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SY 2 2 Ee 1g SAVE EY AOA RRNA SE 'or RAZ eT " LA TA AR ARE Boh A A RE 4 Se LL) LOR AMA RAG ORAS he wo Fine ty - (ives Laan 4 ¥ 5 : Set 1 ENR PARMAR IVA TAT LV) A PRO EEN BRIA LTE RSA NAY SUTRAS HART EA LY 19 Ry Nd 5 MRLrAliell ¥ iN A RLY {x Mr AA AH Use Oo SA EL AR TURAN BB Rn SNS RT Fe SRSA WEAR A PRA HAT OAL a HART 3 g Chr 4g i a Nal eA GEN EAN ENY HOE RE, MEHL Ri DRO oy CEA A TV NA RA OA 8 -- PORT PERRY STAR -- Wednesday, May 13, 198) 1 -- REAL ESTATE BOOM -- (From page 1) or fit properly in the new house. These and other costs can reduce what looked like a nice profit on a property. . The realtors surveyed by the Star all agreed that property is still an excellent . investment as a hedge against inflation. In fact, one went so far as to say there is no better or safer investment than owning a single family home. And they agreed the desire to own a home is strong enough that people are prepared to sacrifice other things to make the payments. It is usually accepted that 30 per cent of gross income can be spent on shelter, but people are willing to cut back in other areas and spend more than that, especially after they have made up their minds to buy and have found a home they like. At the mention of mortgage rates, many realtors just shake their heads in amazement that the market could be so strong at a time when the rates are at an all time high. In fact, when the Star conducted the interviews last week, the realtors said they wouldn't even quote a rate without first checking with the money lending institutions. Maurice Baker, manager of the W. Frank branch office in Port Perry believes . that the upsurge in demand for houses this spring is due partly to the fact that buyers were scared off most of last year by rates in the 16 to 17 per cent range. Now, a year later, those buyers have become used to the fact that the rates are not going to come down this year and they are out looking for a house. "The 17 per cent rate killed the market last year," said Mr. Baker. = He also believes that the increase in prices this year could be a normal process with prices simply catching up the rate of inflation. He said that until 1981, house prices only went up on an average about two per cent annually for the last six years, "There is a six or seven year cycle when prices go up." he said. What is the future going to be like for the real estate market in and around Port Perry? J The realtors generally agree that the demand will remain very strong until at least the end of this year because inventories of huses for sale have been depleted. The steep price hikes of the last couple of months will REMTOR J. PORT PERRY DON k pT | 1 , REALTY LTD BF likely level out. However, with the seven per cent sales tax due to go back on building materials Juhe 30th, that will have an effect on the price of new homes which in turn will have an effect on the price of re-sales. Having suffered through something of a slump in sales last year, realtors are understandably happy with the flourish of activity in the SE marketplace at this time. However, they all agree that a volatile market with sharply increasing prices in a very short space of time makes it very difficult to put a price on a home when it does come on the market. "We're working for the vendor, and the last thing we want to do is under-price a property. "A price that is right today "may be wrong tomorrow' said one. Even though the demand for housing right now is at - form now about a ten year peak, the ° realtors generally agree the Port Perry area will not see massive new housing: " developments. The up-front costs to develop raw land to bring 'new lots on. the market are staggering, and builders are reminded of the experience of the mid-seventies when there was a glut of new 'homes sitting 'vacant. It is just too risky. to build houses on spec these days. Guy Latreille of Scugog Realty said the 62 lot Green- bank Heights development in Greenbank has "been on the go" for seven years. Sixteen of the lots have now been' sold," including six this spring, and he's confident the development will be filled in the next three or four years. However, he says that selling the first ten lots or so is always very tough in any new development. ° Trying to predict what the real estate market will be like in six months or a yer is a tricky business. However, it is a certaintly that what happens to the market in places like Scarborough, Pickering and Oshawa has a direct influence on what happens in smaller communities like Port Perry. While local realtors certainly aren't complaining about the phone ringing off the hook and properties selling almost as fast as they are listed, one admitted he'd prefer if business was just steady year in and year out, rather than slump one year and boom the next. FARM FEED & SUPPLY Quality Purina Chows Health Products & Supplies for Livestock, Poultry & Pets FERTILIZER & SEED For Agricultural, Lawn & Garden Use. **SPECIALS THIS WEEK** LAWN & GARDEN FERTILIZER 7-7-7 .. 25 kg. ..$5.00 10-64 ..25 kg. ..$5.00 *FREE: use of Fertilizer Spreader with purchase. BULK VEGETABLE GARDEN SEED Now Available! POULTRY Purina Chick Starters Bio Startena - 8.50 Roaster Startena - 8.50 Feeders & Waterers Available! PETS Purina Cat Chow 8 kg. - Reg. 11.40 plus tax 10.65 plus tax © LIVESTOCK Purina Pigema - 100 cc (Injection Iron) Reg. 3.75 THIS WEEK ONLY 3.30 Purina Colt & Horse WORMER 3 Ibs. Reg. $5.60 Special Price $5.00 'HEAT BULBS 5000 Hours ONLY $9.95 piteatut fh Sdn RAS EE EE EW YT EE ue OO Ter Sry a Good Service & Competitive Prices at .... BROOKS FEED STORE 154 QUEEN ST., PORT PERRY - 985-7992 Hours: Monday to Saturday: 8:00 A.M. to 6:00 P.M. ~. Robert VanCamp - Res. 986-5493 - Terry Trainer, A lovely Mothers Day service was held Sunday in gour Church when seven babies where baptized. These children were: Leedell Melissa daughter of Mr. and Mrs. Bruce Pearse, Lee Ann daughter of Mr. and Mrs. Ron Parish, Gregory Allan, and Jeffery Edward sons of Mr. and Mrs. John Findley, Tanya Christine daughter of Mr. and Mrs. ; Clayton Jason son of Mr. and Mrs. . John McKinley and Bradley Arron son of Mr. and Mrs. Bert Bishop. Each of these mothers received a carna- tion. A special carnation went to Mrs. Olive McMillan, who is also celebrating her birthday on Monday. Special LAKEVIEW TELEVISION "a ENITH "TOGETHER AT LAST! Service Calls ... "We Care About Your T.V." LAKEVIEW TELEVISION 22 WATER STREET - PORT PERRY . 985-8700 music was supplied by the Ladies of the U.C.W. and our organist Mrs. Betty Stone. Glad to report Mr. Jim Lee has returned home after a lengthy hospital stay. His daughter Helen of Kitchener was home for the Mother's Day week end. Mrs. Florence Archer of Port McNichol spent the week end at the home of her daughter Mr. and Mrs. Don McKean. She also attended the christening of her great- grandson Bradley Arron Bishop. Mr. and Mrs. Lloyd Dawson of Port Perry where Sunday visitors at Mr. and Mrs. Ernest Lee. Mr. and Mrs. 'Robert Haslam of Stouffville where $12.50 McMillans. Mr. and Mrs. Frank Lee where Sunday dinner guests of Mr. and Mrs. George Lee, Port Perry. Monthly meeting of the -Women's Institute will be 'held at the home of Mrs. Murray Lee May 20 - 8 P.M. There will be a guest speaker. Also the 4H girls * will be there to tell us about their last project. Ladies don't forget your Roll Calls and Mottos for the coming year. Mrs. Norrine Cook and Mrs. Mildren Thomson are Greenbank and area news recent callers at Armour mouth and other points of interest. Don't forget the Yard Sale and U.C.W. Bake Sale at the church on May 30, 10 A.M. We welcome back from their winter homes in Florida, Mr. and Mrs. Harry Phoenix and Mr. and Mrs. Art Couves. OFFICE SUPPLIES For all Your Requirements PORT PERRY STAR enjoying a five day bus trip : to Holland, Michigan to the 235 i Sree tulip - Festival, Franken- & Ley : £ E PETERS AIA BT BTA WAR We 8B le iE © A SUMMER £2 BREEZE FEATURING THE BANDS & CHOIRS OF PORT PERRY HIGH SCHOOL With a Special Review of the B.C. Trip. WED., MAY 13-7:30 P.M. at PORT PERRY HIGH SCHOOL E ADMISSION: $2.00 Adults; $1.00 Seniors & Students. - ALL PROCEEDS FROM THIS CONCERT TO AID IN THE "TRUAX FUND." x « Rain or Shine - en a ha