Evening star., 1938-05-07
REALTORS VOICE
HOPESFOREARLY
BUSINESS GAINS
Leaders in National Field
Address Regional ParIey
in Richmond.
STAND ON LIMITATION
. OF TAXES REAFFIRMED
D. c. Has Highest Percentage of
Home Vacancies Since 1893,
Murray Reports.
BY JAMES Y. NEWTON.
Real Estate Editor.

real 6StdtS EQltOT.
RICHMOND, Va, May EARLY
return of general business prosperity
was foreseen here today by some Of
the Nations leading realtors address
Ing the Central Atlantic Regional
Conference of the National Associa-
ton of Real Estate Boards Man,
of the speakers cited evidence of re-
stored confidence by business as the
prime reason for their optimistic out
look.
The realtors prepared to bring the
business part of their conference to
. close late today. The meeting got
under way Yesterday morning with
approximately 500 delegates from
seven States and the District in at
tendance. More than so persons from
Washington are here for the sessions.
The Board of Directors of the ma
tional association met Thursday
The directors advanced further
their campaign for equitable taxation
of real estate. The board. of which
H. Clifford Bangs of Washington is a
member, approved a report of the as
sociation's National Committee on
Real Estate Taxation reaff1rming its
stand for an overall limita ton of real
estate taxes, BROADENING of the tax
base so that schools may have a wider
means Of support and making income
or productivity of property the basis
Of valuation for tax purposes.
Economy Is Urged.
"A statement urging economy and
efficiency in State and local govern
ments likewise was contained in the
tax committees report. The group
recommended a broadening of its
scope OF operation so that other ma
tionally recognized realty groups may
participate in the limitation cam
paign and suggested formation of
tax service bureau to do research
groups in furtherance OF the cause.
Details Of such plan were ordered
nrepared by the executive staff of the
national associat ton. The directorate
selected Dallas. Tex. as the site for
its next midwinter meeting. Officers
for 1889 will be installed at that time.
A not too optimistic report Of con-
ditions in the Capital real estate
market was given this morning by
Francis A. Murray, vice president Of
the Washington Real Estate Board.
Mr.. Murray. speaking in the absence
of Board President Morton J. Luchs,
declared that while business is brisk
An tho sole ~ nf hnnooc
the District now has the highest per-
centage Of vacant residential units
since the fall of 1888 He advised
builders planning larse-scale residen-
tial projects to proceed with caution.
Though new home sales generally have
been slower this year than in 1897.
Mr. Murray said that small home
developments both in the District and
outlying sections are selling rapidly
Washington brokers. he continued. are
reporting increased activity in the
sale Of new houses above the $4,000
class. He gave the current slower
rate OF residential construction as an
encouraging sign. This. he explained,
Is clearing the market for future
activity
j. Garrett Bethel. prominent
Washington realtor, addressed the
brokers division of the conference
yesterday on Selling Today's Homes"
Former Ohio Governor Speaks.
Myers Y. Cooper Of Cincinnati, for
nner Governor of Ohio. pointed to
real estate as the best form of invest
nent in his address today. He point
ed out that despite the business re-
(See REALTORS, Page B-4)