CASTLEGAR NEWS, June 7, 1981

Vancouverites in housing lull

By Lealle Shepherd

VANCOUVER (CP) — The never-ending rain has re- placed skyrocketing housing prices as the major topic of cocktail chit-chat for Vancou- verites this spring.

Housing prices, beyond the reach of many first-time house buyers last year, have dampened along with the weather.

Housing remains more ex- pensive in Vancouver than anywhere else in Canada, but realtors say there's been a softening or correction of the 1980 market in which houses earned more an hour than did most of their owners.

Frenzied buying increased prices by more than $1,000 a week. Before it was over, average house prices in Greater Vancouver had dou- bled to $158,053,

Today, this has changed due to a huge increase in the number of houses for sale and a decrease in the number of buyers willing or able to pay record mortgage interest rates.

Maurice Butler, president of the Real Estate Board of Greater Vancouver, said sel- lers have lowered their ex- pectations — and their asking prices — between five and 10 per cent since the beginning of the year.

EXPECTATIONS SOFTEN

“People have been prob- ably asking too high a price and are coming into line,” he said, “That isn't a softening of the market, it’s a softening of expectati ns of likely fa- vors to come.”

Board figures showed 4,000 houses on the March multiple listings sheets, dou- ble the number for sale at that time last year and al- most four times the number available at the height of the boom last October.

Many listings represent the swarms of people still trying to cash in on the equity built up on their houses last year.

“I would suggest that as high as 30 per cent of the houses on the market are not people being transferred; they're people saying, ‘Hey, if I can get $100,000, I'm going to sell,’ * Butler said.

Herman Wiebe, vice-presi-

, dent of the real estate board, said many Vancouverites are selling so they can move elsewhere in B.C., “find sim- ilar accommodation for half the price and invest their money or have retirement income.”

The increased listings mean that buyers can shop around and have more lev- erage to bargain. Last year they were lucky tosee two or three houses in their price range and bidding wars, above the asking price were common,

BUYERS SHOP AROUND

“I had an open house on Sunday with about eight people through,” Butlér said, “and they were all merely doing market comparison, shopping around looking at a dozen houses or more to see what was the best value.

“This wasn't happening until January of this year. People were rushing in and saying, ‘Quick, I've got to get me a house.

Houses that would have been snapped up within 24 hours last year now are stay- ing on the market two and

Took 11 people to contian

dental patient

BIRMINGHAM, ALA. (AP) — Memphis was in no shape to just grin and bear it.

“You can't get him in the chair — that’s the problem,” said Dr. Rogers McDaniel, the dentist who removed the abscessed tooth after the five-year-old polar bear was sedated,

‘The bear, on breeding loan from Overton Park Zoo in — appropriately — Memphis, stands eight feet tall and weighs about 650 pounds.

‘You're talking about an animal that can do some ser- ious damage if you don’t have him contained,” said James Peavy, assistant director of the Birmingham Zoo. “Polar bears are one of the few animals that stalk and kill people."

Zao employees used a blow gun Lo give Memphis an ane- sthetic, Eleven

three months,

“It's not uncominon to see houses on the market for two or three months and still not selling, where before, pre- February, I think it was pret-

y safe to say they were selling within two weeks to a month,” said George Oikawa,

vice-president of Cumberland Realty Group. “Some were selling the day they were listed.”

Butler said many buyers have been eliminated from the market by high prices and interest rates. Some banks now insist customers

Amax says tailings not polluting

VANCOUVER (CP) — Amax of Canada Ltd. said Friday independent test re- sults support its claim that tailings sumped into Alice Arm from the Kitsault moly- bdenum mining operation have not polluted the water’ in the ocean inlet.

W.D. Lenton, Amax vice- president and general man- ager, said’ the tests com- pleted Friday support what Amax has been saying all along.

’ “There is no difference be-

tween the natural stream sediments into Alice Arm and our sand tailing.

The test results show no difference _in measurement between Radium 226 con- tained in natural stream sediments and that in the tailing said Lenton.

A. scientific panel, ap-

pointed by the federal gov-

ernment to review the Amax -

operation, has requested the report,

The federal panel, headed by Dr. JOhn McInerney, chairman of the biology de- partment at the University of Victoria, concluded its public hearings Wednesday in Van- couver, and is preparing a report to present to Federal Fisheries Minister, Romeo Leblanc, on or before July 1.

The Kitsault mine mill was reopened June 8 following a warning by LeBlanc that federal standards for the dis- charge of tailings must be met, .

The operation had been closed down for seven days at. the urging of the minister after a tailings plume was found to extend into the arms beyond a distance allowed in federal regulations.

prove they could handle in- terest payments well above the prime rate of 20 per cent, he said.

“If they’re looking at some- one for a mortgage, they'll say, ‘Well, let's see if they ean qualify for a 22- or 23-per-cent mortgage. ~

“This'is a way of ensuring that the people ~ if they have to refinance a year down the road — are ‘not going to be embarrassed.”

Butler said many potential buyers are waiting until fall when they expect interest rates to drop.

“This stops people, ob- viously, from engaging now in a $100,000 mortage at 20 per cent if they think that in afew months it’s going to be reduced by three points.”

However, Chet Starr, mar- keting services manager for AE. LePage Western Ltd., said people will continue to buy houses even if the inter- est rate continues ‘to climb.

“A lot of people are in the market for a house, waiting ta see what happens, and if it’s not going to go down right away, they still have to make a move.

“If it starts to go up they will go ahead and buy, think- ing that this is an indication that the rates. will be going even higher yet.”

If rates slide, Starr pre- dicts consumers will post- pone their purchases because

Size 6 to 10 veeeereere ses PAIR

Scotch Buy

“they think if it’s going down more, I don't want to buy at this rate.”

SCOFFS AT NOTION

The notion that people buy houses when interest rates fall is an old wives' tale, said Jerry Jackman, manager of AE. LePage's suburban Co- quitlam office.

He said that when interest. rates fall, demand rises, fol- lowed by prices. The price increase more than offsets any savings in interest.

Most tealtors say the cur- rent slump is temporary and that prices will rise again

when supply diminishes —.

not at 1980's hectic rate, but

about one or two percentage :'

points above inflation,

Oikawa said. Vancouver house prices will always be buoyed by the high cost of land, Vancouver, unlike the boom cities of Edmonton and Calgary, has a finite supply of land.

The city is bounded by

mountains to the north, the |

Pacific Ocean to the west, the U.S. border to the south and fertile agricultural land —

much of it in a reserve — to”

the east.

Answer for Sunday Crossword Puzzle No. 952

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DM I

es Effective June 18, 19 & 20

INTHE CASTLEGAR STORE.

CANADA SAFEWAY LIMITED

SALES IN RETAIL QUANTITIES ONLY

q ietering: i 738 ws si

> ‘The Vancouver | Foundation

has offered a $12,500 grant, ° but with the co: Aha

outa cura rathed upthe ae

. clety and that the renova-

tions aré completed ‘and: the” equipment. bought by 18.

Society members “themselves. as:.“very .con- pet sbout bins able to.

eg i that the money. will be avail:

able. They cannot wait longer ; + than that, because they esi

he. Castlegar, raffle and a tug-of-war‘ are:

being: organized -by the’ soci:

”Sety. ‘for Sunfest:'61

ey raduaaie ali dl 0's pi the ‘Hobbit ‘Hill "Geatro: for

tre and nursery. school with

35 Cents -

catleaar élass:

Morgan. The” “Middl

panied’ by rofessional

two-man band from southern Oregon on

spaces for 26 children is also.

run at.the centre. > Funding to start the'centre* in’ 1971 came from. federal

‘and: provincial . government ts,

come has barely eaverod the the day-to-day

operatin; since then and the, 7 ara im: ©

provements have: been _con- tributed to. the ‘community or been on petd for.by fundraising.

equipment for its special néeds' program. The

‘atid floors are'in-podr 7

carpets a1 condition after 10 years of use, and the basement was never designed to be used for a children’s program. * The special needs program has never. been able to buy the equipment and toys it should have. The child care society also has applied for a $25,000 B.C.

Lotteries Fund t to fund - oon - petition to move. the classes

a,major upgrading‘ of the playground, but it has been warned that’ its application may be turned down, It was told the fund is reluctant to:

Hobbit: ‘Hills yard include a

major landscaping effort, to prevent a.recurrence of the recent flooding in the build-

ing’s, downstairs .area,.and | -

upgrading ' the. playground:

- The play fort and the fence

around the-lot are rotting, - and most of the playground equipment is unsuitable for the special needs. children.

Society members are‘ con- fident. they..can. raise ‘ the mioney needed for the ex- terior renovations by sum- mer of 1982 if their appli- cation for a lottery Brant is turned down.

TODAY'S PRAYER Teach us, O God, tohavea cheerful heart, because it is a good madicine.

cation has decided to cut back ‘funding commitments to the

age the growth. of career. |

,Oriented programs.

Hardest ‘hit ‘has been uni--

versity’ transfer ‘courses in outlying - communities of

‘and | Nakusp, “says ‘College -

Principal Leo Perra.

He says about 20 classes have been cut from this falls

el ‘The el are attended by ‘about 200. stu:

dents, half of them held:in ~ Trail... :

board < re-

quested money. from” the bus service between. Trail.

ministry: in its-.budget but -there hasn't been enough to go around, Perra' says.

He adds that there, will be:

little change to the rest of the seollege courses, although ‘the

number of class sections may. °

have to be cut in some areas,

There will--also’ be new.’

‘activities added. to:the .cur-

‘was' sponsored. by’ the: Cast! munity Arts Council. 0

cl legal stenography arse, it the’ Trail

“"In addition, the college is: investigating the idea of a’

and: Cestlegar- for Say: time

“students,

-Perra says the Nelsonto-. Selkirk service would be re- ,

duced’ to-a morning. ‘and:

evening trip and a .Trail-to- Selkirk trip would be estab- lished, Tunning as frequent as the. Nelson’ servi

Kindergarten move rejected»

Kind rgarten students ate tending Valley Vista: School will remain: there “despite a

to the new Kinnaird Elem- entary School, the Castlegar’ Schoo! Board decided at its” regular. meeting | Monday. night it

Fox readhitied: fo

NEW: WESTMINISTER (CP)!'\—Marathon ‘of Hope

‘runner. Terry Fox was re-

admitted to Royal Columbian Hospital Friday“morning for treatment of an infection, his, doctor. said. i

-“Terry has. been | read- mitted’ a for ‘treatment of an: infection and re-evaluation of | his ‘ condition,” Dr. Robert Heffelfinger said in an inter- vier.

“Terry .will be in hospital for several days,” -Heffel- finger said. “He is at present off interferon, but. will -be starting it again. His condi- tion is not mych. different.”

The. board’ received & peti-

: tion-from 18. Parents of kin- dergarten popils wanting the: asia

morning and afternoon’

to be moved'to the new Kin.

naird Elementary School...

As well, a petition was Fy ceived from 10 parents, and a’ letter. from one other,’ wish-

A hospital spokesman said of. the 22-year-old. national ‘hero: “As previously, he re- mains in serious but stable

_ condition.

Fox raised $24 million for

‘ing the classes to remain at the. Valley’ Vista School,

" Superintendent of Schoola «te

John Holden said’ he had spoken with Hazel Kirkwood who teaches the two classes , and others involved and they preferred the larger space at’. Valley Vista to the cramped: spot in the new school:

hospital -

cancer research when he completed: 6,000 kilometres of his attempted cross-Can- ada Marathon of Hope run on an artificial leg last Septeni- ber.

Objections from the rural °.

area surrounding: Nakusp have ‘led the: Regional Dis- trict. of Central Kootenay to’ delay moving towards adopt- ing its Arrow. Lake Fegional Plan, Hey The directors voted during, the’ last‘ board meeting to° leave the plan bylaw tabled, after a delay was requested ‘by Francis Sadd, the director Tepresenting Area | K (Upper Arrow Lake). The bylaw had been’ acheduled. led to receive thd reading. mmunity grou] fa Bur. ton and Fauquier, the Area K advisory ' planning~ ‘commis- “sion, and a Nakusp resident have written the RDCK ex-

regional

point out’ that ‘the plan's recommendations. for the east side:.of Lower Arrow Lake. can carry little weight, because the area lies inside the boundaries of: the com- pany’s tree farm licence.

The company wrote. it is concerned” abouts recom- mendation in the plan calling ” for formation ofa scenic cor- ridor along the east side of. the lake, because it could in- terfere with future plans for logging. «

The protests from ‘Area K say.the plan will, placs too many - restrictions on the area, and it will Umit font:

Cominco opens special plant

TRAIL ( cP) — Cominco Ltd. is ane C. achance to compete in the high tech- nology electronics industry, Science Minister Pat MeGeer

‘said here Friday while open-

ing the company's ne 10 Mum arsenide plant. a

Cominco says the $1.2-mil- lion plant will be one of only: two in the world producing gallium arsenide fomicon: ductors,

‘The plant will use gallium

eir ‘ area because it would violate

‘special conditions attached to‘:

*Spokesmen ‘for “the ime

provement district, -- which

;: . permit staked the: Pesticide. Control Appeal’ Board. to: either “amend the permit, so it will state the spray

Although inside the permit area;

‘Spec- ial tems fing erlen| it‘ ares ent ‘to? {permit enough

cannot, be ‘used on’

Togram can- not . start” within 10 < kilo-:. has” no metres of the. viewpoint on:

._ the Castlegar-Meadows Junc-

‘The board’ appeals ‘should be! banded down within two weeks time, Dr. Frank Hillier, the board

said, after.: the ,

chairman, hearing was adjourned,

Allan Sheppard, a member -

of the Ootischenia -Improve- ment District board of trus-

tees and Alex Cheveldave, : sub-

the board, - chairman, mitted a seven-page brief to the hearing, ig against the use of Tordon 22K in the area.

They cited research show- ing picloram, the active chemical in’ Tordon, could cause cancer, and a number.

“ of local conditions in Ootis-

Cominco’ smelting opera- tions,

The metals are refined ia

chonia that would create hazards if the chemical is

used:

Thoy also argued that the chemical should be kept off the right-of-way. for 10 kil-

Toaizletlons attached to answat the. residents’ “con:

i Peder the eau

th the rare trict and Lang had submitted

ite inspections himself, ihe fish and wild-

erament is reconsidering ple sa ih branch, and waste man- loram to see if it is safe, and agement branch, he said.

the board should be cautious in-allowing the use of the. chemical until the tests are completed, Cheveldave: said.

However Cheveldave. and Sheppard were not’ reas:

Cheveldave ‘said after’ the.

Sheppard's summary " hearing, he believes the min- stressed. thi ntial

dan- istry, of highways represen-. “'tatives only learned. about

vironmental quality are pri-

‘orities is in his mind, and re-

search indicates picloram can cause cancer, he told the

ie board. He sald that while the

plocal conditions in: Ootisch-

enia when’ they. heard « ithe,

evidence in the hearing, and

the area would’ have -been’: 2aprayed ifthe appeal waa not