So 40 - Friday, June 14, 1985 - North Shore News Mood is optimistic for housing resales INDUSTRY experts say the mood is one of cautious op- timism for the resale housing market in British Columbia after an increase in sales volume in January and February. That’s one of the conclusions drawn from the spring issue of the Royal LePage Survey of Canadian House Prices. The quarterly cross- Canada survey tracks hous- ing prices in six categories: detached, three-bedroom bungalow; detached, two- storey, four-bedroom home; standard condominium townhouse; luxury con- dominium townhouse; stan- dard condominium apart- ment; and luxury con- dominium apartment. “Sales activity was good in January and February, but slower in March,”’ say Ozzie Jurock, Vice President and Divisional General Manager for Royal LePage in British Columbia. “Because of the high home selling prices in Vancouver compared to the rest of the country, an increase in in- terest rates has much more impact,’’ explains Jurock. “This is especiaily true for homes at the lower end of the market and for first-time buyers,’’ he adds. In Vancouver, house prices in most parts of the city declined steadily last year but have held their own or inched up slightly since then. In East Vancouver, luxury condominium townhouses are back up to $124,000, where they were last April, after dropping as low as $117,000 in October. “AIL areas in Vancouver Shop wisely for mortgage From Page 21 period and set @ payment routine corresponding to your pay period, the weekly pay option gives you the con- trol to pay more often than ence a month. Mortgage payments can be made week- ly, every two weeks, twice a month or monthly. By in- creasing the payment fre- quency, you can save literally tens of thousands of dollars in interest. 4 DRAMATIC PRICE REDUCTION To a low $710,000. Owner still willing to take local property as down pmt — carries entire balance. Just consider this: 24 beautiful 2 bdrm suites. All air conditioned & double glazed. Parktike setting large enough to build another 24 units. Gross inc. $403,000 net $71.000 — wif] be a minimum of $83,000 within 1 year. TRADE You! $149,000. Try $15,000 down. GEORGE WEINHAUPL 922-1111 (res.) 986-9321 (off.) That's pineapple with a “W"! In the most prestigeous location of upper Lonsdal lot less trouble. ist time offered to discriminati R HOME And live rent free. 3 2 bdem., stes, balcony. fireplace, view. Income $1510 p.m. F.P. Shop wisely and selectively for your mortgage. Look toa financial institution that can offer a wide range of mar- tgage options and terins of payment which can meet your financial require ents. {f you now have a mor- tgage, you may be able to transfer it at small cost to another lender. For further information contact the loans officer or manager at your nearest branch. "24 SUITE BEAUTY le. Better cared for than a new born baby, but a ing buyers. Just 8.1 times gross of $147,000. Please i eh 12 SUITE GEM Beautifully renovated trom top to bottom. Ter- tific cash flow from handpicked tenants. No cats, dogs, children. etc. ist time offered. Gross $36,720, net $26,000, full price a caltry $219,000. Try $35,000 dn or trade your propes- ty, in need of repair or otherwise. Over 1.5 acres. Close to new shopping centre. SUPERB 14 SUITER with a giant sized 3 bdrm ste for owner, 5 two's and 8 spacious 1 bdrms. Special zoning allows future - highrise. Try $100,000 down to $590,000. F/P. Buy now and con- gratulate yourself forever after! teport increased sales activi- ty,” says Jurock. **Even the slow North Shore and West Vancouver markets seem to be recovering. Kerrisdaie, Coquitlam and North Van- couver have experienced a surge of demand,” he adds. In Victoria, condominium categories have increased in value, while detached hous- ing categories report little change. Here, luxury con- dominium townhouses mov- ed from $120,000 to $118,000 between April last year and January, 1985, but increased to $125,000 by the end of the first quarter. In Kelowna, Penticton, Kamloops and Prince George. prices have remained steady for the last quarter. Sales in the Kamloops area this spring have doubled. “If interest rates don't in- crease, we expect both resale values and the volume of sales to increase by around 6 percent,’’ predicts Jurock. “With all of the Jarge con- struction projects going on in and around Vancouver — Expo ‘86, the ALRT and the Convention Centre— we are looking forward to a general upswing in the economy,” he adds, Resale values quoted in the survey represent market values of typical homes and are compared to fSigures reporied 12 months ago and six months ago. The survey teflects Royal LePage’s estimate of fair market value in each location, based on data and opinion supplied by real estate personnel across Canada. GROUP. ‘West Coast Realty - AN EXCEPTIONAL INVESTMENT in : OPPORTUNITY 7 e Prime Concrete Hi-Rise Apartment : All View Suites ' Positive Cash Flow . 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