20 - Sunday, March 15, 1992 - North Shore News HIGH PROFILES President used to buy as a hobby WHEN FEDERAL Finance Minister Don Mazankowski delivered the nation’s budget on Feb. 25, a document that contained numerous changes for current and potential homeowners, most of Vancouver’s media called Satnam Sidhu to find out what those changes meant. The North Vancouver resident is the manager of a Royal LePage real estate office. But more im- portantly, he is the newly elected president of the Real Estate Board of Greater Vancouver. Fielding questions about the real cstate industry from the media is one of Sidhu’s many new responsibilities. “I’m the official spokesperson for the board on any number of issues,”’ said Sidhu. But working with the Real Estate Board of Greater Van- couver is nothing new for Sidhu. He is a past member of every committee of the real estate board and has chaired several of those committees over the years. In addition, Sidhu is the past- SATNAM SIDHU, president of the Real Estate Board of Greater Vancouver and manager of a North Vancouver Royal LePage real estate office, goes over figures with realtor Terry Tang at their Park and Tilford office. By Surj Rattan News Reporter president of the North Vancouver division of the real estate board. Born in India, Sidhu moved to Canada with his parents when he was 4% years old. He grew up in the Vancouver Island community of Lake Cowichan and has lived in North Vancouver for the past 14 years. : But he has not always worked in the real estate business. Pollu- tion-related issues used to be Sidhu’s livelihood. “I worked for the federal gov- ernment for Environment Canada in pollution control. 1 didn’t enjoy it, and one of the reasons was the limited income,”’ said Sidhu. “I used to buy and sell proper- ties for myself, and 1 enjoy that type of business. So I thought: ‘Gee, why don’t I get paid for do- ing it?? So I quit my job and got into real estate."’ But Sidhu no longer sells real estate. As the manager of a Royal ‘LePage office his main responsi- bility now is to support his sales staff. “Royal LePage’s policy is that managers do not sell reai estate,”’ he said. Sidhu said that because of the low interest rates, the time has never been better to buy 2 house. And one of the best locations to buy a house, he said, is right here on the North Shore. **The North Shore is very brisk right now. There were record sales in North Vancouver in February. There used to be a time when the west side of Vancouver had the highest priced homes, then West NEWS phuto Mike Wakeitaid Vancouver, and then North Van- couver. “You can't lose in the long run. Prices won't be any lower two years from now than they are to- day. Even if the prices are $2,000 or $3,000 less, look at the interest rates. That’s where the biggest savings are.’’ Sidhu has spent his entire real estate career working on the North Shore. Before moving to North Van- couver he lived in Burnaby. He said he enjoys the North Shore lifestyle and wouid not consider moving. “I think the North Shore has a lot to offer. From what I have seen it has one of the best sets of community life, as opposed to go- ing to the other side of the bridges. “ think North Vancouver still offers that while...being close to the city. I just sold my home and bought another one, but I still live within a 10-block radius because 1 @ NAME: Satnam Sidhu @ AGE: 42 @ OCCUPATION: President, Real Estate Board of Greater Vancouver; manager, Royal LePage Residential Real Estate Services (Park and Tilford office) @ RESIDENCE: North Van- couver @ BORN: India e@ FAMILY: Wife Julia, one son, one daughter @ EDUCATION: B.C. of Technology Tastitute want my kids to go to the same school. ‘‘My parents live in Burnaby, and they said I should move to Burnaby. Well, I said: ‘1 don’t want to live in Burnaby. I want to live in North Vancouver. Besides, my office is here.’ ’” In his own words | } Is it a good time buy houses?: “Yes, I think it is. The interest rates are the lowest they’ve been in 20 years. In the whole time that I’ve been in real estate I’ve never seen five-year money at the rates that we have now. ‘Before we didn’t even have 10-year mortgages. Now we have 10-year mortgages and on a 10- year rate that’s 10.5%. “For a home to live in for yourself there is no better invest- ment as far as I’m concerned. It’s tax-free money.”’ Is the real estate business a money-maker for the real estate agent? ‘‘In real estate you can make lots of money or you can make no money. It all depends on how hard you work. In real estate you're basically working for yourself, ‘Don’t get the impression that everybody makes a lot of money in real estate because, believe me, they don’t. If that was the case then there wouldn’t be 2,000 peo- ple who drop out of real estate in B.C. each year. That’s why the turnover is so high because most people don’t do so well. “It’s all commission. Can you imagine if you don’t sell a house for two months? That means you’ve made nothing for two months.’”. 905 . What do you like to do to relax. when you're not working?: “I still -.- * go camping; I have a trailer, and I- go camping with my family. I. us- ed to play a lot of sports, but I don’t have time now. I used to play hockey twice a week, baseball and golf. I still enjoy cross-coun-- try skiing.” : What do you think of. monster houses?: ‘*As long as they fit into the neighborhood then _there’s nothing wrong with them.. The difficulty comes-in when you put a house that is 24 storeys high next door to a little one-level house. That’s where the problem comes in. : “But the bylaws were created by the city and the district, and people build to the bylaws. “On a big lot a big house ‘is - fine. If you have a %-acre lot, that’s almost 11,000 square feet. That’s a big lot so you can build a big house.’ The North Shore News and CISL 650 are pleased to ‘sponsor the premiere of a great new family movie... Beethoven 7 p.m. Thursday, March 26, Oakridge Cinemas. Drop off your entry at our office or mail in your entry addressed to: ‘‘Beethoven’ 1139 Lonsdale Avenue North Vancouver V7M 2H4 ‘Taam VERDE OF WOT et AneD WERT eEASCOLVE SUNDAY» WEONTEDAY « mDAY CiSLA6S0 VANCOUVER’S OLDIES STATION Yes, ! want to win a family pack (2 double passes) to the premiere of Beethoven Name: Address Winners will receive their passes in the mail. One entry per family. Postal Code: Deadline for mailing or dropping off entry is Thursday, March 19, 12 noon.