Tower cites sharp drop in housing starts and loans
Sen. John Tower warned at the National Association of Realtors convention that housing starts fell 15 percent in September from August and 28 percent from a year earlier while September building permits reached 1.6 million. He noted FHA VA loan rates rose to 9.03 percent in October and highlighted a 1.2 billion deposit drain from savings and loan associations in August as part of a long term credit crunch.
MENTIONED IN THIS ARTICLE
John Tower
R -Tex
National Association of Realtors
Tower
Senate Banking, Housing and Urban Affairs Committee
Texas
Savings and Loan Associations
Washington
Congress
270 Patio Homes Planned for Kaiser Aetna Ranch
Robert J. Meszaros of Baker-Crow Co announces a $12 million 270 unit patio home development on Kaiser Aetna's McCormick Ranch. Designed by Alexander and Ganos Architects, the 40 acre site near Hayden Road will offer one and two story homes from 1 200 to 1 900 square feet with four models and lake front options.
MENTIONED IN THIS ARTICLE
Robert J. Meszaros
Baker-Crow Co
Kaiser Aetna
McCormick Ranch
Alexander and Ganos Architects Inc
Phoenix
Hayden Road
McCormick Parkway
Mortgage money available through Ginnie Mae program
Walter B. Williams of the Mortgage Bankers Association said mortgage funds are now available in many U S cities via the Ginnie Mae program. Lenders buy Ginnie Mae backed securities secured by FHA insured or VA guaranteed mortgages with the government guaranteeing timely principal and interest payments.
MENTIONED IN THIS ARTICLE
United States
Walter B. Williams
Mortgage Bankers Association of America
MBA
National Association of Realtors
Williams
Government
National Mortgage Association
Ginnie Mae
Federal Housing Administration
FHA
Veterans Administration
City Development Review Board Defers Apartment Plan Review
The board continues its review of an 80-unit apartment complex at 5877 N Granite Reef Rd on a six acre site with 11 buildings and planned amenities including tennis courts and a pool. Owners Malcolm Guthrie and Richard Ummel of Englewood Colorado lead the project.
MENTIONED IN THIS ARTICLE
Granite Reef Rd
Malcolm Guthrie
Richard Ummel
Englewood
Colo
Hayden Rd
Savittieri Brothers Development Co
E. Avalon Drive
Vogel Construction Co
McCormick Park
Scottsdale
Real estate briefs list executive moves and earnings
McCulloch Properties promotes Henry Alper to senior vice president with added focus on selective commercial sales. Prominent shifts include David Hollis advancing to assistant cashier at The Arizona Bank and David N. Peterson named governor of District No. 5 by the International Society of Real Estate Appraisers. Susan Walls and Rick Vogel assumed health center and recreation director roles at Leisure World Golden Hills. American Continental Homes reports nine month net earnings of 3.615 million, up 22 percent, on revenue over 63 million.
MENTIONED IN THIS ARTICLE
Lorne B. Pratt
McCulloch Properties Inc
Henry Alper
Alper
McCulloch Development Co
Fountain Hills
Scottsdale
MPI
Music Corporation of America
M.C.A
Beverly Hills
Calif
David N. Peterson
Phoenix
John L. Beauchamp
International Society of Real Estate Appraisers
Susan Walls
Rossmoor Leisure World
Golden Hills
American Continental Homes Inc
Also Mentioned on This Page
Meszaros
McCulloch
Hollywood Interests
UCLA
Los Angeles
Los Angeles Symphony Association
The
American Federation of Musicians
David C. Hollis
Arizona Bank
Main Street
Brown Avenue
Hollis
Bank
Park Central
Glendale
Peterson
Scottsdale Community College
Arizona
California
Rick Vogel
Vogel
Leisure World
Salt River Project
Los Portales
Carefree
Southwest
Southwestern
Los Portales Mall
Los Portales Merchants Association
la Llama
Eagle's Nest
Wiseman & Gale
Maggie’s Desert Gifts
Casa de Ora
el Hombre
Russ Lyon Realty
Crossed Arrows Indian Company
Easy Street
N. Miller Road
Coronado Park
Beautiful
Pats Towne
Modelos Abierto
ST. & E. Thomas Road
Henderson Constructors
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