Home sales in November in London and the St.Thomas
area were up 7.6% overall, with 551 homes exchanging hands. As a comparison, the average number of sales for November in the London Ontario between 2008 and 2012 was 535.
The City of St. Thomas also fared well in November, with 44 sales, up two units from the previous year.
The average price for a home in St. Thomas stands at $199,325 Year-to-Date, up 4% over last year. The average price of a detached home Year- to-Date in the area is $261,060, up 2.6%, while the average price of a condo for the same period stands at $178,431, up 4.1%. The average price of all homes Year-to-Date is $245,964, up 3 %.
The following chart, based on data taken from CREA’s National MLS® Report for October 2013 (the latest information available), demonstrates how homes in the London area continue to maintain their affordability compared to other major Ontario and Canadian centers.
The best-selling house style in November 2013 was the two-storey, followed by the bungalow, then the ranch, then the townhouse condominium.
We invite everyone to visit our open house at 360 WINNIPEG Boulevard on
from 2:00 PM to 4:00 PM.
Property information - Skylights light up the open
concept raised ranch with 11ft plus orange peel ceilings. The property
has 3 bedrooms and two 4-piece bathrooms both upstairs and downstairs.
The basement ceiling is nearly 12ft high and there is private inside
entry to the single garage. It is in a class by itself for this area
being only 7 years new. It is within walking distance to all amenities
such as schools, shopping and parks.
Read This 11-Point Report Before You Sign Anything!
The right or wrong decision when signing your home mortgage can mean thousands of dollars difference in interest paid. There are very important considerations to evaluate before you commit to a 15 or 25 year note. For many of us, our mortgage payment is the most important financial decision we'll ever make. Doesn't it make sense to know as much as possible about the financing of our home? Take the time to thoroughly investigate all of your options!
Unbelievably many of us sign the first mortgage placed in front of us. Typically the excitement of the new home purchase reduces the mortgage to not much more than an afterthought. What you read here could save you hundreds or even thousands of dollars. Your real estate professional has established relationships with the top lenders in your area.
By aligning yourself with a professional real estate agent and a really good mortgage lender you ensure all the financial steps are taken care of properly and economically.
For these 11 points that will really save you money either re-mortgaging or looking to buy a property, these tips are invaluable.
To receive these 11 tips, just give us a call at 519-435-1600 or drop us an email, we'll send off a copy to you real quick, and of course, you are under no obligation what so ever!
What do these words mean? Should I be concerned? Do I really need to know what they all mean? All great questions and over the years I have found that when my clients have a general knowledge of some of the term uses, the buying and selling process is less onerous and intimidating.
Here they are, just click here.
In Heart of the City
• 1 bath, 1 bdrm apartment
- So much for so little....
Downtown London, London
NO SHOWINGS UNTIL NOVEMBER 25TH PLEASE.
Great 1 bedroom apartment on the 18th floor with far reaching views from the balcony. Ideally located in central London just off York Street. This rental property is clean, bright, spacious and well maintained with common areas to include a large lobby, swimming pool, sauna, whirlpool and tennis courts. The apartment is situated in the heart of the city within steps of the Market, Theatre, Budweiser Gardens, restaurants, bars, Victoria Park...you name it, it`s on your doorstep. The property is accessible via elevator and includes all appliances including washer/dryer within the unit. Allocated parking is located in the underground garage. If you`re looking to get settled before the holidays, this place is perfect.
ALL MEASUREMENTS APPROXIMATE AND TO BE VERIFIED BY PURCHASER
Contact Gord Prior, Sales Representative for Envelope Real Estate Brokerage, on (519) 435-1600 to book your appointment and take a virtual tour on our website.
We invite everyone to visit our open house at 360 WINNIPEG Boulevard on
from 2:00 PM to 4:00 PM.
We just sold this house in Summerside in London
The 2 story at 705 North Leaksdale Circle has been sold.
As we sell and show quite a few condos in London Ontario
, I am constantly asked what is the market like, what is selling and at what price ranges.
Below is a report I sent to one of our clients on November 20, 2013:
Condos Under $100,000
There are 33 condos that are still for sale and so far there were 171 sales with the average selling price of $88,971 and these took approximately 49 days to sell.
Condos $100,000 - $150,000
There are 37 available for sale, the average selling price for the 118 that have sold was $121,311 which was 97% of the asking price and these took 46 days to sell on average.
Condos $150,000 - $200,000
There are 55 condos available, from apartment high rise to townhouses, 86 have sold so far this year at an average price of $174,319, 59 days on the market and sold for 98% of the asking price.
Condos $200,000 - $250,000
There has been 32 sales so far at an verage selling price of $216,008 which was 98% of the asking price and at present, there are 122 available for sale in London.
Condos $250,000 - $300,000
12 have sold so far at an average price of $276,742 which was 98% of asking and took 51 days to sell and there are 16 presently available for sale.
Condos Over $300,000
24 condos over $300,000 have sold so far at an average price of $378,976, on the market for 76days, thease got 98% of their asking price and there are 15 available for sale at the time of this writing.
What does All This Mean?
- London Ontario still offers one of the best areas for bang for your dollar
- There is room to negotiate
- There is a good choice of condos from highrises, one floor town homes and townhouses
- If you are going to sell your condo in London, price it right or it will be on the market for 47 days or more
- Team Envelope knows the London Ontario condo market very well
214 Margaret Street in Dutton, needs some work but a still, elbow grease, some paint and a handy person, this is a deal, oh, and it is a 1 bath, 3 bdrm 1 1/2 story. Now
Great family home near everything
• 2 bath, 3 bdrm ranch
- Looking For Value?
Seeing is believing! This property is a great condo alternative! Skylights light up the open concept raised ranch with 11ft plus orange peel ceilings. The property has 3 bedrooms and two 4-piece bathrooms both upstairs and downstairs. The basement ceiling is nearly 12ft high and there is private inside entry to the single garage. It is in a class by itself for this area being only 7 years new. It is within walking distance to all amenities such as schools, shopping and parks.
Of all the things homeowners control when selling their condo, the condition of the property is one of the most important. A crucial part of marketing any product is the presentation of the product.
The same is true for real estate. In order to compete effectively with other sellers, homeowners must present their condos to the marketplace in an attractive, desirable condition. When you bought your condo, you probably comparison-shopped. Well, buyers still do that today. According to The National Association of Realtors, the average purchaser looks at 10 to 20 properties prior to purchasing a home.
THINK LIKE A BUYER!
You are not just selling a piece of real estate. You are selling shelter, a lifestyle and dreams. Buyers arriving at your front door want to find the right home so does not make them search somewhere else. If you do your homework, every room in your home will create a reason for the buyer to stay. I have sold homes and condos in London Ontario that were not in the best neighbourhoods or were neglected over the years. With a little bit of elbow grease and a few dollars, those houses or condos sold close to asking price and within 30 days!
You have heard of CURB APPEAL, I'm sure. Do you know that many home sellers today and their listing agent apparently have not heard? You've got less than 10 seconds to make a great first impression and when it can mean thousands of dollars in your pocket, why not do something about it? By working with a great REALTOR* with the strength and courage to tell you the truth, by making a few cosmetic changes, the sale of your condo will be a slam dunk!
PS: Oh by the way, I also have shown homes in great neighbourhoods in the $400-$600,000 range that had poor curb appeal, were in dire need of cosmetics etc. The home seller was stymied why their home had not sold or even received a decent offer! Do you not think that after 60-90 days, price and condition have something to do with it?
REMEMBER: As a seller, you control the price and product, your REALTOR* controls the promotion
Most real estate investors miss the boat because by the time they have confirmed all the facts or ‘run their numbers’ (usually erroneously) or gathered solid information, the market is gone or the property is sold.
I see this daily, the fence sitters, the ‘time is not right’ folks or in 75% of the cases, their analysis of the property and income is faulty, that their illusion of cash flow, appreciation and risk tolerance is to blame!
A good real estate professional relies on what he hears, a great real estate professional assimilates all the available facts, sifts out the chaff, and makes the go/no go decision on his/her ability to adhere to what I call the brutal truth.
Great investors never buy what the market is doing, they don’t care. It can be up, it can be down, the motivation of the investor, be it the buyer or seller, takes two to tango!
You buy on expectation and sell on results! Period.
As J.P. Getty said “Investors bank on climate, while speculators bet on the weather.” In other words, the real estate market works more like a barometer than a thermometer.
Getting good and accurate information and then being able to act decisively on the incomplete information is what really separates the wannabees and the wealthy.
Overall sales in The London & St. Thomas Association of Realtors (LSTAR) were up 3.2% in October, with a total of 644 homes exchanging hands . Detached homes were up 3.6%, while condos were up 1.6%. Over all in the area, year to date sales are down by 2.6% over 2012.
The City of St. Thomas's market saw a dip in sales in October. 48 homes sold in that City, down 11 sales. Year-to-Date, however, sales are up 7.6%. The average price for a home in St. Thomas Year to Date stands at $190,764, up 3.4%.
The average price of a detached home Year to Date in LSTAR's jurisdiction is $261,380, up 2.7%, while the average price of a condo for the same period stands at $178,786, up 4.3%. The average price of all homes Year to Date in LSTAR's jurisdiction is $246,221, up 3.1%.
The following chart, based on data taken from the Canadian Real Estate Association’s National MLS® Report for September 2013 (the latest information available), demonstrates how homes in LSTAR's jurisdiction continue to maintain their affordability compared to other major Ontario and Canadian centers.
The best-selling house style in LSTAR's jurisdiction in October 2013 was the two-storey, followed by the bungalow, then the ranch, then the townhouse condominium.
Quality Home in a Great Location
• 3 bath, 4 bdrm 4-level split
- Excellent Value
Hyde Park, London
Have you been looking for just that right home? The right layout? The correct quality and feel? A large back yard? Open the front door and be immediately blown away by the inviting 12 foot ceilings & open-concept, gleaming-hardwood main floor. This is a rare & unique layout & design in this sought after area of North West London.
Hardwood on upper floor including bedrooms. The kitchen is open concept with stainless appliances, a very modern practical ceramic design & ultra clean reverse-osmosis filtered drinking water. Retreat to the lower professionally finished family room with gas fireplace and separate office space or 4th bedroom and a convenient 3rd bathroom. The 4th basement level is high and dry with insulation and TONS OF SPACE for storage or further development.
IF BUILT TODAY IT WOULD COST THOUSANDS MORE!
Located in a very sought after neighbourhood , close to some great schools, amazing shopping near Big Box Stores, yet easy access to down town London.
Completely Re Done
• 1 bath, 2 bdrm single story
- Looking For Value?
Pond Mills, London
This unit has been conpletely redone with a new bathroom such as tub, shower, vanity & a ceramic floor, new kitchen cabinets w/counter top and pluming, new ceramic floor in kitchen, all new raised panel doors and freshly painted.
Ground floor 2 bedroom unit with parking right out front. 6 appliances whch includes in unit laundry.
Large bedroom closets with new shelving, new baseboard through out and many more upgrades. Just move in and bring your toothbrush, nothing else to do!
This unit will be getting new windows within the next 12 months, so with a cozy gas fireplace, you will be nice and warm. Ideal for a pensioner or single person who wants comfort and none or little maintenance. Loads of storage.
Close to shopping, on bus routes and easy access to Highway 401 via Veterans Memorial Parkway.