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30 IMS Tax Preparation Gu Wo LUMBER CO. WINTER VALUE CASH AND CARRY AT ITS • QRQVE 8156756866 FOX RIVER GROVE 312 6303866 WINTER IS CEILING SAVING TIME AT TOTEM! @irwtrong SUSPENDED CHUNGS immnan IAaB «FIRE RETARDANT SH HH ~ •ACOUSTICAL •WASHABLE &&««, •§ EA. , , #297 GRENOBLE C#%CQ [I LIGHTLY TEXTURED W / /Ns. v. ir*<r' * - LaylnPan*) I^B EA. Many more to choose ffrom...all TOTEM VALUE PRICED! C A V E A L L S U S P E N D E D C E I L I N G w •" GRID WORK (WHITE) • ̂ %l 48"CROSSTEEREG. .98 SALE 88' I I 10' WALL MOULDING REG. 1.65... SALE'1.49 • W • 12' MAIN RUNNER REG. 1.8S SALE'2.57 Make your ceilings beautiful with material from Totem! LUMBER BARGAINS & BASEMENT FIX-UP FRAMING SHELVING BOARDS 2W Basement Studs »li9 #2 WHITE PUK "REAL QUALITY _ 44« ix4 l. Ft 24* 9gc 1x4 L. Ft. 33* 1x8 L. Ft 43* 1x10 L. Ft. 58* 1x12 L. Ft. 78' l'x^xB' Furring. 2'x2'x8' Framing ALL BOARDS TOTEM VALUE PRICED! DRYWALL $4" V2"-4'X8' Sale ends March 10 ALL PRICES CASH & CARRY Totem has everything to make your basement beautiful Make It look good Make it last with REAL WOOD PLANKING from Totem Lumber lx6Tongue & Grooved WHITE PINE Sale 391 Homeowning is still a profitable investment By Herb Lawrence Copley News Service Is buying or retaining ownership of a detached single-family home or con­ dominium still a good investment? In the late 1970s, it was a great in­ vestment. Many people sold the homes they had owned for a number of years for a bonanza profit. Many had zoomed in value from perhaps $30,000 to $100,000 in a few years. Others bought residen­ tial units and then sold them after a few months to pick up a tidy bundle of pro­ fit. But then came the recession of the early 1980s with its sky-high mortgage rates and its depressed real estate market. That ended the bonanza investment period for residential real estate. Real estate has been reviving since mortage rates have dropped, and more people now can afford to buy homes and condos again. But the halcyon days of the 1970s haven't come back. And real estate researcher Alan Nevins doesn't think they will. "1 think that real estate pricey have been stretched out pretty far," he said. "So for the foreseeable future I don't see those hot days rolling back." But Nevins, who spends his days with his eye on the real estate market, said that buying or holding on to homes and condominiums is still a good solid in­ vestment. "The big difference is that the days of the quick-buck turnover are gone," he said. "Now you have to hold a home or condo for about five to 10 years to come out ahead." People basically buy a home or condo for shelter first. But some recent na­ tional polls have shown that the invest­ ment incentive is still a major factor in home ownership. Nevins, senior vice president of the Goodkin Group, a real estate con­ sulting and research operation, said that when you look at a home or condo purchase in dollars and cents, the in- (Please turn to page 34) Managing real estate without the hassles By James M. Woodward Copley News Service How can we make a good, solid in­ vestment in real estate without becom­ ing embroiled in management pro­ blems? That's a question being asked by an increasingly large number of investors and would-be investors. There are ways to avoid real estate management hassles and still enjoy the unique benefits of real property in­ vestments. And many people now are turning to these types of investment vehicles. For example, real estate syndica­ tions generated about $4 billion in 1983 - that's about three times the amount of investment funds raised in 1982. A real estate syndication is created simply by pooling funds of a number of investors to acquire property. Typical­ ly, investors are "limited partners." The property is managed by a "general partner." Investors may choose from private syndications or larger public offerings. There now are about 90 public syndica­ tions, up from about 70 in 1982, ac­ cording to a study conducted by and reported in Strategic Real Estate newsletter. "The increase in syndications gives evidence that public limited partner­ ships are a dynamic source of capital formation for real estate," said the newsletter editor. "Substantial increases in funds rais­ ed by syndication sponsors indicate there are many new participants in the market as well as savvy investors who continue to be involved." Another increasingly popular no- management investment form is the Real Estate Investment Trust. This is an investment vehicle not taxed at the corporate level on distributed earn­ ings. To qualify as a REIT, the trust must distribute at least 95 percent of net in­ come to shareholders each year. It also must invest at least 75 percent of its total assets in real estate, and derive at least 75 percent of its total income from real estate-related investments. The increasing interest in REITs generated more than $500 million in in­ vestment funds in 1983. The total REIT industry dividend distributions during the first nine mon­ ths of 1983 were up 33.6 percent from the same period in 1982. The rapid growth of these funds largely is due to the increasing number investment companies that are swit­ ching to REIT status. "I see this as evidence that REITs have entered a new era, recording strong new interest on the part of in­ vestors," said David Donosky, presi­ dent of the National Association of Real Estate Investment Trusts. Clearly, the pure investment of funds in real estate -- without management frustrations -- is attracting more takers every day.