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WHITBY< FREE PRESS' WEDNESDAY' MARCH 9' 1983, PAGE 1.4 IREAL STATE>NEW w Now is a good time to buy your home. accountant By ALAN C. GUNN, CA Syndlcated Columnist Is right now agood time to buy a -home? Many experts think that lU s. The real estate mar- ket has been going tbrough a relatively de- pressed- period since mid-1981, when soaring inteiest rates brought an end to the so-called boom of 1979 and 1980. It's safe to assume that -many young couples on the verge of home-buyrng were scared away by the combination of high mortgage interest rates Af ter twelve months in the doldrums, the residential property market is finally showing some en- couraging signs of a mo- dest revival in most areas of Canada, accor- ding to the Century 21 national real estate net- work. The 325 offices of the real* estate franchise system across Canada reported sales volumes during the last quarter of 1982 that had not been experienced since the market reached its peak i the su.rmer of 1981. As a -national average,, completed property transactions were up 14 per cent in October, 50 per cent in November and 40 per cent in December over the same period a year earlier, for a fourth quarter increase af 33 per cent. "The volumes are back to where they were 18 months ago, " repor- ted Blair Jackson, Exe- cutive Vice-President of Century 21 Real Estate Canada Ltd. , "although the values have dropped considerably in some areas." The highest fourth quarter increase in completed transactions occurred in British Columbia and Saskat- chewan, who both reported gains of 115 per cent over a year ago. The Atlantic provinces averged increases of 53 per cent, while Ontario was up 25 per cent. Century 21 offices were only established i Quebec during 1982, and no comparable historic- al records are avallable. Manitoba resuits were similar to 12 months ago, while Alberta and high prices, while investors were drawn by the same high in- terest rates to other forms of investment. In recent montbs, however, interest rates have come down to the point where first mort- gages are now being of- fered for> under 13 per cent by lending institu- tions. While this is flot as low as rates have been ini past years, it is still a more manageable level for most people. At the same time, it does flot appear that real estate prices, which fell as the market tur- ned down, have, yet showed a loss of 30 per cent. "Since there is typic- ally a 30 to 60-day time lag between the writing of offers and their final conclusion, the data in- cicates that the resur- gence actually com- menced in September,1" Jackson noted. The Century 21 nation- al survey also suggests that the increase in acti- vity will at least be sus- tained for some months. "New written offers were up 40 per cent in December over a year ago, and preliminary fi- gures for January con- firm that the trend has continued.'" "To some extent," Jackson commented, "the Federal grant pro- gram of $3,000 to pur- chasers of existing homes, that expired December 31. contribut- ed to the improvement in market activity, but it was probably' more im- portant as a catalyst to stimulate a virtually dormant condition. Each sale initiates a chain reaction that can involve a number of properties." "A much more posi- tive aspect was the drop in mortgage interest reacted to the lower mortgage rates. In other words,, we may now be in a period where both. properties and mortgages are af- fordable - a time when bargains are available. It is possible, of cour- se, that interest rates have not yet bottomed out in this downward cycle. Some economists are predicting further declines of perhaps as much as one or two per- centage, points within the next six months. The danger in wait- ing, however, is- that as the market itself be- cornes more active, rates, and in some areas housing costs. This returned. the afford- prices wiil rise. As interest rates de- dline, investors' may weil move back into real estate as a traclitionally safe and profitable in- vestment. Some exper- ts, ini fact, are predic- ing a renewed real estate boom within the next couple of years. In summary, then, this winter may be the best time in recent years - and perhaps for a few years to come - for prospective home- buyers to take the plunge. Do not forget, how- ever, that the funda-- mental rules of caution ability of housing to a greater segment of the population. " REGUSTER, CONTINUOUS9 CARBONIZED & MUSC. A COMPLETE PRINTING SERVICE 218 Harwood Ave. S., Ajax Shopping Plaza, Ajax Telephone 416-683-1968 and 416-683-1970 WHITBY FREE FR13 and care stiil apply. Do not buy without a down- payment of at !east 15 per cent, and do not assume mortgage pay- ments in excess of 35 per cent of your family in- come. The name of the game is to acquire and build equity in an appreciat- ing property without putting 'yourself at financial risk. Give to the -Kidney Foundation of Canada Above ail, do not put yourself in the position where higher interest rates in the future could cause you to lose your property. We: have seen too much of that over the last two years. KENDALL DETACHED BUNGALOW - $60,900. 3 bedrooms, living room, stone fireplace, walkout, covered deck, fenced yard, detached gar- age. Sarah Bursey 668-6221 985- 9265. ARCHITECT DESIGNED - Lovely three bedroom, huge fenced lot 16 x 32 inground heated pool, main f loor family room, firepiace, big eat-in kitchen, enclosed sun por- *ches, central vacuum, dishwasher, $78,900. MargiBiII Bird, 668-6221 668-5774. ASKING $44,900. - For this cosy 2 bedroom bungalow in prime area of Whitby. Would suit retirement or single person, to view Catherine Moffat 668-6221 571-3727. NORTH EAST WHITBY - $68,900. Detached 3 bedroom, hollywood kitchen, waikout to backyard, living dinlng combo, attached gar- age. Sarah 13urssy 668-6221 985- 9265. 4 BEDROOMS - 12 718% MTG. TILL 1985 - Just llsted, Oshawa, $57,900 with super mortgage, fen- ced yard, large eat-in ktlchen leade to patio, freshly painted through- out. Chrlstîne Kendall 666-221 88>70U3 BROOKLIN - $67,900 3 bedroom, 1/ acre lot ln down.town area, detached single car garage, large eat-in kitchen. Sarah Bursey 660- 6221 655-4354. $66,900 - Immaculate 3 bedroomi plus 2 bungalow, recreation room, woodburning stove, bar, kitchen walkout to cedar deck, separate laundry roomn, $43,347.33 at 11'% to June '84, Catherine Moffat 668- 6221 571-3727. WHY RENT? $55,900. North Oshawa four bedroom backspllt, 11/2 baths, garage. $5,600 down, $573 per month, CENTURY 21 GOLD JACKET REALTY LTD. 68- 6221 668-7479. MAKE AN OFFER - On this 3 bed- room, semi-detached home on quiet court, close to Oshawa Shopping Centre, full price $48,900 with 10.37% flnancing. Bob Jackson 668-6221 576-7034. PEACIEFUL, PRIVATIE, PANORA- MIC - Descrîbe this 10 acre tree fiiled property. 2400 sq. ft. cedar home, inground pool, barn artlst studio, overlooks Dagmar Ski Resort. MargiBlil Bird 668-6221 668-5774. Modest revival in housing REALTY INC. -Membr of thOshawa Distrct elFtaBor 576«8381. JUST LISTED $38,500 Super financing on this cozy 2 br. detached home ln N. Oshawa, wonderfui hardwood in L.R and Brms. Close to sohools, public transit and large park. Don't miss this one! PUTTERER'S PARADISE Three bedroomn two storey semi NIE Oshawa. Per- fect for the man who loves to putter! Detached workshop with wood stove. $51,500. full price. M vust be sold 1 WE*RE THE NOGHBOMM PROFESS«X«LSý" 824 Brock St. N., WhiIbý 668-6221 GOLD JACKET RE LTY LTO. member broker Across from the Curling Rink. Canada's Largest Real Estate Network, Century 21. . - i * ý 1 1 < # .