HOME BUILDING IN CAPE GIRARDEAU NEAR RECORD PACE

Home building in Cape Girardeau is moving at a near-record pace in 1993. With almost a month left, permits have been issued for 98 new homes in the city, ranging in cost from a low of $45,000 to a high of more than $500,000.

"We're only seven permits away from 1988 totals, when 105 home permits were issued," said Rick Murray, who supervises Cape Girardeau's inspection department. "Every month I've been waiting for a letdown in new-home permits. It hasn't come."

During the past two months, 24 permits have been issued. "In addition, 14 permits have been issued this year for a total of 44 units of apartment, or dual-complex living quarters," said Murray.

The Southeast Missouri Homebuilders Association attributes the new surge in home building to a number of reasons.

"First is the need," said Ann Brookman, president of Edgewater Glass Co., 324 S. Plaza Way, and president of the SEMO Homebuilders. "We have a real need for homes in the upper average price range -- $70,000 to $100,000."

Brookman there are a "handful of reasons" for the increased need.

"A number of houses are being taken out because of the new Mississippi River Bridge plans," she said. "And the Flood of 1993 resulted in additional shortages of housing."

She also noted that a lot of new-home activity followed the November election, when the proposal to permit riverboat gambling passed.

"Inquiries since the election have ranged from residential to commercial, not only for new building but for existing buildings," she said.

Another important reason has been interest rates, she noted.

"We have the lowest interest rates we've seen in more than a decade. We do have a good selection of homes realistically priced and everything is right for consumer confidence in the marketplace," she said.

One other reason for the building boom at this time has been the weather.

"We've had a lot of rain during the year," said Brookman. "Contractors couldn't get out. Recent weather is allowing them to catch up, and we're seeing a building boom."

Meanwhile, sales of new homes fell over the past two months nationally in all areas except the Midwest, where a 12.1 increase in new homes was recorded.

The Departments of Commerce and Housing and Urban Development said sales nationally totaled 679,000 in October, down from a revised 726,000 in September. Still, it was the year's third highest rate, which helped boost sales for the first nine months 6.1 percent above the same period last year.

The National Association of Home Builders reported that a survey of 505 of its members in early November found 72 percent expecting "good" sales during the next six months, up from 61 percent in October and the highest since the association began the survey in 1985.

The National Association of Realtors said earlier this week that sales of previously owned homes in October totaled a seasonally adjusted annual rate of 4.08 million, the largest in more than 14 years.

Analysts attribute the growth in housing to continued low mortgage rates and a gradually improving economy.

The Federal Home Loan Mortgage Corp. said 30-year, fixed-rate mortgages averaged 6.83 percent in October, down from 6.91 percent a month earlier and the lowest on record.

The median price of a new home nationally in October was $121,000, down from $128,000 in September and $125,000 a year ago. The median means that half of the homes cost more and half cost less.

Regionally, sales shot up 12.1 percent in the Midwest to a 130,000 annual rate that was the highest since a similar rate in August 1992.

But sales fell elsewhere, including a 12.8 percent drop in the South, to a rate of 307,000. Sales were down 6.9 percent in the West, to 189,000, and 5.5 percent in the Northeast, to 52,000.

Existing home sales activity is also up as home-buying consumers continue to take advantage of the interest rates.

Nationwide, existing home sales rose just over 15 percent in the third quarter, compared to the same period of time a year ago.

According to National Association of Realtors (NAR) reports, the sales of previously owned single-family homes, condominiums and co-ops ranged from 1.2 percent in Montana to a high of 37.5 percent in Hawaii. A total of 25 states experienced double-digit increases, including Missouri with a 22.3 increase. Illinois experienced a 7 percent increase.

Negotiations are under way for purchase of the Coca-Cola Bottling Company of Northeast Arkansas, headquartered in Jonesboro, Ark., by Coca-Cola Enterprises, Inc. (CCE), headquartered at Atlanta, Ga.

The Arkansas company also owns operations at Kennett and Jackson in Southeast Missouri.

"Negotiations are continuing," said a spokesman Thursday. "Hopefully, everything will be finalized by the end of the year."

Dave has found a home.

The 35-foot long, nine-foot tall dinosaur can be found in the Paducah (Ky.) Public Library, thanks to the efforts of public service librarian Rhonda Chamley, the Paducah Rust & Martin store, the Yeiser Art Center and a Westvaco Corp. executive.

Dave, made of more than 2,000 square feet of poultry wire and eight cubic feet of sheet moss, was created by Kevin Linder, a designer for the Rust & Martin Store as a fund-raising decoration for the annual Yeiser Art Center auction.

"The art center used a prehistoric scene based on the movie Jurassic Park for this year's auction," said Linder. "I had made smaller dinosaurs in the past and thought this large one would be a good idea."

A floral designer at the store, Carolyn Webb, helped cover the wire with the sheet moss.

When Chamley heard of the project, she decided it would be a good addition to the children's department.

"I just didn't realize how large the dinosaur was," said Chamley, who previously worked for more than a year at the Cape Girardeau Public Library.

She contacted The Little Garden Club, which plaints and maintains an indoor garden at the base of the library stairway. "The club agreed to make room for Dave," Chamley noted.

Meanwhile, David Hartley, vice president and plant manager of the Wickliffe, Ky., Westvaco paper plant was present at the auction. He purchased the monster for $200 and donated it to the library.

"I haven't seen the dinosaur," said Harry Rust, president of Rust & Martin, headquartered in Cape Girardeau. "But based on pictures, it is huge."

David Rust is manager of the Paducah Rust & Martin operation.

Seiferts Stores has reported strong sales at its newly opened women's apparel stores.

Seiferts Stores previously was owned by Seiferts Group, Inc., an Illinois-based company that declared bankruptcy and closed more than 100 stores in mid-summer.

The retired previous owner and founder, James F. Seifert Sr., and other family members purchased some of the stores in a move to revive the clothing store company in August. Forty James F. Seifert & Sons L.C. stores reopened last month, including Seifert's at West Park Mall.

"Judging from our early sales, we anticipate that we will meet or exceed our expectations for every store in November and December," said Seifert.

The Sikeston Regional Center, a division of the Missouri Department of Mental Health, has opened a new satellite office in Cape Girardeau.

The new office, located at 24 S. Mt. Auburn Road in the Community Counseling Center, will allow families in the Cape Girardeau and Perryville areas easier access to services provided by the center.

The center deals with developmental disabilities and mental retardation. Counties served by the Sikeston Regional Center include Cape Girardeau, Perry, Bollinger, Madison, Mississippi, New Madrid, Pemiscot, Ste. Genevieve and Scott.

Office hours at the new center are 8 a.m. to 5 p.m. Monday, Wednesday, Thursday and Friday, with evening hours by appointment. The office will be closed Tuesday.

A regional center is also located at Poplar Bluff.

ELSEWHERE:

METROPOLIS, Ill. Property owners here will be paying lower taxes here next year.

Property tax cuts of about 14 percent will show up on 1994 tax bills according to Metropolis Mayor Bill Kommer.

The new cuts were approved recently by the Board of Aldermen, thanks to funds the city is receiving from the Players Riverboat Casino.

The city will receive more than $3 million this year from the floating casino, docked at the end of Ferry Street on the Ohio River.

The city collects $1 for every person who boards the boat, and 5 percent of the revenue from the boat. The city received $399,264 in October. More than 113,000 people visited the casino during October, an average of 3,645 visitors a day.

The latest tax cut is the second in the city since the riverboat opened in March. The council earlier eliminated a small utility fuel surcharge.

METROPOLIS, Ill. The "first" Superman visited his Earth hometown recently. Kirk Alyn, who starred in 15 Superman serials from 1948 to 1950, was grand marshal of the 42nd annual Metropolis Christmas Parade.

While in Metropolis Alyn visited the Superman Museum, where he signed autographs during a two-hour period. He received a key to the city during a special ceremony at the Superman statue, located in front of the Massac County courthouse. Alyn appeared in more than 75 motion pictures and a dozen Broadway plays.

DONIPHAN Lignetics of Missouri, Inc. opened near Doniphan last weekend.

The manufacturing facility turns sawdust into wood pellets. The pellets can be used as an alternative wood fuel which burns without a pollution emission.

The new plant, which will employ 30, will produce 160 tons of wood pellets a day.