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128 May 16, 1991 Grosse Pointe News * * edmund t. AHEE jewelry co. edmund t. AHEE jewelers has the most outstanding collection of diamond engagement and diamond wedding rings you'll ever see. Let their GIA graduate gemologists and sales professionals assist you in choosing the perfect ring at a very affordable price. All of their rings are made in their own workroom and they can also custom design and craft a ring to your specifications. Visit edmund t. AllEE jewelers today. NEW HOURS: Monday through Saturday 10:00a.m. to 6:00 p.m., Thursday till 8:00 p.m. ... at 20139 Mack Avenue at Oxford, between 7 & 8 Mile Roads in Grosse Pointe Woods,886-4600. * * A * Fun time - sun time. 1bys fill the shelves at The School Bell... 17047 Kercheval inthe-Village. Safe and sturdy ~ sponge balls and gliders are a special treat. * * * We invite you to join WILD us for our GRAND WINGS OPENING this Saturday, May 18th between 10:00 a.m. and 6:00 p.m. Refreshments will be served. Be sure to stop by as we are looking forward to seeing you and showing you our NEW STORE ... at 16844 Kercheval, 885- 4001. * * * i! ' '" * METRO SKI & SPORTS Stay home this weekend. Have a lot of fun in your own backyard playing volleyball, croquet, bocci-ball, or horse shoes. You'reneuer too old or too young tojoin in these games. It really adds to the family barbecue to have a game on hand. Also get your Skin So-Soft oil or lotion right here ... at 20343 Mack Avenue (at Country Club) 884-5660. Finally - it's * that time again. -- The Once A Year Special -- , NOW 4711 Original Eau De Cologne is on SALE - Only $21.00 (reg. $32.00).Perfect time to stock up for yourself or for a gift for someone special ... at the NOTRE DAME PHARMACY... 16926 Kercheval in-the- Village, 885- 21M. • • * THE WOOL &eTHE FLOSS Needlepoint and knitting classes forming. Stitching with Ann on Saturday mornings for experienced needlepointers. Beginning knitting and finiwng your knitted garments both with Jean. To register stop in or call 882-9110. Summer classes forming as requested... at 397 Fisher Road, Grosse Pointe, 882-9110. * :...... ANTIQUES in tIrt Pointe. f/, Belleek China, Indian ~ '/ artifact, Western, Victorian ..J.
Real Estate By RoMId J..... Staff Wnter The dream of every man woman and child is to own their own home. But with prices skyrocketing, the ~tion firmly entrenched in a recession and less government funds available to get you started, it's become an impoesible dream for DlO8t people. Or has it? Several state and national studies show that with a little planning, just about anyone can own a home. A recent National Association of Realtors study said that despite increaaes in home costs, most families in the United States are making enough money to afford a home. The January Houaing A1ford. ability Index wu 114.4, one of the highest recorded. The index measures the ability of a typical family to pun:hue a median.priced resale home. It means that in January (the last month figures are available) a family earning the national median income of $35,700, had 114.4 percent of the income needed to qualify for conventional fmancing covering 80 percent of a home priced at $94,200, the median existing-home price in January. Got that? What it means in other Ian. guage is that a family earning $20,000 would have enough money to qualify for a home valued at $60,300, using a 20 percent down payment and a $48,200 loan. A family with a $50,000 income would qualify for a $150,600 home using a 20 percent down payment and a $120,500 loan. But people in the Detroit area have an even better chance than that, according to another study by the NAR. Using census data that shows median household in. the root ball. When planting a balled and burlappecl tree, place the root ball in the hole, and remove any string or twine from around the trunk. Peel the bur. 't'l,'{"",~ lassifie Grosse Pointe News • May 16, 1991 comes are higher in the trio county area than they are else. where in the country, it stands to reason that famihes have even more money to invest in a house. So, how do you know what you can afford before you go out looking? Begin with this rule of thumb: Your monthly housing expenses - including mortgage, utilities, taxes and insurance - should not exceed 28 percent of your groes income. So if you make $50,000 a year, you should be able to spend $1,166 a month on housing. How much of that amount will be an actual mortgage pay. ment depends on the size of the loan and the interest rate. The down payment is generally between 5 and 25 percent. Say you fall in love with an $80,000 hOUll8 and are able to make a $10,000 down payment with a 3O-year fixed-rate mortlap part way back 80 it will be buried u the hole is filled. With container-grown plants, remove the plant from the con. tainer. If you see roots circling on the cut side of the root ball, take a sharp knife and make two or three shallow cuts, from the top to the bottom of the ball, to encourage new roots which will grow out into your soil. Make sure that the root col. lar (the place where the tree's main stem meets the roots) is slightly above the surrounding ~. !-lat, bacldUi the hole. If you are ,:a.nting in BOil composed of bee", _ or light sand, you c:an nUx the becldUl soil with up to one-third organic matter, gage of $70,000 at 10 percent. That will require a payment of $613 a month. Add monthly home expenses and remember, you must stay below that magic 28 percent. Any lending institution will make similar calculations. Well, you've figured. that out, now you have to figure out where the money is going to come from. Loans come in all ' j shapes and sizes and it's smart to determine which is best for you before getting into a con. tract. I Fixed.rate mortgages are usually offered for a term of either 15 or 30 years. They have a monthly payment amount that will remain the same for the term of the mortgage. Each payment includes a portion of the principal and intereIt on the loan with the principal amount applied per payment increasing u the loan is paid off. such as peat or compost. Lightly pack the soil into place around the tree. Spread a 2- to 3-ineh layer of mulch in Adjustable rate mortgages are more complex. They begin at a glven interest rate, but the terms fluctuate penodically. There is usually a cap on the amount of fluctuation that is tied to an indicator such as the the entire area. However, be BUre to keep the mulch 6 to 8 inches from the tree trunk. Stake the tree with discarded Trees benefit environment Trees - graceful, serene, awe-inspiring and enduring - do more than make the world a more beautiful place to live, according to the American Association of Nurserymen. They also help the environment and have an impact on our daily lives. Did you know that treeB: • clean the air, reducmg certain pollutants providing oxygen? • lower our energy bills through the cooling shade they provide in the summer and the in.."'U1ating warmth they provide in winter? • provide shelter for wildlife? • slow rainfall runoff, preventing soil erosion and leseening the pollution in our streams and riven? • reduce Bt.ess in the work place and hasten the recov. ery of hospital patients? Real Estate Resource Classified AdvertISing Want to buy a home? Check your affordability index first Welcome summer by planting a tree - What better way to welcome the bright colors and the fresh smells of spring than by planting a tree? It may sound like a big p~ ject, but if' you follow the steps recommended by the American Association c:L Nurserymen, you will soon be watching your little bit of spring flourish into a luting treasure for all Bea8OD8. First, locate a clear, open site for the tree. There should be ample room for the tree to form its root system. Your site should also allow for good drainage. Next, 100een and blend the top 6 to 10 incheI ~ the IDi1 b! ::e:~p~~~l:t.~ rrr: . inches wider than the width of U.S. Treasury Bill index. But don't forget about FHA and VA loans. You might quat. Ify for these special programs. The Federal Housing Admin. istratlOn insures loana which are originated by participating institutions. You pay an insurance fee, either at closing (It as part of the monthly payment. One advantage to these 108lUlis ~(; [that, because they're insured, the lender may accept 8 lower. than.nonna! down payment. The Veteran's Admini8tnI. tion also offers insured 1oe.DIl which are usually le8B expensive due to restrictions Oft pr0- cessing. The restriction beinl. of course, that only military veterans qualify. Once you buy your houae, then you can start reaping the rewards of homeowners - like breaks on taxes. But that's another story. just for the green of it rubber inner tubes for the ftnt six months of its life. This will give the tree support and allow it to flex gently in the wiDd. Drive the stakes into solid IOi1 at the bottom c:L the hole 800Il after you have set the tree into place. By placing the Italr.ee while the roots are still visible, you can avoid potential root damage. Water the tree thoroucb11, but do not flood the hole. Water twice a week during dry peri_ ods. To avoid over-watering, check to see if the soil is moi8t " inches down. If it .. the tree has enough water and does not. need to be watered at this time. Your local garden center can offer more information to plant a tree. tIC 5C on bow HARBOR PLACE The Condominium Lifestyle for Grosse Pointe POINTE PLAZA The Address Speaks For Itself , $ ',t : » ,. " .. . ....' ::.: • Cluster Homes with first floor Master Suite starting at $259,000 • Luxurious Townhomes starting at $425,000 • Premium One Floor Terrace Homes starting at $360,000 • Boatslips starting at $30,000 Located on Lake St Clair at 9 Mile and Jefferson Visit our Sales Office and Model from 1 - 5 p.m. daily or call TH~: BLAKE CQ\1D\NY Office 881.6100 Model 776.8115 To visit the site enter through Riviera Terrace 100 yds. North of Nine Mile Road, just off Jefferson Developer of Dodge Place, Windwood Pointe Scherbrook and Harbor Place In the heart of the Grosse Pointes, stands Pointe Plaza. This unique business environment is recognized as one of the area's most distinguished addresses. Contemporary, yet classic. Pointe Plaza's exceptIOnal deSign is a setting of qUiet beauty With Its premiumquality finishes of imported marble and polished brass Stunning in its elegance and good taste, Pointe Plaza combifle~ 5-story executive office bUlldings, upscale shops and dmmg, ard extensive covered and reserved parking. Located at the promment mtersectlon of Moross and Mack Avenue, and adjacent to the renowned 5t John Hospital Medical Center, Pointe Plaza offers over 120,000 square feet of distinctive office space. The convenience of workmg in your neighborhood and the easy access from 1-94 and 1-696 allows this dynamic location to serve businesses and shoppers from the immediate areas as well as the surrounding areas of Metropolitan Detroit who have the desire to create a golden opportunity for your business. Space IS now available from 1,000 square feet. We inVite your inqUIries. Pomte Plaza IS a joint venture of Schostak Brothers and the St. Clair Health Corporation . Call [)Qv,d S Grttnt. Vret PrtSldtnt III (313) 262-1000. ______________ ........ __ • _ ....... 1lI.. ..... MICROGRAPtiIC & ELECTRONIC IMAGE CONVERSION SERVICES. SYSTEMS. CONSULTATION -~--._... ~ - • - -----------------~ 804 S HAMIL TON PHONE (517) 792 093-4 1 (800) 9\18.3-456
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