Oakland Tribune from Oakland, California • 58

re I Builder Program On Funds Told uuirei-jiTiuer Wins Award 2-C eikUnblfcfcCrtbttng July 10,1966 Appraisers Rap License Proposal Lafayette are winners ot an' award of merit from the Wal What's the Word? These definitions of real estate terms are supplied by the Oakland Real Estate Board. If you have encountered terms which puzzle you and wish to have them defined mite to: "Terms, Real Estate Writer, Oakland Tribune, P.O. Box 509, Oakland, 94604." CONDITIONAL SALE CONTRACT A con: tract for the sale of property stating that delivery is to be made to the buyer, title to remain vested in the seller until the conditions of the contract have been fulfilled. Blackmon estimated that this could mean a reduction of units in the housing supply in the next 12 months with California bearing a large share of the loss. He added that as production lessens costs will rise they went up 5 per cent in the last year and that the effect will be particularly severe on lower income families." The builder president said that even if action is taken now and the trend reversed it' will be a long time before the building industry is back to normal.

A. four point program designed to counter the effect of the shortage of mortgage funds is proposed by Larry Blackmon, president of the National Association of Home Blackmon called for: 1. Congressional authorization for an increase in the purchasing power of the Federal National Mortgage Association Fannie Mae) so that it can bet- ter carry out its secondary mortgage market function. 2. A ceiling price of 4 per cent on small individually purchased certificates of deposit.

3. Congressional authorization for the Federal Reserve Board to purchase obligations of the Federal Home Loan Bank Board and Fannie Mae. .4. An increase in the maximum interest rate on FHA insured and VA guaranteed loans from 5 per cent to 6 per cent. Blackmon said the actions are necessary because repercussions from the money shortage are being felt and will undoubtedly grow more severe.

He said a national survey by his organization shows that 80 per cent of the builders iritend to reduce activity. nut creeK uiamDer ot commerce for "total, environmental excellence" at their 99-uritt apartment at 1450 Creekside Drive in Walnut Creek. Joseph Duffel, president of the firm, received the award from Mrs. Edmund G. Brown, wife of California's governor, at a recent lunch.

Th firm won a second award for site planning at the Five major United States and Canadian organizations associated with property appraisal are opposed to current proposals for government licensing or certification of real estate appraisers. The five issued a joint, statement following a meeting inthicago at which representatives of the American Society? of Appraisers, the Ameri-cah Institute of Real Estate CLASSIFIED DISPLAY CLASSIFIED DISPLAY CLASSIFIED DISPLAY CLASSIFIED DISPLAY CLASSIFIED DISPLAY CLASSIFIED DISPLAY Officers Elected by He. itects Arch Appraisers, the American Society of Farm Managers and Rural Appraisers, the Society of Real Estate Appraisers and the Appraisal Institute of Canada were present. They charged that the less than professional standards in draft legislation for licensing or certification now being pro-p in several quarters would give unjustified or misleading implications of state sanction or- approval to the work of many appraisers who lack genuine professional qualifications. Conscientious enforcement of codes of ethics and standards of professional conduct by individual organizations aire a the public greater assurance of compete and, ethical appraisal than any proposed licensing or certification would, according to the organizations.

A proposal made during the conference called for creation of a joint committee which would review any cases in which wide divergences of value were noted in work-done by two or more appraisers. Certification and licensing came in for considerable attention during the conference of the American Society of Appraisers in San Francisco a week ago. And, the assessment reform bill signed into law -by Gov. Edmund G. Brown during the past week provides for certification of appraisers who work for government agencies by the State Board of tharles M.

Nes Jr. of Baltimore, will serve as the 1966-67 president of the American Institute of Architects. He was elected to succeed Mprris Ketchum at the recently concluded Denver con-, vention of the organization. Rex Whitaker Allen, president of Rex Whitaker Allen and Associates of San Francisco, was elected to a two year term as institute secretary. He just completed a second term as vice president of the organization.

Cabell Gwathmey of San Francisco was named director for the California region of the institute. Others elected to office during the convention were Rob-e Durham, Seattle, vice president and president elect; a SamueL Homsey, Wi nnngton, George Kassa-bau, St. Louis, and Harold Spitznagel, Sioux Falls, S.D., vice presidents. Now during construction custom design your own fabulous sty house at Kendall Opens Concord Office A new real estate brokerage firm has opened offices in the Ygnacio Valley Shopping Center in Concord. AK "'f I VJ Lmii 'ViiMnri Sou th County Sales Way Ahead of 1965 'Sales through the multiple listing service of the Southern Al a ed a County Board of Realtors during the first five months of 1966 totaled an increase of $7,633,452 over the same period of 1965.

were 1,946 properties sdld an irtcrease of 211 frpm 1965, according to Gene Rpp, listing service William K. Kendall, manager of the Mason-McDuffie Co. office in Walnut Creek for the past four years, opened the new office. The new firm will operate primarily in the Concord, Walnut Creek and Pleasant Hill areas. Kendall is a former director of the California Real Estate Association and is presently a director of the Contra Costa Real Estate Board.

1200 Lakeshore overlooking LakeMerritt CLASSIFIED DISPLAY CLASSIFIED DISPLAY sky room and social center atop observation roof; Vi acre landscaped Special invitation from 1200 Lake-shore new sky rise lease apartments. Models opening in August. entire East Bay, San Francisco and environs; spacious rooms with more total square footage than most suburban homes; I Iotpoint electric kitchens with all the built-ins you'd expect plus some nice surprises (like large pliances, fixtures and appointments to indulge your every whim and fancy. These advance-design apartments are available on the 23rd, 24th and 25th floors in 2 or 3 bedroom units. 1200 Lakeshore model apartments will not open to the general public until August.

(Occupancy approxi-. mately December 1966.) Telephone 834-1200 for appointment right now if you are interested in exploring this unusual opportunity. park-like setting on fourth floor roof for sun and conversation; closed circuit TV to each apartment monitors lobby entrance 24 hours a one of many tenant-security features being offered at 1200 Lakeshore. Rare opportunity to personalize a lease-apartment in the decor of your choice. Color it, paper it, carpet it, fuss with until you achieve the total desired effect.

Let yourself go. Bring along your interior designer or use ours. Even certain room changes are still possible if you act now. HE OHDT double ovens in 50 of the apartments); cabinets in glowing wpod-type grains of light Kashmir French walnut, or Gothic oak with roller bearings, self-closing drawers; uniformed doorman service; Park Avenue style lobby with elegant appointments; adult height basins with triple mirrors' in bathrooms; music piped into social centers, lobby, elevators and roof gardens; beautiful TO DIABlo See Danville About 1200 Lakeshore: Fabulous one, two and three bedroom apartments with lV, 2 and 2'i baths; private decks, seven feet wide and up to sixty feet long with views of the 1200 Lakeshorq on Lake Merritt 834-1200 Oakland Coordinate all colors, fabrics, textures, floor coverings, draperies, ap- Town Country estates. An extraordinary view from luxury homes, one-third acre sites and closeness to full convenience shopping in downtown Danville.

Combine these features with a fast freeway commute and you'll find no finer, lovelier place livp If vou can afford $40,000 or more, you must see Town Country. Move In now to a beautiful 3 or 4 bed- room home or custom Duna wun one oi our custom builders. Underground utilities, TV Cable vision-9 channel, street lights. Leave freeway at San Ramon Valley Blvd. right turn to entry sign just one minute from freeway.

Open daily from 1 P.M. Write for DANVILLE ft Cmlra Estates Ha? REALTOR ANDERSON 2051 Mt. Diablo Blvd. Wlnut Creek 934-9321.