Path: bloom-picayune.mit.edu!snorkelwacker.mit.edu!news.media.mit.edu!americast.com!americast.com!usa-post Newsgroups: usa-today.real From: usa-post@AmeriCast.Com Organization: American Cybercasting Approved: usa-post@AmeriCast.com Subject: real Tue, Jun 23 1992 Date: Tue, 23 Jun 92 05:14:12 EDT Message-ID: 06-23 0000 DECISIONLINE: Real Estate USA TODAY Update June 23, 1992 Source: USA TODAY:Gannett National Information Network SBA, DISASTER FUNDING INCREASED: President Bush Monday approved additional funding for three U.S. Small Business Administration loan programs. SBA loan guarantee authority will increase by $1.45 billion, to about $6 billion for fiscal year 1992. Bush also approved up to $500 million in direct disaster loans to help reconstruct businesses and homes damaged in the Los Angeles riots in April. CONSTRUCTION OUTLOOK DIM: The U.S. construction industry's suffering is likely to continue, says the the latest Dun & Bradstreet survey of 200 construction firms. Depressed conditions persist despite strong showings in residential construction and infrastructure projects, says Douglas P. Handler, manager of econometric analysis for Dun & Bradstreet. TIME IS RIGHT FOR VACATION HOME: Now could be the time to purchase a vacation home, says the July issue of Money magazine. Prices are as much as 30% off their mid-1980s peaks in some areas. Some of the best values are in McCall, Idaho; Flathead Valley, Mont.; Hayward, Wis.; Sunset Beach, N.C.; Colorado River Communities, Ariz.; Pineywoods, Texas; Davis, W.Va., according to Money and Century 21 Realtors. CALIF. NOT A RELOCATION CHOICE: California ranks low and Los Angeles isn't even considered a competitor by corporate executives reviewing potential relocation sites nationwide, says a new survey. Primary reason: High business costs, a dominant factor in relocation choices, says Steven Friedman, West Regional Director, Real Estate Advisory Services for Ernst & Young, which conducted the survey.. SUBURBAN OFFICE DEMAND GROWS: Suburban office space in California will experience greater demand than urban office space, according to a survey conducted by Ernst & Young and the International Association of Corporate Real Estate Executives. Most respondents in the survey favored South Orange County for office facilities. N.H. SEES IMPROVED HOME SALES: New Hampshire homes sales for January through March were up 50% from the same period in 1991, say real estate agents. Cited for the improved sales was a lower average home price, which fell to $108,822 in April, from $142,278 in 1988, and lower interest rates. FIRM SEEKS MANUFACTURING SPACE: Canton Industrial Corp., based in Salt Lake City, is seeking former manufacturing facilities ranging in size from 100,000 square feet to one million square feet or larger to promote a new recycling concept, the firm announced Monday. CIC is presently seeking at least 15 regional recycling sites. Rail and highway accessibility is a must, the company says. COLORADO QUARRY OPPOSED: The Jefferson County (Colorado) Commission will decide Tuesday whether to allow a developer to build a 1,855-acre gravel quarry in Clear Creek Canyon. The plan is opposed by environmentalists and neighbors who fear noise, air and water pollution and loss of wildlife. PISECO AIRPORT BILL PASSES: The New York Assembly Monday passed a bill to transfer of about 50 acres of state-owned Adirondack forest land to the town of Arietta for expansion of the Piseco Airport. In exchange, the state will receive 82 acres of forest land from the the town for addition to the Adirondack preserve. FIXED-RATE MORTGAGES DROP: The rates for 30-year fixed-rate mortgages from the Federal Home Loan Mortgage Corp. were listed at 8.48% Monday, down from 8.54% Thursday and down from 8.54% the week before. They were at 9.65% a year ago. For 30-year adjustable-rate mortgages, the rates were 5.84%, down from 5.90% Thursday and down from 5.90% the week before. A year ago they were at 7.24%. ARM INDEXES DECLINE: The one-year Treasury ARM index rates were listed at 4.12% Monday, down from 4.18% Thursday and down from 4.18% the week before. A year ago they were at 6.37%. For the 11th District ARM index, rates were at 5.427%, unchanged from Thursday and unchanged from the week before. A year ago they were at 7.501%. T-BONDS CLIMB: Treasury security rates for the 30-year bonds showed an increase Monday, listing at 7.84%. That's up 0.02 from rates of 7.82% Thursday but down 0.01 from 7.85% the week before. A year ago T-bonds were at 8.51%. Real Estate Editor: Christopher Goldthwaite. (1-919-855-3491) Making copies of USA TODAY Update (Copyright, 1992) for further distribution violates federal law. This article is copyright 1992 Gannett News Service. Redistribution to other sites is not permitted except by arrangement with American Cybercasting Corporation. For more information, send-email to usa@AmeriCast.COM