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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Apr 20, 1968
Page
2
Mortimer B. Doyle of the National Forest Products Association predicts the home building sector will rise by about 100000 housing units above 1967 levels in 1968, contingent on mortgage money markets staying firm. He cites strong demand, weather and credit factors, and a record inflow of funds into savings institutions in 1967.
Local edition dated Saturday April 20 1968 featuring daily news briefs and notices from Scottsdale and surrounding areas. Includes community updates, event listings, and local market items found in the Scottsdale Daily Progress.
In a heated Capitol Hill exchange Lyndon B. Johnson and Rep. Wright Patman clash over how to stimulate private money in the home building market. Johnson backs raising FHA VA mortgage ceilings to attract private lenders. Patman warns higher rates would reduce housing and hurt buyers, citing 1965–66 FHA insured units decline.
Senator Paul Fannin calls on Congress to end the 6 percent ceiling on FHA and VA mortgage rates. He cites high discount points and the burden on sellers buyers and financial institutions. He notes potential changes as the Fed raises discount rates and explains points paid by sellers to finance FHA or VA loans.
The article explains that since 1908 real estate brokers formed a national association to protect the public and uphold ethics. Local chapters, court of ethics hearings, and a sponsor based admission ensure brokers become Realtors, aiming for the highest professional standards.
A Scottsdale townhouse owner complains of large tax differences versus single family homes. County Tax Assessor C L Sparks explains townhouses share lot taxes and taxes focus on the structure. typical $22,000 townhouse taxes around 400 compared with $600 to $709 for a similar valued home. smaller square footage also reduces taxes.
Two Scottsdale real estate firms announced eight property sales in the area. Listings include Mereway Manor lots sold to the Graysons, the Wards, and the Leepers, plus homes at 8037 S Coronado 4525 N 74th Pl 6821 E Edgemont 8631 E Mariposa 8055 E Virginia. Sales were handled by Id Thirkhill Realty and Tom Fannin and Associates. A.J. Collins will speak on Scottsdale on the Go at the Scottsdale Chamber meeting at Villa Monterey Restaurant January 11 11 45 a.m.
Scottsdale Daily Progress lists open houses Sunday 1:30 to 5 p.m. across four district codes E-6 E-8 and E-9 with entries for E-6 Realty executives Inc and E-8 Keefe Realty Co and E-9 Hollister Realty detailing multiple addresses including 4630 E Palomino Dr 6719 N 58th Pl 5028 N 46th Pl 6037 N 40th St 6115 N Camelback Manor 8232 E Meadowbrook 4709 N 88rd St 467 N Miller Rd 6642 E Windsor.
President Johnson outlines a plan to build six million housing units for low and middle income families in the next decade with 300000 next year. He asserts a move toward home ownership and stresses expansion across private homes public projects and interest policy.
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