Detroit Free Press from Detroit, Michigan • Page 10

THE DETROIT FREE PRESS SUNDAY, APRIL, 9. 1944 10 REAL ESTATE NEWS AND VIEWS- PART ONE Hps fi (fi nil IN Mi 1 Galbreath Sees Realty in Key Postivar Role Sales Advertising Don Schram New Auto Perry to v. A BY COL. IIEXRY If. BLRDICK- nKvae tr -r- -4.

The Free Press Saturday announced the appointment of Don Free Press Real Estate Editor THE EXTENT TO WHICH REAL ESTATE is invoked in the postwar picture was accentuated by John W. Galbreath, president of the National Association of Real Estate Boards, upon the occasion of his isit to Detroit last week. Home iwnership, he declared, is a key factor in most problems of the reconstruction i MONFY IMWN JjT FHA TERMS f- -I 4 ald F. Schram as business editor, succeeding Robert I who has resigned to join Ruth-rauff Ryan, as assistant to Matthew J. BOND LUMBER "fi! with drrl of attf.tJ Customer family bedrooms, one with an inviting fireplace, two baths and two servants' rooms', bath and service stairs.

There is a large center hall, smart kitchen, butler's pantry and paneled playroom. LV CRAXBROOK-QUARTON SECTION of Bloomfield Hills, this nearly new Farm Colonial residence is offered by Snyder, Buck Bennett, Birmingham Realtor firm. It boasts four VI. 1-3500 ZA at-1 llfll Schram Casey, vice pres- ident" and manager of the Detroit office. Schram has been on the Free Press since 1931, and has been Before You Buy SCREENS state editor since January, 1934.

Perry has been on the Free Press since 1930, and has been business editor since 1940, following- period. As a strike preventative, he said ownership of land is a powerful influence. It will play a leading role in the rehabilitation of the array of men returning from military service and will be an incentive for a vast home building program, which will go a long way toward cushioning the shock of unemployment and materially aid the restoration of private enterprise. Advocating the early liquidation of the large real estate holdings acquired by the Federal Government for war purposes as well as the extensive public housing projects, he pointed out that the proceeds from the sale could be advantageously used to reduce the national debt and at the same time these properties would be returned to local tax rolls. -5 Gain Shown in Building March Home Permit Value Tops Year Ago Maintaining a consistent monthly gain over last year, home building for which, permits were issued in March by the Detroit Department of Buildings and Safety Engineering was 8'i per cent up from the preceding month and 7 '2 per cent above a year ago figures.

According to Commissioner Joseph P. Wolff, permits were issued last month for 388 single houses, valued at $2,080,150 and for 13 two-family dwellings, to cost $120,920, for a total of This compares with 438 singles and 17 two-family homes estimated to cost $2,026,100 permitted in February and 328 single houses and 31 two-family dwellings valued at $2,044,784 in March, 1943. Smce the first of the year plans have been filed for 1,051 single houses and 38 two-family dwellings having an estimated value of 86,0.58,692 and providing accommodations for 1,110 families. In the first quarter of 1943 permits were issued for 618 singles and 83 two-family homes with a total valuation of providing 813 family accommodations. Permits issued in March for alterations and additions to existing buildings will provide 114 additional family accommodations, raising the total for the month to 52S, as compared with 480 in the like month a year ago and 437 in February.

Construction of all types for which permits were issued last month carries a valuation of $2,958,787. In the like month a year ago the total estimated cost of permitted buildings was Aside from residential building, which constituted about 75 per cent of the March total, the only other item of importance was five permits for factory buildings to cost $133,700. current income invested in low-rent housing projects would be exempt and the yield from the operation also would be exempt up to a limited return. Additional earnings would be plowed back in low rents. Earnings would be limited in exchange for the exemption privileges and the exemption would be granted because the projects would serve a public purpose housing low income families and make unnecessary the spending of public funds on public housing.

at LELAXD E. KENNEDY has joined the sales staff of Seldon Johnson, Detroit Realtor firm, it was announced Saturday. He will be located at the northwest branch office, 10339 Puritan, managed by Hansel D. Wilson. Kennedy has been engaged in the real estate business for some time, having been sales manager for Garling Construction Co.

five years as Perry REJSC0 TH. tldVKI WINDOWS Combiaarioa Storm sh Screens mad Weather-stripping all in one unit i I i II il i if Kin- 'i I I t- I td I i -x li I T- -jf' U.IXI travel editor. The change is effective April 22, and Schram will continue the daily column, In the Auto World, as well as supervision of business and financial departments. Reese Honored Marking his forty-fourth year as general agent here for the Provident Mutual Life Insurance Nathaniel Reese was honored Interchangeable Established 1 921 a 30 secooda- Free Kiimnt Liberal Tayment ri Mechanical Heat Cold, Inc. 7704 Woodward MA 7260 Buy from the Largest Builder of Poultry Houses in Mich.

THIS COZY HOME at 24600 Chicago, Dearborn, is typical of the homes in the 101-house project in a wooded section for which Bruton Realty Co. is sales agent. All of them have three bedrooms, two baths and large picture bays. Higher Values Call for Check of Insurance Pointing' out that recent fire losses where FHA mortgages are involved disclosed that many of these properties are underinsured at present valuations, J. Alfred Grow, vice president of Homer Warren and head of the firm's insurance agency, Saturday advised FHA buyers whose mortgages date prior to a year ago to check their property insurance coverage.

The mere renewing of old policies which were adjudged sufficient in the past will probably not provide sufficient protection under present day replacement cost, he warned. "Most home buyers under the FHA plan are carrying the same amount of insurance today that they carried at the closing of their mortgage loan," Grow stated. "The FHA appraisal of the property the year it was purchased is the yardstick they have continued to use in deciding how much protection to carry. However, home values have risen steadily for the past several years, especially in the field of new and comparatively small-sized homes which characterize most FHA mortgage loans. "In addition to this increase in value, the owner in many cases has himself increased the value still further by adding porches, storm windows, recreation rooms or finishing off second floors which were just roughed in when the home was purchased.

"The result of both these types of increase in value is that the unfortunate home buyer who does not bother to check his coverage may find himself, after a fire, with a fully-paid-for lot and perhaps a basement, but unable to complete the rebuilding of his home." last week by the agency staff at a testimonial luncheon in Hotel Statler. E. A. Farring-ton, of Philadelphia, assistant manager SEE MODEL ON DISPLAY Completely Built Ma? oo Financing Resale Homes Seen Aid to Buiklino GALBREATH was particularly enthusiastic regarding the possibilities of a plan proposed by the National Association of Real Estate Boards for broad scale urban redevelopment which would harness "incentive taxation" to the job of clearing slums and rebuilding American cities, outlined last month in the Free Press. This plan, which Is being given careful study by real estate boards throughout the country, would overcome the greatest obstacle to interesting private capital in such projects the high cost of centrally located land, he asserted.

To get land costs down to low levels, redevelopment bonds, issued by local authorities, would carry a low rate of interest and the land cost could be amortized over a long period. The bonds would be tax exempt and, in addition, current income used for purchasing such bonds would not be subject to Federal income tax. Truly low rents would be made possible by low land cost and by cheap building money through the same tax exemption device. Any SIZE 4 x8' EASY TERMS NO CASH NEEDED of agencies, Keese conveyed the congratulations of home office officials. Agency members also spoke briefly.

It was pointed out that Reese, during his incumbency, has brought local insurance in force to more than 40.000,000 with an annual premium income of He is the oldest general agent of Provident Mutual in the country in point of service. He announced that the agency has exceeded its quota for new life insurance written by 100 per cent during the first quarter of 1944. Scientifii ally built of quality mat. riMlH 4'mnplrtc with walU, roftf, floor, door, windows. virtilMt4ir ami haril-ware.

riady to a-snem-hlr. also hsir thrsr in SIO, inxlti Immediate delivery. Out of town orders taken. Open Sunday TO A. M.

to 4 P. M. Monday and Friday F.vea. I ntil 9 fii artiaii -mmm rTi'aalr hit ii.ru anai.fc 'rTif m9nsc Joins Kudner SCREENS 1 1 accommodations for families with low incomes which are not in position to acquire new homes. "By revising state laws, where necessary, to permit direct investments in rental housing and in the production of housing for sale by insurance companies, savings banks, savings and loan organizations and other large holders of investment funds, construction of a large additional amount of new housing would be assured.

Moreover, much progress would be made toward eliminating the ups and downs in residential construction. "The existing system, under which most new construction is financed through mortgages, definitely tends to encourage these fluctuations, since financing is most easily obtained during periods when business activity is at a high level and the income from real estate investments is most attractive. This leads to overbuilding and to a consequent downward cycle in the volume of construction." Anthony G. De Lorenzo, for the past two years chief of the Michigan bureau of the United Press jwsw A i atinn3 Construction of new homes for the millions of American families who will need and want new living accommodations after the war would be greatly stimulated by providing adequate financing facilities for the resale of existing residences and by encouraging direct investments in housing by large holders of investment funds, according to Frederick M. Bab-cock, chairman of the postwar committee on finance of The Producers' Council.

"Many of the families which desire and can afford to purchase new homes are handicapped by the fact that they already own older dwellings which often cannot readily be disposed of." Babcock said. "By revising the policies of the FHA in such a way as to permit that agency to insure loans on existing construction with down payments as low as those permitted In the purchase of a new house, the resale of the older properties would be gTeat-ly facilitated. "If 'used' houses could be resold as conveniently as used automobiles have changed hands in the past, construction of new homes would be stimulated and the large number of older homes that would become available would go far toward providing suitable housing Order your window and porch screens now. Avid the rush. Prompt sonice.

Many Sizes in Stock. 1 Mesh Galv. Wire, Clear White Tine, Mortise and Tenon Construction. I has joined the I' fi t' publicity staff GARAGE FLOORS AND DRIVEWAYS Term-. Kast or West Side Call for Vrre F.Rtimatea OPEN SIMIAVS I NTH.

3 P.M. MILLER CONTRACTING CO. Ifi.TKI River VK7-lfi0 t7 E. Mile Rd. TW.

1 Call in Your Sizes for Free Estimate 21x24 2 24x2 1 I.T.. SI. 48 All Size Combination Doors in Stock KEEPING THE INSULATION around hot water pipes and boilers in good repair will increase heating efficiency. of Arthur Kudner, Detroit office, it was announced Saturday by S. D.

Fuson, vice president in NIIA Takes Over Building Controls The National Housing Agency has now officially taken over operation of L-41, the building restriction order, by agreement with the WPB, it was announced last week in Headlines, news bulletin of the National Association of Real Estate Boards. Allocations of material still remain with WPB. but NHA officials have indicated that they intend to persuade WPB to increase allowable new construction as fast as the materials situation makes it possible and to increase the permitted types of construction. Krai isc to Address Brokers' Division Paul E. Krause, corporation counsel, will address the Brokers' Division of the Detroit Real Estate Board Wednesday noon in the Olde Wayne Club.

He will discuss the operation of the City of Detroit's real estate department, it was announced Saturday by Philip C. Baker, chairman of the division. Carl H. Plumhoff will be in charge of the program and Krause will be introduced by Mrs. Harriett D.

Kelly, vice president of Homer Warren Co. and a member of the division. aVmiiPmia PICKET FENCE 50' Complete Materials I)e Ixtrenzo relations. De charge of public RE-ROOF NOW 167-Lh. HEXAGON-ASPHALT SHINGLES $47.50 LARGE STOCKS ON 1 1 ANT) Lorenzo will do public relations 27 BRICK HOMES III DEARBORN WOODS NOW UNDER CONSTRUCTION Credit Terms POST RAILS PICKETS NAILS AMPHIBIOUS HOUSE Something ultra in the "dream house" line is the submersible house equipped with wheels and LINOLEUM, INLAID Variety of Colors.

3 Day Service. Guaranteed Workmanship on the Fisher Body account, replacing Frank Armstrong who is being transferred to Kudner's New York office. Both changes become effective immediately. Paeific Mutual Report Pacific Mutual Life Insurance Co. reports total assets at the end of 1943 of $273,367,335.

an increase of more than $10,000,000 over the previous year and more than over 1936. United States 61 YEARS V4 Armstrong's Linoleum Installed So. Yd. SI. 39 lUUCniATC Wall Linoleum, inc.

Metal Trim Sq. Ft 39c I a v. POSSESSION "IT PAYS TO CONSULT CURRIER" I' ii.i na jim, jljiauaibiij miii ai'W aa iat ni i 7 i -St- 3 4 19980 Canttrbury if rr Dfiva HOMES BUSINESS PROPERTIES er W. 7 Mill n-ZZ I 4 ent bond holdings account for S73.2SS.S91 th assets. 26.8 per cent of the total, an increase of more than LUMBER COMPANY Rear ttiV Mor rlsht Tr thtt titlfilhr killt 9-mtm tertek homt In fintt residential nelflhfc'irheM.

Ungual feature inefatfa den, breakfast room, lavatnrv en 1st, 2 baths on 2nd. bath en 3rd. Landca(d SO-ft lot. 2-car vtiraa. Terms.

Phone for appointment. HOMER WARREN CO. Dlmt Bid. CAdillae 0321 or TBinitv 2-720S low i as 3 ANNAN A I bach ten 000 since 1936. Mortgage Bankers to Hear Hall Willis H.

Hall, manager of the industrial department of the Detroit Board of Commerce, will be the guest speaker at a luncheon meeting of the Detroit Mortgage Bankers Association Thursday in the Olde Wayne Club. His topic will be "Detroit Todiy and 507 Van Dyke TW. I -2 1 00 20 1 E. Lincol Royal Oak I I 89 4 fal Ettatt Exehant. Int.

300 Lafavatta Bldl. CA. 7700 SI Schaefer Rd. HO. 1 200 R.

0, 7600 ELmhurst 6280 FORD-V-NEER' Total life insurance in force atjthe rv, of the year was $622,659,773. The Detroit agency under E. Walter AIhacht.cn, general agent, showed a 35 per cent increase in new life insurance paid for and a 16 per cent increase in new premiums over 1942, with an average production per man of nearly a quarter million of new life Insurance. Norman A. Herberts led the agency with a half million.

rock Sodta See Model on NIGHTINGALE, North of Cherry Road and on KINGSBURY, South of Ford Road These homes are "Gerhardy Built" with 8" brick exterior walls, 2x6 roof rafters, all joists and studding 1 6" on center, and in fact the same quality construction "Gerhardy" customers have been receiving for the past 1 5 years. I consider it a great privilege to represent the Gerhardy Construction Company in offering these homes for sale. L. R. RITENOUR Realtor 1351 North Telegraph Dearborn 0900 ON 84'x26'x9 HOMB Spring Is fhe Time fo Repair Your Home 317 Postwar House Topic of Lecture by Keck George Fred Keck, noted Chicago architect, will give an illustrated talk on "The Postwar House" at the Detroit Institute of Arts, Tuesday at 8:30 p.

m. The lecture is the final event of the year in the program of the Metropolitan Art Association. Protect Siding Xeiv Distributor 3 ft. by ft. she-ta.

-ln. thlfllt. sdjtea. tit CO Labor and Material Complete! For Free Estimate Call LE 7137 nuir, ahiplap Par 100 aq. ft.

huff, ahiplap I tiJU In conjunction with the beginning of its spring advertising campaign. Chester A. Beins, sales Hexagon Shingles Fint r-roofinr ahintio on th msrket. Easily applied. CC Per 10tt q.

ft 4iQ3 Roof Cement Plastic cement easily applied will eliminate roof leaks. Fn. Per qt. OUC Grass Seed Expert "Plant Now for OCf bet results. Lb l9 ukuTWKunv njTaa rAD IF YOU ARE INTERESTED promotion manager of Hy-grade Food Products Corp.

of Detroit, stated that in 3 OUTSTANDING VALUES Fence Pickets 3q Fence Posts 5Qg Metal Eavestrough Metal Downspout "h9 ,20 Kern-Tone to elct fl) ftO BUYING OR SELLING, Call Andrew LMaloti, Inc. Fairmont Calcium Chloride TTiH reduce dampness in your bae- Creamery Co. 21 will act as one 3140 ALICE DEARBORN Turn South Off Outr Drive 1 Blork South of Mich Iran -J ment. Draw? moisture on1 oiiick- Rrat Ftntm SpriatitM ly. Per ICO lb.

Si RA 9600 415 Griswold Street Beins of its distribu 1.94 bag. Ci90 from. Gallon Yigoro The perfect fertilizer. a. Rlnthac Prant r1r poinied.

vv Per 5-1K sack notched. Each ERTY PROP Folding Chairs R'J rr 1 or nn Steplodders 42c ft. A AGE ENT 19 lit i I i Garbage Cans lcalMn i7.c Gsi vniz.i with rnvpr. I-imit 2 tn I "Good Property Management Pays Extra Dividends" DOORS Interior and Extr1w Whi Pin, AM Sf and IVirn I 14 ru'omr. Erh FINISH THAT EXTRA ROOM WITH NON-CRITICAL MATERIALS Smith Bisschop Co.

Income Property Analysts RA 3666 Ds luxe 3 bedroom horns with tile bath, recreation room. 40-ft. lot. Close to school and bus. Ceiling Tile and In many beautiful shades.

Easily and quickly in Wood Grain Sheetrock Knotty Pine Mahogany American Walnut, large size panels, quickly installed. 4'x8 per sq. ft. OC FITTINGJ $7.20 stalled. Per 100 sq.

ft 6609 Forrer Ave. Watt GrMnflaK. Soath af Warrta 7268 Plainvlew Near EterirMB anal Watt Warrta tors in this area. The current campaign consists of a series of ads featuring Hygrade products. Tnhficco Table Elects The Detroit Tobacco Table, at Its annual election of officers Wednesday in the Olde Wayne Club, tendered a testimonial to Retiring President Henry A.

Egberts, of Cunningham Drug Stores, and Bud Mandel, retiring vice president, was singled out for meritorious service. During its first year the Table has increased its membership from 10 to 105. The new officers are: Harry P. Stamm. of G.

H. P. Cigar president: Harvey W. Ewald, of Detroit Free Press, vice president; Harry Behrmann, of Charles Becker Cigar secretary. Plans have been completed for sn anniversary dinner party Friday in the Crystal Ball Room, Book-Cadillac Hotel.

Representatives of leading cigar and cigaret manufacturers from New York will be honored guests. Appointed by Gever, Cornell Newell, Detroit tnd New York advertising agency, Rnnounced last week the following appointments: Jewett Allen as an art director, Leslie Munro and Felix M. Sutton, of the copy department, as associate copy directors, and addition to the copy staff of Barbara Fender and John Mason. Allen formerly serveid as art director with Abbott Kimball Caples Co. and Marschalk Pratt.

PROTECTION AGAINST MOTHS Aromatic Cedar Closet Lining, per sq. 10c Lumber for Repairs and Maintenance We Still Have Good Stocks Let la Fiicure on Your xt- Job and be sure of comfort S3 II -1j iJ I'll i(JS the whole year 'round 1 fst -1 In ill $29.42 MONTHLY Ta ttrael lata J-aMTmaj aaml.li. All Haia if at fmturai. 35 ta 44-(tot latt. Strtat i at.

Only $350 DOWN Na 3 aatjraoaii, tilt ftattrat. aa'ta! ttratt: 40 ft. lota. FV. 5000 oL- James Couitni Highway at i Mil Rd.

CITY CONVENIENCES (or your after the war horn. li irr, IWtroit. Mirl(, fnantry ttmooHar and low tax: h(vmftt FHA 1 fiOtt ta lsnit. tin. schnel; Models Open 11 to 8 Daily, Inch Sunday BRUTON REALTY CO.

i DOWNRIVER YARD 3324 WEST JEFFERSON Phone Trenlon 0509 aporoftf; a tammamtv. HANNAN REAL ESTATE Ine. Brxnrh Offir: RFtiforrt TIIS OrF.N I1AII.T nd SCNMV PURITAN-ARDMORE VE. 6-7230 ESSMi.