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18 WINNETKA WEEKLY TALK, SATURDAY, NOVEMBER 15, 1924 NEWS OF INTEREST IN REAL ESTATE AND BUIL DING FIELDS POSTPONE DATE OF CONVENTION Realty Men to Meet at Dallas January 13-16 Date of the mid-winter convention of the National Association of Real Estate boards, to be held in Dallas, Texas, in January, has been advanced one day and the period of the meeting extended, ac- cording to action which has just been taken by the directors at the association meeting at Columbus, Ohio. The meet- ing, which constitutes the annual business meeting of the association, has now been set for January 13-16 inclusive. The change was made so as to in- clude in the program national round-table discussions on active business problems in the specialized fields of real estate finance, home-building and subdividing, industrial properties, farm lands, prop- erty management, real estate brokerage, and real estate board organization. The round tables will be meetings of the executive body and general member- ship of each of the seven specialized di- visions of the association. They will be elbow-to-elbow discussions on steps to be taken during the coming year by the warious groups of real estate specialists making up the divisions in order to clear the way for a more intelligent handling of real estate as a commodity and as an element of the country's economic wealth. The Dallas meeting will be the first annual meeting of the association to in- clude such division conferences. Future policies of the various divisions will be outlined comprehensively in the groiip meetings. The round table plan will enable the divisions to get the, di- rect: participation of their memberships in the outlining of plans for their pro- fessional work. A -partial list of subjects already out- lined for discussion by three of the sev- eri divisions, the mortgage and finance division, the brokers' division, and the homebuilders and subdividers divisions, intlicates the scope of activities which the association is undertaking in these specialized fields. or the home-builders and subdividers int list includes : + {Encouragement of the notable present movement of city populations to the sub- tbs ; consideration of the feasibility of "Hinancing home buying on a plan requir- ing no down payment; control of platting of subdivisions--How should it be 'done? developing subdivisions for persons of small income; home building methods to, be avoided--improving the architec- ture of the small house in American cit- ies--getting architectural harmony in the new suburban tract. On the subject of real estate finance the list includes: Subordinated notes--their use and abuse; debenture bonds--collateral trust notes; comparative construction costs, and the outlook for 1925; safeguards in the organizing of a building and loan as- sociation for the average broker's offices; factors which enter into an appraisal of city property; the national record of mortgages as to investment safety. The broker's division list includes: How zoning protects the read estate broker in protecting real estates values; "Specializing in Fverything"--How many lines should a broker handle?; chain store organizations and their location; factors in city growth--aids to the brok- er in looking ahead for real estate de- velopment ; ethics of real estate broker- age. Better Lighting Contest Looks Like a "Landslide" "It looks as if our Better Home Lighting contest is going to duplicate the recent feat of the Republican party" was the comment made this week by John Reesman local chair- man of the North Shore Electric league, which is sponsoring the con- test in Wilmette and vicinity. 'Although there is just this week 'left in which to register in the con- 'test, and to write the essay and hand ti in to the judges by November 15, .the official closing date, local teachers i a heavy demand for registra- n cards and Home Lighting primers. Any child who has neglected to efter the contest may still do so and pave an excellent opportunity to win opie of the prizes. With a little ex- tra study, the ambitious essay writer who has failed to get in with the starter's whistle may yet finish a win- ner. Those who have seen the prizes (most of them--the $15,000 Home .couldn't very well be displayed) ex- press the opinion that no expense seems to have been spared to provide fitting rewards for those who write the favored essays. The local prizes alone are well worth a few evenings of intensive study--and any girl and boy in Wilmette has just as good a chance as any one in the country to annex one of the National Prizes, among which a $15,000 Home is not an impossible object to aim at. EVANSTON CHECKS ON ASSESSMENT SCHEME The increased concern with which American cities are studying their as- sessment methods in relation to taxa- tion is indicated in a report which has just been presented by a committee appointed by the civic authorities of Evanston to investigate through scien- tific appraisals the fairness of the city's present real estate taxation. The committee has made scientific ap- praisments of 144 typical properties in order to determine what the actual ratio is between their assessed values and actual market values. Frederick M. Babcock, author of "The Appraisal of Real Estate," published under the auspices of the National Association of Real Estate boards as an author- itative treatment of the general sub- ject of appraisal methods, conducted the appraisal work as a member of the committee. The report lists as cases filed by it with the Board of Review an apartment building valued at $169,520 and found assessed at $25,000, fifteen per cent of its fair market values, and another building valued at $169,520, assessed in 1923-24 at $40,000 and reduced in the office of the Board of Assessors in 1924 to $25,000. The committee was appointed be- cause considerable concern had been expressed over the fact that with a great volume of new building in the past few years the total assessed val- vation of property had not been in- creased accordingly. The appraisal work showed that in general full, comparable and eaual- ized values were made by the local assessor, that reductions by the Board of Reviews were restored to original levels, and that reductions in the Board of Assessors' office were less than had generally been assumed. The committee calls attention to the fact that while .the investigation has made known effects of improvements upon the taxaable values in the city as they are .at present, the situation is a continually changing one. It sug- gests that the procedure of the pres- ent inquiry be carried out each year so far as it is 'necessary. Such a procedure, if followed out, the report holds, will have the effect of raising tax revenue . gradually, .and will so justify the expense of oper ation. Data developed in the "present investigation is expected to be of use not only in cases actually brought before the 3Joard of Review but in general ad- justment by the assessor to. correct inconsistencies. Look For Post-Election Activity in Real Estate With the election excitement over, real estate agents on the north shore are looking forward to considerable ac- tivity during the next few weeks. "Although we have had numerous prospects, and have been interview- ing many people who have come out on the north shore to see property, very few have made direct attempts at actual transaction," commented 'the manager of one Wilmette real estate agency. "The election another broker is the thine" stated "regardless of the can- didates, the habit of laxness during the presidential campaign has been true this year as well as in the past." "It's a case of feast or famine with us," remarked a salesman at one of the offices. "And we expect to feast a little in the next few weeks." At one office it was shown that a large number of property owners on the north shore list their property with the brokers to see how large a profit it would bring. Some of these people dispose of their homes where they see a gain of several thousand dollars and then buy other property. The high value of the property on the north shore induces many owners to indulge in the market just on that basis. In that way the listings show an increase over past years. Issue Booklet Outlining Realty Home Study Scheme The National Association of Real Es- tate boards will issue this week from its Chicago headquarters a twenty-page booklet outlining the plan of home study in real estate practice authorized by the association and being given by the Ameri- can Real Estate Institute, a branch cre- ated to carry on correspondence educa- tion in real estate usages and principles for persons who do not have access to direct class room instruction. LHASA WAKES UP The "Sacred¥ City" of Lhasa, in Thibet, where lamas: hold sway and from which foreigners are rigidly ex- cluded, is 'about to install its first elec- tric plant, a hydro-generator. Accord- ing to the Electrical Times of London all of the apparatus is to be carried on mule back up the 11800-ft. elevation from which Lhasa looks down. It is to be erected by natives who have watched and studied construction of the plant in its factory. No foreign enginer will be permitted to assist in the assembling of the plant. Realty Education Plan Is Adovnted in Canadian City Extension into Canada of the move- ment for technical instruction in real es- tate practice such as is now carried on under the auspices of the National As- sociation of Real Estate boards and its member boards in 125 American cities is announced in a communication to the na- tional association from the Border Cit- ies Real Estate boards, Windsor, On- tario. Under the auspices of the Border Cities board, what is thought to be the first course in real estate to be opened in Canada is now being offered in the Windsor-Walkerville Technical school. The series of lessons in real estate prac- tice organized by the national associa- tion from the best business methods now in practical use and made available for home study through the official national correspondence course of the American Real Estate institute, Chicago, will be used by the Canadian board for its course. Sixty-five students, real estate dealers, men entering the business ci real estate and property owners, are enrolled. NATIONAL REALTY BODY RECEIVES NEW MEMBERS: Eleven new real estate boards have just been elected to membership in the National Association of Real Estate boards by action of the board oi di- rectors. Eleven other boards, reported as disorganized, were dropped {rom membership. The total membership roll of the national association now includes 504 boards. The boards just elected to membership are: Bethlehem Real Tis- tate board, Bethlehem, Pa.; New Kca- sington Real Estate board, New Ken- sington, Pa.; Bridgeton Real Estate board, Bridgeton, N. J.; South Jackson- ville Real Estate Board, South Jackson- ville, Fla.; Osceola County Real Estate board, Kissimmee, Fla.; Sanford Real Estate board, Sanford, Fla.; Lake Worth Real Estate board, Lake Worth, Fla.; Tarpon Springs Real Estate board, Tarpon Springs, Fla.; Plant City Real Estate board, Plant City, Fla.; Hoopes- ton Real Estate board, Hoopeston, IIL; Laguna Beach Estate board, Laguna Beach, Cal. The Coshocton, Ohio, Real Estate board, dropped some time ago, was r1e- instated to membership. The boards dropped from membership are the iol- lowing: Pierce and St. Croix County, Wisconsin, Real Estate board; Benton County, Iowa, Real Estate board ; Ap- panoose County Real Estate board, Cen- terville, Towa; San Gabriel Valley, Cali- fornia, Real Estate board; Willows, California, Real Estate board ; Hayward, California, Real Estate board; Turlock, California, Real Estate board; Dinuba, California, Realty board; Marysville, California, Realty board; Sarnia, On- tario, Real Estate board. Be sure to read ] OUR Classified Page og Plant Now Trees--Shrubs--Perennials This is the right time to plant and buy trees, shrubs and perennials. Prices are lower now than in the spring. John Ostrowsky 1487 Asbury Avenue Hubbard Woods Phone Winnetka 546-J For Rent--Cheap Owner desires party to occupy his 8-room unfur- nished house at Ravinia dur- ing winter months. In good condition and furnace heat- ed. Make an offer. HILL & WHEELER, Inc. 736 Elm St. 334 Linden Ave. Winnetka 142 Wilmette 93 CASH AND CARRY Big reduction to those who come to our Nursery and get the stock. Freshly dug; roots not dried out. Nursery just west of Lin- coln avenue on Peterson road, Chicago. Peterson road is the north line of Rosehill Cemetery. GOOD ROADS Telephone Evanston 1434 PETERSON NURSERY BARGAINS Cash and Carry Buy Non -- Trees, Shrubs, Fruits, Vines The land of the Peterson Nursery has been sold and we have a short time , to sell off the stock--This is your opportunity. 30 N. La Salle Street, Chicago, Ill. Telephone Main 3613 WE DO PLANTING For those who do not care to do their own planting. We will deliver, plant and guarantee. Fistimates given.. 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