How To Prevent Overpaying For a London Ontario House

Overpaying for real estate in London Ontario over the past few months is occurring more often than not and I have heard the following statements from buyers and Realtors.

happy buyers

 

  • “There is nothing I can do about it”.
  • “That’s just the way the real estate market is right now.”
  • “There is nothing else out there”

Really?

Learned helplessness is a condition in which a buyer adapts to the scarcity mindset, the fear of loss and instant gratification and overpays for a house in London Ontario and feel that there is nothing they can do about it and that the acceptance of their offer is totally out of their control.

Yes, the real estate market in London Ontario is vibrant and as a Realtor, that is quite positive yet the consequences of overzealous buyers and their representatives actions will have a negative effect , as history has proven over and over that the axiom “What goes up must come down”, holds true.

As a home buyer in London Ontario, you have choices and there are strategies you can take to ensure you do not over pay and get caught up in the frenzy.

 You cannot ever overpay with the research and the facts we provide to our clients!

Finding a Home To Buy In London Ontario Should Not Be a Puzzle

  Finding a Home in London Ontario Should Not Be A Puzzle!

If I brought you in a room and in a pile on a table in that room was a 1200 piece jigsaw puzzle with no picture of the completed puzzle on the box and then asked you to put it together, where would you start?

Thinking about buying a house in Uplands

I am sure eventually you would be able to put it together over lots of time and lots of trial and error and some frustration! But why go through the hassle if all you needed was the picture?

Well, buying a house or condo in London Ontario is no different!

If you had a picture in your mind of exactly what you wanted and needed in a house, do you not think that the buying process would be easier and in the long run, save you money?

Here is a scenario that is frequently a request that we receive:

   “We are looking for a house in __________________________ 3-4 bedrooms, 2 bathrooms, garage and between $____, 000 and $___, 000.”

  “We would like a master ensuite, fenced back yard etc.”

      A puzzle to Buy a Home                          

                                  

Yes, you may have decided on a one floor home versus a two story, maybe even a neighbourhood or close to a particular school or your work.

Over the years what our clients have really appreciated is what we call a market education.

We sit down with our clients and take the time to narrow down your must have’s, your lifestyle preferences, your budget, your comfort zone and after that we are getting close to having a picture of your needs.

We then go look at 4-5 homes with the intent of not buying any of them! We are solely getting a clearer picture of what you would really like and can afford in a home. After this 2-3 hour tour and analysis, we have found that  90% of the time, our buyers have a clear picture and now can act on the home that matches their picture!

Our clients know comparative prices; know the right neighbourhood, the right style of home and the necessary amenities that match their lifestyle.

I will agree that this process may not be for everyone but over the years it sure works for our clients and their level of satisfaction is very pleasing to us and a barometer of our values and work ethic!

In 90% of cases, a real estate sales person’s role is not to be a home finder. That was what real estate people did in the 80’s & 90’s, consumers  did not have access to  the vast amount of information that is available today.

Home Buyers in London

A good real estate person’s advantage and skill is to be an interpreter of data, a consultant, an advisor, a professional negotiator who ensures that not only is the price right, but the terms and conditions of a complex transaction are well managed from start to finish.

Eliminate Fear When Buying a London Ontario House

Most house buyers have many fears when getting ready to buy a home, whether it is the first time buyer or a couple who have bought and sold 5 homes in their lifetime.

fear of buying a home

Most of those fears are normal and that is a good thing. However:

F false

 E evidence

 A appearing 

 R real

I have worked with hundreds of home buyers over the years and I have found that most of their fears were of the unknown or worst of all, here say by family, friends and co-workers. My role as a professional Realtor is to address those fears, acknowledge them and then overcome those fears with factual information, not my perceptions but the real world of real estate reality.

The fear of buying the wrong house, over-paying for it, defects, financing and location can in 99% of the time, can be overcome with due diligence.

The fear of being happy in that home, entertaining and appreciating in value is internal and way above my paygrade to offer advice!

In the end, common sense, being practical and keeping your emotions in check will be your best friends.

Downsizing to London Ontario? What Next?

  “We’re thinking about downsizing to a smaller home in London Ontario. Having been out of the real estate market for many years, how do we find the right place and someone to walk us through the steps?”

Finding A Great Realtor in London Ontario

When it comes to buying or selling a home in London Ontario, one of the first steps many people take is choosing a real estate professional to work with. Much like you’ll be searching for a home to meet your needs, you’ll want to take a few steps to choose the real estate professional who is right for you.

Regardless of how you find the real estate professional, it’s always a good idea to meet with at least a few different representatives before selecting the one you’d like to work with. When you have your short list and are ready to meet with a few candidates, consider asking these questions:

1. What is your experience? Experience is about more than how many years someone has been in business. Take the time to learn about the types of properties they typically work with, which neighbourhoods they work in and how many homes in the type you are looking for they helped buy or sell in the past year or two.

2. What is your approach to the buying or selling process?For the buying side of things, how will the representative search for suitable properties and what is their approach to negotiations? When selling, how will your home be marketed to help attract the right prospective buyers? By understanding their approach, you’ll know what to expect and will be able to determine which representative’s philosophy and methods align with your preferences.

3. What services will be included? Discuss your particular needs and expectations with prospective representatives to ensure they are able to provide the services you want. For example, when selling, will the representative have professional photos taken of your home or prepare multimedia promotional materials? How will they promote and market your home? Understanding exactly what services will be provided, and later documenting them in your written contract, will help avoid misunderstandings later on.

4. What are the commissions or fees that I will need to pay? Commissions and fees can vary between brokerages and the services provided, so be sure to understand what will be provided and what it will cost. Keep in mind that, as with most things, you pay for what you get.

5. Do you have references? As with most job interviews, getting in touch with references is an important step before hiring someone. Speaking with past clients is a great way to learn more. Were past clients pleased with their experience? Was the representative responsive and easy to get in touch with? Would they recommend them to others?

Buying and selling a home is a major decision, so it’s key to take the time to find the right representative for you. Whether it’s homes within a certain price range, in a specific neighbourhood, income properties or condos, it’s smart to find a representative experienced in buying and selling your kind of place.

 Ask these 11 Questions Before You Hire Any Realtor

Do Not Overpay When Buying a Home in London Ontario

Overpaying when buying a home in London Ontario over the past few months is occurring more often than not and I have heard the following statements from buyers and Realtors.

happy buyers

 

  • “There is nothing I can do about it”.
  • “That’s just the way the real estate market is right now.”

Really?

Learned helplessness is a condition in which a buyer adapts to the scarcity mindset, the fear of loss and instant gratification and overpays for a house in London Ontario and feel that there is nothing they can do about it and that the acceptance of their offer is totally out of their control.

Yes, the real estate market in London Ontario is vibrant and as a Realtor, that is quite positive yet the consequences of overzealous buyers and their representatives actions will have a negative effect , as history has proven over and over that the axiom “What goes up must come down”, holds true.

As a home buyer in London Ontario, you have choices and there are strategies you can take to ensure you do not over pay and get caught up in the frenzy.

If you never ever want to overpay for real estate, I will not let you!

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,

 OR

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.

Why? 

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

 

Moving Up or Downsizing in London Ontario?

  “We’re thinking about downsizing to a smaller home. Having been out of the real estate market for many years, how do we find a representative to help us buy and sell?”

Senior couple in front of home.

When it comes to buying or selling a home in London Ontario, one of the first steps many people take is choosing a real estate professional to work with. Much like you’ll be searching for a home to meet your needs, you’ll want to take a few steps to choose the real estate professional who is right for you.

Regardless of how you find the real estate professional, it’s always a good idea to meet with at least a few different representatives before selecting the one you’d like to work with. When you have your short list and are ready to meet with a few candidates, consider asking these questions:

1. What is your experience? Experience is about more than how many years someone has been in business. Take the time to learn about the types of properties they typically work with, which neighbourhoods they work in and how many homes in the type you are looking for they helped buy or sell in the past year or two.

2. What is your approach to the buying or selling process?For the buying side of things, how will the representative search for suitable properties and what is their approach to negotiations? When selling, how will your home be marketed to help attract the right prospective buyers? By understanding their approach, you’ll know what to expect and will be able to determine which representative’s philosophy and methods align with your preferences.

3. What services will be included? Discuss your particular needs and expectations with prospective representatives to ensure they are able to provide the services you want. For example, when selling, will the representative have professional photos taken of your home or prepare multimedia promotional materials? How will they promote and market your home? Understanding exactly what services will be provided, and later documenting them in your written contract, will help avoid misunderstandings later on.

4. What are the commissions or fees that I will need to pay? Commissions and fees can vary between brokerages and the services provided, so be sure to understand what will be provided and what it will cost. Keep in mind that, as with most things, the cheapest deal is not necessarily the best one.

5. Do you have references? As with most job interviews, getting in touch with references is an important step before hiring someone. Speaking with past clients is a great way to learn more. Were past clients pleased with their experience? Was the representative responsive and easy to get in touch with? Would they recommend them to others?

Buying and selling a home is a major decision, so it’s key to take the time to find the right representative for you. Whether it’s homes within a certain price range, in a specific neighbourhood, income properties or condos, it’s smart to find a representative experienced in buying and selling your kind of place.

 Ask these 11 Questions Before You Hire Any Realtor

Frustrated Buying London Ontario Properties?

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.

Why? 

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 me!

Ty Lacroix

 

Why Overpay For London Ontario Real Estate?

Over the past 3 months, we have seen a sellers’ market in London Ontario, which is great for those selling their house or condo in London Ontario and in some cases, not great for buyers.

Overpaying for a London Ontario Home

Jim Rohn wrote: “The pain of discipline weighs ounces, the pain of regret weighs tons!”

With some homes receiving 7-15 offers that have no conditions and some homes selling 12-18% over the asking price, is the ‘winning’ offer prudent?

I have been in several of those offer situations, have won some and some say ‘lost some’, but my clients can’t lose something they never had. My client and I do a threshold price and stick to it, we try to keep the emotion out of it and avoid one of the biggest motivators in the world, “fear of loss”.

A threshold price is one where you can be confident that you are offering a fair price and confident that in the future, if the market does take a down turn, your financial world will not be turned upside down.

Speculation is dreaming and though we read about the money 5% of speculators make, we very seldom here about the other 95% of speculators who lose. It may not be in the short term, but long term, history has a habit of repeating itself.

I have taken the liberty of rearranging one of Warren Buffet’s beliefs and changing the word stock to property: “It is far better to buy a wonderful property at a fair price than a fair property at a wonderful price.”