The one question asked of real estate men most often is, "Is now a good time to buy a home?" During recent years in Ames there could be but one answer. With the very tight situation in rental properties, the answer almost had to be, "Price ARE high, and rentals are tight, so if you want a place to live you'll probably have to buy."
Now, however, D.S. Tripplett, who operates one of the oldest real estate and insurance firms in Ames has a much more sound answer for the ever present question. Ask him today, and he would tell you something like this. . . "Premium prices for existing homes, generated by the housing shortages accumulated during World War II have been pushed downward to realistic levels by the tremendous amount of building by local contractors and individuals." He will go on to say . . . "This trend, plus the recent loosening of the mortgage market with lowering interest rates and down payments creates a most advantageous situation for home seekers."
Nationally, private industry has built about a million new homes this year. Next year it is anticipated that an additional 200,000 homes will be built, bringing the 1955 total to 1,200,000. To point out new advantages in home financing brought about under the Housing Act of 1954, Triplett said, "Prior to the new 1954 law, a $10,000 loan over a 15 year period required a monthly payment of $79.10 to pay principal and interest. Today, the new 30 year plan, as provided by the law reduces the payments for that same $10,000 loan to only $50.70 per month. This change, and the reduction of the required down payment places home ownership within the reach of many more families than ever before."
Triplett feels that home ownership is most important to the citizens of a city like Ames, for here with the rentals being as high as they are an owner not only gains a better place to live with all the pleasures and pride of a home owner, but he can make the purchase of a home a profitable investment from income tax savings. Interest paid on borrowed funds, carrying charges, and taxes usually bring the cost of homeowning below the cost of renting . . . plus the fact that interest paid and taxes are income tax deductibles . . . an important factor today when considering the family budget.
D.S. Triplett, who graduated from Iowa State college in 1930 with a degree in general engineering worked at the profession only about a year. He had joined the Ingersoll Rand organization, was sent to their factories in Pennsylvania, but it didn't take long for him to realize that he was a mid-westerner at hear. Living in industrial areas did not appeal as the ideal life . . . so he and his wife returned to Ames where he joined his father-in-law, the late late E.C. Sawyer, in the real estate and insurance business. He has been engineering ever since . . . engineering real estate deals for Ames citizens.
Mr. Sawyer, who had started the business in 1913, had offices on the second floor of the Woods building. He knew the business from the ground up, and taught the fundamentals to his son-in-law and partner. Following Mr. Sawyer's death in 1936 Triplett kept on in the same location until 1950 when he moved into his newly acquired ground floor location at 310 Main street.
Under the firm name of D.S. Triplett, Realtor, he specializes in residential property, both existing and new, farm lands, and property management. He also writes a complete line of general insurance, and is agent or loan correspondent for several insurance companies to negotiate mortgage loans, on Ames properties, including conventional loans, FHA loans and G I loans.
During World War II he was called into the Corps of Engineers, U.S. Army as a reserve officer. He had attained the rank of Major about one year before he was released early in 1946.
With an intense interest in civic affairs, Triplett has been serving on the City Plan Commission since 1947, where he as an opportunity to use his engineering education and his real estate profession of the benefit of all Ames. He is acting chairman of the commission at this time.
Mr. and Mrs. Triplett and son Jim, a junior student at Iowa State college, live at 1004 Ridgewood Avenue.