Samuel A. Finz, former deputy county executive of Fairfax County, has been elected president of the local Condominium Developers Association. He said this week that the group is seeking a "balanced understanding" of the condominium ownnership trend in residential real estate.

Finz, now a vice president of International Developers Inc., said: "A moratorium against renting would be just as valid as the (District) moratorium we have against condominium conversion -- unless we are prepared to accept a radical change in the definition of property ownership in America."

Other officers of the developers group are George Sebsow of Delta Development Corp., Joseph A. Klea of the Charles E. Smith Companies and Ronald Levine of Watergate Developments Inc.

Finz said that residents leased or purchased 70 percent of the 1,684 Parkfairfax rental units that IDI recently converted to condo ownership in a rehabilitation program. "In today's market, condominium and cooperative housing offer the lowest priced conventional shelter available and are the last hope of ownership for many buyers," he added.

Additionally, the National Association of Condominium and Cooperative Housing has been organized to represent developer views. Now based in Chicago under acting executive director George Vavoulis, the association plans to open a Washington office.