Evening star., 1915-06-05
John L. Weaver Outlines
What Real Estate Body
Expects to Accomplish

What the Washington Real Estate
Brokers Association expects to accom-
plish in the establishment of the ap-
praisaI committee was outlined today
to a Star reporter by its president.
John L. Weaver, follows:
Owners of Washington real estate
long have felt the need of a dependable
body of expert real estate men pre-
pared to give accurate realty valua-
tons cheaply and promptly. The. ag-
gregate opinion OF selected appraisers
specially fitted by experience and init
mate knowledge as to values also has
been needed by the government in the
many important cases constantly arls-
ing in connection with the condemna-
ton of property for government use,
such as the Union station plaza. the
Rock Creek Park extension along Rock
creek to Potomac Park. now under con-
sideration, the acquisition of sites for
schoolhouses, fire engine houses and
the extension of streets and alleys.
Assistance to Court.
The Supreme Court of the District of
Columbia has needed the aid OF such
body in the settlement OF estates
where the interests of orphans and the
aged are involved. Prospective pur-
chasers of real estate and those loan
ing money on real estate have 1eit It's
need in obtaining valuations that are
entirely free from the influences OF the
nendine transaction. In other words,
there has been a general need on the
mart of the government, courts. cor
porations and individuals for certihca-
tion of the true value of property. Just
as dependable and acceptable as ls the
present certification of title furnished
by concerns in this line of business
ITO know that the title of a given
niece of property is good is indispens-
ab,e: to know it's real value is equailS
important. if not more SO. ~ ,1 mas
owner to provide himself with certih-
cate of title. certificate OF taxes ana
Insurance against fire loss, but no GER
tifcate as to value
Opinions Often Faulty.
.Heretofore he has had to rely for VAL
uations on the opinions OF lndiUduais'
often under the influence Of the pending
transaction. He has been obliged to put
himself under obligations to some friend
for help in this most important matter. a
friend often incompetent, and VINO usuaiiy
renders his opinion without that study
and knowledge so absolutely necessary,
and which comes only after years OF ex-
perience.
The courts are constantly nearing
tions Much expense is incurred. winch
would, in my opinion, be avoided II prop
e,1y owners had and would avail them
selves of source from which valuations
by a board composed OF individuals or
long experience and well known for their
probity in the community could be OBJ
tanned.
Owners of real estate soon would ap-
preciate the great aid these certificatons
of value would be to them. Estates would
he safeguarded If the benefciaries found,
among the papers in the case not only the
ordinary certification as to good title. but
also a certff1cation Of value. Estates so
naming too low a selling price, because
of consideration Of the cost For in
stance, property on any one Of our busi-
ness streets, bought even a short time
ago, could easily be priced too low by
an inexperienced executor or trustee,
under the influence Of the original cost
Again, on the other hand, owners could
safeguard themselves in those sections
where values arc recedfng.
Aid in Taxation Assessments.
Just taxation and the MANY vexa4ious
questions concerning assessments on the
owners were in a position to submit to
the board OF assessors valuations by a
competent committee.
THE real estate business will he WON
| derfully facilitated il certificates of valua-
tion come Into general use Brokers
| would no longer be embarras ssed by that
old stereotyped question, What, in your
| candid opinion, Is the real value of this
piece OF property? Values would he at
once hxed. at least for negotiations, by
the production OF the certificate"