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Show WHATS YOUR PROBLEM REVIEW, , Mr. Meltzer On by Bernard C. Meltzer Real-Estat- cent, but Recent federal monetary regulations have resulted In a scarcity of mortgage funds. The results are higher rates and shorter terms. The effect Is now being translated into a weakening of the real estate market. Many readers ask, Why am I being offered less for my home today than several months ago? est Dear Mr. Meltzer: less a 20-ye- ar, the bank buys it for than par. For example, 6 per cent, $10,000 6.78 7.06 7.34 Dear Mr. Meltzer: I must get some privacy for my backyard. The neighbors and children continually use it as if it were a for a short-c- ut main street. I think a redwood basket weave fence would be attractive. What would such a fence cost? Mr. W. P. payment and death, the actual effective rate received by die bank is even larger. For your information the following table gives effective interest rates 6 per emit morton a gage at various discounts: Discount Effective Interest Rate 1 6.13 Answer: A redwood fence four-fo- ot high costs about $1.90 per lineal foot. A six-fo- ot high fence costs about $2.65 per lineal-foo-t. The installation cost for 6.51 $.80 to yes- terday, he told me that because of the disturbed mortgage market he doubted if the house would now bring anymore than $17,500. What has the mortgage market to do with the price of my home? Is the agent telling me a fib or is he trying to take advantage of me? Mr. D. U. OHO Popular Basket Weave FENCING $1 per lineal foot. x4"-- 8 $1.50 ea. rROY SEZ Do-It-Yoursel- fers CEDAR FENCE JL Cedar SI. 30 each 4x4-- 8 CLASSICAL BRONZE SCULPTURE SIGNED "BARYE SOUTHEAST BUILDERS CC 2189 McClelland SIIDDI V I WU Sugar House Period & Style French Furniture Illuminated Sculpture Objets d Art Weekdays 659 E. 6-- 9 p.m. Saturday 21st SO. 484-788- 6 p.m. SOUTH OF GRANITE FURNITURE 484-441- 9 LCMRojORob 8 W S MBF Jr f r I8 f , - A. ' I 'v S' j. , ! m w t TV- I $15,950 $20,000 Newly redecorated 8 room tri-lenear 11th East and 45th South. 4 bedrooms, 2 baths, carpeted living room with fireplace, applianced kitchen and double garage. Extra large landscaped lot with fruit trees. This is an excellent value. vel of -- hand trick known as discount--. The interest rate re cited in ft. posts 17c each ing the mortgage payment is the limit of the buyers ability to pay, then the highest mortgage that can be sustained based upon the less now, favorable terms is $13,000. Therefore, the most the buyer can now pay for the house is $17,000 instead of $20,000. -- ft. Hn. Wide Grape Stake comparable Answer: It's done by a neat 10 58"x8" in term is about 20 years at 7 per cent. Assum- slight O be of service to you mortgage Dear Mr. Meltzer: Tm an attorney and I dont understand how a 6 per cent mortgage become 7 per cent. Ive just come from lunch with a banker friend and he told me that his institution is now getting 7 per cent on mortgages. Yet 1 know the maximum legal rate in our state is 6 per cent. I know it's being done legally, but how! Please tell me. Anonymous Store linens unstarched; the starch rots them. TODAY FOR THE BEST PRICES -- We want to 5-- 34 If the mortgage market returns to normal quickly, the real estate market effect will hardly be noticeable. However, if the disturbed mortgage market continues, millions of property owners will soon become aware that recent monetary regulations by the Federal Reserve Bank has caused a substantial decrease in the market value of their homes. repeat US gage have an important bearing on the price of a house. For example, assume a typical paybuyer has a $4, 000-doment for the above house which requires a $16,000 mortgage. Six months ago the buyer could have obtained a per cent mortgage in many areas. Therefore, his mortgage payments would have been $100.66 per month. the re- CARLOAD PURCHASE! The explanation lies in the fact that the terms of the mort- Today If the move the stain completely, Contractors and Answer: In this instance the real estate agent has an excellent understanding of real estate markets. The extreme scarcity of mortgage funds which has recently been created by governmental regulations literally has decreased the effective price for millions of home owners. 25-ye- ar, stain will disappear. first application doesnt basket-wea- ve fering called in die same agent e 7-- 20-ye- ar, When I was thinking of ofmy bouse for sale six months ago, the real estate agent told me that it would sell for about $20, (MX). When I To remove a scorch from linen or cotton at ironing time, dip a piece of old cloth in peroxide, lay it on the scorched part and rub with a hot iron. If the scorch is not too deeft every trace of the 6 8 10 mortgage for which the bank pays out $9,250 (a l2 per cent discount) will yield an effective rate of about 7 per cent. Since mortgages are not held to maturity, but are often paid off due to a sale, pre- July 28. 1966 EP Charming 6 room rambler near 41st So. and 28th East. 16 x 21 ft. carpeted living room with fireplace. Excellent dining area. 2 large bedrooms, baths. Full basement with family room, professionally landscaped yard with patio and double garage. $55,000 Ultra modern 6 room white brick rambler in Cottonwood. Rock entry, 18 x 26 ft. living room, formal dining room. Three spacious bedrooms, baths, attractive family room in Basement. Attached double garage. This home is luxuriously carpeted and draped throughout. 12 2-- 12 C2 D- - EV 1321 East 33rd South UU TT G 1X3 CALL . V- - ' W. $ 484-859- v 6 |