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Show Page 10 - THE HERALD. Provo. Utah, Friday. September 7. 19&4 ' Utah Valley Home Show With New Mortgage Financing f I own rne onouia op j auyib The Lineup: Dester & Luck ... Parkplace A Destei & Luck Inc entry in the 1964 I tah Valley Parade of Homes is a townhouse development called Parkplace, reminiscent of the colonial rowhouses of Virginia and located along Orem Boulevard Parkplace is part of an expanded development concept in 1981 known as The Colonies What began as a project expanded to 76 units, including Parkplace More than half of Parkplace s 37 units have been sold The Parkplace tuwnhouses are attached units in 7- or buildings Each townhouse offers approximately $1,470 square feet of space that includes a formal dining area, large living room with Colonial-styl- e fireplace, a breakfast nook, and two-ca- r garage The home show entry is the "Charlotte" style townhouse. Interiors are individually styled and feature full basements and plush carpeting throughout except for the oak floor entryway over a vaulted ceiling over a Colonial-stylstaircase Interior decor also includes Colonial doors, Colonial crown moulding and chair railing, cultured marble vanity tops in the 1 1 2 baths. The units feature Cedar shake roofs, brick exteiior. dishwasher, energy-efficiew indows, air conditioning, and private-fence- d backyards in addition to close proximity to three central parks in the housing project The townhouses sell for approximately $72 400 Davies-Hansen...Westvie- Terrace w Westview Terrace home in southwest Orem is the Davies-Hanseentry I'tah Valley Parade of Homes this year Westview Terrace is a planned subdivision development at 124 W Westview Dr (1925 South, made up of customized residences for single families. The home show entry is one of about 26 two-storhomes that have been completed by developer Lee Davis The builders. Steve Davies and Robert Hansen, have constructed custom homes in the Salt Lake and I'tah valleys for ten years, concentrating on function, efficient use of space, and cost and energy efficiency The showcase home features a second story master bedroom with a two-sin- k bath and walk-icloset with built-i- n cabinets and shoe racks, plus three more bedrooms with a compartmentalized bath to complete the upper living area There is also a front office area, living and dining rooms with high ceilings and decorative trim, a spacious informal eating area that overlooks a rear patio, plus an island bar in the kitchen which features white oak cabinets. A large utility room features spacious cabinets and lots of counterspace to meet the needs of a large family. Entry into the home is through a vaulted area featuring custom-turne- d oak railings. The Westview Terrace homes, offering about 3,100 square feet of space and unfinished or finished basements, are priced between $125,000 and $250,000, depending on the amount of customizing. A in the Herbert & Associates.. .View Cottage One show house developed by Herbert & Associates Real Estate will take those who come to see it to "Nob Hill," but home show goers will not have to venture to San Francisco's historic hill, because this "Nob Hill" is in American Fork. Located in the the Country View subdivision, these homes "Style & Pizzaz" says Herbert & Associates Real Estate. The home called the Contry View Cottage is a stylish rambler with 975 square feet of home area. The main floor includes an entry way, formal living room with and a fireplace country styled kitchen with plenty of cabinets and counter-- ' top space. Bedrooms are large and spacious with rooms for night stands & dressers and other bedroom furniture. With a full, unfinished basement there is room to expand by adding more bedrooms, a bath, family room or storage areas. There is also a large double and the home's is exterior brick and aluminum. garage This $61,900 Country View Cottage is located across the street from a two- acre park with a view of the mountains. And it is within walking distance to schools, tennis courts, golf course and a swimming pool. To see this home go to 1200 North and 150 West in American Fork and get on Country View Lane that is located there. ; , ' ' I Thomas Biessinger...The Yearling new housing project that is part of the 1984 Utah Valley Parade of Homes is the Deerhaven Estates planned unit development at 1440 S. 1401 E., Provo. The Deerhaven cluster is comprised of luxurious two-stor-y townhouses surrounding the Bicentennial Park and offering a mountain view stretching from Mt. Nebo to Mt. Timpanogos. There is also a clubhouse and recreation building that features a large, private dining and kitchen facility, an exercise l. room, and sauna and Each of the 30 buildings contains four units with three bedrooms, 2 12 baths, a balcony, woodburning stove, standard equipment, carpeting and vinyl floor covering, intercom system, plus double-covere- d carports with concrete floor and two assigned parking spaces per unit. The buildings are all brick with aluminum trim, designed with a gabled roof to capture the country atmosphere of a mountain retreat Each building is done in a different color of brick, with insulated walls and ceilings, central gas heat and central air conditioning. The main level of the townhouses boasts a living room with a bay window, an oak kitchen with modern appliances, laundry area with adjoining powder room, storage room and an enclosed backyard patio accessed by sliding glass doors from a dining room. The units sell for $56,950 with less than $3,000 down. Headquarters for Deerhaven Estates is at 1455 S. State St., Provo. The housing project is entered in the home show under the title. "The Yearling," and is coordinated by Thomas W. Biesinger. Decorations are by Laraine Biesinger. A ' Mitchell Dean Homes.. .Lakeridge Estates Mitchell Dean Homes, a homebuilding company, enters Lakeridge Estates in this year's home show. This condominium project is located at 970 W. Center in Orem. Builders point to the view of Utah Lake and easy freeway access as drawing cards to the project. units are available in two-stor-y and single Two, three and level models. The two-levunits have 1,350 square feet of finished area and the one level 1,100 square feet. Cedar shake shingles cover the buildings of brick exterior with stucco. Each unit has a fireplace, vaulted ceilings, private enclosed garages and private fenced yards, full unfinished basement and upgraded carpet. Kitchens sport oak cabinets and custom formica with full backsplashes. The two-levunits have a private balcony off the master bedroom. The entire project shares a clubhouse, picnic area and playground. The FHA and VA approved units sell for $62,900 up to $67,500. V J - I I ff". JL lM. im By GRAEME BROWNING LPI Business Writer il'Pli CHICAGO the - Findinghome best mortgage for your new these days is not a job for the lazy or the faint of heart. In the 1950s, most home buyers plunked down 20 percent of the price and signed up to pay off the rest over 30 years at a fixed interest rate. In the '80s, fixed and rate mortgages are scarce the alternatives can be bewildering. Adjustable rate mortgages now s account for almost of the market. Balloon mortgages are still around, as are the wraparounds and real estate contracts that boomed during the 1979 to 1982 "creative financing" craze. If you do happen upon a fixed-rat- e mortgage, it is likely to be a "short termer" of 15 to 20 years' duration. One Chicago builder is even offering a loan. As a buyer, you must know what you need and be willing to search hard for it. There are no "standardized" mortgages and no three-fourth- zero-intere- st disinterested organization that keeps a running list of what is available. Above all, you should be aware that the biggest problem facing home buyers is not accessible mortgages but affordable housing. Until the late 1970s, federal regu lation of savings institutions, the major lenders, helped keep real estate prices reasonable. With deregulation, "we have radically changed the proportion of households in the United States that can buy homes," said Leanne Lachman, president of the Real Estate Research Corp. Even industry professionals do not agree on how to categorize today's mortgages. In general, however, here are the available mortgages, their terms and their pitfalls. Fixed Rate Mortgages mortThe traditional fixed-ratgage lasts 25 or 30 years, with the interest rate set at the beginning of the loan. The first payment is the same as the last payment. At the end of the mortgage, the buyer owns the home outright. Most people think the FRM is "the" mortgage, but its popularity dates back only to the Depression. Before then, most home buyers took balloon mortgages or paid that had to be off within two or three years of purchase. When banks began calling in these balloons after the crash of 1929, and thousands of Americans lost their homes, the federal government stepped in. The Federal Housing Administration developed the fixed-rat- e mortgage as a tool to revitalize e new telecourse to be shown this fall on KUED Channel 7 will take viewers into home and factories to illustrate basic guidelines for planning home interiors that are functional, aesthetically attractive and economical. Offered for three hours credit by the University of Utah's Correspondence Study Department,' "Designing Home Interiors" is by Coastal Community College and Rancho Santiago Community College District of California. The 15 television programs will be aired locally on Saturday s from 12-- 1 p.m., beginning September 29 on Channel 7. Repeats will be shown the following Fridays from 7 a.m. The course will share consumer information essential to the selection of quality furnishings and & Keating Bills With This Special Offer! T.H.L Series Uptol3.2Si.fJt' fUbnts New Horizon Series 'Seasonal 6-- 'TurFhTsTTcoumaT air conditioner C mi $01(01(0 tf i & RECEIVE A COLEMAN HIGH CDD PNC CIIDUATC rrriPirurv i uimnvL i un LrrlUlLHw i I unj Jf Jr HEATING AM COMOmOMNG GROUP Quality All Th v Wnwl .... j On This Fall Cash In Special r Coleman r) 6 T.H.L 93 flj. High Efficiency GAS PARADE OF HOMES SPECIAL $1499 on normal simple change out A $1800 value CFE1EE! 952 E. 100N. Payjon Call 465-924- Lw.... Build It Right" With our Homebuilder's Show, Playhouse Giveaway and Parade of Homes. 8 15 September & 0 - J Hardware MALI ITY Sponsored by: I'lah Yiillc, Homo Riiillci-- Association s UNI VERSITY RADIO ISO 5 Building Supplies Exhibits) UBJIVEf I 4 wnen you buy a Coleman Air Conditioner Show 373-505- PVC Furnace sity Press). H omebuilder's Interesting people make interesting news. If you have a tip, call The City Desk, during business hours. A (40,000 BID) 8-1- We Want People Coupon Quality thai am only cost you less in the iting run Learn how to "Build It Right" September at the University Mall. Meet expert contractors, suppliers and builders. Furnaces Whirlpools Glass Doors Fireplaces Air Conditioning Fencing Insulation Tile (Displays With EXPIRES ir 71 McNaujht I m m mi SOFT WATIR Energy Efftctency Rating featured, among them Carole host and instructor for the series in Winnie Yablonski, a Southern California designer and teacher of home economics at Santa Ana College. Ms. Yablonski along with fellow instructor Carolyn Breeden authored the accompanying study guide that complements the text, Beginnings of Interior Environment by Phyliss S. Allen (Brigham Young Univer- Conditioner Slash Next Winters plans. Interviews with west coast designers and architects will be On-a- "Short termers" offer higher monthly payments in a briefer period (commonly 15 to 20 years) at a lower interest rate (usually about 10 percent). Buyers who can afford them love them, industry observers say. Air Coleman High Efficiency materials for various design Eichen of Fullerton, Susu Kishi-yam- a of Laguna Beach, Peggy Varney Collins and Joan Neville of Newport Beach, Russell Plunder of Los Angeles, and fabric desinger Carol Carson of Rose-mea- taxes, buyers in higher tax brackets may find the traditional FRM attractive. Other buyers may find paving hundreds of thousands of dollars of interest appalling. FRM s, a very reShort-tercent wrinkle on the old formula, decrease that total interest payment dramatically. Summer with Enjoy Cool Comfort This Housing Interiors Topic of TV Show A Since interest payments are deductible from federal income the real estate market. Later, Veterans Administration loans linked the fixed-rat- e mortgage with the "American Dream" in the minds of returning GI s. The FRM means security and stability. The cautious home buyer knows exactly what the payments will be and exactly when they will end. On the' other hand, the FRM locks in an interest rate. If rates fall, the buyer could be stuck with a burdensome monthly payment. In addition, FRMs usually require the buyer to pay a huge amount of interest over the 30 as much as $307,249 on years an $80,000 loan at 16 percent. S MALL 9 |