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PAGE 26, WEDNESDAY. APRI L 16,1l9 8, WHITBY FREE PRESS A.E. LePage opens new Whitby office fouse sales up 6% in Whitby in'79 By MICHAEL KNELL Free Press Staff A.E. LePage, one of Canada's largest real estate companies, has expanded its operations to include a new office in Whitby which was opened last week in the face of spiralling interest rates on mortgages. Ini a written statement issued prior to last Thur- sday's officiai opening, the company's Ontario president, George Cormack said that "we expect a strong housing market in Whitby, this year. "The average three to four bedroom detached, brick home is sefling for about $60,000 and buyers in the area are finding this attrac- tive." Cormack's dlaims were supported by another statement in which the com- pany stated that the number of houses sold last year had increased by 6.6 per cent over 1978. The company said that there were 1,538 homes sold APARTMENT RENTALS e 14 Locations e Reosonoble Rents e Managed Locolly e Avoulable immediately Cail: 579-1626 576-6956 Evenings: 579-1 629 in 1979 as opposed to 1,443 in 1978. This increase represented a total dollar value hike of 20.6 per cent from $75 million in 1978 to $90 million in 1979. "While the Whitby house BAZAAR The St. Thomas A.C.W. will hold their spring bazaar on Saturday, April 26 at the Church Hall inBrooklin. There will be baking, craf- ts, plants, new-to-you, books and tea tables. HeP Your I-EART FUNDIM mnarket ended on a strong note," Cormack said, "the Region of Durham market, as a whole, tended to sof- ten. " According to the com- pany, sales in the region fel from 7,548 units to 6,212. "Several factors including a decline in a new housing starts, the inovement into major metropolitan centres and rising communter, and energy costs contributed to the deline," Cormack said. In a later interview, Cor- mack said that his com- pany's business "is substan- tially Up in the first quarter of 1980 cornpared to the first quarter . of 1979" despite spiralllng interest rates. Cormack attributed his company's growth to people. buying resale homes on the priniary mortgages, in other words, they are assuming the mortgage of the previous owner and, therefore, paying a lower rate of in- terest. "This will be a good year for resale homes," Cormack FIRELACEPLUS $65,9W0 3 bedroomn backsplit, 1½h bath main f loor. FamIiy roomn. Fenced yard, paved drive. Large 1lst Mortgage at il1118% 101/4% 1ST MORTGAGE Fffl FIVE YEARS New Home 3 Bedroom. Large eat ln kitchen wlth waikout. FamlIy Room. Fireplace, 1 'h baths. Garage. Full basernent plus. $71 ,900. 10% MORTGAGE Main floor famiiy roomn, f loor to ceiiing firepiace and waik-out to patio. Stained mahogany trim throughout, tastefully decoirated home on oversized lot. Double Garage. ROSEMARIE BELL 668-8221. BUILDING LOTS FROM $37,5W up The A.E. LePage Real Estate company recently opened a new office in Whitby as part of their expansion programn during an official cerernony conducted by Mayor Jim Gartshore. George Cormack, president of A.E. LePage (Ontario) Ltd., watches Gartshore cut the ribbon to officially open the office as Gordon O'Riley, brancla manager and Mairy Cooke, senior vice-president of the comnpany's eastern region look on. - Free Press Photo by Mike Knell.