Is It Possible To Get A Good Buy On A London Ontario House For Sale?

When buying, everyone that I have ever helped wanted a good buy on a London Ontario house for sale.

Saving money when buying real estate London Ontario

  What is a good buy?

  • Gobs of money off the listing price?
  • A little off the listing price?
  • The seller lets you have his lawn mower and snow blower? Their cat?
  • The house or condo is what you wanted, is in the neighbourhood you wanted and in a very good condition?
  • You bought something bigger & nicer than your friends have?
  • Was it listed at a fair price?

   So how do you know its a good deal?

  • You think it is (perspective)?
  • You feel it is?
  • Your Realtor said it is?
  • Your hairdresser said it is?
  • Facts and neighbourhood history say it is?

Buying a home and deciding on one is an emotional ride that you get to slow down with logic, but whose emotions, yours, your Realtors, your children, spouse, in-laws?

When buying a home, use logic first in whom you choose to help you, not only a Realtor but a lawyer, a home inspector if needed and a mortgage provider. Choose those first before you even go and look at a house or a condo.

  That way, you will get a good buy!

A London Ontario Realtor’s Largest Competitor

A Realtor’s largest competitor, deal breaker & stressor is themselves!

I am not popular in stating the above, I am criticized and have been threatened by others to report me to our licensing board for disparaging remarks about Realtors.

Definition of a Realtor's Competitor

Let me be clear and blunt; I can say this and prove it. I am a Realtor. I am the owner of a very small real estate brokerage in London Ontario; I am also the broker of record which means the buck stops with me, any success or failure starts and ends with me. I am 100% responsible.

My biggest competitor is me, any transactions that were not successful it would be easy to blame the buyer, the seller, the lawyer, the mortgage company, the economy, the weather, the Blue Jays had a losing season, it’s a long weekend or fill in the blanks here.__________________!

That 24 hours a day other person living in your head, do this, do that, continually talking and talking to you. If we had a friend like that we would lose them very quickly.

Being involved in hundred’s of transactions over the years, I have seen, heard and experienced the good and the bad, even the ugly.

So why am I still helping residential buyers and sellers, investors and other Realtors get what they want? I love the challenges and realize that not only am I my most significant competitor, but every person I come into contact with also have that second person inside them as well, their antagonizer! Spouting all the negatives, contradictions, positives and negatives every second.

So, am I perfect, do I have a 7 step program that will instantly change your life? No!

I know for me because I am a work in progress, I have the courage every morning to understand that I am the enemy. That frees me to eliminate ego quickly, that I must work harder, learn more, be more, see more, that any failure is a lesson and at the end of the day when I give 100% and have empathy, I have beaten my largest competitor!

That is called success. That is called freedom to excel!

Who Do You Listen To When Buying London Ontario Real Estate?

When you go shopping for a house or condo to buy, two homes are competing for your attention: the one that meets your needs, and the one that fulfils your desires.

looking to buy a house or a condo in London Ontario

In one of the greatest financial books ever written, ‘The Richest Man in Babylon,’ George Clason writes that there are two kinds of study: the one type being the things we learned and knew, and the other being the training that taught us how to find out what we did not know.

I read this book yearly to refresh and remind myself of some straightforward financial basics, while very simple and easy to do, most Canadians do not follow, perhaps because it is so simple to make wise financial decisions.

It is like a person complaining of a sore belly, goes to their doctor and tells the physician that Dr. Google says it is blah blah blah! The kind physician ( the one not rolling their eyes or thinking “Oh no, here we go again) will ask questions, identify the cause or the remedy and treat the problem.

In real estate the same thing, wise, intelligent people listen to what their neighbour or co-worker says, read “how to save thousands when buying real estate’, or watch all those reality shows and then become experts in buying a house or a condo.

Home sellers and their real estate representative love you, because you are the one who overpays for a home (yet brag that you got a good deal, yadayadayaa) or find out that the house has structural issues or a neighbourhood stigma.

It’s like losing weight; it’s easier to buy bigger pants!

Getting back to The Richest Man in Babylon, why not let your ego sit down for a while and find out what you do not know about buying or selling a home? In real estate, we do not have a Dr. Google, but we have everyone who has ever bought or sold a home as experts on how to buy or sell a home.

If I offended anyone by being blunt with the last paragraph, hopefully, I have at least brought more awareness that perhaps you do not have all the answers and that a professional Realtor may be your greatest asset.

London Ontario Real Estate Market For November 2018 Saw Price Increases

The London Ontario real estate market in November 2018 was quite robust with seven hundred forty-six homes sold through The London and St. Thomas Association of REALTORS® (LSTAR) in November, up 6.7% over November 2017 & 3 short of the record 749 sales in November 2016.

November had 898 new listings, an increase of 17.5% over the same month last year. The area of London East continues to be making healthy gains in both new listings and average sales price. It had 192 new listings, up 24.7 % from November 2017, where the average sales price was $302,737, up 18.7% from 2017 and up 58.9% compared to five years ago. Going back further, that’s up 75.0% compared to 10 years ago!

In London North, the average sales price was $482,202, up 24.4% from last November and up 62.4% compared to the same month five years ago. It’s an increase of 98.7% compared to the average sales price in 2008.

The sales-to-new listings ratio was 83.1%, which the Canadian Real Estate Association (CREA) says represents conditions in the marketplace that favour sellers (a rate between 40% and 60% is generally consistent with a balanced market). Looking at the major centres, St. Thomas had the highest sales-to-new listings ratio at 97.0%.

Contact me for a breakdown of prices in your neighbourhood or street, or condominium sales and prices.

The following chart is data taken from the CREA National MLS® Report for October 2018 (the latest CREA statistics available). It provides a snapshot of how average home prices in London and St. Thomas compare to other major Ontario and Canadian centres.

London Ontario Real Estate Marker Comparisons

 

Is It Possible Your Next Door Neighbour In London Ontario Is Wealthy & You Don’t Know?

Is your next door neighbour in London Ontario wealthy?

How would you know or do you even care? Is it the largest house, the most toys, the fanciest cars, the exotic vacations, their job, title or profession?

Is it appearances? Is it perception? Is it frugality? Is it cheap?

the Millionaire next door

In the first paragraph in a book called “The Millionaire Next Door, The Surprising Secrets of America’s Wealthy “ by Thomas Stanley and William Danko, these two researchers wrote:
“Twenty years ago we began studying how people became wealthy. Initially, we did it just as you might imagine, by surveying people in so-called upscale neighbourhoods across the country. In time, we discovered something odd. Many people who live in expensive homes and drive luxury cars do not have much wealth. Then we discovered something even odder: Many people who have a great deal of wealth do not even live in upscale neighbourhoods”.

As a Broker of Record and an owner of a real estate boutique in London Ontario, I do a fair amount of volume and get to see lots of houses and neighbourhoods in London, and after all these years, I have the opportunity to keep shaking my head!

I get to see first-hand; people who are mortgage poor, have high credit card debt, have depleted lines of credit as well as mortgage-free homeowners, own free and clear economy transportation, are usually debt free and in most cases, free from that regular day to day money fears.

The first group continues to spend, working harder and longer to help lenders get wealthy and waiting for someday to retire and be debt free!

Every calendar I have ever seen has seven days on it, I have never seen ‘someday’ on one yet!

Downsizing is not just for old folks, baby boomers or mobility challenged individuals. The hardest part for most people is worrying about what their family, friends and co-workers will think.

Maybe, just maybe, they too are treading water or sinking (both are very similar ) as well!

Note: This is not intended to disparage anyone, criticize or sound like a doomsayer, I am quite energetic and positive about life and have lived and experienced both sides of the scale! Only one side has the financial & time freedom, and it now will depend on what price you are willing to pay to find out on which side that is.

mortgage free or in debt? your choice