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News

September 28, 1968

COMMUNITY NEWS

IF YOUR VIO EXPIRES THIS MONTH

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SLOCAN PARK 226-7216

CASTLEGAR 365-3368

MR. AND MRS. BRIAN OSACHOFF Married July 2

Marriage unites Osachoff, Seguin

Brian Osachoff and Kimberley Margaret Seguin; both of Vernon, were married at the Brilliant Cul- tural Centre July 2.

The bride's parents are Mary Seguin of Woodslee, Ont. and Philip Seguin of Windsor, Ont.

The groom's parents are Mr. and Mrs, John Osachoff of Castlegar.

Pellr Samoyloff assisted in the translation of the ceremony, “uniting two cultures,”

The bride was given in marriage by her father. She wore a cathedral. length gowp covered with imported lace. The bodice had an abundance of pearls woven into delicate lace. She also wore a tiara studded with cry- stals.and pearls with a sheer mid- length veil.

She carried a bouquet of a dozen white roses accented with stephan otis, miniature pink and blue flowers with trailing white and royal blue ribbon and white lace. She wore an authentic pearl necklace and mat: ching pearl stud earrings.

The maid of honor was Alena Cote and the.bridesmaids were Kim Cote and Sue Sobuisto, all of Edmonton.

They wore off-the-shoulder floor.

length royal blue satin gowns trim: med with royal blue lace.

The flower girl, Jamie-Lynn Se. guin of Woodslee, Ont., wore a floot- length white satin dress trimmed with royal blue ribbon and white lace.

The attendants’ bouquets were white carnations with blue flowers trailing with blue and white ribbons. The flower girl's bouquet was made of six white roses, blue flowers, white lace and a blue ribbon.

The best man was Kevin Semenoff of Logan Lake, B.C. The ushers were Jack Kanigan of Castlegar and Terry Beson of Burnaby.

“ The reception was held at the Castlegar Sandman Inn with music supplied by Good Times Music.

The three-tiered wedding cake was decorated with blue flowers and top. ped with a blown-glass heart with two doves and two bells.

The master of ceremonies was Stephen Samoyloff-of Castlegar and the toast to the bride was given by her uncle, Alan Cote of Windsor, Ont.

The newlyweds took a honeymoon trip to Fairmont and Radium Hot Springs and reside in Vernon.

BUSINESS

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ees ata $ off renting, given the recent increase in interest rates and house prices.

HOUSES

Cseppento and Borgsteede wed

We want your recipes for our

Annual Cook Book

Please mail them to: COOK BOOK, Castlegar News, Box 3007, Castlegar, B.C. VIN 3H4, or drop them off to us at 197 Columbia Avenue.

Julianne Darlene Cseppento, daughter of Peter Cseppento of Castlegar and Marcel Roland Bor. gsteede, son of Rinus Borgsteede of Calgary and Louis German of Nan aimo exchanged wedding vows on July 2. Paster Morley Soltys, for- mally of\ Castlegar, officiated the

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wedding. The marriage took place in Rily Park in Calgary.

The wedding party included Sheri Le Roy of Castlegar as maid of honor, and Marilou Smith of Castlegar and Debbie Mack of Calgary as brides- maids. The groom's father, Rinus Borgsteede, _was best _man—and Andrew Borgsteede was grooms- man, both of Calgary. The bride’s brother, Charles'Cseppento was also a groomsman.

The bride wore a traditional gown of white chiffon with an imperial waistline. The bodice and sleeves were accented with lace and pearls. The bride's headpiece was a small hat covered with lace and pearls. The bride carried a bouquet of pink and grey silk roses. For jewellry the bride wore her mother's diamond necklace.

The bridesmaids wore soft pink, tea-length dresses accented with pearl accessories. Their bouquets also consisted of pink and grey silk roses.

The groom and groomsmen wore grey pleated trousers with pink dress shirts and burgandy ties.

The reception following the cer emony was an informal affair held at the Marborough Inn.

The wedding cake, decorated by Caron LeRoy of Castlegar, was three-tiered featuring arches of pink silk apple blossoms with white doves on the bottom layer.

The two other layers had a scalloped look of blossoms and a heart encircling two white doves topped the cake. Pink tulling was nestled between the layers with more apple blossoms for accent.

The. couple now is residing in ‘Cal- gary.

MR. AND MRS. PETER CSEPPENTO . married in Calgary

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Answer to Sunday, Sept. 25 Cryptoquip:

WHY WOMEN STOPPED WEARING LONG, CUMBER. SOME DRESSES: THEY COULDN'T HUSTLE IN A

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FULL GOSPEL FELLOWSHIP (A.C.0.P.)

EVANGELICAL FREE CHURCH CALVARY BAPTIST

914 Columbia Avenue

Below Castleaird Plaza Phone 365-6317 PASTOR: BARRY WERNER * 365-2374

— SUNDAY SERVICES — Sunday School 9:30 a.m Morning Worship — 10:30 a.m. Evening Fellowship 6:30 p.m Wednesday: Home Meetings 7 p.m Friday Youth Ministries 7 p.m. HOME OF CASTLEGAR CHRISTIAN ACADEMY 365-7818

PENTECOSTAL NEW LIFE ASSEMBLY

602-7th Street * 365-5212 Near High Schoo!

— SUNDAY SERVICE — Christian Education 9:45 a.m. Morning Worship 11:00 a.m. Evening Service 6:30 p.m — WEDNESDAY — 7:00 p.m. Bible Study — Prayer Crosstire for Youth

7:00 p.m. Youth Meeting

WEE COLLEG

9:45 a.m. Sunday School for All Ages 11:00 a.m.

Family Worship Service Discipleship Ministries Women Ministries Youth Ministries PASTOR: ED NEUFELD Phone: 365-6675 “A Church that Loves the Castlegar Areal”

809 Merry Creek Road Past Fir Sunday School 10:00 a.m. Morning Worship 11:00 a.m. Evening Service 6:30 p.m.

TUESDAY 6:00 p.m. AWANA WEDNESDAY NIGHT Study & Prayer 8 p.m CHURCH 365-3430 OR 365-7368 ROBERT C. LIVELY, PASTOR

ST. PETER LUTHERAN

Leaner

Faith Fellowship

LUTHERAN pani CHURCH - -CANADA 713-4th Street ore aT J gen seees PASTOR GLEN BACKUS SUNDAY Worship Service 9 a.m Sunday School 10:15 a.m Youth Group 6:30 - 8 p.m WEDNESDAY Bible Study 8 p.m Listen to the Lutheran Hour Sunday. a.m. on Radio CKQR

GRACE PRESBYTERIAN _

Pho i} PASTOR STUART LAURIE * 365-3278

Sunday Morning Worship 10:30 a.m Nursery & Children’s Church provided Mid-Week Service & Study Wednesdays 6:30-8:00 p.m Bible teaching for all ages A Non-Denominational Family Church Preaching the Word of Faith!

ANGLICAN CHURCH

UNITED CHURCH OF CANADA

Ta0l Columbia Avenve 2605 Calumbia Ave. REV. J. FERRIER © 365-3182 Sunday Service 8 a.m, & 10 a.m Sunday School 10 a.m REV. CHARLES BALFOUR 365-2271 — PARISH PURPOSE — To Know Christ and Moke Him Known

Morning Worship Nam

2224-6th Avenue 1% Blocks South of Community Complex 10.a.m. Worship & Sunday School Mid-Week Activities for all ages Phone for info-mation. Rev. Ted Bristow 365-8337 oF 365-7814

SEVENTH-DAY ADVENTIST CHURCH 147) Columbig Ave., Trail 364-0117 Regular Saturday Services Pastor Cliff Drieberg

5-2649

___CHURCHOFGOD

2404 Columbia Avenue

Church School 9:45 a.m Morning Worship 11 a.m.

Pastor ira Johnson © 365-6762

Is now time to buy?

By KEVIN WARD Canadian Press

With interest rates and house prices climbing, prospective first-time home buyers may wonder whether they would be better off to rent.

Then they could invest the difference between their rent and what they'd pay to carry a big mortgage.

Take Wayne and Paul, both in their 30s and starting to think about financial security for their families

Each earns about $32,000 a year, but they have different plans on how to save money to achieve their financial goals

Worried that the demand for real estate will level off as the baby boom generation matures, Paul has decided not to buy a house

Instead, he will continue renting an apartment and use the money he saves to invest in something safe, such as treasury bills.

GOES FOR HOUSE

Wayne, on the other hand, opts to buy a house for

$100,000 with a 25-year mortgage. (Although financial

‘As the baby-boom generations that follows will not be as large, so the demand for first- time homes will decline’

institutions normally require a down payment of at least 10 per cent before granting a mortgage, for comparison purposes this example assumes that Wayne borrowed the full cost of the house.)

Who has made the better investment?

Jeff Halpern, director of retirement services for Royal Trust, thinks the chances are good that Wayne will end up further ahead

At an interest rate of 12 per cent, Wayne's mortgage payments are $1,032 a month, plus $168 in property taxes for a total of $1,200.

Assuming that interest rates and taxes stay at those levels, Wayne will have paid a total of $329,600 to buy his home when his mortgage is up in 25 years.

But his home should appreciate in value during that time. If the appreciation averages six per cent annually, after 25 years Wayne’s house theoretically should be worth $429,187, Halpern says.

SEVERAL FACTORS

Appreciation is based on a number of factors — the city and neighborhood the house is in, how well Wayne maintains it and the general impact of inflation on all prices

The inflation rate is a difficult factor to predict, especially for 2S years into the future. If it stays at the current level of about four per cent dnnually, the house would be worth $266,584 after 25 years, Halpern says.

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Paul, on the other hand, opts to rent an apartment for $750 a month and puts $450 a month into a safe investment which returns, at current rates, just below six per cent annually after taxes.

Assuming that his rent increases are covered by salary increases but that he continues to invest $450 a month, at the end of 25 years he will have built a nest egg of $268,821. That’s an investment worth about $160,000 less than Wayne's house if it appreciates at an average annual rate of six per cent.

But if the appreciation averages four per cent, Paul's treasury bills will be worth about $2,000 more than the house.

ENJOY HOME

There are, however, other factors to consider when buying a house. .

“Personal enjoyment is important as well,” says Halpern. ‘‘A treasury bill might be nice to look at, but you can't use it. People get a lot of enjoyment out of a house.”’

At its worst, Halpern says, real estate will always be a good hedge against inflation. ‘‘The historical track record speaks for itself."”

But John Winter, president of management con- sultants John Winter Associates, has studied the impact the shrinking younger generation will have on the housing market, and warns that history is not a perfect crystal ball for the future.

As the baby boom generation that follows will not be as large| so the demand for first-time homes will decline

That doesn’t mean real estate will be a bad investment in the future, he says. It just won't appreciate as dramatically as it has in cities like Toronto in the last couple of decades.

CLIMB VARIES

Since 1958, the average price of a horne in Canada has increased more than 900 per cent, from about $13,800 to $129,200 statistics provided by the real estate company Royal LePage indicate.

However, there have been significant regional differences.

In Toronto in 1958, the average price of a house was about $16,000. Today it’s $215,000, or about 13 times greater. In Winnipeg in 1956, you could buy a house for an average of about $10,100. That house would be worth about $80,600 today, an increase of about eight times its value 30 years ago.

““What we are going to see in the future is not as rapid price increases, we will see fewer heated markets like Toronto,’ Winter says. ‘‘Real estate is safe, it’s one of the safest investments you're going to get if you look at the long term.””

Still, Andrew William, president of Toronto-based financial advisers Noram Capital Management, warns against buying real estate today solely for an invest-

, ment.

“If one needs a place to live, and can afford it, buy a house,’’ Willman advises. ‘‘But the real speculation today is not in the stock market — it’s in real estate."’

(FALCON

PAINTING & DECORATING

it

For one hour while we drastically reduce the price of every remaining 1988 car and truck in our inventory. This may be the most important hour of the year. This authorized liquidation sale will be conducted by Smith & Associates from 8:30 a.m. Wednesday, Sept. 28, 1988 until Sunday, Oct. 2, 1988 at 5:00 p.m. These discoun- ted prices will be available to the public only. No DEALER inquiries PLEASE.

100 FINANCING Will be offered during this sale

event - . Credit counsellors and bank financing specialists will be on duty through this entire sale . . . pre- arranged credit approvals for evening and weekend deliveries are recommended. Insurance available after hours.

CALL NOW 365-2155 CALL COLLECT

Appraisers will be on duty non-stop for this sale event. We are critically short of quality used cars and trucks . . . Absolute top dollars paid to you for your clean car or truck. Remember we do take anything in trade!

1700 Columbia Ave., Castlegar D.L. 5058 PHONE NOW 365-2155 PHONE COLLECT

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