Inside scoop on 317 Burger, coming soon to Broad Ripple!

Indy Scene Team has the inside scoop on the newest restaurant opening soon in Broad Ripple! And from what we’ve heard so far, it’s going to be the next hot spot! Brought to you by the restaurateurs of Delicia, Usual Suspects, and The Northside Social (to name a few), this new one is sure to be a crowd pleaser as well.

317 Burger, located where Ambrosia used to be at 915 Westfield Blvd., will have a menu full of….you guessed it, burgers galore! PLUS, gourmet BLTs, fries (can’t have a burger place without fries!), and some other delicious menu items we’ll have to wait for.

Sit on the restaurant side for a nice sit down meal (families are welcome), or on the bar side for some drinks after work!Their bar will have craft beer continually rotating on tap, so you never know what tasty treat they’ll have when you pop in for a cold beer.

You can find them on Facebook here, or on Twitter, @317Burger. They are currently hiring, so send them a message if you’d like to apply.

We look forward to eating there soon!

Why the outrageous flood insurance?

A client of mine wanting to purchase her first home was looking in the Broad Ripple area, and we got her an accepted offer early in September (yay!).  It was disclosed on the listing that the home is in a flood plain, and we knew that the seller paid flood insurance.  They informed us that they paid around $2,000/year. All good! said my client.

We did NOT know, however, that new flood insurance rates would kick in on Oct. 1st due to a new law, the Biggert-Waters Flood Insurance Reform Act. The law, which took effect July 6, 2012, is phasing out subsidies that have kept flood insurance rates low. Why the phase out? The program was left billions of dollars in debt due to several disastrous events.

The law won’t affect anyone who’s had a policy before July 6, 2012, as long as their policy doesn’t lapse. Anyone who has purchased a home in a flood plain since then, however, will now have to pay a much higher premium. Although the law has been in force since July 2012, the rates weren’t available until Oct. 1st of this year, so no one knew the true impact.

But now that Oct. 1st has come and gone, we know how bad it really is. The new flood insurance quotes are so outrageous, it will make it extremely difficult for people in flood plains (i.e. Rocky Ripple and surrounding neighborhoods) to sell their homes.

If a buyer is getting a mortgage, the lender will require flood insurance. If the flood insurance is as high as we’ve been seeing, it could potentially affect the buyer’s debt to income ratio, making them ineligible for the loan.

So, the moment you’ve been waiting for- HOW MUCH are these new rates? My client for one, was quoted around $5600/year by one company, and then settled with a quote from State Farm for roughly $3400/year.  A lender I know had a client quoted at $7200/year.  I wasn’t exaggerating when I said outrageous!

What can be done? The only thing anyone can do as of now is to push congress to change the law. That is what residents in Rocky Ripple are urging others to do. In the meantime, if you’re looking to buy at a home in a flood plain, get your insurance quote before you make an offer.

Check out Indiana Flood Maps.

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Labor Day Weekend Palooza!

Most people plan out their Labor Day Weekend in advance.  A trip to the lake, perhaps? People over for a cook out? (If you’re Sarahbeth, you go to Jamaica – LUCKY!) Others do the last minute thing. Maybe because they are procrastinators, but if you’re like me, you simply didn’t realize it was already Labor Day (it’s next weekend people!).  So, since I’m not leaving town, and not having people over, what is there to do!?

Worry no more late planners, the 2013 Warm Fest is here! It’s a weekend long event that features the Broad Ripple Music Festival and the Indy Arts & Vintage Marketplace. Check out the amazing line up of bands HERE. It’s not Lollapalooza, but it’s right here in our own back yard, conveniently located in Broad Ripple Park.  And at $40 per day (or $90 for a 3 day pass), it’s very affordable for a music festival.

To purchase tickets and check out the full weekend schedule, visit http://warmfest.org.

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~CS

Controversial Broad Ripple Development- Yay or Nay?

Photo courtesy of Nuvo.net

Photo courtesy of Nuvo.net

The controversial development proposed for Broad Ripple received initial approval at a hearing last Thursday. The mixed-use development could include an apartment complex and grocery store. The proposed building has strong opposition from nearby business owners and residents, who are concerned with the size, saying it does not fit in with the unique village-theme look that Broad Ripple is known for.

Others say it will be a much needed improvement, attracting new residents to the area. The building would cover about 2 acres, replacing the old Shell gas station and a decades-old apartment structure.

The proposal still has to go to the full Metropolitan Development Board before any decision is finalized.

What’s your take? Yay or nay for the new Broad Ripple Development?

 

We heart Midtown!

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While Indy Scene Team sells real estate anywhere in the Indianapolis Metro area, our specialty (and what we truly love) is Midtown real estate. Midtown consists of a few different neighborhoods, the three largest being Broad Ripple, Meridian Kessler, and Butler Tarkington. You just can’t beat the variety and character of the homes that fill these neighborhoods, and it’s a pleasure helping those that live here, (and those who want to live here) buy and sell their homes!

Christie lives in Meridian Kessler, Sarahbeth in Butler Tarkington, and Stevee is currently looking to move to Midtown as well!  Click HERE to find out more about the agents of the Indy Scene Team. Call us anytime if you need a Midtown real estate expert!