FROM PAGE B16 asset. What’s happening in the real estate market today? C.t. ‘*Chuck’’? Mitten, president of the Real Estate Board of Greater Vancouver, and president of Mitten Real- ty Ltd., starts us off with promising statistics: FRENDS In Greater Vancouver dur- ing February 1,390 housing units were sold, an increase from 1,241 in February 1983. Dollar volume was up seven per cent in February over the same month a year ago. ‘‘At the start of the year we anticipated a ten per cent in- crease in total volume, and this remains our estimate,’’ Mitten told us. ‘‘Had interest rates not gone up we would have ex- perienced an increase in the price of houses by now. In- terest rates over the next few months could fluctuate, and could very well go down,"’ Mitten continued. ‘‘But they will be offset either way by the average price.”’ Who are the house buyers on the North Shore? ‘*These are mainly second time buyers,’’ said Mitten. ‘‘Many have had a house before and are moving up or moving into more suitable ac- commodation at the same price range. ‘*First time buyers in many cases are going to the (Fraser) Valley.”’ Mitten observed ‘‘there are not too many investors in the market at the present time. Noe tera ') ONE DEAL THE i' BoarRp WouLp | APPROVE OF of thre board Generally speaking, the financial houses are not len- ding money for speculative buying. ‘“‘The general trend is toward better real estate times across Canada. Only two regions are not showing improvement, Nova Scotia and Newfoundland, and (even) there volume is stable.’’ Bill Ryan Chris O’Brien, general manager of Sussex Realty Corp., reports January and February were ‘‘very good months.... there was lots of activity in both buying and selling. March was good but a touch less active. ‘“‘North Vancouver was much more active than West Vancouver,’? he observed. ‘*Properties in the beginners price range are receiving more attention. That is, more or less, first tinte buyers.”’ While the public are ‘‘withdrawing’’ a little due to labor problems and unemployment, O’Brien noted that there is ‘‘some in- vestor and some builder ac- tivity, so this suggests a measure of confidence’’ in the market generally. Lionel Lorence of Bell Realty offers an interesting observation about the masket. ACTIVE MARKET ‘*All (house) buyers are ac- tually sellers. But a (poten- tial) buyer has to sell his house first. Once you sell one house, sometimes six or seven houses will move.’’ Home buyer ‘‘interest is there,’’ he continues. There is considerable interest in houses in the lower price range, but people are con- cerned about labor unrest and security of their employment. “If labor unrest stabilizes we'll be in for a very good market,’’ Lorence believes. ‘‘Interest rates are a recognizable problem, but not a deterrent. A rise of one to three per cent in interest rates is not a deterrent, in my opinion.’’ People adjust their expectations to interest rates, he said. DEMAND Lance Tracey, president, Sutton Group, West Coast Realty, feels there has been ‘‘a pent up demand’’ for é Nate ocr te rete Ce tater abort che caster puve TL bee Povipere ss Phere bs Puasitve ss Peach apee bh verte che corti fiber e Tha de alas availa leo te May bo T9°N4 Arad tras lead Sorte bere hast twee cooftee bre ck thre tce fttap fort and toe f ype seritatvcns vids Wirid bace sease tooo pertecthy Uiaete cdots Voce M4 pot eEO Ne pee Tritt tort oous The t Hlapebe ys dy Vuatacdy for cee. cel troy satlitag te spr opepeag Whe bh past oes fo prowe ven car mux business weeh pleasare bor more vformaticua call coll tree che Coroup Sales [Desk | wel BOO KH 744? Vee qeerace boot le va ‘ pee ete. The Empress Nets Dayan reba SAN Your frends in the right plac Cs CP Hotels {4 Ths vty Bader cote Phat tas babe Loree. NY. M4 bred Mfostre s Peeerb or saggy Coe bres Vates | Pdacde Paay, Torres Toa Rivseren Victoria bratk fire Ptansbaurp Bremen (Spring LYAS) ferunalern and Libs cias ic) | ay th state investment houses for the last two years — ‘‘and it extends right across the board from Starters to ‘empty nesters’ (‘empty nesters’ being couples who have not yet started a family, or whose children have grown up and left home.)’’ ‘‘The market has been brisk and we look for an ex- ceptionally good year,’ he stated. *‘There is the best selection of properties available that we have had in a long time,’ continued Tracey. ‘‘And the prices are reasonable.’’ He indicated investment buying is at a low level: ‘*There is less of a speculative side to the market and more emphasis on utilization of the properties.’” Any new trends in the market? Tracey comments that trends develop slowly in the real estate business — they have arrived and are a reality before they are recognized. ‘‘| think we've got a level market in terms of prices, says Barbara Sawchuk, manager, Canada Perma- nent, in North Vancouver. ‘‘1 don’t see a jump in prices. B7 - Friday, April 6, 1984 - North Shore News Actually, we've seen a decrease, a small one, in the price of houses in the low $100,000 range.... perhaps five per cent. ‘‘First time buyers are ner- vous about interest rates. | don’t think they will go very high, another point or two, maybe.”’ STEELHEAD RESOURCES LTD. ADVANCE NOTICE OF ANNUAL GENERAL MEETING NOTICE is hereby given that the Annual General Meeting of STEELHEAD RESOURCES LTD will be held on Thursday, the 28th day of June, 1984, at the hour of 11:30 o'clock in the fore- noon (Vancouver time), at which time it is proposed that direc- tors of the Company will be elected for the ensuing year. Members are invited to make written nominations for directors of the Company. If any written nominations for a director signed by members holding in the aggregate not less than 10% of the outstanding shares of the Company having a right to vote at the meeting, are delivered to the Company’s Registered Office, 10th Floor, 595 Howe Street, Vancouver, B.C., on or before the close of business May 24, 1984, accompanied by information about the nominee required under the Company Act. the Company will include the name of the nominee in the Information Circular sent by the Management of the Company pursuant to Section 177 and.178 of the Company Act. A person may be disqualified from becoming or acting as a direc- tor by Section 138 of the Company Act. No additional qualifica- tions are imposed by the Articles of the Company. DATED at Vancouver. BC this 2nd day of April. 1984 BY ORDER OF THE BOARD “Nin Quan” Secretary ond beige and brown spring weit slacks and ‘2 pair - ‘of dress ‘slac “565 Howe Street. Mancouver 682-6771.