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Newspaper
Press Telegram
Location
Long Beach, California, United States of America
Date
Jun 27, 1974
Page
12
Bob Walton outlines crucial questions for prospective condo buyers. Professor Karl Pearson of the University of Michigan cautions about common complaints and stresses verifying shared elements ownership, developer management, warranties, maintenance costs, and potential assessments before committing.
A 60 year old and spouse in good health ask if dropping a $12,000 ordinary life policy and taking $5,000 cash to invest at 7 to 8 percent is wise. They own over $100,000 in cash and treasury notes and fear capital gains if proceeds from selling their house are not reinvested in another home within a year. Tax questions and future housing plans influence the decision.
Sacramento AP reports a proposed measure would require state inspections before mobile homes are sold in California. Funded by manufacturers, the plan could raise each home’s cost by about 16 dollars, according to Dennis Kavanaugh of the mobile home owners group. A survey cited by Owners Teague Inc. found one in three mobile homes had defects.
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