52 - Friday, February 8, 1991 - North Shore News YEAR END residential sales were 40 per cent lower than sales experienced in 1989, according to the Real Estate Board of Greater Van- couver. But the fast half of the year enjoyed increasing ac- tivity as sales began to parallel, reductions in| mor- tgage interest cates. Year over year average prices showed an increase of seven from $209,670 for all resi- dential sales in 1989, to 226,385 for the 12-month period of 1990. John Eastwood, president of the 7.000-member real estate board cautions, how- ever, that average prices can be misleading, because they are calculated from total dollar volume divided by the number of sales, and can be skewed by a few high-priced REAL ESTATE 1990 sees decline in real estate sales during the past year, 990 residential sales were re- corded above the $500,000 price level, which represents only five per cent of the total sales, but over Tl per cent of the total dollars. What is more important to the buying public. says Eastwood, is that 39° per cent of single-family bomes sold through the board's Multiple Listing Service sold flower thaa the = statistical average price. In the condominium cate- gory, 50 per cent of all townhouses and 86 per cent of ail apartments also sold for $200,000 or less, and could have qualified for the Property Purchase Tax Rebate. In single-family units, six per cent sold) for under $100,000, along with 18 per mortgage assistance of up to $12,000, with loan guaran- tees On up to 95 per cent of the purchase price, through the Mortgage Assistance Program of the provincial government. Eastwood = says) demand for housing will continue through 1991 as the popula- tion increases, and mortgage interest rate reductions con- tinue to make the market- jected to GST on the sale price. GST will be applied, however, to the market price of new or substantially renovated housing. GST will also be incurred on all ser- vice charges associated with a real estate purchase or sale, such as commissions, mortgave appraisals and conveyancing. These costs are con- siderably lower than the tax associated with new housing and could make a used- home purchase more viable for potential homebuyers. place available to more buyers. Now that the Goads and Services Tax has become law, the used hous- ing market will not be sub- MACTIER 421-7275 DEEP COVE — OPEN HOUSE SUNDAY 2-4 4612 STRATHCCNA RD. $348, 900 cent of the townhouses and 47 per cent of the apart- ments. Purchasers of resi- dential properties under $100,000 could qualify for per cent per unit, going sales. He pointed out that for fess than $200,000, y wate view from sunken living room, gourmet kitchen, entertainment’ size dining room. and the super size master bedroom. This special! home offers. 3 targe bedrooms and den. Plus bonus — 2 bedroom NEWS photo Cindy Goodman iniaw acccmmodation, lots of options & perfect location! To preview call! A CONSTRUCTION worker works on a building site in North Vancouver. SIASSI Res: 922-8442 : 926-9199 2407 MARINE DRIVE WEST VANCOUVER 926-6011 FANTASTIC VIEW : Large 0.47 acre lot in most & esiablished Gritish Properties area, with heated and filtered pool, @ panoranuc view of the city and g ocean. liveable house. price in- & cludes architectural plan for three levels traditional home. approved § by The British Properties and West 2 Van. Muricipality. honed, Price reduced to $628,000 Open on Sunday 2-4 CITY VIEW - 3/4 bedrooms - Charming family home 462 WEST 28TH, N. VAN. ~ Large corner lot ESI — Private fenced yard 116 W. ESPLAN nivale fen y 985-8231 ILGNA PAP a 37 a THE SEST VALUE IN LYNNMOUR * Beautifully maintained townhouse * 1528 sq ft.. 3 bedroom « Private patio and decks * = appliances Spe ensuite * Ouldoor swimming recreation + Close ty Capiano College and 2nd Narrows Bridge. Quick utcess to Vancvouver ® Nice view, come and va iW See you there 1129 OLD LILLOOET RD, N.VAN. $169,800 ILONA PAP 985-8221, $26-5213 “IF YOU LIKE ; is © 20 p, rate wing ALTAMONT ESTATE vf OME — Toially renovated ~ Rec room -— 3 bdrms, family rm - 24 of an acre 3061 MATHERS AV fe. W. VAN. et bedroom pocl and saunis far Only 3 yre aig, elem S Nearby anc much more Core ta the open and see for yourselt 743 ORWELL STREET SUZANNE POSTLE 985-8231. 985-6379