Does it Pay To Downsize in London Ontario?
15 May 16 07:49 AM | Ty Lacroix Broker of Record & Owner | (Comments Off)   

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.

downsizing London Ontario

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 fully understanding the financial implications and the 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!

How To Take Advantage of The Very Active Real Estate Market in London Ontario
09 May 16 10:58 AM | Ty Lacroix Broker of Record & Owner | (Comments Off)   

  How do you, as a home owner in London Ontario, able to maximize the sale price of your home in this very active real estate market in London Ontario and area?

 Being prepared ahead of time before your home goes on MLS can be one of the best advantages you will ever have to get what you want.

 I do not mean testing the market with a price that a reasonable buyer would never consider, I mean, factually align your arsenal with quality information, such as up to date factual sales history( not what your neighbour said she got), the neighbourhood desirability and most important, is your home in what Realtors call ‘show ready’?

 As well, what is the process if you did get an offer, or two or three?  It could be in some cases that the highest price offer may not necessarily be the best for you!

 What would you do if you did not receive an offer in 2-3 weeks? Would you know the reason or would your first instinct be to put the blame on something or any one person?

 Being prepared will allow you not to make impulse decisions that could cost you.

Why Airlines Are Smart To Charge For Excess Baggage
04 May 16 11:02 AM | Ty Lacroix Broker of Record & Owner | (Comments Off)   

I think that the Airlines are wise to charge for extra baggage because as humans, most of us anyway, pay for the extra baggage in our lives in some form or another.

They know that we will pay, reluctantly or not because we pay the price for excess baggage in our daily lives, be it a mental or physical payment.

So what we do when we do not want to pay for excess baggage with an Airline, is get rid of some of the excess baggage, in other words, lighten the load.

So in the real world, to get rid of the baggage in our lives, we too must lighten the load.

How you do that is beyond my ability to preach or analyse but if you don’t want to pay the price for the excessive perceived burdens we carry, eliminate them!

Just a thought!

Common Sense or Impulse When Buying a Home in London Ontario?
03 May 16 12:02 PM | Ty Lacroix Broker of Record & Owner | (Comments Off)   

   Mark Twain wrote that humans have a lot of common sense, which is why they don’t use it! I was looking at the daily home sales in London Ontario (April 2016 a record month) and saw some homes in London sold at 110% - 125% over the asking price!


 It seems to me that home buyers either act on impulse or on self-discipline! Impulsive action is based on emotion (keeping up with the Jones’s or fear of loss) rather than common sense.


  Acting impulsively has consequences and for a buyer of real estate, that could mean, when it comes time to sell, the market either has decreased or not kept up with inflation, being house poor and in turn, having to become more frugal in the other areas of their life.


  In the heat of negotiating, counter offers and multiple offers, most buyers act impulsively, even their sales representative. In my article ‘Who wins, who loses?’ I cover a scenario of over paying for a home.


 How I think a buyer should act.


 Be prepared! First, know the facts, neighbourhood prices, your financial limitations and lifestyle and secondly, psychological preparation.


 Facts are the easy part and make sure they are facts and not opinions. Mentally being prepared to walk away takes courage and good old common sense.


 That being said, it seems I will never be wealthy as a real estate sales person if you believe this well know statement of salesmanship:


“You can do well by selling people what they need, but you can be rich by selling people what they want!”

Record Real Estate Sales for London Ontario
03 May 16 10:42 AM | Ty Lacroix Broker of Record & Owner | (Comments Off)   

 April 2016 was an excellent month for real estate in London Ontario with 1,068 being sold through our MLS system, the best April ever!

  Sold by Ty Lacroix in London Ontario

Year-to-Date in London Ontario and area, sales were up 10.7% over 2015.

 1,650 homes were listed for sale in April, 2016, down 14.2%, and inventory (homes for sale) – was down 23.3%.

  According to Canada Mortgage and Housing Corporation, (CMHC), current market conditions are starting to resemble the seller's market conditions in 2003-2007, when quarterly prices were up 6 to 9% from the same period a year earlier.

 St. Thomas also had an outstanding April with 86 homes sold, compared to the 77 sold the previous April. The average price of a home in St. Thomas so far in 2016 stands at $219,560, up 1.3%.

 The best-selling house style in LSTAR's, (London St. Thomas Association of Realtors) jurisdiction for April 2016 was the two-storey, and then the bungalow, followed by ranches, then townhouse condominiums, and then high rise apartment condos.

 The average price for a detached home in London and area was $290,773 up 3%, while the average price for a condo over the same period stood at $196,903, up 3.7%. The average price of all homes sold through LSTAR's MLS® Year-to-Date stood at $272,663, up 3.1%.

House Style

Units Sold

Average Price

2 storey

277

$370,330

Bungalow

187

$210,838

Ranch

117

$353,256

Townhouse

91

$174,127

High rise apartment. condo

50

$182,306


 The following table, based on data taken from CREA's  (Canadian Real Estate Association) MLS® Report for March 2016 (the latest information available), demonstrates how homes in our jurisdiction continue to maintain their affordability compared to other major Ontario and Canadian centers.


City

Average Sale Price

Vancouver

$1,052,737

Fraser Valley

$702,230

Toronto

$675,125

Victoria

$553,277

Hamilton-Burlington

$471,832

Calgary

$458,685

Ottawa

$376,910

Edmonton

$373,885

Montreal

$351,761

Saskatoon

$350,450

Kitchener-Waterloo

$347,535

Regina

$301,547

London St. Thomas

$272,6631

Canada

$487,077


5 Bedroom Student House For Sale Real Close to Western
01 May 16 11:33 AM | Ty Lacroix Broker of Record & Owner | (Comments Off)   

 Want to invest in Real Estate in London Ontario? This 5 bedroom house at 1056 Brough Street  is located real close to The University of Western Ontario and generates $2625 per month plus utilities, 4 tenants on lease to May 2017 and the 5th on its way!

 You can see a virtual tour and more information here.

Lessons From The Great Minds of Investing
21 April 16 11:21 AM | Ty Lacroix Broker of Record & Owner | (Comments Off)   

  The following is a blog post by Rob Minton, who used to blog under 'Renegade Millionaire' and has just changed to 'Cashflownaire'

 I share this with you as what Rob writes about is his investing experience and a different outlook on life over the years.

 I do not know Rob but do subscribe to his articles and it may be worth it for you as well if you are an investor in real estate and want to take life a little more simpler.

 Here it is:

 This video is of a presentation by William Green who is the author of “Lessons from the Great Minds of Investing.” I haven’t read the book yet, but enjoyed this presentation. In the presentation, he shares insights he learned from studying great investors. His quest was to find out how these investors stacked the odds of success in their favor.

One of the lessons he shares around the 17:00 mark is “extreme patience.”

Historically, I haven’t been a very patient person. I’ve always thought nothing happens unless you make it happen. Well, this thinking has led me to make numerous mistakes over the last few decades. I’ve finally learned to use patience to my advantage. However, I’m far from perfect and still wrestle between action & patience.

When is it best to be patient?
When is it best to take action?

Think about these two questions, because they’re very powerful and may be extremely helpful in your life.

 Read the blog post here

Good Questions To Ask a Realtor When Selling a Home in London Ontario
19 April 16 01:59 PM | Ty Lacroix Broker of Record & Owner | (Comments Off)   

When you are thinking of listing your house or your condo for sale, a neighbour, a friend might refer someone they had worked with  or you may chose the Realtor who helped you buy your home.

Are they chosen to handle one of your largest financial experiences because you like them ,they are related, they are with one of the largest real estate companies in London Ontario or you like the colour of their signs, or, they offer a discounted commission fee?

Would skill & experience matter? How can you tell? 

Below are some questions you may want to get honest answers for before you entrust hundreds of thousands of dollars.


  • Do you work as a full-time Realtor?

  • How many potential buyers and sellers do you talk with in a week? A month?

  • Of those you speak with, how many actually contact you as opposed to you cold calling them?

  • How many buyers are you currently working with?

  • In what ways will you encourage other Realtors to show and sell my home?

  • What can you tell me about the real estate market in this area?

  • What price do you recommend for my home, and what is it based on?

  • What are your average days on market?

  • What is your list to sales price ratio?

  • What kind of marketing do you do?

  • May I see some samples?

  • How often will my home be marketed and updated, and where?

  • Will there be a virtual tour?

  • How do you attract buyers from outside the local area?

  • Will you prepare an informative feature sheet for my property?

  • May I see a sample?

  • Where and how will the feature sheets be distributed, and to whom?

  • Do you have a system to follow-up with other agents and brokers so that we get valuable feedback after every showing?

  • Can you show me a sample?

  • How often, and in what way will I be kept informed?

  • Are you associated with a national referral network that refers their buyers to you and gives you the opportunity to refer me to the top agent in the town or province I may be moving to?

  • Do you have a Specific Marketing Plan designed to sell my property quickly and for top dollar?

  • How does it go beyond placing a sign in my yard and notifying the Multiple Listing Service?

  • May I see a copy of your last listing as it appears to other Realtors on the MLS?  (Called a “Realtors Full Report”)

  • How many homes have you sold in the past 6 months? Year?

  • Do you have references that I may call?

  • What happens if I am not happy with your service? Do you have a 100% satisfaction guarantee policy?

  • Can I cancel my listing if I am not satisfied or am I locked in?

  • Questions to ask a Realtor When Buying a House or a Condo
Rightsizing, Downsizing in London Ontario, Some Choices
15 April 16 11:17 AM | Ty Lacroix Broker of Record & Owner | (Comments Off)   

  "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

Who is Responsible For Being Canada's Wealth Destroyers?
14 April 16 11:17 AM | Ty Lacroix Broker of Record & Owner | (Comments Off)   

   In the March 30 issue of Maclean’s Magazine, Jason Kirby’s article ‘Canada’s Wealth Destroyers’ writes about the huge dip in the share price of Valeant, the boom & bust of Nortel, Blackberry’s fortunes and the ups and downs of Encana, Barrick and Potash Corp.

  winners and losers in the game of life

  My question is, did those 6 companies cause the losses or was it investor greed, fund managers doing what everyone else was doing, going with the flow or financial advisors not advising wisely?

   Not being a very bright guy, if someone buys a stock or sells a stock, someone came out ahead, didn’t they? If a so called financial expert advised you to buy or sell shares in any of those 6, did he or she not get remunerated whether you made money or lost money?

  Where did those billions of dollars go?

   Most Canadians are too polite to talk about winners and losers and most  cheer for the underdog. Well, clap your hands; shout with glee because the underdogs here are:

  • The greedy
  • The lazy
  • The dreamer
  • The over indulgent individual who wants a $100,000  foreign lazy boy chair  on wheels, with leather heated seats, a bedpan and catheter as a standard feature, the $1,000 a night hotel room, the 6th watch (you now have to be an astronaut to read one).
  • Those who do not know what the word ‘enough’ means.
  • The un-washed

  All five of the above will lick their wounds and the majority will start looking how, where and when to jump on the financial treadmill again!

The Best Way To Buy Real Estate in London Ontario
10 April 16 09:10 AM | Ty Lacroix Broker of Record & Owner | (Comments Off)   

   Are you looking for a house or a condo in London Ontario and area?  Are you aware that in some of the top neighbourhoods in London in London, some homes are selling in a day or two or that some homes are dramatically overpriced?

                   real estate for sale London Ontario  


 Are you frustrated with some real estate people and fruitless searching? As a Realtor as well as a professional home hunter, I work exclusively for the buyer while the listing sales person is working for the home seller. When you contact a listing sales person, he or she will show you properties that they have personally listed for sale.


 Some may not even show the whole portfolio of homes on MLS that other Realtors have within your price range. The majority of real estate people may say they “will keep an eye out for you”, but the reality is they will put you on a database and only send you properties they occasionally list for sale, or,  an avalanche  of properties you are not even interested in!


 To find the right property for you at the correct price, having an exclusive buyers’ agent, who knows the market inside and out on your side , will make things go much easier for you and your pocketbook.


  Over the years I have come up with a process that puts you in the driver's seat. I like to take the time (which will save you many hours later and frustration)  to understand your individual needs by creating a personalised “property profile”.  I have an extensive network of contacts that clients have said have saved them  days and even weeks of searching. Be it private homes for sale ( For sale by Owner), MLS or an exclusive listing, I can find it.

                   Professional real estate people


 90% of the time, I have no vested interest in selling you anything ( unless it is one of my listings which I disclose up front and in writing), I provide impartial and unbiased advice on the true value and pricing of any of London’s premier homes. Even if you feel you are a good negotiator, my proven performance to act as your lead and go-between has been highly successful for all our past clients.


 Whether you are a busy professional, business owner, growing your family, rightsizing your home or an investor  I treat your personal property search as if it were my own. Where privacy or anonymity is given lip service by some,  complete confidentiality is my fiduciary and moral duty. 


 Finding that right property and unusual properties for sale is all about networking. A significant number of properties are sold “privately.” I have a long-standing relationship with a wide spectrum of sales people, law offices, estate planners & financial advisors to uncover those properties  for sale.


             Appraise and Negotiate – Professional Help with Property Negotiations

  Buying a property is usually the most expensive purchase you will make in your life and it’s not something you do every day of the week (unless you are like me and do it daily).  There is no doubt having a skilled property negotiator on your side can save you thousands and even saves you the frustration of missing out on those For Sale by Owners or Exclusive listings!


 The listing sales person is not working for you in a real estate negotiation – they are working for the home owner.  An independent buyer’s sales representative  will work with your best interests at heart to take a firm and fair approach to negotiating the best outcome for you.  


  My appraisal and negotiation service is ideal for those of you who enjoy the search but want to bring in  experts to get the true market value of the property and know that they can secure it at the right price through expert negotiation.


  I can establish the true market value of your chosen property by conducting a detailed analysis using  local knowledge and access to extensive sales databases.

                        finding the right house


  My inovative Dedicated Buyer Program provides an objective and unbiased view on the property’s true worth and removes the emotion from the buying process. This coupled with expert negotiation skills means my  clients  save thousands of dollars. Remember:


  "Price is what you pay, value is what you get" Warren Buffet


  Again, when you engage in my Dedicated Home Buyer Program, I take the time up front to understand your needs, reviewing your criteria and designing a strategy to meet your goals. I then , ( at no cost to you, I only get renumerated AFTER you have successfully taken possession of your home) undertake an extensive research to match your purchasing criteria with properties for sale. I even have have access to many properties that may never appear on the open market (sometimes called “exclusive listings”).


  My full search service includes:

  • Initial consultation to obtain an understanding of your requirements
  • Extensive market research
  • Access to all current listings in the chosen area & private listings
  • Property price negotiation
  • Property investment education
  • Current market update
  • Total discretion and confidentiality
  • Undivided loyalty
  • Coordination of necessary support services e.g. legal, home inspection, movers, trades people, property management etc. 
  • You work with me and me only, not an associate, not a new sales person, not a neophyte, not a part-timer or weekend warrior!

  I can also refer you to my  network of trusted real estate companies all across Canada,even some cities in the US.


   For property investors (residential and commercial), I am constantly researching and reviewing the market to look for areas that have consistently performed well for capital growth and rental return or have significant potential for capital growth due to infrastructure and population modalities.


                       professional in every way

                                       Actually  Buying a Home in London Ontario and Area

   Buying a home in London Ontario and area is exciting but can be time consuming and expensive. It can be an emotional roller-coaster ride that sometimes can end in frustration. To buy a house or a condo requires weeknights spent searching for new listings, phone calls to agents and driving around every weekend inspecting properties. It’s an exhausting process for most home buyers!


     Does this ring any bells with you?


  • Are you feeling overwhelmed, frustrated, or simply tired of searching for London area real estate?
  • Have you missed out on homes several times or perhaps spent wasted money on building inspections or other services?
  • Have some listing real estate sales people enticed you to make offers but only to find out later that the sales price went way above your expectations?
  • Are you confused by typical price guides that bear no resemblance to the ending sales price?
  • You just can’t find enough time to do the search for the right home.
  • You’re not sure which other London neighborhoods might work for your lifestyle.
  • You would really like someone to be on your side, giving sound advice and help remove the emotion from the buying process.
  • How do you compete with other buyers in the London Ontario real estate market?

​                frustrated buyer

   Welcome to what I do. The searching and negotiating process is  what I do best, buy your next home in London Ontario and area without undue stress or hassle of dealing with a wannabe. I actually make it very boring!


               How do I help?


  If you are in the market to buy, then using my “Dedicated Home Buyer Program” will fast-track the process and protect you from paying too much, or heaven forbid, the wrong home!


    I have a proven five step method to buying real estate …


  1. Create a “Property Profile” – I discuss with you your detailed preferences and then target the best London neighbourhoods.
  2. Research – I then conduct an extensive search to access the most suitable properties (both on MLS and private sales).
  3. Shortlist – after we see properties in person, we cull the properties into a shortlist for your personal inspection.
  4. Evaluate – using the latest sales data, I provide a written appraisal (current market value) that protects you from paying too much.
  5. Negotiate and secure – I will negotiate and deliver to you the best possible price & terms.

  

               Where in Ontario Do I Work?


   As the owner and Broker of Record of my real estate brokerage ,I personally cover all of London and South West Ontario. I am licensed in the Province of Ontario and can refer you to my  network of qualified real estate professionals across Canada, Florida, California, Arizona, North and South Carolina!


     What’s the cost?


   99.8% of the time I am paid by the listing real estate brokerage which is disclosed to you up front at all times in writing and verifiable.


  In the case where it is a private sale and the seller refuses to pay a fee or the fee offered is not consistent with our level of service, my fixed fees for the full search service are the equivalent of around 2% of purchase price for properties up to $1 million dollars, and then a sliding scale applies above that level.


   No retainer fee or any upfront fees are required; I only get paid once the property you choose has changed hands. In other words, if I don't perform, I don't get paid! 


 I call it my success fee! I get paid only after you have successfully and happily purchased a property.


    What’s the benefit?


  • Access more properties – far more than just the MLS system, I can uncover exclusive properties before they hit the market and For Sale by Owners.
  • Get insider knowledge. I’ll give you all the latest data and trends to make an informed decision
  • I’ll put you ahead of other buyers –  vast experience means you are in control.
  • Pay the right price – I’ll provide a detailed appraisal of your chosen property advising you what it's worth, then negotiate skillfully to save you as much as possible.
  • Save time – tap into my extensive network to find your ideal property much faster!
  • The benefits certainly outweigh the costs of money and time when it comes to buying a house or condo in London Ontario and area.

​                              The next step

 What is the next step?

   See our client reviews 

        Frequently Asked Home Buyer Questions:


      What am I getting for my money that I cannot achieve myself?

   Buying quality real estate in London Ontario and area is not a part time task. As a professional  Realtor, I work for you day in, day out to find the right home for you. I listen to your needs and will provide you with independent advice to confirm your decision. I understand local market values intimately. 


   Once the right home is found, my exhaustive research in appraising the value of the property and negotiating will give you peace of mind and ensure that you not overpay.


    Will you listen to my needs? 


    Of course – listening is the most important aspect of any relationship, that is why we have two ears  and one mouth, to listen twice as much more than we speak.

                  we listen


    How will know you really understand my requirements?  (How could you possibly know what I want?)


 This is a common fear of most buyers. I spend a considerable amount of time asking about your needs and wants BEFORE starting the search process. 


  Will you overlook properties that may have been of interest to me?


  Absolutely not. I will leave no stone unturned. If there is any doubt that a property may be of interest to you, I will present it to you. It’s often a fine line as I am careful not to waste your time. But when in doubt, I will bring it to your attention.


  Can you find me off-market properties?


  Absolutely. I maintain a professional relationship with the top selling agents for access to many exclusive listings. The volume of business I do makes it very attractive & receptive for other real estate sales persons.  I routinely contact selling agents in my  extensive database and constantly ask for and receive exclusive or private listings. If the right property is out there, I will find it for you!


  Will you guarantee to find me a home?


  I have successfully purchased homes for more than 99% of our clients. Those not proceeding usually comprise of people who have had a change in their personal circumstances.


 I guarantee not to waste your valuable time sourcing inappropriate properties. I will deflect all the stress and detail and save you days or even weeks of endless searching. 


  With my assistance, you will save time, money and stress in the purchase of your next home. You will gain access to more properties, be better informed about comparable sales and understand the true value of each property.


   When you do decide on the right property, I will negotiate for you so you will be able to make a rational decision about price without the stress and pressure of dealing with real estate listing sales people or having to negotiate directly.

                we compete

What is the process and how long will it take?


  Once you are comfortable with me amd I with you to proceed, I will conduct a thorough research and then present you with a shortlist of homes.


  If you wish to pursue any of the chosen properties, I then conduct a full appraisal of the property and negotiate on your behalf. The decision to buy is then yours. I am committed to finding you the right home, no matter how long it takes. 


  What is the difference between a buyers’ agent and a selling agent?


  The key difference between a buyers’ agent and a traditional selling agent is who they represent. A buyers’ agent works exclusively for the buyer, whereas the selling agent works for the vendor (seller). 

 

  How will I know what the property is worth?


  I conduct extensive due diligence for  clients on recent sales and have access to a comprehensive database of all past sales. I discuss the positives and negatives of each  property. Using this information, together with information on the state of the market provides my clients with the assurance they are not overpaying.


In fact, in the chart below, my  clients usually find they are buying at a price below market and comparable values. 


  Do I have to be wealthy to be able to afford a buyers’ agent?


  Definitely not. I assist individuals, couples and families of all budgets, saving them money by doing extensive research and analysis, looking at comparable sales and market data, and by negotiating hard to secure the best price, terms and conditions possible.


  You will make an informed choice and will be confident that you have bought well, whatever your budget. It’s a small investment to make when you consider the expert advice and savings you will make on your new home purchase!


Below is a sample of the last 10 buyers and what they saved!

Listing Price

What my

Buyers

Paid

Difference

% of Asking

Price

$395,900

$364,000

$31,900

91.9%

 $236,000

$235,000

$1,000

99.5%

$399,000

$380,000

$19,000

95.2%

$549,900

$549,900

0

100%

$879,000

$840,000

$39,000

95%

$589,000

$560,000

$29,000

95%

$259,900

$251,500

$8,400

96.7%

$494,900

$467,500

$27,400

94.4%

$299,900

$290,000

$9,900

96.6%

$789,900

$730,000

$59,900

92.4%

Total List

Price

Total We

Paid

Total My

Clients Saved

Total %

$4,893,400

$4,667,900

$148,100

95.3%


Average Sale Price to Listing Price in London 97.68%, me 95.3%

I see but do not see what you see

Would Warren Buffet Invest in Real Estate in London Ontario?
05 April 16 08:21 AM | Ty Lacroix Broker of Record & Owner | (Comments Off)   

 Would Warren Buffet invest in real estate in London Ontario? I do not know but if he did, he would use the sound principals that he employs every time he invests.

 Using his mentor's ( Benjamin Graham) advice of : "Price is what you pay; value is what you get", he would do well.

  In this classic 2014 letter to shareholders he compares real estate to a mouthy neighbor shouting his estimate of your farm’s value over the fence at you, while you are busy producing food from the land and the sunshine. The mouthy neighbour has all the advice in the world but never produces. 

Or my take of this, the complainypant who says real estate is overpriced, underpriced, interest too high, too low, waaaaah, waaaaah, or neighbours, co-workers or a family member giving advice on real estate. The wise real estate investor looks at the long term picture, can project revenue over the long haul and does not even think about appreciation or speculating.

Home Sales in London Ontario Highest in 10 Years!
04 April 16 11:50 AM | Ty Lacroix Broker of Record & Owner | (Comments Off)   

  860 homes sold in March 2016 in London Ontario and area, up 11.8% over March 2015, making it the best March since 2006.  Home sales in London Ontario are up 10.8% this year.

     Home sales in London Ontario

  1,579 homes were listed in March 2016, down 1.7%, and properties listed for sale were down 16.6%, making this a seller’s market.

 St. Thomas did quite well with 75 homes being sold, compared to the 58 sold the previous March. The average price of a home in St. Thomas so far in 2016 stands at $219,822, up 1.4%.

  The best-selling house style in our MLS area was the two-storey house, then the bungalow or ranches, then townhouse condominiums and high rise apartment condos. 

  The average price for a detached home in London and area was $291,281 up 3.2%, while the average price for a condo in London was $192,619, up 1.5%.

House Style

Units Sold

Average Price

2 storey

197

$379,551

Bungalow

158

$228,156

Ranch

104

$334,200

Townhouse

81

$160,962

High rise apt. condo

50

$171,994

The following table, based on data taken from CREA’s  (Canadian Real Estate Association) National MLS® Report for February 2016 (the latest information available), demonstrates how homes in THE London St. Thomas Association of Realtors (LSTAR) jurisdiction continue to maintain their affordability compared to other major Ontario and Canadian centers.

City

Average Sale Price

Vancouver

$1,052,871

Fraser Valley

$673,678

Toronto

$678,386

Victoria

$542,615

Calgary

$461,982

Hamilton-Burlington

$461,385

Edmonton

$364,201

Ottawa

$356,324

Montreal

$350,220

Kitchener-Waterloo

$338,121

Saskatoon

$333,519

Regina

$313,490

London St. Thomas

$271,9201

Canada

$483,957


  So. what does this all mean? For buyers, get your ducks in a row

,get your ducks in a row

get market education and shop wisely and for home sellers, price it right, show it right and if you put yourself in a buyers' shoes, you will do well!

put yourself in somebody elses shoes

Weird London Ontario House Buyers or Sellers, Please Don't Call Me!
02 April 16 03:37 PM | Ty Lacroix Broker of Record & Owner | (Comments Off)   

               Whacky Wealtor Thoughts

  Where on my website does it say " If you are weird, different, a complainypant, penny-less, unwashed, rude,  nose up your ass type of person or 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 kid's wading 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 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, 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!

Wortley Village Old South London Ontario Real Estate Update
31 March 16 10:38 AM | Ty Lacroix Broker of Record & Owner | (Comments Off)   

   36 houses were sold in Wortley Village and Old South London from January 1, 2016 to March 31, 2016 for an average price of $311,224 which was 99% of the asking price and these took about 26 days to sell.

   2 condos were sold in the same period at an average price of $164,900 and these sold for 97% of the asking price.

 A caution here about averages. If one house sold for $500,000 and another house for $250,000, then the average selling price in that period would have been $375,000, scaring off the seller of a $450,000 house and exciting the seller of the $250,000 house!

 Or, the tire kickers think they can buy a $500,000 house for 10% less or the uninformed first time buyer or unwashed will pay the asking price on a $300,000 house.

 I once heard that real estate would be real stable if people did not over-think too much!

  In 2015  

  239 houses changed hands in the Wortley Village, Old South London Neighbourhood.

       Wortley Village, Ols South London Real Estate

   These houses averaged 30 days to sell &  sold for 99% of the average $297,263 asking price! 12 Condos in Old South London sold in the same period for an average $341,916, they took about 58 days to sell for 96% of the asking price.

  2014

  The real estate market in 2014 in Wortley Village, Old South London was very active with 194 houses exchanging hands for an average price of $289,105 up from the average price of $274,448 in 2013. 

   These houses for sale in Old South London took an average 33 days to sell and they sold for a little less than 2% of the asking price!                                   

   The character and charm of this great London neighbourhood is what attracts home buyers and the people who do live in Old South love the ability to walk and shop in the Wortley Village core, with tree lined streets and no cookie cutter homes.

  As with any real estate market, some properties are sought after and others, well, are overpriced for the location and condition!

 Looking for a house for sale in Old South London on MLS? Here you go!  Or Condos?

   Other London Neigbourhoods

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