WHITBY FREEPRESS, WEDNESDAY NOVEMBER 10, 1982, PAGE 23 REAL STAT NEWS;: Low rates cause a delayed reaction With mortgage in- terest rates dropping to pre-1980. levels, one would think that. pros- pective home buyers would be rusbing into the markétplace. 1Not so, accordlng ta Peter Gillespie, manager- of A.E. LePage's Whitby bran- ch. 1"Tra *ditionally, we have seen a delayed reaction after rnortgage interest rates plunge. Many people hold off an. their home purchase decision in hopes, that rates will drap further," he says. 1"In this respect, the housing market is some- wbat akin'ta the stock market. Mny people wait for things ta 'bat- tom aut" before they buy." 1He adds that, while, sales activity bas picked, up in reent months,' there wil be -a marked improvement when rates begin ta rise again prompting 'many of these peaple'ta buy. <Gillespie,,,anticipates, thiat current mortgage' interest rates could possibly drap ta as l'ow as 12 per cent within the next month -but doesn't expect rates, ta remain at this level for, long. With this in mind, he suggests that prospec- tive home buyers would be well-advised ta start looking now. .When rates show signs ,af "bottoming aut" and begin ta rise again, does'this mean that there will be another housing boom? Gillespie thinks ýnat, predicting thà t sales ac- tivity, will continue ta increase, gradually over the next few months. Hawever, he expects that prices will rise in response ta growing demand. "After aur experience in 1981, consumers have learned that a specula-, tor's market offers little security and question- able long term rewards. They are more cautiaus and sensible in their real estate dealings, a factor which has contri- buted positively toaa more stable housing market," hé says. The LePage manager also predicts that the hausing market will, continue ta, favor buyers in the manths tacamne'. "As long as available hausing stock, remains plentiful, ,vendors- will. cantinue ta offer buyers campetitive.prices and attractive financlng. But with sales activity picking up, Gillespie an- ticipate s that the mar- ketplace will eventually turn once again in' favar of home sellers. 'II think' that mast peaple areý aware of the tremen- dous incentives 'avail- able in today's market. For many, it's simply a question of when ta act. My answer to these peo- ple is that they should be prepared ta act either immediately or in the near future." .2BEDROOM Semni - 2 Baths As kin g $47,900. Pocock Realty 141 Bloor St. E. Oshawa-" 579-531 2 Take Rtson cut-off at O1shawa ta f lrat lght, turn rlght. Robert Hume, Vice-President< 'f Glenway Builders, ex- plains the fundamentals of new home construction ta Florence Heard Public Sohoal students Becky McAlpine and Darren Lacy, bath 10 years of age. The students visited Glenway's Garden Street site Thursday ta help celebrate f ir- st excavations for homes at-the new Wyndfield Meadaws community just Up the street f ram Becky and Darren's schaol. - Photo Courtesy af Glenway Builders HOCKEY RESULTS from page 16 Minor Atom: Sponsor- Sharp. Wlutby goal by ed by Checkers Variety.' Matt Cook. Whitby 7 at Bowman- ville 1. Goals for Vanderheyden. Whitby 1FfRANK' goals.by Jason Nurran (2), Greg Fawcett (2), RoE ari s.Dei. 225 Brock St. N. 225 Brock St. N., Whitby 6 at Unionville SO 2 (exhibition). Goals for '< N. E. OSHAWA -SO Unionville by Mike By- ~Ugae ralo blowand avidLigh- ~out this spaclous 3 bedr, foot Whiby gals y ~$1 0,000. down gives you Matt Cook (3), David kmcen, 68- ou6&7mu Wood (2) and Scott Mit- mn 6-11 cheil. Peterborough 3 at Whitby 7. Goals for Peterborough by Kevin Mowky, Jim Byrne and JAKE VOS Cory Stillman. Whitby Bill Turansky, mana- goals by Derik Ells (2), ger W. Frank Real Es- David Wood, Scott Mit-' tate Limlted, Whit by cheli,' Rob Martin, office, would like ta Jason Curran and Bfi congratulate JAKE Robinson. VOS, for his SeIIing LORRAINE, Whitby 1 at Oshawa 2. Achievement for the VANALSTYNE* .Goals for Oshawa by month of October. Mike, Cole and -Ian Effecti~~eJge s or ' COLONIAL HOMES PICKERING- (Coha Sales Ltd.) 1235 Bayiy St.,. Plckering 831-2022 Acadian (as featuréd ln Chatelains magazine>- The objective of Colonial Homes is to create quality structures of ail types to mheet specific market deman- dswlthin wide market are as. We welcomne enquiries wlth regard to our company and our produots, and take pride ln serving both the Canadian Market and others, abroad.' LISWA-TNGS' 3½/% Real Estate Fee. 2,or 3 bedroomn older homes ln Whltby, Brooklln or Ashburn'. PrIce Range -7 $49,000.-$64,000.00. Cali Now 668-0515 Aeton Bmnmlsy Real Estate Ltd.