Problems multiplying rapidly in home sales
AP analyzes the housing crisis as high interest rates land and labor costs drive up prices. Median new home prices reach 37 000 to 41 000 while median family income lingers under 13 000, pricing out hundreds of thousands and pushing many to rent. The piece notes aizing costs and slow construction but cites emerging warranties from the National Association of Home Builders and Realtor groups as attempts to address the market.
MENTIONED IN THIS ARTICLE
John Cunniff
New York
National Association of Home Builders
National Association of Realtors
August Dog Days Slow City Construction Permits
City building permits totaled about 1.33 million in August, well below the 1974 peak of 3.3 million. Doug Hood reported 30 single family permits valued at 880 680, up from 1974. No permits were issued for projects over 100 000, unlike August 1974 which included three major projects.
MENTIONED IN THIS ARTICLE
Doug Hood
Rezoning favored near Thunderbird Air Park for garden industry
Phoenix Planning Commission staff recommended approving Arco Marketing Co. rezoning to industrial park use southwest of Thunderbird Air Park. One story buildings and landscaped setbacks aim to limit aircraft overflight noise and safety risks while preserving possible open space. Public opposition deadline set for Sept. 23 with council vote thresholds.
MENTIONED IN THIS ARTICLE
Thunderbird Air Park
Phoenix Planning Commission
Arco Marketing Co
Phoenix
Zack Bunch
Bunch
Paradise Valley
Scottsdale
Arco
Planning Commission
Bunchi
Ross Smith
Smith
Spensacre
How Home Owners Warranty Program Covers Builders and Buyers
About one third of builders associations have adopted the Home Owners Warranty program since May 1974. The plan provides insured ten year structural coverage and direct insurance for defects, with mandatory standards and a builder screening process. It includes a written warranty, seller responsibilities in year one, major defect coverage in years two through ten, and an insurance backstop. Conciliation and arbitration are used to resolve disputes, starting with self resolution and escalating to HOW council facilitation to appoint a conciliator from a volunteer panel.
MENTIONED IN THIS ARTICLE
National Association
Ee An
HOW Council
Real Estate Facts Home Buying Benefit Noted
The piece notes a California condominium developer's computer system for comparing buying versus renting. It factors price, size, tax brackets, and inflation to project future cost, equity, and tax benefits from mortgage interest and property taxes, suggesting ownership generally yields greater tax benefits and investment protection than renting.
MENTIONED IN THIS ARTICLE
Jack Senini
Scottsdale Board of Realtors
California
Also Mentioned on This Page
Air Park
Mesa
Cain & Lee
Ird
Colonial Manor
Eighth Street
N. Brown Rd
Mesa Lutheran Hospital
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