Indianapolis Times, Indianapolis, Marion County, 3 August 1952 — Page 37
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Section Four
Real Estate
oosiers Trade
The Indianapolis Times
Real Estate versed sneeany .37-52 Business: ..... vv: resunnioadl o ‘Small Home Plan ...........52 |
TOURIST EYE-CATCHER—Coffel Apartments in Florida figure in all-Hoosier transaction.
SUNDAY, AUGUST 3, 1952
Builder Throws Own Home Open
OP
EN TODAY—A builder's dream home.
How Can |
an Appraiser Help You
When You Buy or Sell Your Home?
By THOMAS KELLER - Secretary, Keller Realty, Ine. Few people ever enter into
a transaction involving as much money as the purchase
or sale of a home more than once or twice in their lifetime. And when they do they find themselves forced to make decisions on matters com- i pletely unfamiljar to them. For most home buyers: the purchase’ repre-: sents a’ very.
references in his files for com-. parative use. | Then he'll make a close inspecition of the physical property it{self for advantages and weaknesses depending on the intended] use of the building.
Does It Function?
If it's a home, is it functional-';o¢ ore than that of the deed {ly acceptable to present standards |p, 1qer,
of living Are the bathrooms| pai again the appraiser is
This is the seventh of a series by “The Men Who Know” real estate, presented to Times read- | ers to keep them alert to changing trends. With the co-opera-
)
these reports will appear ex-
\ adequate and well arranged? Are |, ying out for your interests. In| ~ [kitchen facilities up to date Or yg thinking, he reasons how de-
obsolete, well-planned and effi-| opie is this property as Yosal cent, or awkward with wasted security. space? Is the heating plant adequate, are bedrooms large enough |
Summarizing the Appraisal
tion of.the Real Estate Board, || storage space and closets. Off
clusively in The Sunday Times. | black tile bath with pink trim|
to Public
Heres’ your chance to see the kind of home one of the city’s top custom builders de-
signs..and builds for himself. The home will be open today from.2 to 6 p. m.. Located in the brand new Highland Manor subdivision, immedi-! ately south of Kessler Blvd. on Lieber Rd. (700 west), the home of builder Harold Honderich will be displaved by realtor Willis Adams. Mr. Adams will handle the sale of all homes in Mr. Honderich's addition, It is a large rancho, offering 2752 square feet of well planned living space. Construction is of Indiana limestone and Florida brick. The latter material is new in this area. It is rose colored and comes in random sizes. The house has a recessed front entry with an unusual green and white Verdi antique marble hall. | 4 covered with brick veneers. Jacek Hyg ro Included in the home are six front corner are all windows. A |cl0sets, dining space, a double black glass ornamental fireplace is surrounded by V-mitered mirror. 16-Foot Storage Wall Paralleling the room is a 16-
Darlington Shows Shadeland Manor Homes This Week
Fifteen -homes in the Shade-
Tand Manor addition are being displayed today and throughout the week by Darlington Realty Co. The subdijvision
Hours are 9 a. m. to 8 p. m. today and 3-9 p. m. daily through the week, | All homes are brick veneered models Lumber Faroricators, Inc. materials. They offer about square feet of floor space and sell for $13,500 and up. Down pay- i ments start at $3025. °
Being erected by M-& D Builders, the homes are factory made
three-bedroom built of
cabinets and gas heat. A 1';-car garage with side drive is included | in the males price.
is located in se "ag" yg the 1700 block of Coolidge St. = 3 Y : %
970 *
>
Vy a Nin » -
sink with Formica top, Mengel °
RELAXATION-—Modern furnishings in a spacious living room are offered in the Coffel Apartments.
foot hall, one entire wall of which {the hall are two bedrooms and
and fixtures, including a built-in! lavatory. The master bedroom has a) window corner and wardrobe type| closet. Space saving Modernfold! doors are used on all closets. Off the other end of the hall is_a very. special activities room,
Real Estate—
) Defense Housing Sel 43 Parcels "Is Overhauled For $376,640
attractively paneled with straited:
PAGE 37 Classified ..............39-5
For Florida Apartment
Butler U. Area Parcels Are Included
City Men Going South to Live
There's a bit of Indiana
just outside Hollywood by the Sea, Fla.
Down where the palm trees grow and oranges spill from overloaded branches, a Hoosier real estate transaction {s about to take place. Key point is the Coffel Apartments, a fashionable - tourists trade eye-catcher which looks out over the Atlantic Ocean just 15 miles north of Miami Beach. Purchaser is LeRoy _Carson, 5045 Boulevard Place, president of the Carson Realty Corp. Affillated with him in the firm are his son, Richard, as vice presi dent, and his wife who is secretary, Builder and seller of the yearold property is Virgil L. Coffel, former judge for nine years in Kokomo, Ind. So the -transace tion for the $200,000 resort has nothing but Hoosier angles. And, when the. Carsons take over Sept. 1, there will be a migration- from Indianapolis to the South. Mr. and Mrs. LeRoy Carson plan to live in one unit of the resort while Mr. and Mrs. Richard Carson and their three } sons will make their home in an- : other Carson property there.
Traded Hoosier Property
} . The transaction was closed with a transfer of Indianapolis North Side (Butler University area) property for the 16-unit apartment, . The resort is located on the beach a half mile south of the famous Hollywood Beach Hotel. It consists of 14 de luxe one-bed-room apartments, one two-bed-room apartment and an efficiency unit. Each bedroom unit consists of a 19-by-17 living room with a studio bed and modern furniture, a 15-by-13 ‘hedroom with twin f@ beds, tiled bath and shower and : .& completely equipped kitchen. Every apartment is designed for cross ventilation and for winter weather there are electric and infra-red heating units. The double-decked apartment building has 10-foot porches overlooking a patio and the ocean. i ere are more Hoosiers in< volved. Charles Peters, whose home has been on the Whitestown Rd. out of Zionsville, will be general manager.
Trucking Firm Sold To accept the position, he sold the Turner Trucking Co. of which {he was owner and president. The Forty-five sales were reported firm, which operated 40 units and this week by the Associated North 8d offices in Indianapolis,
North Siders
| Lebanon,
large portion of [blond plywood squares. One en-| their savings — why risk. it? _ Mortgage lenders and bankers
- By DON TEVERBAUGH Y |Side ~ Realtors, Chairman Guy Frankfort and Lafafor twin beds, well ventilated and| Thys in summarizing his ap-itire wall is covered with awning| Times Res! Estate Editor : {Boyd announced. Their total value Yétte, was sold to Grey Bruno for lighted? How about wall space praisal, your professional friend type windows. The room features HOME BUILDERS here for the second time have over- was $578.640. $75,000. in living room for furniture place- has asked himself: “Does thisa black slate table-height fire- subscribed to the defense housin rogram planned by fed-!| Secretary Wayne Whiffing| * Mr. Peters also ‘sold his Packiment? Is the dining space Pro-ihouse provide the ideals of pro- place for indoor grilling. ey g Prog P y listed the sales as follows: |ard and International Harvester
¥ 5 f
Yoeooooooo
won't. Right here is where the professional appraiser fits in. What do you receive in an appraisal? A well qualified appraiser is a professional man with years of rounded out experience in many phases of the real estate field. His opinions are not guesses but results of eaucated, analytical thinking; weighing one point against another; considering reactions of buyers and sellers as a whole and not the likes or dislikes of specific individuals. The ' appraiser realizes the value of a property is “the present worth of all rights of future benefits arising from the ownership of property.” Thus, property itself" becomes the RIGHT to possess, use, and dispose of a thing. Upon arriving at the property for inspection he will: Examine. the neighborhood elosely. What are the advantages? How near are schools, churches, shopping centers, parks or playgrounds and transportation? Is the neighborhood generally built up with similiar quality homes? Are good building and zoning requirements evidenced? .-What percentage are home owners? Renters? While looking for all the favorable factors he will®iso watch for detrimental influences—noise, smoke nuisances, or a lack of the previous mentioned services. All this may appear to take only a few minutes but your appraiser has probably appraised and sold several homes in this community during the past months and years, and he has retained notes and
Mr. Keller
¥
A 1
NORTH SUBURBAN—THis
~~ Giliner by Realtor Curtis Graham. The two-bedroom home is now owned by Louis A.
\portioned to your size family? tection and comfort; security and For your protection he will look stability; beauty and orderliness;
[tor structural defects and weak- and most of all that which makes
nesses, creaky stairs, settlement, a “home” out of .a. physical poor drainage, worn out. roofs structure?” and gutters. Boeckh's Appraisal Manual
states “Desire exists in the mind, and for this reason Value exists not in concrete realities, but in our thoughts.” These thoughts the appraiser
Mistakes Cost Money
He will quickly recognize “Jerry building” and will penalize his evaluation for its failures. Often a house may be overbuilt—money turns into dollars so you may, not wisely spent, His appraisal wisely buy and sell, feeling will protect you from paying for secure in your opinions and bring other’s mistakes. your transaction happily, harAfter careful examination of moniously and intelligently to the neighborhood and the prop- completion.
erty itself, the appraiser then will return to his office and usually go through the following three proc- Insurance esses to substantiate his thinking: . He maintains an up-to-date, ac- Executive Honored curate file on construction costs! John McGurk, resident vice and he will figure today’s replace- president of Mutual of Omaha ment cost of this property, then and companion companies, was make certain deductions for such guest of honor at a surprise party factors as physical wear and tear, held yesterday at the Athletic loss of value from age and. de- Club.
terioration of the neighborhood" The party was staged by the itself. firm employees to observe Mr.
He also will review "sales of McGurk’s 20 years with the comsimilar properties, weighing their pany. He was presented with a good and bad points against the bronze paperweight, designed in house he is appraising. This shows me Shabe of 3 ladder “Twent him accurately what other buyers n it was inscribed, “Twenty
; v b ii to years of helping men to help ane Seley. hate Dean Wine themselves climb the ladder of
: success.” All these various elements and | His wife was presented with an many more are considered by... ined silver compact. banks, life insurance companies)
h Attending the party were many and mortgage lenders when re-|, i.p1a¢ including Mayor Clark viewing a property as collateral
for a loan. and John Barney, ety coptrofler.
These institutions always obtain services of one or more appraisers before they ever make More than 900,000 separate spea loan grant. For their invest-'cles of insects have been recorded ment many times is as much, if and described.
It's a Buggy World
brick rancho af 8677 Westfield Blvd. was sold recently for John B. i b, research
(hall is the dining room which has
|7% miles to the Circle and nicely
* Club this week
Mr. Honderich’s desk and filing eral agencies for Indianapolis. The FHA reports applications for 1884 units have been
cabinets are in an alcove off the room and may be sealed off by a recorded for the 1125 units allot-| folding door if desired. ed for the area by the Housing)
. Tiled Kitchen nae n and Home Finance Agency: A thitg bedroom. Jesand bet), In all, 16 building contractors
utility room and kitchen are lo- ! > submitted applications for a
cated at tHe other end of the : home, share of the program including
The kitchen has gray clay tile some from out of state, wainscoating to about shoulder But unless the minority allotheight. The tops of all cabinets ment of defense housing is fully are also clay tile (black). In- subscribed to (there are 125 such cluded are a dishwasher, disposal, units), no approval of any units exhaust fan, electric range and may be granted here by the FHA, | refrigerator. Shirley Wilcox, state FHA direcBetween the kitchen ®ind entry tor, warned. The big question is, of course, where to build ’em. The redevelopment areas will eventually offer many sites, but have little avail able now. And suitable building sites in the city are growing more and more scarce,
Parade of Homes
a large picture window.. overlooking the front lawn. An ornamental iron grill separates the room from the hallway. One wall is covered by a Chinese mural. Off the rear of the home is a 14-by-16-foot screen and glassedin porch overlooking a pati6 and
picnic table. Home builders in the nation's The extra large two-car garage larger metropolitan areas, readyhas radio-controlled doors. ing for National Home Week.
Highland Manor offers-another 17 homesites on which Mr. Honderich plans to build, Mr. Adams, subdivision agent, said. Now being completed is a twobedroom home, similar in size and styling to Mr. Honderich's own home, which wiH sell for $40,500. The addition is about
Sept. 14-21, have a new approach for showing their work to the public. They're concentrating on model homes — for display only — and will build the housing: exhibition in one area. The idea, of course, is to make it easier for home buyers to look ‘em all over. In cities the size of |Detroit, Chicago and Minneapolis, it takes too long to travel from one new home to another across town.
Standard Oil Man Is Honored 0 i aes, when 140000
George 8. Van Eman, local as- Visited the show. : sistant manager, Standard 0©ij1 But the plan has its drawbacks, Co. was presented a 30 year For one thing it Is necestaTly service pin by F. McK. Blough, limited to only a few bu fers Je Indianapolis Di- cause of space and expense, 8 a is result, it gives only a partial presVision. Manager entation of the area's homeat. & « Juncheod building industry. cele bration at The year 1953 will be a more fe Columbia competitive market in housing.
wooded.
Mr. Van Eman (became assistant 7 manager here in ‘December, 1939. Prior to his Indianapolis position he was assistant manager Mr. Van Eman of the Grand Rapids field. Mr. Van Eman is a native I'exan. He began his work with Standard Oil in 1922 as a service station attendant in Chicago. After spending time as an at- difterence. too. tendant, auditor, salesman, as wnen a prospective buyer looks supervisor of. service stations im 54 a model home, he knows that Chicago, “he was made superin- it’s just that—a model, But when tendent of all Standard stations he jooks at a home built for sale, there, From this position he was with a price tag on it and a deliv{promoted to assistant [anager ery date. he means business. at Grand Rapids in 1933, “4
and will continue to grow stronger with buyers becoming more and more selective.
Invite Comparisons
The Parade of Homes, as it is usually held in Indianapolis with as many as'800 different homes and 40 or 50 builders participating will invite buyer comparisons. They'll he able to compare not just a few in each pride bracket but aH, in all brackets. And there's a big psychological
2
ps . Le . ,
!The.shopping has already started
about 800 homes displayed In various stages of construction
not just the finished product. Buy-
ers could look and see what was on the inside — were urged +o.
The Indianapolis show was the biggest in the nation. It concentrated on houses, not house fur: nishings, which you can see any day-in any department store. It'll probably be that way again this year. And The Times. prize-winning special Parade of Homes section published last year was the largest displayed at the National Association of Home Builders annual convention in Chicago last January. It'll be just as big again this year,
Sign It Please
Things got so had at the public nouging projects in England that government officials had. to step in. § Workmen were doing such sloppy painting that officials ruled the contractors would have to put their company signs in front of the houses they painted and
‘leave them there for two full years,
If the paint job doesn’t last, neither will their reputation.
Garage Floor Cleaned
If you like to have your garage floor and concrete drive free from oil. and grease stains, keep a little dry cement handy in the garage. A handful tossed on a stain will draw it out of the con-
crete, *
720 E. 81st St. for builder A year ago Indianapolis had, Landers, The home includ
ymond Sayles. New owner is Indiana Bell Tel a mahogany paneled den and two baths.
Margaret Evans Co,—5801 N.|Boone County dealerships. Illinois, co-operating broker ¥. M.| While the Carsons and Mr. Knight Co.; 6014 Norwaldo Ave, | Peters will specialize in the resort Gregory & Appel, Inc.—Lots 13/Pusiness, they also are considerand 14 Warman Heights, 5849 N. ing several other enterprises as Oxford St. co-operating broker they make their new homes in F. C. Tucker Co.; 1162 Kentucky Florida. Ave., 1546-48 E. 10th St. Mr. LeRoy Carson created the Fay Cash- 500 Feet of property Carson Realty Corp, in 1944 with on W. Kessler Blvd, a Sil Jndiatapolis property. He behe ‘ ne _,came interested in Florida holdabe Whiting os Ci ings in 1950 and since then has 365 Brazil Ave. a Greenwood | Aimed at moving there principally
z because of health residence, 2302 Magnolia Place, " y 2908 W. 58th St. g g Earlier, he had been associated
with Bishop, Knowlton & Carson Butterworth & Co.—Lots 41 registered Dre and engi and 11 Westfield Heights, neers, and had been vice presiHarry L. Robbins—A lot at! dent of the Midwestern Petroleum 9200 Kerwood Rd. Corp. F. M. Knight Realty Co.--2705 - N. Gale 8t., five lots in the Northridge Addition. Meek Ag Hugh Teeters Co. 7995 Evanston Rd., co-operating broker The Spann Co.; 5821 N..Oxford St. Jack C€. Carr, Inc. -3161 Col-
ency Sells $124,550 In Property
The J. Perry Meek Real Estate Sales Co., now in {ts second year, lege Ave., 3429 Guilford Ave. co- had its biggest month in history operating broker Bruce Savage during July, reporting seven resiCo.: 1212 N. Emerson Ave. 503. dential sales worth a total of .Brouse 8t., U. 8. 52 and 8Rth $124,550. St., 14-16 N. DeQuincy 8t., 506 The sales include: 2214-18 N. N. Rilev Ave. . Meridian St., 2927 N. Warman J & L Realty. Inc.—3102. 3106 Ave. 3112 Sharon Ave., 4825 E. 3110 and 3114 Priscilla Ave. 41h St. 5417 N. DeQuincy Si, F. .C. Tucker Co. — 3815 RF. pahy Xe Qxian St. and 1031 ClinWashington St. 4318 Deanville, "sisting Sr ‘Meek “in this business: ts his associate BE. J,
Haynes Realty Service—Lot 9 packett.
Keystone Addition. Hall-Hottel Co.--5826 N. New Jersey 8t., co-operating broker Ford Woods Co., 225 Lincoln -8t. in Greenfield, 6309, 6211, 6223 Parker Ave, Gerdenich Co.—2150 E. 34th St. The Spann Co., Inc.—4815 Guil-
Immediate Delivery One enterprising washing ma. chine retailer has found over twice as many washers are sold on Monday as any other day, ace cording to Electrical Merchandisford Ave, co-operating broker*fng publication. August ‘is the Walt Veon Co.; 2502 Guilford pest month for sales, and a good
Ave, 824 FE. 25th St, 1938 Col- Saturday usually indicates a good lege Ave. 1933-35 Houston St. Monday will follow.
phone Co. engineer Dever