Posts made in May 2016

Realtor Gets 6 Years Behind Bars

As far as I’m concerned they should’ve given him a lot more time in the big house.  The guy was a real jerk, and the State’s Attorney General’s office finally got him corralled and locked behind bars.  Thank God!  I opened the Indy Star over the weekend and stumbled upon an article (see attachment) about David Garden getting locked up and let’s just say it put a big *** smile on my face.

You see, one day a half-dozen years ago, I got a call from Bank of America telling me they had a mortgage customer, Pam, who desperately needed help with a short sale.  So, I called Pam and listened to her story.  She tells me this David Garden character had talked her into doing a short sale and had told her she needed to move out of her house so he could get it done.  That was red flag #1 as most of the time with short sales the homeowner was able to stay in the house until it actually sold.  As I questioned further I realized that this Garden guy wasn’t incompetent.  Heck no, he was a crook.  I just didn’t know how big of one yet…

Pam told me that Garden had rented out her house and was collecting the rent.  He wasn’t sharing the rent and after nearly a year the short sale was going nowhere.  So I went over to the house to see about getting the tenant out of there so Pam could move back in while I went about the many months long process of bringing about a successful short sale.  After a couple tries, I finally caught the tenant, Susan, at the house.  We talked and she was nice enough.  And then she told me her story.  Well, actually it was Pam’s story!  Garden had given her the same song and dance, and had moved her into Pam’s house where she was paying rent to Garden.  Meanwhile, Garden had rented her house to someone else and (you guessed it) he was pocketing that rent as well.

With a little work and a whole lot of patience, I got the tenant at Susan’s house to move along, got Susan and Pam back into their respective houses, eventually sold both houses, and both women were able to move forward with their lives in an orderly non-stressed fashion.

Like so many people, they had the rug pulled out from underneath them during the Financial Crisis, losing jobs only to struggle to find employment at a lower pay scale.  They could not keep their mortgages up.  And while they were dealing with all of that, raising Kkids and grandkids, this predator David Garden was taking advantage of these women (and dozens of others like them).  What a jerk!  I am so glad he has finally gotten his just deserves.

If you’d like an ethical hand to help guide you around the predators, do give me a call.


 “I work harder to make good things happen!”  -Bob

Average Sales Price Hits 150

MIBOR issued its monthly report for April and for the first time, the median average sales price in central Indiana hit the $150,000 mark.  The push came from a combination of increasing sales coupled with tightening inventory.

Sales surged 12% while the number of new listings shrank 4% compared to last April’s numbers.  The combination has been trending, and has caused the months of inventory to shrink to just 3.9.  DSC04420That’s a tight market.  While there are plenty of buyers, one has to wonder why the sellers are sitting on the sidelines?  With sales and prices on the rise, one would guess more home owners would be planting For Sale signs in their front yards!

If you’d like to see what this market might have to offer you, give me a call.

City Kicks Off Great Places 2020 Initiative

Close to 500 people were in attendance last week to kick off the Great Places 2020 Initiative, ac private/public partnership that has already committed $84 millions.  Those dollars will be concentrated in a very tight geographical zone to serve as a wellspring for an entire neighborhood.  Think Fountain Square, think Mass Ave.

Get a bunch of companies, non-profits and the City to pump tons of money into a street corner, then watch the private sector move in and set up shop to create a “really vibrant, walkable, thriving” place, as Tedd Grain, Deputy Director of LISC Indianapolis remarked.

The initial three targets are:

  • Englewood Village, centered at East Washington Street and Oxford.  The vacant 125,000 square Mallory Building is available and could serve as a cornerstone.
  • River West.  Yes, just west of the White River at Michigan and King Avenue.  Close to IUPUI and the growing medical district.  With 30% of the area’s houses abandoned, there’s plenty of opportunity.
  • Maple Crossing, at 38th and Illinois.  Again, lots of opportunity (if you want to call it that).  Close by are the Children’s Museum, Butler, IMA, and the Fairgrounds.  The City has already committed to investing $5 millions into Tarkington Park.  It will then serve as the anchor around which the newly revitalized neighborhood will spring.

Will all of this happen overnight?  Certainly not.  Will it surely work?  Hmmm  Although if they pour enough money into it private money will follow and there will likely be some improvement-even if these areas don’t become the next Mass Ave.  Is there money to be made here for home buyers and investors?  Most likely.  Although it will pay to do your homework and buy smart.K

As with anything else real estate related, if you want the latest, most up to date info (and some ideas on how to put that to good use for your own self) just call me!

 “I work harder to make good things happen!”  -Bob