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June 10, 1994 - Image 58

Resource type:
Text
Publication:
The Detroit Jewish News, 1994-06-10

Disclaimer: Computer generated plain text may have errors. Read more about this.

12 MONTH CERTIFICATE

4.25W0
4.31%

First
Rate
Rates.

INTEREST
RATE

A.P.Y./*

These are fixed rate
certificates of deposit
that are insured by
the Federal Deposit
Insurance Corporation
(FDIC). A minimum
opening deposit and
balance of $500.00
is required to obtain
the stated A.P.Y.

24 MONTH CERTIFICATE

5.00%
5.09%

INTEREST
RATE

A.P.Y./

Call 338-7700
352-7700

60 MONTH CERTIFICATE

5.25%
5.35%

INTEREST
RATE

AA.P.Y./'kf

FIRST SECURITy

SAviNc,s BANk

"First in Service"

Main Office
2600 Telegraph Rd.
Bloomfield Hills. MI 48302

* Annual percentage yield when compounded quarterly. Rate is accurate as of 6/10/94.

Penalty for early withdrawal from certificate accounts may be assessed.

EQUAL HOUSING

LENDER

FATHER'S PAY IS JUNE 19th

Dads are Special

CREATE A TIE PATES:

(No Age Limit)

Saturday, June 11 — Noon to 6 p.m.

THE DETROIT J EWISFf NEWS

Thursday, June 16 — 4 p.m. to 7 p.m.

54

SHOP PING LIST F- CoR. 1=ATH1 ~ R'S CLAY

III

Jogging Suits $40



Walking Shorts from 120






Casual Pants from $30

Short Sleeve Press Shirts form $20

Short Sleeve Sport Shirts from $10

Belts and Braces from $17.50

Don't forget to look at our large selection of ties, socks, belts, jewelry,
forma wear and accessories ALWAYS 20-05% OFF RETAIL

19011 W. Ten Mile Road • Southfield, MI 48075

(Between Southfield and Evergreen)

Men's furnishings and accessories

41111 ■

Factors point to a good year in the
residential real estate market.

R.J. KING SPECIAL TO THE JEWISH NEWS

B

ecause of an improving and the upcoming property trans-
economy, relatively low in- fer tax (it will take effect Jan. 1,
terest rates, a surge in au- 1995) will have an impact on the
tomotive sales and lower construction industry, but we
property taxes, the residential don't know how large at this
real estate market in the Detroit point. We hope it will be mini-
metropolitan area should have mal," said Robert R. Jones, pres-
a solid year, especially in single- ident of BASM and a developer
family homes in outlying com- based in West Bloomfield.
munities, developers say.
Mr. Jones said builders are
"We're excited about the concerned about the volatility of
prospects. Orders for new homes lumber prices and supply. With
are up 40 percent this year over the Clinton administration push-
last and traffic has doubled in our ing more environmental laws to
model homes," said Scott Jacob- preserve natural resources, the
son, president of the S.R. Jacob- lumber used in an average home
son
. Development Corp. in is up $3,000 over a year ago, he
mg am rarms, wnicn nas
built over 1,000 homes and
condominiums since 1978.
"The trend in the market is
people are buying bigger.
We've seen a resurgence in the
upper end as executives start
getting bonuses again," said
Richard Komer, president of
the Wineman & Komer Build-
ing Co. in Southfield, which
has built more than 500
homes and condos since 1976.
Real estate agents expect
the March tax vote on Pro-
posal A to increase sales.
Michigan voters decided to re-
duce property taxes 65 percent

Single-Family Residential
Building Permits
For Metropolitan Detroit

(810) 352-1080

Scott Jacobson: "Excited about

prospects."

said.
"While the single-family mar-
ket is on the rebound, multi-farn-
ily construction is close to hitting
bottom," said David Seiders,
chief economist for the Nation-
al Association of Home Builders
in Washington, D.C.
"We're still paying for the
overbuilding mistakes of the
mid-'80s," Mr. Seiders said about
SOURCE: Builders Association of the multi-family slowdown.
Southeastern Michigan, Farm-
In other news, BASM report-
ington Hills.
ed the latest luxury features
within homes include master-
on average in return for increased bedroom suites, fitness areas,
levies on consumer goods, ciga- home offices, combination
rettes and home sales.
whirlpool showers and sophisti-
According to the Builders As- cated technology for security and
sociation of Southeastern Michi- home entertainment systems.
gan (BASM) in Farmington Hills,
"When we go into older homes
single-family home permits are and remodel, the areas that peo-
projected to rise 10 percent in 1994 ple see as inadequate are the
over last year. Total single-family master bathroom and closet
permits in BASM's seven-county space. In new homes, those areas,
region were 11,819 last year as along with the master bedroom,
compared to 11,716 in 1992.
receive a great deal of attention,"
There are some dark clouds, said Alfred Tobocman, of Toboc-
however.
man Architect and Custom
"We know rising lumber prices Builders in West Bloomfield.

1. Canton Township — 539
2. Macomb Township — 430
3. Troy — 412
4. Shelby Township — 374
5. Orion Township — 371
6. Novi — 362
7. Sterling Heights — 312
8. Waterford Township — 310
9. Clinton Township — 296
10.Washington Township — 262

For only $15.00 The Shirt Pox will supply
the tie, paints and supervision so that
you may create a tie for Dad.

Perry Ellis Dress Shirts
white blended $23 white all cotton $27

Home Sweet Home

January to December .1993
(latest figures available)

And their ties should be too!



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