72 — Friday, February 19, 1999 — North Shore News

New home warranty
program starts soon

BUY a new home in
B.C., built after May 1
this year, and youll
have extra assurance
that you'll stay warm,
cosy and dry in it.

But it might cost vou more.
Regulations implementing kev
sections of the Homeowner
Protection Act will come into
effect at the beginning of Mav.

“A new home is the largest
single investment a famih
makes, and now families in
Bridsh Columbia can teel con-
fident that their homes and
their investments are protected
by a. third-party mandatory
warranty and licensing regula:
tions for residential builders.”
said Municipal Afiairs Minister
Jenny Kwan recently.

The regulations, developed

through consultarien with
industry, labour and home-
owner groups, are endorsed by
the Condominium Home
Owners” Assodation,
Mandatory new home war-
nancies and licensing of residen-
tial builders were key recom:
mendations of the Barrett
Commission on condominium
construction, which — heard
trom hundreds or homeowners
in public hearings last vear,

Private sector warranty
providers will be required to
meer sandards set bv legisla
tien: two years on worxman
ship and materials: five years on
building envelope — defeats,
including water penetration:
and 10° years on structural
detects.

Builders will be licensed by
the Homeowner Protection
Office. a Crown corporation

under the authority af the
Ministry of Municipal Afhirs.
In order to be heensed,
builders will need to be
approved by oa third-party
home warranty provider and
demonstrate professional stan-
dards. “The ence application
tee is SO0G, plus $25 per unit.
Meanwhile, tor homeown-
ers already doing battle with
leaks. aecdinterest. reconstruc:
tien loans are available ro
homeowners vho ean not
nance repairs to their homes.
Vo tund the interest partion
of the foan program, builders
of homes in the coastal climate
region will be reauired to pay
$750 tor every new home ina
niulti-anit project tor all puild-
ing permit applications submit-
ted after Mav}. For more
information, call toll-tree: |
S00-407-7737,

Look pasi monthly statistics

From page 47

necessarily. Consider the graph
of average selling price trom
January 1992 through
January 1999 tor North
Vancouver resale detached
homes.

This graph provides a good
depiction of how average price
has moved over the past seven
years for North Vancouver
detached homes. You can see
that average price rose quickly
through 1992 and 1993, lev-

clled off tora bit and then rose
siowly but steadily until 1998
when a decline set in. By
examining this graph we can
get < good idea of how aver-
age selling price has) been
moving and we can maybe get
a clue as to where if is going in
1999, The key here is that the
graphical depiction of a tairly
jong series allows us to look
Past the erratic monthly varia-
tions and see the underlying
trends. (Those with internet
access can find graphs like this

for other North Shore hous-
ing markets on my Web site at
ewww homes-vancouver,
com>).

So nest time vou sce an
article reporting monthly sell-
ing prices, treat it the same as
you would the Tatese quore
front Bill Clinton — be a little
skeptical, You may be able to
get some useftl information
our of the numbers bar if vou
really want to know what is
going on you will have to dig
a little deeper.

NEWS photo Mike Wakefield

Life is but a dream

WINTER on the North Shore can include water sports as well as snow sports —
this lone kayaker recently went for a paddle off Cates Park in North Vancouver.

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$1,921,000
$2,000,000

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AN INDEPENDENT MEMBER BROKER. ¢

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ROSENBERG
980-4176

$168, 900

Gorgeous 1 bedroom corner unit

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|

Outstanding value in this Prime 1
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insuite ey

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623-771

* NEW LISTING *

$117,900
v Prime Lonsdale location
v 1 bedroom wiinsuite faundry
v Concrete building
v Shows well, funky layout
v Large balcony wisouth exposure

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671-6503

RG Corner

ees 8 Bedroom - fiew

; vieticulously maintained and pariially
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home.

429 ST. ANDREWS $249,000
Offer today - Owner has bought!
STACEY NIXON 671-6503

“RN IROEPE HO

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9 817-2811

* HOLLYBURN
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tf Small fog cabin
wv Wali treed
” Trails & hiking nearby

wo

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_ AN INDE REty

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230-6287

; { $329,000 |

F:

Fabulous Farly Houe
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tm & huge sunny deck. Fuily fenced southern
exposed 66° x 127’ fot has a playhouse for the

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3828 HOSKINS RO. NAVAN.

TEMBER DR KE