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em ------E TEA "A Family Tradition for 125 Years" PORT PERRY STAR - Tuesday, October 22, 1991 - 15 Now is the best time to buy a home From Page 1 .Tve been busier than the dickens day and night for the last two weeks," she said, add- ing the same couldn't be said for | most of her colleagues. "The market isso unpredicta- ble compared to a couple of years ago." : She said the job of a real es- tate agent is harder than it's ever been. Because of the reces- sion, she says most people feel if there is a for sale sign on a prop- erty, the owners are in financial trouble and will accept a rock- bottom price for their home. "You {agents have to be very diligent," Mrs. Tripp said. "It's difficult to get people to offer a fair price." Although business is not booming, Re/Max broker Guy Latrielle said the current mar- ket is "certainly better than last year." Most felt the price of an aver- age single-detached home had dropped from about $200,000 to between the $150,000-170,000 range. The decrease in house prices, coupled with low interest rates, make now the perfect time to buy a home, the agents and bro- kers agreed. "Prices are at 1987-88 val- ues," said Mr. Fairman. "Inter- est rates are as good as they have beenin a long time." "If you can afford to buy, now is the best time to do it," said Mrs. Taylor, adding that first- time buyers and people wishing to upgrade are in the best posi- tion. "First-time homebuyers have been out of the market for the . last three to four years," Mr. Latrielle said. But now, first-time buyers can find decent housing and lock into low interest rates, said Mr. Fairman. Mrs. Taylor pointed out that the provincial government is working on a plan that would allow first-time homebuyers to use their RRSPs to purchase a home; a move she hopes is im- plemented. Upgraders are also in a good position because when prices do rise, the gap in pricing be- General Motors to supply cars for Royal visit When royalty comes to Onta- rio later this week, they will be riding in style thanks to Gener- al Motors. General Motors hasbeen cho- sen as the official suppliers of the vehicles for the royal visit involving Prince Charles and Lady Diana. G.M. of Canada spokesman Stew Low said they will be sup- plying approximately 50 luxury sedans and vans for the visit. These vehicles will include Cadillacs, Delta 88s, other lux- ury sedans, and vans. Following the visit the vehi- cles will be sold to General Mo- tors employees as regular com- pany cars, Mr. Low said. The Port Peery Star A Family Tradition in Port Perry and area for 125 Years tween homes widens considera- bly, Mrs. Taylor said. Signs of a turn-around in the economy, although slim, are be- ginning to show. Mrs. Tripp said she's seeing vacant land sales increase, which surprises her because builders have to pay the GST on supplies. : d Mr. Fairman said there is a "small sprinkling" of inter- est from people wishing to pur- chase speculative or invest- ment properties. "Purchasing a home is still a good investment," he said. Although there are small signs of a recovery, most of the agents and brokers feel the market will not pick up signifi- cantly until spring. "I'm not convinced it has bot- tomed out yet," Mr. Bertrand said. "I'm afraid we have a bad winter ahead of us." "People have to feel confident before they will touch their sav- ings," Mrs. Taylor added. I don't think we'll see any change before the new year," Mr. Fairman said. But perspective purchasers should keep a close watch on the market, one broker said. "When housing costs rise, they rise quickly," Mr. Latrielle said. "Spring could show some- thing different." The agents and brokers had some very valuable advice for people looking to sell their property: If one wants to sell their home, they must list it at market value. "Vendors have to expect to get less for their home than they would have two years ago," Mrs. Tripp said. "If they don't, then don't list! It won't sell." Mr. Bertrand echoed those remarks, saying vendors must "wipe the slate clean" of what they had seen in the boom peri- od (late 1989-early 1990). Even though prices are low, perspective purchasers want an additional 10-20 per cent off the asking price. "We went too far, too fast," Mr. Bertrand commented. "We can't get the purchaser and vendor on the same wave length." Mr. Latrielle summed up the best advice for buyers: "Get out there and buy because you Non get a home at a better deal." KEN CARRUTHERS ON GROWTH... "Without careful long-range planning, our lifestyle and our area could easily be swallowed up in the chaos of an ever expanding Metro Toronto region. We need to start now if we want to preserve our quality of life, and | intend to." Elect Ken Carruthers Ward 1 Councillor on November 12 Preserving the Past... Preparing for the Future authonzed by the CFO for the Ken Carruthers campaign. A FULL-TIME YOR for the Township of Scugog Scugog Township requires a strong, experienced leader who is capable of making tough, sensible | decisions about the future of our community. That man is MAYOR HOWARD HALL - > on an an an 4 LEE BE BE IY a : rE EE EE A RI I A I A A I A A A A A A A A AE A A A AAR AEA ER A AE LE JL BLA A EE a a. i et eae he Rp RR Git oh IT i Ag Ens