66 - Friday, January 30, 1987 - North Shore News

Real Estate

Short-term mortgage
demand remains strong

THE DEMAND far
shorter-tert mortgages in
many markets has begun to
equal, or outstrip, demand
for five-year terms, notes the
Royal LePage Canadian
Mortgage Market Bulletin.
“There is a perception by
many home buyers and peo-
ple renewing mortgages that
mortgate rales may resume a
downward trend. As a
result, we've found — that
almost 50 per cent of home
buyers are taking mortgages
of two years or less. Ap-
proximately 60 per cent of
people renewing mortgages

are opting for terms of ong
year or less," notes Royal
LePage'’s residential
spokesnian,

“This is a reversal of the
trend toward longer-term
mortgages which occurred in
the spring and summer of
1986,"" adds the residential
spokesman.

As is customary, activity
in mortgage markets across
the country cased slightly
during the holiday setson.
However, in some markets
the impact of the holidays
was minimal.

This was due, in part, to a

Slight) decline in) mortgage
hates during the latter half of
December, which chcourag-
ed some people to arrange
mortgage financing, says the
spokesman,

In the commercial market,
a continuation of favorable
martgage rates is cheourag-
ing activity in many markets.

The Canadian Mortgage
Market Bulletin is based on
information from Royal
LePage’s residential and
commercial real estate man-
agers across the country who
are in daily contact with the
Canadian money niarket.

REAL ESTATE BOARD ESSAY CONTEST

NV student wins competition

CORY WADE, son of Dr.
and Mrs. L.K. Wade of 993
Wavertree Road in North
Vancouver, was second place
winner in the essay competi-
tion sponsored annually by
the Real Estate Board of
Greater Vancouver.

from schools
the Lower

Students
throughout

Mainland competed for
three cash prizes.

Cory, a 16-year-old Grade
11 student at Handsworth
Secondary, won the second
prize of $200 with his subject
of how students cope with
rapidly changing technology.
He is a member of the
Handsworth badminton
team and was also successful

GAIL
GROVES
984-9711

in that activity by placing
fourth during the fall season
in the Vancouver and district
finals.

The Real Estate Board of
Greater Vancouver has
sponsored an annual essay
writing competition for sec-
ondary students in Lower
Mainland schools for the
past ten years.

3300 CAPILANO ROAD
OPEN SAT & SUN 1-4

Changing your lifestyle? RIDGEWOOD
GARDENS offers you the space you desire -
the convenience of shopping nearby - and
leaves you maintenance free to enjoy your
leisure time. We've several! units available
where you can select your flooring colors -
Drop in to 3300 Capilano Road and make your
selection now!

ees on

PACIFIC
REAL ESTATE

1516 Marine Drive
West Vancouver

925-1135

350 KEITH ROAD, WEST VANCOUVER
Modern, Victorian style home offering 4 bedrooms, 3 baths, 3100 sq.ft. of living area
on a wooded perfectly level 12,000 sq.ft. lot in an established neighbourhood. This
premium quality smartly designed home features a spacious & flowing floor plan, for-

mal entry, sunken living & family rooms, huge gourmet kitchen, 2 fireplaces, skylites
plus a 1650 sq.ft. basement. Less than 5 minutes to Park Royal. Asking $298,000.

IMMEDIATE OCCUPANCY

TIMELESS ARCHITECTURE

Comfortaoly insulated from the bustle of
the city while only 7 min. from its centre.
§400 sq.ft. on .S ac. Perfect for both
casual & formal entertaining. List of
features is endless. VENDOR WANTS TO
SELL. Make your offer. Asking in $600's.
1247 Chartwell Place, WV.

NEW LISTING
DON’T MISS THIS

AFFORDABLE GEM!
Meticulously maintained 2 bdrm beau-
ty on large lot with fenced backyard.
Hardwood floors & cozy f/p up; 2 bdrnt~
& family room in full basement. Piu$ °
some view! Asking $119,900.

816 East 5th, Queensbury

CHOICE LOCATION
EXCELLENT
NEIGHBOURHOOD
you can't beat it. Absolutely mint condi-
‘tion up & down, in & out. Nothing to do
but move right in. 4 bedrooms, 2 baths,
fireplace, venetians, plus basement for
mother inlaw! Large corner lot in prime

“location. Asking $135,000.

404 E. 16TH.
CENTRAL LONSDALE

WONDERFUL FAMILY HOME
LOVELY SETTING.
Thoughtfully designed Victorian style
home situated in a unique setting on an
extra large-lot. Hi-lites include 3 bdrms,
2% baths, jacuzzi, skylites, 3 f/p's, 7 ap-

QUEENSBURY AVE.
Custori built 3000 sq.ft. home with skylit
entry eid spiral staircase, huge formal
dining room, sunken living room and 2
family rooms, numerous top quality ex-
tras. Asking $179,900.

GEOFF
CAMPBELL

LAURIE
WILSON
921-7971

921-8046

pliances, b.t. vacuum, venetians plus a full
bsmt. Completely landscaped. This near
new home offers excellent value at
$249,000.

Eagle Harbour

|
ADIM
KOBASEW
921-7971

RALPH
BENNETSEN
wm: 3640