Logic or Emotion When Buying Real Estate in London Ontario?

There is a Huge Difference Between Logical & Emotional Decisions When Buying or Selling a Home  in London Ontario or any other place in Canada

The majority of Canadians do not buy lor sell logically. Most buy or sell emotionally and then try to justify  those decisions logically.

logic or emotion when selling?

In real estate, some real estate salespeople logically try to convince their clients to buy. That is why they do not sell many homes or help buyer’s buy homes! Knowing that people will get involved in a property emotionally first & then; it is up to the real estate sales representative to provide solid, logical reasons to justify the purchase or even for that matter, the sale of a home.

Everything we buy is an emotional purchase. Take the shoes you are wearing. That is a logical point however the colour & style is your emotional choice.

What about a certain brand of food when there are 5 others just like it? We buy it because of advertising, or your parents or friends bought it. You do not logically decide which brand to buy unless you are a frugal shopper and even then, saving money is an emotional decision!

In real estate, the same thing. Everyone needs shelter of some kind, which is the logical point. The type they presently own or rent is an emotional decision. Buyers may want a home of a certain size or location or like they grew up in, that is an emotional decision. For others, it may be based on what they can afford.

That may sound logical but money and emotions are linked.

So, when it comes time to sell a house or buy a house or a condo, are they logical or emotional decisions?

To effectively get buyers involved in your home, your listing Realtor must help the buyer and their real estate salesperson make your house stand out physically, emotionally and financially.


To effectively help buyers to acquire your home, your salesperson must eliminate those things that create fear or tension and replace them with words; images and information that will make a home buyer want to invest their hard-earned money in your home.

When you are planning to buy, you may wantto do the opposite and from experience, I have seen well balanced people make some poor choices, which were emotional and not logic.

Logic or emotion is your choice! So is the Realtor you choose to help you.

Hyde Park London Ontario Real Estate Prices Still Up

Hyde Park London Ontario real estate prices are indicative of most of other London Ontario neighbourhoods.

2017 prices and the days it takes a house or a condo to sell in Hyde Park in London Ontario are setting all time records, will it continue? We are still seeing a shortage of quality houses and condos listed for sale and buyer demand has cooled a bit, I feel things will settle down late fall early winter.

 From January 1, 2017 to August 29, 2017, 234 houses in Hyde Park were sold through our MLS system for an average price of $400,454 which was 106% above the asking price and these were on the market an average 17 days!

 85 condos in Hyde Park sold for an average price of $252,353 which was 102% of asking and these took about 20 days to sell.

 As you can see, Hyde Park real estate is in demand, where do you stand if you are thinking about selling your house or condo in Hyde Park? What about buying?

What you do over the next 90 days is critical, I am sure you have heard that timing is important? In these roller coaster days of pricing and availability, this is where a professionalism comes into play!


    285 houses in the Hyde Park neighbourhood in London Ontario sold through MLS in 2016 , starting as low as $316,000 and up to $605,000 and these all sold close to asking price in about 31 days!

In 2016, 88 condos in Hyde Park were sold, from $218,000 to as high as $620,000 and these took about 41 days to change owners and for 98.4% of the asking price.

All the houses & condos for sale in Hyde Park London Ontario on MLS

 In 2015,  245 houses changed hands through MLS (on the market an average 37 days)  in the Hyde Park neighbourhood of London Ontario and those that sold, did so for $286,618 which was 2 % less than the asking price.

For condos in Hyde Park, 95 sold for an average $215,645 and these took about 53 days to sell.


Hyde Park London Ontario Housings Stats

In 2014

Home sales in 2014 in Hyde Park London Ontario were quite active with 294 houses selling for an average $281,782 which was 98% of the asking price and those that did sell were on the market an average 34 days.

In this same period, 138 condos in Hyde Park sold for an average price of $186,292 which was 98% of the asking price and these took an average 55 days to sell!

All in all, a very stable market and as Hyde Park keeps attracting more retail and service businesses, the housing market will continue to grow.

Hyde Park London Ontario Map

Other London Neigbourhoods

Home Improvements To Sell a House in London Ontario

There are basically two ways to go about home improvements when selling a house in London Ontario.  You’re either going to splurge because it’s your home and you simply want a beautiful place to live, OR, you’re going to take a more logical, pragmatic approach designed to increase your home’s value.

Problem is, it is quite difficult to achieve both. Many homeowners expose themselves to the very problems they’re trying to avoid in the process of home fix-ups.

Take Carol and Tom Morehead, who seven years ago purchased a home for $390,000.  Since buying their home, they’ve spent over $60,000 fixing it up and making it the “perfect” place to live.  A few months ago, they put the home on the market with another brokerage at $519,000.

The best offer they received was only $477,000.

  Their mistake?  Spending money on amenities and features that did not add true value to the home and also, it was the highest priced home on the street. Because their house did not sell, they called me in to give some advice. (You now are reading what my advice was)

Just because you spend $30,000 or $60,000 on the fix-up of your home doesn’t mean you’re going to get it out when you sell.  It doesn’t automatically make your home worth $30,000 to $60,000 more.  And that’s exactly why you may want to know which fix-ups pay off big, and which ones could cost you potentially thousands of dollars.

Another house sold by Ty

Sold by Ty Lacroix

  A Possible Solution?

There is no question, getting the best dollar for your home is not as easy at it appears.  One poor move can cost you thousands. That’s why I  have created a proprietary system meant specifically for homeowners looking to increase the value of their home.  My Home Seller Fix-up report that will get you a great return on your renovation and if you do decide in the future to put your house or condo up for sale, I do what I call my ‘No Charge Home Audit’.

Getting ready to put your home on MLS should be thought out carefully and what you like, maybe most buyers will not.

Why guess? Why gamble?

Ontario Landlords Can Increase Rents 1.8% in 2018

1.8% Rent Increase Allowed for Ontario Landlords in 2018

Ontario Landlords

Ontario Minister of Housing Chris Ballard announced that the 2018 provincial rent increase guideline has been set at 1.8%, up .3% over the current year.
The annual rate of increase is based on the Ontario Consumer Price Index, a measure of inflation that reflects current economic conditions affecting the
As in previous years, this amount is the maximum that a tenant’s rent can be raised without approval from the provincial Landlord and Tenant Board, and applies to all new rent increases made between January 1 and December 31, 2018; it is also retroactively effective as of April 20, 2017.
Unlike previous years, however, the ministry’s annual rent control guidelines have now been expanded to include all private rental units, including those built as tenant-occupied premises on or before November 1, 1991.
This anticipated change results from the recently-passed Rental Fairness Act, 2017 that was introduced to protect an estimated 250,000 Ontario renters living in pre-1991 units from unreasonable and/or unpredictable rent hikes.
Ballard, who is also the minister responsible for Ontario’s Poverty Reduction Strategy, said the aim of the expanded 2018 rent increase guidelines is to make the housing market fairer for all, “ensuring that everyone in Ontario has the peace of mind they need…”


Please visit
to read the entire Government of Ontario announcement.

How To Set a Price For London Ontario Houses

Setting a Price on A London Ontario Houses, Exciting or Scary?

When most home sellers sit down to interview a Realtor, it’s easy to get caught up in the excitement of choosing a sales price. More money means more financial opportunities . Perhaps it means you can afford to buy a larger home, help pay off some debt or take that long overdue vacation.

Unfortunately, some home sellers often choose the Realtor who suggests the highest list price, which is the worst mistake a seller can make.

Establishing Value 

The truth is it doesn’t really matter how much money you think your home is worth. Nor does it matter what your Realtor thinks or ten other Realtors think. The person whose opinion matters most is the buyer who makes an offer.

Pricing homes is part art and part science. It involves comparing similar properties, making adjustments for the differences among them, tracking market movements and taking stock of present inventory, all in an attempt to come up with a range of value, an educated opinion.

Even in the present hot market we have in London, choosing a price higher than your neighbour’s house that sold a month or two ago can come back to haunt you.


The market can shift very quick and even though our market is strong, there are still great homes for sale that have been on the market for 40-60 days, unfortunately, they are price wrong.

pricing a home ls like chess

This method is the same way an appraiser evaluates a home. And no two appraisals are ever exactly the same; however, they are generally close to each other. In other words, there is no hard and fast method  to slap a price price on your home. It’s only an educated guess and the market will dictate the price.

 Is it Too Low? 

Homes sell at a price a buyer is willing to pay and a seller is willing to accept. If a home is priced too low, priced under the competition, the seller usually will receive multiple offers to drive up the price to market value. So there is little danger in pricing a home too low. The danger lies in pricing it too high and selecting your Realtor solely on opinion of value.

How It Starts To Go Wrong :  

Here is a story of a seller who did not even interview Realtors. She plucked the first one off the Internet because, “He looked like such a nice guy and he is with that big real estate company in London.” He priced her home at $499,000.  After 27 days, no offers.

Continues To Go Wrong She then lowers the price to  $489,900 . Lots of showings but not offers. Eventually , another 30 days pass and the price is reduced to $479,900.  A few lookie-loos, tire kickers and eventually an offer of $449,900!

The sad part is the comparable sales in the neighborhood fully justified a price of $475,000, but the home had been on the market for too long at the wrong price, and now the market had softened.

London Ontario House

 Protect Yourself 

The question is how much money does it cost the sellers if a home takes a long time to sell? The financial loss often exceeds the extra mortgage payments paid and goes beyond the uncompensated hassle factor of trying to keep a home spotless during showings. It affects the value that a buyer ultimately chooses to pay because it’s not a fresh listing anymore.

It’s now stale, dated, a market-worn home that was overpriced for too long.

So, how do you protect yourself? An experienced listing Realtor who is willing to tell you the truth about the value of your home and have the strength & skills to back it up  is a start.

Homes that sell within 30 days usually sell for asking price or even more!

Will Energy Costs Affect The Sale Of Your London Ontario Home?

   Will energy costs affect the sale of a home in London Ontario?

It is possible.

With predictions that energy costs may increase by as much as 40% over the next few years, if not all ready, have you had a look at your hydro bill lately?

energy costs could affect the sale of your home

 The Affordability Rule for Home Buyers Called PITH

The monthly housing costs shouldn’t be more than 32% of gross monthly income. Housing costs include monthly mortgage payments (principal and interest), property taxes and heating expenses.

  • Principal,
  • Interest,
  • Taxes
  • Heat

For example, if income was $50,000 a year, the gross monthly income is $4,167, therefore to stay within the 32% range, the PITH rule is $1,292. If the mortgage payment is $1200 a month and utilities such as water, electrical, gas averages $360 per month equaling $1560 per month, you would be over the 32% rule, it is actually at 37% and in most cases, not qualify for a mortgage.

At $60,000 per year, which is $5,000 a month, the 32% would be $1,600.  Here is a great link for you to learn more about debt percentages and rules.

So, what has that got to do with selling your home in London Ontario and area?

You will attract more buyers in your price range because more buyers would qualify for a mortgage if energy costs were below average.

It holds true for a $100,000 plus income earner as well.

Before upgrading your home and doing improvements, your first priority may be to see how to get the energy use down.

As well, when buying a home in London Ontario, do not just look at the purchase price. What is it going to cost to maintain it? It would be real wise to know exactly what the utility costs are, it will help get approval for a mortgage easier and if you were ever to sell your home down the road; you know your home with a low energy use will sell quicker than a home that has not been energy efficient.

In two separate instances last week, my buyer clients chose homes that were more energy efficient over others in the neighbourhood, even over better priced ones, and in one case, over one that they loved but could not get their head around the expense it would have taken to get the home energy efficient

One was a condo townhouse with electric baseboards and the other was a 23 year old house with original windows and the original furnace.

Thinking of Moving to London Ontario & Buying Real Estate?

London Ontario is seeing a boom in people realizing that the price of a house or a condo is considerably less than the majority of other major cities, that the lifestyle here is less tense and that the amenities that London has to offer is second to none.

I work with couples every week who have decided to sell their home and move to London for many reasons , the number one reason is they are capitilizing on the equity in their home and buying here in London and still have 50-60% of their equity left!

 Where to start?

Moving to London Ontario


Have you ever wondered what it’s like to live in a particular neighbourhood or style of a home? Perhaps you’ve driven through an area and fallen in love with it. Maybe you have a friend who lives in a neighbourhood you’d like to live in some day.

How do you find out more about that area or condo complex?

Well, you could Google it and get some preliminary information on that community. You can go to Realtor.ca and get confused,


A better, and certainly faster and more accurate method is to call me.You see, I know the marketplace. I can provide you with in-depth information on the things you’ll want to know about real estate before you buy or sell.

For example, I can provide details about:

  • Type and style of homes.
  • Pricing over the past 12 months or the last few years.
  • Age.
  • Local amenities such as schools, parks, community centres, etc.
  • Commuting routes and access to public transit.
  • Properties currently on the market and recently sold.
  • Inexpensive touch ups that can help sell your home faster!


So, if you’re in the thinking stage, I most likely can give you all the information you need and if not, I’ll get it for you.

Frustrated Buying a Home in London Ontario?

Are you spending countless hours searching the MLS, real estate magazines, weekend classified ads and real estate websites looking for the ideal home for a great price and in a great neighbourhood in London Ontario?

looking to buy a house in London Ontario


If you enjoy doing that, great. Are you aware you may be missing out on some great homes that sell in a day or two or a home that was priced quite so agressively that it sells as soon as it comes on the market or on a specific street?

Do you think you will get a head jump on others by searching daily or weekly? Avoid paying commissions? Avoid a pesky or bothersome real estate person (don’t blame you)?

Or, perhaps you are curious or you are in the ‘just thinking stage’ of real estate. Perhaps to purchase or sell.

Regardless, real estate changes, people change, neighbourhoods change, real estate markets change and the motivation of buyers and sellers change.

So how do I, as a real estate professional, as a Broker of Record and Owner keep you, the curious, the maybe, the must have by the end of the month, the retiree, the downsizer, the upsizer, the DINK’s (double incomes,no kids), the tire kicker, deal maker, bread winner or just plain ready to move informed about real estate in London Ontario?

My asociates and I view a lot of houses and condos every week. We do loads of searches daily for clients, we are constantly researching properties, even For Sale By Owners.

we  find houses in London Ontario

My tastes are different than yours, my taste in neighbourhoods, price affordability, style of home, school district, what side of the tracks, how close certain amenities are and I bet, hundreds more.

As professional house hunters in London we know the jungle, the alleys, the streets, avenues, crescents  and can guide you on the right path to ensure your purchase is wise & financially sensible.

Love it or Leave It” London Ontario’s Only Home Buying Guarantee

100% Home Buyer Guarantee

If you obtain a home through Sutton Group Envelope Real Estate Brokerage and you are not 100% pleased with it, we will sell your home for you for FREE! We offer this guarantee within the first 24 months after you purchase the home.


We want you to be totally satisfied with your home and will do everything to get you into a home that you will love…Guaranteed!

We are confident that we have the ability to listen to you and to being dedicated in finding the “Perfect Home” for you.  We take 100% responsibility; we offer no excuses and no finger pointing.

That’s why we are willing to work for FREE if your home isn’t everything you expected it to be.  You have nothing to lose,

There is some fine print and here it is:

This home buying guarantee excludes commercial properties, investors & students.

You won’t have to jump off any cliffs, scale any mountains, wrestle a crocodile, put up with a pushy real estate salesperson, cross-eyed lawyers, impotent mortgage lenders, near sighted home inspectors, all you have to do is put up with us!

Ty Lacroix


Beautiful House For Sale in Westmount, London Ontario

Photo Link
Excellent Condition

• 3 1/2 bathrooms , 3+1  bedroom beautiful house for sale in Westmount in London Ontario, only  400000 CAD . Tremendous Value

A stunning 2 storey 3+1 bedroom, 3 1/2 bathroom house that has been impeccably maintained & updated in sought after Westmount.

New 50 year warranty roof installed June 2017, maple hardwood floors, beautiful designer kitchen with granite counter with a built in office nook, high end appliances and french doors to a professionally designed back yard with a potters shed and gazebo.

Separate dining room with pocket doors and a nice family room with a brick fireplace that you will love. Main floor laundry room.

Upstairs the large master bedroom has a walk in closet and master ensuite, the second bedroom has a walk in closet and the third bedroom is a very nice size along with a modern four piece bathroom.

The basement has been professionally designed and built with a fourth bedroom and a spacious family room

Interlocking brick drive way, 1 1/2 car garage with an inside entry along with an automatic garage door opener.

If you are looking for a house in a desirable neighbourhood, with great schools, close to shopping, on a bus route and more importantly, a home that has been carefully looked after with details that you would expect in a house twice this price, then this one may be for you.

Showings start on Friday August 11, why not book your appointment today!

Property information