Joe Shoemaker

It's certainly been an exciting few weeks for those of us who ove Mid-Century Modern homes in the Indianapolis area. Some really terrific properties have become available across the pricing spectrum. Here's a quick recap.

Remember, too, that if you're interested in seeing any of these homes, please call me directly at 317-413-8501. Or, email me at joe@macduffrealty.com. Not all of these homes are listed by MacDuff Realty Group, and I am publishing them here as a service to my clients and friends.

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9250 Kinlock Drive, Indianapolis, IN 46256
$350,000

What a stunner! This Mid-Century Modern home stands intact and ready for your personalization. Outstanding 2-story Great Room with views of the surrounding forest. It's a house in the trees, with spectacular views from each of the 3/4 bedrooms (den can work as bedroom with a simple door addition), Master can be up w/fireplace or on the main level. Finished lower level walkout. Clean, dry storage basement with lifetime warranty waterproofing. Massive deck. Wildlife abounds. Full of natural light.

SEE THE VIRTUAL TOUR HERE.

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6500 Amber Crest, Indianapolis, IN 46220
$690,000

An O. C. Winters original. I wrote about this one last week. This is a stupendous example of what mid-century modern architecture and design can mean. Except for the kitchen. (Read the post below for all the details surrounding this mistake of an update.) Updates not withstanding, this home is overflowing with true-to-period details and materials. It retains original lighting, slate, formica, casework...what a gem.

SEE THE FULL LISTING HERE. (Listing Courtesy McNulty Real Estate Services)

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5219 Nob Lane, Indianapolis, IN 46226
$124,900

Design by Avriel Shull! Priced to sell quick! Enjoy this beautiful condo--over 2000 sq ft of gleaming hardwoods, limestone fireplace, floor-to-ceiling windows! Just a minute to Interstate, shopping, restaurants, coffee, etc! Beautifully maintained & ready to call home! Best deal on the Northside! Enjoy maintenance-free living today! From 56th & Emerson, north on Emerson to Ladywood Estates, Ladywood Drive to Nob Lane.

SEE THE FULL LISTING HERE. (Listing courtesy F. C. Tucker Company)

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5208 Nob Lane, Indianapolis, IN 46226
$108,900

Another Avriel Shull design in Ladywood. Mid-Century modern Avriel Shull-designed complex. Rolling hills, mature trees, green space! Soaring ceilings, windows-atop-windows underline light & airy design complemented by rich paneling & the texture of stone fireplace. Hardwood floors gleam. Sparkling white kitchen open to family-dining combo. This end unit has great, fenced yard & patio in a condo! Assoc mows inside privacy fence! Basement with high ceilings. 2 Bedrooms, 2.5 baths. Never share your bath! Loft/landg. 2 car att garages. Great location. All appl+ water softener. From 56th & Emerson south to Ladywood, west to 1st right, follow around to 5208 on left.

SEE THE FULL LISTING HERE. (Listing Courtesy F. C. Tucker)

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1200 East King Street, Franklin, IN 46131
$214,900

Amazing house, very contemporary, bright, open. Full walls of windows grace this beauty, both in front & back! Soaring ceilings in grt rm w/its cozy frpl, blt-in bookshelves. In the heart of the home is the expansive kit with massive counter space, incl brk bar, center work isle. Gleaming hdwds in area currently used as dining room has see-thru frpl, could be family rm/rec rm. All this overlooks beautiful back yard with cabana/pool house w/elec. 35x40 det gar w/office/workshop, heat, A/C, water. I-65 to Franklin exit, West to home or East on Jefferson from US 31 to Forsythe, North to King, East to home.

SEE THE FULL LISTING HERE. (Listing courtesy Carpenter, REALTORS®)

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1204 East King Street, Franklin, IN 46131
$66,000

3 Bedroom ranch with 1.5 BA in great neighborhood. I-65 South to ST. RD. 44 (King St.) to home. This is a bank foreclosure that needs some love. It appears as though there have been some updates, but the bones look good. The elevation is very cute. Nice big trees. Lots of natural light.

SEE THE FULL LISTING HERE. (Listing Courtesy of Keller Williams Indpls Metro S)

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109 Morgan Street, Mooresville, IN 46158
$119,900

GORGEOUS 3 bedroom / 1 bath with an unfinished basement! Spacious galley kitchen with breakfast room and breakfast bar...new tile flooring too! NEW CARPET and fresh paint in living room and all bedrooms! WINDOWS GALORE! The exterior is amenity in itself...fully fenced in with a LARGE outbuilding with utilities (still to be finished, with materials onsite!). The backyard is perfected through a wood deck with built-in bench seats and a covered patio! From Main Street/Indiana Street. Take Indiana to Morgan Street and turn Left. Home is on the Left.

SEE THE FULL LISTING HERE. (Listing Courtesy Keller Williams Realty Indy SW)

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4454 North Warwick Road, Martinsville, IN 46151
$239,000

Spectacular home on spacious wooded lot gives you the feel of country living! Open concept, large living room, great room divided by stone wall fireplace. Delightful kitchen, master suite that will astound you. Great for entertaining. Clubhouse, private pool, lakes, tennis. This is truly the vacation you come home to only 30 minutes from Indy. Golf membership available for 18-hole championship course From Indy take SR 37 S, then west at Marathon to Maple Turn Rd & turn right. Follow to main entrance to Foxcliff north, first road, turn left then right on Foxcliff West Dr, follow to Warwick, turn left & follow to home on left

SEE THE FULL LISTING HERE. (Listing Courtesy Sadler Real Estate)

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11412 Niagara Drive, Fishers, IN 46037
$349,000

On its own, this house would be a no-brainer. However, this home is tucked into the middle of an early 2000's subdivision. I expect that this house was originally on a large parcel that was sold to a developer and the owner chose to keep the house intact. Good news for the house. Unfortunately what they built around it is less than beautiful.

5 bedrooms, 3.5 baths. Hardwood floors throughout living room, dining room & kitchen. Living room features vaulted ceiling w/floor to ceiling stone fireplace. Living room has HUGE windows & is open to screened patio & large upper level deck. Lower level walk out has 2 bedrooms, full bath, HUGE family room w/office for two, & HUGE storage area. From 116th & Cumberland Rd - East on 116th, right into Spyglass Falls on Klotz Farm, right on Nigara, home is on right.

SEE THE FULL LISTING HERE. (Listing courtesy Indiana Realty One LLC)

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3961 N Foxcliff Drive West, Martinsville, IN 46151
$339,900

Solid, well-maintained 4BR home on one of the largest lakefront lots in Foxcliff. Water on two sides, mature trees, dock. Priced to sell. St. Rd. 37 S. to Old St. Rd. 37 (Marathon). Turn rt., go over bridge, turn rt. onto Mapleturn Rd. Rt. at 5th Rd.--Main Foxcliff Entrance (stone gates). Take 1st left...to Foxcliff Dr. W. Home on the right.

SEE THE FULL LISTING HERE. (Listing courtesy of Real Living Town & Country)

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221 East 70th Street, Indianapolis, IN 46220
$650,000

A recent large scale renovation by DesignSmith has left this mid-century modern upper Arden home at the top of its game. An incredible amount of original high end/high design features remain: walnut built-ins, circular fireplace, period tile, wood floors and more. This home's relationship to the surrounding site is extraordinary...and what a site it is: nearly 3/4 of an acre of gently sloping and wooded nature. This home is a rare find for the devotee of fine contemporary homes. North Meridian to 70th St. Go east on 70th to home.

SEE THE FULL LISTING HERE. (Listing Courtesy Sycamore Group)

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7034 N. Washington Boulevard, Indianapolis, IN 46220
$350,000

Looking for a project? Here's a good one.

This Frank-Lloyd Wright inspired mid-century home is perched high on a wooded hill in prestigious Arden. Much thought & significant cost went into the design and execution of this home from its original stainless steel kitchen, artistic doors, circular skylights and enough marble in its floors & counters to make even Nero take notice! A most impressive great room has ceilings that seem to reach the sky. The master suite is extensive with its his/hers bath/dressing area. Sold in as-is condition. Meridian north to 71st St. - east on 71st street on E. Washington follow furve to left, home on right.

SEE THE FULL LISTING HERE. (Listing courtesy Sycamore Group)

There have been a lot of headlines in the last couple of days regarding real estate sales, prices and so on. Much of what’s been published, unfortunately, is national numbers.

How relevant are the national existing home sales statistics which are being spit out from our national trade organization, the National Association of REALTORS®?

I mean...REALLY?!? Come on!

What in the name of all things holy do national numbers regarding existing home sales have to do with existing home sales for Devonshire or Forest Hills or Arden or one of a thousand other pocket neighborhoods in the Greater Indianapolis region?

My answer: not a flippin’ thing.

You’ve probably heard the saying that all politics is local. Well... all real estate is local. And in my not-so-humble opinion, all real estate is MICRO local.

That is to say, trends and sales from block to block and from neighborhood to neighborhood change - sometimes significantly - depending on where the specific property you’re concerned with is located.

Numbers go up. Numbers go down. Numbers go sideways.

In Marion County alone, where there are nine townships and numerous little incorporated villages and towns, we’ll find two side-by-side neighborhoods with dramatically different sales statistics.

One neighborhood’s sales may be up for two years runing, and the one right next door might be down for ten consecutive years.

What’s going on - saleswise - at 54th & Kessler North Drive has NO BEARING WHATSOEVER on what might happen in Southport or Speedway or Crooked Creek

The statistics really don’t mean a thing...unless you know how to interpret them.

So here’s the deal:

Are you wondering what your house is worth? Has the value gone up? Has the value gone down? Has it remained flat?

Talk to your REALTOR®. Call him or her. Ask, “What’s going on in my neighborhood?”

Your REALTOR® will pull data from a representative set of recent sales to help determine the current market value of your home.

It’s pretty simple, really. Enjoy the headlines.

Just don’t believe everything you read.

RESPA covers things like the adequate disclosure by mortgage lenders to consumers of charges related to the origination of a loan, the requirement that the lender provide a Good Faith Estimate (GFE) of settlement costs, the disclosure of affiliated business arrangements to Buyers, etc.

There is also a section related to kickbacks, fee-splitting and unearned fees. Section 8 (not the Housing Choice Voucher Program) of RESPA prohibits anyone from giving or accepting a fee, kickback or any thing of value in exchange for referrals of settlement service business involving a federally related mortgage loan. In addition, RESPA prohibits fee splitting and receiving unearned fees for services not actually performed.

This week, the Metropolitan Indianapolis Board of REALTORS® sponsored an event downtown called the“Central Indiana Housing Summit.” It was a yearly gathering of REALTORS® from across the state at the Convention Center, and provides an opportunity to learn from expert economists, politicians, builders, developers and other REALTORS® about the general state of the Real Estate market in Central Indiana.

So here's the thing...A local mortgage company offered free rides on a shuttle bus to the Summit from the Glendale area. Local Real Estate Agents were invited to gather early and ride along, lessen the impact on the environment, avoiding the hassles of traffic, parking, etc.

Don’t get me wrong. I’m all for mass transit and carpooling. Anything we can do to lessen our carbon footprint makes me happy. But I’m also a bit of a real estate law wonk. My interest was piqued. I honestly didn't know if this was something that would get me crossways with HUD. Was this bus ride, as generous and well-intended as it was, a violation of Section 8 of RESPA?

I asked HUD by email about the bus. Amazingly, I received a phone call from Geri Hansen, Compliance Specialist at the Office of RESPA and Interstate Land Sales, US Department of Housing & Urban Development. I re-explained the scenario and her response was clear and unequivocal.

The free bus ride was a violation of Section 8. It would be viewed by HUD as an attempt by this mortgage lender to solicit referrals from Real Estate agents by giving them something of value. Plain and simple. And while the “value” of that thing may have been small to some individuals, it was, nonetheless, a thing of some value.

The response from my fellow REALTORS® was…well…mighty disturbing.

An employee of our local Board of REALTORS® said, “Joe, hate to tell you but there is no violation and I checked. So they were being good citizens, saving gas and the environment.”

I’m not sure whom she checked with, but when a Compliance Specialist at HUD says that it’s a violation, I’m going believe the HUD employee. I’m a bit disturbed, too, to think that a very decent and loyal employee of our local Board – one of my favorite humans on the planet, actually – is incorrect about this issue and her information is coming from within MIBOR. Yikes!

Another REALTOR® - someone who actually manages a large north side office and trains new agents – said in a very condescending way, “knock yourself out and file a complaint. One of my title reps sent me a Valentine’s Day card. I’m turning him in!”

An awfully flippant response to a violation of Federal Housing statute, don’t you think? And this person’s actually running an office and is responsible for millions of dollars in transactions every year?

Yet another agent who is on the Board of one of the MIBOR Divisions responded, “What are you serious??? A Bus ride to a free seminar on housing. I think that’s taking it to the extreme buy [sic] calling thing of value. That's ridiculous!! We are just trying to encourge [sic] folks to go to the housing summit. To call it an item of value is a complete strecth. [sic]”

Heavy sigh…

Should you care if the REALTOR® you hire follows or understands federal housing statute? If they don’t understand the law, but instead choose to overtly ignore it – or interpret it to their own liking – can they adequately represent your interests?

I believe that you should care about RESPA. I do.