CONSUMER demand for
mortgages is reaching ‘‘un-
precedented levels,’ reports
a@ mortgage market bulletin
produced by Royal LePage.

“Traditionally, this is a
very active period for mor-
tgage markets. However, the
level of activity is more in-
tense this year because of
highly favorable mortgage
rates that, in some cases, are
at the lowest level in eight
years. This has fuelled sales
of new and resale homes and
encouraged many people to

Condos

CANADIANS are now
beginning to accept
condominiums as an
acceptable form of
housing.

By JAMIE JOHNSTON
Contributing Writer

In some markets they rep-
resent almost one quarter of
all residential sales.

The initial attraction for
condominiums was price.
Because condominiums re-
quired less land per unit than
conventional housing, they
were cheaper.

But recently, high priced

- reat

2288 KINGS AVE.
DUNDARAVE
OPEN SUN. 1-4

existing mor-
tgages,’’ says Royal
LePage’s residential mor-
tgage salesman.

refinance

Commercial mortgage
demand also is very strong,
notes Bill Anderson, Royal
LePage’s commercial mor-
tgage salesman.

“Demand is not expected
to dampen over the summer
months although it may
stabilize,’’ adds Anderson.

Business pecple and con-
sumers (both purchasers of
new and resale homes and

is

those renewing mortgages)
continue to favor fonger-
term mortgages as the inter-
est rate spread between one
and five-year terms remains
at 1% percentage points in
the majority of markets.

“While most markets
report an adequate supply of
mortgage funds, the strong
demand for longer-term
rates means that some
lenders may be experiencing
temporary shortages of five
and 10-year money,"’ says
the company's residential
spokesman.

prove popular

in prime
have

condominiums
downtown locations
been in demand as well.

In looking at a_con-
dominium it is important to
understand the difference
between it and a coopera-
tive. With a condominium
you are buying a specific
unit; with a cooperative you
are buying a share in the
total property.

The ownership of a share
then entitles you to accom-
modation in a unit within a
complex, Note that in
theory, although you own a
share in the co-op, you do
not actually own the unit

you are living in, or any unit
but instead own a share in
all units.

This distinction has made
condominiums a more
preferred form of ownership
than cooperatives. While
there are certainly well run
cooperatives in Canada, this
form of ownership tends to
place the individual at more
personal risk.

in looking to buy either a
condominium or cooperative
make sure you get all of the
information about the com-
plex, how it is operated and
how much it costs.

NEW LISTING?!
OCEAN VIEW!

Super location - easy walking to

the

sea wall,

shopping,

transportation and the rec cen-
tre. On the sunny south side of
the street with big enclosed
garden area, fruit trees and
spacious lawn. Nice sundeck

and patio. Modern kitchen with
all appliances. Fully developed
lower level with high ceilings
and fireplace. This is a must see
for Dundarave lovers! View on

Sunday or open by appointment
at any time.

ONLY $159,500

Another outstanding Dundarave
property with private garden,
updated kitchen, solarium, in-
law suite. Close to all amenities,

and at

the terrific price of
$159,500

firm. Open by

appointment at any time — just
give me a call!

PROPERTIES WANTED

tnave cash buyers fer propert es i central Wiest Vancouver
Fiee estimates of vaiue

PHONE 926-6620
7 days on pager

Suite 104--250 18th Street, West Vancouver

eg en ae the ae fe

FREE ESTIMATES OF VALUE

77 - Friday, August 15, 1986 - Nor

ees

DOREEN RUSHTON

OPEN SUN. 3 to 5
A GREAT WAY TO START WITH THIS TWO
BDRM RANCHER JUST EAST OF WESTVIEW
AVE! &SKING $104,900!

SUMMER IS GREAT

HERE WITH THE LOVELY POOL AND PATIO! §

IMMACULATE BUNGALOW STYLE HOME! 3
BDRMS., DEN, 2 BATHRMS., 2 FIREPLACES,
SOLID OAK KITCHEN, SELF-CONTAINED MOR-
TGAGE HELPER ON LOWER LEVEL! £150'S.

OWNER WILL CARRY
THE MORTGAGE ON T''IS 4 BDRM
SQUTH SLOPE VIEWS AND SUNNY
NEEDS SOME TLC! 9120'S

WITH
LOT!

li

th Shore News

= SAINTS corre

GLADYS PICKSTONE
FRI, C.M.R., Rl. (BC)

SUPER RANCHER WITH 4 BORMS., FAM RM.,

f QUIET STREET, PRIVATE LOT. EASY WALK TO

SCHOOLS, STORES' ASSUMAELE MTGE

ASKING $119,900!

LOCATION, LOCATION, LOCATION!
FULLY FENCED AND PRIVATE! FOUR
BEDROOMS, LARGE LOT! OWNER MAY TRADE
OR CARRY MTGE.! OFFERS IN $150'S.

ANDERSON LAKE
44 LOVELY ACRES WITH SMALL CABIN
$30°S.

WATSON LAKE
TWO HALF ACRE LOTS LAKE FRONTAGE
$23,500!

GIBSONS
EASY BUILDING SITE WITH
FOUNDATIONS IN! $25,000

DON’T SELL YOUR HOME WITHOUT US!

NORTH
SHORE
REALTY

Off.: 985-7185
“The Little Professional Firm”

oi cea
QUIET NEIGHBOURHOOD
This 1,220 sq.ft. home has 3 bdrms plus 1 down
also a huge rec. rm., on a 65 x 114 lot, dblec.p.,
fenced yard & covered sundeck for only

$125,000
TAGE ELGAARD 922-7968

My = a
CHOICE OF 3-1 BDRM. SUITES
Priced $29.900 to $43.000. Excel price for these
strata suttes Convenient location
TED LUCAS 987-6897
DOUG BLACK 988-6239

*

3 BDRMS. WITH 3 BORM. SUITE
For only $83,900 sited on a 33° tot. This suite is
rented for $500/mo The home needs work. Good
value ‘ar someone
DOUG BLACK 988-6239

$52,900

Exceptional 1 bdrm. suite, move-in condition,
beautifully decorated, sculptured cptng., oak
cabinets, deluxe appliances, west facing, partial
city view & much more. A pleasure ta show.
DOUG BLACK 988-6239
TEO LUCAS 987-6897

2. ENJOY O

This architect designed waterfront residence in
Wast Vancouver's prestigious deveiopment has
own accessible beach in sheltered cove. living
room % bedrooms enjoy superb 180° wews
Svamming pool potential

TED LUCAS 987-6897
DOUG BLACK 988-6239

25. INVESTORS SPECIAL
This 3 bdrm. home has a dbl. CP & work rm.,
sundeck plus a 3 bdrm. accommodation down.
currently rented for $1,200 per month.

TAGE ELGAARD 922-7968