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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Jul 30, 1971
Page
6
A national building crisis prompts a push for industrialized building. The INBEX 71 exposition in Louisville October 31 to November 4 will gather 15 000 professionals to promote factory fabrication of major components as a solution to housing shortages and service-building demands.
Universal C I T Credit Corp president Glen E Jorgensen says buyers can save substantial sums by assuming existing mortgages. With today's higher rates, mortgages on homes bought 15 to 20 years ago carry far lower rates, creating a large gap between old and current market costs.
Aimed at workers, this notice promotes joining the Payroll Savings Plan to automatically set aside a portion of each paycheck into U S Savings Bonds. It touts a bonus rate of 4 percent in year one and a 197 bonus at maturity for bonds issued since June 1 1970, stressing ease of saving.
Secretary Romney pledges a broad attack to curb housing costs after noting the average home price rose from 16825 in 1965 to 25000 last year and monthly housing costs jumped from 148 to 272, as construction wages climbed 41 percent since 1965. He praises Nixon moves to curb wage hikes and aims to help buyers afford homes.
Scottsdale and greater Arizona see single family home construction lag behind 1970 values as townhouse and patio home permits surge. Through June 1971 294 townhouse units valued at 4,036,074 compare with all of 1970. FHA income projections estimate 1200 monthly for home buyers, while apartment projects like Tanco Developments plan 1,600unit complexes and 154 patio homes as land use shifts.
Peggy King of the Paradise Valley office of Henderson Realty captured the Dollar Volume trophy from the Scottsdale Multiple Listing Service for the second time this year. King has one year in real estate with Henderson Realty. George C. Ludtke of 8818 N. 17th Place was named assistant vice president at Sutter Seabright Trust Co Inc, the mortgage banking firm at 300 W. Osborn Rd.
In Phoenix Ludtke has been active in the Valley real estate field for 12 years. A lecture for local architects will cover how materials and construction types affect water needs and insurance rates, with emphasis on high rise buildings. Arvie Korstad and Frank Jones of the Arizona Fire Rating Bureau will present slides at Saddleback Inn.
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