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16 The Canadian Statesman, Bowmanville, Wednesday, March 30,1994 Real Estate Deadlines and Policies Deadline for Wednesday Publication is Monday at 12:00 Noon. Any compensation for errors or omissions by The Canadian Statesman will be limited to the value of the space occupied by the error in the advertisement. Y Please phone 623-3303 and ask for the Real Estate Sales Department y Canada Mortgage and Housing Corporation Predicts Credit Growth Residential mortgage credit is expected expected to grow by 8 to 9 per cent in 1994 compared to 5.4 per cent in 1993 reports the first-quarter Mortgage Mortgage Market Trends,, released today by Canada Mortgage and Housing Corporation. The extent of mortgage credit growth is tied to housing market activity. activity. "This year's expansion is based on expected stronger new construction construction and resale market activity, combined with rising prices in both markets," said Marc Pellerin, CMHC's Capital Market Economist. "But, job uncertainty will prevent the housing market from booming in spite of very low interest rates," Pel- lcrin added. Mortgage Trends: Where do Canada's major lenders see mortgage markets heading in 1994: The consensus view of La Confédération des caisses populaires et d'économie Desjardins du Québec, Canada Trust, Scotia Bank and the Bank of Montreal Mortgage Corporation Corporation is that mortgage lending activity should improve in 1994, albeit at a •slow pace. Mortgage Debt: Although Canadians have seen their mortgage debt load rise steadily throughout the 1990's, tumbling in- LAWYER Peter E. Heslin, LL.B. Real Estate Wills Mortgages Family Law Pickering-Ajax Bowmanville 1305 Pickering Parkway 36 King St. E. Suite 304 623-5554 Call Toll Free - Region of Durham, and Toronto 1-800-567-3926 DEEDS Title to Real Estate in Ontario is transferred from owner to owner by a legal document, prepared by the Vendor's or Transferor's solicitor, called a Transfer/Deed. The Deed shows the Legal Description of the property as well as the municipal address where applicable. The present owners are shown with their full names as registered on title. The Purchaser's or Transferee's names and birthdates arc recorded here as well. On the deed the amount of "consideration" or money paid for the property is also indicated. When the Deed is submitted for registration and accepted by the Land Registrar, then the transaction is said to be "closed" or "completed". At the time of closing payment occurs, ownership changes and possession is given to the purchaser (unless otherwise agreed to in the Offer to Purchase). The Deed is then registered at the local land Registry Office. Be a part of our exciting "Car Sweepstakes". If you list your home with me or purchase one through me this year, you will be eligible to win our shiny new 1994 Grand AM SE. Call me for details at Family Realty 2000 Ltd., Bowmanville 623-2000 (24 hour pager). © You are cordially invited to an OPEN HOUSE For LAIDLAW's New and Innovative Landfill Reclamation Project Dates: March 16,1994 March 30,1994 Time: 2:00 p.m. until 9:00 p.m, Place: Laidlaw's Information Centre 97 King Street (East of Mill Street and North of the 401) Clarington (Village of Newcastle) Ontario LIB 1H3 For further information, please call (705) 745-1161 LANDFILL RECLAMATION WILL BENEFIT THE REGION OF DURHAM BY: • securing a higher level of environmental integrity • improving the existing landfill site • conserving valuable landfill space • providing a cost-effective method of recovering resources and meeting Provincial diversion targets • providing additional landfill capacity within the existing footprint and contours Housing Starts Jump by 7% tcrest rates have made the burden easier to bear. Residential mortgage debt stood at 67.5 per cent of total dispbsable income at the end of 1993 in comparison with 46.1 per cent ten years ago. Analysis show that this is not really worrisome, given that mortgage debt in relation to what houses are worth, has not changed that much since 1979. In addition, servicing costs below 4 per cent of personal disposable income, are lower lower than the 5.4 per cent level observe in 1984. Mortgage investments: , The National Housing Act non- prepayable Mortgage-Backed Securities Securities (MBSs) have outperformed Government Government of Canada Bonds (GOCs) as an investment over the past four years. The total rate of return on non- prepayable MBSs averaged 13.50 per cent during the 1990-1993 period in comparison with 12.10 per cent for GOCs. The NHA MBS Program set new records in 1993 with the issuance of 428 new pools for a total value of $6,579.8 million. This compares with the 1992 figures of 388 new issues totalling $5,959.4 million. The continued continued success of the NHA MBS Program Program brought the total outstanding amount to $16,308.2 million (1,415 units) at the end of 1993. Multiple units construction lifted total housing starts 7.1 per cent in February, offsetting a sharp drop in single-detached starts, reported Canada Canada Mortgage and Housing Corporation. Corporation. Total starts rose to a seasonally adjusted annual rate (SAAR)* of 153.100 units from a revised level of 142,900 units in January. Construction of multiple units jumped nearly 50 per cent to 74,500 units SAAR in February from a weak 50.100 units in January. At the same time, starts of single-detached dwellings dwellings fell 21 per cent to 55,000 units SAAR from 69,200 units over the same period. "The bitterly cold'weather of January January and early February hit new single-detached single-detached construction, just as it had done to the resale market in January. January. February's rebound in multiple units construction can be traced to a strong level of social housing units in Ontario and more normal levels of condominium construction in British Columbia," said Gilles Proulx, Chief Economist at CMHC's Market Analysis Analysis Centre. • "Construction, particularly for single single dwellings, is expected to recover from the paralyzing cold in the next few months and take advantage of low mortgage rates, a good resale market and a healthier economy," Proulx added. Urban housing starts in Ontario bounced back to 42,200 units (SAAR) in February, up from 34,800 units in January. The rise reflected a surge in starts of government-assisted multiple units. Starts of single- detached dwellings suffered a drop of around 25 per cent. British Columbia urban starts jumped to 41,800 units (SAAR) from 31,200 units, mainly due to a rebound rebound in condominium construction following weak figures in January. Starts of single-detached dwellings fell 10 per cent. Quebec urban starts were hit hardest hardest by the cold spell, with only 18,800 starts (SAAR) in February, down from 27,000 units in. January. Both single and multiple dwelling units contributed to the drop, leaving total starts at the lowest level since September 1982. Construction advanced further to an annual rate of 22,700 units (SAAR) in the Prairie region's urban centres during February, up from 21,000 units in January. Multiple units pulled Manitoba starts higher to 2,900 units. Total Alberta starts inched up to 19,400 units as an unu sually high level of condominium construction offset a drop in single- detached starts. By contrast, construction construction fell to 400 units in Saskatchewan, Saskatchewan, Urban starts fell to 4,000 units (SAAR) in the Atlantic region, from 5,300 units in the month before. No starts were reported in Prince Edward Island, and construction fell in Nova Scotia (to 1,900 units) and Newfoundland Newfoundland (600 units). Activity improved improved to 1,500 units in New Brunswick. Brunswick. * The SAAR is a monthly figure that is adjusted to remove normal seasonal variation and multiplied by 12 to reflect annual levels. ELLŒ KINNEAR THE AGENT WHO DOESN'T DISAPPEAR WHEN THE SIGN GOES UP! HARD TO BEAT THIS PRICE! Life begins here In this tidy detached starter starter home with maintenance free exterior. Recently modernized in a quiet neighborhood neighborhood close to schools, An excellent buy at only $99,900. With $5,000 down it may carry for less than rent. Make an offer, HERE'S A BEAUTY! Just listed! 4 bedrooms and finished from top to bottom. Rec room with woodstove setting. Immaculate and tastefully decorated. Walkout to covered 12 x 24 ft. deck. There's even play equipment for the kids. Don't miss this one. $139,900. PERFECT BEGINNINGS If you can pay rent you could o,wn this lovely freehold townhome. Beautifully finished and in mint condition. Walkout to deck, central air, gas heat. At only $112,900. this is a must see. RVMM CORNERSTONE CHARM AND A WORKSHOP Country bungalow on 75 x 300' lot. Newer kitchen, separate dining room and main floor family room with walkout to large, deck, 20 x 18' garage/workshop. Priced at $139,500. 623-6000 Toronto 428-1206 FAMILY REALTY '//■-'V y.;'. ■■■I 9 1 KING STREET WEST, BOWMANVILLE, ONTARIO L1C1R2 Toronto Line: 683-1119 Oshawa Line: 404-1377 Atf Annis Bill Turansky Nick Zondervan Mary Ellen Craig Bob Craig Broker/Owner Manager Sales Rep. Sales Rep. Sales Rep. A re You Looking For A Bungalow? LOOK NO MORE! Doncaster Cres. Newcastle $159,900 3 bedrm., family room with fireplace, fireplace, eat-in kitchen kitchen with walkout to patio, 2 car garage, paved driveway, gas heat. Call Nick Zondervan for details. A PROPERTY WITH A VIEW! Beautiful 10 acre brick bungalow with woodburning fireplace in sunken living room. Large eat-in kitchen, family room and 4 room in-law apt. with separate entrance. Overlooks Bowmanville Golf Course. Asking $329,500. Contact Bob or Mary Ellen Craig. 3 bdrm. country property with state-of-the-art, 3 door 36x40 insulated, healed garage/workshop with air compressor & floor hoist. Make an offer! ALSO... Build your dream house, facing Lake Ont. Asking $49,999. Call Ann Simpson for details. $154,900 Bowmanville, Century home, Large lot. Call AlfAmis for more info, on the above homes. NORTH FAST OSHAWA Beautifully decorated decorated from top to bottom. "This ... s Y) I» home is a 10". Wired security system, central vac., quality carpeting, above ground pool new '93. Asking $159,000. Call Edna Hamel for your private viewing. ZXSS&ZSBHHHHHMHHBI 1/2 Acre Country Selling Close To Town $149,900 Spacious 4 bdrm. family home, detached garage and small workshop, beautiful lot with mature trees and lots of privacy. Newcastle area. Call Belly Smith formate details. SUPER STARTER AT $129,900 4+1 bedrooms, 2 kitchens, 2 baths, separate entrance to basement, new wiring, new plumbing. Commercial Plus Apartment $129,900 Excellent opportunity opportunity to own your own business & pay less than rent. Great g location on King St. Extra deep lot. 1.7 Acre Building Lot - $44,90(1 Lovely treed lot in area of country homes. Spring on property. Call Carol Hallman for details on any of the above properties. Edna Hamel Sales Rep. Rose Salter Sales Rep. Betty Smith Sales Rep. Carol Hallman Sales Rep. Carol Milne Sales Rep. Aline Gni'ium Sales Rep, Ami Simpson Sales Rep,