AIO - The Terrace Standard, Wednesday, April 17, 2002 — Bus House prices hurting some sellers THE GOOD news «bout the local real estate mar- kel is that lower prices combined with low interest rates make it an altractive time to buy. But the bad news is that sellers, depending upon their individual circum- stances, will take a hit, says Lisa Godlinski, the vice president of the B.C. Northern Real Estate Board and a Royal LePage agent here in town, “It’s a good time to up- prade if you're staying within this market. You may get $20,000 less for your home, but youll up- grade for $20,000 less. It’s all relative,” she said. The problem comes for those people who may not have a lot of equity in their current home, typic- ally those who bought within the last five years on down payments ranging between five and 10 per cent. Whatever equity they have has been eaten up in lower prices caused by the uncertainty surrounding SCI of the past years. “These are the people petling hit. If they bought with any less than 20 per cent dawn, the market is down anywhere from 15 to 18 per cent over the last few years,” said Godlinski. Her cémments follow on the latest figures re- Pi 5 TERRACE. STANDARD INESS REVIEW = LOW INTEREST RATES a a blessing and a problem nd lower prices are both depending upon a sell- er’s and buyer's circumstances, reports realtor Lisa Godlinski, the vice president of the B.C. Northern Real Estate Board. average selling prices here have dropped slightly over the last year. For the three months ending March 31, 2001, 20 single-family residential homes were sold through MLS listings with an aver- age price of $130,925. For the total year of 2001, 112 MLS-listed homes were sold with an average price of $122,468. And for the first three months of this year, 20 homes were sold with an average price of $127,500, In 1999, 151 MLS-listed homes were sold with an average price of $130,078 and in 2000, the average price was $135,827 based on 139 sales, In the years 1999 through to 2001, Terrace prices have remained in the top three of the 13 communities within the B.C. Northern Real Estate Board's territory. That’s probably a sign. matically, said Godlinski. Houses that may have sold in the $185,000 or so price range three years ago, are now on the mar- ket in the $165,000 brack- ct, she said. Those prices dropped when the first SCI crisis tock hold here beginning in 1997 and 1998 but are still high when compared to other communities af- fected later on by the gen- eral depressed state of the woods industry. “We had such a strong market here before the SCI situation and that’s reflec- ted even with the 15 to 18 per cent drop [in prices],” said Gadlinski. Al the same time, God~- linski said the diversifica- tion of the local economy away from the woods indu- stry has buffered prices to some extent. “Most of the people coming inte our office aren't affected by that,” leased from the B.C. of the extremely hot mar- she said of the malaise in Northern Real Estate ket of the early to mid 90s the woods industry, board, indicating that here when prices rose dra- Celebrate Volunteers — This year’s National Volunteer Week (NVW) is highlighting how more than 6.5 million Canadians are turning to volunteering as a way to gaining — and giving — the benefits of experience. Terrace Volunteer Burea is participating in NVW by having a Skeena Mall display. Sonja Slana, Director of the Terrace Volunteer Bureau says, “Volunteering is an integral part of our community. Volunteers are being called on more and more; these volunteers generously donate their time and skills to our community. We have seen the impact volunteers have made during the recent events of September 11th. This event has sparked a renewed interest in giving back to the community. It is not only in times of crisis that volunteers and volunteer organizations excel, it is also in the daily activities they undertake that are so crutial to the well being of society. Communities depend on volunteers in a number of areas including board members, senior’s helpers, emergency workers, literacy tutors, and beautification to name only a few. The Volunteer Bureau encourages the promotion, growth, diversity, and vitality of the volunteer sector in the community.” Seven percent of all Canadians do 73% of the volunteer work in this country. Older Canadians are putting in most of the volunteer hours. As Canadians age, fewer tend to volunteer, but those who do contribute considerable amounts of time. The results of the 2000 National Survey of Giving, Volunteering and Participating indicate that volunteers between the ages of 55 and 64 contribute an average of 181 hours a year, and volunteers 65 and older give an average of 269 hours. National Volunteer Week began in 1943 as a volunteer recruitment effort to enlist women for wartime voluntary service. The concept of a week devoted to volunteers was revived during the late 1960s. Every year more than 80,000 registered charities and -100,000 not-for-profit organizations pause to thank and recognize their volunteers. Truly volunteers are: The Value of One, the Power of Many. CONTACT: Sonja Slana, Director Tek: 250-638-1330 VOLUNTEER Fax: 250-638-1331 BUREAU tvb@kermode.net Low interest rates a buffer to homeowners LOW INTEREST rates are keeping people from losing their homes, says a local real estate agent. John Evans al Remax says people in financial dilfi- culty, and depending upon their circumstances, are able lo rewrite existing mortgages which mean lower pay- ments because of lower rates. And that means fewer foreclosures than might be ex- pected because of the general economic malaise. “We don’t have a lot of foreclosures, but it is more than we usually have,” said Evans who handles the ma- jority of repossessions in the area. He estimates he’s handled between 35 and 44 fore- closures over the past couple of years. It’s a far different situation than 20 years ago when a troubled economy was also saddled with interest rates of 18 per cent and higher. “If you look at a mortgage of $100,000 at 6 per cent over 25 years, the rate is $639 a month,” said Evans. “But al 18 per cent it’s $1,466 a month.” Evans added that banks don’t like to foreclose as they don’t want to end up with an empty house. Cont'd on Page A11 eGucci YOUR Ralph Lauren “ONE STOP SHOP” starry Potter BUY ONE PAIR *Silhovette GET A SPARE *Easy Clip for a friend or family member For your convenience & quick service, please bring in your prescription images by Karlene congratulates Teresa Lamb on successfully completing the Registered Massage Therapist Competency Exams. ; Experience a massage, body wrap or body scrub... slow down... quiet the mind and nurture the body. -4997 Ge )) lle Ave., Terrace ® 635 (Behind Mr. Mike’s) ~ - NORTHERN HEALTH authority McConnell Estate SENIORS SUPPORTIVE HOUSING The Norihern Health Authority is accepting applications for rental housing units at the McConnell Estate, located in Terrace, BC. This complex is new seniors supportive housing that consists of 19 ane bedraom apartments, 2 wheel chair equipped units and one 2 bedroom units adjacent to Terraceview Lodge. It's anticipatad opening is June 1, 2002. The tenant selection criteria must be met prior to acceptance. A point scare system will be used to identify applicants with the greatest need taking into account: present accommodation, financial situation, health needs. Applications must be 55 and older or qualifying for a disability pansion. Additional consideration will be given to local residents and if a spouse or partner resides at Terraceview Ladge. Potential tenants will be required to have proof of income and will be required to do a health needs assessment, Rent will be geared to income and a fee for services that are provided. These units are independent living with some health support services. Supported services provided include: one meal per day, emergency response, cleaning of units ance monthly, and recreational opportunitias. Additional Services may be available such as: laundry, additional cleaning, additional meals can be provided for an additional fee. Application forms can be obtained from: Nancy Wilcox, Mills Memorial Hospital! 4720 ‘Haugland Aud?" | Terrace, BC or call (250) 63834045!) & oni uatwor? Applications must be submitted nd later than 4:00 p.m., °° © April 22, 2002 for consideration in the June opening. For further information please contact Peggy Julseth, Housing Program at (250) 638-2261. Save on Ladieswear, Menswear ~ Kidswear, Bed & Bath, — Household Needs, Family ~. Footwear & Morel ai “ALL SALES ARE FINAL! NO REFUNDS! NO DEALERS! vo geto. PERSONAL SHOPPING ONLY! i STORE HOURS: _ Monday - Wednesday & Saturd: : 4717-2 Lakelse Avenue 9:30 a.m, - 6:00 Bm, Thursday & Fri 4 Terrace, B.C. 9:30 a.m. = 9:00 p.m “ Sunday - 10:00 a.m. - 5:00 p.m: jay Ayer -EVERYTHING MUST GO! HURRY DOWN! While Quantities ast!