The New York herald., 1922-01-02
MARKET IMPROVES
AT WHITE PLAINS
Broker Finds Steady Increase
i'm Demand for Homes Com
pared With 1920.
BY II. FRANKLIN HULL,

President White Plains Chapter of West
chester County Realty Board
Real estate in the vicinity of White
Plains during 1921 has shown marked
Improvement over the latter part of
1920, when drastic legislation in October
brought about condition very close to
stagnation. The first two months of
1921 passed without any great activity.
but from that time forward there has
been a steady demand for homes, this
demand coming largely from people
paying high rents in the city. There
has also been a considerable demand
from local residents who sold their
homes during 1919 and 1920 and have
since been boarding or renting rooms.
Many of the latter had been deluded
with the idea that it would be possible
during 1921 to pick up houses at fore
closure sales at ridiculously low figures.
The comparative scarcity Of such sales
has been very noticeable and may
be accounted for in two ways: First,
that most of the newer mortgages have
contained amortization clauses, which
require the mortgagors to make periodic
payments toward reducing the principal.
Therefore people have gotten into the
habit Of paying off mortgages in reason
able installments, thus reducing their
carrying charges and saving them from
the sudden calling in of the loan at a
time when money is scarce.
The second reason has been that the
well known shortage of houses has COM
PEELED the home owner in a pinch to
sacrifice stocks, bonds or anything else
of value before parting with his home.
So the hope of picking up a house at
foreclosure has been as vain as the hope
OF finding a modern, attractive home
which could be rented at a reasonable
figure. White Plains brokers have had
no renting lists-only occasional places
for rent at exorbitant prices. The man
who bought his own home saved from
! $50 to 500 month on the average In
/ carrying expense.
AS the county seat of Westchester
White Plains is bound to receive in 1922
much of the benefit which will result
from the great progress of the county as
q whole. The Bronx Valley Parkway
| will probably be completed before the
end of the year and will include within
its boundaries the finest and most pic
turesque automobile highway leading
out of New York city, which will pass
through tlfe heart of White Plains.
All signs point to great activity in
White Plains real estate in 1922. Gen.
eral business conditions in the country
have improved and we no longer hear
H,ucn ABOUT an unemployment crisis. y
Neither do we hear as much about a
tight money market" More people
should be financially able to buy houses
in 1922 than in 1921
Taxpayers ASSN Elects Officers.
The Greater New York Taxpayers As.
ISOLATION elected the following officers al
a meeting held December 29, 1921,
Elias Diamond, president; Louis Roossin
first vice-president Karl Shapiro, sec.
ond vice-president; julius Feinberg
treasurer, and Samuel S. Isaacs secre.
| tary.
Market News in Brief.
Isidore Friedman, who recently pur.
chased the seven story building at tho
northeast corner of Kenmare and Mul.
berry streets, 100x11S, will immediately
erect four story garage with stores
and showrooms on Kenmare street
Shaw, Rockwell &c Sanford have
opened a Bronx office In 1872 Jerome
avenue, at fremont avenue.
A. and D. Cohen are the buyers OF
$40 Madison avenue and Michele and
Pasqualc Lops Of 80 East 121st street
| sold recently.
John G. Dabour, Inc, was the sole
broker In the lease recently made foi
twenty-one years of premises 594 Eighth
avenue. southeast corner of Thirty.
ninth street, 60 Joseph T.. Marx. The
lessee will either remodel the present
buildings or will erect a new business
| hui In ctt 20