The Washington times., 1920-09-04
MUST SELL IDEAL
SITES IN CRESTV|EW
Tenants Wishing TO Build Own
Homes Can Get Golden
Start Next Saturday.

q by Washinxton's most exclusive
end highly developed home section,
there will pass into the ownership OF
. number OF investors and home build
srs one OF the most desirable tracts
sf land located directly on the line
Of the greatest and most logical
growth of Washington.
The sole object of this sale OF 300
home sites TO be disposed of at public
auction TO the highest bidder, by the
Joseph p. Day organization, on Sat
urday afternoon, under a mammoth
tent at the junction OF Massachusetts
avenue northwest and the District
Line, is to convert real estate into
cash quickly. The owners have de-
cided to make this sacrifice at this
time In order to liquidate the property
In the most expeditions manner pos
sible.
with the revival OF building ac-
tivity now at hand and which will
be further stimulated by the cam
paigns now in progress OF organiza-
tion. Crestview is bound to witness a
pronounced building movement. These
movements will greatly influence the
future development and character OF
the northwesterly section Of WASH
iRgton.
The present cry OF tenants Is for
cheaper rents and the strength of this
demand is so great that new construc-
tion cannot be deferred for long after
the Crestview home sites have been
distributed at auction.
BANKS OFFER HELP.
An encouraging sign is the fact thct
financial institutions are becoming
more and more receptive and make
- hat
willing to advance the necessary funds
for home building. This change OF
attitude on the part of bankers gen.
orally is caused by the realization
that the cost of materials and labor
will not recede for some time to come
and that values will adjust them
selves accordingly.
Many schemes have been tried In
the past in the way of gifts. souvenirs
and prizes to induce people to buy
lots at auction. These time worn
methods have been discarded in this
sale and more businesslike plan
adopted.
This method is no innovation In
the history of land selling, and is
being rapidly adopted by the more
progressive and energetic real estate
operators in the country.
He ScCt1On III "HbSh SiSSt''S" 80
located has long since passed the ex-
perimental stage as a suburban resi-
Dental colony. Scores of artistic
homes have been erected and the
property Of the American University,
with its increasing stately buildings,
Immediately adjoins Crestview. d.
rect car connection with the heart Of
the city is maintained at frequent In
tervals- I'm short. Crestview is a place
where the man of ,modesAxs income
MY enjoy the advanta&$AA home
m the suburbs at the ttme en-
5nying city conveniencesSE} =
SITE FIRST PRQAIEN.
IN speaking on the subject Of the
selection of home, Joseph p. Day,
whose organization is to conduct the
snction sale OF the Crestview property
ne1t Saturday, said: From the prac-
teal point of view home builders find
their first economy in the selection Of
their site. Those who build should
secure sites that will advance in
value as the house tends to decrease
slowly in market price. In the course
Of time, the land should rise in value
to moro than counterbalance this
deterioration. Thus the integrity of
The total investment is preserved.
In the case or nome Du1lders on
the near outskirts of the city Of
Washington, the advances in land
value have continued at far greater
rate than the deterioration in the
building. In fact, the land has gone
on advancing during the lives of sue
cessive buildings. Therefore, the
home builder who wants to conduct
his operation with the greatest de-
gree of economy should select his
site where he may take advantage Of
the greatest future advance in land
values.
"To my mind, one of the rare op-
portunities of this kind will be offered
at the coming absolute auction sale
OF Crestview, where 500 home sites
are to be offered to the public for
whatever they may bring. The owners
have decided to liquidate their hold.
ings. Their loss will be the public's
gain, as 1t is my experience that when
such large parcel or land is thrown
on the market in one sale there is
bound to be bargains for those who