Condominium market matures
The condo craze of the late 1960s and early 1970s sparked rapid development. Architects and developers ran around the clock to meet eager demand while investors and lenders competed for backing. Urban and suburban buyers embraced ownership through home owners associations as a new housing trend.
MENTIONED IN THIS ARTICLE
Robin Maydeck
Copley
Home Owners’ Association
Condo Phobia Recedes as Condos Enter Maturity Phase
The condo boom from 1974 to 1976 collapsed into a glut as buyers hid funds in savings and lenders faced millions in unsold units. Donald Bowen of the National Association of Realtors notes condo development has moved past crisis years into maturity with a second generation of uncertain twists ahead.
MENTIONED IN THIS ARTICLE
Donald Bowen
National Association of Realtors
Bowen
Real Estate Briefs Resident joins marketing leadership in Phoenix area
Tom Woods of Scottsdale named director of marketing for Stewart Title and Trust of Phoenix. An eight year title industry veteran and former Phoenix Young Man of the Year, he also served as Scottsdale Realtors Affiliate of the Year in 1974 and officiated Little League Baseball, including umpiring the 1976 Little League World Series in Williamsport. Ed Caliendo announces a $480000 Centre Court Racquet Ball and Health Spa at Seventh and Turney in Phoenix on 14 acres with a two story 16400 square foot building opening planned for August. John Eldo Brown designed it and Stanley Construction Co. is the general contractor. Coldwell Banker Management Corp. will handle State Farm Life Insurance Co. loan origination in Arizona and Colorado and servicing for loans originated there. Donald Traister named vice president and Tucson manager for Sutter Trust Co. He previously worked as Phoenix loan officer and is 1972 ASU graduate.
MENTIONED IN THIS ARTICLE
Woods
Phoenix
Scottsdale Board of Realtors
Western
Williamsport
Ed E. Callendo
Scottsdale
Caliendo Realty and Development Corp
Seventh and
Turney Avenues
Centre Court
John Eldo Brown
Stanley Construction Co
Keeping Home Costs Within Budget Tips for Buyers
AGNES EDWARDS of the Scottsdale Board of Realtors outlines how much home cost fits a budget. She notes the 2 to 4 times income rule is outdated and suggests analyzing current spending, cutting entertainment, and comparing mortgage terms to reduce long term interest. She also covers down payments, loan length, and settlement disclosures under RESPA, emphasizing questions at loan shopping.
MENTIONED IN THIS ARTICLE
Agnes Edwards
Scottsdale Board of Realtors Housing
North Scottsdale Medical Plaza to Open First Phase June 1
An artist’s sketch shows Kaiser Aetna’s 2.5 million dollar North Scottsdale Medical Plaza in the community core. The 23 000 square foot first phase will open June 1 and provide physician offices and a 24 hour emergency clinic. The 5 000 square foot clinic run by Medical Services Ltd will handle x rays stabilize critically ill or injured patients before transfer and relieve crowded area ERs. The building sits near Pima Road and Shea Boulevard by North Scottsdale Associates serving Paradise Valley and North Scottsdale residents.
MENTIONED IN THIS ARTICLE
Scottsdale Medical Plaza
Kaiser Aetna
Medical Services Ltd
George Stavros
Pima Road
Shea
Winter Freeze Cuts U.S. Existing Home Sales in January
National Association of Realtors reports 206000 existing single family homes sold in January at a seasonally adjusted annual rate of 3190000, down 8.1 percent from December. Regional declines were 8.6 to 10 percent in the South, North Central and West while the Northeast held steady. Median price rose to 39600 overall but fell in the Northeast and rose in the West.
MENTIONED IN THIS ARTICLE
United States
National Association of Realtors
Kenneth J. Kerin
Association
Kerin
Northeast
North Central
Also Mentioned on This Page
America
Tom Woods
Stewart Title and Trust of Phoenix, Inc
Coldwell Banker Management Corp
State Farm Life Insurance Co
Bloomington
Arizona
Colorado
Coldwell Banker
State Farm
Donald Traister
Sutter Trust Co
Tucson
Traister
Arizona State University
Casa Grande
Coolidge
Ior
Terra
Stoy
Scottsdale (Az
Daily Progress
Paradise Valley
Country Club
Russ Ruh
Golden Heritage
Heritage East
Papago Buttes
Camelback Mountain
Somien
Epachs
Schlage
Thomas AD
Lewis
Atawam
Sestage
Lou Regester
Price-Pfister
60Th Street
Thomas
Golden Heritage Homes
Sartahoel
Lite
Eet
Oak ST