Gump & Ayers Real Estate Inc. has opened a new residential real estate officein the Excelsior Hotel in Provo, in the same location where the company has maintained a commercial office managed by Bob Karpowitz for two years.

Jerry Floor, G&A president, said the new office manager, Terry C. Harward, has completed $325,000 in sales and nearly $1 million in listings in the short time the new office has been open.Floor said this is a good time to open a Provo office because of the improvement in the residential real estate market, new issues of state money at 8 3/4 percent and plenty of people looking for new homes.

Harward has been a member of the Utah County Board of Realtors Million Dollar Club for three consecutive years. He has a bachelor's degree in business management, marketing and statistics from Brigham Young University and formerly worked for Crossland Mortgage and Gardner & Associates.