The Journal Times from Racine, Wisconsin • 70

Buying home means mighty tight budget COMPLETE SERVICE REAL ESTATE SPECIALISTS Commercial Industrial Residential Farms Acreage Subdivision Land MORTGAGE FINANCING AVAILABLE at least so far. "We haven't attracted young couples because It doesn't appeal to them," said James Dickert, vice president of Heritage Realty, developer of the Green Ridge condominiums at Spring Street and Newman Road. But Dickert said more families may have to turn to condominiums or apartments as housing costs go up "It scares me when I write up offers of purchase for $500 or $600 a month. It scares me when people have to pay this kind of (Turn to BUYING Page IS) WalterS. 1 34 1 Wash.

Ave. Dial 634-6622 Real fsfcrfe Broken Since 1970 Wayne and Linda Johnson don't go out much anymore because it takei a big chunk of their Income just to keep up the $340-a-monih payments on modest little home at 2401 Kentucky St. "I can't go to the store shopping that much," said Linda. "I can't buy what I want to buy." The Johnsons estimate they make about $18,000 a year, combining income from Wayne's Job as a crane operator at Racine Steel Castings and Linda's Job on the assembly line at Mamco Corp. House payments (the $340 includes taxes and insurance) take a good chunk of that.

But the Johnsons, both 26, believe they made the right decision in buying their $35,000 house. They are not alone. Racine real estate salespeople report that many young couples are stretching their finances and combining their incomes to buy single family homes a market the realtors say is going strong despite rapidly rising prices. But inflation makes some real estate people cautious, too. "So far, it hasn't dimmed the appetite of people to buy homes," said Ray Borgeson, president of Guy Lloyd Inc.

"1 would say the demand for the single-family home Is Just as strong as it has ever been. "However, with the rapidly-increasing cost of housing, the single-family home is out of the budget line for many people, especially young families." Some families find a way, anyway, he 'said. "They make ij more of a priority, and, one way or another, they afford it," Borgeson said. Ronald Barbera, vice president and sales-manager of the King Ehrllch said, "The ultimate goal or American dream is still the single-family house. .1 don't believe the average American is being priced out of housing." But young people are finding their budgets stretched tighter because they want bigger, more elaborate houses than the ones their parents once bought, Barbera said.

"Right after World War II, the average house was 800 to 900 square feet, two-bedroom, expandable attic, and no frills. Now, everyone wants a three-bedroom, 1,400 to 1,500 square feet, ranges, dishwashers, fireplaces, attached garages." 'BarberTsaid ills aTaltacy that nobody" can afford to buy them anymore. That's Just not true." But. he added, "for most of the' young couples buying nice houses, it does require two incomes to do it. No doubt about it." If land prices continue to rise Barbera says a modest lot costs $13,000 to $18,000 some families may turn to condominiums because the cost of land is lower than for single-family homes, he said.

But one condominium developer says the units are unpopular among young families, All Hit money yon need iw Mill is reedy lor gou. Ail the coney ijcj need ice irrover.enls Is walling loo. we cere cl ocr eosioiers. HOURS All Ottlcas Monday through Thursday 9 00om. loSOOpm Friday 9 00 a m.

0.00 Six Camtnlwrt Locations Downtown 400 Wisconsin Avanuo (37-4411 North 3S11 North Main Street SIS-9010 Uptown 1601 Washington Avanuo 637-1237 Waal 1501 Washington Avanuo 637-6163 Burlington 210 South Pino Stroet TS3-6466 Sturtavanl 8710 Raclna Avanuo 666-0036 Remodeling? Landscaping? New Construction? Additions? FOR MORE INFORMATION and FREE ESTIMATES CALL ESDCi southeastern savings Smprafcrement (fforp. P.O. Box 1374 Racine Wi. a divivoi of Enterprise Corp Racine. Wi,.