Copyright less Tht Architects Service Bureeu Smell House Inc Tendency Now Toward Using Back Space Not New Practice The past decade has seen a gradual trend in American home building toward the abolition of the front porch Utilization of smaller plots of ground desire for increased privacy and the general desirability of “living in the back of the house" has been the reason for this trend In general the living room or sun porch located either in the back or on the side of a house have supplanted the front porch Practice Not New There is nothing new in this practice European home construction for over a century has followed this same line Today the American home is- designed to give maximum comfort privacy and convenience Garages are built as an integral part of houses in many cases located in the front thus miniifuzing driveway costs Kitchens are frequently built in the front also in easy access of the driveway to simplify delivery of groceries packages and the like Through intelligent placing of the house and by careful landscaping many interesting results are obtained A hedgerow or attractive fence can frequently be placed so as to Inclose the backyard and in this secluded space formal gardens possibly a wading pool or lily pool flagstone terraces and similar improvements can make the rear of a home a spot of great beauty and charm Expert Help Advisable It Is advisable when planning to build to consult an architect and a landscape architect who have firsthand knowledge of the most recent developments and approved practices In home planning Their knowledge and experience will more than justify the fee paid for the services Heat Substantial SCREEN DOOR ar Earning Rate On Realty Aids In Bond Rise Continued Improvement of Securities Follows LIVING ROOM— DESIGN Since the fireplace is the center of interest in the room we have placed two comfortable chairs at either side of it The davenport was placed in front of the windows at in order not to one end of cut up the room in any way This would be an even more advantageous location if the door to the rear hail is omitted as is recommended and this end of the room thus closed on three sides In this way there will be no traffic through this portion of the room and furniture can be grouped for greater comfort and convenience Furniture largely of maple with an occasional piece in walnut will be pleasing the-roo- Curtains: Chintz drapes largely in mulberry with some Ivory blue Glass and green in the pattern curtains of pale yellow voile Furniture: 1 Combination bookstand and side table on it a bronze lamp in colonial style 2 Wing chair upholstered in chintz with a plum color ground and gay flowery pattern 3 Easy chair upholstered in dark green rep with a small design in mulberry and cream A bridge lamp beside this chai will be a convenience 4 Bookcase 5 Davenport upholstered in color chintz identical with that on wing chair Readjustments 6 Drum table on it a lamp to Walls: Wallpaper with cream light davenport and chair of NEW YORK July 13-- Easy ghair upholstered in dark ground pattern not too large or the improvement in real estate bond definite green rep 8 Radio Ciling: Cream wallpaper prices which has been quite con9 Desk chair color of Woodwork: the Stained sistent so far this jear with an av- old 10 Secretary desk maple and waxed 11 erage rise of 20 $fer cent to June Floor: Several shades darker in Easy chair upholstered in tone dark orange figured rep 30 are several significant factors 12 Console table with colonial Floor covering: Rugs with mulThe first is that Investors are bemirror above ginning to appreciate the under- berry ground valued status of many bonds on properties that were unduly deand flated during the depression Back whose position has been helped by a capital reorganization which promises not only further appreciation in the investment but a fair and continuous earning power on it The second is the demand that comes from all over the country for this type of security from people who have the notion that if there is to be inflation an investment in real estate is a good way of hedging against it Earning Power Count A third influence is the improvement in the earning power of different types of buildings such as hotels apartment houses and theaters as rents have been slightly advanced and the percentages of occupancy have moved upward And attendance has increased with 4 bet- ter class of movies There is more business lipg done ift real estoday tate securities than At any preDealer are active in vious period afl of the principal cities of the United States T& broadest markets are naturally in New York City and It is in the bonds ofjrop-ertie- s in Greater New York that the national movement toward issues of this type has been directed However in Philadelphia Chicago Boston San Francisco Washington Buffalo Plttsburghand in a number of the southerif cities where ten years ago there were active real eswhich subsetate developments quently collapsed and left much wreckage behind them there are evidences of the same kind of recovery In real estate and In the Securities associated with it Many'reorganlzations have taken place on properties on which the bonded debt was too high for the earning capacity of the property under normal conditions In general bondholders have taken a realistic attitude toward the situations they are involved They have accepted a lower rate of interest in some cases quite commonly a cut from per cent to 4 plum 7- Homebuilders’ FRAMEWORK 'What are the Important things to watch for when the framework of our house' Is being put up? A Be sure that the framing materials are of good clean stock without defects which will seriously affect the strength and that they are put in securely on the bearings designed for them It Is easy to put in twer nails where four should go See that the specifications (are followed exactly In the type of construction which we are using today "known as balloon framing there are a large number of very small parts Studs joists and rafters are made of comparatively small members Unless they are securely braced together the building will not be substantial This means that joist and bearing partitions should be bridged There should be subflooring and celling securely nailed to each joist or stud and the whole system should be made as nearly like a unit as possible The first step of this whole thing is to get good plans and specifications Get Q per cent and frequently down td' 3 per cent Income Terms Altered In other Instances where the outlook has not been particularly favorable they have agreed to a revision of the income terms which gave them say 2' per cent fixed Interest with a 2 per cent contingent interest If earnings warranted The average jnvestor Is more susceptible to A reorganisation plan which retains the old bonded debt even if It is high but Htftrrt the rate of interest than to one that holds the rate of interest at the old figure but cuts down the capital amount In other words he would rather Clinic an architect to make these and to supervise construction The second step is to get a competent contractor SHINGLE NAILS I roofed my house with wood shingles five years ago The shingles are still in good condition but the nails have rusted out What kind of nails should I have used? shall I do now? What ’ A Galvanized wire or copper nails should have been used A competent roofer can renail the loose shingles and those that have curled through rusting of the nails Q STUCCO TO GRADE Is it proper to stucco a house all the way down to grade? If not where is the proper place to leave off? A We recommend that stucco be discontinued at least a foot above grade line Brick or cement niay be used for the base course If the stucco is run down to grade it is soon discolored and may deterioQ rate the Architects’ Small (Copyright House Service Bureau Inc) Metal Aid9 Roof Where the edges of wood shingles abut or overlap at the hip joints of a roof It is considered good practice to use small strips of copper or other corrosive-resistaflashing They should be bent and nailed in place to fcover the joint between tjie shingles nt Simla Brace Rafters mortgage tion Steel-Iro- n loans for on new construc- $275 below it closes and that is all there Once every two or three years the accumulated ashes are removed from the pit in the basement If someone complains that his A fireplace is too much fuss and bothdoor er to use it is a fair guess that it is 1 a e h with g not equipped with his Made of stile device Pondcrnta Pine Referring again to the ash pit in black painted Ash Dump the basement here is another bit of UUck wire cloth “miscellaneous" metal — the ash door And beside it is a cleanout door to remove soot at the base of the furnace flue Both of these doors Mean must be tight fitting well designed ASK POR SCREEN DOOR BOOKLET securely attached to the masonry STYLES THAT SHOWS VARIED but you One of the sections in a complete The cost is Inconsiderable SIZES PRICES set of specifications carries the la- do not get them if you do not specify conic heading “Miscellaneous Steel them All of which goes to show how imand Iron" That does not tell much ORRISOtl-ERRILLS- Ca The home builder may be tempted to portant specifications are and how overlook it completely but the con- much satisfaction can be written tents are important nevertheless into a few casual paragraphs The comes cna! alert home builder will make surej Under this heading written chutes fireplare dampers ash thatan his specifications-arexpert also by drops wrought iron works angles beams columns and other The Architects’ Small steel members for supporting loads (Copyright Home Service Bureau Inc) A home huilder brooding over his prospective dwelling is not likely to forget the finishes or the mechanical equipment hut even in visiting and studying all the new and model homes he can find the coal chute p the fireplace damper and the may be overlooked entirely If he has an architect they will not be overlooked because the architect knows how essential this modest equipment is to the efficient operation of the house First the coal chute Whether you know it or not this Is a steel affair anchored in the masonry wall with a tight fitting door on the outside that can be opened only from within It Is true that coal can and often is delivered through an ordinary wooden basement window It is also true that even if not battered We cordially invite all who wish to and loosened in time it will be adeAn blackened and unsightly borrow money on real estate to allow quate steel coal chute saves cost of repair and upkeep If the fuel room has no other lighting the window us to explain the advantages we offer may be wired glass instead of steel Second the fireplace throat and in loaning on your present home or damper and ashdrop If the fireplace is to give service these are contemplated building more important thhn the more picturesque facing and mantelpiece The throat for example takes the Liberal Options Low Rates guesswork out of fireplace design Of concerned is so far as draft course there are other things of No Commissions importance— the size and shape of the fireplace and the construction of the flue but these are static When we have a throat made of be opened and closed steel that-ca- n by degrees we get a type of adjustment that overcomes a good many of the factors in fireplace and flue Organized to Serve the Public design that otherwise are hard to control The fireplace throat of 151 South Main Street metal Is an essential part of the from the to Salt Lake City Utah scheme fireplace keep smoking into the room It can be shut when there is no fire on the Loom Large is to it In Building iavor-savin- Fireplace and Require Attention Much M1 PknWSIOIlIRlJrW ash-dro- Rafters which sag due to heavy hearth thus saving heat The ashdrop is the quick way to have his $1000 bopd with a 3 per snow loads may be braced with transfer the added get rid of ashes It ran be opened cent coupon than a $500 bond pay- struts that weight on the roof to the bearing with a poker the ashes swept over ing S per cent ill so that they drop into ths pit I Copyright 1935) partitions For Fifty Years We Have Specialized In Making Mortgage Loans Tracy Loan & Trust Co |