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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Feb 26, 1972
Page
3
James M. Woodard reports on stable mortgage rates through 1972 with 7 to 7.75 percent for prime properties, the rise of private mortgage insurance for 90 to 95 percent loans, FNMA’s new purchases, and potential new home financing ideas while readers are invited to submit questions.
Real estate items in the Scottsdale Daily Progress for February 26 1972 include property listings and market updates. Details cover homes for sale, price ranges, and local broker notes reflecting the Scottsdale housing market.
Taxpayers planning federal returns for 1971 must separate deductible closing costs from nondeductible items. While property taxes remain deductible when itemized, charges for surveys, title searches, lenders fees, and many closing services are not. Interest on most conventional loans and points may be deductible if verifiably interest, but VA loan points and certain lender-placed fees are not. Transfer taxes depend on purpose and ownership. business-related or investor transactions may deduct them, while personal residence purchases treat transfer taxes as a capital cost to be recovered on sale.
The Home Builders Association of Central Arizona reports a modest rise in patio homes and townhouses with 426 starts in January, up from 372 in December, while single family starts declined to 683 from 1,087 a month earlier. District starts show mixed totals across West-Northwest Phoenix, North-Northeast Phoenix, and Tempe-Mesa.
NAHB surveys indicate housing production at a record annual pace of 2,549,000 units with optimistic views for 1972. Builders foresee easing interest rates and strong saving inflows as demand for new homes rises, while shortages of skilled craftsmen and rising lumber costs pose concerns. The report cites gains in young couples forming households and a robust market for diverse home plans.
A roster lists numerous residents and their titles including Mrs. Richard Saba Mrs. J. R. Sanderson Mrs. Ben Satran Mrs. Jeanne Schumacher Mr. Paul Shank and others foretelling a community directory snapshot with many households and roles.
A compact listing shows Paul's Scottsdale Hardware at 7131 4th Street and Prince's Pantry with 7736 W Main St, plus Safari Boutique and Safari Hotel near Scottsdale Stationery all presented as a bundled local shop directory entry.
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