8 Friday, March 24, 2023brooklintowncrier.com Direct: 905 655 7236 Office: 905 239 4800 Eleanor KingEleanor King B. N. B. N. RealtorRealtor Maurice KingMaurice King B.E.D.S., B.Arch.B.E.D.S., B.Arch. RealtorRealtor What others are saying... "Trusted advisor!" | "Customer Focused!" | "Local Expert!" | "Professional!" | "Knowledgeable!" "Hard Working!" | "Accessible!" | "Dependable!" | "Patient!" | "Reliable!" "Well Prepared!" | "Honest!" | "Strong Negotiator!" "Superb Service!" Want to know what's happening in the market? Want to Know the Value of your House? Call Us Now! 905.655.7236 There is no cost or obligation! Your Trusted Source to Buy, Sell or Invest! 905.655.7236 view 1000's of Homes for sale at KingHomeTeam.com or KingOfBrooklin.com MARKETING YOUR HOME FOR ALL IT IS WORTH! Why Didn't My House Sell?Go to KingHomeTeam.com/blog for answers.It's a great time to Buy!Homes are on Sale! Two Executive Offices Main Street Brooklin! Boardroom / Office Support / Parking available. Text 905.409.6730 for Details Net Zero Pre-construction Sale! Bungaloft For Sale! **Photo similar to house being built Not intended to solicit those under contract. BUSTED: common myths among buyers Interest rate hikes continue to impact the real estate market, with number of houses exchanging hands down substantially in February compared to onset of rate hikes. Home prices, meanwhile, have fallen since their record high a year earlier. Here in Durham Region, the number of new listings in February decreased by 44 per cent to 896 compared to this time last year and residential transactions dropped by 47 per cent to 601. The average price, meanwhile, was $888,448. That's a 23.% decrease compared to a year earlier. While lower costs diminish the effect of higher borrowing costs, a decrease in the number of new listings could lead to increased competition between buyers, which could in turn lead to higher prices. If you're a prospective homebuyer, you may be wondering if the time to buy is now or if you should continue to wait out the market. HOMES ARE NOW ON SALE! There are many buyers sitting on the side lines waiting for interest rates to come down before they purchase. Financial institutions are seeing a large number of preapproved mortgages that are yet to be funded. If you wait you may find home prices going up due to competition with other buyers and a short supply of homes for sale. You could find yourself in bidding wars! Now may be the best time to buy. Other common real estate myths can confuse you even further. Dispelling those myths can help you make the decision right for you. A good credit rating means a better interest rate. TRUE! Credit-reporting agencies like Equifax and TransUnion rate you on a scale to measure your financial health. The higher the score, the lower the risk you pose, which should help you secure a better mortgage. Still, shopping around is key because interest rates, conditions and products can vary from one lender to another. The house price is the only cost you need to worry about. FALSE! If you're planning to buy a home, you're likely focused on the purchase price, but the cost of a home is made up of more than that. Budget for expenses like legal and administrative fees, a home inspection if you choose, appraisal fee, land transfer tax, moving costs and home insurance. Mortgage insurance protects you should something happen to you. FALSE! If you want to buy a home with a down payment of less than 20 per cent, you'll need mortgage loan insurance but contrary to popular belief, that insurance protects the lender in case you can't make your payments - not the borrower, reminds CMHC. Buyers get a better deal if they don't use an agent. FALSE! It's easy to dispel the myth that buying a house without an agent can save you money. That's because the agent commission for both the buying and the selling agent - if there is one - is paid by the sellers. In short, that means that as a buyer, you don't pay for your agent's services. Make a lowball offer so you have room to negotiate. FALSE! There may be a time and a place for lowball offers but those are typically few and far between. In most instances, the seller's agent will advise their clients to not take the offer, perhaps because it's seen as insulting or simply not serious or because the seller has received competing offers from prospective buyers who chose not to lowball. You could miss out. Working with your agent to make a competitive offer that considers your budget, the asking price, the home's condition and the current market is a wiser strategy. At The King Home Team: Royal Heritage Realty, we take the time to dispel real estate myths before our clients begin their house selling and/or buying journey. For buyers and sellers alike, it's important to choose a real estate agent who's knowledgeable about current market conditions and your preferred community. Choose someone you trust, who makes you feel comfortable, who listens to you and respects your views. The King Home Team can help you find the home perfect for you. Please visit our website at www.kinghometeam.com for a longer version of this article and a blog that busts common real estate myths among sellers For an update on the market and how it affects the value of your home when you sell Call us at 905 409 6730 Search 1000's of homes. Find SOLD houses in your neighbourhood at search.Look4DurhamHomes.com New 2 Bedroom for Lease 4 Bedroom For Sale! Admin Position Base Salary + Bonus! Flexible hours! Full or Part Time. Work at home. Self Starter. Social Media /CRM maintenance. Lead management. Online training. Text 905.409.6730 for Details Back in 1876, the Oshawa Vindicator newspaper praised Brooklin's religious diversity and highlighted the fact that there were five churches and few taverns in the town. What the paper failed to mention was that the site of the Bible Christian Church had once been a bustling tavern. It was only when the tavern was demolished that the Bible Christians were able to construct the building on their property at the corner of Cassels Road and Church Street. Community saved it The cost to build the church totalled just over $2,900 (equivalent to about $580,000 today) which included the property, fence, and furnishings. The community rallied around the construction and donated enough money to cover the debt, managing to complete it within two days of the dedication ceremony. Bible Christians used the building for eight years before joining with the Methodist Episcopal and Wesleyan Methodist Churches. These eventually amalgamated with members of the Presbyterian denomination to form what is now the Brooklin United Church. After the Bible Christians left, Baptists used the building until 1916 when the congregation disbanded. For four years, it sat empty until the Township of Whitby bought it and converted it into a public library and municipal offices. It served as such for 46 years until a new municipal office was built directly behind the property. Hosted dances During World War II, the building took on a new purpose as a dance hall. A portion of the admission fee was donated to support the war effort. One of the featured bands was Billy Hole and His Live Wires who played nostalgic tunes. To enter, patrons had to pay 15 cents as well as buy a 25 cent war savings stamp. Businessman Matt Agar made it clear on a poster advertising the dance event that attendees with alcohol on their breath would not be admitted. The building became Brooklin's first Community Centre in 1966, marking yet another chapter in its storied history. The dances of yesteryear were replaced by the energetic sounds of hard rock. Former Brooklinite Tom Lakey and his band had the old wooden floor shaking with their rendition of Led Zeppelin's "A Whole Lotta Love." Over the years, the centre has played host to countless community events and gatherings. It has been home to Boy Scouts, Cubs, Girl Guides and Brownies, as well as wedding receptions, auctions, school Christmas concerts, plays and Group 74's Old Tyme Christmas. Despite the many changes it has undergone, the old centre has been a place for the community to gather and will most likely continue to serve that purpose for years to come. The former Bible Christian Church provides a window into the town's past, reflecting the varied needs of its residents for over a century. Our First Community Centre's Origins By Jennifer Hudgins