Oakland Tribune Newspaper Archives May 7 1967, Page 64

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Oakland Tribune (Newspaper) - May 7, 1967, Oakland, California The sunday t r i b v n e classified Section sunday May 7, 1967 1-c buyers know House value the buying Public is too sophisticated to buy poor houses. Builders arc going to have Why did he assess my House Low because property assessors have to consider every the Cash Market value listed on assessment notices usually is less than the amount the property owner can sell his House for. And although several thou Sand residents of Alameda and Contra Costa counties were vexed enough this week to Lodge formal protests be cause assessments Are too a great Many others assumed Luck had smiled on them and were saying things like i Don t have a kick com ing. The assessor figures my place is Worth and i know i won t sell it for less than that s what other houses like mine Are bring ing in the neighbourhood. I wonder Why he did if you take another look at the form you should note that he said Cash Market most houses Are not sold for Cash. The differential the assessor is aware of is in financing and Points factors you should understand. People Selling their Homes continued Page 2c, col. 7 to Cater to the Public s desire for Good design new products and they Are going to have to give More thought to aesthete Burton e. Smith califor Nia s new real estate commissioner had other forthright advice for the a surging Industry this week As head dressed a san Francisco joint meeting of the Bay area mortgage and the mortgage Bankers associations. Let us never forget this de Bacle of 19c5-66 we got our selves he said. Let us be a main Way to avoid trouble is to have All facets of the Industry coordinate to balance Supply with demand. We have to act As an Industry and not five differ ent he said referring to overbuilding still evident in soft spots in places such As Orange county and san Fer Nando Valley. While predicting recovery beginning in midyear and accelerating by year s end to full recovery in 1968" Smith stressed when i talk of full recovery i mean to the Levels of normalcy not the artificial Boom years in the Early 60s." Smith anticipates a very probable housing shortage before the end of the year. Turning his attention to the increased availability of Money for Home building and buy ing he urged lenders to let the fact be he also expressed a worry that the Federal government now liberalizing Money flow after severely shackling the Industry might go too far. I Hope they Don t cause an inflationary Spur Smith continued Page 2-c, col. 6 tree real estate from tax shelter apartments newest addition to the Lake Merritt High Rise picture is Perma bilt investment s 26-Story, million Park Bellevue at 565 Bellevue ave. The architecture firm of Fisher Friedman associates in collaboration with Leo Stillman plan the first four floors for parking and All of the sixth for recreation including Sundecks Tribune photo by rust Large indoor swimming Pool saunas game and party rooms. Rent details Are pending for the 152 one and two bedroom apartments. Tinted windows in Bronze color aluminium frames will harmonize with Granite color pre cast Concrete exterior. Ground level and promenades will be Brick paved. Completion is set for 1968. A million in houses from by John de gel Tribune real estate writer we simply converted a liability into an Oakland investment specialists Edwin r. De Parks 44, and Justus h. Buz Bantz 43, were explaining a unique and highly successful tax Shel Ter they devised four years ago. The liability was unsold housing tracts turned Back to certain savings and loan associations by developers who found they had overbuilt for the Market. The houses had weeds in Stead of lawns. Weather and vandalism were taking a toll. Neighbourhoods were de pressed. These houses became assets when Parks and Bantz arranged to sell them singly or in groups of up to 40. The per sons who bought the houses rented them to families need ing housing. In the process the new owners gained a tax advantage. A tax shelter is an invest ment which utilizes particular features of the tax Laws. They Are Legal. The government has a staff of who see to it. Because tax shelters involve fairly complicated procedures continued Page 2-c, col 1 Index to real real estate Loans on realty.1 deeds.2 lots 3 income investment property 20-29 motels Wabi Lanome Parl 21 commercial property 20-29 commercial property Sites .22 Industrial properties Sites 23 Industrial property 2-s acreage for subdivision 27 Alamenia county ___30-49 Oakland Homes .40-44 Contra Costa county.50-69 other real estai. 70-93 financial business to mines Oil Timber .120 Money to loan.15 rentals apjrtmenti.300-309 hotels Motti .321 rent.323 duplexes 4 houses.325-326 rentals to start.327 rooms for rtnt.328 out of town.342 vacation placet.343 boarding.344 rest Homes .o49-350 rental bureaus.351 business locations.370-372 Halls Industrial for for other classifications set Index Section ii too late to classify on Page 45 Law called threat to old italian custom Rural land owners in Santa Clara county started passing petitions thursday to Block proposed stiffening of a subdivision ordinance. Technically these opponents claim a Man buying 10 acres to grow strawberries could be required to dedicate streets put in fire hydrants curb gutters electro Liers and face potential forced Relo cation for Utility easements and expressways. The 32 pages of proposed amendments to tighten the Law also threaten an old ital Ian custom of a father passing on land to his according to Ken Root of the san Jose real estate Board. Root admits there have been abuses which need correction but he believes the proposed cure is too de tailed and aim of the county planners is to prevent two by four subdivisions where i sell you 10 acres you sell five that buyer Sells three and so but opponents say the pro posed controls Over All parcels of less than 40 acres apply unreasonably to Scenic and Mountain property. This will drive recreation minded people and those who want a Small piece of ground to Clear Lake or the Sierra and thus lower our county s tax Root the Board of supervisors will hear the complaints May 16. Classified display classified display classified display classified display classified display classified display classified display classified display Success through imagination ecco ecco Park from a no Down minimum Down Cha closing my directions to Rath ecco Park limply Tiki my Nimitz Frt Tway Muth to Highway 50. Taki Highway 50 to Thi interaction of Highway 21 and turn North Mateo to Amidor Boulevard. Turn right an Amador Valley Bouvard to . Uve Momic hmm 121-211? by Weisel s Homes communities

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