Indianapolis Times, Indianapolis, Marion County, 14 September 1952 — Page 39

. 14, 1952

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SUNDAY, SEPTEMBER 14, 1952

PAGE 39 Classified .......oessane81-85

Real Estate— i

} When Are You || “In the Parade?

By DON TEVERBAUGH Times Real Estate Editor

HERE IT IS—Parade of Homes time again and you're probably wondering “Where do I fit into the picture as a home buyer?” With the cost of living at an all-time high, where am I going to get the do-re-mi to buy] a new home? That's a tough question,

That's about 60 per cent of the 1 nation’s families. Ten years ago the home ownership ratio was

admit. But a million people found the| [eversed—&0 per cent of the fam|ilies rented a home.

answer last year and, from the But those 10 years have been things m looks of ngs, another million a big 10 years on the housing

will find the answer in 1952. Most of the people who 32. el ront More than 7 million homes

homes last year, believe it or not, were not high priced busiSeige iy with fancy five| no wonder home ownership is id _|popular. Monthly payments on a Fe I eral Hoe ow home are Frequently Joss than $ i those on a new car—an ey in-| of pi Homebuying families inf.,4e taxes, insurance and inter-| ad an annual income of|.qt on the loan.

less than $5000. | But don’t get the idea that alll

Whiffing Fi Don’t get the idea that home ,meg are under heavy mort- | : ownership is something for the og ges, That isn't true, either.

- rich man's family—nothing™ According to the U. S. Census| Anniversa could be further from the truth.|sjoy res 57 per cent of all AmeriTwenty per cent of all thelcan homes are free and clear of| homes sold last year were sold mortgages and debt. That's a This will be a pretty special

to families with annual incomes pretty healthful condition. {week end for Realtor Wayne between $3500 and $4000. Another| wyen under rent control, it is Whiffing.

Cheaper Than Rent |

and apartments have been built. bedroom luxury houses will be on display during the Parade of Blvd., the homes ar

f Homes’ Starts Today

COUNTRY CLUB HOMES—This addition of two and three- Homes this week. Built by F. L. Palmer at W. 57th St. and Kessler e near Highland and Broadmoor Country Clubs.

Fifth Annual Event Shows 15 Million ~~ Worth of Housing

Indianapolis is known across the nation as “a city of homes” and you'll see hundreds of reasons why this week as the fifth annual Parade of Homes opens here today for

an eight day stand. About $15 million dollars worth of housing will be displayed throughout next Sunday by about 50 local home builders as part of the National Home Week celebration. As in‘Indianapolis, home build- § ers in most of the larger cities of the nation. will be showing their new homes to a house hungry public in a huge coast to coast “open house.”

Tops in the Nation

Last year Indianapolis displayed more homes than any other city in the nation and the ! show Is just as big this year, £ promises Carl Spickelmier, chairman of the Parade of Homes Committee of the sponsoring Marjon County Residential Builders.

The tremendous upsurge of home ownership since the end of World War II is likewise a tremendous tribute to the talent and

Mr. Bauer knowhow of the home building/most popular home—the rancho.

industry. This year’s huge housing show Today 20 million families own|is actually much more. More and homes of their own—that’s about| more builders this year have fur-

16 per cent of the sales were to pretty hard to rent a home at a an even lower income group— figure less than the monthly paythat between $3000 and $3500. |ments on the average new house, Those families in the blue chips 1¢ you've tried to rent an apart—earning $10,000 or more annual-/ment within the last year, you ly—bought only 1.7 per cent of know what I'm talking about.

the homes in 1951. . Mr. A B Easier Downpayments? rf. Average buyer | Government economists are Here's the typical 1951 home making noises again like they're buyers. ready to quit squatting on the He's a young man—about 17 housing down-payment egg. ears ahead of his father in buy-| It's a pretty big egg. And ng a new home, mostly because|they’ve laid it. of more favorable mortgage mar-| But it hasn't hatched. kets. If Regulation X should be reHis new home cost about $9000 laxed or suspended within a few

| Thursday he was awarded the {President's Cup in the annual] Real Estate Board Golf Tournamentsand tomorrow will be second anniversary as head of hisownrealty firm. Starting with two sales men,| W ally Whitfing| and J. C. “Buck” | Ewing, Mr. Whiffing now has a staff of six. Other m e m bers

Mr. Whiffing

Justus Construction Co. sell be-

60 per cent of the nation’s famil-| fes. And here in Indianapolis] home ownership is running about

70 per cent, according to experts in ‘the housing field. {

This week is the builder's big) chance to put the spotlight of | public approval on his efforts and | he's out to prove the quality and| skill of his work. Don’t plan on seeing it all today—you won't make it. There are too many homes open for as play. The Parade of Homes in In-| dianapolis is no “one night) stand.” @ | It'll take you at least a week!

nished their homes to give prospective buyers a better idea of what the house will look like functioning as a home. Inside will be all the latest appliances from garbage disposal units to electric dishwashers. And the furniture and furnishings will be in the latest styles. '

Special Contest

But don't forget the contest this year—it's new. More than $3000 worth of prizes are offered, including — as first prize — $1000 toward the down payment on any home displayed in the week-long show.

—that’s roughly 10 per cent more days, as reports from Washing-| include Dan] than the average priced home initon say, it may or may not mean | Green, Paul Dively and Bob Whif-| 1950, But it is a bigger home and|lowéer down payments on new fing. has five rooms instead of four. | housing. So far this vear the firm, operHe has a mortgage on his; With the mortgage money mar-| ating from offices in the Inland home, insured by the FHA for ket as tight as it is, there is little| Building, has pushed their dollar

JUSTUS BUILT—These homes in the 16th St. addition of the

tween $18,500 and $22,500. The firm will have five open during the week in the 1200 block N. Haw- | thorne Lane.

- WN La 8

to .see ’em all, even if you only| To qualify, home shoppers must look at those in your particular {write a letter of 50 words or less price bracket. fon “Why I Like The Parade Of % And while you're looking notice Homes” and mail to the Marion the changes—there’'ll he a lot of County Residential Builders, 138 ‘em. If you're observant, you'll be N. Delaware St.

$7586—about 86 per cent of the!chance of easier down payments| volume to five times what it was . |

value. The home loan is spreadjon lower priced homes. Right out over 23 years. mow mortgage lenders can call His annual income totals $4225 their shots—and they will, and he spends about 22 per cent]

of it on his house. : , . {price range, and perhaps a little Model Landlord ~ +more in the luxury home bracket I talked to a young chap the where it takes pretty close to 50 other day who told me he had/per cent of the total cost to buy. the most wonderful landlord in| But the little guy buying a the world. . (home for $12,000 or less will This landlord worshiped thegtij] have to plunk down at least

young man’s wife, played every-i1g or 15 per cent in cold cash. day with his children, romped # per Sen. in foi &

with his dog and immediately] fixed all leaky faucets, clogged] South Gets More drains and stuck windows. Lightning strikes oftener in the You see, this young man had South than in the North, Elecjust bought his own home. He trical World publication, reports, was his own landlord. {It strikes an average of .43 times And there are about 20 million a square mile per thunderstorm families in this nation who are|/day in the southern U. 8, but their own landlords. Twenty mil-|averages only .28 times in the lion Americans can't be wrong. North.

of down payments in the medium

la year ago. { FR | Mr. Whiffing, besides being sec-| . % - |retary of the Associated North)

There should be some easing|/Side Realtors, appraises for four _ 2%

{local lending institutions and last |year taught real estate school for| = {the Lain Business College. He is chairman of the “Real | : Estate Board's secretary seminar this year, and is an active mem-! ber in the Chamber of Commerce. | Mr. Whiffing also is building | two Pollman prefab houses in| |Hiawatha Gardens subdivision. | or ——p—————

Manhours Cut

Winners Are Announced In Board's Golf Tourney

The score cards have all been & tallied and the golf bags discarded in the corner as the Indianapolis Real Estate Board completed its final summer golf tournament this week. Wayne Whiffing won the board championship and the President’s Cup. He had to stop 96 other realtors and associate members to do it. He also won the Union Federal trophy. John A. Wallace of the Fred C. Tucker Realty firm, won The Times trophy. Other winners included Tom Black, Associates trophy; Lafe Gasaway, Pulliam; award; Charles Murtaugh, John C. Ryan trophy, and Dave Woods, the Jack C. Carr trophy for the most improved golfer. ¢ Wins Golf Cart

J. 0. Mogg won the golf cart with first blind par. Eight past winners of the

board's: President's Cup were JOHN WALLACE—Winner. awarded certificates commemo-

rating the event. They included|John A. Wallace—1950 and Fred

F. C. Tucker—1933, H. L. Rich-| Tucker Jr.—1951. ardt—1934-5, Edward A. Hyde —

1046, Hugh Bremmerman—1949,|39-41 and Paul E, Carr—1947.

“ICrittenden: Ave,

Not present to receive their!St, 1037-44-45-48, William Kingdom certificates were George W. Cline| ' W. L. Bridges & Son—3404 KE. 116th St. and College Ave, ~—1943, L. Lawrence Sexton—|—1931, Henry L. Simons—1938- Kessler Blvd.

North Side Realtors’ Sales Over $1 Million

Strong indication of the recent Hawthorne Lane, 42-44 N. Beville! {upsurge in home buying since the Ave, 3113 Dexter St., 1327 W. 32d {Labor Day week end is shown this St., 1346 N. Schleicher Rd., 1936 week by the sales report of the N. Colorado St., 1515 Roache St., {Associated North Side Realtors, 2306 N. Delaware St., 2034 N. Win-| Chairman Guy Boyd announced. ton Ave., 1526 Roache St., 3708 N. Seventy-four properties with a Olney St.,, 2456 N. Kenyon St., lot total value of $1,017,125 were re- 26 Holiday Hills, 2848 N. Arling-| {ported on the sales list, Secretary ton Ave. 1119 Hoefgen St. 3318] {Wayne Whiffing disclosed. [Houston St. | This was the second largest] BUTTERWORTH & C0.—5921 {week of sales the group has re- Olney St. ported for the year and the great-| HALL-HOTTEL CO. — 8 lots| |esk since last February when $1.13 Woodlawn Golf Club Addition. | {million worth were recorded. M. G. GERDENICH — Lot 13 The sales: |Gerdenich Pike, Feiber & Reilly—912-14 E, 22d! FORD WOODS & C0.—4401 St., 7499 Pennsylvania St, 6272 Park Ave., 813-15 Villa Ave, [Central Ave., 2020-22 N. Alabama; THE SPANN CO. INC.—1236/ St., 4729 Broadway. {Eugene St. (sold twice). i Marry ‘L. Robbins Realty Co. , JOE BERGER--6134 Norwaldo

Lot 7600 Washington Blvd. three AVe~ 8618 Manderly Ave, 5425

Rosslyn Ave. | {lots at 8400 Cent . ws y i | entral Ave BRUCE SAVAGE CO.— 1933

Haynes Realty Service — 5163 parker Ave., 8. Franklin Rd., 4270! 5149 Caroline Kessler N. Drive, 1631 E, 77th St., |Ave. 2833 Questend, S. Drive, 1350 W,| | Margaret Evans Co.— 1503 E. 56th St, 3146 Washington Blvd, [524 St., 3820 E. 62d St., 4817/5625 N. Pennsylvania St, eo-| |Graceland Ave. 4628 Caroline operating broker F, C. Tucker| Ave., 5420 N. Park Drive. Co.; 6221 E. 42d St. 5523 College | | Robert E. Walker—6030 E. 24th Ave. | | WALT VEON CO.—3 Acres at| 4422 | | Kingsley Drive, 3321 Ralston Ave., | N./25086 W. 58th St., 1939 Northwood | — drive, co-operating broker Hugh!

| Jack C. Carr, Inc. — 3906

sold recently for L. E

NORTH SIDE—This atiractive four-bedroom brick center hall Colonial home at 5914 Washing: was Winkler and wife by M. C.- McKinsey of Jack C. om Inc. The

Teeters Co. WILLIS ADAMS—-5309 Graceland’ Ave. | 4 & LL REALTY, INC.—3202,

(3208, 3210, 3212, 3214, 3218, 3224, | 3228, . 3232 Priscilla Ave, 3154] {Ethel ‘St., 3326 Wallace St. | R. E. PECKHAM 2501 College | Ave. | KNIGHT REALTY CO.—4546 Ralston Drive. ’ UPTOWN REALTY C0.—90911 Fairfield Ave.

Mortgage Bankers

Association Grows Membership in the Mortgage

reached 1843 on Aug. 31, end of {the fiscal year, {highest in the Association's 39 year history, Aubrey M. Costa, president, announced. New mem{bers admitted during the year = |totaled 214. Membership® in this only national organization devoted to

interests consists of leading life insurance companies, {banking firms, commercial and |mutual savings banks, title and trust companies and other lend-

, .iing Institutions, 3 3

Bankers Association of America|

and was the!

[mortgage ' lending and investing =

mortgage ©

THREE BEDROOMS—This attractive home is featured in the Stanley Realty & Development Ar. thur Drive project. It sells for $12,000.

Insurance Firms Hold Many Indiana Mortgages

Indiana property owners had nearly 50 per cent in the two|21 home builders and suppliers, in

$453,862,000 of their mortgage financing needs extended to them by the life insurance companies of the country at the start of this year, the Institute of Life Insurance reports. These real estate loans covered

69,220 individual mortgages in the state and represented an increase of $139,252,000 in two years, “The years 1950 and 1951 saw the greatest construction job on

record in this country and. the|

life insurance dollars of the nation’s 86 million policy-holders have played an important roleiin providing the necessary financing for this gigantic effort to meet the acute housing shortage,” the Institute Announced. “In these two years alone, the number of mortgages outstanding in this state with the life insurance companies increased by 17,690,” the report continued. For the country as a whole, the total funds loaned by the life in-

\years and stood at $19.09 billion lat the start of 1952. The number of mortgages rose by 644,580 to 2,009,020 on January 1. Last year's increase in mort{gages held throughout the country by the life companies was 283,880 in number and $3.16 bil{lion in amount, This was 1 per

cent greater than the 1950 inlcrease in amount, despite the application of credit curbs on construction under Regulation X, The record increase is attributed to the carrying out of a large

ahle to see the pattern of entire new neighborhoods as they grow, And you'll be able to spot the many variations on Americans’

| - Other prizes include a fireplace |unit, a heating plant conversion, Formica topped kitchen cabinets and other items.

More Parade Events At Ayres’ Auditorium

By QUENTIN BURGESS Executive Secretary, Marion County Residential Builders Indianapolis and Marion Coun-

ty folk are going to get one of the finest and most complete National Home Week presentations that has ever been arranged since its beginning back in 1948. Not only will they have the chance to see and inspect one of the largest home displays in the country, but they will also witness the first National Home Week community program.

All during the week of Sept. 16-

cooperation with many eommunlity associations and government- | al agencies, will be demonstrating |the true significance of National (Home Week. Headquarters for {this will be in the L. S. Ayres | Auditorium during the entire | week from 10 a. m. to 5 p. m,, | starting Tuesday and running | through Saturday.

Guide to Care

It isn’t at all surprising that such a refreshing approach to [the nation’s biggest business and {Industrial celebration should start

{right here in Indianapolis, be- |

Home Owners’ Maintenance Man» ual given to the new home owner as a guide to care for the new home.

Message of Pastor

The community program starts Tuesday at 1:30 p. m. in the auditorium with an inspiring message on “The American Home" by the Rev. Francis T. Johnson, pastor of Grace Methodist Church at 301 N. Grant St. During the afternoon local citizens will have an opportunity to hear all details about local hous- | ing problems from Richard Oberreich, executive secretary of the | Indianapolis Redevelopment Com- | mission. | Indianapolis and Marion | County has the jump on the rest {of the nation in establishing a program of slum prevention beigh the “blighted” areas begin to appear on a large scale,

Fight on Blight

After the housing problems {have been presented the total { housing program will be discussed Wednesday afternoon and will

volume of commitments made pri-| cause we have one of the finest| show how every group in the com-

or to Regulation X; an increase in

construction for defense-support-| ing- purposes, and a high level of |

construction conforming to the limitations of the credit curbs. The mortgage financing coun-

trywide outstanding with the life

insurance companies has nearly

tripled since the end of World War|

II, the six-year increase amount-

ing to $12.5 billion. An estimated

two-thirds of the life insurance

surance companies to property mortgage financing was on hous-

owners. in the U. 8. increasedling.

TAR Rs

| equipped kitchen, 2!/;

en i 7 WH

CANTERBURY HOME—Open to the public today, this new by Ford Woods & Co. and sells for $33,500. It has baths, a colonial fireplace, an extra large living room and landscaping. $

Canterbury Home Held Open Today

three bedrooms, a wood

{quality residential building pro|grams in the country and every effort is being made by the builders, suppliers, realtors, and governmental agencies to augment the program even further. One representative example is the home owners service warranty which is being offered to {the members of the Marion County Residential Builders, Inc, by |the board of directors. The war|ranty will be accompanied by a

5m 9 4

home at | 147 Castle Row wii built lot, a completely.

® A

| munit is working together in an {integrated program to prevent “blighted” areas from appearing. Even more convincing of the {emerging slum prevention pro|gram is the fact that the entire {day on Thursday is centered | around economy measures of aequiring homes choosing the right designs and plans, locations, | builder, finance plans, and all other details including landscaping. Builders and suppliers have devoted Friday to the home owner's responsibilities of caring for the home and home improvement measures, fundamentally essential to prevent slum or “blighted” areas.

‘Economical Living’

“Slum areas,” according to Mr. Fred L. Palmer, a long-time builder in Marion County, ‘don’t just happen. They are the result of allowing the houses and dwelling units to run down to the point of creating slums.”

Efficient and economical living is the theme of Saturday. Local housewives will have a real chance to see how many hours a week can be rescued from drudgery and, spent in devoting more time to a family, and the surprising thing about it all is that it won't mean extra financial ouflays for her to acquire this extra

| time. |

Buses Get New Notes

| © A musical note will soon be {heard on the buses of one Chicago |bus company, Bus Transportation 'magazine reports. The company plans to introduce electric fare boxes that will sound one tone for a nickel, another for a dime. But

a hoarse razzberry will herald the arrival of a 3 : an ioe aer® | 5