London, ON Real Estate News

London is one of the most stable real estate markets in Canada. ReMax has completed a national study of home prices increases across Canada during the past ten years. Surveying 18 major centres across Canada they found that the London St. Thomas area had the lowest average price increase from year to year. The national average was an average annual increase of 6.82% while London's average was 4.82%. Not great news if you are real estate speculator and there will be some pundits claiming that real estate is not a good investment, but let's look at what 4.82% per year means. Read more about London and area's real estate market
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428 homes sold in January in the area served by LSTAR (London St.Thomas Association of Realtors) down 9.3% from last year's count of 472.  Average Prices in London were up marginally to $233,073 from $231,020 in December while the average price across the entire jurisdiction is down slightly from $227,056  to $ 223,667. Steady is the word that best describes our local market. View the market graphs
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By Ty Lacroix
(Envelope Real Estate Brokerage Inc)
In the first month of 2011, 428 homes exchanged hands, down 9.3% from the previous year and I personally feel the record snowfall and low temperatures had a lot to do with it. Year Sale    January sales included 347 detached homes (down 8% from the previous year) and 81 condos (down 14.7% from the previous year).    "Average home prices have increased slightly year over year, their increase from one month to the next is far more modest and more fully represents the level and pace of actual appreciation," says the president of our local real estate board. (LSTAR) "If you look at the difference between average price in December 2010 and January 2011, you'll see that we're actually down 1.5%." Compared to the last month of 2010 the average price for a home is down 2.6% and the average pric...
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By Ty Lacroix
(Envelope Real Estate Brokerage Inc)
I was asked to list a house the other day that had been on MLS with another brokerage for 132 days and did not sell. I did my research and felt the asking price was correct and thought to myself, "What is wrong with the place?" After viewing the home, which was in great condition and after meeting the exasperated home owners who are more than affable and motivated, I am pretty sure I know why the home did not sell. The only exposure was MLS No feedback from buyer agents to listing agent to seller Only 3 pictures shown on MLS listing No further promotion, no staging, no farming, basically hang a sign and pray it sells!     By listing with me this home was on 60+ websites, over 30 pictures, 2 virtual tours, all within 3 hours. Here are a few of the sights: 1.   Adicio.com     2.     Agent...
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By Stephanie Bilodeau, Broker
(Red Door Realty Ltd, Brokerage)
East London 3 bedroom Townhouses available for sale. As of Jan. 29, there are 31 Three bedroom townhouses for sale on the MLS system in East London.  They range in price from $99,000 to $234,900. If you are looking for a 3 bedroom townhouse in East London, call me today to set up a viewing appointment.
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By Ty Lacroix
(Envelope Real Estate Brokerage Inc)
Every year I get emails from across Canada & Europe from students who will be going to Western or other faculties near UWO (The University of Western Ontario). They are looking for a decent home that they can live in while attending Western, plus, have some room mates to offset the costs. How about a 6 bedroom house, 5 1/2 years old, all the amenities and a few minutes to Masonville Mall and UWO? For only $349,000 or lease the whole house for only $2100 per month! Do the math, value, income and an upscale neighbourhood!
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By Stephanie Bilodeau, Broker
(Red Door Realty Ltd, Brokerage)
2 Bedroom Townhouses for sale in East London! There are as of Jan. 28th, 4  two bedroom townhouses available for sale on MLS in East London. They range in price from $79,000 to $89, 900. These would make a great starter home for a first time buyer or they could make an investment opportunity being they are near to London's Fanshawe College. For more information on these or any other property in the London area. Please feel free to Email, call or text me.
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By Stephanie Bilodeau, Broker
(Red Door Realty Ltd, Brokerage)
New measures to help Canadian household debt were announced on January 17th. Ottawa is clamping down on the mortgage market with a package of measures to deal with Canadians' record levels of household debt. The adjustments to the mortgage insurance guarantee framework will come into force on March 18, 2011. The withdrawal of government insurance backing on lines of credit secured by homes will come into force on April 18, 2011. The Finance Department new measures are as follows: Reduce the maximum amortization period to 30 years from 35 years for new government-backed insured mortgages with loan-to-value ratios of more than 80 per cent.   Lower the maximum amount Canadians can borrow in refinancing their mortgages to 85 per cent from 90 per cent of the value of their homes.   Withdraw ...
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By No Longer Active
Reviewing 2010 homes sales in White Oaks 2010 is behind us, how was the real estate market in London's White Oaks neighbourhood? Let's start with detached homes. Detached homes 25 years sold at an average price of $190,096 an increase of 5.8% over 2009. Detached homes younger than 25 years old sold at an average of $224,753, up 3.3% compared to 2009. Semi-detached homes. Semi's over 25 years old averaged $150148 compared to $146,979 in 2009. The newer semi's averaged $164,367 an increase of 5.8% over 2009′s results. Sales volumes of single family homes were 127 units in 2010 down marginally from 130 in 2009. Townhouse Condos.  57 townhouse condos sold at an average of $122,840 in 2010 compared to 54 in 2009 averaging $117,831. For a detailed analysis visit White Oaks Reports
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By Ty Lacroix
(Envelope Real Estate Brokerage Inc)
Below is a news release from The Canadian Real Estate Association covering the 3 changes to mortgage rules just announced 20 minutes ago by Ottawa. As you can see, they are reasonable and within our history of sound financial management of trying to control consumer debt! Some may laugh at that last sentence but I for one am thankful that Canada has not faced the economic challenges that many countries face today due to weak governance.   "As anticipated in CREA's recent Call to Action, the government today announced three loan financing changes designed to address concerns about increasing levels of household debt. A link to the government announcement is here. First, the government will reduce the maximum mortgage amortization period from 35 to 30 years. Second, the maximum amount of ...
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By Ty Lacroix
(Envelope Real Estate Brokerage Inc)
This Saturday from 1-3 PM, January 15 there will be an Open House at 1690 Fiddlehead Place in Sunningdale, an upscale neighbourhood in North London. This 6 bedroom house is completed finished from top to botton, is less than 6 years old and built by the well known and oldest builder in London, Sifton. At $355,000 in this neighbourhood, on a quiet cul-de-sac and minutes to Masonville Mall, University of Western Ontario, Fanshawe College, London Health Science Centre (University Hospital) and just 5 minutes to downtown London. See the Virtual Tour and come and visit and have a chat. I know this neighbourhood well and if you are interested in saving money, need I say more? 
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By Ty Lacroix
(Envelope Real Estate Brokerage Inc)
This Sunday, January 16 from 2-4 PM there will be an Open House at 1376 Coronation Drive in Hyde Park, a newer London neighbourhood in North West London.This 2 year old home is finished top to bottom with loads of upgrades and on a 184' deep lot! Hardwood floors, IKEA kitchen, master ensuite, double garage and on and on. See the  virtual tour and all this for $324,900! Ready to move in to and you will love this family neighourhood with great schools, big box stores nearby, play areas, library and only minutes to UWO, downtown London and the quaint village of Hyde Park.  
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By Ty Lacroix
(Envelope Real Estate Brokerage Inc)
Almost all Canadian workers will take home less of their pay cheque in 2011 is the latest news from the Canadian Taxpayers Federation. If you live in Ontario as I do, we will get walloped with higher federal and provincial taxes and may catch a break in London Ontario where our new mayor is promising a freeze on taxes. Starting January 1, 2011, Canadians on average will be forking over on average 2% more of their earnings. Get this quote from a research director at the Federation: "In many cases, it's the low & middle-income earners who'll see the steepest increases." The main culprit according to the CTF is increases in employment insurance and Canada Pension Plan premiums. Does anyone in governments at any level have any knowledge on how to stimulate the economy? Taxes are a must in t...
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By Ty Lacroix
(Envelope Real Estate Brokerage Inc)
Lets List it High Because I Know Someone Will Offer Less There is a right way and a wrong way to sell a home. Here are some of the wrong ways. I Want to List it High Because I Know Someone Will Offer LessWhen a home seller interviews a real estate agent it's easy for them to get caught up in the excitement of choosing a sales price. If they can get more money for the home, it means more financial opportunities for the homeowner. Unfortunately, uninformed sellers often choose the listing agent who tells them they will list it at the highest list price. This is, by far, the worst mistake a seller can make.Establishing Value The reality is that it doesn't matter how much money you think your home is worth. The only person whose opinion really matters is the buyer who is going to make an of...
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LSTAR, the London St.Thomas Association of Realtors, recently released sales statistics for the month of December and the year 2010. The average price for a home in the Association's jurisdiction in 2010 rose 6.3% for detached homes to stand at $240,147, 7.9% for condos to stand at $171,098 , and 6.4% for total residential to stand at $227.056. The average sale price is calculated based on the total dollar volume of all properties sold. However, LSTAR cautions that, while average sale price information can be useful in establishing trends over time, it should not be used as an indicator that specific properties have increased or decreased in value. A common mistake is believing that that average increase applies automatically to your home. Let's take a different look at 2010 and 2009 D...
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By Ty Lacroix
(Envelope Real Estate Brokerage Inc)
This Sunday, January 9, 2011 from 1-3PM there will be an Open House at 900 Pond View Road at Unit 38. This wonderful 3 bedroom townhome is located in a great neighbourhood in London, very quiet and easy access to Highway 401. Where for $158,900 can you get a beautiful 3 bedroom , 1 1/2 bath townhouse with a garage, finished basement, a walkout to a patio and a sundeck & balcony off the living room? Extremely large room sizes and everything has been well maintained. A short walk to a great conservation area. Just pack your toothbrush and if you come on Sunday, I'll give you a toothbrush! If you buy it, I'll even give you 2!
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By Ty Lacroix
(Envelope Real Estate Brokerage Inc)
Uplands  is located in the north end of London and is bounded by Richmond Street to the west, Sunningdale Road to the south, Adelaide Street North to the east and London municipal boundary to the north.        Uplands is a relatively newer area of London with a great cross section of executive style homes, one floor bungalows and a great selection of one floor condo homes, both attached and detached.        Living in Uplands is convenient to major shopping, churches, schools, dining, golf courses and other recreation venues and attractions.       For a complete list of homes or condos for sale in Uplands or other information, feel free to contact me.
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By Ty Lacroix
(Envelope Real Estate Brokerage Inc)
                   Houses & Condos in Pond Mills Numbers For 2010 Houses in Pond Mills  sold quite well in 2010, with 72 houses changing hands at an average asking price of $198,865 while in 2009, there were 73 houses that sold in Pond Mills at an average asking price of $188,250. In both years houses were on the market in London an average 72 days before selling! Condos in Pond Mills had averaged 56 days to sell in 2010. The average selling price for a condo in Pond Mills was $120,8627 while in 2009 it was $125,408. This decrease in condo prices is not indicative of a price drop, it was indicative of what certain condo compexes did sell.   As you can see, Pond Mills has some very attractive prices and for anyone wanting quick access to the 401 or industry in London, this is the place. ...
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By Ty Lacroix
(Envelope Real Estate Brokerage Inc)
Being in real estate and seeing condos daily across London Ontario, you get to know what a great value is and what is overpriced.   Here are 2 condo townhouses that will be very difficult to match regarding price, size, cleanliness, area, safety and true value.   One at 900 Pond View Rd, Unit 38 for only $158,900 has a garage, full basement, huge kitchen, extremely large 3 bedrooms and on and on. The other at 700 Osgoode, Unit 280 is only $132,900. garage, full basement, large room sizes, fenced back yard and more.   If you want a big bang for your buck, these 2 have it!
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By Ty Lacroix
(Envelope Real Estate Brokerage Inc)
2010 Summerside Real Estate Numbers  2 storey and one floor homes in Summerside, in South East London have been quite active in 2010 with 99 houses selling followed by 21 condos while in 2009, 82 houses & 17 condos changed hands The average selling price of a house in Summerside in 2010 was $262,586 being 98 % of the asking price of $266,807 !The average selling price in 2009 was $255,420. Condos in Summerside sold at an average sale price of $214,267 in 2010 which was 98% of the asking price of $219395. 2009 average was 200,247. On average it took about 78 days for a house to sell and for condos, 40 days and nights! If you are looking for a 2 storey houses for sale in Summerside starting from $220,000 - $340,000  there are 11 available and 2 condos for sale starting from $165,900 - $26...
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