The Los Angeles Times from Los Angeles, California • 145

I HOUSING SURVEY RESULTS RELEASED Homebuyers Put Less Down in 1978 Cofl AnjeUfl Cimt Sua. Jm. 2. 1979-Pirt VIII 33 Italian Restaurant Planned for Encino Shopping Center A new restaurant, to be called Casa di Roma, will be constructed at an estimated total cost of more than $1 million by June, according to restaurateur Jacques Borel founderpresident of the Frere Jacques Restaurant Co. Inc.

The restaurant will be sited on an -foot parcel leased for 25 years in the Encino Town Country Shopping Center, according to Dan Wilkins managing agent of the center, who negotiated the lease. The new restaurant's decor is plannecr to capture the spirit of ancient Pompeii. New Loan Production Noted New loan production for 1978 totaled $1,344,900,000 at United California Mortgage a division of United California Bank, exceeding the previous year's production by 32. with 43.3 of the 1977 sample and 43i in 1976. In other findings, the survey showed that the overwhelming majority of buyers, 85.6, purchased previously lived-in homes instead of new construction.

That percentage was lower than 1977, with 87.2. but it was higher than 1976 with 84.9. Using equity, repeat buyers paid more all three years. In 1978, first-time buyers paid a median price of $37,500 while repeat buyers paid a median price of $50,900. In 1977 first-time buyers paid a median price of $36300; repeat buyers paid $51,700.

In 1976 first-time buyers repeat buyers, $44,500. The first-time buyer took on an average monthly payment of $346 compared with $307 in 1977 and $278 in 1976. The repeat buyer average monthly payment in 1978 was $369. In 1977 it was $357 and in 1976, $324. As might be expected, people with higher incomes assumed higher monthly payments than those with lower incomes all three years, and the average age of the first-time buyer stayed about the same: 28.3 years compared with 28.2 years in 1977 and 28.1 years in 1976.

The average age of the repeat buyer dropped, however, to 35.5 years compared with 37.9 years in 1977 and 35.9 years in 1976. a percentage of income, the average mortgage payment rose to 26. In 1977 it was 25 and in 1976, 24. A Chicago Title spokesman suggested that easier financing last year probably was the reason for buyers making smaller down payments. Most of the buyers, 54.6, made a down payment of less than 20 in 1978 compared with 58 in 1977 and 60.2 in 1976.

Persons putting 10 or less down rose to 33.5 last year from 24.9 in 1977 and 26.9 in 1976. Those putting only 5 down rose in 1978 to 11.4 from 5.9 in 1977 and 9.3 in 1976. Persons making down payments of more than 50 dropped to 6.5 last year from 9.4 in 1977. However, the percentage was greater in 1978 than those who made down payments of more than 50 in 1976. That figure was 6.2.

Conducted last October, the survey was based on 400 telephone interviews in 11 areas of the country. Of those contacted. 40.7 were buying for the first time compared NORWALK moves lf1 financing available to qualified Veterans FROM Vtf'A'-iq you in! 6533 if I i i mm ONLY REMAINING 4 Bed Room 2 Bath Homes At the Corner of Norwalk Blvd. Alondra Area Map keeks i i While prices of homes continued to climb, smaller average down payments were made and higher monthly payments were assumed in 1978. These are some of the findings disclosed by the Family Housing Bureau, a public information service of Chicago Title Insurance in its third annual survey.

The survey revealed that the median price of a home purchased in 1978 was $44,800 compared with $43,700 in 1977 and $37,700 in 1976. At the same time, the average down payment dropped to 21.4 of the sales price compared with 28.1 in 1977 and 25.2 in 1976. To make up the difference, buyers assumed higher average monthly payments, amounting to $359 in 1978 compared with $355 and $303 in 1977 and 1976 respectively. As 33 Homes Offered at Covina Downs Covina Downs, a development of 33 condominium homes in one- and two-story designs, opens today on the southeast corner of Azusa Ave. and Covina Blvd.

in Covina. All but one of the homes are two to a structure, each with a ground-level entry and an attached two-car garage. There are three floor plans and 10 architectural variations. Sizes range from 1,292 to 1,522 square feet and all have three bedrooms and two baths. The homes are priced from $65,990 to $78,990, with conventional financing available at 9.8 (an annual percentage rate of 10).

Each unit has refrigerated air conditioning with individual controls, a private patio and fenced rear and side yards. Other features include wood-burning fireplaces, cultured marble pullmans in baths, color-coordinated wall-to-wall carpeting and luminous kitchen ceilings. Common amenities include a swimming pool and a Jacuzzi. The homeowners' monthly maintenance fee is $55. The builder is Ronald Levine Construction Investment Corp.

in association with Samuel Stone Inc. Two model homes, one furnished, are open daily from 10 a.m. to 6 p.m. The Richland Co. is exclusive sales agent.

The community may be reached from the San Bernardino Freeway by driving north or from the Foothill Freeway by going south on Azusa Ave. AIA to Hear Pei Internationally known architect I. M. Pei and former Vice President Nelson A. Rockefeller will be featured speakers at the 111th national convention of the American Institute of Architects in Kansas City June 3-7.

Pei will address the convention on the afternoon of June 6. At that time he will receive the Gold Medal, the AIA's highest award, from AIA President Ehrman B. Mitchell for "distinguished services to the architectural profession." Rockefeller, also former governor of New York, is expected to give his views on the problems facing architects in rebuilding the nation's cities when he speaks on the morning of June 7. Other speakers will include Norris K. Smith, chairman of the department of art and archeology at Washington University, St.

Louis, and James Q. Wilson, former director of the Joint Center for Urban Studies, Massachusetts Institute of Technology and Harvard. Specialty Center on Way in Escondido Construction is under way on the i i artksu mrwy i i nmBMnmlnwL. ffi I AWT144 kwtfi Immediate ocupincy Value-packed homes in Upland Fully fenced rear yards -1 i i Landscaped front yards II Air conditioning included i Wood-burning fireplaces fj Fully carpeted (even closets) TT 8 Elegant craftsmanship III at affordable prices 1 1 I from $69,990 to $73,990 L- palane) in Upland i Casas De Alondra Builder Frost Const. Agent Macke Realty 923-0971 Model 863-5226 194 SOUTH GENOA, UPLAND (714) 985-8777 IN CARBON CANYON a Brentwood-to -be! A Is The luxury! The lifestyle! And now, home values like Brentwood 1960! 7 square-foot Escondido Specialty Center at East Valley Parkway and Harding St.

in Escondido, scheduled for occupancy in April. Designed by Drake, Sillman Wyman the 4.3-acre complex is being developed by Income Property Group, a San Diego-based office building and shopping center development company. The center will have space for 27 tenants and parking for 235 cars. John R. Bardin Associates, San Diego, is landscape architect and leasing will be handled by Income Property Group, 3878 Old Town Suite 109.

Apartment Complex in Fontana Acquired by Eisenbach Family Dr. and Mrs. Jajfcob Eisenbach of Anaheim have purchased the 16-unit Mango apartment complex at 8940 Mango Fontana, for $415,000 from Dan Hunter and, Phil Simenton of Investment builders of the re-! cently constructed project. Marcus W. Meairs Riverside-based real estate firm, represented both the buyers and sellers in the transaction.

The San Bernardino office of the Meairs firm's property management division is managing the complex and supervising installation of children's play facility, area fences, TV antennas and gutters. Sears Building Being Erected Construction is under way on the Sears, Roebuck and Co. project in Meadows Mall, Las Vegas, Nev. Designed by Charles Kober Associates of Los Angeles, the brick-faced building is scheduled for opening in August. Ernest W.

Hahn Inc. is building contractor. I i it jl pool The finest features are standard here! Tile roof Custom quality cabinetry Microwave oven Outside decking GLOSSARY DESCRIBES REAL ESTATE SECURITY TERMS A 32-page "Real Estate Securities Investment Glossary" has been published by Consolidated Capital companies, based in Oakland. More than 100 terms and concepts applicable to the real estate securities industry are defined in the glossary, compiled by the staff of Consolidated Capital, a full-service real estate investment group. Copies are available at no charge from the communications department, Consolidated Capital, 333 Hegenberger Road, Suite 701, Oakland 94621.

6 models. 1-2 storysplit level. 3-4 bedrooms. Luxury homes with every custom feature and in a view setting of rolling green hills, ancient oak trees, blue skies and open space! Pool, tennis courts, community center for the young people, even bridle trails! The Ranch is in the country. new quality of life is waiting for you it's just minues away.

Burglar alarm Floor safe Fireplaces Air conditioning Carpeting Ceramic tile countertops Sheet vinyl View, ,11 1 1. and much more! Trade in your home for a brand new home from CLInc. POMONA FWY Merrill Ave. IN CARBON CANYON NEW HOMES from only $250 P.r mo and as little as $200000 Down Call Collect 714531-2724 Brand new manufactured home for your lot or we have lots In Lot Angeles, Orange, Riverside San Bernardino counties. Example above: Klrkwood Mod 288.

Price $20,000 APR. 12.96. Finance charge mot. Total Del. price 46,840.40 A-ADVANCED Mob.

Hn. 420 8. Harbor 8anta Anc, Calif. Birch 1 SrS kil TYORBA imperial Hwy Jf LINDA 4, ft, Take the Orange Freeway to the Imperial Highway exit. Go east to Valencia, then north to Carbon Canyon Road.

You'll enjoy the country drive through the old Canyon just past Western Hills Golf Course to the site. Madtl open 10 a.m. until 5:30 p.m. except Friday. (714) 597-4040.

Add lnlrrel For A. P.R. hull Information ivtllahle at lc office. "JUUxonuse ul quality.