Some Houses in London Ontario Sell Quicker. Why?

Have you ever wondered why some houses in London Ontario sell quicker than others? For more money? Even in this great real estate market that London Ontario is experiencing, some homes are still languishing on the market.

Below are how homes in London Ontario and area are trying to be market and sold and what is working better .

 1%      of houses are sold from Open Houses.  This is only applicable if a thorough marketing to prospective buyers and advance planning has been done. Not put out the open house sign at 1:00PM on Sunday for a 2-4 Open House! Otherwise the only people who go to open houses are looky – loos, nosy neighbours or tire-kickers.

OPEN HOUSE

 4%      of houses are sold through advertising in the newspaper or real estate publications.

 6%      of homes are found by buyers themselves or the seller finding buyers themselves, such as a neighbour, relative or someone at work..   In most of these cases, one party or the other hires a Realtor to handle the paperwork.

 89%    of homes are sold through the Multiple Listing Service when listed with a real estate brokerage – providing proper terms and/or an accurate market price is offered.  Yet a lot of homes listed , even in a sellers market will not sell, actually in September 2016, (a seller’s market), 31% did not sell!! Those properties that are sold through MLS, are sold by Realtors who market your home outstandingly well.!

 

Remember, some just list homes, I  sell homes in London!

your home in London Ontario Sold

How many Realtors actually sell real estate??  According to CREA (Canadian Association of Realtors), 7% of Realtors do 93% of the total real estate business nationwide!  As an example, if you had 100 homes for sale, 7 agents would sell 93 homes and 93 agents would divide the sale of only 7 homes among themselves!

In today’s real estate market, it is the Realtor who makes the difference if your home sells or not!

The size of a real estate company or its name has very little to do with the sale of your home  or any other property.  Yes, there are some companies, which sell hundreds of homes, but they also have hundreds of agents.  The average of sold homes per agent is usually very low.

Do you think a home buyer cares one iota what company name is on the sign? The colour of it, the ego picture on it? 

Some Condos in London Ontario Take Longer to Sell

I get asked daily: “Why do some condos in London Ontario take longer to sell”? There are quite a few reasons but 90% of the time it is price or poor marketing!

A condo in London Ontario That Did not Sell

I keep track of condos in London that are for sale, how long it takes to sell( days on the market) and what percentage of the sale price to the asking price. What is the reason why some condos sell for 98%-99% of the asking price and are sold within 23 days and others receive 95-96% of the asking price, are on the market an average 77 days or do not sell at all?

 When a condo in London Ontario is not priced correctly the first day it goes on the market , here are the possible results:

  • LOW Final Sales Price – An overpriced condo, still on the market beyond the average selling time, usually leads to a lower selling price. To sell it, you will have to reduce the price, sometimes several times. In the end,you’ll likely get less than if it had been properly priced at the start.
  • Limited Buyers – Potential buyers may not view your condo, because it would be out of their buying range.
  • Limited Showings – Real estate agents may be reluctant to view your condo or bring their clients because the listing is stale and buyers wonder what is wrong with the place.
  • Wasted Time and Energy – For example, a buyer who gets a bank appraisal on an overpriced condo will quickly determine that they’ve wasted their time because the appraisal will not support the inflated sales price.

Weeks on Market For a Condo in London Ontario to Sell

  Well kept condos in London Ontario , properly priced when you first list it will always get you a quicker sale and  97% of the time the best price! 

Ty Lacroix A House Sold Name !

Real EstateTrends London Ontario

Before buying a house in London Ontario or putting your house up for sale in London Ontario, here are the real estate trends  from a recent survey of 400 builders, here are some of the ins and outs!

Real Estate Trends if Buying or Selling a House in London Ontario

IN

  • walk-in closets
  • laundry rooms on main or second floor
  • low-e-windows
  • great rooms
  • Energy Star appliances
  • 9 foot ceilings
  • two-car garages
  • programmable thermostats 
  • granite counters

                                                            OUT

  • outdoor kitchens
  • laminate counters
  • outdoor fireplaces
  • sunrooms
  • two-storey foyers
  • media rooms
  • whirlpool tub in master ensuite
  • carpet on the main level

As a home buyer, use the above as a tool when negotiating price and for those wanting to sell their home or update their home, keep these in mind!

I show a lot of homes in London Ontario , both new builds and re-sales, the above do make a difference and even if you have a 20 year old home or more, there are things you can before putting your house on MLS for sale that can get you a great return on your upgrades.

If You Really Want To Sell a House London Ontario

The first step in getting your home sold in London Ontario and area in the time frame you want and most importantly, keep as much money as possible in your pocket and not someone else’s, is to choose a great listing Realtor!

Your Home Sold in London Ontario

I have a couple of revolutionary marketing concepts that I absolutely guarantee will help to sell your home quickly and for the highest possible price.

These concepts use key fundamental marketing principles and it will empower you with knowledge that (once you apply it) has proven it to be a blessing for hundreds of homeowners all across London and South West Ontario.

Here’s what a homeowner in Old South had to say: “When I first heard about you Ty, I thought, this is just more junk saying how great some Realtor is. Well, I was definitely wrong. Your ideas we talked about made sense. And when we followed through… we sold our home in only 13 days!”

Here’s what another homeowner in Byron had to say: “Our first Realtor kept making all kinds of excuses, even in this record year for real estate in London … sales are slow for my style of house… it’s too warm outside, nobody is looking at houses in this heat… all sorts of stuff. That’s when my boss suggested I meet you.  It helped me understand why our agent was saying all that stuff. So, we complied with your system and sure enough our home sold three weeks after we listed with you.”

So home sellers how would $17,000 to $30,000 more in your bank account after selling your home in London make you feel?

It made these clients happy as heck!
Carolyn Stinson had her home for sale for over 100 days without any offers. Two weeks after hiring me, her home sold for $17,495 more than her list price.

So home sellers and those thinking of selling, or heaven forbid, you are trying to sell your home yourself or your home was listed and did not sell, what are you waiting for?

It won’t cost you a penny to meet with me, there is nothing to sign and here’s the thing, even if you do not hire me, you will have armed yourself with some useful ideas for you to give to the agent you do hire so he or she can sell your home quicker and for money!

Canadian Nickle

I know, this is a nickel but saying it won’t cost you a penny sounds better than saying it will not cost you a nickel or 5 cents to speak with me!

New Mortgage Rules Affect All Londoners

New Mortgage Rules

New Mortgage Rules That Will Affect All Home Buyers and Sellers in Canada

Effective October 17, 2016, Ottawa has taken measures that affects everyone when selling their home and for anyone taking out an insured mortgage to buy a home.

I have included 2 PDF’s that you can download and read at your own peril! What I mean is, they are easy to read and comprehend, however, these changes may slow down real estate sales ( not good for home sellers) , affect house prices, another form to fill out when filing your income tax and prevent some buyers from being able to afford buying a home.

I know why Ottawa did this, it was to slow things down in Toronto and Vancouver, but do the decision makers in Ottawa know that 70% of Canadians do not live in these two cities?

One thing that no one will answer for me yet is:

 “How will these changes affect those who mortgages are coming up for renewal?”

 If you are unsure how any of these changes will affect you, feel free to drop me an email or call me at 519-435-1600.

New Mortgage Rules
Why, When & For whom?
New Mortgage Rules
In Plain EnglishNew Mortgage Rulesbuying a condo

Buying a Home London Ontario With Less Stress!

 Buying a home in London Ontario and area can be exciting, yet, a little stressful at the same time!

do not overpay for a house in London Ontario ever!

When I list a home for sale in London Ontario and ask the seller’s why and how they bought their home and how the process went, I consistently receive the same replies, wishes and what they would do different the next time they buy.

So over the years, from experience, I have found that if home buyers and I go through these steps below, discuss what is pertinent with them, their buying experience ends up being pleasant, most save time, money and stress.

  1. Five things to know to make the home buying process easier
  2. Four important questions to ask your mortgage lender before you sign any of their documents
  3. I’m the one buying a home – Just who are all these other people?
  4. A quick way to figure out how much house you can afford…
  5. Three things that scare most about buying a home
  6. Why you shouldn’t buy a car right before you buy a house
  7. Eight crucial steps to follow when buying a home
  8. Four easy quick tips that could save you thousands
  9. Inside secrets of how to get a “Yes” when you borrow
  10. Get the home YOU want! Just what is it that you want?
  11. How to avoid 5 of the most expensive mistakes homebuyers make
  12. How credit reports and credit scoring affect how much house you’ll be able to buy
  13. Top 6 things to ask yourself when looking at a home
  14. Four ways to beat the stress of buying a home
  15. How can I remember each home when I’ve seen so many?
  16. Seven money saving secrets you can use when you buy a home
  17. Here’s why it helps to know about interest rates, points, and the “mysterious” APR
  18. Five questions you should ask your real estate consultant at every home you visit
  19. Six things most home builders hope you NEVER hear
  20. The 6  signs that could mean expensive (hidden) trouble…
  21. How do sellers price their homes and how much should I offer?
  22. How to avoid being beaten out by other buyers who may be competing for your dream home
  23. No fail guide to finding a mover that won’t take you to the cleaners
  24. A way you can save thousands of dollars in interest and pay your mortgage off years sooner.
  25. Planning your move: What to do now that you’ve bought your dream home.

 

These strategies and more ( I call them strategies because so many home buyers disregard them when buying) are what you may want to consider when buying your next home

 

  how to buy a house in London Ontario

4 Bedroom House For Rent 845 Fieldgate Circle London Ontario

845 Fieldgate Circle London Ontario
845 Fieldgate Circle London OntarioMove in Condition

•  3 bath, 4 bdrm 2 story “Solid brick” – $1,850.00. Excellent value Monthly
MLS® #591056

– A beautiful 4 bedroom , 2 1/2 bathroom house in a nice safe family neighbourhood, for rent only!

On a premium pie shape lot with a nice deck and lots of privacy and a storage shed. Double car garage with garage door opener and shelving. Very spacious bright kitchen with modern appliances and a large living room to entertain.

4 large bedrooms, the master bedroom is spacious and has a master ensuite.

The basement is finished with additional storage and a bright laundry area with washer & dryer included, even a bar fridge. A cold room for canning or wine makers! A tankless water heater for instant hot water, gas heat and central air conditioning, even a soft water conditioner!

All window coverings are included in the $1,850 monthly rent plus utilities.

Note: Wen requesting to book an appointment to see this house, please include a phone number and best time to call. Thank you

Property information

London Ontario Real Estate Breaks Record For Home Sales

Well, here we go again, in September 2016, 866 homes were sold in London Ontario & area according to our local real estate board, LSTAR. (London and St. Thomas Association of Realtors)®, making it the best September ever for home sales.

Real Estate Agent who sells houses London Ontario

716 of these were detached homes & 150 condos on the dot! April, June & August of 2016 were also record months which may make 2016 a record year for real estate activity.

As the result of this activity, the demand for houses & condos in London is strong but with real estate listings down a whopping 31.7%. (Houses & condos for sale on MLS)

What does this mean?

If you are thinking of selling a home in London Ontario, now is a great time and if you are buying a home in London, be prepared to act quickly and have an organized, experienced Realtor help you, if not, the fear of loss and emotion may cost you money!

House Style Units Sold Average Price
2 storey 205 $407,542
Bungalow 173 $226,645
Ranch 110 $345,247
Townhouse 68 $178,896
High rise apt. condo 43 $179,377

The following table, based on data taken from CREA‘  ( Canadian Real Estate Association) National MLS® Report for August 2016 (the latest information available), demonstrates how homes in LSTAR’s jurisdiction continue to maintain their affordability compared to other major Ontario and Canadian centers.

City Average Sale Price
Vancouver $853,706
Toronto $736,670
Fraser Valley $621,599
Victoria $564,557
Hamilton $510,204
Calgary $472,983
Saskatoon $413,756
Edmonton $379,006
Ottawa $368,331
Kitchener-Waterloo $364,290
Montreal $360,542
Niagara $331,906
Regina $330,338
London St. Thomas $274,383
Canada $467,082

Office Space to Rent London Ontario Inexpensive!

office space to rent London Ontario

 Office Space to Rent London Ontario

•  1,030 sq. ft.  “office space” – $1,241.00. Check this rent out Monthly
MLS® #590630

  Ontario- Sublease until Oct 31, 2017 or can do a 1-5 year lease, second floor 1030 sq.ft. office space, presently being used as a real estate office, reception, 2 meeting rooms, manager office & 4 work stations. $1240.72 per month ($8.00 + $3.59 common area = $11.59 gross per sq ft)

Plenty of free parking, high traffic area, Base Line W, Wharncliffe, Commissioners road, behind Audi dealership.

Shoppers Drugmart,banks, restaurants, grocery store all nearby .

Option to buy or lease existing furniture, computers, copiers, phone system , work stations, fridge, Keurig, microwave, window covers, pictures  and on and on or you can have vacant possession !

Just bring your butt, cheque book & paper files, ready to go.

By appointment only.

Property information