Indianapolis Times, Indianapolis, Marion County, 27 July 1952 — Page 37

Page PDF (9.01 MB)

Back to issue view

7, 1952 est

and brush bowlful of dirt pare lckly.

Beauties

he ground with ters I

for Only

ovely °

Washington

ASE

BY ED

Inc. CER 70

ind of pracyour values in good t to Eagle 0, for the hrubs and Ir salesyard e planting. ry, US 52, of Traders sitors Wel-

re een at Stark's. companion vhite édged itark’s and is ever dew iris and at Stark’s. evergreens fall plantTibbs. BE. me.

are imporrs and soil liam Cooley Gardens. At horticultury bale or ,. good-look-evergreen ng, shrub fal or rose nulch saves loosens to Wayside Wayside's young ever5c. Wayside l Pendleton

Eg x

pce. mee

ERR

in RRS

i i

Section Four Real Estate

- The Indianapolis Times

Real Estate Ve vene sansdieiGg ; Business Sri eases viel 2

Small Home Plan ...........52

; SUNDAY, JULY 27, 1952

hb]

house to rent? Community Builders, Inc.,

are now putting the finishing | gouches on 17 new homes in SE 100 through 3300 blocks 6f E. gi 424 St. : Seven of the units now being completed will offer 840 square ! feet of living area with a car | port and a covered porch. Rents § pegged by the FHA are $91.75 per month. +; Ten larger units, which have |! about 940 square feet of floor | space each will rent for $99.5Q per month. Floor plans including a livingdining room, two bedrooms, kitchen, bath and a utility room. All are heated by automatic controlled gas furnaces, Equipment included in the homes—a" Bendix automatic washer, large kitchen cabinets and sink.

Walk-in Closets

The bedrooms have floor to ceiling walk-in type closets which take up one entire wall in each room. There is extra storage space in the utility room and a large storage cabinet in the carport. Also recessed in the carport is a garbage can. All homes include a side or front drive and sidewalks of eoncrete. Service and utility .parts of each house face to street, assuring complete privacy for the liv"ing and sleeping areas. : Construction includes a slab ‘foundation, mixed shingle and frame siding, drywall interior partitions, asphalt tile floors, sliding Alwintite windows—ex¢ept in the living room, which has a floor-to-ceiling insulated window wall,

| After matching the 1951 'pace almost stride for stride

~ |through the first five months lof 1952; real estate activity {in Marion County stumbled slight{ly in June. Mortgage activity was off about © 13.3 per cent compared to a year

12.5 per cent. The Union Title Co. lists a total of 6459 mortgages for the first half of 1952, as compared to 6678 a year ago. Deeds registered in the county total 9448 during the first half. For the same period during 1951 the fiugre was 9697. The total value of mortgages registered in the county was $41,407,864, about $2.3 million under the first half of ’'51, the Union Title report showed. { The big drop in both mortgage and deed activity came in June. Earlier paces were quite steady and compared quite favorably with 1951. June deeds recorded at 1644

were off 153.

Volume Spurted in ’51

pares: favorably with

the month last year. However, realtors report that * activity has started. to pick up sharply during July and expect that by the end of the month real estate volume 11 agdin equal ithat of 1951. Brokers handling open houses last week end reported increased | buyer interest, despite the humid 'hot weather. | The weekly sales report of the

| a

Explain New |

Gl Housing | 4h Side Realtors’ Benefits

Freedom from an unfair « Sales Over Million

in in| : | eral lax on the fapital gain The Associated North Side;N. Pennsylvania St., 32 acres on Ia ‘Realtors sales report bounced up W. 44th St., 3680 N. Delaware St,

for the servicemen on active duty. | 1 C/from it’s worst of the year a home in Zionsville, 5109 N. CapiJoseph W. Lund, Boston, presi-| A rating broper]

iation week ago to the third best since|tol 1 Sout of am Asa Taruity, Chairman Guy Boyd Jr.|A. H. M. Graves; S05 QulvesH today. jannounced this week. |Rd., co-operating poke alt| “Gaining this benefit for the| ‘A total of 74 properties were | Veon Co.; 1420 E. 79 a ow gervicemen has been one of this/sold—the greatest number listed | Operating broxer Ro ee - year's legislative goals of in the group’s 1952 weekly re-| Walker; Percy Lain open NAREB, which was instrumental ports—worth a total of $1,032,500, Moore Rd., Sovran ng oles? in obtaining congressional ap-announced Secretary Wayne Russell Fortune Jr.;

JUST ABOUT READY—AIl are two-bedroom units. Man and Wife Form Company

{more than $1 million. The group also hit a new high

{sales reported—T74.

Housing Starts Slump in June

In June, for the fourth con-

lago and deed transfers were down 1

Classified ............ 39:5] ,

PAGE 37

17 New Rental Houses Are Near Completion Reg] Estate Activity Ea Slightly Under ‘51 Pace

| |

lege Ave.

{ Of modern California design Actually activity this June com-|/and built of Indiana limestone other and Briar Hill sandstone, the new months of 1952, but is shaded by building offers 4500 square feet : a sudden spurt experienced during of floor space and includes seven : oo) suites of offices. All but two have| =. 3

{ {been rented.

The location is tops for a med{ical building, says Mr. Carter. | The site was chosen after study of Indiana Medical Association . lsurveys. It also took a certifica- estate salesman like to hang on today’s home buyers can tion of necessity from the National Production (Authority for la steel allotment for the struc-

| |

ture. The floor plan of the buliding analysis of the market, |Associated North Side Realtors was designed particularly for doc-! bounced up from the year’s worstitors and dentists. ito third best of 1952, totaling! Most suites have their own re- savings account figures prove i |ception rooms and there are lav{atories in every one of the 22 {for the year in the number of examination rooms. has separate thermostatic control and radiant baseboard gas

Iheat.

Alongside and to the rear of the building are parking spaces fer tenants and patients.

Broad Ripple Medical Building Ready

Real Estate Golf

NEW MEDICAL BUILDING—Ready to serve Broad Ripple area.

Gil Carter Realty Co. this week : this June were 41 under June, announced the completion of their| ate 1951, and June mortgages at 1138 new medical building at 6060 Col-|

Real Estate—

Y What Picture

In This Window?

: By DON TEVERBAUGH = - Times Real Estate Editor . THAT PRICE-CONSCIOUS tag home builders and real

be a dangerous label. : Dangerous, not because it is wrong, but because it

{i lipshod | |indicates what might be slips |offering newer and improved m od

’ iels, Mr. Smith advises. Today's buyer has more money Tt you'd like a copy of Mr.

f jin. hia jeans thaji ever be Ore | alte interesting new hook,

: send §1 to Southwest Research Hes Bek 35 uch Sone med abt { Institute, San Antonio, Tex, and about how much, value’ he gets A%K oF ey Frontiers For for the price he pays. + |Home Builders”,

And that's a pretty big ditfer- Small Homes, Hmph!

Jence. That's one of the factors C. W.| One current issue of a nationd garden magazine

Smith, director of Housing Re-|21 house an

Each suite

Institute, brings out in his new red plans for 168 small homes. book, “New as for Home Like many other people I bought Builders.” {the magazine to see the small

| lough St. co-operating broker, mr, Gentry Mrs. Gentr ‘secutive month, more than 100,000 {home plans, ‘ roval of a law last year which Whiffing. i . y Mrs. yy | o The housing frontier is getting! : : pa other homeowners from the| Tops for the year to date was F- M. Knight Co. . nonfarm housing units were] to be a wild and wolly place these| I found one plan for a “Week inequity,” he said. {the Feb, 18 report which listed] JACK OC. CARR, INC.—3145 N.| Paul and Marie Gentry this stated, the federal government [ya g* days. {end House” which offered about The law provides that when sales totaling $1,130,200. Second Kenwood Ave, 415-21 E. 24m St, week opened their new real estate has announced. June starts we WINGS Named a 11200 or 1300 square feet of id sale of a taxpayer's residence is/best was the $1,117,600 volume 432 Oakland Ave. 347 N, Lay-ig,.mn pearing their name at 3333 reported at 108,000. “HERE is no excuse forarea and another floor plan , a

followed within a year by pur- |reported June 23, Mr. Whiffing man Ave, 441 N. Cecil Ave, id 5. Madison Ave. chase of a substitute, or when the said. {LeGrande Ave., 1247 N. New Jersubstitute is purchased within a| 'The sales: {sey St., 5338 E. 10th St., 3723 N. year prior to the sale of his home, capital gain for tax purposes is t0/ang College Ave., 4044 Broadway. 4145 Kitley Ave, 60 N. B be recognized only to the extent) St., 2216-18 Broadway, 1021 N. persons. >. BUTTERWORTH & CO0.—1340 d Dr. | the selling price of the old resi- [Tibbs Ave, 1345 Maynar wl ’ E. 55th St. d Ger-| The firm now dence exceeds the cost of the new. 20 E. &fst {property at E. 10th St. an e In the case of construction of] GIL CARTER CO—T720 E. 81st, a new house, it must be occupied 6461 Broadway, | within 18 months #fter the sale of Ave. corner lot Westfield .andipyeq ¢, Tucker Co.; 3627 the old Kessler» Blvds., 301 N. Fleming! , catts Ave. The legislation signed last week St. re : year, they will cut the required by the De: provides that] HARRY L. ROBBINS REALTY, [the immediate future, Mr. Gentry down payment on houses to 5 such one-year or 18-month period |CO.—tract at 9300 Kerwood Dr. | {announced. The firm will spe- per cent not later than Oct. 1. shall be extended to include the] FORD WOODS & CO.—813-15| as em d es cialize in South Side and South| The June figure of 106,000 was shall § i no NS re Ee friVils Ave diboigh Suburban residential and business 1000 less than May and 2000 less : ; § ; sales. | : : the date of male of the old resi-T ROBERT E. WALKER—1607 1.1: than April dence ahd before Jan. 2, 1954. The E, Broad Ripple Ave. co-operating; | period, however, cannot be ex- Joe Berger. tended beyond the date which| DRISCOLL REALTY co. | falls four years after date of 635 Central Ave. |

sale of the old home. Other New Benefits N. Pennsylvania St., co-operating construction contract awards in Signing by the President last broker Hall-Hottel Co. the 37 states east of the Rockies week of the new GI Bill of Rights! A. H. M. GRAVES—5240 Ken- qyuring the first half of 1952 fell g wood Ave., 1274 W. 29th St,, 3336 12 per cent below. the record:

for veterans also marked attain-| $ ment of a legislative goal of N: Manor Ct. 6103 Kingsley Dr. yy me of the like 1951 period,

NAREB, Mr, Lund said. Among| JOE BERGER—5413 Primrose py w, Dodge Corp. revealed today. other points, this law extends to|Ave, lot 137 in Norwaldo, 6174 Total awards for the six veterans who served in the Armed OXxfort St. 5267 Kingsley Dr. ‘months ended June 30 fell to) x Forces any place in the world! WALT VEON CO0.—6185 Nor-'$7.75 billion from $8.80 billion a a since the start of the Korean con- waldo Ave. 9286 College Ave. year earlier. i flict on June 27, 1950, similar 5920 Ralston Ave, 3917 Devon| The company noted that minus nome loan benefits as those en-|Dr., 6302 Hoover Rd. jie $980 poison in Alornis Enerey] i : i INES ALTY SERVICE Commission awards’ included in; oye Yeterans Of World 1% aL ™ ERVI (the 1951 figure, the current figure) Home loans may be guaranteed F, C. TUCKER C0.—3911 Car- Ie Soy 1 per cent below a year for up to 60 per cent of the loan, roliton Ave. . ut the guaranteed portion may| , M. KNIGHT REALTY CO 1 illion. a decrease of 5 per cent not exceed $7500. Other real es-|10248 Broadway, W. 106th -St., Tors Bey Dut Eh itereate of 6 tate loans, such as for a farm,i1215 Centennial St, 1816 Com- per cent over the like 1951 month. lot, or gommercial building, may merce St. 3022 Winthrop Ave. y.4iviqual totals for the 6he guaranteed up to 50 per cent, 1850 N, Harding St. month period . compared with a with a $4000 top. | THE SPANN CO, INC.—3787

i year ago are as follows: NonIn the case of World War II Creston Dr. (residential, $2.69 billion, off 34 veterans who have returned to)

{ RUSSELL FORTUNE JR. — per cent; residential, $3.34 billion, active duty, their unused loan|s;o3 N Meridian St., co-operating up 1 per cent; public and private entitlement will be replaced by proker Willis Adams. works and utilities, $1.71 billion, the same amount of entitlement) j g yj, REALTY ©O. — 3371'up 21 per cent. under the new law. Net result 1s/wallace St., 3057 Broadway, co-| Individual June totals compared that they will have 10 years from gperating broker Butterworth & with a year ago showed; Nonthe end of the present emergency (lo. 3146 Ethel St., 1841 N. Euclid |residential, $551.5 million, off 1 lo obtain GI loans and will not| Ave. 3356 Wallace St, 3117, 3121, per cent; residential, $581.79 milbe bound by the July 25, 1957,[3125 and 3129 Priscilla Ave, lion, up 7 per cent; public and GI loan deadline set up in the, BRUCE SAVAGE CO.—5H002 E. private works and utilities, $355.55 earlier law, {34th St. 4323 Kingsley Dr., 3357 million, up 15 per cent,

| That was substaptially

includes two TC}S over housing.

Massa- (Norman McDonald. Other addi- rate at which housing starts are tions to the staff will be made fn] Mle Ses above 12 wien 8

Spann Co. Adds to Staff

By United Press M. G. GERDENICH €0.—8228)] NEW YORK, July 26— Total

SALES DISCUSSION—A program ‘of sales is

the topic as Berkely Duck Jr., vice president of The Spann Co., Inc., (seated)

3-Bedroom Colonial Is Open Today

confers with three new sales staff members. Left to right, they

is a member of the Associated North Side Realtors.

HELD OPEN TODAY-—The public is invited to inspect this new stone and frame Colonial home at 8699 Spring Mill Rd. Atkinson & Co., builders, will hold the three-bedroom open today from 3 #6 & p. m. It includes 2'/; tile baths, a den, full dining room, fireplaces in the living room | this attractive five room bungalow at 4801 E, 21st St. It was sold ‘and basement, and space for two more rooms and another bath with electric and plugbing lines | for Mr, and Mrs, Joseph E. Norton by M. C, McKinsey of Jack roughed in. The price is $39,500, » : ; : © | GC Carr, Inc. A

EAST SIDE—W. H. Overholt and wife are the new owners of

less Man and wife in private life, than in June of last year and the FIEBER & REILLY—106th gt.| DeQuincy St., 4960 Kingsley Dr., the two Gentrys are native Hoo- year before. Also, it was not a annual

Beville siers and experienced realty sales big enough figure to head off a planned relaxation in credit con-

are G. G. Howard, L. C. Huey, and R. E. Bowles. The Spann firm |

i 1

ace was,

ling set and three golf balls for the

{par 89s for top |prize were Wal{ter Felker, Dick and

{Miller

golf

| The third of the season’s five ture windows overlooking street! EE Indianapolis Real Estate Board's traffic when a living room viéw houses ranging in size from: 1800

tournaments was

completed last week and spiced gmith |by a hole-in-one. :

The Federal Reserve Board and, Dealing out

man Church Rd., 4545 N. Dela-|others on the sales staff. They the Housing and Home Finance Rat

5740 Hillside, - i { [A S { ware St. co-operating broker are Mrs. Margaret Hester and Agency revealed that unless the ogg, who 'woB

lhimself a carv

Wayne Whiffing.

three-way tie at 79 between John|, a1

Mr. Whiffing Low gross came up another inat houses should be placed par- 800d indications” that the 4 pre

|bullding houses with large pic-|a home of ‘about 1400 square fee! The other floor plans were of

can easily be arranged to over-/to 4200 square feet. oo Now I don’t know what this | imagazine's edtiors consider small, | And that’s only one of his many|but the average house built in this {bombshells. The book is well nation during 1951 averaged about {worth reading for anyone think-{1000 square feet. That's .an avling about buying a home—and erage sized house, not a small {certainly a must for all builders one. os

pe eaten. in rocking OPtimistic VA 3 eople no longer sit in rocking {chairs on their front porch—they | _ Veteran Administration of|prefer the privacy of a patio or | ficials are predicting an upsurge terrace. And the builder within GI home loans late this sumforesight is planning homes to|Mer—about the time the goverafit this change of living habits, Ment may remove credit controls { points out Mr, Smith. |

jon real estate. - “Who invented the superstition

{look a private garden,” says Mr.|

They say there are “some pretty

with the street or parallel Cent mortgage money famine will lease

Wallace, Tom Black and Frank|iin each other?” he asks.

Schmedel.

‘Realtors Stage Stag Outing

Next Thursday is the big day—| clothes,” comments

Mr. Wallace also won the prize for the longest drive. Eighty members and guests ing breeze, why played in the tourney and 81 en-| {joyed the after-play dinner inthe Hillcrest clubhouse.

If it is desirable to have the Hmmm.

| bedrooms exposed to the prevailshouldn’t the For Moderns Only

house be built accordingly—re-| Cleveland, too, has a developgardless of which way the street/ment dedicated to the building of runs? contemporary homes, reports Jim It doesn’t cost any more to Chandler, Cleveland Press Real carefully plan land development, Estate Editor. he adds. A | Homes are built on. sites rang: a ling in size from one to three acres “STYLES CHANGE in houses and come in three:bedroom, two{just as they do in women’s bath models. They include StorMr. Smith./age walls and massive fireplaces

{the annual stag outing of the In-' “Tq a great degree they reflect and sell for about $24,000,

{dianapolis Real Estate Board. It'll. noth the practical needs and the|

So far none of the flat roofs

{be the board's 12th such picnic esthetic expression of a particular have buckled because of snow

and, as usual, ‘will be held at the society, Moose Lodge Country Home.

Albert Paetz is chairman of the fitted our pioneer economy’ very

loads, despite record snowfalls.

Fanny May's Back

“Cape Cod and colonial houses

event, assisted by Glen E, Burtl.|\we|)_ just as bustles and corsets| The Federal National Mortgage Rain or shine, the realtors will ware appropriate in the 1890's, A$sociation is back in business

have their picnic, The Moose club po writes. house is large enough to accommodate 300 persons, Better order your tickets

says.

| now,

Four Indianapolis

Men Join Institute

Four Indianapolis realtors were business if they did not reflect among the 152 new members to What their readers want,” Mr, join the National Institute of Real Smith writes, Estate Brokers, Eugene C. Fretz,| group president,

| Knoxville,

|nounced this week.

They are:

Fred T. Hill, Robert FE. Houk and desire for new designs, so too, will John A. Wallace, institute now has 10,746/for new houses be realized whenito attend

The imembers,

{ NORTH SUBURBAN—This 1600 square foot home Barlum Dr. was sold by Maurice Davis of the Walt Veon Realty Co. The home has three bedrooms,

one finished in mahogany paneling; 1!/, baths, a dishwasher and dis and radiant heat. ‘owner is Kenneth % Crider ng: 1s A pov WL

Bill

again, But they'll only handle No woman would wear 19th FHA and VA insured mortgages century clothes today, nor do On defense, military and disaster | people today want to live in 18th |housing. ; and 19th century houses. | Fanny May's purchasing au “If you doubt this, read ecur- thority has now been increased rent consumer and professional P¥ another 900 million bucks. magazines dealing with housing. gsr

These magazines would go out of Apartment Owners Set Outing Aug. 16

The Apartment Owners’ Asso Just as the steady demand for ciation have announced that no an- new clothing and automobiles is July meeting will be held because {based not on the fact that the old of the many members on vacaAnkenbrock,/ones are worn out, but on the tions. However, Paul Coen, president. a continual and steady demand urged all members to make plans the group's annual builders stimulate this demand by summer outing Aug. 16.

Mr. Paetz

built by the Case Construction Co. at 7924 New

search of the Southwest Research advertised the fact that it car- ..