Is There an Over Supply of Condos in London Ontario? - 01/24/12 07:29 PM
  “Where is the condo market headed, in Canada & specifically London Ontario?” I was asked this question today by a client who wants to sell her condo in Toronto and move to London Ontario. Below is part of what I emailed to her.
The oversupply of condominiums in Canada is becoming a concern as two-thirds of all housing starts are condos and the supply of completed but unoccupied condominiums is high.
Vancouver & Toronto lead the way in new construction and as an example; Toronto has 132 high-rise buildings under construction compared to 17 in Chicago or 86 in New … (1 comments)

Is London Ontario Facing a Real Estate Bubble? - 01/24/12 09:15 AM
Will the housing market crash in London Ontario? Is there a real estate bubble in London Ontario?  For the last few months, economists, the heads of three of Canada’s major banks (BMO, CIBC & RBC) agreed that the market is reaching its peak and though they do not foresee a crash, they feel that prices are likely to decrease this year and perhaps decrease for 2-3 years. (Some predict 25% across Canada)
Some are even predicting gloomier thoughts, such as a real estate bubble ready to burst. That may be so for cities like Toronto, Montreal, Calgary or Vancouver where new … (1 comments)

Healthy Homes Renovation Tax Credit For Seniors in Ontario - 01/18/12 11:57 AM
The proposed Healthy Homes Renovation Tax Credit in the Province of Ontario would be a new permanent, refundable Personal Income Tax credit to assist with the cost of permanent home modifications that improve accessibility or help a senior be more functional or mobile at home.
The credit would be worth up to $1,500 each year, calculated as 15 per cent of up to $10,000 in eligible home renovation expenses that would help seniors stay safely in their homes. It could be claimed by senior homeowners and tenants, and people who share a home with a senior relative.
Some examples of eligible expenses would … (5 comments)

Unique Snowplowing Service For Seniors - 01/18/12 11:31 AM
As with all municipalities in Canada and the US, officials are finding innovative ways to save taxpayers money! As well, with obesity levels rising across North America, a group of top level economists, legislators, gurus and academics have come up with a way to combat both.
As a picture is worth a thousand words, here is what they have come up with.
… (5 comments)

Komoka Ontario Real Estate Remains Stable - 01/17/12 02:26 PM
 In 2011, 31 homes changed hands in Komoka with the average asking price of $347, 491 which actually sold for 97% of asking which was $338,543 and these were on the market for 48 days.
   Komokais less than 15 minutes west of London with easy access to Highways 402 and 401. Komoka is between Mt.Brydges and Kilworth and from London, head west on Oxford Street.
Komoka is a crossing point for many railway lines and was formerly a railway hot spot featuring various hotels and development. Today, the Komoka Railway museum keeps the local railway history alive and features unique … (0 comments)

Interest Free Loan for Downpayment of a Home in London Ontario - 01/16/12 02:54 PM
City of London renews commitment to make homeownership easier
The City of London has announced the renewal of a program offering affordable homeownership. This very successful program, previously known as the Affordable Homeownership Program has been renamed Investment in Affordable Housing Homeownership Program and has been improved to offer more Londoners the opportunity to own their own home.
The program consists of an interest free loan for qualifying home buyers to assist with down payment and closing costs.
To be eligible, households must have a gross household income of $55,000 or less, and must qualify for and be pre-approved for a mortgage at … (2 comments)

A Downsizing Boomer May Be In For a Surprise - 01/13/12 04:40 PM
Valerie Zinger, a real estate representative in Ottawa wrote this blog that I thought I would pass along. Last year alone I had 9 clients decide to stay in their existing home or extensively upgrade the home instead of downsizing.
They too had "bumper shock" or should I say "door shock" when they saw what their 'dream' home would cost and what their existing home was worth.
Ty
Via Valerie Zinger (House Proud Ottawa-Ontario-Canada):
This is a story that is being repeated all over the country.  Boomers want to downsize.  This is hardly a surprise.   The surprise or even shock … (5 comments)

Kilworth Home Sales Strong - 01/13/12 03:30 PM

    31 Houses in Kilworth, a short drive from London  sold in 2011. On average these were on the market for 43 days and they sold for on average of $397,810 which was 97% of the asking price of $409,533.
Currently there are 7 homes for sale in Kilworth with an average asking price of $411,736. As you can see, Kilworth remains a neighbourhood in demand because of its beauty, quaint small community charm and of course, nature.
 

Kilworth is a quiet enclave of new and mature homes nestled in a village 8 km west of London. It meanders along the … (0 comments)

Lambeth Homes in London Ontario Sold Well - 01/12/12 03:57 PM
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Are You Cut Out For The Real Estate Business? - 01/10/12 02:15 PM
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Tenant Turnover & Vacancies - 01/06/12 10:42 AM
  Tenant Turnover & Vacancies
This week I was asked by an out of town investor with 11 units if I could assist her in understanding why on paper she should be doing better financially , but in fact, her income was way down because of tenant turnover, vacancies and questionable property manager fees. (I was not her real estate agent when she purchased the income properties).
Her buildings are in a decent part of London, have had major upgrades and her rents are a little below average. In a nutshell, here is what I discovered:
·         The property manager not … (7 comments)

Masonville & Stoneybrook in London Real Estate Was Hot in 2011 - 01/05/12 12:33 PM
011 proved to be a very busy real estate market in Masonville and Stoneybrook neighbourhoods in North London. With close proximity to The University of Western Ontario (UWO), The Research Park, teaching hospitals and of course, Masonville Mall, this area is a sought after neighbourhood to live and play!
107 houses sold with an average sold price of $408,986 which was 97% of the asking price of $421,583.
98 condos in the Masonville, Stoneybrook area sold at an average of $215,706 which was 98% of the asking price of $219,887!
 Condos were on the market for less than 39 days and houses … (0 comments)

Home Prices in Pond Mills in London Ontario Are Lowest Around - 01/05/12 11:10 AM
Pond Mills in South East London Ontario remains one of the best values in home prices with 61 houses selling in 2011 for an average price of $202,600 and it has taken about 36 days for a home to sell.
   For condos in Pond Mills, $123,023 was the average asking price, 49  sold in 2011 and these were on the market an average 48 days!
  Pond Mills has a lot going for it and not just lower house prices. Very easy access to the 401 highway, great schools, shopping and public transportation.
  Real estate is affordable in London and with … (0 comments)

Hazelden Area Homes in London in Demand - 01/05/12 10:44 AM
47 homes changed hands in 2011 in  the Hazelden neighbourhood in West London with the average asking price of $425,201 and actually geting $403,940 which was 95% of the asking price and these sold homes were on the market an average 36 days!I
In this same period, 12 condos sold with an average asking price of $293,578, these sold for 97% of asking and were on the market an average 42 days.
As you can see by these numbers, Hazelden is a sought after neighbourhood in London Ontario, homes sell quickly and above the London and area average.
For further information … (0 comments)

London Ontario Real Estate Market Stable in 2011 - 01/04/12 04:09 PM
 London Real Estate Market Stable in 2011
  2011 proved a solid year for real estate sales in the London and St.Thomas area with 8,048 homes exchanging hands over its twelve-month course -- just 1% down from the previous year.
   “It was a little slow coming out of the gate, but in the end we finished strong, despite concern over the extent to which global economic worries would impact us locally,” says the LSTAR President for 2011.
   “December delivered a strong performance as well, with 384 sales, just 0.8% down from the previous December. “We are … (3 comments)

Old South, Wortley Village Real Estate Activity Remain Strong - 01/04/12 11:19 AM
211 houses exchanged hands in Old South London & Wortley Village in 2011 with an average selling price
   of $266,222 and on average it took 38 days for a home to sell and these homes sold for 98% of the asking price!  3 condos sold in this neighbourhood as well.
Old South London remains a desirable neighbourhood with its own distinct mix of art, dining, culture and house styles. A lot of home owners have done some great renos and with deep lots, offer privacy that new neighbourhoods do not.
More and more home buyers are shying away from cookie cutter … (0 comments)

Summerside Homes in London Ontario Real Estate Facts - 01/04/12 10:56 AM

  There were 90 homes that sold in the Summerside neigbourhood in South east London in 2011.
    72 houses sold at an average price of $258,350 and 18 condos at an average $210,211. On average it took 63 days for a home to sell , 42 days for condos and homes sold for 98% of asking price which shows the London Real Estate market is stable, especially this newer community .
This neighbourhood in south London is growing with  new retail planned, new parks and access roads.
Summerside is proving to be a well priced neighbourhood in London Ontario and the growth is … (0 comments)

Riverbend Neighbourhood in London Homes Are Still Selling Well - 01/03/12 11:20 AM
In 2011, 50 houses changed hands in the Riverbend area south of London with an average selling price of $458,654 and 10 condos sold, averaging $397,456.
   The average days on market was 64 days for houses & 42 days for condos and these homes sold for 96% of asking price. Again, this neighbourhood is proving to be sought after in London because of all the nearby amenities such as golf, nature trails and convenient shopping.
  If you are thinking of moving to this upscale neighbourhood, you have many options open to you, depending on your life style!
I know … (0 comments)

Sunningdale Houses & Condos in London 2011 Report - 01/02/12 01:07 PM
 Homes in Sunningdale, a trendy neighbourhood in North West London with easy and quick access to UWO & Masonville sold quite well in 2011.
49 houses sold at an average price of $536,417 and on average, these homes took 48 days to sell & sold for 97% of asking price.
24 condos sold at an average selling price of $321,823 which was 98% of the $328,029 asking price and only on the market for 40 days!
  Sunningdale remains a sought after neighbourhood because of its location, schools and shopping.
   Houses start in Sunningdale from $325,000 and up. To get a jump … (0 comments)

Oakridge House & Condo Update in London Ontario for 2011 - 01/02/12 12:48 PM
 263 houses sold in this great family Oakridge neighbourhood of London Ontario in 2011 with the average selling price being  $301,882 and on average these houses were on the market for 46 days & sold for 98% of the asking price!
  88 condos had changed hands, taking 45 days to sell at an average price of $207,835.
  With both houses and condos selling for 98-99% of asking price proves that the London Real Estate Market is stable and real estate prices remain one of the lowest in Ontario.
  Oakridge is still sought after because of its location to … (0 comments)

 

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