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SECTION THE HERALD Wednesday Octnber 1 Page Develo should be young and health i they to launch a ma buildin pro these day Red tape key reason to housing slump If your palm reader you have a long life ahead of you and you enjoy tilling through meetings and facing frustration and delays and again then maybe you should consider becomfag developer Not only will you have projects that will take most of your lifetime if not beyond It to complete but you be responsible to part for current problem in the housing market Problems real estate are having across the province were created by provincial and muni cipal government the manager of Realty charged recently Dan said pro vincial government regulations are so rigid for that building new homes Is a very lengthy and cosily under taking Developers arent wel comed by councillors and town engineers Mr Ti m said Tbey face continual frustration deal ing with provincial and local governments which find fault with building plans yet dont give any suggestions for improve ment he said Wasted engineering and the interest charges accumulated from carry ing these properties cause developers to complete homes at a horrendous cost Mr Tlmmons said That cost la then passed on to the buyer Developers axe not only DAN T1MMONS responsible for building homes must also put in sewers plumbing roads curbs and other servicer Disputes over bow these services are to be done take years tuiually adding to the cost of building a new home Civil servants give developers a hard time Mr Tlmmons said You present your plan and send It back Theres a lack of communication between town planner and engineers How does this affect the real estate market Mr explained When the supply of new homes is scarce the price tit resale homes shoots up be said Without new homes the supply avail able to new home buyers becomes limited Flurry of activity began second week of September In real estate its been a purchasers market since the second week of September said the manager of a firm that employs 19 real estate agents in Georgetown Theres a flurry of activity now with a lot of sales going through Royal City Realty mana ger Alex Glenn said The market is picking up con siderably In Hills and Milton Sales are brisker than in the two three months Real Estate Dan agreed Its a very active market now he said Prices are down to levels purchasers can accept and houses are being sold He said the first time buyer Is back In the market place The real estate boom of when house prices were pushed up from to per cent had put them out of the market prices skyrocketed with people buying and buying and interest rates continued to climb the first time buyers couldnt afford a home and demand slowed down by June 1W1 Without the firsttime buyer the market went a bit stagnant Mr said People no longer wanted to pay the higher price And because buy ers wanted to pay lets there was a discrepancy between the dollar value vendor and buyer put on a home For Sale signs stayed up all over town With interest rates fall ing from to IS and threequarters per cent recently and bousing pric es down 15 to per cent the firsttime buyer back in the market place People who stopped buying last year didnt stop wanting a borne Mr TimmoRS said With the cheaper interest rates and slight decrease in prices theyre interested In housing again and are able to buy The average vendor who puts his home up for a reasonable price can sell It today Mr Timmcos asserted But If you bought during the real estate boom and want to sell today youll likely lose money He said he expects the market lo continue steady for at least a year and said much depends on what takes place with Interest rates The outlook for George town Is very good and the market la very strong now he said There are a number of different mortgaging plans available now Flexibility in sale price important If you want to sell your home In Hs be flexible In the price you set Realty manager Dan advis es vendors to be flexible because bouse prices are a lot lower In Burlington where theres a bigger supply of houses due to more construction With interest rates declining some vendors are increasing purchase prices because tbey think buyers should pay more Royal City Realty manager Alex Glenn said However he said theres been an average two to three per cent decrease in prices and be predicts prices will continue to drop Although Georgetown la close to four major industrial baalnsBramptoDBrmmalea Meadowvale and Miltonpeople dcot have to live in Georgetown and could easily choose to live in other suburbs of Metropolitan Toronto which offer cheaper housing and easy commuting Mr Tunmons pointed out He said Georgetown is an aesthetically attractive town close to the Metro core thanks to GO Transit which makes commuting easy As for Acton prices have become mora realistic and its become a better place to sell a house since last year Mr said Generally prices are lower there than In Georgetown Mr Glenn Wherever you have lower priced homes there are more potential buyers Prices are a few thousand dollars less for similar homes In Georgetown and some home buyers think It s worth the extra drive to live In Acton SAVE ON HEATING COSTS can your doors chimneys to save you energy Lowest cost trie area We do For More Information Call 8778247 which let purchasers go In with a variable rate on their loan Mr Glenn said Flexible mortgage rat es appeal to buyers because if Interest rates drop as have been doing mortgage drops with it However If rates rise the mortgage will too he said The first time buyer has never had it so good with the and Canada mortgage and housing corporation grants to help him out Mr Tlmmons said The grants were brought In by the govern ment to help ftrsttlme home buyers who were seeing their dream of owning a home fade with the rising Interest rates and booming house prices BUSINESS DIRECTOR ACCOUNTANTS Goebelle Wagner MacAdam Main SUM Sooth Hilton Hilt 4535532 8266352 FRANK J JOHNSON Chirttrad 793 an 8773830 Limited Consulting Engineers HUM EXTENDED LEARNING OPPORTUNITIES TO BE HELD AT CANADIAN LEGION HALL ST EAST ERn ON THURSDAYS 10 am to 12 noon FOR AND OTHERS INTEREST IN EXTENDED LEARNING STARTING OCT FALL PROGRAM 1982 Oct Modern Nationalism and lis Confusion Impressions of China Oct for Change Nov 4 The Canadian Constitution Nov 1 Middle till in Conflict Nov 18 Policy of United Canada Nov How to Tell from Wrong Pec 2 Values and Schools FEE FOR THE EIGHT LECTURES IB PreRtftstraben but at made to eke Bart Etta Oat IIOB Paws or be tit in at lit tan tuna For further information PHONE nt life in ITS nnewstafes dm Thats what happened in 1361 Mr Tunmons said A real estate boom pushed house prices up from to per cent There werent enough bouses he said Most bouses up for sale in Hills are re sales Mr said The only new development In Georgetown were the new homes on Ontario Street Just off Ann Street Royal City Realty manager Alex Glenn is optimistic about the real estate market in Ballon Hills despite the lack of new housing If we had new growth in our area It would give us more potential for our outlook because people are always moving around to someplace else Thats why Brampton is so healthy be said Here people who want to move to another borne In the same area nave nowhere logo Where there are more homes due to more con struction taking place bouse prices can be found to be lower Mr said He said bouse prices are a lot lower in Burling ton than Georgetown because Burlington bos a larger house market Mr Tunmons warned that if interest rates continue to fall and build ers dont build the demand for bousing will grow in two years into another housing boom with massive increases in house prices A developer once told me if you want to make a change In Halton Hills you have off as a very young bo and hope la see it in your lift time Mr Glenn Ittookqujtea number of years to get homes up on Terrace off Main Street South Show improvement Continued from page CZ It very hard for people to make a lo year committment ion home when the interest rates are unsettled Mr said cautious ly describing the real estate year for the Brampton board as being PROPERTY CONCERNS Developers municipal and provincial politicians and real estate officials will be meeting today in Brampton far talks as part of the second annual Private Property Week which runs through Mon day The event organized by the Ontario Real Estate Association Is meant to draw attention to what It describes erosion of individual property rights through govern ment legislation over the last years lib partial concerned mat the right to own property and to do what one pleases with It la not enfranchised in the new Charier of Rights endorsed by Par liament in April Properly rights the Association points out were outlined in Mag Carta signed by land s King John in 1215 and also endorsed as part of Rights In the late 1950s A study and slide pre sentation entitled Losing Ground argues lhat the freedom to own and pose of property is being modified and weakened by an abundance of laws Many of these laws while still enforce able have grown obsolete in the province the study maintains Mr McCreary sold that he process for freeing land from encumbering and often redundant legis lotion will be a lengthy One if politicians can be convinced that a problem exists all Its the work of the Real Estate Association to start untieing some of the knots he said If residents are con about their own property rights he suggests they direct questions to local real estate offices Come OXBOW O O K Mat SIS 8778861 LEASING A CAR OR TRUCK GIVE US A TRY CLUE letter Word for travel ANSWER ROOS Travel Agency fJFJl fleet 8770138 See he All New KC Munchkm Game MOW AT RYDERS TV SALES St VIC I air his I AHA PI At A A IMPORT AUTO SERVICE D The Volvo Specialist Y Expert Repairs To All Imports Domostfcs 332 St CROSSWORD CORNER Crossword Puulf Answer on VALLEY Tender for the Construction of Bank SUbUmUonworkt InllM Taws His SEALED TENDERS clearly marked a to contents the tendering will be received at ihe Office the Credit Valey Conservation Authority Ontario I Oct 19SZ for the construction of gabion erosion protection and steel H piles with dm Mr sheeting Tenders are requested In two Parts Part A Includes proximately gabion protection on east bank of trie Credit River and some 1700m In a stagnant bay of the river Part a In eludes about seventeen H plies and ol timber sheeting at top the river bank In the Glen Williams Cemetery Tender documents and tender toms may M obtained at the Toronto or Cobourg Office ot the Consultants upon the receipt el nan refundable deposit cheques to be made payable to Hie Credit Valley Conser vatlon Authority direct inquiries to the Consultants Cobourg Office Each tender snail be accompanied by a certified cheque payable to the Credit Valley Conserve on Authority A 1fl0Vi Bond and a 100 Labour and Material Payment Bond will be required rotten Sims Consultants Kennedy Suit Scarborough Ontario Telephane416 1 A King Street Box Cobourg Ontario Telephoned 16 Mr A Schnarr General Manager Credit Valley Conserva lion A Ontario L0J1KT Aladdin WAREHOUSE SHOWROOM So St THIS RESERVED FOR YOU DAVES SERVICE GUARANTEED WORKMANSHIP PAULS UPHOLSTERY urn OVER 14 EXPERIENCE 8776455 IN 1000 TICKETS WEEKLY PLAY L0TT0LUCK afttitiaMMt Has tester Start rusts M ttt Letts- anm tat statu twin wtisfs KM Mri fJRar HAKES HEALTH HUT MMYHMMTMUMUST 8731344 THIS SPACE RESERVED FOR YOUR AD CALL 8772201 DOLLAR Sunday 30 p Confederation St WHEEL DRIVE TRACTOR SPECIALISTS 12 HORSE LOTTO POWER FOR HOME FARM INDUSTRY MILTON EQUIPMENT CD trow 8782121 Small Ads Wot YourafUMltngOna It TrmfwrtHWimtM Fan Csmsottrtad 8779562 THE HILL lovely Is listed at only Don out Call Ruth JUSTUS HOME A grand eld home In Erin a past and a future Lovingly restored here and up dated there counts The setting is beautiful Lis led at leg Call Rosalie Barker for Inspection