Indianapolis Times, Indianapolis, Marion County, 3 February 1952 — Page 47
3, 1952
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Real Estate | oe e SUNDAY, FEBRUARY 3,..1052
PAGE 47 Classified ....vooense...50-63
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ae) Showdown Due In Appliances
By Harold Hartley
- ~ + y . . , cg THE CHIPS ARE DOWN. The appliance ‘‘giants" are| lining up for a showdown. And some: tip-of-the-tongue| names may wind up in the industrial graveyard. Appliances have been on the gravy train for 10 years. §¥ The people have always wanted more than they could get. That !earn these. Symphonies got wise, made it easy. They began printing little biograAll some dealers had to do was Phies of the composers in their scream at the factories for more Programs, and the story they were merchandise. They had waiting trying to tell, as well why. lists. And at one time selling Sometimes it was disappointed became almost a brush-off. love. Or it was jealous fury. Or "5. 4 = just the tale of a happy farmer,
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TodayBusiness 1951 Home Sales Record High
19,000 Deeds Entered, Executive's Review Of Good Year Reports
By MENDEL 0. McCARTY . : Union Title Co.
Marion County real estate continued to move at a healthy rate during 1951, as reflected in the total. nume ber of deeds recorded by the County Recorder's office at year end. The 1342 deed® recorded ing December brought the
. ¢ dur-" The 13,503 mortgages placed 1061 on record last year were for a total to 10.733. While that total dollar volume of $87,622. figure represents a decrease of 310.22—-down $6.5 million from mearly 9 per cent as compared the preceding year. to the 1950 ‘deed total, it is well Home Demand Strong ; above the-1949 total of 18,974. The 18 -per- cent drop in the Last vear's real estate activity'number of mortgages was not during As drastic as the decrease in
y 1s . . . WAR rreatest locally 3 TODAY the number of com- being happy in his planted | AG ~ hen 1002 deeds were other metropolitan areas throughs panies iz beginning to thin out. meadows, J gua i ATgUSL pn also the out the natiom. : Some are chipping the corners recorded Iu ! ! ff pri Prive r T Yous ait : leading month for property trans-| It appears also that the desir Q prices. Others are putting BUT YOUR ticket :gfid mine Lg 2 4 § Ava 1050. with a total of 2153 for home ownership outshone the extra powder into their promo- have never paid for a symphony. > “th Cy gL by a oe % x » » xa nS n —— sed in Marion County. difficulty in obtaining financing, in Sous] guns. But still there isn't They are lots of taleiit, and office > fo - A, su; Pl, on, A 2 Q “x F a > wy af Te, ily ES 13 ant mortgages that _.the number of Proprsy enough business . help, rehearsals, stage hands RE FT 2a amit ge >. - EA ee 1 2 . Ta Ra > * ud A AR transfers decreased much les k : > y ; { ; : ands, kK i ded . ‘on. : * 2» Sieh A > 4 fg TEN » PA re Orde Mari County ! Down the rand apiece lies real They roll up quite a bill, ad en ih Ta. We eet ss. "Fe Cond ll "ha > - wr os NE Te A a than the number of mortgages troy Des an Sanyal turers So. next Monday the Indian- sma 5% writ CREE «1 F 2 _ — 3 aa ol. Row oS Wart decrease of -more than. 18 .per made on Marion County Property, j ! Xpé 18. ipolis gymphe ’ - 5 » : o , > sually mortgages an dee pol § pnony is going around . ' 1} mortgage volume General Electric, big andi, gee \ . Meta BS : : cent. from the morig are considered to have a direct see the businesses of the town LOW COST HOUSING—One hundred fifty new two-bedroom homes ate being built in Ritter Park by Grinslade Construction Co d 0 : ; . ‘ i , J + recorded in 1050, Fraws, Centering Opersiians In It is the one hope that the musical ; H ¥Y : \ 9 y recorder - hearing on each other. However, LAY - 1g 5 ot Louisville, 18 getting a $200 mil- p,004g of the greats, the emotions § last year's statistics indicate a
there, % . of the masters, can stay with us ® TODAY GE is turning out 5200 a8 a part of the inspiration of our refrigerators a day in its Erie OWN.
Pa., plant. At Louisville, this : i. 8 will be dpubled. FRANKLY, I" hope businesses Hotpoint, GE's industrial Kick in, but with something more
cousin, is doubling the output of than money. 1 hope they buy] some of its lines. And the big blocks of seats for employees. I question, which has the industry know Mallory’s has. Others have,
in shivers, is who'll stay, and too. : who'll drop out. : I have heard it said in this way. | Look over my shoulders at Symphony music isn't on trial.
some figures. You'll see what the It's the town itself, and whether industry-wide shiver is about.” it wants a few of the finer things, " & # along with TV's Milton Berle. GE BLUEPRINTS every step 2 a 8 it makes. And it makes no false. I COULD HAVE conked Berle ones. It knows where the market the other. night when he shameis, what it wants, and how much fully burlesqued such ¥ literary! it takes to get it. masterpieces as “Little Women,” Last year GE made 1.3 million “Treasure Island” and “Robinson automatic clothes washers, 7.3 Crusoe.” . per cent of the market. The earnest work of the very By 1960, GE will be producing earnest composers and authors 2.6 millipn, or 15 per cent of the ought to be preserved. : market, Otherwise we might as well-let
LAST YEAR GE sold 300000 "Alley Forge go to rot, rent clothes dryers or 9 per cent of all rooms 20, louTists in Mt, Vernon, sold. By 1980 GE will. minke ajar Loni soybeans in-the bates million dryers or 20 per cent of Or Lreilysburg.
the market. Bulk Milk
Take automatic dishwashers. I AM BEGINNING to hear a
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6 Million During 1951
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GUY BOYD—'52 big year.
Jack Carr, Inc., last year had a sales volume of more than $6
ful, wasn't it?" or ‘“Marvelous.”| Then I would walk away quick-| ly for fear someone would pin me|
29.9 per cent of all sold. By 1960 few grumbles about the move Yo hot-water heaters, ironers, refrig- milk makes it cost more. And! . . a - | percentages are the handwriting| 2° eating places. THE PEOPLES' CHOICE—Popular among new home buyers is the space saving Hotage wall, ing to b , 4 irying to buy Norge, and now the unhealthy. After the can is opened Maytag bought Ammna Freezer. | at Ritter Park {in Thornton Wilder's play, “Our/ business. and poured it into. the container| Grinsiade Construction Co. Con- terials into our homes and we'd! is really throat-cutting, and it carried milk bottles in a wire bas-| oo" L7G Ty hee having houses and see for themselves,” - ition Grinslade Sr. have been buildup with an “orphan” from a in handling food. When completed, the addition ” 2Yve n bu S mostly in the low cost brackets. for its money, can be a head-|/than we want to quit the motor and sidewalks. . nm | I HAD BEEN wearing long cause bulk milk is cheaper, sell for $9200. t ¥ Ey me Up in 1951 stirred the animal in me. And. {room and a full basement. cent greatér-than the previous I don’t think I get the full Sales of older homes during ,,cement is full-sized and offers ity of the company, he said, that| posed ‘to, and -I seldom did, an H. Duff Vilm, mortgage banker, lo-| Marker. . . units Qf property, Guy. Boyd, lieve the people who raved about course ‘of the In-| One important feature of the| Stone said, emphasizing the need during 1952. promenade, and I had to say| tion at Purdue, is accessible from either. room for his money and fewer gadg- Sales, Mr, Boyd said. 11ttle mortgage! The houses are built in 10 dif‘need something new on the out-| more expensive houses,” he pre- | Mr. Vil . down and ask me point blank] . Vilm what I thought was “wonderful” were upped to 4.5 per cent. the developers and the Federal space in homes, and Mr. Boyd
Last year GE made 250,000, or | this figure will be 900,000 or 30 let the restaurants and hotels sell per cent, nearly one out of three. bulk milk, : Similar figures are set up for, I know that “packaging” of erators, ranges and semiauto-'that milk delivered in sealed cans matic clothes washers, {would be just as sanitary as milk SOMEONE has to get out. The 1 bottles when it is delivered to on the wall But the reason we got rig of| featured in the Grinslade-built home of Mrs. Clarence E. Sams, 5346 E. 20th St. Builders at the You hear gossip about Admiral- 1 Pulk milk business was that| national convention in Chicago listed the ‘storage wall as ore of last year's'biggest "finds." in certain places it was found orem : ; word is that RCA is trying to| 150 L C F HM work it out. And' Kelvinator and is exposed to the air, that's ow v oS omes bought Kalamazoo Range Co, “ren the trouble begins. : : ” ol s What happened in the gold! I CAN REMEBER vividly the Planned rush days of the auto business |Pro8ress in milk delivery as shown is now repeating to appliances. |, Mii | “Another 150 low cost, two bed-| include a side drive and room The little fellows will be merg-| own.” The milk man in the first room homes are planned for the for a‘ garage. ing, selling or going out of SC®Ne came around with a can| Ritter Park Addition of the - “We are putting topnotch maTv # weit the porch. struction is already underway. |like all prospective buyers—or SOME WILL TRY to stay by) 8 the last act, which repre- It will be the beginning of the anyone at all—to come out and price cutting. But price-cutting|sented a small span of years, he . ..ii0ne second development, 99 Watch the construction of our : said Mr. Krabbenhoft. I am saying this so you, the the play. But it was one of the| heen BY Since The Gree Construction buyers, will be aware of it and significant touches. = engineer said ’ Co., operated by T. E. and C. O. not; as dtd some car buyers, wind It showed the progress of man = ? : company -which—eouldn't—make #3 a ~— will include’ 240_homes. The gor _— Ell i el the grade. : = | AND I DON'T think we want to velopment includes all city utll-ig oo, 00 104 about 600 homes, That, for a family which works 80 back to the old way, any more ities, sewerage and paved streets ache a fon of aspirin won't cure. car 204 80 back to the horse and The homes are being built pit | the livery stable. : along 20th PlL- between Haw- A Bucks for Bach I'll hear from this, I'll bet, be- thorne Lane and Hitter Ave. and Edsel Volume | pants a long time before sym- ‘ | Of frame construction, phony music began. to take hold. ; Hear ~Hurld iartey af 3 ‘homes include two bedrooms, &| The sales volume of the Edsel I always knew the hot stuff. It| p. m. foday on dg | modern . kitchen, a .1iving-dining| Realty Co. during 1951 was 50 per now. that the animal is getting Vilm Backs Higher | The buyer gets his choice of year, S. I. Stone, president, antame and quiet, I can bask, with- FHA Interest Rates !heating plant and may choose nounced this week. out snoozing, through symphony. between coal, oil and gas. The| go great was the realty activ-| worth yet. But if I know the story, 105% will most likely have to be 740 square feet of floor area, Ia ‘new North Side branch. was as all symphony ‘lovers are sup-\made on. conventional mortgages, > Four Closets opened this week ‘at 527 N. Del-|® 52 handled sales of 541 - 0 6 |aware St. under manager. John Milliontand handled sakes of : orchestra can cast its spell. said this week. | Fach bedsoer has iyo closets : . x x» 3 Speaking at and two, othér closets are Lae i | president, announced this week, ! TIME WAS when I didn’t be- } the 30-day short cated elsewhere in the house. | The TE dePAnc or homes sng Mr. Boyd 1s looking for- : 0 ” {ward to an even brighter year symphony. I simply thought they & diana Lumber homes is the big, roomy storage 33000 to $15,000 price range,” Mr. : were high-hatting me. I Would] and Builders |wall between the kitchen and for low and moderate cost homes. The: 1951 sales volume was pass them in the intermission] Supply Associa-| dining. area. This storage space “The average home buyer 2POUt $350.000 over 1950 and vou arerame » house AbOUt $850,000 better than 1949's something nice, but safe. Mr. Vilm pre- and_has proven extremely popu- Would prefer a € more house So I would smile, as I could see dicted there lar with home owners through 2 yy “I.expect the market for older would be very out the nation. jeter Be nodded. Weve done A } mes during 1952 to he extremepre ¥ BOC Job © Fessing up ly .strong. particularly for the money difficulty ferent styles to provide. variety, |the interior of homes, but we. if FHA and VA and the design represents the ic." | dicted. interest rates planning of architects, engineers, | 59%: : : P gi The curtailment of new home Bales are Jgeiing biggey, he about it. : “Lenders . like to see their Housing Administration. construction would heighten the ' : ¢ “ am mortgage paid off before the Plastered Walls demand for: older houses, he joesn't believe that they'll find I DIDN'T know the. language, house reaches 35 years of age,” All walls are plastered, hard- | P sed. i /the roomy house they need at the
and don’t yet. And I didn’t know he said, adding that most qf the wood floors are of double thickthe composers, or the stories they available FHA money would g0| ness and the kitchen floor is of were telling in music.’ for the longer term mortgages on inlaid linoleum. ' Lots fave ‘a Fortunately, I never had to New homes, | frontage of at least 50 feet and!
{price ‘they can afford to pay for {a new house which tend to be {smaller, :
Chicago Building Higher in 1951 Seek A Neighborhood
CHICAGO-—The Chicago 'area/ “A great many people want a {had 1951 construction contracts home in an established neighbor/totaling $1.68 billion—2 per cent hood—particularly factory workmore ‘than 1950's total, it was ers, who have bettered their announced this week by R. H. standard of living considerably |Ray, regional vice president of 41 the past few years. They now F. W. Dodge Corp. can afford a nicer home in a Non-residential awards for the nicer neighborhood,” Mr. Boyd {year were $765.68 million or 12 said. : \per cent greater than 1950 +n The big demand. for homes is northern Illinois, Towa, northern still for the ranch type design, Michigan, Wistonsin (except he added, but felt that the more| northwest) and Indiana. traditional designs were. becorgs Residential contracts for 1951 ipg8 popular—the Cape Cod de-| amounted to $653.32 million, a|Si&n particularly’ in the. lower decrease of 15 per cent from 1950, | cost market. ; | Publie and private works and
“The sales activity in our %f-| q fice has doubled during.the last|
utilities for ithe year totale "ig | $273.82 million, or 37 per cent 10 days” “Mr. Boyd said, but he more than in 1950. “.looks for the big buyer putsch|
i to come about April, s ily : ae “Our. . population .in. IndianOberreich Speaks *. ‘apolis is* growing fast, coupled Richard Oberréich, executive with the —curtailment of new. secretary of the Thdianapolig Re- home construction, our soaring, {development- Commission, . will birthrate and the stagnation of speak at the Thursday. luncheon rental properties, I believe the meeting ofthe Rgal Estate Board demand for existing housing will at" the Washington - Hotel. His be the greatest since the imsubject is “Slum Clearancé and mediate post-war shortages,” he Urban Redevelopment,” ~ . said. PCa ELLs Fr
NORTH -SIDE—Built at 7201 N, Winois St., this four-bedroom stone rancho was purchased reproperty for seller B.
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The sale was made by Ken Whistler of the Hall-Whistler Co. : ft : Si ih : se J 5 be : ets a Hi
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ermal
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{shior{ige is found not. in how War era baby boom -and the
housing we already have.
| papers? listed for rent.
Carr Sells
fla million new dwelling unéés this gaily end,
land prices aren't going to soften.
continued housing demand in ex= {cess of ability to secure adequate {mortgage financing, | Subdividing and developing, (ton, showed signs of sustained |activity during 1951, with a total lof 49 plats for Marion County ad {ditions and subdivisions being re corded. The 49 subdivisions included a total of 1602 lots. An idea of the extent of local . building and developing activity {is provided by the fact that durling the six years, 1946-51, a total lof 10,652 lots were added by sub-
The Wagging Tail—
Looking Ahead ‘In Housing
By DON TEVERBAUGH a : Times Real Estate Editor TWO RECORD SMASHING YEARS of home building have stirred up the question in a lot of minds—when does 4vision and development Of une the housing shortage end? platted land, according to the And with a feast of more than 2.5 million new dwelling Marion Soe Recordes s office, units under the nation's DOUSIAG! ree orm —————————— yy Ri ore na wien discl belt since 1950 there appears to be lion annually. And the economists| The Recorders figures disclose real cause for wonder. ‘figure this nets about 800,000 new that more lots have been provided But actually these new homes Douseholds per year. in Marion County by subdivisions are not the prime factor—because But. right now the theoretical during the last six years than the tail does not wag the dog. home buyer is the depression Were added during the previous Not even in this dizzy last half dwarfed crop of births and loom- 25-year period. of the 20th Century. ing up ahead 'of the nation's) | The hu Ysferiaking in the ¥ home builders is the tremendous re - The real truth of the housing ho ample of the tremendous job that many additional houses we build, post-war crop Which bounces Das been done in making more
pn about 25 per cent above home.sites available and is in. but Falher in how We use, the A LOH p ~ |dicative of the greater land usage
4 {which has occurred throughout Now in School . Indianapolis and Marion County. These youngsters have alregdy| With the continued high level hit our youn and are fillingiof activity in real estate eircles, , ms faster than ‘we it-follows that a correspondingly in. the the ,clisarog high. number of instruments af. be fecting real estate have been re. {corded by the local recorder’s of«
N
This is the business-end of the dog that wags the tail. And the tail started to wag a little last summer. It still wags a .little classified sections of your news- can build ‘em. There are ‘apartments By the early '60's they'll Rentals are easy married and looking ou flomea.| ries to get—sure they're the less de- And their demand won't be just) + Nd ; i or or ptr ivy units the normal shout for housing—| During 195}, a total of 84.302 |—but they're available, {t'1l be 25 per cent louder. And it |instruments “affecting Marion And that's a pretty good sign will continue that loud all through | Colnty real estate were Fecorded {of how we are using the avail- the '60's and on, until the present | A: Cores to records of the Union able housing we have. birth yale Srbps oe et an.| These include all recorded We Came Close other—the inevitable collapse of deeds, mortgages, affidavits, liens, Another year of home build- {ye many hundreds of thousands leases, articles, releases, resolu= ing such as 1951, in which a mil-| , overage dwelling: units which | tions—in fact, any and all instru« {lion units were built, might have ;.ve sucked a life on the bor- ments having any bearing a real put the skids undér high rent . ..4q time of the shortage. property located in Marion Coun
ty. Nearly 6000 more realty in levels and present sales prices. 3 3 Bu r F Troubles Aren't Over [struments were recorded last year tain that we aren't going to get
i {But the experts are pretty cer- } pe : And when the shortage does| than in any previous year, except
if it does, don’t 1950. think that your troubles will alll And, of course, that means rents ,. quer, They won't. | There will be plenty of houses,
Activity Up 65% An ‘indication of the accelera-
Despite what many people say, | heir prices and rents tion in-local real estate activity cost of construction does not ge. 1ies, ang thelr th they will be is provided by a Comparison of. termine rents or sales prices. It|, so. to buy. Because credit will the volume o instruments reis the rate of utilization of all| cp rivel up into a cautious shell.| corded in Pecent years. 1940.3 housing—how we use the housing mo bankers will insist on even During the six yeas: 4 we have —that pipes the tune. higher. down payments and they nearly halt m on rea In dther words, the landlord “av yo res in doing so. astaté instrum piecia Weru-Taon led and builder asks as much as he =. oo 00 another sign of justin Marion unty. at to
can get. So does every other busi- , “= 00 we came last year— represents an increase of 65 per nessman. f ri
SSID. 5s shea? ihe tight mortgage market. |cent in the volume of instruments ut what's ahead? it &
em—— filed over the preceding six-year Ol' Supply-Demand
. t : I Supply-Demand | j}orafure - mand shoves the answer right at Oo Contest On
you. With a limited supply of! homes this year we aren't going to meet the demand, the experts A building products literature feel, We need another million contest for Indiana was anunits, but we're likely to get, at nounced this week by C. J. Woerbest, only 800,000. ner, president of the: Producers Korea stepped in. And with our Council, Indiana Chapter. rising earnings, greater savings, The competition is co-sponsored This vast number of real estate and higher cost of living, it is by the American Institute of ;, tr uments is of vital importance inevitable that housing costs and Architects and the national Pro-|(, ine successful operation of a rentals will remain at present ducers Council. title company. In its day-by-day
period. During the entire eleven year period of 1941-51, 750,000 instrue {ments were. offered for recording |locally, That is an increase of nearly 75 per cent as compared with the volume recorded during the preceding elevert year period of 1930-40. . vr
-.JKey to Title Work
levels, perhaps go up a little, Literature in four different no ration, the title company must This year might have been jhe classifications will be accepted “digest” each of these instruyear we licked the housing short- from producers represented in .
{ments by procuring copies of them, indexing them in ‘the title .plant, and accurately posting them in the tract books against - any and all real estate upon
age. We were that close, I think. the Indiana Chapter of the coun-
ell. Deadline for entries is FriBack to 1940 dav and awards to the winners
"We've made pretty sizable wij] he made Feb, 28 at a banquet galing. The 1950 census shows that gt the Athenaeum. x our “doubled-up households” today, The classification of entries hich aly Tay have any pos have been reduced to the same include: technical literature and p=. 40 performing these percentage as those in 1940. manuals, catalogues and product|., ax operations, the entire That's: a real jump from: the data, promotional copy, and space procedure must be processed sardine ‘can year of 1946, - advertising. speedily in order to place at the The boys who: roll the statisti-- Lloyd .V. Moser, president of .p. ix otar's fingertips the means cal log point out that '46 was the Indiana Society of Architects, go. providing—at any time—the the year the shortage reached its and George Caléb Wright, presi- iw a ang complete’ rd mitre peak, for that's when marriages dent of the Construction League, |,¢ any parcel of land lying within soarde to an all-time high of 2.3 will head the contest jury. the bounds of the area covered million, ‘ ; Local winners will be entered by his title plant. Right now the nuptials have in the national contest, Mr, Woer-' "omission of or mistaken Tepros faded to a more normal 1.6 mil- ner said. # lduction of any one of these ine
Display 1951 Top Design nr
{or prospective purchaser relying 'on the correctness and complete "ness of the record history as dise : | closed in the abstract of title. | The confidence which custome ers have placed in the Union Title Co. is justified py its service reece ord of having prepared mare than 400,000 abstracts of title without loss. of a single penny to any client. =. . ;
ble harm to the property owner
Evans-Bromert Co. Partnership Dissolved
“The. partnership. of “Evans-Bro. mert Cq. has. been dissolved by mutual consent, the firm announced this week, Canine ©. | Margaret Evans will Somtings : : Fe foal i © activities at the firin office, / ; : Casi : 33 .. |E. Westfield Blvd., with the pres. BE 5 : v : : : R © ent staff, si ~~ HOME SHOW HOUSE OPEN—The Midwest Town and | - Ethel Bromert anno Country home, winner of the 1951 Héme Show design contest; will acjecs ie a
2:30 through 5 p. m: Being displayed by Butterworth & Co., realis open for hel inspection today at 155 W. 73d St: Hours are gl ' tors, the $35,000 home was built by Ben Olson, It includes-$1500 year association had prove worth of appliances and $1150 in draperies. * - - _ = lord years for ik