Hyde Park London Ontario Real Estate


 2017 prices and the days it takes a house or a condo to sell in Hyde Park in London Ontario are setting all time records, will it continue? We are still seeing a shortage of quallity houses and condos listed for sale and buyer demand has cooled a bit, I feel things will settle down late fall early winter.

 From January 1, 2017 to August 29, 2017, 234 houses in Hyde Park were sold through our MLS system for an average price of $400,454 which was 106% above the asking price and these were on the market an average 17 days!

 85 condos in Hyde Park sold for an average price of $252,353 which was 102% of asking and these took about 20 days to sell.

 As you can see, Hyde Park real estate is in demand, where do you stand if you are thinking about selling your house or condo in Hyde Park? What about buying? 

  What you do over the next 90 days is critical, I am sure you have heard that timing is important? In these roller coaster days of pricing and availability, this is where a professionalism comes into play!

       2016

    285 houses in the Hyde Park neighbourhood in London Ontario sold through MLS in 2016 , starting as low as $316,000 and up to $605,000 and these all sold close to asking price in about 31 days! 

 In 2016, 88 condos in Hyde Park were sold, from $218,000 to as high as $620,000 and these took about 41 days to change owners and for 98.4% of the asking price.

All the houses & condos for sale in Hyde Park London Ontario on MLS

   In 2015,  245 houses changed hands through MLS (on the market an average 37 days)  in the Hyde Park neighbourhood of London Ontario and those that sold, did so for $286,618 which was 2 % less than the asking price.

 For condos in Hyde Park, 95 sold for an average $215,645 and these took about 53 days to sell.

     

                                    Hyde Park London Ontario Housings Stats

      In 2014

 Home sales in 2014 in Hyde Park London Ontario were quite active with 294 houses selling for an average $281,782 which was 98% of the asking price and those that did sell were on the market an average 34 days.

 In this same period, 138 condos in Hyde Park sold for an average price of $186,292 which was 98% of the asking price and these took an average 55 days to sell!

 All in all, a very stable market and as Hyde Park keeps attracting more retail and service businesses, the housing market will continue to grow.

                                Hyde Park London Ontario Map

 Other London Neigbourhoods


Does Price Really Matter When Listing Your House in Hyde Park?


Every seller wants to realize as much money as possible when selling his or her home.  The natural inclination is to price the home a little higher, thinking you can always come down in the future. 

 

                            putting your house on the market

        But listing your house in London Ontario price that is too high frequently nets the seller LESS money than an original price at market value.  Why is this?  Because, when most people looking for homes in your price range, they will reject your home in favour of other homes in a reasonable price range.

   Buyers know prices, they may have already been in 6-10 homes, they can compare and in the long run, the buyer will decide if your home is priced right! No offers on your house after 30 days, what do you think the reason was?

        So you price your home high, thinking you can come down.  Problem is, the agent and buyer community don’t look at it that way.  They see it as an overpriced house.  After a few months go by, a few open houses, signs, agent tour s and not a nibble.  

        Finally, in order to attract attention back to your home, you’ve reduced your home price more than you ever thought you would, and you’re now netting much less than if you had priced it correctly in the beginning.

 And think about this:  The money you lost is not just the lower sales price, but all the extra interest you paid on your mortgage…all the extra property taxes and other carrying costs that accrue while your home is waiting to sell.  I’ve seen it happen time and again!                              

   I call it chasing the market or to be subtle, like falling off a cliff in the night, you know you are going to hit the bottom but you don’t know when!

Real Estate Fact: The Seller Is Solely Responsible For How Much, and How Quickly Their Home Sells!

                    pricing too high

Overpricing almost always increases time to sell, and adds to your carrying costs.  

 I wrote a seller's guide that should share some light on maximizing your sale price:                             

  • How to set the asking price to maximize exposure and a profitable sale.

  • How do you really define and compare market value between homes?

  • How the total market performance may affect your home sale – positive or negative.

  • How to handle buyers during any showing to help yield the highest price.

        Once you can grasp these important issues, you’ll know how to price and sell your home for the fastest, most profitable sale.  

Also, with this information, you’ll never pay too much for any home you buy for the rest of your life.

      


Condos in Hyde Park London Ontario


Selling a condo in London Ontario is a lot different than selling a house. It takes more skill to attract traffic (buyers) to your door!

There are only a few apartment buildings or townhouse complexes in London that allow a for sale sign out front, the majority of building do not permit signs or even notices in the lobby. 

So, how do buyers know your  condo is for sale?

if you think that just being on MLS is all that is needed, think again. It takes a combination of MLS, external web sites, social media, blogging and links to prospective buyers!

Getting results (an offer) in a reasonable time should be the standard.

Learn how!

           


Rightsizing? Moving to or From Hyde Park?


Downsizing From Your House in London

Some Tips!


Deciding on Buying a House in Hyde Park?


 

Tips For Buyers

As a home buyer in London Ontario and area, being your first time or your 5th, most buyers  face at least one of these situations.

  •  You’re looking to make one of the most important purchases of your life and you don’t want to get burned because of not knowing whom you can trust, or making a mistake that could cost you thousands of dollars later.

  • You think you know the values in the marketplace , but are not really sure. You know how much you are pre-approved for, but you don't want to go that high. What you really would like is to be assured of getting the most that you can for your money, without having any regrets after your closing.

  • You’re feeling out of control because there are so many unanswered questions. Making it hard to know where to start. 

 

     Is there an easier way ? Not really! I believe these are all good concerns because you are spending hundreds of thousands of dollars. You should be very cautious how you proceed.

 

    As a professional  Realtor®  and house hunter there is no need for a buyer to have this uncertainty and  fear of the unknown . If you take a deep breath and get the facts and not opinions on price and neighbourhoods around London Ontario, the home buying process will at least be clearer.

 

   Basing your decisions on logic and controlling your emotions goes along way in ensuring the home you buy will be a wise financial decision. The hundreds of buyers we have helped sure think so because they told us.

 

 Does it not make sense that in order for you to make one of the most important decisions in your life you may want to be well informed and protected?

 
 

Why use a Realtor to buy a New Home in Hyde Park?


  

 What is the advantage, disadvantage if I  use a real estate person to buy New Home Construction?

                                                              Use a Realtor to Buy New construction

   The builder has either  a professional real estate representative watching out for their interests or their own salaried/commission sales person representing the builder  and you need and deserve the same expert representation watching out for your interests.

   Lawyers are not allowed to represent both parties in a real estate transaction, there is a some great reasons for why that is.

So, who represents you when buying a new house or condo in London Ontario?

   Buying a new home  can be a little more challenging  and time-consuming than buying a resale home and in most cases, it makes sense to have some one on your side!

Is there any advantage to not using a Realtor to purchase a New Home Construction?

   No.  There is no financial advantage for you to buy directly from the builder.  Builders have a “single-price” policy meaning you will be charged the same price whether your interests are represented by a Realtor or not. 

Just as in any resale transaction, the Seller pays your Representative’s fee.

What to know!

 


Love It Or Leave It


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.