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26 - Friday, March 7, 1986 —

117 REAL ESTATE

Classified Ads mean results. Call

986-6222 for more information

PERSONALIZED REAL Estate

Service. Total Commitment. Call

Fernando Lartey, 9B 8627 or
in

0
118 APARTMENTS

“LUXURY APT” $115,500
OPEN SUNDAY, 2-4:30PM
#1004-650 16TH, WEST VAN
Soft pastels. bronzed mirrors add
space & charm to this 1 bdim
ocean view apt. Completely
temodelied. Sunny atrium off din-

ing room, enclosed balconies.
MARY ELLIS, 925-1880
SUTTON GROUP W.C.R. 986-9321
LUXURY 2 bdrm & den N.Van.
1,423 sq ft. F/P, 2 baths, Ige kitch,
7? appli. Pets welcome. Sec pkg.
Avali now. $119,500. 922-4212.
WHAT A DEAL!
For sale by owner. 2 bdrm apt.
Bright, sunny, very good cond.
Exc location, Cedarbrooke Apis,
NAV. 2nd fir. Close school. shopp-
ing. public transp. Pool, pub on

FT CONDOS &
TOWNHOUSES

FOR SALE by owner, “Heritage in
The Woods”. Open house 2-4pm,
Sat & Sun. 1073 Heritage Bivd.
984-8379.

HERITAGE (N THE WOODS
Best located unit! 2.400 sq ft. 3
bdrms, 2 full baths, two 2 baths.
New custom finished bsmt wi
Jacuzzi & wet bar. Loads ot
Storage! Private sun patio.
swimming pool. All for %125,000.
Quick sale! Open Sunday, 1-4pm
Cail 980-0778.

ON THE WATER - BY OWNER
1502 sq ft of luxury living in Har
bourview Park. 2 bdrm, 2 ful
bahis & 2 fevels make this ideal
for family or sharing. All appi's.
oak & brass finish, video security,
elc. Steps trom Seabus & new
Lonsdale Quay market. Only
$153,900. Call 681-4024 and leave
message. No agents.

WHITEROCK AREA. 2 bedroom
exec townhouse. $124,900.
Owner, 536-0590.

YORKWOOD FARK

TOWNHOUSE FOR SALE
3 bdrm 3 tevel home in ideat
location, abo view & sunny,
orivate_ yard. nm at weekends.
Phone ob7-7064.

SN [0
poop a

North Shore News

Where should Grandma go?
How about this classy bachelor

suite near Ambelside. Bright &
sunny, concrete highrise = with
good security, u/g parking, pen-
thouse entertainment surte,
loads of real nice neighbours It's
nly $64,900. Call about it!
SHIRLEY ROBB, 687-1985(#7251)
_CREST REALTY LTD, 985-1321 _
2 SDRM ensuite. Ground level.
1,064 sq ft beauty. 1147 Lillooet
Rd. No agents. 984-6428

2 BDRM townhouse, fully up-
dated. Oak floors, 172 baths, tip,
patio. 2 pools. gym, sauna.
$119,500. 922-3787.

931 HERITAGE. $117,000
OPEN SAT, SUN, 2-4PM
Lovely, private & quiet. 2¥% baths,
family & den. Move right int Pool!
Terry Robb, 987-5600: Mitten Re-
altv. 9BR-1175,

121 HOUSES

AT THE WATERS EDGE
Conternporary P&B in quiet tran-
qui setting, with a spectacular
view of Howe Sound & the
sunsets. 3 bdrms & ‘guest wing’.
giassed-in patios. A view fmm
neatly every room.

NONE BETTER!
You'll never want to again when
you move into tnis superb {Quality
suite in “The Crescent’. The
focation is ideal by the beach in
Ambleside & the quality is unex-
celled. $179,900.

WARKE AGENCIES, 667-3183
DENIS LEVY, 681-3183 (24 hrs)
BY OWNER. $109,500. 1,200 sq ft
full bsmt home. Separate dining
room with view & Ige family cm.
Large. private, fenced yard. 980-
1895. No agents. please!
BY OWNER. Last chance!
Bayridge. 4 bdrms, new kitchen &

decks. 3,200 sq ft. Pool. Low
$200's. Open Sunday, 2-49m.
922-6411 eves.

Advertisement

AUG 1ST COMPLETION
LYNN VALLEY INVESTMENT

3 bdrm rancher - 1100 sq ft. Put a

tence up in tront & WOW! You

can't beat the value! Over 10,000

sQ ft level lot. Private backyard

$80's.

DOUG CRONE, 922-5104
CREST REALTY, 985-1321
BEST BUY!
CAPILANO HIGHLANDS
Bnght 3 ddim. Freshly painted
inside & out, remodelled kitchen
& bathrm, farge sunny Jot. Watk-
tng distance to Village This price
can't be beat! $115.000. 986-2636,

986-8880
OPEN HOUSE

SAT & SUN, 12-4PM
BY OWNER. Deep cove, 1.300 sq

ft 3 bdrms, tec room, easy-care
fot. Like new! $95,000. 929-5771.

CENTRAL LONSOALE
425 EAST 18TH. $109,000
Spacious, well-maintained. 3
bdims, full osmt, on large lot. Exc
min view. Open Sun, 12-4pm. By

owner, 984-8356. No agents.

EXCELLENT STARTER 2 bdrm
with den. Near Lynn Canyon
Park, school & bus 1783 Peters
Ad, N.Van. Only $122,900. No

agents please. 986-6625.

EXECUTIVE HOME, $210,000.
HW heating. R20 insul. 3 bdrms,
den, full bsmt. Tempe Knoll Sub,
N Van 299-2834. 987-0522

LARGE LOT
OPEN SUN 2.4PM
4041 PROSPECT, N.VAN
investigate the potential of this
older home on its targe lot!
Ready to move in! Pertect situa-
tion for a builder with new home
in mind! See it this Sunday!
CORBY CROSSIN
SUSSEX GROUP
SRC REALTY CORP
984-9711

OCEAN VIEW, AMBLESIDE
character house. 3 bdrms. Situ-
ated on south-facing 84x140" lot.
Tastetully updated & beautilully
maintained. $168,000. 1142 Gor-
don Ave, West Van. Open house
Sun March 9th, 2:30-4:30pm. For
further info, 926-8890.

PRICE REDUCED! 3 bdrm starter
home, good location. Fully fenc-
ed yard. Asking $92,000. Open
Sat & Sun, 2-4pm. 984-7771, 986-
6002. 786 East 13th St,N.Van.

Affording * Your First Home

By Harold Dueck
Royal LePage

Fluctuations in interest rates,
concem about the economy,
and the publicity concerning the
high average price of homes in

major cities have combined to

e many Je bulieve own:
ing a home fs out of their finan-
cial reach.

However, many concems of
potential first-time buyers are

gely unfounded, or can be
overcome with the help of a
good real estate sales

resentative.
ability to afford mort
payments often worries first-
time buyers needlessly because
lenders are very careful not to
allow buyers to assume mor-
tgages farger than they can
The manager at your

bank, trust company, or credit
union can help you to determine
how much you can afford to
pay for a home.

onventional mortgage
lenders have strict lending
criteria — the generally-
accepted ratio Is 30 per cent of
total family income can be u
ed for housing (payments for
the mortgage principal, interest,
and taxes).

Having determined what you
can afford, the next step is to
look at the market. Published
housing price statistics often
use the “average” price of
homes sold in the area. Unfor-
patel Ae these statistics include

any igh-priced houses that
would not be considered by
first-time buyers.

The “median” pnce of homes,
on the other hand, is a far more
accurate indication of sie true
value of an ical house because
itis the mid-point of all selling

prices, Fifty per cent of homes
sell for less than the median
price and 50 per cent for more.

some cases, the median price
is as much as $25,000 lower
than the average price.

For instance, in Toronto, the
“average” price of residential
property is over $100,000. At
curnent interest rates, an income
of close to $40,000 a year is re-
quired to purchase a home of

is value. However, at any
given time over half the homes
in Toronto se"! for fess than
$90,000.

Similarly, the average price of
resale homes in Edmonton is
approximately $85,000, which
coupes a family income of

$34,000 a year. But the median

price is closer to $65,000 — a

ome that can be carried with
a family income of $27,000.

The situation is the same in
Nearly every community across
Canada.

How large a down
payment

The next imaginary hurdle is
the size of the down payment.
A common down payment is
25 per cent of the value of the
house, but this is not always
necessary. Many lenders require
a down payment of only 10 to
15 per cent, for what are known
as ‘high-ratio’ mortgages.

In addition, there are still a
number of government pro-
grams such as the Registered
Home Ownership Savings Plan
(RHOSP} that offer first-time
buyers ways to save money. A
$1,000 contribution to a
RHOSP can represent a cash
retum at tax time of $300 or
more, Even if it is necessary to
borrow the money put into a
RHOSP, the benefits of reduc-
ed taxes and forced savings

the cost of the foan.

In choosing a first home,
many home buyers set their
sights too high. Remember that
your first home is not your last
or ultimate home. A typical pat-
tern for home owners is to
make a reasonable first pur-
chase, build up equity, then
trade up to a larger, better
home.

It takes time to purchase the
home of your dreams, so com-
promising on the location or
size of your first home should
not be a serious drawback. For
instance, a 1,100 sq.ft.
bungalow is larger than most
rental apartments, has a base-
ment and a backyard for addi-
tional living space and offers all
the traditional advantages of
home ownership, such as
privacy and long-term security,

Doing a thorough ¥ review of
what you want in a house, what
you can afford, and what is
available should lead you to the
conclusion that home owner-
ship is not out of reach.

Most professional money
managers and investment
counsellors agree that renting
an apartment offers no securi-
ty and, with rising rents, it
ultimately costs far more than
buying a house. When you pur-
chase a home, the payments re-
main the same over the term of
the mortgage, you build equity.
and eventually own the home
outright. And there's no better
financial security than owning
your own home.

outwei

Harold Dueck is the branch
manager o; the Royal Lepage
North Vancouuer office at 133
West 15th Street, North
Vancouver. For more infor-
mation, please contact Hareld
Dueck at 985-8231,

SEYMOUR AIVER. Large 2 bdsm
home with fully developed psmt
Situated on two 33x%22' lots
$140,000. Elizabeth Nelson 294.
3389, 291-9984

UNIQUE PROPERTY
$152,900
Completely renovaied on two
50%120' view lots. 2.000 sq ft
finished. 3 bdrms, 1% baths up,
bdim, bath, rec room/tat down
Easy conv. {o suite. Many special
features. Ideal young prof. cou-
ple. Open Sat/Sun, 12-4 980-4126
3 BORM, 1 owner home. Cental
Lonsdale. 1,100 sq ff on main
with finished osmt. Easy conver-
sion to ste. Reasonably priced,
$115.900. Lindsay McDonald. Bay

City Realty, 986- A371.

BOWEN ISLAND. 3 barms.
southern exposure. $66,000 firm.
No agents. 1-947-9796.

125 RECREATIONAL
PROPERTIES
WHISTLER MOUNTAIN. Save
$15,000! Private sale. Brand new
1,400 sq ft cabin, close to gon-
dola. 3 bdrms, 2 baths, 4 appl, tip,
view. 988-0111 eves, 688-0052

wor

126 LOTS & ACREAGES
BUILDERS. BEAUTIFUL view fot

for sale, upper Grand Blvd. 985-
5050. No agents.

BUILDING LOT, Lynn Valley.
Good neighbourhood. $72,500.
Vadim, 925-1135) or 922-3452
BUILDINGS LOTS! Fantastic
view! Delbrook. location, fully
serviced. Start building that
dream home, $106,000. Or 6 lots
in creekside natural setting at
$84,900. Details, Craig Clark,
980-3268. Mitten Realty, 988-1175.
SUPERB WEST Van lot. Large,
level. sunny. Pool site, future
view. Peak of Caulfeiid Plateau.
$112.000. Phone 926-5843.

128 INDUSTRIAL,
COMMERCIAL, INVEST.
WAREHOUSE, NORTH Van.
12,000 sq ft. Rental income

1 rannym 186.
139 REAL ESTATE
WANTED

LOT BETWEEN Lynn Valley &
Capilano. Min 50° trontage. No
agents. 986-3176.

a
* Gold Moffat trage
. condition. $2 0
\ Songet 15 cot
. eu QOS

7 mt gp finer

» & stove, good
each.
yreezet,

Ken-mcré
$350

Mrs. Stanwood sold
‘a dishwasher that
wasn’t for sale.

Wrea Mrs. D. Stanwood of North Vancouver decided to hold
her own appliance sale. it was more like a fire sale. In almost
no time. she had sold her fridge, stove and freezer, but those
hungry buyers kept calling So she sold a dishwasher, too. Mrs.
Stanwood considers her sale to have been somewhat of a suc:

cess To write your awn classified success story, call:

GREAT

Bact

A

2 bdrm. from $95,000

} bdrm from $75,600
9.75% financing
5% MURB

E ROVAL LePAGE

986-6222 news |

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ThE VONCE OF NORTH AND WEST VaRCOUVER

‘ north shore...

SUNDAY - WEDNESDAY » FRIDA’

love of the North Shore went into these quality condominiums which offer
you a secure, convenient and quiet lifestyle. From the mountain views to the
active harbour activities, the Royal Kensington sits ideally to take it all in.
Whether you're enjoying the exercise room and whirlpool, entertaining your guests,
or relaxing at sunsets experiencing the spectacular view .. .

There’s no place like the North Shore.
Tnere’s no place like the Royal Kensington.

Open daily 2-5 except Friday -
Open Fridays by appointment only

These were built for you!
free Interior Design Consultation

Francoise Band
Ken Hawes

444 Lonsdale Ave.

985-9544