Real estate sales rebound

REAL: ‘ESTATE sales here nearly doubled for the first
three months of this year compared to 2002, leaving one

realtor wondering if the trend will continue.

“Have we turned a corner? I don’t know if that’s the
right terminology but the inventory, particularly in the
middle price range, has been reduced,” says Lisa Gad-

. <linski, a Royal LePage realtor here and newly-named
- president of the B.C. Northern Real Estate Board,

» She says a combination of low interest rates and low
house prices have brought out first-time buyers, renters
and those-trading up.

“Market values are basically at the 1992 level. They

"went up so high and they have fallen back down,” said

Godlinski. = *_

cae B.C.Northern Real Estate Board statistics show 39
homes: were sold from Jan. | to March 31 this year at an
average price of $114,747,

‘That compares to 20 homes sold for the samme period

: vin 2002: at an average price of $127,500.

‘For the full. 2002 year, 101 houses were sold here at

7 an average price of $118,417.

“<"T would say prices have dropped as low as they're

~ going to go, except we don’t know how much lower it

could go,” said Godlinski.
“= That-combination of low interest rates and low prices
means renters can actually pay less by buying a home

compared to renting, said Godlinski.

While some of the sales have been to people moving

to ‘town, the majority of the purchases were made by
‘" people already living here.

“We hayen’t seen a stretch like this fora along time,”

said Godlinski of the upswing in the real estate market
‘that has ‘been affected by the general economic down-
tum -of the past several years,

Approximately nine of the 39 first-quarter sales were

the result of bank repossessions, Godlinski noted.

“It’s not as much as some people might think,” she

~ said.

“While sales have been brisk in the $80,000 to

: $150, 000 range and the inventory has been reduced, ac-
“tivity in the mobile home, condo and high-end sectors
“continues to be sluggish, Gadlinski added.

Low prices are good news for buyers but for sellers,
especially those who bought during the high cycle of the

. “mid to late 1990s here, the news may not be as good,
= -/she said: -

- Smithers experienced a real estate surge similar to

“Terrace. with 36 homes being bought at an average price

. ; refe ndum, Says city at 1 istrator: dale: and

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a
News In Brief
Still drinking fluoride

* TERRACE has no plans to do what Burns Lake has
just done — stop water fluoridation immediately.
Burns Lake stopped adding fluoride to its water
 Jate Jast month on the advice of its lawyers, who
- said continued fluoridation was illegal.
That's because Burns Lake had begun fluorida-
ting in the 1950s without a referendum,
Fluoridation began in toned ers ago with a

© jt won’t be removed witht one. he fssue could
“come back to council for a decision on April 14.

Military expert speaks
“MILITARY AND international affairs expert
_ Gwynne Dyer is coming to Terrace April 13 for a
public lecture. Based in England, Dyer is an au-
thor, colummist and documentary film maker and is
often called upon as a television commentator by
both CBC radio and television. He also has a new
book out on the conflict in Iraq.

_> Dyer appears at the ‘R.E.M. Lee Theatre 7:30
‘p.m. on April 13. His appearance is sponsored by
the Terrace Public Library, The Terrace Standard,
- the Academic Workers’ Union at Northwest Com-
- munity College, the Terrace and District Teachers’
* Union, Thornhill Junior Secondary School, Caledo-
nia Secondary School and Skeena Junior Second-
ary Schoal. Admission is by donation...

ir in|
! Gwynne Dyer |
| International and |
‘ military affairs expert

Comes to Terrace
Sunday, April 13

R.E.M. Lee Theatre, 7:30 p.m.
Admission by donation

——_—-—

Sponsored by The Terrace Public Library,
The Terrace Standard, Atadenvic erkers’ Union at
NWWOG, Terrence and District Teachers’ Union,
Thorahill Junior Secondry School, Caledonia Senior
‘Secoudary School, and Skena Junior Secondary School

due to low prices and rates

The Terrace Standard, Weanesdoy April 9, 2003 - A7

of $108,318 for the first
three months of this year
compared to 21 homes at an
average price of $105,769
for the same period in 2002,
Kitimat sales were about
flat - five for the first three
months of this year and four
for the same period in 2002.
Prince Rupert sales drop-
ped from 24 in the first
quarter of 2002 to 13 for the
first quarter of this year.
The average sale price in
the. coastal uit, was @
$84,807 for the first three §
months of this year com-
pared to $95,299 in 2002.

Lisa Godlinski

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