“TERRACE STANDARD The Terrace Standard, Wednesday, January 27, 1999 - A7 Business Review Out & About City dodges home fees LEAKY CONDO fallout is hitting Kitimat and Prince - Rupert, but not Terrace, If you buy a residential unit in either coastal city this year, you'll have ta pay a $750 levy, But that charge won't apply in Terrace. The money raised will go to the Homeowner Pro- tection Office to finance a No-itterest loan program for leaky condo owners, The province introduced the pro- gam following recom- mendations from the Bar- rett Commission. Jan Caulkins of the HPO said the levy applies only in areas considered to be in a< moist and warm climatic zone, Kitimat and Prince Rupert fall into that category, she said, Terrace does not, Home builders in all three comiunities will pay more however in order to work. ‘Fees introduced by the HPO will see them pay $600 for a licence and $25 for each unit constructed. They'll also have to pay for warranty protection. Modelling school here A NEW BUSINESS hopes to sell local children and adults on the idea of becoming fashion models. A local franchise of Piz- zazz School of Personal - Development and Model- ling — which has three locations in Saskatoon and one in White Rock — is being opened by ~* local woinan Bella Hepburn. She hopes to offer her first classes for students aged 11. and up in March during Spring Break, “That’s when the kids will be off from school and that’s when the first class will be — depending on en- rolment,” she said. They'll use teaching space used by Interconnect for job training on the second floor of the credit union building, “I was a teacher back home in the Phillipines so I wanted to get back into teaching kids again,’’ she said, — Although her course covers the basics of the fashion and modelling in- dustry, she says techniques involving poise, posture, beauty, hair and communi- cation are also useful in general career aud personal development. Hepbum doesn’t act as an agent for models, she says another local woman is doing that and can handle that service for her students, Accuracy of assessments doubted ASK ANY realtor about assessment notices, and you'll receive some pretty slrong opinions, That’s particularly so because sel- lers and buyers use assessed values as one of the measuring sticks during purchase negotiations. Remax’s John Evans says B.C, As: sessment Authorily does-use sales fig- ures in seliing assessments, but can’t individually evaluate each house. “‘T never use assessed value as whal this house is going to sell for,” Evans says. ‘I say that assessed vaJues are for tax purposes only.”’ Much the same is true for Steve Real estate sales down Cook at Coldwell Banker who says the worth of a house ultimately depends upon what a seller will sell for and what a buyer will buy for, ‘*A lot depends upon the motivation of a buyer and the seller,”’ said Cook. B.C, Assessment Authority © this month released assessments to be used by local governments in collecting property taxes. But both Evans and Cook are both questioning the agency's ‘determination thal values in Thornhill remained steady as of July 1, 1998 compared to the year before. “Thornhill is not excluded from the © marketplace we are in. It is just as dif- ficult in Terrace as it is in Thornhill,’ said Evans, He did partially agree with the authority’s position thal values are holding at Lakelse Lake. “T would say those values are af- fected the least and that would be on any ‘unique property whether it -be waterfront or view,’’ said Evans.’ Cook added there are always people in the market for lakefront property, regardless if there is a recessionary environment. aK kkk Feel your assessment is wrong? You've got until Jan. 31 to appeal it through B.C. Assessment Authority, Canadian Community Newspapers Association &§ CNA newspapers deliver the story Lyle Harvey - CFP, CLU, CHLEC, Certified Financial Planner Chartered Life Underwriter Chartered Financial Consultant Member CAIFA (Canadian Asscciation of Insurance & Financial Advisors.| Group ° Life Insurance, Benefits *Invesiments & RRSP (33 different Mutual Fund Companies) + Retirement Planning & Estate Preservation merged with the Cariboo RESIDENTIAL REAL estate sales in the northwest dropped last year compared to 1997, reflecting the un- certain regional economy. There were 235 single family MLS sales through- out the area in 1998 and 327 the year before. In 1996, there were 408 residential MLS gales, And judging by statistics teleased by the Cariboo Real Estate Board, average prices also dropped during 1998, March 1 and June 30 in Ter- race, the average price was $161,116. But by year’s end, the average price dropped to $147,833 on sales of 128 homes. Broken down by area, half of the homes sold in Terrace proper went for less than $157,000 while in Thorn- hill, half of the homes there sold for less than $125,000, Tn Prince Rupert the aver- ape price of the 35 homes that sold in the first 10 $127,121. Fram March 1 to June 30 in that city, the average price was $135,923. Prices actually went up in Kitimat, from an average $124,500 among five homes sold from March 1 to June . 30 to $136,226 by year's _end an sales of 15 homes, Annual comparisons for Terrace, Kitimat and Prince Rupert themselves aren't available because of dif- ferent reporting methods be- tween the old Northwest Real Estate Board which — Real Estate Board March 1 1998. The closest place for com- parisons is Smithers which had 161 MLS residential sales in 1997. compared to 90 in 1998, Average prices dropped there as-well, from $140,191 at the end of 1997 10 $134,244 al the end of 1998, ' For Professional Advise & Service, with over 15 years experience Call (250)635-6146 Fax (250)635-6112 Suite 306, 4546 Park Ave Terrace BC V8G 1V4 J Of 53 homes sold between months of 1998 was Of THE YEAR We'll give you Guaranteed Minimum Trade On New 1998’s And On All Used Inventory! Over $1 Million Inventory to choose from. See our oN in the classified pages oom TERRACE TERRACE | AT CHRYSLER: 4916 Hy. 16 West 635-7187 1-800-313-7187 DLA#5958 www.terraceautomall.com “TOYOTA. 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