Indianapolis Times, Indianapolis, Marion County, 15 June 1952 — Page 37

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Section Four

~ The Indianapolis Times

Real Estate ire vies 3-39.52 3 Busingss - ...... ceverarvaenadd Small Home Plan ...........39

Real Estate

PAGE 37 Classified ......000004..39-51

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By DON TEVERBAUGH Times Real Estate Editor

Sure it costs you more to buy a new house today—about 115 to 120 per cent more than it did in 1939. And here's why...

For one thing, it isn’t the same house. You wouldn't buy it if it were, ~ - The 1952 model priced at $16,- lots of money because it cuts 000. sold for about $6400 in 1939. Waste of material and time to a But today’s house carries with jt Minimum, ; about $4000 worth of improve-| There's been a big change in ments. It has convenience built in. electrical costs, too. Builders say The heating plant, for example. in 1939 they dropped a single out-

In '39 it cost $190 for a hand- I i ani, ey fired furnace. Today the auto- 5 deal y y P matic heating plant you demand

for your new home costs more But today you get ceiling than $800. lights operating off ‘wall switches

The old side-arm gas ‘water and three or four electrical out-

heater cost only $20, but today’s lets in the walls of each room. home includes a. $70 automatic Take a look at the kitchen of a gas or electric model. And the "eW home. Back in 1939 all you aluminum storm windows - and 80t there when you bought the screen combinations add another NOUSe was the sink. $200 over the 1939 cost. Toasy you get built-in cabinets, garbage disposal units, special Lumber Costs Tripled wiring for modern ne oa Sure, lumber costs have just pliances. And many builders even #bout tripled the '39 cost. But to- include ranges, refrigerators, day you get kiln dried Douglas freezers and clothes dryers. fir instead of sap-oozing yellow pine to frame your house, And the structure of the modern home is| Sure, your new house costs mare sturdy—it has to be because more. That's because everything of larger, improved heating that goes into it costs more. And plants, i 2 there's more going into it. Flooring cost increases can be .Lahor costs more, Not t th attributed almost entirely to ad- |. oo 10 (0 BoE ot just the vanced manufacturing methods. pen ers, bricklayers, plasterers Today the flooting for your home!" hod carriers—but the lumber- : ; ijack, the milhand, the iron miner,

is finished. at the factory and] TN Ws comes ready for installation. In: lc railroad brakeman, the metal

Everything Costs More

fnstalied and this added cost was! They've all got a raise—several | considered labor. |ralses since-1939.° . : . :

; SUNDAY, JUNE 15, 1952

New Home Costs More--Because You Receive More

28 New Home

Twenty-eight two-bedroom homes of frame construction with brick or stone trim are planned for the Fairhaven Homes addition of the A. H. M. Graves Co. in the 3300 block of N, Manor Court, Open for public inspection, one of the new homes at 3340 N. Manor Court, will be displayed today from 10 a. m. to 530 p.m. ¢ The houses, complete with side § drive and sodded front lawn, sell {8 for $12,750 and may be financed by the FHA. Purchase requires $3550 down .with monthly pay- : ments of $71. which include "all ‘taxes and insurance. * : : 3 CT Gity. Sewers

FAIRHAVEN HOMES—28 new homes going up at 3300 N. Manor Court. They cost $12,750, :

Today windows come complet e-| And yowre footing the bill when | ly _weatherstripped and ready for you buy a home. : a Installation, Tn 1939 it was just] Rut as costs have risen, hetter|

mora work for the on-the-job lab- and more economical ways to Joins Partlow Co. Wins Promotion

or to do—or for the home owner build have been found. And tnto wrestle with,

day's home is the ‘hest ever built : : And this consolidation of op- for the cost. Tt has mor . Mrs. Mary Jeffrey, a leensed In Indiana Bank

e planerations at the factory saves you ning, better materiaiz. p real estate broker with six years,

“the sales staff of the Paul Part-

| low Realty Co. Real Estate— . Mr. Partlow an-

nounced this

{week. The X Factor [me

by the bank’s board of directors. Since the mer(ger of the Indijana National

{the sale of North Heights Presby= =~ nyo Jeffrey [1050, Mr. Evans lfor builder-developer Warr qn bank's trust de-

[Side » residential properties, She [l= a member of Union Trust the Meridian company in By DON TEVERBAUGH terian Church, Times Real state Editor The Partlow firm is currently "2 hea dey a he WHAT DOES this week's relaxation of Regulation X handling the sale of homes in the "a! estate divi mean to today’s home buyer? new Wrightson Heights addition/®'°n © e _.. Mostly, it depends on what priced home he wants to ‘Wright. The homes are priced be-|Partment. A staff buy. The biggest breaks—percentagewise—came in the tween $18,000 and $23,000. upper half of the medium price] " range. .That would be houses]

these defeats came in 1 An-| | ~ For the low cost home buyer, as «08 An ‘On War Jobs

Predicted, the relaxation is prac- geles wierd voters “X-ed” a Plu- {left in cstates, and allied work. |, ou 4 to inspect the construo-|sylvania St ‘high percentage of these type house that is obsolete in design Healy eninge. nay fiaiity ot E000 SEAiL! 1ax-sub-) Times Sueeinl | A bank employes 33 years, Mr. tion methods and materials go- | The Spann Co, Ine 2141-43 Mortgages already in their port- and Soustriction = except at a 3 § sidized housing. It was an impor-| § 0 ly oneim., . {ans ne rs price, nd not only that, the just as low as they are going to por-| WASHINGTON Only one mang jong has been active in In- ing into the new homes, |Rallefontaine St. 6018-20 College 01108. are not hmying the ood Rowrcs,

go regardless of what the government does.

gost, are out of the question 80 ggginst public housing. far as the mortgage lender is But he did concerned. He won't touch a 100 . : ' Ins hitects. per vent home lon. The results indicate that the Institute of Architect And with the current tight mortgage money situation, the lender can be choosey about how much he’s going to demand down. And he will be.

» ” »

new-found realism. He’s given up quarter of all architectural offices

wishful thinking philosophy.

Self-Cleaning Paint

THE OVERALL EFFECT of Here's something worth think-|jobs. the alight relaxation will be ing about when you make plans bardly noticeable, most builders to paint your house, agree. Harry Baxter, manager of tne per cent were curtailing their

employment level as steady, 10

Alan Rrockhank, president of duPont store at 249 W, Washing- staffs, and the remainder of the Robert J: Wechsler

the National Association of Home ton 8t., called me on it. {returns were from one-man of-

Builders, doesn’t pull his punches. Tt's duPont's self - washing fices typical of many smallér Assumes New Duties

He sald bluntly, “This token paint. The self-washing angle communities and suburban dis-

pelaxation of credit controls on isn’t riew. It's been on ‘the mar- tricts, Oni Theater. He “Mise Gaylter | home buying is only an effort to ket since 1930. But the du-Pont| aE T Ne BR ran eing Co. also ‘developed ford Avan he Novae oe pblic Interest, of Sourse, (fo "thei Ton ward off complete elimination of paint eliminates the streaking ef- Hershberger Heads Corp.. has been elected ' board the East Highlands addition at Ha pi IR 5421 Washington And when he returns if, you're or I th is lb ; | orp., $ 3 : : . ot ! d to think him a great guy, ? : " ’ oi these controls as Congress has fect you get director of the Celtic Federal Sav- Post Rd. and-E. Waahington St ym § % stone. To the seller it is home,

Indicated it may do.” The streaks are caused by the Savings & Loan Credit controls governing pur-| color washing out of the paint. chasing of all other items have After paint has “een applied, dust! T.ouis M. Hershberger, head of been lifted by the government. accumulates on the surface. A the Union Savings & Loan Asso-| That makes it pretty obvious the fine. ‘white. powder (caused by|ciation of Crawfordsville, this! government wants to control the oxidation) develops and washes week was elected president of the housing supply. off with the next rain. Savings & Loan League of InJt is just as obvious that the Is natural washing process diana at their 60th annual meet-| most direct way to bring down actually wears off duPont paints ing in the iL.ncoln Hotel. the coat of housing is to increase uniformly and when it comes time Other officers elected are: Wil-4

vice president, Itz supply. What could possibly he fo paint again you don't have 10 iam Nn. Cameron of Connersville =

more anti-inflationary than thig? worry much ahout scraping and Favette County Federal savings Material Costs Down

chipping off the old paint.

et ———————————

” » ” A 13-CITY SURVEY hy the

Wall Street Journal found prices Jack i. Bush

on old houses have skidded sharp-

& Loan,~first vice president; Wil-|

| vice president.

ly in many areas and prices on : ' Lester K. Bing of Anderson 18 year ago, to 1179 now, the U, 8, attractive separating device be- July activities for the ladies and W® Were under the regulation, new houses also have been Joins Adams Co. the outgoing president of the or-/Bureau of Labor Statistics re- tween living and dining areas in Catherine Winchester is in charge total sales reported were $13.- many of us to encounter pros

Mrs. Mary Jeffrey Walter M. Evans

experience, has been added. to Promotion of Walter M. Evans. hinations, five closets, full base(veteran Indiana National Bank ments and automatic gas heat. slipped under the half million house, or to sell one. real estate expert, to the office of | Included in the price is a gravel qollar mark for the first time in| assistant cashier in the trust de- side drive and a sodded front eight weeks, Chairman Guy partment, was announced today lawn. Boyd of the Associated North,

Bank and the #8

|of six persons, under Mr. Evans, decor | compromises the realty organiza- . {Blvd,, 2106 BE. 86th St. 2180 E. cent. -

{and dwellings, sale of property|, . ... Prospective buyers are] Willis Adams—5701 N. Penn- their investment, considering the

fart victory for fres enterprise architect in five is Working on a giananqiis real estate circles. He gas

because the Los Angeles voter defense building project. But the .. o nact president of the Indian-| Coulter Firm New homes to he sold without had a $12 million lawsuit staring architects with such jobs now polis Real Estate Board, the So-| . any downpayments, regardless of him in the face if he voted have the busiest offices, according ciety of Residential Appraisers, Active Again [to a survey by the National De-/the Indianapolis Home Show, and | |fense Committee of the American past treasurer of the Indianapolis |; oldest i {Home Builders Association. American public has accepted a| During the survey period, one- | From 1943 to 1947, he was; chairman of the on this “something-for-nothing” reported they were increasing/ Emergency Housing Committee, ;.. will {their working force of draftsmen, in charge of making homes avail- the (specification writers, and other able for war workers and return- |, i ... started {employees. These were the largeriing veterans. He currently is ay. on (firms engaged on big defense member of the national commit- father =» half

|tee on professional standards for Another quarter reported their| reg) estate boards. :

Robert, J, Wechsler, secretary

{ings & Loan Association. | He succeeds the Michael W. Lyons as director.” | Other officers. elected at the Pout three-fourths developed. Lady Realtors Plan board. meeting Thursday include Leo ¥. Welch, president; John R.

Welch, secretary; Mary K. Dwyer, . 9 treasurer, and Frank P. Rogers, and Warren Township High The lady realtors of the In- the Asseciated North Side Real- spective home buyer: The time to

| Index to the wholesale prices gi i lard Jordan of New Castle Henry or huflding materials with 1947 New Trend Mrs, Maude D. Westover {s/tion X. ounty Building and Loan, second prices listed as 100, has fallen] Glass shelves separated by chairman of the summer activi-| But for the same corresponding Who are looking for the so-calleé 3 steadily from 120.9 “plan

i F- "The - addition: features cement North Side RR fT : ; ; . pi ’. : i ; . 4 ry EBD ows cand etn ers Regulation X's Passing |swerage facilities. A new, ele- ) / | | ; : y ; xt 3 | : { meee wr ne Sell 31 Parcels Won't Change Market

{son Ave, will serve the c¢om{munity . By ROBERT FE. WALKER

i » | The houses, which all have dif{ferent exterior design, have “I> rng

{shaped living-dining room com-

: Walker Realty Co. : , Don’t be fooled by the government's relaxation of

Noth Side: real estate activity Regulation X. It will not make it easier for yo uto buy a

Now is not the time to raise the price on your home

if you're selling. A hasty reading of the govern-|©f those who bought the small

ment’s announcement, easing four and five-room house have

eredit restric. tions on housing, can be mislead-

B The bedrooms Sach Lave a Side Realtors announced today.! large walk-in close sliding ' doors. A china closet is Bufitin|,, THY SEOUD Pepored a joual ol

{in ‘the dining area. week, Secretary Wayne Whiffing Hardwood Floors said.” ‘The sales:

found it no longer adequate for {their needs and have moved into {larger and more expensive homes,

The kitchen has inlaid Ii- ing. What they _ ate [ noleum flooring, as dees the tilal - Gregory & Appel, Ine.—710 as not tell »y This partially accounts for the hath. The other rooms have Nottingham Court, bia. is that increased dollar volume in males | ; Pune k each year over the preceding

{hardwood flooring. In the kiteh-| Bruce Savage Cn. —1655 Beeler ipova {x plenty f [en are Formica topped work St, Speedway; property on U. B..0¢ mortgage ¢ counters and roomy maetal/136 four miles west of Speedway, money available. { cabinets, 14219 Guilford, co-operating broker|, + not at the | Interior decoration is modern Haynes Realty Service. low interest rates {in design and if the homes are| Wayne W. Whiffing—809 W. pegged for FHA (purchased before completion, 27th St. 954 W. 28th St. land VA loans—

(buyers may select their own| 5. Berger—3807 KE. Kessler 41, and 4 per

vear, This and the post-war inflation or devaluation of the dollar, But why the sahundance of houses for sale, you ask? 8Simply that the supply has caught up with the demand and for the first time since the post-election slump in 1949 the market is

Mr. Evans

Mr. Walker

: Fifteen homes are now in | {tion. Among the department's| .. stages of construction|® 70 8t, lot 28 Canterbury annex. go far as the lending institu- reaching a point of balance.

Buyers Are Choosey

Rosslyn Ave. 4502 Ralston Ave. offer an unprofitable return on] poured for all but one of the, p Buyers are not buying the

eve — {Ave Now all this does not add up to

as dark a pictured as one might 1 Ha Hotiel Co.- 0310 Parker imagine. Practically all lending

i not look up to snuff. Many buyAve, 6800 Brookville Rd, 6226 | companies have plenty of money

ers are willing to compromise [Parker Ave, available for conventional loans ‘heir desire for style and latest

| Ford Woods=—5038 Hillside Ave. | tes of interest consistent with|8immicks and will trade for The name of Coulter, one of! at rates of int : more space, but they are not in Indianapolis veah R. E, Peckham—2426 W, 66th the going price for money. willing to pay a premium price

[estate activities, | St. | True, they will not loan as much n the te IL aga) Se FO: Tucker Co—3448 N. But-|in all cases on the same collateral To Ro oN hen Me it 3 Indianapolis catherine Coul- : {ler Ave., co-operating broker Mar- as they might have 08 38 insured habitable or more modern. s e two- / . resume \garet Evans Co. loan, but usually it w The lesson here is for the sell-

brokerage | Harry L. Robbins—Iot in 8300 | [IES oF BE ers who ‘expect a ready sale for {block N. Meridian St. a {their property at a good figure, {i William I. Bridges & Son — The Reason—An Excuse |Either fix the old house or re{5501 Haverford Ave. | “ ” sition of duce the price and put it in a ¢ | Edgar Brodbeck—3850 F. Kess- |, 0 [SH at Ret fla. competitive position with com. lee Siva. _ tionary conditions,” but there are PArable properties, In most cases | Norman I. Hammer — 6007 those who charge the “reason” $500 to $1000 will do what the {Primrose Ave. was really an “excuse.” buyer believes it will take $3000 | A. H M. Graves, Ine—4105 =o oo politician to look good to to accomplish, (Carrollton Ave, 1418 N. New, . ..nlie, he must give them Many sellers simply refuse to Jersey St. . something. Having nothing to heed the advice of their brokers | Margaret Fvans—H840 Haver- give, he first takes away-in the and prefer tn kid themselves as

that for reasons of neglect, do

late

century ago. | David A. Coulter, a . charter {member of the RealEstate { Board, built and operated the

Blvd., co-operating broker F. C. ,,4 hurry to the polls to vote for i en oy oe Tucker Co.; 5523 Central Ave, [pi HUY i pleasant memories, sentimentai late Msgr. | mn {

- can argue | reflections, |addition, The subdivision is Be TIe 18 BD one Whe Sah gu | Toe enn potent. broker: wiil res As evidence the regulation had [oncile ‘these two interests and Ino effect on the volume of real| Viewpoints and transpose one to lestate sales, at least in this com- the other. munity, the combined sales of, A word of advice to the pro-

Only 40 lots remain.

East Highlands is adjacent to Dinner Outing Cumberiand Elementary School

School. The area is desirabf® us! dianapolis Real Estate Board will {PUY a house is homesites for emplnyees of plants enjoy the first of their three (is 8 SVINor OF (he, (SE (UC) (lol the advien of a competent located on. the oity's. East Side, Jammer atin anor Lrirst week of June, 1051 were and experienced realtor). We see Miss Coulter said. ut ag Hard Rr southwest $11,572,827, During nearly all of [many prospects who are constant. . of Mooresville ’ this period there was no Regula-|1v #eeking the perfect house . | There ig no such thing. And those

in April a glass block supperts provide an ties, Ethel Bromert will plan the Period of 1952, during which time bargain. ! It was not at all uncommon for

fimmed, despite a general Sm-|. 5, p. Adams Manutacturing Co. [E20ATON, "gers. new home construction. for the August program. 207,578. pects tn 8 and 1547 40 Who . : . : mn] persatmn mei Tt rem tne nt ee tee tent re | we had shown houses bac ¢ ; One Chicago realtor said it was local manufacturer of road ma r he Sales Ahead of 1951 [late Thirties. They were still wait- 3 the first time in the last 14 years chinery, today announced the ap- * | Now if sales~this ‘year are ing for ‘prices to come down. In 4

pointment of Jack I. Bush as’ company con-/* troller, i Mr. Bush, af Certified Publje Accountant, was formerly a partner in the ac-, eaunting firm of George: 8. Olive & Co. He is a graduate of the School of Busi- Fi "ness of Indiana Hi University and § ; holds member-§ [ship in the American Institute of {Accountants and the Indiana Assoclation of Certified Public Aecountans, He 1s a former lecturer at the the count, Indiana University Extension.

he’s seen a buyer's market, Realtors everywhere say houses are on their hands longer than they were a year ago. That means they're harder to sell. On the older houses, it is hecause asking prices, generally, are too high. For the newly built home it iz because of high downpayment demands, the survey showed. (Read the article hy Realtor Robert Walker, printed an this page, to learn what effect reJaxed down payments will mean to people who intend te séll their home.) ,

The People's Choice

When the public is given a fair ehance to. voice its feelings, pub!

Mr. Bush

t in 37 nf 48 cities where a in the United States Army four ings. New : Hie vote has been taken. A PUD: years during World War IL | and ITS To, Rowen lug vi

SOUTHEAST SIDE—Price Garland of Robert Graves Real. Public housing has heen voted Center inIndianapolis and served tors, sold this home at 4866 English Ave, for builder Minna Zeil-

Bernard Grangier

jshead ol i year, wiiy gre there (he meantime their children had i Jo str ay, Ad the ner may” be Gin Sents of leamure that can [following facts. | come only from living in and ] We have emerged from id Le Nn Td Ba oe had o

period after the war when tre-| “- 4 mendous pressures for shelter (2{U0US idea of finding a “bar. i

{alone existed. Just as the auto|S24- 9 ‘dealers have found the nl A home should be regarded as

ig410 longer for mere transporta. ® Vehicle to comfort and pleasure ition of any kind. Buyers are no 2nd not necessarily a vehicle to ‘longer satisfied with any old | profit. If it should provide both lerate for the family bus, they then you are indeed fortunate. {want something better and they/There ig no other commodity one are buying it. 7 uses ahd hopes to dispose of And that is what is happening after it has served him well (un» in real estate. As the frenzied|less it be x rare gen) that does rush for housing has subsided and [hot take a reasonable deprecia~ people have time to plan for the|tion for its use. fs |future—not just be concerned| Those houses that are languishi ’ wn | about the Jrotuadiste pressing’ ng ihe market Joday 4 are only hg i problem o ng A roof over langu because the o this WEST SIDE-~Gideald Morrell il wife te the ve swnnte of their heads --they have naturally refuses to take a ne pr ioe em oro. : . Holmes Ave, [become more and more selective. ation and closes in

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