INDIANA Real Estate News Uniting and Growing Real Estate Professionals in Indiana
CIRCA APARTMENTS RENOVATION Check out the stunning renovations, pg 21
KNOW YOUR RULES: REMEMBER TO RENEW Learn about real estate rules and regulations, pg 6
CELEBRITY HOME FOR SALE
Paul George has put his Geist mansion on the market, pg 11
REAL ESTATE AGENT RUNS FOR ELECTION
Tim O'Brien is a hopeful candidate for Evansville city council, pg 8
NOVEMBER/DECEMBER 2018
INDIANA Real Estate News Editor in Chief Aaron Henze
Editors Aaron Henze Tera Moore Chris Zazzetti
Writers Aaron Henze Tera Moore
Photographers Chris Zazzetti Dustin Jenkins
Contact aaron@indiana-realestate-news.com
News Tips tera@indiana-realestate-news.com
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LETTER from the EDITOR Hello Readers! Thanks for checking out the final issue of Indiana Real Estate News Magazine’s 2018 series. IREN is a multimedia organization dedicated to educating, uniting, and growing real estate professionals in all branches of the industry across the state by use of educational videos, informative articles, and networking opportunities that give back to the communities these professionals serve. Before looking ahead with hope toward 2019, we can’t help but look back at 2018 and reflect on how much we’ve been able to accomplish in our first year with the help of some incredible people around central Indiana. I’d personally like to give a big thank you to Tera Moore and Chris Zazzetti, whose efforts have not gone unnoticed to make our magazine visually appealing and intellectually stimulating. Another big thank you to two of our biggest sponsors, Indianapolis Homes Realty and The Cartmel Home Mortgage Team, whose votes of confidence have opened opportunities to reach more people and continue to grow. And finally, thank you to you, our readers, for not only being receptive to our articles and videos, but also for helping spread our message by sharing our content. We hope to do even better in 2019, and we’re excited about what lies ahead.
For our latest issue, we have another installment of our most popular feature, an Evansville agent getting into politics, an ex-Pacer selling his home, and a feature on the newest apartments popping up around downtown Indianapolis. And of course, we also have the lists and community calendar to help keep you connected with your colleagues. As we’ve stated before, we’re planning on growing even more in the coming year, and need your help to achieve that goal. So keep your eyes open for how we can work together, and remember to stay in touch through our website (Indiana-realestate-news.com), email (aaron@indiana-realestatenews.com), Facebook (Indiana Real Estate News), Twitter (@Indiana_RE_News), and tip line (Tera@indiana-realestate-news.com). Happy Holidays, Happy New Year, and Happy Reading!
Aaron Henze Editor in Chief 3
Table Of
CONTENTS 6
KNOW YOUR RULES: REMEMBER TO RENEW
Learn the consequences of breaking real estate rules and regulations, featuring Scott White of Apex Property Management.
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LOCAL REAL ESTATE AGENT RUNS FOR OFFICE
Tim O'Brien announces his candidacy for Evansville city council and his goals for the future development of the city.
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CELEBRITY HOME SPOTLIGHT
Paul George, former Indiana Pacer, has listed his waterfront Geist mansion for sale.
150 14 TOP INDEPENDENT LIST See Realtors who made the list. (Accumulating from January 1, 2018 - November 30, 2018).
150 18 TOP NATIONAL LIST See Realtors who made the list. (Accumulating from January 1, 2018 - November 30, 2018).
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CIRCA APARTMENTS ANNOUNCES RENOVATIONS JVM Realty finished some impressive renovations to the Circa Apartments off Mass Ave in Indianapolis.
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COMMUNITY CALENDAR See what events are going on in Indiana ~ Featuring events from local groups and organizations.
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cott White is the owner of Apex Property Management since 2009, and is primarily focused on obtaining and managing rental properties, as well as gaining investors for real estate projects. So far, the company manages over 200 units of apartment communities and 150 single family dwellings around Indianapolis and surrounding areas. White, however, had to learn an important rule when it comes to working in the real estate industry. Around July of 2017, White and Apex Property Management had real estate licenses that expired. Nonetheless, White and Apex Property Management continued to list, advertise, and publish several properties on their website for over 6 months after their licenses expired. White then proceeded to renew his license and Apex Property Management’s license around January of 2018. The Indiana Real Estate Commission and Indiana Attorney General were notified of the situation after the renewal had occurred. White was then brought in for questioning about his license not being renewed, even though he continued to be an active real estate broker. The Attorney General of Indiana and the Indiana Real Estate Commission found that White and Apex Property Management violated Ind. Code 25-1-11-
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5(a)(4)(A). White and Apex Property Management were “unfit to practice due to professional incompetence, including undertaking professional activities that Respondent [Apex/White] are not qualified by training or experience to undertake”. The Indiana Real Estate Commission and the Indiana Attorney General also found that White and Apex Property Management violated Ind. Code 25-1-115(a)(6). White “allowed his name or license issued under [Indiana Real Estate Commission] to be used in connection with a business that renders services beyond the scope of its training, experience, or competence”. White also acted as managing broker for Apex Property Management without an active real estate license. After court hearings, the Indiana Attorney General and the Indiana Real Estate Commission decided to order White and Apex Property Management a formal letter of reprimand for the actions committed. When being an active real estate broker, it is always important to know that your real estate license is active too. Always know when your license is about to expire. If it helps, set a reminder for yourself on your phone, your calendar, or any other notification tracker that will allow you to remind yourself to renew your real estate license. It is crucial to always have an active real estate license when you represent your clients or yourself.
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Local Real Estate Agent RUNS FOR CITY COUNCIL
Tim O'Brien OF EVANSVILLE, IN HAS ANNOUNCED THAT HE WILL BE RUNNING FOR CITY COUNCIL NEXT YEAR. 8
WFIE revealed that Evansville will have a seat available on the city council after the current councilman of Ward 1, Dan McGinn, decided to not run for reelection this year. However, reports from the City County Observer declared that Tim O’Brien will be running for the available city council position. O’Brien announced his candidacy to the public on December 11 at Thai Papaya Cuisine in Evansville. O’Brien is well known in the Evansville area, especially after his graduation from the University of Southern Indiana in 2015. Currently, O’Brien works for national brokerage F.C. Tucker EMGE with two other brokers, Shawn Maglinger, and Sharon McIntosh, the broker owner of the Sharon McIntosh Team in Newburgh. O’Brien has also racked up experience in leadership roles. So far, he has been the network chairman for Southwest Indiana Association of Realtors (SIAR) Young Professionals Network and is the current SIAR Board of Directors President Elect. O’Brien’s presidency of SIAR will begin in 2019.
O’Brien states that he “desires to spend his life in the city, and will prioritize improving the infrastructure of Evansville, as well as focusing on overall public safety, and attracting new business to the area”. Evansville mayor Lloyd Winnecke has endorsed his full support for O’Brien in the upcoming election. “I am very excited about Tim’s candidacy and hope he has no primary opponent. He’s a bright young professional with a great deal of potential," said Mayor Winnecke. If elected, O’Brien will “keep the city moving in the right direction while serving in the best interests of the citizens of Evansville”, and plans to “help Evansville continue moving forward and make for a desirable place for all current and prospective residents”. The campaign will begin as early as January of this upcoming year, and elections will be held in November. So far, no other candidates have announced intent to run against O’Brien, leaving him currently unopposed.
9 Photo contributed by Teresa Stephens
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H O M E
NBA All-Star Paul George has decided to put his home on the market after being traded to the Oklahoma City Thunder in 2017.
Photos do not represent actual home mentioned.
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Photos do not represent actual home mentioned.
According to the New Haven Register, NBA All-Star Paul George has decided to put his home on the market after being traded to the Oklahoma City Thunder in 2017. The lavish 12,605 square foot mansion sits on beautiful waterfront in Geist, and is listed for over $2 million. Paul George originally bought the home during his peak season with the Indiana Pacers back in 2013 for a whopping $2.05 million. This home rests on over a half acre lot with a private boat dock, and has five bedrooms and 7 and a half baths. The property’s interior features two story luxury living, complete with grand staircase, 23 foot ceilings, panoramic waterfront views, indoor pool with hot tub, and a private elevator.
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Photos do not represent actual home mentioned. 12
A great addition to the home is the custom built aquarium and koi pond, located under the staircase. The aquarium was built by Acrylic Tank Manufacturing, otherwise simply known as ATM. ATM is the company that is featured on the popular television show “Tanked” which airs on Animal Planet, and stars the main operators Wayde King and Brett Raymer, who build out of this world fish aquariums for clients across the United States. Rumors began in 2017 from RTV6, shortly after the Indiana Pacers began the talk of possibly trading Paul George, that he was in the process of moving out of his waterfront mansion. The news station reported that Paul George could have
Photos do not represent actual home mentioned.
been in the process of moving out after spotting a Penske moving truck in front of the Geist home. After the Instagram photo went viral, Paul George was quick to shut rumors down, stating, “Y’all sure that’s my moving truck or my neighbors [emoji] #GullibleToTheMedia”. Eventually Paul George was confirmed to be traded from the Indiana Pacers to the Oklahoma City Thunder shortly after the rumors spread and currently does not reside at the Geist waterfront property. Right now, the home is listed with Christopher Schulhof with RE/MAX Realty Services at the Indy Place and has been on the market for over 25 days. 13
TOP 150 Independent Brokerage Standings
Rank
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Name
Office
List
Sold
Total
Volume Total
Average Price
Independent Brokerage Standings January 1, 2018 - November 30, 2018 Rank Name
Office
List
Sold
Total
Volume Total
Average Price
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TOP 150 Independent Brokerage Standings
Rank Name
Office
List
Sold
Total
Volume Total
Information is pulled directly from MLS. New construction or numbers not reported to MLS within the date range listed are not included. MLS is not responsible for submitting this data. Some teams may report each agent individually. Indiana Real Estate News does not alter or compile this data, or claim responsibility for the stats reported to the MLS.
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Average Price
TOP 150 National Brokerage Standings
Rank Name
18
Office
List
Sold
Total
Volume Total
Average Price
National Brokerage Standings January 1, 2018 - November 30, 2018 Rank Name
Office
List
Sold
Total
Volume Total
Average Price
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TOP 150 National Brokerage Standings
Rank
Name
Office
List
Sold
Total
Volume Total
Information is pulled directly from MLS. New construction or numbers not reported to MLS within the date range listed are not included. MLS is not responsible for submitting this data. Some teams may report each agent individually. Indiana Real Estate News does not alter or compile this data, or claim responsibility for the stats reported to the MLS.
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Average Price
APARTMENT
Upgrade
Photo Courtesy of JVM Realty Corp
AT CIRCA APARTMENTS 21
In just the past few weeks, JVM Realty Corporation has completed renovations to the Circa Apartments, right off Massachusetts Ave in Downtown Indianapolis. The Circa Apartments were established in 2014 where the original site for Mitchel & Scott Machine Company sits, and consist of over 265 luxury living units in four contemporary buildings. The complex currently offers studio, one, two, and three bedroom apartments, furnished with updated wood flooring, washers and dryers in the unit, gourmet style kitchens with quartz countertops and modern light fixtures, in an open concept layout. Although JVM Realty Corporation did not build the Circa Apartments, they were ecstatic to purchase the property, and establish a detail-oriented and passionate property management team for this one of a kind residential living space. JVM Realty Corporation, located in Oak Brook, IL has been specializing in multifamily housing for over 40 years. So far, the company is ofmanaging over an $850 Photo courtesy Chris Zazzetti million portfolio of multifamily investments across the midwest in states like Illinois, Indiana, Kansas, Missouri, and Ohio. President and CEO of JVM, Jay Madary, believes that upgrading the amenities at the Circa Apartments was long overdue. “Although the community is quite new, we identified the opportunity to enhance the
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common-area amenities to add value for our residents that, in turn, creates value to our investors through rent increase and higher resident retention,� says Madary. In its prime location, Circa is within walking distance of over 60 restaurants, bars, and shopping locations. The community is part of a highly walkable neighborhood with a modern atmosphere and easy accessibility to the Indiana University Purdue University Indianapolis (IUPUI) campus and Fountain Square. The location is also near major interstates I-70 and I-65. While not exploring the amenities of Indianapolis, residents at Circa can also enjoy lounging at the saltwater pool with sundeck, cooking on the outdoor kitchen with grill stations, cozying up to the fireplace, or enjoying complimentary wi-fi throughout the building. The Circa Apartments welcomed new features like an expanded off-leash bark park, pet washing station, automated package room available 24 hours a day, a renovated fitness center, coworking lounge, a new one bedroom model unit that is custom designed, and shareable workstations and conference rooms that are available for daily rent. The clubhouse for Circa has also been deeply renovated, adding a new billiards table, resident lounge, pool area, and deck complete with new, mid-century style furniture.
Lounge
Photo Courtesy of JVM Realty Corp
"We are extremely excited about what these improvements will bring to this already
OUTSTANDING COMMUNITY in downtown Indy." - Jay Madary, CEO
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Kitchen
Photo Courtesy of JVM Realty Corp
When asked if JVM Realty Corp might one day expand to other areas of the United States, Madary was firm to stick to his roots.
Gym
“[We do not have plans to begin multifamily housing and/or investment opportunities outside of the Midwest], not right now. By staying laser-focused on our niche [Midwestern multifamily] we can create maximum value to our stakeholders,” says Madary. For more information about this or other future projects, JVM’s website is http://www.jvmrealty.com/.
Photo courtesy of Chris Zazzetti
Photo Courtesy of JVM Realty Corp
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COMMUNITY CALENDAR JANUARY & FEBRUARY Jan 2nd Jan 20th
It's Not You, It's Me Phoenix Hormel Theater
With Valentine's Day looming, February is a month that makes us all take stock in our love lives. Whether you can't wait to shower your "bae" with affection or you wish this whole month would eat dirt and die, this show is exactly what you need. It's Not You, It's Me is an improvised adventure into the modern dating scene and the age-old phenomenon that is falling in love.
Jan 4th Feb 3rd
They're Playing Our Song Beef and Boards Dinner Theater
Neil Simon and Marvin Hamlisch’s funny, romantic musical about a composer and his relationship with a quirky young female lyricist. Professionally, they work beautifully. But personally, their relationship is out of sync!
Jan 8th Feb 10th
Every Brilliant Thing IRT, Indianapolis, IN
What makes life worth living? The answers are both simple and profound in this one-of-a-kind Off-Broadway hit. A theatrical experience like none other, this witty new play shines compassionate light into the dark corners of the human condition.
Jan 11th 12th
IN State REIA Annual Conferrence Broadmoor Country Club
Friday night VIP dinner with Eddie Wilson, President of THINK REALTY at Embassy Suites North. All day Saturday educational speakers and networking at Broadmoor Country Club.
Have any events you want featured? Email tera@indiana-realestate-news.com!
Why Choose Us? Exclusivity Your company will be the only one in your industry to advertise with us.
Exposure Every MIBOR Realtor will receive a copy and more industry offices will receive a copy across more mediums.
Education In addition to the articles in our magazine, we also produce educational videos and blog posts.
Community Oriented We reward industry professionals for their community involvement and customer service.
Inclusivity We feature the top 150 national realtors and the top 150 independent realtors.
ADVERTISE WITH US! Contact Aaron Henze at aaron@indiana-realestate-news.com