Indianapolis Times, Indianapolis, Marion County, 30 August 1952 — Page 43

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MEDIATE IVERY and | TALLATION | i IYWHERE INDIANA

LESS TANG

liremant! JRE NCES

1Browns

g getion Four Real Estate

_ The Indianapolis Times

J | Real Estate ........29-30-31-40

SUNDAY, AUGUST 31, 1952

/ Busiress .............29-30-3} } f Small Home Plan Yevavnv eval PAGE 29 Classified trncsvesveeereIiedl

Ap—

Good News—

By DON TEVERBAUGH | Times Real Estate Editor

A WEALTH OF INFORMATION for realtors and home builders has been compiled in Part II of the Federal Reserve Board's 1952 Survey of Consumer Spending. Most of it falls in the “good news” classification.

The survey, for example, shows lust as many consumers plan t0 {sree bedrooms. Space is imporbuy a home this year, as last—|igant to him. : roughly about 4 per cent of the| pRecause he's younger, he needs nation's non-farm families. | financing. He hasn't had time to| Even more optimistic are the pyujld up equity. On the basis of! home buying plans for 1953— hig earning capacity he can af-| about 8 per cent of the non-farm| ¢4rq payments on a home consid-| tamilies expect to shop for a'araply more expensive than his

gpouse then. a available cash will permit him to | The survey also indicated, buy. | Federal Reserve economists ,,4 {hig adds up to his pur-

pointed out, that 1952 home .,,in0 a second, larger, more

puyers are much more certain of | on 5ive home within a few

They're ‘either buy-| voor on the equity he builds in|

his first home. About four in every 10 of the

their plans. ng, or they aren't. But that makes them a tougher sustomer. Buyers who know pxactly what they want are always harder to please. Sales echniques will need dusting off. |

Generally, however, 1952 COn-| ynqatisfactory for any number sumers expected to pay more for| ,¢ regqons. This buyer is interest‘heir new . house—about $800 oq put not the desperate, “I'll! more htan the 1950 price. The ,.,u anything” buyer of the im-| median expected price was $9800, | ediate posawar era. the: survey showed. | He's choosy and shopping]

around for the best for his non-| Whe Plans to Buy ley. And this attitude is going to|

Here's your big market for this separate the men from the boys year and next, according to the among real estate salesmen and | Tederal Reserve. home builders. 2 i About six of every 10 _— als planned ad well-cons live buyers are families with SiTucte omes Py a on shildren‘ and are headed by wage ably will enjoy a healthy activ

ity in the market. Those overarners under 45 years of age. | no; “hoorly maintained and

Seventy per cent of the fam-|,,,.qiraple because of poor delies who intend to buy a house o, 514 neaded for the bumps. ‘his year had a 1951 income of| “nyo time has at last arrived

| | |

Their present homes are too

[1952 and ’53 perspective home| | buyers are already in this boat. a

small, not luxurious enough, or|?

RE tae

MURPHY MEADOWS—Twenty-seven new three-bedroom homes with Gl financing are featured

OPEN TODAY—Furnished by L. S. Ayres & Co., this new home at 440 Douglas Drive will be open today and tomorrow between 10 a. m. and 7 p. m.

nad sat aS

Gl Homes

4% Loans Available For Veteran Buyers

Here's a real surprise for home buyers with a shopping eye peeled for a three-bedroom home in the surburbs. Murphy Meadows, a new housing development of 120

homes located in the residential town of Brownsburg, offers 29 new homes—and you can buy them on 4 per cent GI 20-year 2nd monthly payments will be mortgages if you qualify for the about $60. loan. | The Murphy Meadows addition,

; ; . located a half block north of the Mi 8 big news now adays. The crawfordsville Rd. (U. 8. 136) on i ome loan is almost as ex-/q..nt gt jg developed by Don-

tinct as the Dodo bird . al ey yr! The five-room, three-bedroom sa og rm puno will also handle

homes, designed by noted Archi- Th tect Richard B. Pollman, range in|, H oTen,e Je of B price from $10,750 to $11,600. |burg. Because most of a For GIs the homes will go for a terials are precut it takes only down payment of $900, plus soa.) tbout 28 days to erect a home, ing costs. This figure includes the ™ su, first year's insurance premium. Cedar Shake Construction Monthly payments will be about! Of cedar shake constru $67 including taxes and insurance. the houses offer 912 Sh For buyers with FHA insured feet of floor space and the floor loans the down payment is $2500 plan includes a kitchen, utility room, living-dining room, bath and the three bedrooms. There are hardwood floors throughout, except in the kitchen and utility room where asphalt tile is used. The kitchen is fully cabineted by Youngstown. There are no basements. An automatic oil heating plant is located in the utility room. Open for public inspection to-

being built by

PLANNED DESIGN—More space is offered by this architect

day is a typical Murphy Mead ) ) radow home at 440 Douglas Drive. It

Is completely furnished b L. 8.. Ayres Co. y oe

Interior decorations done to buyers’ Gray said. The homes have five clo three are the wardrobe Ieneitm hatin walls are of plastic tile nd finis . A ta is used on all other Front and rear yard 8 are seeded and a crushed stone side

will be selections, Mr,

than 900 square feet of floor | design home.

Local Builders

14000 or more, although they, asi, oF ts of an important term v group, constitute only 40 Per the oR ioirel property. Thire ent of all non-farm families.

suyers already own a home.

The '51 Picture

Last year 2.4 million U. S tamilles bought a non - farm ome for occupancy. About 100,000 of these purchases were yf newly bullt houses. The median more than the -950 price. The price was $8500. The average, $9300. About the same as in '50.

But financing was considerably P y

changed in 1951 when 89 per cent| , 0a] open house to celesf all home sales hinged On 2,,.,¢y the completion of remodelmortgage. And the amount bOr-i;h 0 544 expansion work on the rowed has continued to increase gioy,,t's.Gausepohl’'s shop at 44 annually since 1948. |E.- Washington St. will be held About four in 10 home PUr-imp,;q4ay C. S. Ober, firm presichasers in 1951 borrowed 80 Per 4.4 announced. cent or more of the price. TWo in "gi, hours for the open house 10 borrowed between 60 and 80 .. pation will be 9 a. m. to 8:30

Ge? cont. ._|p. m., Manager T. D. McConnell By early 1952, home ownership!

,. » announced. : was about 54 per cent. That's a| no, 1h4ianapolis women will

jump of 6 per cent since ‘45, 1¢ receive checks ds winners in an wite continued population In- pp iversary limerick contest. Mrs. ‘reases. Leo R. Henry, 6121 Compton St.,

* will. receive $500 for first prize Age and Ownership and Mrs. Ray George, 1646 N.

s an important role in| Somerset Ave., $50 for second. re DT g' survey Patricia Stevens models will showed. act as escorts and guides for

It goes up, percentagewise, with |tours through the store’s three

, : ® About four of every 10 would-be gh Jobeen aay or the | Sto ne Ra NC by 0 D IS P layed fx

New Stewart's: Gausepohl's

a kc)

man Ave., Beech Grove, is open to the public today from 3 to 6

OPEN TODAY—This attractive 1200 square foot Bedford stone ra :30 p. m. The home, offered by Simpson & Co., realtors, features a 20-foot living room, large kitchen with serving bar and breakfast nook, thermopane picture windows and two large bedrooms. The price is $17,500.

Will Attend Seattle Meeting

Representing the Marion Coun-| ty Residential Builders, John E.| Bauer, Albert E. Thompson and A. H. M. Graves will attend the Seattle conference of the National Association of Home Builders Sept. 4-10, “Many vital will greatly affect industry's activity In the coming months are expected to be made at the meeting,” Mr, Bauer, president of the local builders, commented. Lifting of controls on building, materials and credit; the NAHB's “New Face For America” program of slum clearance, other top housing problems for home builders and buyers are scheduled for seminar and panel discussions. 2 Both the annual NAHB Regional Conference and the board of directors meeting will also be held at the Seattle session.

Realtors Sponsor

detisions which]

ncho at 10th St. and Church.

drive 1s included in the sales

Tr “| price. ’ The addition has com plete sewNorth Side strc Paved sidewalks, asphait streets with curbs and electrio/ utilities. At present there is ng Sales for Week municipal gas service available, 8 expected by Nov Mr. Gray reports, eve, Are $845,120 eet Toad. Conveniently located the n ! housing addition has popped pu A total of 58 sales worth $845.-/ fio) °° % Hendrick's County clover 120 were reported this week by, sy) ® just 215 blocks from the Associated North Side Real-lg, A shopping. center, tors, chairman Guy Boyd an-|,. 8 churches and transpornounced. tonto Indianapolis. . The sales: Whi Say Is now planning anHarry L. Robbins Realty Co.—|°. ¢% Cr ownsburg housing devel« Lot at 8300 N. Meridian St. SPmnen of about 170 homes as Edgar E. Brodbeck Co.—4701| x nadition is being completed. Rockwood Ave. gp Wine, \a80 when The Times i N of American Estates Co.—807 For-|phy Meadows: on ot ue

and est Blvd, North Drive, co-operat-|its Sunday Real Estate Section

|ing broker Edgar Brodbeck.

| Haynes Realty Service—1301 E. 46th Bt. said.

Gregory & Appel, Inc.—342 8. The subdivision is only about Biltmore Ave. 5390 W. Bertha|l5 miles from the Circle—about St., 5400 W. Bertha St. 40 minutes by bus. It is also quite Norman L. Hammer—3561 §|COnVenient to West Side indus-

Central Court, 3107 N. Capitol trial sites, including the main - Ave. | Allison plant.

F. C. Tucker Co.—311 N. Ridgeview Dr., 3731 N. Wallace St. Walt Veon Co.—5025 Central Ave., 6510 Keystone Ave. 5805 Oxford 8t., co-operating broker

Joins City Firm Hugh Teeters Co.; 7550 Spring

more than 4000 persons turned out for the open house, Mr! Gray

Francis Stockton

Eight Classes

age. About 66 per cent of all fami-| floors. ei headed by adults 55 years old| The store has made some big

Richard Graver

Mill Rd., 5856 Central Ave. 2618| Ihe appointment of Francis M. N. New Jersey St. co-operating Stockton as comptroller has been broker F. M. Knight Co.; 291¢/2nnounced by Pitman-Moore Co.,

ywn their own home, while among | those families headed by persons under 25 years it is only 20 per vent. And this group includes a large, proportion of veterans who were able to purchase their homes on| very favorable terms. | By early 1952, 49 per cent of]

veteran families owned their] aouses. In 1950 it was only 42 per cent,

Kids Important, Too

Youngsters make for home ownsrship, too. The survey showed more than

half of the families (with chil- have adopted the National plumb- held during Nadren) headed’ by persons of lessiing code outright or with minoritional

than 45 years owned homes. For

only 33 per cent. |

Mr. Home Buyer, 1953

These varied factors, when assembled, present a pretty sharp) picture of today’s and tomorrow's

changes. Gausepohl’'s luggage shop has been moved from the Circle location to the store’s second floor. The book department will also be found on this floor as are the offices. The Gourmet Shop has been added downstairs. This unique new department will feature spices, herbs, woodenware, gadgets of all types for epicures. Another new department—the Party and Gift Studio—will be | found downstairs, featuring gifts and party ideas for all occasions.

National Plumbing Code

Latest reports show 41 cities

On Business

| Ave. 3526 E. Michigan| Indianapolis drug firm.

23 Builders Join '’52 Parade of Homes |

Twenty-three local home build-/Parade of Homes will be the spe-

Guilford ISt., 3530 E. Michigan St, 6467 Mr. Stockton, a native of Still1236 N. Riley Ave, Water, Okla, is a graduate of co-operating Oklahoma A. and

Joins Capehart

Times State Service

The Indianapolis Real Estate Michigan Rd. : : |Board this fall will again sponsor 4715 Kingsley Dr, F T. WA YNE, Aug. 20 — Altheir annual educational classes, broker Haynes Realty Service. M: School of new vice president and general B. W. Duck Jr., chairman of the| Butterworth & Co. -- 1812 EF. Commerce with manager of the Capehart-Farns-'equcation committee, announced 65th St. 6455 Maple Drive, co- 2 B. 8. degree.

' : worth Corp. was hi t broker Wal Cn:He has had ers, with more than 150 houses cial displays and exhibits by this week. operating broker Walt Veon Co.; to displ in the Parade of Puilders and material firms in announced _ to- | The course lot ‘10 Westfield Heights, 3630 N. broad experience ‘to display in the Parade o +. 8. Ayres Department|day by Fred D. starts Sept. 29 LaSalle 8t.,, 3709 and 3722 Audu-/In accounting

Wilson, president of the electrical manufac-

bon St. land control opWillis Adams—9150 Kerrwood erations, Drive, | For eight

Homes, have already registeredigiore. Every builder participat-| for the fifth annual Indianapolis ing in the housing show will have fall housing display, Tom Mutz 3 photograph of one or more of co = chairman of

and includes eight sessions, ending Nov. 24.

|the show announced today. | The Parade of Homes, to be

ling the week, exhibited in the] (auditorium.

| Not all homes displayed during

the houses he is displaying dur- turing firm.

(hart officer is {Richard A. Gra-

ver, former vice the week-long show will be com-| resident in

The new Cape-

{Meetings will be {held every Monday from 6:15 to 8 p. m, at the {Riddick Auditorium, 1440 N.

| Robert BE. Walker—55 W. 65th |8t. | Hugh Teeters Co.—2308 N. Dellaware St, | Jack C. Carr, Inc. M. G. Gerdenich Co.—A trade,

co-operating broker| Allen and Ham-

{years he was an (associate in the (firm of Booz,

Mr. Stockton

{{1ton, management consultants, of Chicago spe-

Home pleted, but- most will. Those un-| charge of the Meridian St. 7200 Lakeside Drive for 2244 W. revisions. Colorado, Louisiana,| Week Sept. 14- |finished will afford splendid op-| electronics daivi- Mr. Graver “The sessions 65th St. [Fallangiin Soatiela 310 many ‘he families in the same age New York, Florida and Puerto 21, is sponsored Iportunities for shoppers to study| sion of the Ad- are free to ac- wr Duck Ford Woods Co. — 222-4 N.| previously » is an. sracket ' without children it was Rico have incorporated the code here by the Ma the quality of materials used in'miral Corp..of Chicago. tive, junfor and iL Gray St. = Pre sly, Mr. Stockton was in their regulations. Some 48 rion County Res- construction. His business career includes associate members of the Real J & L Realty, Ine.—3201, 3205 associated with several Houston {other cities are revising outdated jjential Builders. It'll be easy to spot the Parade Wide experience in both retail and Estate Board and compulsory for 3213, 3225 and 3229' Priscilla companies supervising accounting building codes, using the National Carl F. Spickel- of Homes open houses—just look Wholesale operations with® Ad- junior members,” Mr. Duck said. Ave. 606 8. Spencer Ave, 617 and control functions and install|Plumbing Code as a model and mier, with. Mr. ar Mutz for the giant colored helium-| miral and earlier with RCA, Mr. The latter members must attend and 625 8. Grand Ave, ing cost systems. For eight years | "ulde. Mutz, will direct =~ filled balloons floating overhead, Wilson announced. at least 75 per cent of the ses-| Gil Carter (0.—7019 Ralston [0llOWINg graduation he was . the activity. : |They should be a big help to! a |sions to qualify for active status Ave. 5740 Hillside Ave, 6461 supervising senior accountant More Copper, Aluminum The display goal of the Indian- house hunters cruising through Final Realty Golf {on the board. Broadway, 6198 Ralston Ave, With the Arthur Anderson Co,

home buyer—at least on the basis

of demand. He's a younger man—half of

with children.

An increase in supply and re-|apolis builders will be 500 homes unfamiliar

neighborhoods, said

vision of estimated demands has this year, Mr. Spickelmire said. Mr. Mutz.

|resulted in the release of inthe entire GI market is untouched. creased amounts of copper and And Mr. Buyer is a family man aluminum by the National Pro|duction Authority for single fam- ness during the event. _ _He needs room. That means’

ily housing.

In addition, he said, a number| The following home

|to hold open their places of busi-/of Homes:

Albert Thompson, | A new feature of the 1952 construction, The Hruce-Zeager

Open

RATE SL

Today

Corp., Dawson Construction Co. A. H M. Graves, Inc, F. lL. Palmer & Son, (Homes, Inc., Grinslade Construc-

tien Co., Stanley Realty & De-

builders lof business firms have decided have registered for the Parade!

than 2 p. m,

Meet Due Sept. 11

Here's the last crack at the/tend for a fee of $10." Other non-| prizes in the Real Estate Board's members must pay a fee of $25. Meridian summer golf tourney series. The final Sept. Country Club.

competition will. be

held by board president, 11 at the Indianapolis Hurt, Mr. Duck presiding.

Employees of realtors or asso- lot 36 College Way. ciate members, not themselves members of the board, may at- St. on Washington Blvd.

The first class will be welcomed ;St., 2819 Hillside Ave.

James W.|

will Real

lecture on 6219 Raleigh Drive, W. 79th St., Estate 4237 Cornelius Ave.

Fay Cash—Lot north of 82d

Bruce Savage Co.—6200 Spring Mill Rd., co-operating broker Earl Teckmeyer, secretary- Ethel Bromert; 8100 Allisonville If you care to, you may tee off treasurer of Schmid & Smith Co., Rd. 1141 Castle Row, co-operat-| Indianapolis |, ."c.t1v as 11 a. m., but no later and one of the nation’s foremost ing broker Charles C. Binkley; Realtors Bowling League for the Chairman Leon realty speakers,

public accountants. Mr. Stockton, who is married and has two daughters, is a mem-

F. M. Knight Realty Co.—2959 ber of the Alpha Kappa Psi comIndianapolis Ave. 2345-47 Hovey merce fraternity, and Pi Kappa

| Alpha, social fraternity.

Bowling Officers

Officers elected recently by the

1952-53 season are: William H.

’ velopment Co., Murphy Construc- Sullivan’ announced. tion Co., W. L. Bridges & Son. | | Good Homes, Inc., Cantwell & Times. Kuhn, J & L Realty, Inc, Harry Dillehay & Son, Wilbur Washburn, H. A. Lindeman Jr,, Sheehan Construction Co., Pike Realty [{Co., F. M, Knight Realty, Fred-| |erick Falender, - John Belcher,

Bloodstain Sera

Now Available By Selence Services

MADISON, Wis.—If you want} to know whether blood in a blood

“Establishing a

| Seven special trophies will be Office” and ‘Promoting and Sellawarded, including one from The ing Your Business.”

_— ve

Pry 74 adh bi Sh vy ¥ os

" Iv.

Rock Addition, one block east today and throughout the week.

GREEN ROCK ADDITION—Here's a #ypical Chapman-Streets home located in their Green of Emerson Ave, on U. S, 421 (Shelbyville Road). Model homes ranging in price from $16,000 to $20,000 and in twe- and three-bedroom models are open to the public

| Frederick Realty & Construotion Co

1200 Localities Keep Rent Control

Philadelphia, Pittsburgh, Boston, Jersey City and Newark, N. J.,. are among 200 localities

which have voted to continue rent control past Sept. 30, rent stabili{zation officials said this week. They sald “20 million resi|dents in 200 normal defense rental areas are affected by Congress’ action last June ending

vote its continuance. vw :

jor 2% | Alumni Research Foundation can

the program in areas after Sept.| eventually it can be freeze-dried 30 unless local governing bodies| and sent thro ughout the world

stain came from a dog, deer, man ¢ beefstake, the Wisconsin 7

supply the specific immune serum for {dentification. The foundation laboratories are also making identification tests employing the serum. o~ Material is now available for tests for horse, beef, human, sheep, pork, dog, cat and deer ” serum and the stock will be expanded as others are prepared on request, | The material is now .shipped {with ‘dry ice but it is hoped!

VI an

without difficulty.

Kirk, Mr. Kirk is associated with »

0 + ®

EAST SIDE—Mrs. Catherine Isler of the |. E. Holland Realty Co., sold this home at 8731 21st St. for builder William G. Koenig, The six-room ranche is now ewned by Mr. and Mrs,

Faust Jr. -president; Lafe GasaCo.—6401 way, vice president, and Frank S. Wood Jr., secretary-treasurer.

A. HL M. Graves Dean Rd.

the Prudential Life Insurance Ce,