Yesterday I had a good chat with an agent in Luton, just a little north of London, England and we were discussing bank sales. When they get a bank sale, they must advertise and promote the property for 14 days minimum, And then, (get this) when and if they get an offer, the offer price must be posted publicly for all to see. Theoretically, the purchaser can get bumped up to the last day of closing! That's right, you can do an inspection, financing and legal and up to the day of close, someone can bump you and the purchaser is SOL. (sh*t out of luck). Good for the lender but not good for the buyer and his or her representative.Without buyer representation, buyers are jumping from agent to agent looking for deals! I explained to him how the process works in Ontario and how I perceive it w... 09/08/2010

Home sales fall again but prices still steady The London St.Thomas Association Of Realtors reported that August home sales  across their jurisdiction were down 16.1% when compared to August 2009. White Oaks Neighbourhood Report Sales of detached homes in the White Oaks are fared similarily by falling approximately 18% while townhouse condos were off by 50% and semi-detached home sales have all but screeched to a halt the last two months.MLS statistics are usually based on averages and your home may not be average. If you are thinking of selling, I would be happy to provide a Free Market Evaluation at your convenience. For a graphical analysis of house sales and condo sales. 09/08/2010

London and Area Home Sales Follow National Trend The London St. Thomas Association of Realtors (LSTAR) reported that August home sales were down 16.1% for our area compared to last August. In fact August makes it the 3rd consecutive month of lower sales volumes than a year ago. Despite the lower sales, prices have, on average, remained strong. Home buyers have a larger selection to choose from without feeling rushed to make a decision, while sellers may have to wait longer to get a sale, at least prices are not falling. This is the making of a balanced market. For a graphical analysis of average home prices year to date and sales volumes visit Market Watch 09/08/2010

Yesterday I spent the day in London England and took the train from Luton to Kings Cross and then the underground or tube as Londoner's call it. Now of all days, there was a work stoppage and the where I wanted to get off was closed and hence, started to walk towards the Tower of London.   I think I have seen more of London than most Londoner's. A fair walk but pleasant in the rain, sunshine, rain, sunshine, you know what I'm trying to say. We also walked back from the Tower Bridge to Kings Cross (Pancras Tube Station), though tiring was wonderful. London is very clean, very polite pedestrians ( drivers, not so) and the architecture and culture is worth seeing. 09/07/2010

Yesterday I visited some of the Roman baths in Bath just south of London England. As well, walking the city and looking at homes that have stood the test of time over 5 or more generations.Yes they have been upgraded with modern conveniences but the structure itself (the bones) still stand the test of time. Maybe we all could learn a thing or two about quality and style. 09/05/2010

I am sitting at gate 177 in the Toronto International Airport awaiting a 2 1/2 week trip to Britain and Northern Ireland. Through contacts I will be meeting a few real estate people in 7 different offices in these 2 weeks. Some I have been referred to or some who referred clients to me. If anybody from Revenue Canada (our IRS for my American friends) is reading this, yes, this is a business trip (part of the day anyway) Yes I will be golfing, sightseeing and perhaps bending an elbow or two drinking amber lemonade but business can be stressful and a guy does need to take a break. I plan to write about parts of this trip that are family rated, anything else you may have to guess!   09/03/2010

Houses in Sunningdale, a neighbourhood in North London and close to UWO & Masonville , were sought after with 33 sales since January  and with 15 condos selling as well. The average sale price for a home in Sunningdale which took 28 days to sell was $531,009 which was 97% of the asking price of $545,147 and for condos in Sunningdale, the average sale price was $274,643 which was 98% of the asking price of $279,685 and were on the market an average of 40 days. At present there are 10 resale houses for sale in Sunningdale starting as low as $429,900 to over 1.5 million. As well, there are 7 brand new homes in the finishing stages available. There are 5 condos available, 1 for lease and 2 for sale, starting from $229,900. When you require information about Sunningdale, be it the amenities,... 09/02/2010

Houses in Lambeth, a neighbourhood in South West London have received a lot of activity in the period from January 1, 2010 to September 1, 2010.Present listings vary from as low as $194,000 up to $569,000 which really explains the diversity of Lambeth and basically two neighbourhoods, one in 'downtown Lambeth' and the other what I call the Outer Drive neighbourhood. 84 houses in Lambeth sold with the average being on the market for 43 days and selling for $373,416 which was 98% of the asking price. If you would like a synopsis of a particular neighbourhood or street in Lambeth or London I can put that information together for you to show you that facts and preparedness do wonders when thinking about buying or selling real estate.   09/02/2010

Re-sale houses and condos have remained strong in so far this year in Hyde Park and at September 1 , 197 houses sold with the average selling price being 99% of asking which was $252,044 and an average of 38 days on the market! For condos, 54 sold at an average $169,498 and were on the market for 54 days. With some great shopping, new schools being built, commercial and light industrial spaces available, people are finding Hyde Park to be quite attractive. There also is a wide array of new homes being built starting from $260,000 and up. 09/02/2010

Masonville area homes and condos along with the Stoneybrook & Uplands neighbourhood sales have been quite active  with 98 sales at 97% of the asking price of $411,449and only 30 days on the market! There were 92 condos in Masonville, North London that sold at an average price of $243, 946which was 98% of the asking price. These condos were on the market on average for less than 34 days. This area remains one of the hottest markets in London and especially at this time of the year with UWO grads going and new coming to London. Condos from $119,000 to $369,000 and with houses from $279,000 and up make Masonville & Stoneybrook  a good market because of amenities and location. This area remains one of the fastest growing areas of London with a wide mix of styles available. 09/01/2010

Houses in Old South and Wortley Village neighbourhood that were listed for sale are selling briskly! 150 have sold from January 2010 to Sept 1, 2010 and on average homes were on the market for 24 days and averaging 99% of asking price which was $250,098!    At present there are 42 resale houses in Old South/Wortley Village listed for sale from as low as $181,000 up to $800,000 +. Because of the ambience and ecletic range of homes you can see why this is a sought after London Ontario neighbourhood! Taking a drive through Wortley Village and Old South is worth the trip and if you are not the cookie-cutter type, you will love Old South London. 09/01/2010

If you are like me, when I want to call someone at London City Hall or the London Library or garbage pick up date, I scramble to find the phone number, or wait to turn on the computer and get the number. Below is a list that I felt you may want to know: Civic Contacts      Community Information        Animal Control                                                        519-685-1330 Building Permits                                                      519-661-4555 Chamber of Commerce                                            519-432-7551 Crime Stoppers                                                        519-661-8477 Fire Department                                                       519-661-4565 Garbage                                                                    519-661-548... 08/31/2010

A survey of potential first-time homebuyers found that 29 per cent between the ages of 21 and 34 are living with their parents while saving for their home down payment. While it is no surprise that those under the age of 30 are staying home longer, whether to attend school or save for a home purchase, what is surprising is the number of adults in the 31 to 34 years old category who are also still at home! The survey found a considerable gap between potential first-time buyers' expectations and their realities when it came to planning and saving to buy a home. "We found that, although most young people would like to purchase a home within the next few years, most do not have a practical plan to get there."   According to the survey, adults between the ages 21 and 34, on average, have bee... 08/31/2010

So you just got your license to sell real estate and are raring to go. Or you are looking for a new start with another company. I feel the first 60 days are very critical for long term success as the habits that are required to be sucessful in real estate will either start in this period, you will form new habits or break old habits.Who you go to for advice and what you do in these first 60 days are the most important. The question is, do you know what good or bad advice is? Sure, you will take advice that is consistent with your comfort zone but that may not be the best choice. Or the one that takes as little money as possible to implement. Or you will max your credit card 'getting your name out there'. Or, do stuff that worked 5 years ago, 10 years ago or when everyone was employed an... 08/28/2010

Daily I am bombarded with questions from agents and clients and it is always great to help with a solution or answer. There are times, however, when I have to shrug and say "I don't know".Why do we press harder on a remote control when we know the batteries are getting dead? Why doesn't Tarzan have a beard? Why do people keep running over a string a dozen times with their vacuum cleaner, then reach down, pick it up, examine it, then put it down to give the vacuum one more chance? Why is it that no plastic bag will open from the end on your first try? Why do they use sterilized needles for death by lethal injection? So that's it for this week and if you have a question that requires an answer and I don't know, I'll do my best to get you one and if I can't , I'll blog about it!   08/28/2010

I was helping an agent in my office today with her frustrations in dealing with a couple who were getting advice from a multitude of sources. In the end, her transaction fell through and the young buyers are so confused, discouraged and scared that they will put off purchasing soon. To disguise this couple and my agent here are some comments I have heard from both buyers and sellers: Always go in with your first offer at least 25% less than asking. ( When asked, this father last purchased a home in 1974 and "That's what everyone does!". We want some wiggle room in our price of our house, so lets increase the price by $20,000 so we can negotiate. No one offers a real price the first time. (When asked, this defense lawyer who does not practice real estate law says that everyone does! Hmmm... 08/26/2010

Who came up with the name "traffic calming"? The so called traffic calming measures have been in place in White Oaks for a few months now and I couldn't help but wonder if they are having their desired effect. Camera in hand, I checked a few out.             Beware of the yellow line This is my favourite.   Apparently the guy painting the yellow line didn't see the road modification. No signs of spilled paint, so I don't think he hit the curb. Someone hit the curb here. Looks like tire marks Sometimes you need a double dose of traffic calming! When one bump out isn't enough This winter if you hear things going bump in the night, it is probably the snow plow. Wouldn't it be easier if we all slowed down and drove a little more careful. 08/25/2010

     Masonville area homes and condos along with the Stoneybrook & Uplands neighbourhood sales have been quite active  with 97 sales at 97% of the asking price of $411,449and only 30 days on the market! There were 89 condos in Masonville, North London that sold at an average price of $243, 946which was 98% of the asking price. These condos were on the market on average for less than 33 days. This area remains one of the hottest markets in London and especially at this time of the year with UWO grads going and new coming to London. Condos from $119,000 to $369,000 and with houses from $279,000 and up make Masonville & Stoneybrook  a good market because of amenities and location. If you require more information on specific styles or price range in London, I know the area and price ranges.   08/25/2010

Houses in Oakridge, Oakridge Acres, Oakridge Meadows & Oakridge Park have sold quite well so far this year with 151 selling on average for $296,486 which was 99% of the asking price and on average a house was on the market for 33 days . 63 condos have sold in the Oakridge Neighbourhood at an average selling price of $201,557 and these condos were on the market an average 60 days and sold for 99% of the asking price. Most homes in Oakridge have large lots, tree lined wide streets so if you are looking for large backyards and space, Oakridge may be for you. A little bit of energy, money and smart renos can make Oakridge an inexpensive neighbourhood to live in. Don't forget about having one of the highest ratings for schools, neighbourhood activities and easy access to any place in London.... 08/25/2010

Where you live in Canada can make a difference in what you pay the tax man or in some provinces , tax woman. If you make $70,000 in income, British Columbia may be the place because you would pay a combined federal and provincial tax of $15,000, Ontario at $15,492 and Alberta with $16,292 If you make over $150,000 a year, Alberta is the place Ontario has generous tax incentives Alberta has the lowest general corporate tax rate with a combined provincial and federal tax rate of 28%. If you are having trouble going to sleep, you can read the full report prepared by PricewaterhouseCoopers' annual Tax Fact and Figures guide. Go to http://www.pwc.com/ca,taxfacts   08/24/2010