Real Estate Legacy Part 1

Today, January 31st 2009, I just got back from sharing some time with my dad, Thomas S. Osborne, and my youngest son, Scott. Not sure if Scott will ever be in the real estate business, but I still think Dad was a real estate legend.

Dad joined the family business, A.H.M. Graves Company, in 1955, just a month before I was born. My grandfather, dad’s father-in-law, was Mr. Graves. Dad was one of several family members from his generation in the company and he was just as determined to succeed as my grandpa was determined to make the real estate and building business tough for each of these guys. Dad looked for unique ways to contribute, and he did it. The company was primarily a home building company and the brokerage of real estate was primarily the way to facilitate the sale of their new home specs. Dad had the vision to develop the brokerage side of the company, hire people who were generally young and enthusiastic, helped them be the best they could be professionally, and you know what, those folks became the next wave of real estate legends.

Now, fast forwarding to today, I know that my blog site, www.BuyAndSell101.com is in its infancy, and I want it to be a fantastic tool for buyers, sellers, and other agents; but I’m in my 31st year of the residential real estate business and I wanted to share a little bit about how I got here.

Dad was one of the first agents in the city of Indianapolis to sell a million dollars of real estate. That’s pretty amazing when you consider the typical home on my street was $13,000 to $18,000. Dad was one of the pioneers of the Multiple Listing Service; a cooperative association of Real Estate Brokers to share listing information so that a rising tide raises all ships. Can you imagine what the real estate market could have been like today without this service? Recently, the Metropolitan Indianapolis Board of Realtors changed the name to the BLC, Brokers’ Listing Cooperative, to better describe the source and beneficiary of the information. Also, I’ve got to tell you that another member of the Graves family legacy helped redefine this transition and that is my first cousin and Immediate Past-President of MIBOR, David Bickell.

As a kid, I would meet some of his clients and I would try to be involved at any level. Turning on the lights for Sunday open houses, cutting the grass for the spec homes, and basically any odd job I could get in the family business, even if it involved a broom, dust pan, or a fresh box of light bulbs. I would try to absorb info about the transaction process and learn how he marketed both the company and the properties of our clients. He gave me tid-bits from how to take the best photos of a property, to how get a buyer financed so that it’s best for that client, through ways to get the exterior of the home looking its best.

So today, as you hear my suggestions to help make your house the most marketable property for the buyers to consider, or you hear me talk about buyer options that will have an impact for today and years in the future, you now know about my initial real estate hero, Tom Osborne. Thanks Dad.

One Man's Dream and Courage Changed My Culture

Martin Luther King, Jr. Day. Have you thought about how your life is different because of Martin Luther King, Jr.? My real estate business and my relationships at all levels are enriched because he had the courage to challenge the status quo. When I went to high school, I was in a slightly mixed racial culture; but I had no idea how it was dominated by the whims and preferences of the white culture, even in the early 70’s when the law said "equality meant equality". During that time period, I cherished the friendships of my African-American brothers and sisters through high school and college. I went on living my life as I always had; but during the mid-90’s, I realized that everything wasn’t smooth, everything didn’t fit together nicely. I learned through racially diverse preachers at Promise Keepers in Indianapolis that men and women of color were still being discriminated against and that I had to seek forgiveness of the sins of my fathers. This wasn’t my dad that I’m writing about, it would be dozens of generations who have suppressed men and women because their skin did not look like mine. I sought God in prayer, wanted repentance and forgiveness for me and the generations which came before me, as well as the ones that I can influence which come after me.

In December, I was taking my dear daughter, Katie, to Bloomington for a final exam. It was going to be on the effect of media and public policy. We talked about the peaceful demonstrations of brave patriots like Martin Luther King, Jr. If I had known then what I know now, I would have wanted to aid in their cause.

As I was driving home this evening, I realized that the real estate market has drastically evolved during my thirty-plus year long career. Now, any race and any religion can execute their right to live any where, any time. Now, there are no glass fences out there. All people are welcome everywhere.

As I recap, I feel that Martin Luther King, Jr. gave me the opportunity to be a better man. I have worked with clients and associates of all color and my life has been enriched. I got the opportunity to sharpen my skills because race does not create barriers, it creates opportunity. I love it when I can look at the screen savers of our computers at home because they’re filled with photos of friends of all races including mixed races, reminding me that each child of God is valuable and worthy of respect. Because Dr. Martin Luther King, Jr. proclaimed his dream, I’ve been able to live more of mine. Praise God for his courage.

How about an Affordable Classic Home?

Your best & brightest future might be... somebody else's dream home from 1970. You could be money ahead, big-time. Now the house featured here is not for sale right now, but this could be an ideal example of your best financial future and enjoyable environment.

Where are these homes now?

The older homes in Washington Township, Lawrence Township and southern Carmel are some of our region’s greatest community resources. In the future, the Indianapolis regional consumers will become more aware of the overall cost of home ownership. They will recognize the opportunity cost and make decisions considering their other lifetime financial responsibilities. Families will acquire a classic Indianapolis area home for something in the range of $135,000 to $250,000; then make improvements that go from minimal dollars for cleaning and painting through a more substantial investment that includes opening up walls and updating kitchens or baths. The net effect is that the owners will have a home which feels like something that is much, much more expensive in the suburbs, but their combined cost for acquisition, improvements, principal, interest, and taxes should be less. A prudent opportunity cost as the regional consumer becomes a more fiscally conscious individual, more aware of eventual education and retirement expenses.