SUBURBAN CLASSIFIEDS FOR SALE • Home Furnishing. E u Q a XI 9 CO CO UJ FOfl CHRISTMAS toy* from your past Give your favorite person a nostalgic de coration for desk den or wherever you want a unique accent ptece Call Dolls House Antiques 637-6486 * -—E49 -52 CHINA CABINET. French provincial Es- csttent condition Glass doora^ott-wfui*- AH wood $99 cash and carry ASAP Cad 637-8057 or leave message at 655-9205 —£49-51 Musical CONN OftOAM with rhythm system and Lssbe stereo speakers 637-3823 £49-52 WE1SSER BROS, baby Qrand Piano beautiful finish Needs tuning Bench in ducted 467-2053 IA49-49 AntiqueslCrafts CKEJtHV VALLEY spinners sale Dec 5 9-4 Uncktaen House Cazenovta Hand made garments and gtfts C48-49 Miscellaneous SKOWalOBlLE- SKI-DO 1979 needs some work, snowmobile suit Penney s black, size 20 Costs Female • Boroana I mi tan on for size ft*** wool douo'e breasted grey '4-16R black double breasted t4R short tan double breasted 12-'4 short navy double breasted 10-12 Male-wooldresstacket £ears tan J8C Mighty Mac corduroy^ blue (acket f 6 Long gowns sixes 0-10 487 -2053 A49-49 BEAUTIFUL CO STUM made bar <n-> eluding 2 keg cooler »2 foot long Caff 315 -691-4301 C49-49 Estate Jewelry Excellent Prices Paid For Fine Quality and Costume Jewelry Also buying gold, diamonds A art objects &Jr Moore Jewelers 3 W Genesee. Skanea teles 685-6758 S4T 50 ATTN: Office Space Are yo haratssed. hassled, and Lured of working out of your home'' Why not visit our new building at The Market Place. Route 92. Man- this, built especially for you with small, private suites or larger of fices if required, where secreta rial, word processing, duplicat ing, and phone answering ser vice* are available CALL 682- 9746 days. 682-8001 evenings FLASHING ARROW signs now on spe cial Arrowiess modeO starting st $'95 plus dekvery Also LEO computer signs from Id29 Dealer inquiries welcome Reliable Signs t-800 -531 534 1 (nyscan) £*f*~49 NUMEROUS HOUSEHOLF items for sale Check it out 169 West Seneca St Manfaus. N Y Across from HAPPA store Dec 7 AS Sat A Sunday I0-5bothdays == T49-49 KELP Cfc&LN your septic tank the easy way with FX bacteria S8 98 Tree roots removed Drains opened Ask for tree booklet Skaneatefes Supply 16 Fennefl Street Skaneatefes N * '3*5? , S49-49 ROLEX WATCH, oyster case waterproof shock-proof silver face iub>lee bracelet chronometer timed movement S32S new$900 Canefte*8 40pm 479-9689 E49-49 BASEMENT SALE Oec 6 a 7 fn 9-5 Sat 9-4 Girts Clothings sizes Hoh- day dresses coats sweaters & more boys clothes 7 10 boys 24 bicycle dresser baby seat misc Syosseii Lane (off Uncktaen St) 655-4226 C49-49 DRUMS. GUITARS. KEYBOARDS LOW PRICES. FREE CATALOG ALL ACCESSORIES ENDERS MUSIC 682-5164 £49-52 REAL ESTATE Syracuse Securities, Inc. \The Home Mortgage Market\ By Larry Smith THI8 WEEK: Mortfafes for Investors and Rental Property Investment/Rental Property mortgage* are a popular vehicle because the real estate depreciation that investment property affords is the most common tool the average person can employ to shelter a portion of iheir income from taxes For purposes of this arttrle we will divide the available programs between mortgages for 1 2 3 and 4 unit properties and mortgages available for properties containing 5 or more units 1-2-3-4 Family Unit Mortgages These mortgages are the most popular as they pertain to smaller properties that allow the Individual borrower entrance into the real estate investment market Available mortgages are either conventional loans or FHA insured loans Conventional loans are available to investors either for purchase of investment property or refinancing of currently owned rental property Conventional invest ment loans are available either on a fixed rale or an adjustable rate basis Fixed rate loans are highly preferential for Investors as they allow the property owner to fix his monthly cost outlay and therefore set his rents accordingly to generate a positive cash flow Generally speaking, with a conventional loan an investor can borrow 90% of the sale price to purchase investment property Rules regarding refinancing of invest ment property have recently been modified making it quite difficult to do so This should be discussed with your individual lender _ FHA mortgages are also available to investors Generally an FHA mortgage ran be obtained for a total cash investiture of 8 5% of the sale price of an investment property FHA mortgages for refinance of Investment property have recently f5 85) been conditioned so that they are no longer available as a vehicle to take out equity FHA refinance mortgages are still available to reduce current Interest rates or to obtain funds to Improve the rental property A decision whether to use a conventional or an FHA mortgage to purchase or refinance Investment property generally depends on the following 11 Comparative interest rates and points between the 2 programs 2) Maximum loan to value available under the 2 different programs 31 A&sumability of the loan 4) If refinance, as stated. If to take out equity difficult to do A key point here is that the FHA mortgage is assumable when the properly is sold the conventional loan is not Mortgages for S units and ap The \best\ program I am aware of for apartment complex mortgages are those offered by FNMA/FHLMC These entitles offer loans lor either purchase or reflnanc tng The basic program allows a loan of 80% of sale price or value It is a fixed rate assumable 30-year loan, that Incorporates a balloon or call\ provision at the end of 15 years. As I write, these loans arc available at 11 95%. which is a comparatively excellent fixed rate 30-year mortgage for an apartment complex These loans are generally available for a minimum of $100,000 with a maximum of $20 million Other mortgages available for apartment complex properties will generally be floating rate loans, with a shorter amortization period than 30 years Additionally other available loans may require more than 20% down and may not be assumable Wiukt to Do: If you are an Investor, be advised of the pros and cons of conventional loans versus FHA loans. Either vehicle will allow entrance into the investor market, one may br better or*worse for the investor depending on his/her particular needs Consult your lender or realtor for an In-depth comparison of available products NEXT WEEK: An Update on Mortgage Closing Costs Complimentary reprints of this entire series of 11 mortgage related topics may br obtained by writing to or calling Syracuse Securities Laurence Smith, c/o Syracuse Securities. Inc.. 1010 James Street. Syracuse. New York 13203. (31S) 424-0218. All questions will be answered. The writer Is President ofSyracuse Securities. Inc.. a tocat mortgage banking firm Smith ts also a director of the Empire State Mortgage Bankers Association Equal Opportunity lender— TARPAUUN HEAVY Duty An Weather Porrefrtytene Hyian ttetntorced Grom- mets TM > Reststant 24 fir Stappmo Cover \pools boats car* machinery and wood 6*8 $500 8 « 10 $7 00 9i«2 S9 00 t0« 17-tWOO I2»t2 $12 00 8 » 20 $14 00 12 « 16 $1600 10 i 20 $17 00 12 1 20 $2000 U « 22 -$2200. 12 1 25-S2500 16 a20-S2700 20«20- $3500 IS * 30 $38.00,20 « SO $5000. 20.35-S63.00 20x40OO 25*40- $8500 25 s 45 $9500 30«40$H000 30 * 50 $12500 30 > 60 $15000 ORDER BV MAIL or Call 518 -627-5537 Mon thru Sal 6 a m 6pm We stop COO Only WINDY RIDGE 01S TRI8UTING Rt 145 Middle&urQh NY 12122 (nyscan) E49-49 LOSE WEIGHT! Feel Great' safe H»rtj*l way As seen on T V 457-3897 E46~«9 SKANEATELESOFFICE Supply VMM rent typewriters calculators overhead projector* desks files Check your of fice needs witfi us Service rs our policy M Jordan St Skaneateles 685-7740 S46 -tfn NEW MARVIN windows drastically re duced 4 casements insulated glass sc reens grills one picture and or bay win dow 655-8920 C47-50 FLASHING ARROW sigh 401 off\ $289 complete Lighted non-arrow $269 Un wanted $2»9 ffree letters') See locally (800) 423-0163 anytime (800) 626-7446 (GIANT INFLATABLE LED moving mes- sage sale') €49-49 Brothers Knitting Machines Sale Large Selection of Quality Coned Yarns. Financing Available Sale Ends 12/15/85 Knitting Gallery 1331 W. Fayette St Syracuse. 422-0079 Hours: Mon.-Fri. 10a.m.-5p.m. Thursday evening 10a.m.-7p.m. Saturday 10a.rn.-3p.rn. VISA' m A49-50 CASH MORTGAGES If you have sold your home or other property and taken hack a mortgage 1 will buy that mortgage for cash COMMNET LTD.. 800 452-0111 Bob Baxter. 315-685-3539 E48-SO HENNEBERRY ROAD Beautiful country setting only 20 mms to downtown Spacious colonial with country kitchen two fireplaces, intercom random pine floors, & 3 car garage Separate 2 car garage with income apartment. Summer & winter sports Great for horses A REAL MUST Tt ) SEE' Call Mr Inman. broker. 446-5751 JS. e. REAL ESTATE BURIAL PLOTS. Gethsamane section White Chapel Garden* 622-2397 after 5 p m weekday* -—£46-50 COMBINATION STORM door almost new 34 x7Q left handed Call655-3094 C49-49 LAMES FULL length sheared beaver coat hwy color - excellent condition See Jim Ckrksen or call 655-3619 . - - C49-49 FLA NT SALE: Cazenovja* Garden Club a .annual Chnstmas plant tale will be held on Thursday December 5th from 10 am -8pm at the Uncktaen House Pom- setoas. fresh wreaths and roping hand made ornaments and baked good avail able C49-49 1965 10 HP Ford tractor snow blower rototiiter lawnmower attachments $700 655-3002 ———€49-49 COMMODORE 64 computer with 1541 disk drive Amdek color monitor Anima tion station desk games and acces sories $550 Call 655-9567 • C49-49 EMPLOYMENT Medical DENTAL RECEPTIONIST For a friendly busy practice in Cazenovta Must be a Take-Charge person with exceptional typing, scheduling and telephone skills Prefer dental assistant or medical dental office experience to qualify P O Bos f Cazenovta Republican C3lttn HOLIDAY FESTIVAL OF TREES Everson Museum December 5 -11 £42-49 DaRin Painting Interior & Exterior plaster & sheetrock repairs Expert wallpapering. 469-1492 E 40-52 NYSCAN Classifieds New York State Classified Advertising Network 25 word ads reach 3 2 million readers in 157 weekly newspapers in NY State for only ST25. For mors info call. 637-3121 MTOCAHfe ••**•**•< HTW TOM PfttlS ASSOCIATION DEVEY REAL ESTATE is Residential Properties Listings & Sales THE MARKET PLACE MANtlUS 682-9300 Office Space Available Up To 1000 Sq. Ft. Located Fayetteville NY Near E Genesee St, Rt 5. Modern. Heat & Air Included. ideal for Professionals or Mgfrs. Rep. Call 637-5113.