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PAGE 12, WEDNESDAY, MAY 5, 1982, WHITBY FREE PRESS INVITATIONS RFA( 1$TAII tI8MIII C0 RiAt I10P A.E.IPAGE (ONTARIO) LTD. • REALTOR 601 DUNDAS ST. W., WHITBY 16¾ % FINANCING IN WHITBY - 1 year old home, immaculate, 5 appliances, large mortgage. Call GARRETT DOWKER, 666-1333. EXECUTIVE SIDESPLIT - WHITBY - Bright spa- clous family room, large foyer, finished basement, fenced lot, good long term financing. $94,900. Ask for GARRETT DOWKER, 666-1333. QUIET CUL-DE-SAC $84,900. - Nicely decorated 4 bedroom 2 storey home. Vendor will assist financ- ing. Double attached garage and giant deck patio. Cali GARRETT DOWKER, 666-1333. $64,000 FIRST AT 15½ % TIL 1986. - Beautiful f ive sided kitchen with walkout to completely fenced yard. Immaculate with many extras on a cul-de- sac. $119,900. Cali GARRETT DOWKER, 666- 1333. Now is a good time to buy a I y economy and granted it real estate is moving prices had dropped by DOWKER has touched us all to and houses that are 10 to 15 per cent, age R.E. somë degree, however, I priced right sell every depending on the type of een hearing would like you all to day. accommodation. Under- lately about know that despite Real estate is a com- standably purchasers ate of the rumors to the contrary, modity and as such fluc- resisted the added hur- dllor. tL 4LAdi b thp 901 SIMCOE ST. N. OSHAWA 571-3111 tuates with the market- place. That is, it is simi- lar to gold, diamonds, pork bellies or coffee and even if these items are not something we trade in every day we do know that they have their highs and their lows. The point is, real estate also has its highs and its lows. For example, last spring housing prices in the Durham Region had an enormous increase of about 25 per cent. By the summer, activity had slowed in contrast and house prices hovered at its peak. Interest rates had reached unpre- cedented levels and the tap of purchasers was quickly drying up. By December, selling wes creae Le y 1.3 e higher interest, but also they feIt that the asking prices of home were not reflecting true value. Therefore, like any other commodity wlbere the value is in question, real estate prices fell. Many people with homes on the market failed to acknowledge that prices were falling and of course resisted every effort made by their agents to adjust with the market. This, of course, only added to the inventory of over- priced homes and helped to create an ever, worsening , situation with the influx of new listings coming on the market for spring. Incidentally, the WANT A MORTGAGE FOR 13-118% TIL MARCH, 1985? - Then this executive home is Just the one for you. Lot size Is 75' x 230'. Home is mainte- nance free. Four bedrooms, large family room with fireplace, double garage, plus many extras. Asking $98,500. Call Kay Brown, rep. 686-1035. B GARRETT, A.E. LeP We have b a great deal the poor st an excellent time to sell because it is an exceli- ent time to buy! TYPEWRITERS Rentals",For Office Students DA NFO RT H TYP EW RIT E R Rentals, Sales & Service 408 Dundas St reet West 2940 Danfoirth Ave Whit b Toronto 666-1131 est 1930 698-2589 house majority of new listings which we see today are priced with a view to last spring's boom. This may sound terri- ble to this point, here we have all of these homes and nobody to buy them. Correction ... there are plenty of purchasers waiting in the wings. Vendors can sell their homes but they must un- derstand that the pur- chaser must find good value for his dollar. Value can be found in different areas. The ob- vious is asking price. Selling prices have not improved since Decem- ber. Not so obvious, but perhaps more impor- tantly, is the available financing. Sellers who are presently successful are becoming more ac- tive in terms of financ- ing. That is, they will hold second and third mortgages. In Most cases these are dis- counted and sold so they can get their cash out. In some cases, the aggressive vendor will encourage the pur- chaser to arrange a new mortgage, but he will assist them by prepay- ing some of the interest for the purchaser so that carrying charges are not so difficult. This is known as a "buy down." A lender with a large mortgage, perhapsjU'st renews at 191 per cent and finding it difficult to carry, can offer to "pay down" the existing mortgage to a more competitive rate, thus making his previously "unsaleable mortgage" become very acceptable and at the same time avoiding a discharge fee if he was asked to pay out, i.e. pay up the mort- gage in the event of a sale. Very well, now you say that the vendor has given his property away. He sold for much less than his neighbour did last year at this time and in addition he has had to hold a mortgage or take a discount. But wait, let us go that extra step. He is no longer en- cumbered with a property to sell. He can readjust his lifestyle up or down to accommo- date his means or relocate freely. But just as importantly, he now becomes the purchaser and believe me when he sees a new home with real value he can nego- tiate and make for him- self an excellent pur- chase from a vendor who, like himself, un- derstands the market- place and is willing ta mnake concessions. Simply put, what seems like loss of equity by selling is made up by the opportunities to buy at attractive prices and terms because of the competition for your purchasing dollar. It is REDUCED DRASTICALLY - 3 bedroom, brick bungalow, finished rec room and bar, 4th bedroom and washroom, carport on nicely landscaped lot In good east area. Now only $65,900. Cali Rob Robertson, 571-3111 or 725-4048 aflter hours. OSHAWA $49,900 - Two storey brick home recen- tly renovated, 3 bedrooms, 1½/2 baths. If now rent- ing, try a low down payment on this home today. Cail 571-3111. WATERFRONT IN OSHAWA - Bungalow with liv- Ing room overlooking lake and your own private beach. Lot 65 x 123. Just listed with Rob Robert- son for only $55,000. Call 571-3111.