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= . | SUNDAY, JUNE 6: (a 5% ~ aN 2a Ae FE BTM BCE Fie Budget 'plum' won't have much effect, they say BR EN RY HA y 2 Y'2 7 3 "1% 7 ok 4a FARA I Ne IAS CS Ligh dis ang ($e DPE ae A SLY Toh EAM TIN Vb REA Bt WIS i PORT PERRY STAR -- Tuesday, May 18, 1982 -- 23 Local builders cool to $5000 loan proposal Builders and developers in the Port Perry area have reacted cautiously to. the $5000 interest free loan proposal announced in last week's budget for first time buyers of a new house. Those contacted by the Star generally agreed that the interest free loans are not going to create a stampede of buyers looking for new homes in the Scugog area, but they also said that "any kind of stimulus might help the depressed house building market in this area. Township - officials estimate there are as many as 500 lots in the municipal- ity that could get building permits immediatley. How- ever, this has been a poor year so far home building with just five permits issued during the first four months in Scugog. Ted Griffen of van Edwards Developments (Apple Valley) told the Star last - week the major problems facing home build- ers this year are the high KLEAN SWEEP CHIMNEY SERVICE *Chimney Cleaning *Repairs ' Jd. *Chimney Building $53 '*Fireplaces Ho) *Stove Installations > 25 Years Experience - inChimney Maintenance and Building. 985-3111 DID YOU KNOW? If you are a Bowmanville Hydro customer - You can Rent A Hot Water Heater for as low as $2.80 /month INTERESTED? CALL: BOB GOODMAN PLUMBING 985-7758 -- PORT PERRY -- 'BROOKLIN SPRING FAIR June3-4-5-6 THURSDAY, JUNE 3: *Children's Pony Show *Midway *Beer Tent *Miss Brooklin Fair *Carlsberg Champion Team FRIDAY, JUNE 4: *Guernsey Show *Midway - *Tractor Pull 7:00 P.M. *Beer Tent *Arena Exhibits - SATURDAY; JUNE 5: *Appaloosa Horse Show *Parade *Midway - Beer Tent *Dairy Cattle - *Light & Heavy Horses *Horse Pull *Hell Drivers - 7:00 P.M. *Pancake Breakfast * Arabian Horse Show *Police Tug-of-War *Harness Racing - 1:30 P.M. '*Pari Mutuel Betting *Bed & Bathtub Race *Beef and Sheep Show *Sheep Shearing *Fiddler's Contest - 7 P.M. Prize Lists Available from Jack Woodward (416) 655-4525 interest rates, and job lay- offs. "If young people are out of 'work or being laid off, they can't buy homes no matter how much money the gov- ernment might give them," he said. He went on to say that the market for new homes in the 1200 square foot size has all but dried up this year. And he said carrying a $40,000 mortgage at today's rates is just about beyond the grasp of any first time home buyer. As announced in last Thursday's budget, the Ont- ario government will provide $5000 interest free for buyers who have never owned a home and purchase a new house between now and Nov- ember 1. The buyer must put up 10 per cent of the pur- chase price, and the ceiling is $90,000 for houses outside the Metro Toronto area. Mr. Griffen said there currently are two new homes sitting 'vacant in Apple Valley, priced at $76,500, and there are 15 lots ready for sale. He did say, however, that the government program might spur people who have been living in an apartment for several years and have managed to put away some money for a substantial down payment on a new house. But he stressed that high interest rates are the real problem in the housing industry this year. Peter Koropisz, a spokes- man for Carlan Homes which has 58 lots in the Cawker Creek Development on Regional Road 8, said Friday his initial reaction is that the program would be of little value. However, he said his opinion might- change once he has had a chance to study the plan in detail. There are 58 lots in the Cawker Creek development, 11 of them sold, but so far there are no homes built. Mr. Koropisz said that because of the nature of the proposed homes for the development, he doubted whether they could be built for under the $90,000 ceiling. Guy Latreille, a spokes- man for the Greenbank Development subdivision in that community north of Port Perry, also could find little positive to say about the $5000 loag program. There are 38 lots in the subdivision ready for per- mits (out of 63) and business has been slow this spring. He said the fact the program only runs to Nov- ember is too short and might be more effective if extended for several months. However, he did say that the $5000 might spur buyers who already were seriously thinking of buying this year anyway, and who had sufficient funds for a down payment. "But I really don't think it is going to have any major effect on the housing market," he said. Mr. Latreille pointed to the high interest rates as the major problem facing builders and developers. He said that it appears as 6 AZE & GLA Zp CERAMICS ¢ Custom Firing - Giftware - Ceramic Supplies OPEN WORSHOP - FREE CLASSES if the program is geared to the Toronto area in an effort ot get apartment renters to buy houses and free up units to help the critical apart- ment shortage in that city. OPENING WEEKEND SPECIALS: THURS., MAY 20th: $5.00 Gift Certificate to every Sth Customer. FRIDAY, MAY 21st: Free Piece of Greenware to Every Customer. SATURDAY, MAY 22nd: $5.00 Gift Certificate for Firing to every 5th Customer. PURCHASES OVER $50.00: $5.00 Gift Certificate toward future purchases. 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