Condos in London Ontario
Every day we get asked about the London Ontario condo market.
Are you looking for townhouses or townhomes?
The first step in answering any of those questions is understanding how the London real estate market is performing and not by guessing or burdened with emotional perceptions. Every day we are active in the condo market, helping clients buy or sell one. We continuously are researching sale prices, days on the market, sale price to asking price ratios and reductions.
London, Ontario, offers some of the best values in real estate in Ontario. We are halfway between Toronto and Detroit for air travel and leisure, Lake Erie to the east and Lake Huron to the northwest, all within a 50-minute drive!
Preparedness: Is one of our core principles
Price, condition, style and location dictates what a townhouse, townhome or an apartment sells for and how long it will take to market. Our buyer clients do not overpay, and our sellers do not leave money on the table because of blind optimism or false perceptions!
As the owner and Broker of Record, our associates built this brokerage on the principle that for a client to make the right decisions, they have correct up to date facts & solutions. Over the years, from experience & repeat and referral business, that principle still holds today.
Five Musts Before Buying a Condo Or Even Thinking About It!
1. Take a look at the currently active (for sale) listings in the area, building and complex. Is the unit you’re considering priced within reason? If so, you know you’re at a reasonable starting point.
2. What is the average selling price compared to the listing price? Take this into consideration when making your offer.
3. Make sure you visit several other properties to compare.
4. Take a look at the average market times for listings in the area. If they consist of 30 days or more, the market may be soft, and if all are selling in a few days, you may have little room to negotiate.
5. What is the percentage difference from assessed values to market price? (I have an excellent formula for this and have found over the years to be right on the money!)
You’re now ready to make your offer. This is where strategies come into play, and one of the essential steps in the buying process and this is where most either overpay or not get what they want because of poor negotiating.
Most Importantly, Avoid Emotional Attachment to What You’re Considering
If your heart is racing and can’t hold back your emotions, you’re not going to do well when negotiating. And, in some cases, money may not be the issue; it could be the layout, neighbourhood or perceived lifestyle.
What’s the single best piece of information you can have?
Other than my phone number 519-435-1600, work with a Realtor who knows condos in London, Ontario and has a 118 step condo buyer program, works every time!