Houses For Sale London Ontario With Pool

Now that the weather is warmer and pool season starts, I have dedicated a page called houses for sale London Ontario With Pool.  Original, huh?

Well, at the writing of this post, there is 76 of them for sale in London Ontario and area, and on this page not only will you see some great houses, but you will get taxes, room sizes, walk scores, maps, schools and even my number if you want to see any of them.

Houses with pools London Ontario

London Ontario Houses With a Pool

If you have never owned a house with a pool before, it would pay to do your homework on pumps, heaters, covers, salt water vs chlorine, liners, cleaners and the toys.

Most real estate legal issues is because of pools!

As a buyer, protect yourself when making an offer by working with a Realtor who has pool experience and make sure you have clauses regarding the existing pool to protect yourself from unwanted expenses that you had not planned on.

As a seller, it can be a two bladed sword, however, an experienced Realtor can help prevent you from pool issues coming back to haunt you.

As with most things, you get what you pay for and sometimes you don’t, just know before hand what you are getting yourself into!

Enjoy the season

How To Have The Advantage When Buying a Home in London Ontario

If thinking or you are buying a home in London Ontario, did you know  that in some of the top neighbourhoods in London Ontario, some homes are selling in a day or two , (for asking price or even 10-18% more) and in some cases, the seller has jacked up the price to try to take advantage of this seller’s market?

Buying a house London Ontario

   Here are some very,very important questions you may want answered before you make a decision before buying a home in London Ontario.

  • What is the property really worth in today’s market?
  • What is the property worth in a normal market?
  • Will it be worth what you paid 5 years from now? (Don’t guess on this one or apply uninformed confidence that it will)
  • How flexible is the seller on closing date?
  • Will there be multiple offers?
  • If there are multiple offers and I have to go in with no conditions, what’s wrong  or could be with the property? (extremely important)

 All Houses & Condos For Sale on MLS            Search MLS London Ontario

Condos for sale on MLS in London OntarioAll Houses For Sale on MLS London Ontario & Area Houses With a Pool London Ontario

London Ontario Neighbourhoods       Communities Around London Ontario

Downsizing or Rightsizing London Ontario                     Income Properties London Ontario

Did you know you may NOT be seeing all homes for sale with the email notifications from the various home search websites you are registered with? We have access to properties for sale that are not listed for sale on MLS. (Home owners have asked us to help them sell, but there’s a few days lag time before they are searchable on MLS or they are doing a few bits of tidying up.

How about  a process that puts you in the driver’s seat? We like to take the time (which will save you many hours later and frustration)  to understand your individual needs by creating a personalised “property profile”.  We have an extensive network of contacts that clients have said have saved them  days and even weeks of searching.

Our contacts open doors .

Sutton Group Envelope Real Estate Opens Doors

Buying a home in London Ontario and area is usually the most expensive purchase you will make in your life and it’s not something you do every day of the week (unless you are like myself & our partners, we do it everyday, 7 days a week!).

Our past clients have found that our inovative Dedicated Buyer Program provides them with an objective and unbiased view of the property’s true worth and helps remove the emotion from the buying process. This coupled with expert negotiation skills allows our clients  to save thousands of dollars and in mostcases, quite a few problems. Remember:

  Price is what you pay, value is what you get” Warren Buffet

Again, when you engage in our Dedicated Home Buyer Program, we take the time up front to understand your needs, reviewing your criteria and designing a strategy to meet your goals. We then , ( at no cost to you, we only get renumerated AFTER you have successfully taken possession of your home) undertake an extensive research to match your purchasing criteria with properties for sale. We even have have access to many properties that may never appear on the open market (sometimes called “exclusive listings” or “pocket listings”).

Our full search service includes:

  • Initial consultation to listen to your wants, dislikes, must have’s and would like to have
  • Unprecedented  market research tools that most other companies have never even heard about.
  • Discretion, confidentiality and our work ethic.
  • Access to our support services such as  legal, home inspection, movers, trades people, property management etc.
  • We are never too busy because when you work with us as a buyer, not only will you have a professional experienced Realtor to help you ( extensive training and work ethics), we have a closing coordinator, three office administrators, an inside sales associate and a marketing specialist.
  • We all follow this great quote from Jack Bergman:  There never is enough time to do it right, but there is always enough time to do it over!”
  • Why not check us out?

A Sellers London Ontario Real Estate Market, How To Price a Home

 How To Price a Home When It Is A Sellers London Ontario Real Estate Market

Meeting a Realtor

You have decided to sell your home and have a fairly good idea of what you think it is worth. Being a sensible home seller, you schedule appointments with three local real estate representatives, (or a friend of a friend who has a friend). They set up a time with you and maybe arrive with a “Competitive Market Analysis” (which no longer is an accurate tool, I’ll cover that in another report) and they each recommend a specific sales price.

Amazingly, two of the Realtors have suggested prices that are lower than what you expected. Even though they have backed up their recommendations with recent sales data of similar homes, you remain convinced your property is worth more.

When you interview the third Realtor’s figures, his or her numbers are much more in line with what you think your home is worth. Or they may have even suggested to you a higher price. Wow! Now you are happy and an exited home seller, perhaps already counting the money.

   A Sales Practice Called “Buying a Listing”

If you are like most people, you have chosen Realtor number three. This is a Realtor who seems willing to listen to your input and work with you. This is a Realtor that cares about putting the most money in your pocket. This is a Realtor that is willing to start out at your price and if you need to drop the price later, you can do that easily, right?

 After all, everyone else does it! Wrong!

The truth is that you may have just met a Realtor engaging in a questionable sales practice called “buying a listing.” He/she “bought” the listing by suggesting you might be able to get a higher sales price than the other realtors recommended. Most likely, he or she is quite doubtful that your home will actually sell at that price. The intention from the beginning is to eventually talk you into lowering the price.

  Why do some “buy” listings this way?

There are basically two reasons: A well-meaning and hardworking Realtor can feel pressure from a homeowner who has an inflated perception of their home’s value. On the other hand, there are some who engage in this practice routinely.

Overpricing a property in London Ontario

If you start out with a price that is too high, there is likelihood you interviewed other Realtors. They did not get the listing, of course. They got “beaten” out by someone telling you what you wanted to hear.

If your listing Realtor routinely engages in “buying “listings, he/she has probably has done this to other Realtors in the same way. Word gets around that their homes are overpriced and the home seller has an inflated value in mind. This can be very difficult to resolve.

In short, you may have ended up with a Realtor who was good at selling you, but not good at selling your home. Are willing to pay them a fee for it?

wasting your time

It is human nature for you to want the highest price for your home. However, when you choose the Realtor who promises what you want to hear, it often leads to stress and frustration. Most of the time, it will take you longer to sell your home. Possibly, and this happens, you will end up selling at a lower price instead.

I know, I know, I know,  it is a seller’s market but even so, do you know how many homes that have been sold , even over the asking price and still, the seller left money on the table? 

What Happens Behind the Scenes?

If you start out with too high a price on your home, you may have added to your stress level—and selling a home in London Ontario is stressful enough! There will be a lot of “behind the scenes” action taking place that you don’t know about. Contrary to popular opinion, a professional listing Realtor does not usually attempt to sell your home directly to a home buyer. That would be inefficient.

The majority of Realtors market and promote homes to hundreds of other local Realtors and even Realtors from the GTA areas who do work with home buyers, dramatically increasing your personal sales force. During the first couple of weeks your home should be a flurry of activity with buyer’s agents coming to preview your home so they can sell it to their clients. (See my report “When is the most important time for a new listing)

   If The Price Is Right

If you and your Realtor have overpriced, fewer Realtors will preview your home. After all, they are Realtors, and it should be their job to know local market conditions and home values. If your property is dramatically above market, why waste time? Their time is better spent previewing homes that are priced realistically.

  Dropping Your Price Too Late

  If you start out with a high sales price, then drop it later—your property is “old news”. You will never be able to recapture that flurry of initial activity you would have had with a realistic price. Your property could take longer to sell.

Price reduced

 

Even if you do successfully sell at above market price to an uninformed buyer, your buyer will need a mortgage. The mortgage lender requires an appraisal. If comparable sales for the last six months and current market conditions do not support your sales price, the property won’t appraise. Your deal falls apart. Of course, you can always attempt to negotiate the price, but only if the buyer is willing to listen.

Your property then goes “back on the market”. Other Realtors will know this, as will their buyers, what do you think their response will be to your home?

Once your home sits on the market awhile, it is harder to get a good offer. Potential buyers will think that you might be getting desperate, so they will make low offers. By overpricing your home in the beginning, you could actually end up settling for a lower price than you would have normally received.

 In summary, when you decide to sell your property, why not work with a Realtor who knows the market and is financially and emotionally strong enough to guide you? Who will not tell you what you want to hear. The truth hurts but you might as well hear it now than 1 month later!

To get results, “Making assumptions is the mark of a lazy communicator!”

London Ontario Condos Are Selling

London Ontario condos are selling at a record pace and record prices, especially townhouses in London. So the question is, how do you, an owner of a condo , go about selling your unit?

Cross Fingers as a seller of real estate

What do most do? Call a Realtor they know or get a referral (because all Realtors are he same, right), then pick a price and then cross their fingers and toss and turn all night.

Selling a condo in London Ontario is a lot different than selling a house. It takes more skill to attract traffic (buyers) to your door!

There are only a few apartment buildings or townhouse complexes in London that allow a for sale sign out front, the majority of building do not permit signs or even notices in the lobby.

So, how do buyers know your  condo is for sale?

If you think that just being on MLS is all that is needed, think again. It takes a combination of MLS, external web sites, social media, blogging and links to prospective buyers!

Getting results (an offer) in a reasonable time (as of May 7, no more than 10 days is the norm)  should be the standard.

Learn how!

 

London Ontario Real Estate Sellers Market!

April Sales Down 19.6% in London Ontario and Area

  Sellers Market London Ontario

983 homes were sold in April 2018 recorded by The London and St. Thomas Association of REALTORS® (LSTAR), down 19.6% over April 2017, which set a record for the best April results since LSTAR began tracking sales data in 1978.

Home sales are down compared to the record breaking total in 2017 but they remain at par with the 10-year average. Home prices continue to rise across the area as there are fewer homes for sale than average.

The average April sales price in London and area was $367,433 up 5.0% over April 2017 and up 33.6% over April 2016. By geographic area, London South was $375,031 up 0.9% from last April. In London North, average home sales price was $454,847 up 7.3% compared to the previous year, while in London East, it was $306,469, an increase of 14.1% from April 2017.

In St. Thomas, it was $285,316 up 7.7% over last April with 72 homes being sold, down 23.4% from the same period last year. When looking at inventory, there were 56 active listings, down 38.5% from last April and down a huge 68.5% from April 2016.

Over the last few months, London has been challenged with low inventory, and that trend continued in April as there were only 1,401 active listings, down 13.9% from this time last year and down a whopping 50.6% from April 2016. The sales-to-new listings ratio was 70.9%, which the Canadian Real Estate Association (CREA) says represents conditions in the marketplace that favours sellers.

As the spring season is here, this may be an opportune time if you’re considering selling your home.

The following table is based on data taken from the CREA National MLS® Report for March 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.

City

Average Sale

Vancouver

$1,001,646

Toronto

$752,730

Fraser Valley

$736,179

Victoria

$684,061

Hamilton

$539,033

Kitchener-Waterloo

$484,371

Calgary

$465,607

Ottawa

$406,902

Niagara

$400,317

Edmonton

$374,159

London St. Thomas

$356,183

Windsor-Essex

$271,579

CANADA

$471,501

 March 2018 Numbers

February 2018 Numbers

January 2018 Numbers

Duplex For Sale London Ontario, SOHO

Photo Link
Pay Your Mortgage by living downstairs and renting the two bedroom apartment upstairs, great tenant who wants to stay in this well maintained duplex.

•   FOR SALE  CAD279,900 . A True Money Maker
MLS® 123305

Here you go, live inexpensively, live in the one bedroom unit on the main floor and rent the upstairs 2 bedroom with a great tenant who wants to stay! HVAC was completely installed and updated in October 2015 with two furnaces. Complete upper unit renovation, Nov-Dec 2015. Separately metered, upstairs tenant paying $850 and downstairs $750 with lots of parking. This duplex is in the up and coming SOHO district, short walk to downtown London.

Property information

Forgetting Anything When Buying a London Ontario Home?

Is there anything you are forgetting when buying a  London Ontario Home?

Buying a home, things to think about

I know that when I meet buyers for the first time, be it first time buyers or 5th time buyers and we go through a checklist of the buying process, I hear this statement all the time; “You know, I never  thought of that!”

  • How much exactly have you been preapproved for a mortgage, is it in writing and at what rate and is that rate guaranteed and for how long?

  • What lawyer are you going to use? Do they specialize in real estate and what is their fee, not just their real estate fee but their disbursements! (You would be surprised of the stories I hear where that low fee did not turn out to be low! Yes, the fee was low, but additional charges such as filing fees, record keeping, and blah and blah fees add up!) Get it in writing; they are lawyers, which would be their advice to you!

  • When working with a Realtor, do you have to sign a buyer agency contract? Not sure or what is Buyer Agency? Have your Realtor explain buyer agency to you and if they insist you sign one before showing any homes, fully understand what you are signing and how long you are committed to that Realtor.  In most cases you don’t and won’t mind being committed, but what if your relationship is not working out!?Be very careful!

  • What about a home inspection? Do not leave that to chance or google the least expensive inspector on the web. Home inspectors in Ontario are not regulated and would you trust hundreds of thousands of dollars for a home inspection to save $100 or $200?. A few tips.

Those 4 are the more common misunderstood steps in the buying process  that home buyers have, and, the most expensive!

 Buying a home is the easy part, it is the lack of details, lack of information or the lack of experienced professionals to help you that will make you toss and turn at night.

London Ontario Real Estate Growth, Commercial & Residential

 

                 London Ontario’s Real Estate Market Growth & Why

   Income properties London Ontario

There is a huge demand for secondary markets like London and this is where the commercial and industrial investors are going as per this latest financial report.

With that and there being a shortage of decent rental properties, we are seeing rental rates increasing and income property prices increasing as well.

Getting a cap rate of over 6% is a challenge for residential investors, however, the long term investor’s confidence level is quite high and with the average Canadian’s debt load at its peak, the demand for rental units, be they multi-family, townhouses or apartment condos and single family homes is very strong.

We can toss and turn all night long about interest rates until the cows come home, I know from experience that smart investors buy value first and then allow the economy to catch up, even if it takes a year or two.

I, being an advocate of positive cash flow from day 1, the last paragraph was difficult for me to write!

One thing I have learned over the years is to dress to fit the change in climate, Mother Nature can be finicky and act without any warning, so can the economy, the bureaucrats and the rent review board!

Spring is here, London is expanding, interest rates are low and the door is open for those seeking good financial opportunities in real estate.

House For Sale Westmount London Ontario, TLC Required

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TLC Required

•  2 bath , 3 bdrm 4-level split – FOR SALE  $318,000 . Take Advantage of the location, price and condition, no warranties and sold as is
MLS® 121060

This 4 level side split in Westmount is waiting for your TLC. 3 +1 bedrooms, 2 bathrooms, fenced back yard and large deck, great family neighbourhood, schools and parks & shopping near by.

Sold as is , no warranties , no chattels, water heater may be a rental, 5 days irrevocable all offers, all measurements, zoning & taxes to be verified by the purchaser

Property information

London Ontario Real Estate Market Down 37.9% March 2018

March Sales Down 37.9% in London Ontario and Area

Home sales in London Ontario and area in March 2018 were down 37.9% from March 2017 as reported by The London and St Thomas Association of Realtors (LSTAR), with 769 homes being sold.

  Why?

Very few houses and condos for sale, for example, there were 1,192 active listings (homes for sale), down 20.4% from this time last year and down 55.3% from March 2016. This is similar to last month with the March 2018 inventory being the lowest level for the month in the last 10 years.

London Ontario Real Estate Market

Average home sales price across London and St. Thomas continues to rise, despite the low inventory. The average March sales price in the region was $364,112 up 8.6% over March 2017.

Geographically, London South was $360,587 up 3.1% from last March.  London North, average home sales price was $438,827 up 7.1% compared to the previous year, while in London East; it was $291,161 an increase of 8.4% from March 2017. In St. Thomas, it was $295,980 up 18.5% over last March.

According to the Canadian Real Estate Association (CREA), a ratio between 40% and 60% is generally consistent with a balanced housing market. In March, London and St. Thomas had a sales-to-new listings ratio of 75.1%, which CREA says represents conditions in the marketplaces that favour sellers. It reinforces the trends LSTAR Members have been experiencing, with low supply and high demand, and also managing multiple offer situations and out-of-town interest in our region.”

St. Thomas saw a total of 73 homes sold in March, down 29.1% from the same period last year. When looking at inventory, there were 42 active listings, down 51.2% from last March.

The following chart is based on data taken from the CREA National MLS® Report for February 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 Comparison  Across Canada

February 2018 Numbers

January 2018 Numbers