The Daily Banner, Greencastle, Putnam County, 12 August 1939 — Page 3
THE DAILY BANNER, GHEENCASTLE, INDIANA, SaTFRDaY, aLGUST 11', 193S.
amm rgiMES pi Build ♦ Repair ♦ Remodel ♦ NOW!
Eight Room House’ Now 'Possible on $35 Salary
|rs h, inch of the cur-
»t upawing in the aildinc trade is ae to the thou ' : |Ms of small >mes being built ir moderate • in-
1, me families who
Mfponed building iroagh the de-
hmtm years,
market is be
if stimulated by auders and archi-M'-'iHiimb who have roufht forth at-
ir». MKtf but eco^
m j
-v /J, f" k
lad
had h inddM
by the apparent spaciousness added by the plate glass mirOW :|r over the fireplace, and the cheerfulness of the large windows.
IVf NEW YORK.—One answer to rs ^ major problem of the building V® idustry—that of designing an 'Kf 1 (tractive .buti.‘economical resiou ldhence within the reach of the jssn 11,000 a year man—is provided
iich y the No. 1 model home in tlie Town of Tomorrow" at tire New
5ral, 'ork World’s Fair
This "dual duty” demonstraton house was planned especially i- or the fadrily in t . S35 to $r.o a , veek income group and is so de-
that each of its four to Ibally “two-in-one," all the conveniences of
igned
— ooms
Im! iiroviding all
•grt^roong»e . v ,
f the Fair’s No. 1 home, accordrg to W. .Wadsworth ;'i. Elector Of the National 11. imr v luilders* Bureau which is sponoring the exhibit, is its emphais on detidls which appeal to tire s h'* 1 ousewife and lighten her work. “Built-in plate glass mirrors rstalled in the liva... I .. in am! raster bedroom have caused
ruch favorable comment for tire ray they contribute glamor and tyle to the interior The doorize double plate r, n ae bedroom have proven popular
Now’s The Time To Plan * FALL M REPAIRS
SI
ISimjug the next few wer-ks the fanner will have some spare tlma and we are suggesting that he put it to good us". Before VWI It would be a wise plan to do some fixing up around the !»"*?%*' burn needs repairing or re-roofing now is the time to datt. If the posture truer is weak ill - veral pla-es, fix it now. If you weed to fence in some more land, get started on the job as umu m possible. Perhaps the house needs some rn|*alrs. If so, get them made heferr rail. T«u will find at Metr.ger’s all th- necessary materials for Axing up about the farm, and we will tie glad to have you call (hand let US hrl|, xou figure out th ■ lost Moiirv sprut in amking tmprov rmrnts on the farm is money well invested. METZGER LUMBER CO. 117 W. ntAKKI.lN STREET PHONE MS
Manhattan Road Home For Pitts
smical Houses within the purse range of the $35-a-week man. The ss 11 to. 1 model home (top) in the “Town of Tomorrow” at the New •rk World’s Fair is an example. Sponsored by the National Home
allders’ Bureau, of which W. Wa ‘
JT
Wadsworth Wood (upper right) is di-
the home is of the dual duty type, each room designed to purposes. The living room, shown below, is distin-
with the men as well as women," Mr. Wood commented. “This is an example of how the speculative builder or landlord can increase the rental value of a property and give an air of.spacious-
ness to small rooms.”
The No. 1 model home is also distinctive for the manner in which single rooms arc so designed as to be adaptable to several purposes. The master bedroom, for example, also serves as sewing‘room, household oil ice and correspondence room. Its “convenience wall,” contains a sewing machine, ironing board, typewriter stand, files, drawers and cabinets. When the wall is closed, one door size mirror gives the room a feeling of spaciousness. The pther mirror swings out to provide that “fore and aft” view appreciated by men and women alike when they arc dressed to step out. c “The American building industry has a potential market of four million houses for families of moderate income,” Mr Wood said. “But builders must demonstrate locally that low-priccd residences can be comfortable and pleasing to the eye to tap this market.”
Questions - Answers
Q. What causes mildew to form on outside painted surfaces ? A. This is frequently due to the ! fact that the paint is soft because ! of excess oil and the area whore the , mildew forms is damp or well shaded. Q. The tiles on my bathroom wait have small brown lines running through them. Can anything be done to get rid of them? j A. No. If you object to this, the only thing to do is to replace the tiles. Q. Will the installation of a kitchen fan prevent odors from penetrating the downstairs of my home? A. If a vent fan does not entirely eliminate cooking odors, it will at least make them much less noticeable. Q. The flashing around the chimney is wearing out in places. Can it be patched? A. If this is the case, it would be best to replace it and not attempt patching. Q. Is it necessary to wax a floor that has been painted? A. By waxing such a floor you will prolong considerably the life of the paint. Q. Arc handrails necessary on stairs? We have none in the new house we have purchased. A. At least one handrail should be provided on all stairs.
NOW
Is The Time to Check It Over Have your furnace checked anil all ncerMHary adjuatmentM made now while the weather Is warm to make sure that you don't vhiv ir all next wnter. Give us a ring now that your order can he taken care of in plenty of time. C & B Tin & Furnace Shop b. j. crimiK II E. Franklin Phone 17
Three and a half miles out on the | Manhattan Road the Pitts Brothers | are building a one and a half story i home for Donald Pitts. The home faces north and when | finished will have weatherboard aid- j mg, green asbestos roof and a brick j porch. On the first floor there are three rooms, living room, dining room and kitchen. The living oom will be 24’ by 13’ and will have a brick fireplace at the west end. At the east end there will bo an open stairway with an archway separating it from the living room. The dining room will have built in corner closets while the kitchen will feature built in cabinets. On the second floor there will be three bedrooms and a bath. There will be a full basement with a furnace room. Among the other fatures of th-} house there will be rock wool insulation. All materials for the home are being supplied by the Metzger Lumber Company.
Spacious and Attractive
FHA Reduces Its Pease Home On
Interest Rates
STORY A N I) A HALF HOI'S.I HAS SPACIOUS LIVING ROOM
HONIE-BI ILIHNC. MORTGAGES WILLBF OFFERED TO PCBLU’ AT I TO »', PER CENT.
•' ■ v*-: ■ •
ifl A
Combining a number of elements making fur good living, this' home oilers the answ er in many a homr-seeker's ipicst. The portico ullords an ideal place for meals, situated as it is immediately off the dining room. The Federal Housing Administration plared a $7,2.VI valuation on the pro|M-rty u%'l insured a $5,800 mortgage.
First Half FHA Home Construction Shows 8(K}r Gain Over 1938 Period
Construction of new homes under the FHA program during the first six months of 1939 showed a gain of appi»ximately 80 per cent over the corresponding period of 1938, Administrator Stewart McDonald announc-
ed.
Since March 1 an average of more than 500 houses have been started under FHA inspection each working day, Mr. McDonald said. Virtually all of these houses are small singlefamily houses valued on the average at approximately $5,500. In the first half year small-home mortgages selected for appraisal bv the FHA amounted to $602,000,000. as compared with $455,200,000 in the first six months of 1938, an increase of 32 percent, Mr. McDonald said. He pointed out, however, that a much larger proportion of the total involved homes to be constructed under FHA inspection, with $410,200.000 of this year s total involving new houses as compared with $243,500,000 in the 1938 period. 33 Per Cent Increase Mortgages accepted for insurance during the first six months of 1939 amounted to $367,845,000. ns compared with $277,370,000 in the 1938 period, an increase of 33 per cent. Of this amount, $249,000,000 covered homes to be contructod under FHA inspection with $139,560,000 during the first six months of 1938, an increase of 78 percent. Of the mortgages accepted by the FHA for insurance this year, 70 per cent covered newly constructed homes and more than 90 per cent of these were inspected by the FHA during course of construction. The construction of new homes under the FHA program reached a | high level in the second quarter of J the year, when an average of 2,870 new homes was started each week, | as compared with 1,610 a week in I the 1938 quarter, "niis was an in- j crease of 78 per cent in the actual ! contruction of homes under FHA inspection over the 1938 level, Mr. McDonald said, a particularly significant figure in view of the fact that residential building for the entire year of 1938 was the highest in ten years, High I<eve| Continues The FHA's volume of business dur-
ing June continued at a high level, although somewhat below the preceding month. Small-home mortgages selected for appraisal amounted to $101,500,564, the four consecutive month in which the total has exceeded $100,000,000. This was an increase of 4.4 per cent over the June 1938 level of $97,231,622 and a decrease of 8 per cent from the May level of
$109,000 000.
Mortgages accepted for insurance during June totaled $82,321,770, a new high record, and an increase of 11 per cent over May.
The Federal Housing Administration has announced a reduction in the maximum interest rates which it will permit on home-financing mortages Insured by the government. Officials said that, effective Tuesday, the maximum rate on insured mortages covering small homes was reduced from 5 to 4 1-2 per cent: and that the maximum on insured mortgages for large scale rental projects would be cub from 4 1-2 to 4 per cent. In a statement issued through his office here, Stewart McDonald, the FHA administrator, said the new financing terms would be the most farvoiaWe "ever available to homo buyers on a nation-wide basis in the
history cf the country."
They would extend to the public, he added, “the benifits of generallly lower interest rates now prevailing
in the money market."
Jesse Jones, who as federal loan I adminstrator has supervlslqn over the Housing Administration, joined
in the announcement.
FHA reported Jones had informed McDonald that the Federal National Mortgage Asseeiation and the RFC Mortgage 'Company would buy FHAinsured mortgages at the reduced rate at par and accrued interest from leading institutions anywhere in the United States and continu-’ the usual allowence for servicing. The reductions are not retroactive, that is, they do not extqnd to mortgages insured previously by the
Housing Administration.
Under the 4 1-2 per cent interest rate, McDonald said, homes could be purchased on terms as low as 10 per cent down and average monthly payments if $5.81 per $1,000 borrowed. Monthly payments averaging $23.25
Simplicity Lines BUNGALOW STYLE WITH BEVEL SIDING AND RED SHINGLE ROOF
Along lines of real simplicity there is a home under construction, across from the Second Ward school buildin;;, on oast Anderson street for Mr. and Mrs. Fred Pease. The home will be a bungalow style with bevel siding painted white and red cellar shingle roof. Along the front of tire house there is to be a porch nearly the full width of the home. It will have a cement floor and brick balustrades. The driveway will run up the east side of the house and leads to a detached garage in the rear. On the inside, the home along the east end will have a living room in the front, to the north of this is the dining room, and the kitchen is in the hack of the house. On the west side ol the house will be two bedrooms with a bath in between. The living room is 14'xl7’6'’ and has a coat closet in the northwest comer. In the center of the north wall is the entrance to the dining room which will have built in china closets. There is to be ample closet space as there are six good sized closets. In the bedroom hall there is a stainvay leading to the second floor which will be left in a semifinished state. This floor may later he converted into a recreation room. In the basement there is a laundry room, work shop, fuel bin and furnace room. The home was designed by Joe Morris of the Allan Lumber Company and the latter is furnishing the materials.
corresponding months of 1938 is shown by the following table: Selected for Appraisal
1939 1938
$77,594,030 $29,904,199
Jan. Feb.
Ma rch
Modernization and property ini- April provement loans reported for insur- May anee under Title I during June num- June bored 49,215 for $23,337,673, the largest month under this phase of the FHA's program since this type of | Jan. insurance was revived in February Feb. 1938. March The record of the FHA smalt April hnmes-insuranee program by months May since the first of the year and for the 1 June
86,213,375 121,689,493 105 666,161 109,442 140 101.500,564
42,612,638 95,161,202 94,229,313 96.108.623 97,231,622
Accepted for Insurance 1939 1938 $42,217,800 $19,340,300 41 700 18,865.700
63,485,800 64.895,200 73,701,350 82,321,770
39,902,500 63,298,325 61,775,050 74,191,000
would pay off a $4,000 mortgage in twenty-five years, he added. In a letter to the Housing Ad ministration Jones said FHA was "rendering the country a great service through stimulating new horns building by making it possible fo:people to own homes approximately as easy as renting them."
SUMMER COMFORT Summer comfort in the home is effected largely by the construction of a top-floor ceiling and roof, some authorities say. In summer the greatest percentage of heat penetration Is usually through the roof. In winter the greatest percentage of heat loss is usually through the cell-
j ing of the top floor.
SAYERS INSURANCE AGENCY This agency writes Insurance covering risks of all kinds, Including Surety Bonds. SAYERS Phone 96 R
FHA PAYMENTS INCLUDE PRINCIPAL, INTEREST, TAXES, INSURANCE NEW HOME OWNERSHIP Can Be A Burden or A Joy Whichever You Choose to Make It—For Life!
You Can Make It A Burden by— 1— Attempting to flnanc- for i more than your Income cun conveniently pay for . . . even If it Is only a 50% loan on valuation It muy still be an over-loan! 2— Starting with Incomplete estimates or “make-believe” costs will cans*' you grief at the finish . . . hy making you “dig" for more money to complete your job . . . having to apply for an additional loan ... or trying to borrow from a friend! 3— “-lumping” at a plan chosen only from a picture, and without study • • . All plans look good on paper . . . but many are not PRACTICAL!
You can build a home of your own for no more than the rent you now pay!
We ( an Help Make II A Joy
by—
1— Assisting you in PROPER and COMPLETE FINANCING . . . helping you choose the home you can pay for on monthly pnym ids that will he convenient for you! 2— Building up proper and complete estimates so you may know th- \itso LUTE COST Of the finished home you want! 3— Making our nrchitural service available to you . . . studying plans and completely detailed specifications with you ... in order to MAKE SURE that you know EXACTLY what you are getting!
Let Us Help You Make Your New Home A Joy! HEADQUARTERS FOR EVERY BITLDINO. REPAIRING OP, REMODELING NEED. ALLAN LUMBER CO.. Inc.
501 NORTH INDIANA ST.
GREENCAS TLE, INDIAN A
PHONE 403