CONSTRUCTIO™ WORKERS, atop a new building at the corner of St. Georges
Avenue and Keith Road, appear unaware of the picturesque waterfront view. Seen in the
background is Canada Place, now a prominent feature on Vancouver's skyline,

NEWS photo Terry Peters

Home survey prices
will seldom agree

A NUMBER OF RAL estate organizations pro-
duce surveys on real estate prices.

They always generate a lot of
interest. Perhaps it’s because
people who own houses like
to get the warm fecling that
they are getting wealthier
over time.

The problem, however, is
that no two surveys ever
agree. Does that mean so-
meone is wrong? No. Dif-
ferent surveys use different
approaches.

Most real estate boards use
‘average sales price figures.
Over time they will produce a
trend.

But their accuracy is reduc-
ed because the mix of house

By JAMIE JOHNSTON
Contributing Writer

sales changes from period to
period.

For example, in one month
only expensive houses might
sell and then in the next a
large number of smaller
houses might sell. The
average price would drop,
where in actual fact real
estate prices might be
increasing.

A few boards produce me-
dian prices — that price
where half the units sold for
more and half for less. This is
better but it is still open to

changes in the mix of sales.

A second approach is to
track a standard house type.
This avoids the problem of
changes in the mix of sales
from period to period.

However, the drawback is
that this standard house type
may not be available in every
market.

AS an example, I
remember when we tracked a
1,300-square foot bungalow.
In one city, all the bungalows
were only 1,100 square. feet
and we had to adjust the
price upwards.

Everyone told us our price
was too high as bungalows
were selling for less. We were
right but everyone thought
we were wrong.

mm Beautiful shape, excellent family home, suite potential, spacious open 3 BR floor plan, :
a 2 must see if you are aokin in Westlynn area. 1321 E, 17th. Asking $134 900. Call now®

33 - Friday, April 18, 1986 - North Shore News

Ss

BOB
LEWIS

19861651 98

ars

SUPER NEW LISTING

DDIE 987-5695, BOB LEWIS 986-1651

ROFESSIONAL SERVICE.
OSITIVE RESULTS. '

(© Crest Realty |

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. 5367 MONTEVERDI! PLACE
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Mi sepurated by glassed in patio — gorgeous home
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BARBARA HOLLANDS 922-0808

YOU CHOOSE :

The choice is yours! Carpet colour, oak kitchen, g

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My pleasure to assist your purchase and trade

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OPEN SUN. 2-4 P.M.
- 4778 MEADFEILD CRT.
WEST VANCOUVER

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Taper recs