Newly published by Dow Jones, "The Complete Book of Home Buying" ($12.95; 342 pp.), has an advance sale of 10,000 copies, according to co-author Michael Sumichrast. The chief economist of the National Association of Home Builders and Ronald G. Shafer, an editor with the Wall Street Journal and a former housing reporter, point out that the best buys in houses are sometimes those you might want to run away from after a first visit. A major chapter discusses mortgage choices and procedures . . . . The Big Sky (Mont.) dream house of the late Chet Huntley and his widow (former Washington weather telecaster Tippi Stringer) reportedly has been sold for $460,000 by Previews Inc. A couple in Greenwich, Conn., bought the house.

Group One Real Estate Inc., a local franchise with nine member broker firms is nearby Maryland, has marked its second anniversary. Organizer and President Ben Dieudonne said that the program provides an alterntive to large, nationally organized franchise affiliations. Members pay an initial fee and a flat monthly fee instead of a percentage of commissions. The central office is at 18 University Blvd. E. in Silver Spring . . . . Frank S. Phillips Inc., a downtown Washington real estate brokerage and mortgage banking firm, recently marked its 50th anniversary and also introduced a new Phillips-built dwelling at 5228 Loughboro Rd.NW.

Jesse L. Peck, president of the Montgomery County Board of Realtors, said activation of the board's new computer system has been delayed but the new service will be available to members by the middle of this month. One problem, according to Peck, was that a truck overturned, damaging components during shipment from St. Louis to Kensington. Meanwhile, Peck said members get picture books of listed properties and printed descriptions of houses available for sale under the multiple listing service.