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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Nov 18, 1972
Page
3
Fred Tucker Jr President of the National Association of Real Estate Brokers predicts wage price and rent controls will end by spring 1973 and be discontinued by year end. He cites vacancy surveys to show housing alternatives and urges ending controls where vacancy is five percent or more.
Inter-City Relocation Service reports a strong residential real estate market with stable interest rates and ample mortgage money. The survey shows 7.33 percent average loan rates in early 1972 rising to 7.44 percent in October, with many respondents expecting rates to hold, and 66 percent citing good mortgage money supplies continuing through 1972.
Agnew Development opens Buena Vista Ranchos a Tempe residential project emphasizing equestrian living. Located three miles south of Baseline Road on Rural Road, the development includes 151 lots with 64 half-acre sites and a majority of one acre and larger parcels for buyers seeking outdoor space and horse-friendly acreage.
UPI reports 193,900 new housing units completed in September, up 5 percent from August and 14 percent from a year ago. Government data from Commerce and HUD noted 1,641,100 privately owned units were under construction at month end.
John P. Farry president of the United States Savings and Loan League backs a Federal Home Loan Bank Board plan allowing federal and savings and loan associations to issue mortgages with fluctuating interest rates. He says the variable rate could end mortgage cycles since 1966 by providing a steadier flow of funds for home building and real estate.
The apartment scene shifts toward smaller units with built in recreation and family friendly amenities. Developers emphasize time saved and less home maintenance as key benefits for tenants seeking leisure activities and easier travel. A Las Vegas project includes child care and a youth program while authorities warn about fake SBA endorsements from unethical contractors.
Darlington Brooks of Tom Jackson & Associates will headline the Scottsdale Multiple Listing Service weekly breakfast Monday. He will discuss his 12 week Far East tour and conversations with real estate professionals. The meeting begins at 7 30 a.m. at the Holiday Inn.
Architecture interior design and planning students from across the United States will gather in Tucson next Friday and Saturday to discuss the ecology of the Southwest. About 800 to 1,000 students will explore growth energy needs resources and land use with speakers from academia and professional associations.
Phoenix attorney Joseph P. Ralston joins a 12 member national New Communities Advisory Board named by Secretary George Romney of HUD. Ralston of Ryley Garlock & Ralston has long advised on new town planning and financing and has counseled McCulloch Corp. on developments in Lake Havasu City Fountain Hills and other sites. The board, chaired by Linwood Holton, will guide project management social planning and funding for new communities.
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