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Houses in Sunningdale, a neighbourhood in North London and close to UWO & Masonville , were sought after with 33 sales since January and with 15 condos selling as well. The average sale price for a home in Sunningdale which took 28 days to sell was $531,009 which was 97% of the asking price of $545,147 and for condos in Sunningdale, the average sale price was $274,643 which was 98% of the asking price of $279,685 and were on the market an average of 40 days. At present there are 10 resale houses for sale in Sunningdale starting as low as $429,900 to over 1.5 million. As well, there are 7 brand new homes in the finishing stages available. There are 5 condos available, 1 for lease and 2 for sale, starting from $229,900. When you require information about Sunningdale, be it the amenities, the schools, the golf courses or even real estate you now know who to call. Let me prove to you that I put the real into real estate in London!
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Houses in Lambeth, a neighbourhood in South West London have received a lot of activity in the period from January 1, 2010 to September 1, 2010. Present listings vary from as low as $194,000 up to $569,000 which really explains the diversity of Lambeth and basically two neighbourhoods, one in 'downtown Lambeth' and the other what I call the Outer Drive neighbourhood. 84 houses in Lambeth sold with the average being on the market for 43 days and selling for $373,416 which was 98% of the asking price. If you would like a synopsis of a particular neighbourhood or street in Lambeth or London I can put that information together for you to show you that facts and preparedness do wonders when thinking about buying or selling real estate.
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Re-sale houses and condos have remained strong in so far this year and at September 1 , 197 houses sold with the average selling price being 99% of asking which was $252,044 and an average of 38 days on the market! For condos, 54 sold at an average $169,498 and were on the market for 54 days. With some great shopping, new schools being built, commercial and light industrial spaces available, people are finding Hyde Park to be quite attractive.
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Masonville area homes and condos along with the Stoneybrook & Uplands neighbourhood sales have been quite active with 98 sales at 97% of the asking price of $411,449and only 30 days on the market! There were 92 condos in Masonville, North London that sold at an average price of $243, 946which was 98% of the asking price. These condos were on the market on average for less than 34 days. This area remains one of the hottest markets in London and especially at this time of the year with UWO grads going and new coming to London. Condos from $119,000 to $369,000 and with houses from $279,000 and up make Masonville & Stoneybrook a good market because of amenities and location.
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Houses in Old South and Wortley Village neighbourhood that are listed for sale are selling briskly! 150 have sold from January 2010 to Sept 1, 2010 and on average homes were on the market for 24 days and averaging 99% of asking price which was $250,098! At present there are 42 resale houses in Old South/Wortley Village listed for sale from as low as $181,000 up to $800,000 +. Because of the ambience and ecletic range of homes you can see why this is a sought after London Ontario neighbourhood!
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If you are like me, when I want to call someone at London City Hall or the London Library or garbage pick up date, I scramble to find the phone number, or wait to turn on the computer and get the number. Below is a list that I felt you may want to know: Civic Contacts Community Information 
Animal Control 519-685-1330 Building Permits 519-661-4555 London Chamber of Commerce 519-432-7551 Crime Stoppers 519-661-8477 London Fire Department 519-661-4565 Garbage 519-661-5485 Library 519-661-5187 London Economic Development Corp. 519-661-4545 Mayor's Office 519-661-4920 Parking 519-661-4537 Parks & Recreation 519-661-5575 London Police 519-661-5670 Real Estate 519-435-1600 (I slipped that in, that's mine!) Recycling 519-661-5803 Taxes 519-661-4540 Transit Services 519-451-1347
Hospitals Children's Hospital of Western Ontario 519-685-8484 London Health Sciences Centre 519-685-8500 Parkwood Hospital 519-685-4000 Regional Mental Health Care 519-455-5110 St. Joseph's Health Care London 519-646-6100
Utilities Bell Canada 310-2355 London Hydro (water) 519-661-5503 Roger's Cable 519-646-3311 Union Energy (water heater) 519-686-7554 Union Gas 888-774-3111 So there you go, those numbers work! Now, I didn't add some of our great restaurants, watering holes, golf course, pilates class or mud wrestling, I thought I'd leave the adventure up to you.
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A survey of potential first-time homebuyers found that 29 per cent between the ages of 21 and 34 are living with their parents while saving for their home down payment.  While it is no surprise that those under the age of 30 are staying home longer, whether to attend school or save for a home purchase, what is surprising is the number of adults in the 31 to 34 years old category who are also still at home! The survey found a considerable gap between potential first-time buyers' expectations and their realities when it came to planning and saving to buy a home. "We found that, although most young people would like to purchase a home within the next few years, most do not have a practical plan to get there." According to the survey, adults between the ages 21 and 34, on average, have been saving for their down payment for only 1.6 years, yet expect to take only a total of 3.8 years to save enough to commit to a purchase. The average reported savings rate (as a percentage of pre-tax income) of those who live at home with their parents, 16.6 per cent. Those who are currently renting, 11.0 per cent. What amazes me is that both the U.S, and Canadian government have reduced or suspended first time buyer incentives or incentives with savings regarding down payments. Mother Nature had it right in the bird kingdom, when you can fly, bye bye. With humans, she must have had a bad night!
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Daily I am bombarded with questions from agents and clients and it is always great to help with a solution or answer. There are times, however, when I have to shrug and say "I don't know". Why do we press harder on a remote control when we know the batteries are getting dead? Why doesn't Tarzan have a beard? Why do people keep running over a string a dozen times with their vacuum cleaner, then reach down, pick it up, examine it, then put it down to give the vacuum one more chance?  Why is it that no plastic bag will open from the end on your first try? Why do they use sterilized needles for death by lethal injection? So that's it for this week and if you have a question that requires an answer and I don't know, I'll do my best to get you one and if I can't , I'll blog about it!
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I was helping an agent in my office today with her frustrations in dealing with a couple who were getting advice from a multitude of sources. In the end, her transaction fell through and the young buyers are so confused, discouraged and scared that they will put off purchasing soon. To disguise this couple and my agent here are some comments I have heard from both buyers and sellers: - Always go in with your first offer at least 25% less than asking. ( When asked, this father last purchased a home in 1974 and "That's what everyone does!".
- We want some wiggle room in our price of our house, so lets increase the price by $20,000 so we can negotiate. No one offers a real price the first time. (When asked, this defense lawyer who does not practice real estate law says that everyone does! Hmmmm, really, so the consumer with all the knowledge available are stupid and blind, I ask? )
- Don't be stupid, only deal with the listing agent, he or she will not have to pay extra commission because no other agent is involved! (After further questioning and probing, this cousin bought an overpriced house in not the best neighbourhood)
There are many more of these but it is frightening to what buyers and sellers hear.  If I was going to get my car fixed, I would go to a mechanic, not a jeweler. If I want my shoes repaired, I'll go to a shoe repairer, not a tailor. Know where your advice is coming from. Trust a REALTOR® for real estate advice. If you are not sure, ask another REALTOR®. You will be happy you did!
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Yesterday I was playing golf with a broker of record and owner of one of the largest real estate companies in London and we were discussing why some agents make it and some don't. Some who you would think can be really successful aren't and some who you think don't have a chance succeed. Why is that? I don't think it is salesmanship, the best website, the brokerage you are with, how much money you can spend or any other reason you can think of. In a nutshell, those who do not succeed fail because they do not ask for business. Oh sure, their first month they mail a letter to their sphere of influence,call or email them and usually say that I am now in real estate and if you know of anyone who is thinking of buying or selling their home, let me know. If you are lucky that may happen, your parents or best friend may refer you, but then what? You blow your brains out by following what all the coaching gurus suggest you do. Then what? You go out and ask for business! Everyone you meet regardless where you are. You ask: "Are you thinking of selling your home?" They say "How much" You say " I don't know, I haven't seen your home yet" Sound like a salesperson? You are one. Do you perceive yourself as being pushy, obtrusive, obnoxious or unprofessional if you just plain go out and ask people? If so, you may want to change professions or be a starving agent. About 5 months ago I was teaching this to one of my agents and she said she could never do that. I said try it for 7 days and let me know the results. She got 3 listings and 1 buyer! All 3 listings sold and her production year to date is outstanding! Now you may not get results like she did(I should add she was hungry, motivated and determined) but you will get results. Survive or starve, your choice!
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Masonville area homes and condos along with the Stoneybrook & Uplands neighbourhood sales have been quite active with 97 sales at 97% of the asking price of $411,449and only 30 days on the market! There were 89 condos in Masonville, North London that sold at an average price of $243, 946which was 98% of the asking price. These condos were on the market on average for less than 33 days. This area remains one of the hottest markets in London and especially at this time of the year with UWO grads going and new coming to London. Condos from $119,000 to $369,000 and with houses from $279,000 and up make Masonville & Stoneybrook a good market because of amenities and location. If you require more information on specific styles or price range in London,  I know the area and price ranges.
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Houses in Oakridge, Oakridge Acres, Oakridge Meadows & Oakridge Park have sold quite well so far this year with 151 selling on average for $296,486 which was 99% of the asking price and on average a house was on the market for 33 days .  63 condos have sold in the Oakridge Neighbourhood at an average selling price of $201,557 and these condos were on the market an average 60 days and sold for 99% of the asking price. Most homes in Oakridge have large lots, tree lined wide streets so if you are looking for large backyards and space, Oakridge may be for you. A little bit of energy, money and smart renos can make Oakridge an inexpensive neighbourhood to live in. Don't forget about having one of the highest ratings for schools, neighbourhood activities and easy access to any place in London. For more information on Oakridge in London Ontario, be it real estate or why the sky is blue, I can get an answer for you.
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Where you live in Canada can make a difference in what you pay the tax man or in some provinces , tax woman. - If you make $70,000 in income, British Columbia may be the place because you would pay a combined federal and provincial tax of $15,000, Ontario at $15,492 and Alberta with $16,292
- If you make over $150,000 a year, Alberta is the place
- Ontario has generous tax incentives
- Alberta has the lowest general corporate tax rate with a combined provincial and federal tax rate of 28%.
If you are having trouble going to sleep,  you can read the full report prepared by PricewaterhouseCoopers' annual Tax Fact and Figures guide. Go to http://www.pwc.com/ca,taxfacts
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How much would itcost to replace this home? I have two clients who went out new home shopping and after trying to compare apples with apples and visiting new home builders in the area, one came up with $339,000 and the other felt it was closer to $337,250. The owners have asked me to offer you a $5,000 bonus or price reduction on this beautiful home in North west London or you may have a custom built fence and deck built on this 100+' back yard. This 2 storey home at 1376 Coronation Drive in London Ontario has loads of updates, a double garage, finished basement, 3 1/2 baths and a great open kitchen. Go to the virtual tour at: How much would itcost to replace this home? I have two clients who went out new home shopping and after trying to compare apples with apples and visiting new home builders in the area, one came up with $339,000 and the other felt it was closer to $337,250. The owners have asked me to offer you a $5,000 bonus or price reduction on this beautiful home in North west London or you may have a custom built fence and deck built on this 100+' back yard. This 2 storey home at 1376 Coronation Drive in London Ontario has loads of updates, a double garage, finished basement, 3 1/2 baths and a great open kitchen. To view the Virtual Tour go to : How much would itcost to replace this home? I have two clients who went out new home shopping and after trying to compare apples with apples and visiting new home builders in the area, one came up with $339,000 and the other felt it was closer to $337,250. The owners have asked me to offer you a $5,000 bonus or price reduction on this beautiful home in North west London or you may have a custom built fence and deck built on this 100+' back yard. This 2 storey home at 1376 Coronation Drive in London Ontario has loads of updates, a double garage, finished basement, 3 1/2 baths and a great open kitchen. See the Virtual Tour on our website.
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I was asked the other day to work out the difference between buying versus renting. This one bedroom condo at 2230 Trafalgar Unit 121 in London is priced at $86,000. With Fanshawe College near by, The London Airport, Highway 401 easy access to Woodstock and Ingersoll, this neighbourhood would be great for a couple or single person who would like to save money and live economically. To go to the virtual tour: http://www.enveloperealestate.com/Listing/VirtualTour.ashx?listingid=17987157 Here are the numbers: | Income Needed to Qualify for the Mortgage | | | | Total Monthly Loan Payment: | $704.92 | | | Total Monthly Debt Payment: | $904.92 | | | Monthly Loan Insurance (2.75%): | $12.96 | | | Qualifying Income of 28% GDS Ratio: | $30,765.94 | | | Qualifying Income of 36% TDS Ratio: | $30,595.73 | | | |
-->| Monthly Rent: | $
RequiredMust be a positive number | | No. of Years you plan on keeping the home: | RequiredInvalid | | Annual Rental Increases: | % RequiredInvalid | | Yearly Appreciation on the Home: | % RequiredInvalid | | Monthly Renter Insurance: | $ RequiredInvalid | | Annual Home Maintenance: | % RequiredInvalid | | Savings or Investment Rate: | % RequiredInvalid | |
| Your Results | Your customized rent versus own analysis is based upon:
An initial monthly rental payment of $750.00. We assume that your rent will increase by 2.5% per year.
You are considering buying a home valued at $86,000.00, with a down payment of 5.81% or $5,000.00. Your monthly mortgage payment of $471.10 includes both principal and interest and is based upon a loan amount at an interest rate of 5%. Because your down payment is less than 25 %, we have included Mortgage Insurance to be paid on a monthly basis. | Summary:
By buying your home versus renting you will have saved $77,041.82 over the next 10 years. (Net Appreciation - Total Investment Return + Total Rental Payment - Total Mortgage Payment) | Breakdown of this Analysis:
| | Total Rental Payment: | $104,430.44 | | Total Mortgage Payment: | $93,024.63 | | Down Payment: | $5,000.00 | | Home Value: | $133,555.37 | | Interest Earned: | $3,144.47 | | Remaining Loan Balance: | $59,774.88 | | Total Investment Return: | $8,144.47 | | Net Appreciation: | $73,780.49 |
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So as you can see, does it not make sense to purchase over renting? |
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