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PHOENIX FALL REAL ESTA TE/HOMEA D A M IThuH/alueHARDWARE STORESFor All YourHome Improvement NeedsNow serving you betterwith the complete lineof Benjamin Moore Paints449 Myrtle Ave. Brooklyn, NY 858-8897 858-8814In Brownstone BrooklynWhen You Think Of Housing ..You Think Of*Real Estate Brokers in Brownstone BrooklynBrooklyn Heights, Cobble Hill, Carroll Gardens, Red Hook194 Court Street, south of Congress (718) 643-3330Boeniin Hill102 Hoyt Street, between Atlantic and Pacific(718) 875-5650Fort Green, Clinton Hill, Bedford StuyvesantOne South Elliott Place at Fort Green Park (718) 858-7844Park Slope, Prospect Heights, Crown Heights,Prospect Lefferts Gardens64 St. M ark%u2019s A ven u e, at FSatbush (718) 857-5950Vt/illinwn I n r k r ir io v H a r r is R rn k p r' %u2019 * \------------------ ----------- O .................. ........................- 9 ------ ' - %u2018 ~ %u25a0CAUTION: Habit forming since 1972.Getting That Tree To Grow Well In BrooklynTO PI A N T A TREE IN THE EARTH, USE:1. 8-ft. cedar stakes2. rubber hose3. 12-in. gauge galvanized wire4. tree wrap5. fence6. ground cover7. soil mixa hole IV 2 x the depth of the root system (min. 4 ft.)'a hole 2x the diameter of the root system (min. 5 ft.)A new guide to street trees released by Brooklyn Parks and Recreation is now available, free, to residents of Brooklyn. The illustrated guide, %u201cA Guide To Street Trees Of New York City,%u201d is an eight-panel, two-color fold-out about procedures for tree planting and maintenance. It also includes information on the benefits of trees, basic tree care, and a list of recommended tree species.Written by Brooklyn Director of Forestry and Horticulture, Liam Kavanagh, copies can be obtained by calling, writing or visiting the Brooklyn Forestry Office, 95 Prospect Park West, Brooklyn, 11215, telephone 768-0223. Office hours are Monday through Friday, 9am to 5pm.Hints For Refinancing The HomeMortgage Without Losing MoneyConsumers who are refinancing their home mortgages at a lower interest rate should think twice before refinancing the mortgage for more than they owe, advises Ruth Lowenberg of Cornell Cooperative Extension%u2019s Brooklyn Center. %u201cLower interest rates are tempting, but a loan is a loan. The length of time spent paying off the loan could make even cheap interest rates expensive in the long run,%u201d she says.For example, if a couple owns a house with a current market value of $100,000, purchased for $60,000, with $40,000 remaining on the original balance. Instead of refinancing the new mortgage for $40,000, they borrow $90,000, using the value of the house to increase their cash flow.%u201cMost banks will let you refinance a mortgage at 90 percent of the current value of the home,%u201d says Jeanne Hogarth, consumer economist with Cornell Cooperative Extension. %u201cBut whether or not you take out a larger mortgage should depend on more than the interest rate you get on the loan,%u201d she cautions.Refinancing a higher amount than what is owed could provide money to pay off old debts, such as car loans, credit card bills, and other expenses that may carry high interest rates.%u201cIt%u2019s very tempting. Your credit card may have an interest rate of 21 percent, and now you may be able to borrow mortgage money at 9 percent,%u201d she says. %u201cWhy not put all the loans together and pay them off with money from the new mortgage?%u201dWhy not? Because as cheap as the interest rate looks now, it could still cost you more in the long run than just sticking with the short-term, high interest loans. A car loan may be paid off in four or five years; a mortgage can take four times as long. And every year you owe money, you pay interest on it.Suppose you have a $10,000 car loan you want to pay off, says Hogarth. The current interest rate on it is 12 percent; it will be paid off in two years. The total interest charge on that loan is $1,297.65.%u201cNow suppose you can use money from a new mortgage to pay off that loan. The interest rate now is only 9 percent; however, you%u2019ll be paying of that mortgage for 10 years (in this example). Total interest on the same original $10,000 loan is now $5,200. In other words, over the long run the 12 percent loan is cheaper than the 9 percent loan!%u201d she says.%u201cYou pay on a mortgage for a long time,%u201d says Hogarth. %u201cThat length of time can offset any savings from a lower interest rate.\There are times, however, when refinancing a mortgage could provide liquid assets to consumers who need them. If you have children about to go to college, or you need to make home repairs and improvements, those expenses could justify taking a larger mortgage.%u201cSometimes it makes sense to tap into the equity in your home. But generally it does not make sense for small, short-term loans,%u201d adds Hogarth.Archaeological Dig Yields PotteryThe New York Landmarks Conservancy has recently completed an archaeological dig at the Christian Duryea House site in the East New York section of Brooklyn, sponsored by the New York Landmarks Conservancy, Brooklyn Borough President and Brooklyn College.The Duryea House, one of the few Eighteenth Century farm houses remaining in New York City, is the last remaining visible feature of a 100 acre farm complex begun by Dutch settlers. The first known owner of the house, Christian Duryea (1751-1830), cultivated the land surrounding the house, contributing to the formation of the early Brooklyn town of New Lots.Archaeological investigations were conducted to document the house%u2019s early context and to obtain information relating to the development of the farm and the Duryea family. The excavations were conducted between June 19th and July 14th by Professors H. Arthur Bankoff and Frederick A. Winter along with ten studentsenrolled in the Brooklyn College Summer Archaeological Field School.Twenty-two trenches were excavated and over 14,000 artifacts were recovered. Artifacts ranged from Eighteenth Century pottery to early Twentieth Century glass.These artifacts will be further analyzed, and will be made available for exhibition in East New York. %u201cThis project has given us a striking glimpse of a typical eighteenth and nineteenth century farming family in New York City,%u201d says Laurie Beckelman, executive director of the Conservancy.The project was funded by the Brooklyn Borough President%u2019s Office because, according to Borough President Howard Golden, %u201cWe are committed to the understanding and preservation of Brooklyn%u2019s earliest surviving lanamarKs. a s part ot tms preservation effort, the house is now being repainted to protect it from the weather. The National Paint and Coatings Association has donated the paint through its %u201c Picture it Painted%u201d program.Page 24, THE PHOENIX, September 11, 1986