The Los Angeles Times from Los Angeles, California • 149

I 6 Pari VIII Sunday, February 8, 1981 Eos Angeles Slimes Realty Barometer February 8, 1981 An override of wraparound mortgages is proposed by the federal government, according to Min Fax newletter (275 Madison New York, N.Y. 10016). The Federal Home Loan Bank Board is asking for public comment on its proposal to override state laws setting interest ceilings on the exotic mortgages that combine two loans in one. The proposal is designed to remove legal problems in a dozen states which preclude a new buyer from taking out a bigger loan to wrap around the lower-interest mortgage of a seller. Housing prices are trailing the inflation pace, says the Crittenden Report (P.O.

Box 128, Nevada City, Calif. 95959). The report predicts that when mortgage capital is available in sufficient quantity and when inflation headline scares hit the consumer again, he will return to buying houses. This appears likely to occur in the middle to latter part of this year. At that time, the report says, prices will have to move fast to catch up with the inflation pace.

A new surge in the development of condominium shopping centers is reported by Shopping Centers Today (665 5th New York, N.Y. 10022). The centers tend to be small strips, rarely exceeding 80,000 square feet. Buyers are most frequently mom and pop operations or small, regional chains. In a number of cases, however, investors are purchasing as much as 50 of the space and leasing it back to retailers.

LOU DESSEB miiiMjii.jii in uii iiiiiiwiHMiiiii.iiiiiuji'jL vyir r.r-r"""a s. it -Jii iSm fcaMiirtiiiiiiniiiiii: i immaMw mil I tii iirnTn iriTnrnw wi irmiirMifgmitniiilliiwniiort i riWTT linini MmniMWM imnmmmM ff mT It From $290,000 Office hours New May Co. Structure to Open in Bonita Plaza The May Co. will open its newest store March 5 in the 83 -acre Bonita Plaza in Bonita. The estimated construction cost is $10 million.

The two -level structure, with a stucco and tiled exterior, will offer customers a complete line of merchandise including furniture and major appliances, according to Mark Pucci, vice president of store planning for the May Co. Thomas Cruce has been appointed general manager. Architect of the Bonita Plaza store is the firm of Abrahamian Plagiassotti Tanaka. Interiors were designed by Martinez, Takeda and Hahn. 10 a.m.

to 6 p.m. 2bd 2ba 3ba 3561CallelaFuego, Thousand Oaks, CA 91360 (805)492-2488 (213)886903 ah, yes! Because these homes are not only beautifully crafted, but they also preside in a magnificent setting. Perched behind the crest of the Mountclef Ridge in Thousand Oaks, Cresta Montanosa homes overlook the Santa Rosa Valley and the majestic countryside beyond. Tile roofs and Spanish lace stucco delicately accent the country sophistication of these three and four bedroom luxury homes. Sweeping staircases of solid oak, polished hardwood cabinets, French doors that open onto intimate garden retreats, and large country kitchens that are as wonderfully detailed as they are efficient.

Complete with energy saving appliances, air conditioning and automatic garage doors, and wired for security and intercom, Cresta Montanosa has been designed for quality hving in an environment of breathtaking natural beauty. This ideal location, with its panoramic view of the Thousand Oaks area, offers convenient access to metropolitan centers as well as to some of the finest shopping, dining and entertainment in Southern California. Picture life spectacularly at Cresta Montanosa. fi J5 North I VenturoFwyl lg Map Not I To Scale I Fashion Show to Open The $74-million Fashion Show, a regional shopping center on a 34 -acre site next to the Frontier Hotel on the Las Vegas Strip, observes its grand opening Saturday. The two-level enclosed mall, a development of Ernest W.

Hahn Inc. of El Segundo and Summa of Las Vegas, includes five major tenants in more than 820,000 square feet of retail space. OPPORTUNITY aO" Dowim Mills Closimij Sample Purchase: Selling price Down payment Loan amount $82,000 at 1278 (13 'i APR) for 72 equal and consecutive monthly payments of $897 plus tax and insurance. A balloon payment is due at the end of six years. Ask about other financing plans available.

Come visit us at the corner of Colima Road and Country wood Ave. from 10 a.m. to 6 p.m. or call collect (213) 912-4549. Ask about our exciting new single family home community in Rowland Heights.

I 3 ul IColimaRd. -M 1 1 NEAR THE The attractive financial terms at Country-wood can move you into an exciting new LuskTownhome of your own, in a lovely neighborhood just 20 miles from the heart of L.A. Countrywood's ideal location enjoys easy access, via nearby freeways, to all the primary business centers of L.A. -and Orange County. There are 2 and 3 bedroom plans and many smart exterior elevations to choose from in each fourplex design.

It feels like home from the moment you move in. 12Fs Interest (13 APR) For 6 Years JK I I I Yu Hun! Interiors by Serengeti. Country wood in Hacienda Heights from $85,000 Price effective at time of publication. Financing flans subject to buyer qualifications. ffSS "S5 I.

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