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Six Numbers To Know Before Making An Offer On a Home in London Ontario

When buying a home in London Ontario, and before offering on a condo or a house, understanding the significance of numbers concerning the home you are considering will make a massive difference in how much you offer.

Influence the property value of your London Ontario Income Property

1. Look at the currently active (for sale) listings in London Ontario.  Is the home you’re considering priced within reason to others?   If so, you know you’re at a reasonable starting point.

2.    Now, take a look at the average selling price of homes in London compared to the listing price.  You may notice that most homes in London are selling for the asking price or over.  If that’s the case, you know the original offers were LESS than this amount.  Take this into consideration when making your offer.

3.    Now, make sure you visit similar real estate listings in the area.  How does your choice compare to the others on the market?  Is the home you’re considering in a similar condition?  Is it bigger, smaller, better style, better landscaping, etc.?  These factors will help you determine how much you should pay for your home vs. how much others paid for similar homes in the neighbourhood.

4.    Now, take a look at the average number of days on the market for listings in London is.

5.    What is the percentage difference from assessed values to market price? (I have an excellent formula for this and have found it over the years to be right on the money!)

Now you are ready to make an offer.  The strategy here is imperative; try to keep emotion or fear of losing out of the equation.

I said there were six numbers; here is #6,  my number 519-435-1600!

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Ty Lacroix

"Not All Realtors Are The Same"! This website and content are for you and are designed and constantly upgraded with the latest real estate trends, how-tos, and what is for sale on MLS. Our primary focus is guiding home buyers and sellers to make good decisions. We believe selling real estate is a process, not an event or knee-jerk reaction; we sleep well at night and ensure our clients do as well! We are not for everybody, nor can we please everybody, nor do we tell people what they want to hear; I know that may be old-fashioned and boring, but we are dealing with hundreds of thousands of your hard-earned money. Would you rather be happy, excited and bored or unhappy, excited and make a poor choice? About Ty I am a Broker with Sutton Group Preferred Realty Inc., Brokerage and the team leader for The Envelope Real Estate Group, that's enough about me! You see, this is about you, you do not want to hear blah blah stuff about awards, designations, or that we walk older adults across the street (I used to help old ladies cross the street, but as I got older I did not want my wife to think I was flirting) the reincarnation of Mother Teresa, walk on water or anything else to impress you. We let the numbers speak for themselves; success leaves clues!

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