The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

PRN y ARN WEAR Lae WTO A ed a hd £ 3} Volume 123 Number 38 PORT PERRY, ONTARIO - TUESDAY, AUGUST 15, 1989 Real estate prices level out locally by Rob Streich Prices have stabilized and | the Scugog real estate market is regaining strength according to John Vernon. Mr. Vernon, manager of the Port Perry Century 21 Of- fice, was pleased to say that the summer slump is over. "In the last ten days activi- ty has picked up," said Vernon. "There is more selection now, it ishecoming a buyers market." "He indicated that the fran- tie market conditions last win- - tr were exceptional. Homes 'would me on the market one day be gone ne the next. 'Some buyers may have felt that the agents were pressur- ing them, but the truth of the situation was that if someone spenttolong deciding, the prop- ertywouldbegone. = . "Now conditions are a little more relaxed for buyers and for agents," explained Mr. Vernon. pective buyers can look at five or six homes and casually decide which one to chose, in- stead of looking at two and needing to make their minds up onthe spot." 5 July and August are tradi- tionally slow in terms of hous- ing sales in the area. This year has been even slower with fluc- tuating market values and un- certainty with respect to feder- al and provincial government plans. The average price of a home in Port Perry area is "ed housing boom in the Dur- . going up and level off, but they $229,000 while the price of an average home in Oshawa is $187,874. Mr. Vernon indicat- ed that this market disparity has resulted because of the larger lots, nicer surroundings and friendlier atmosphere that canbe found in Port Perry. The Oshawa and District Real Estate board showed that sales for Durham Region are. slightly up from June, and the average selling price is fairly stable. ~~ © President Dave Tonkin said,"a lively market is antici- pated for September, Further- more, prices are beginning to level out after an unprecedent- ham Region over the past few years." "The market has simply calmed. down for the summer period and the fall will paint a more accurate picture of the market," assures Mr. Tonkin. Tonkin relates the recent downturn in the market asa re- turn to more normal price lev- els. Average price increased 26 per cent between 1981 and 1985, from 1985 to 1989 it rose 141 percent. his stabilization should not concern anyone who may be considering investing in the real estate market. Like any area of investment, there are short periods where prices stop eventually return to the up- ward trend. al 5