The Courier News from Blytheville, Arkansas on May 16, 1944 · Page 6
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The Courier News from Blytheville, Arkansas · Page 6

Blytheville, Arkansas
Issue Date:
Tuesday, May 16, 1944
Page 6
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six BLYTHEVILLE (ARK.) COURIER NEWS . BETTER HOMES TUESDAY, MAY 16, Warns Against High Appraisals Runaway Real Estate Prices May Follow, FHA Official Says Runaway real • estate prices and possible later.collapse may be the result of.:. inflated prices nnd excessive .appraisals in the existing housing market unless a concerted effort is made now to hold the market in line, Aber H. Ferguson, commissioner of the Federal Housing Administration In Washington, declared in a statement ; tills last week . -, "While evidences of Inflated prices' on existing 1 houses'are already present, the situation is not y'cl so far out .of line ns to foretell inevitable 'collapse, Mr.' Ferguson sold. "However, c xlstlng houses must be watched with pariiculiu caie to avoid valuations : and mor(gage commitments that may be subject (o deflation In ' the postwar period and ,to avoid contributing to inflation," he added. Indicative of the. Increased danger ol inflation in real eslatc /prices immediately after the war, Mr. Ferguson said, are (1) an estimated ntitionnl income for 1943 ot $H7,- 000,000,000, the highest on record; (2) more than $95.000,000,000 in liquid assets in (he hands of individuals; <3) an estimated home buying potential of more than $3,000,000,000 that may result from present .proposals to lend $1000 to war : veterans to use as a down payment on a home; (4) a tremendous pentup demand for new housing; nnd.(S)' n limited production capacity in the building indus- warflme restrictions have been try during the first year after lifted, which has been estimated by the FHA at 400,000 privately financed homes costing about 52,000,000,000.' With a limited supply and nn unusually large demand for housing in r the first year after the mil 1 , Inflationary possibilities are very great, he said. "Neither mortgage lenders nor builders alone can control the situation," he added. "By adopting a • Joint policy of resistance lo excessive appraisals, high' prices and high, pressure salesmanship, (hey can perhaps have some influence in restraining the market! But, most, builders and lenders dp not have Shortage Ot Dwelling Space Most Acute In U.S. History WASHINGTON, May 15.—The National Association of Real Estate Boards Saturday reported that the nation's rcnl estate, under (lie economic pressure of two uud a halt years of war, Is being used more Intensively than at any time on record. The association la its 42n<l semiannual survey of the national renl- ty market, disclosed the most general shortage of dwelling space In history, a high volume of sales nnd an unpiiialellcd demand for the "family-type" house—the one with two and three bedrooms. The survey, which in 21 years has IK com o a standard business index, was designed to determine the effects of two and a half years ol war on the nations real eslatc plant. It covered 37C citlos nnd represents the carefully checked data and opinion of local real estate boards In those cities, Shortage of Dwellings It was found that there was: 1. A shortage of single-family dwellings in 92 per cent of the reporting cities as compared to BO per cent six months ago when the previous wartime survey wn.s made, Only 2 per cent report oversupply, There Is an undcrsupply of npar 1 .- menls In 83 per cent of the reporting cities as against 75 per cent six months ago. Only 1 per cent report oversupply. This is an unprecedented situation, nut already observable In a few cities where employment While desirable factory space for lease is dlfflcull lo obtain, jiome is available In 33 per cent of the cities. The Ngrthwest. has the most of this type of space to let. 0. Improved farms lead all market demands In many communities. Farm selling prices are higher than they were n year ago In 85 per cent of the rcporllnf; communities. One community reports a drop. Regionally the North Onlwl stales show the most general advances, with 91 per cent of Ihcir communities in the up column, 1. Ample financing continues to be available for real estate.invest- ment at interest rates that have shown no wartime rise. IndlcaUuK the same general situation for capital, today's big buyers arc closing tleuls for investment holdings an Hie basis of a comparatively small nei yield. SMOO V'rli'c ItuiiKe ]>o|tiil;ir f). The family sl/.e dwelling, with two or three bedrooms, ut a price around $5000 Is the kind of urban property that is ju greatest demand ludny. There Is a marked preference for the close-in urban horns mprovemonts Are Made To E. B. David Property Improvement to the Eddie B. navid home, 227 East Kentucky, which Include the addition of a wo-car garage (o Hie west of the muse, nnd painting of the exterior, window .shutters, and window lioxes, are expected to be completed this week. The attractive.clapboard bungalow was repainted white, and shut- icrs and window boxe.s were repainted green, good : When Better PLUMBING SUPPLIES Are On the Market We Will Have Them For Sale. has passed its peak Is an easing off of the extreme pressure for housing. ' 2. Selling prices tor real estate, especially for residential properly, arc higher than a' year ago in W per cent of reporting cities, at least as high In 90 per cent of the cities, and lower in only' 1 per cent ot the cities. For those places and Ihosc tyues of properly experiencing a price rise the median advance was 12'.(. per cetil. 3. Volume of sales Is higher than a year ago hi H3 per cent of the cities, at least as high In 03 per cent of the cities and lower in only I per cent of Ihe cities, llul some cities expect their sales volume actually to fall oil, despilo demand in the months ahead because of Hie scarcity of listings. For Use By Buyer 4. A very large portion of today's buying Is for use by the buyer. In urban property the reports estimate average, of approximately, II per cent current sales are tor the buyer's own use. Approximately 1C per cent are [or investment. According lo local estimates,'nn average of approximately 7 per cent of the buying is in hope of.a'.profUablc resale. The same condition largely prevails in farm transactions. Coi.i- immiUes estimate an average ot 15 per cent of such buying is by farmers for their own'use. In 17 communities out of every 100 farm acquisition Is solely for vise. Investment buying makes up 18 per cent of form purchases, being a somewhat heavier factor for farms'than for urban real estate. For farms, as for urban real estate, only about r i per cent or the buying Is estimated to be primarily for resale. 5. Warehousing is now the scarcest type of industrial space, members of the Society ot Induslrla'. Realtors reported lo the assocla tlon. A veiy limited amount of such space is available in 25 per cenl of the cities, with most space to be had in Ihe South Cenlral sections. wldi gardening Ituul transportation. Old houses are In market dcmuiul very generally nt higher prices Dinii a year ngo. Tills menus houses i.|) to 50 years old, nnd In a lev! of Hie cities houses/of 100 years or more. Hut the fuel thul very ohl homes ni'c not so generally of the market ns they were six months ago would Indicate tlial we liavo reachcil or linve passed Ihe pcnk in hominy demand. In houses, properly for immediate occupancy Is nt n premium. Will draft of fathers for Hie armed forces release miy large Jiuinbei of dwellings? "No." say 8G |icr cent of the returns. "Yes," say H per cent of the, reports. A majority of the cities (50 per cent) expect Hint wlicrc families of drafted men do leave their present homes the houses released will he largely for rent rather thun for sale, There Is considerable regional variation It) innrkcl activity and also In selling pi-Ice. Livelier market thnn n year nyo. Is reported in 04 per cent of the cities In the Southeast region nnd 82 per cent In tlii; Southwest region. Hlglier sell- Ing prices have struck 100 |ier cent of (he Southwest cities, 9fl per cent of the North Central cities (will none lower) 84 per cent ot Ihe autlicast cities, mid 00 per cent o tics In tlic Great Lakes region In general the largest cities hav ic most genera! market, nrivmiee ml most general rise in rices. the facilities for determining the precise point nt which their own appraisnts nn<l prices reach the danger point, nnd no way of gauging their effect on the national ec- ij onomy." E. C. ROBINSON LUMBER CO. Friendly Building Service Don't put off painting where it is needed! Paint is the first line of home defense. During wartime il fakes on a new importance in reducing repairs and replacements. PAINT NOW WITH Monaghans Buy Stevens House On West Ash St. The C. S. Stevens home,, 001 West Ash, has been purchased by Mr. and Mrs. Matt Monaghan, who >lnnt to lake possession this week, The two story white (mine house which has four bedrooms nnd two !>aths, is located on n corner lol Features of the home Include n General Electric heating plant ana an attic fan. Elliott Johns Purchases Residence On East Davis The while stucco homo at 220 East Davis, formerly occupied by W. C. Walklns nnd family, has been purchased by Elliott Johns from J, Nick Thomas. The five-room house features butane gas heating. Mr. and Mrs. Johns moved into their new home Friday. Landscape Your Grounds Terrace plaiitiner includes slonc covering ot wmtercrccper and periwinkle, wilh wisteria climbing over Hie doorway, ami Juniper' and lew evergreens alo«K the stairway. I Bar Harbor, Waukegat), Andorra and prccumbeus are widely used. With the exception of procumbeus, which retains its green color all winter, Junipers turn slaty- purple in autumn anrt winter. Broad leaved evergreen vines sucli as the several cuonymns rad- icans .varieties, English Ivy varieties, Periwinkle and Packysandra arc^ useful both on sunny slopes and ] in shady places where a lawn Is | not successful. Euonyiiius is a low) procumbent shrub, trailing, rooting or climbing by root-like hold- fasts on the stem. These plants, commonly known as evergreen winter creepers became of the variation in growth habit, may be used as vines, ground covers and, as small bushy plants. Recommended are the varieties vegeta, with fair sized leaves and delightful pinkish-orange fruits in autumn; col- era ta, whose foliage assumes a bronzy color all winter, and car- rierl, with lustrous leaves ami vigorous growl)). English Ivy nnd Periwinkle will tolerate considerable shade. ARE TERMITES INFESTING YOUR HOME? I N 0 T I C E Nollce Is hereby given thnl the undersigned will within the time fixed by law apply to the Commissioner of Revenues of the State of Arkansas (or a permit to sell beer at retail at 500 W. Ash, Biylheville, Mississippi County. The undersigned states that he is a citizen of Arkansas, of good morel character, that he has never been convicted of a felony or other crime Involving moral turpitude; thai no license to soil beer by the undersigned has been revoked within five years last past; and that the undersigned has never been convicted of violating the laws 'of this state, or miy other slate, relating lo the snl« of alcoholic liquors. Cozy Inn Cafe Lawyer Dangcrneld. • Subscribed and sworn to before me this 15th day of May, 1944. Samuel P. Morris (Seal) Notary Public. My commission expires Sept. 191G. Clear Lake News The Women's Missionary Union of Clear Luke napllsl Church met 'luirsday afternoon at the church •111: 14 members present. The meeting was in charge o( the resilient. The Btble study, taken ram the Oth chapter of Matthew, vos given by Mrs. 'Bettle Worsley. Several songs \vcrc sung and prayers vcre given by Mrs. Mamie James ,nd Mrs. Dan Beard. Mrs. L. O. Scott closed the mect- iis wllh prayer. During (he Spanish - American Var, American troops landed at 'uerto liico on July 25, 1808. HV HBMIY L. PUKE Written to,- NKA . Plants suitable for ground cover purposes are divided into two types: U) those that are distinctly gioiuid covers, and (2> those Hint are small dwarf plants but not inclined (o spread. Terraces and steep banks usually demand a covering of some sort and can be made a (liing of beauty by planting some of the evergreen ground covers .such as the spreading junipers. As a substitute for grass In heavily shaded areas, beneath trees and near buildings, ground covers such ns English Ivy and Packysandra oil™ answer the problem. Some ground cover plants have a limited use and will not flourish or be effective in some .localities. Some grow vigorously and cover a wide area in no time. Soil nnd sunlight requirements vary greatly and should be carefully considered be- 1 fore purchasing nnd planting. Deciduous ground cover plants, worthy of recommendation for, slopes and terraces include the! two well known Hall's honeysuckle, 1 Icniccra -japonica halliana, a vine which seems at home everywhere. I Rose Max Graf, a hybrid trailing', rose. Is ut Its best when allowed to. develop unrestricted. Its pure pink flowers and characteristic rugosa foliage make a wonderful sight. Xanthorrhiza apiifolla, shrub v ol- Icnv-i'ooi, spreads rather rapidly, grows loosely to a height of 12-15 inches. Evergreen plants for terraces and steep slopes include' Sargent Juniper, low spreading and slow growing. It forms u dense mass and seldom grows more than a foot high. Juniper and its varieties, Approximately U,800.000 words are spoken by the average man every year. *D£ATII TO TERMITES Prepared ol 3 toxic bjic which ii recognized a one cf Hie moit effective ol all chtmiol! in the t«- roile cortlrol fielrf. "HowtoTcHandNVhiltoDoAbout U 11 To make cciljin, come in or write ui lor FREE folder on leimires. Idling where lo look, lio» to leM, Iheie habits, and [low you CJ.1 Ulily and qjjck- [y rid your hinie ol them yourself. DELTA LUMBER CO. Asbestos Found In Many Lands But Mined In Fey Although asbestos is mined in large amounts in only a few countries, deposits ot the mineral arc found in almost e ver v part of the ! world. Hotli the United Slates and! Canada produce asbestos, but it is still necessary to bring in large quantities from overseas to meet nmmifiictiiriiiK demands. LANSING, Midi. (UP)—Bounties" paid for killing predatory animals in Michigan Increased 3J per cent, in the last 10 months, according to the state conservation commission. Michigan trappers and hunters collected $30:205 in slate premium payments [or destruction of unwanted animals in the 10 months period ending April 30, ROOMS REDECORATED IN 3 HOURS Paint Over Wallpaper? Plaster, Brick, Etc. TacMdi coma* In poilt form. Con bi nlxtrf h |uil < |iftyl AbioMdy no mtn\ N* n«id fa f<rap« off thafcby old wallpapM. .• Ifi on* big surpdw »ft«r atiothw -wh«o you tedecorata « room wlti Pittsburgh TVchlcU. On* oo«t it iuO- fUot em eld m]lp*p«r w ethv •utfim*. And that on* KM* m«y t» WPlM 114M Ann two hour* «ni <rt«« ta am hoar. You o*a •rtuilly taf «p ptctum 60 miautot tftw pclQtfa* via 7eeUd«l A»k m t* flv» ytm ttu whol» itory of thi« "»•*•• d*;r*los>OMn« k wmli jHOat, walti may b* quietly watW with mllJ *ovp and Vraltr. •AM ID I MM.OM AND WMITI PITTSBURGH PAINTS HUB BARD Put New Cheer On Your Own Four Walls With These Gay, Spring Wallpapers . .... Now !h;U Spring is in flic air . . . and you've ' jfellinjy ;ill scl for a grand Kla.v-;il-homc;sumnier . . . it's lime In lliinU ul' ynnr own four walls! I5e sure lliey look llicir moralo-booslms host by decora'ting now with 'our new S|)rin.^ wallpapers. We bitve a pattern Hull's .UJST RIGHT for every room in your home. Why not conic in and miike your selection today? lOc Per Single Roll and up FOR ALL PURPOSES 100',: Pure Outside White 3.40 per gal. Semi-Gloss Enamel 3.50 per gal. Porch & Floor Enamel 3.50 per gal. White Enamel from 2.50 per gal. up <S J4 .>- 1 "><~^ |f TRUECOLORS-TMY !|V MAKE YOUR Jr FURNISHINGS LOOK ' ^ SO MUCH LOVELIER, Have you heard about this AMAZING NEW KIND OF PAINT? 2.25 Per Gallon • clearer, truer colors • dries in 40 minutes • covers with one coat MURAL-TONE WALL PAINT Blythevilte's Only Exclusive Paint & Wallpaper Store. ANSAS PaintvGlass& Wallpaper Co, 105 E. Main Phone 2272 ROOF THAT The durability of a roof is something you pay for tin failh... based on the reputation of the manufacturer for using quality materials and firs! class workmanship. Ruberoid has such a reputation for Ru- baroid Roofs have given 25-30 and even \i 35 years of service. Lei us show you fn the beautiful colors, textures and shapes of the many types of Ruberoid Asphalt Shingles. Select the kind i p -i you like best './i and buy a roof ^S\ Jfj Dial endures. KU-BIR-OID j&fitafr StiIN&tfS Delta Lumber Co Blytheville's Only Home Owned Lumber Yard 204 iN. Second Phone 497 BE PATRIOTIC... invest in WAR STAMPS and BONDS, • Then save money by carrying'out needed painting only with KEM-TONE .'. . and buy yourself more War.Stamps and JDonds with' the "difference'^/ ~~" ••'. Here's how'you ssve~time .-, .trouble and money with KEM-TONE: 1. Ins expensive^.', one gallon does an average room. . 2. XEM-70NE covers most wallpaper?, painted walls and ceilings, wallboard, basement walls with one coat., '3. KEM-TONE applies like magic. 4. KEM-TONE dries in one hour. ROU IT ON WITH A ROLLER KOATER TRIM ITiWlTH PER ROU FOR BEAUTIFUL - DURABLE FLOORS SHERWm-W/LUAMS FLQOil-EN^MEL is " A tougli, long wearing enamel for wood, linoleum anJ cement floors. D/icj bard. Washable.' $, 1 .Quirt HARDWARE

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