Does It Pay To Downsize To London Ontario?

Does it pay to downsize to or in London Ontario? Downsizing the family home can be one of the hardest decisions to be made and unfortunately for some, the decision to downsize may be financial or health related.

Last week I met with a wonderful couple who have contemplated downsizing for the past two years. I stunned them when I recommended to them that do not downsize yet! Yes, I am a Realtor and I help people sell and buy real estate but I also am a councillor and look after the best interests of my clients.

This couple were in relatively good physical and mental health and were thinking about downsizing for financial reasons. Upon reviewing their existing house, the neighbourhood, where they were wanting to downsize to, I said that they would not be better off economically if they moved!

Every situation is different but not full understanding the financial implications and future expenses, can wreak havoc of someone’s life work and savings.

I used this great financial downsizing tool to help them and I share this link with you as well!

The Price & The Sale of London Ontario Homes

    Well Researched Pricing Leads to  Your House Selling in London Ontario

Over 94% of home buyers surf the internet to begin their home search. That means home buyers are well aware of which houses are available & what the asking price is.

searching for a house to buy in London Ontario

Today’s home buyers are wiser and have access to information that was not available years ago. Industry surveys show that the average home buyer sees 10-16 homes before making a decision!

What that means in most cases is that home buyers and their sales representative know the market for homes similar to yours. Yes, every home may be unique and have different features but to get market value for those features and uniqness is another issue all together and that is what marketing is all about.

Knowing that, now more than ever, pricing is the key to selling a house in London Ontario and area. Some home sellers think that a higher price will give them some negotiating room. But in fact many buyers don’t even look at a property that is overpriced; much less make an offer on it. This can lead to the house listing becoming tired or in the worst case scenario, not selling at all.

The first question a home buyer asks me when showing them a house to buy is “How long has this house been on the market?”

an expired listing

If it has been on the market more than 20-25 days, buyers wonder if there is something wrong with the property. After a while, the home seller then has to drop the price, taking less than they might have if they had priced it correctly to begin with.

Homes that are well-priced attract the buyers in their price range.

If the buyer’s perception is that the property is a good buy, then the seller is positioned to receive the listing price or close to it.

In closing, when selling a home in London Ontario and area, how thorough is your research of the real estate market? Or your Realtor?

Our research team is second to none and we are not afraid to tell you the truth!

Should a Realtor in London Complain About a Client?

Whacky Wealtor Thoughts

Where on my website does it say ” If you are wierd, different, a complainypant, pennyless, unwashed, rude, your nose up your ass couple looking to buy or sell a house in London Ontario, call me?

Is in a code someplace? Subliminal? The page colours, text, time of day or is that some partake in amber liquids, inhale funny stuff, are short a brick or shallower than a kiddy pool?

I have changed the dates ( if implied), the gender ( if I could tell) and perhaps the neighbourhood.

I get an email from a man who said he had read all my reports, pages and blogs  and wanted to meet me to help him buy a house for him and his mother. Great , I set up an appointment and in the mean time as requested, he sent me his criteria, price range and other pertinent information.

I meet him at my office, seems normal enough, but the more and more he talks and discloses, some things pop up such as his past neighbours were idiots and jerks, no need to get a mortgage, he can pay cash for a $350,000 house.

Me: “You mean a cheque?”

Him ” No, cash”

 Me ” The money does not go to me, it would go to your lawyer who in turn would transfer the fund to the seller’s lawyer upon closing.”

 Him ” I don’t trust lawyers” 

 Me “Why do you say that?”

 Him: A ten minute rant, blah,blah,blah stuff .

     Red flags as a Realtor in London Ontario

 Me: “Well, I cannot help you, you are going to have to use a lawyer.” (Red flags are waving in front of my face, in my subconscious, slapping me across the side of the head.)

 Him: “Ok, will you help me with the names of a good lawyer?” ( Aha, here is my chance to refer him to some lawyers in London just to spite them. But, being a Christian, a professional, kind and sometimes stupid and naive man, I say)

 Me: “Yes”

 So, I research the properties available that meet his criteria and we narrow them down to 2 pretty nice looking houses in good neighbourhoods of London. I review with him the past history of the house, the price comparables, taxes and other real pertinent details that a home buyer should know.

  We book a time for the next day to go see the two houses. That evening, I get an email from him asking if I could help  find a private investigator. You see, it turns out that dog barking causes stress for his mother and he wants me to ensure that there are no barking dogs within 1 block from the house and to put a clause in any offer that the seller guarantees there are no dogs nearby!

  As I have already told him that is a very unusual request and I could not and would not canvass the block for barking dogs, hence, he would hire an investigator for a week to make sure there were no dogs!

 Now, those red flags are jabbing me in my stomach, actually snapping because of the blunt blows to my head and I wake up and say: “Sorry, I cannot help you and I wish you the best”.

 He says: ” Could you refer me to someone else?” ( Wow, another chance to get even and give back to a few peers, but no, being a former beaver cub, sea scout and an all around good guy, I said that I could not think of anybody off the top of my head.)

 End of the story, right? No way, there is more. 

Stay tuned!

Beautiful 3 Bedroom House For Sale London Ontario

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Great family neighbourhood, this 3 bedroom house at 22 Millridge Ct in London Ontario is value priced and a great move up home for a young family, it was for the present family!

•  2 bathrooms , 3 bedrooms, 2 storey – FOR SALE  CAD299,922 . Value Galore!
MLS® LS101001

What a nice 2 storey home in a quiet family neighbourhood. The kitchen was upgraded in 2016 with cabinets and a counter top. A very large bright living room with a walkout to a large 3 season sun room.

6 Appliances included.

A large fenced backyard with a garden shed and raised garden boxes. Upstairs are 3 good sized bedrooms and in the lower, a beautiful family room with a gas fireplace.

Lots of storage and furnace and air are 2009. Parking for 4 in the driveway.

Close to schools, shopping, trails and very easy access to Veterans Memorial Parkway.

Book your appointment today to come and see this value packed home.

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Muskoka in your London Ontario Back Yard? Yes

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Muskoka in Your Back Yard may not even describe fully the beauty and the work that the owners have created , come and have a look and add your creative touches and enjoy  a combined city and country living at 88 Cantley Crescent in London Ontario.

•  4-level split “Back Split” , much larger than it looks- FOR SALE  $369,988 . Why Buy a Cottage?

Where do you start to describe the features of this immaculate back split on a 240′ deep lot? I can talk about the granite counter tops and custom cabinets in the kitchen, the stainless appliances, gas stove, window shades, the large family room, a gas fireplace & oodles of storage.

Hard wood flooring, roof 2016, windows and doors 2014 and furnace and air about 11 years ago.

The 21 1/2 foot family room with a gas fireplace with lots of light is a nice treat in those cold nights.

However, the back yard is Muskoka within feet of your side door! From the covered BBQ cooking area, the huge 16′ x 32′ above ground pool that is 4 ‘ deep, , a beautiful deck , one 30′ x 16’ covered and another that is 20 x 16! Wooden walkways, outdoor bar and mood lighting.

A bunky or mother in law quarters has hydro to it , a fish pond and thousands of dollars in perennials, grass to play on and even a garden patch! If you love the outdoors, privacy and comfort, this home will appeal to you.

Make an appointment today!

Note: This home is much larger than it looks, you will be quite surprised when you step inside and wait until you walk out back.

Extra wide driveway, parking for 4 cars and a beautiful landscaped grounds.

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Downsizing ? How To Price Your Home to Sell

The Secret to Pricing Your Home to Sell

  A home without a buyer has no value in the market place. Sure it might have a value to you the seller, and it might have a value to your banker, and to your insurance agent, and to your appraiser. But none of these people are buyers.

  Answers to Pricing a Hone Correctly

   So here is the secret to pricing your home to sell – It’s not what you think the home is worth that matters, it’s what a reasonable buyer will think your home is worth that will ultimately determine if your home will sell.

   Now you may be thinking – Hey wait, if I left it up to a buyer, they would pay me as little as possible for my home. True, they would. But in the real world every buyer knows that you, the seller, have no obligation to sell your home at any price. To purchase your home the buyer will have to make you an offer you can’t or won’t refuse. 

   But here-in lies the trap that many sellers fall into (I did when I first started in the real estate business), which is the mistaken idea that we can hold out for an inflated price and eventually the market will come to us.

  Wrong!

  Buyers are under no obligation to buy any particular home, and no amount of marketing, open houses, websites, or signage will motivate a buyer to purchase an overpriced home.

 Why?

  Because they can buy one of your neighbors homes for less! This reveals one of the most important considerations in pricing your home – Price VS Time.

  Understanding Price VS Time

   The age old dilemma that has faced buyers and sellers since the dawn of private property rights is a simple question:

  What is more important ,price or time?

  Believe it or not this conundrum underlies and controls every sellers decision to sell, and every buyers need to complete a purchase. For sellers this boils down to the need to sell within a set time frame or instead to hold out for the best possible price, and as you might guess, for buyers it’s the need to buy within a set time frame or to purchase a home for the lowest possible price.

   A seller who would like to sell for top dollar should be prepared to potentially wait longer for a buyer willing to pay a premium price. Like trying to sell ice during December, a seller might have to give the stuff away just to get rid of it, but if they wait long enough, say until mid-August when temperatures crest over 100 degrees suddenly that same ice can have real value. On the flip side, a seller who needs to sell quickly, and doesn’t have time to wait, should expect to discount their price somewhat because of the limited time they have to expose their home to the market.

   What’s the difference?

  Timing!

   Buyers are in the same boat. A buyer who has the luxury of shopping for a home over a long period of time can probably wait to find a bargain, while another buyer who must buy a home in the next few weeks will probably be willing to pay a premium. Again it boils down to price vs. time. So you might ask yourself what is your highest priority – Selling quickly or selling for a higher price?

   When I pose this question to my own clients they answer – I want both! The funny thing is that they aren’t kidding!

   Quite a few home sellers want their cake with icing on top. Because of this, many homeowners will attempt to put the responsibility of getting both top dollar and fast sale on the back of their hired gun, the real estate agent. The result can be summed up in one word – frustration. Why? Because no matter how much a seller yells, screams, and kicks a real estate agent, they don’t do miracles.

  This is why successful sellers understand that while a real estate agents job is to provide marketing, expert advice, and negotiating services, in the end they don’t own the property. They don’t make the final decisions on pricing. The seller does, and ultimately the seller’s asking price will in large part determine how slowly or quickly the home will sell.

  Successful sellers have learned that to price their home accurately means they need to think like a buyer, they need to get inside a buyers skin and look at the world through a buyers eyes. If you’re like most buyers you would probably start online by viewing listings to get a general feel for local home prices.

Searching for houses for sale in London Ontario

   As a typical internet empowered real estate buyer you will look at an average of nine homes over 1-2 weeks with the assistance of a real estate professional. By the end of your journey, like many buyers, you become so knowledgeable about the market that by the last showing you are able to guess, with reasonable accuracy, each homes listing price before your agent can even tell you.

  So what happened here? As a buyer you went from a blank slate, with no impression of the market to having the ability to predict listing prices. A big leap sure, but this description is exactly what most buyers’ experience. 

   So as you can see, pricing to sell your home is not the price your neighbour suggests, or a friend of a friend, or to recoup your costs of a poor renovation or upgrades.

   When we do an Envelope Home Audit and a thorough CMA, you can rest assure that the price we come up with is the one that will enable your home to sell quickly and for you, netting the most money. Remember, homes that that sell for the most, sell quickly!

 

One Floor Townhouse For Rent in North London Ontario

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Upscale Neighbourhood, one floor townhouse for rent in North London, easy access to Masonville and Western

•  3 bath , 2+ 1 bdrm single story town home condo  – FOR RENT  CAD2,100 ML . A Lot of Value
MLS® LS100747

A spacious one fWesternloor Condo in desirable Masonville area for rent for only $2100 + utilities!

Main level with cathedral and 9′ ceilings & transom windows plus a finished lower level with family room, additional bedroom and a full bath. There’s plenty of additional storage area too!
Oversized great room with gas fireplace and access to rear deck. Crown Molding in Foyer. Main floor laundry.

Master ensuite and master bedroom walk in closet. Bright kitchen with granite counters. Gas hook up for BBQ. Central Air new in 2017.

Spacious double garage and stamped concrete driveway (approx. 2012). Lovely front courtyard plus a deck at the back. A fabulous home in a wonderful complex in one of the best areas in London!

Showings by appointment only! Book today

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Townhouse For Rent 101 Brookside London Ontario

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Move in Ready townhouse for rent at 101 Brookside St #34 in London Ontario for only $1395 per month plus utilities

•  2 bath , 3 bdrm townhouse –  . Great Price
MLS® 100713

What a wonderful town home complex , centrally located, short walk to Victoria Hospital and with easy access to downtown or 401. 3 bedrooms & 1.5 bath includes finished lower family room and five appliances included. Large master with a bay window, open bright eat in kitchen, hardwood flooring on main level & tiled kitchen floor.

New furnace and air conditioner will help lower your energy bills.

For lease only at $1395 plus utilities.

This town home backs onto green space that’s private and quiet.

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Quality House For Sale London Ontario 2143 Wickerson Road

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Great Family Neighbourhood, Quality 3+1 bedroom house for sale London Ontario at 2143 Wickerson Road in Wickerson Heights

•  1940 sqft , 4 bath , 4 bdrm 2 storey – FOR SALE  CAD514,900 . Loads of Upgrades
MLS® 100663

A beautiful custom built 1940 square foot 3 + 1 bedroom house that has been meticulously maintained and still looks like a model home. The landscaping has been professionally designed and built with a beautiful stamped concrete patio complete with a fenced back yard and sitting in the Wickerson Heights neighbourhood, high up on the bluff. Enjoy sunsets, a great view and relaxing while sitting on the back patio and bask in the sun and solitude!

From the grand foyer you will notice the high end finishes and upgrades, the open concept , the majestic kitchen, separate living room and a separate dining room.

Maple hardwood flooring with ceramic floors in the kitchen and carpet in the bedrooms. Main floor laundry room.

Upstairs a very large master bedroom with a walk in closed, a large master ensuite with a corner Azzula whirlpool tub and a separate stand up shower,

The other 2 bedrooms are a great size and the the guest bathroom is well laid out. The house is wired on all 3 floors for sound & has central vac.

A finished basement offers a 4 th bedroom or den & and the large 24.2′ x 15.9′ rec room and the 4th bathroom only needs to be finished.

An oversized double car garage and an interlocking stone driveway. Check out the 141 ‘ deep lot, room for a pool if required.

If you cherish quality, a quiet lifestyle and a peaceful setting, why not have a look, this house appeals to those who appreciate serenity!

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Price Your London Ontario Home Correctly

I keep track of houses 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 houses sell for 98%-99% of the asking price or more and are sold within 26 days and others receive 95-96% of the asking price & are on the market an average 83 days or do not sell at all?

No offers yet on your house in London

 When a house is not priced correctly the first day it goes on the market and if the price is too high, this is usually what happens:

  • LOW Final Sales Price – An overpriced house, 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 house, because it would be out of their buying range.
  • Limited Showings – Real estate agents may be reluctant to view your house 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 house will quickly determine that they’ve wasted their time because the appraisal will not support the inflated sales price.

Weeks on Market For a House to Sell

Well kept houses 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! 

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