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London, ON Real Estate News

By Dan & Rachael Polakovic with The Team, London Ontario Real Estate Professionals
(Realty Executives Elite Ltd Brokerage)
With the approval in Canada of H1N1 vaccine and the imminent launch of mass vaccination efforts in the provinces and territories, Canadians may have questions. Here are some answers:   Q: How many shots of H1N1 vaccine will I need?   A: Anyone 10 and older needs only one shot.   Q: How many will my children need?   A: Children six months to nine years need two half-dose shots, given at least 21 days apart. Infants under six months of age cannot be vaccinated.   Q: I don't like needles and I see in the U.S. that people are getting a vaccine that is sprayed up their nostrils. Can I get the nasal spray vaccine in Canada?   A: No. The company that makes that vaccine, MedImmune, only recently applied for a licence to sell their seasonal flu vaccine in Canada. That application is still in the...
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By Ty Lacroix
(Envelope Real Estate Brokerage Inc)
The Ability to Sell Any Home Rests On the Three P's, and they are: Price, Product and Promotion. The seller usually has control over the price. The seller eventually decides what price he or she will accept for their home. The seller definitely has control of the product (the property). The seller controls the neatness, cleanliness and general maintenance of the property while being listed.  The REALTOR* has control of the promotion. Missing one of the 3 P's can be quite harmful. If the home is overpriced, it won't matter what kind of promotion the REALTOR* does or the show ability of the property. If the home is priced and marketed correctly, it won't help if the condition of the home is poor or and does not show well. If the home shows and is priced well but does not get promoted pro...
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By Ty Lacroix
(Envelope Real Estate Brokerage Inc)
Activity on 2 Storey Homes in North London ‘What are 2 storey homes selling for in North London' is a question I get asked weekly. Trying to compare apples with oranges may be simpler, but here is a formula that I use which then would enable me to break it down by specific neighbourhood, then street, then house, then amenities. The average 2 storey house in North London sold for 98% of the asking price of $313,077 and the average time it took to sell a North London 2 storey house was 50 days! A breakdown of neighbourhoods is as follows: • Sunningdale 41 days on market & sold for 97% of asking price of $461,075 • Stoneybrook Heights, Uplands 49 days on the market & sold for 97% of the asking price of $371,994. • Stoneybrook Acres, Windermere 38 days on the market & sold for 97% of the as...
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By Ty Lacroix
(Envelope Real Estate Brokerage Inc)
What is the Action on Condos in London, Ontario  What are condos selling for in London, Ontario? As I write this on October 19, 2009, I see that the condo market is doing quite well in London.   The average days it took for a condo to sell in London up to September 2009 and the days on the market for October has shown an improvement of about 7 days. In North London January 1, 2009 to Sept 30, 2009 47 days. October 1-19 42 days In South London    "                  "             "             "      51 days                "         44 days In East London       "                  "             "             "      46 days                "         39 days              In North London, condos sold for 98% of the asking price. In South London it was 97% and in East London it was 96%. What do...
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By Ty Lacroix
(Envelope Real Estate Brokerage Inc)
                                A great way to prepare your home for sale is to go visit a few new home sub-divisions and go through the model homes. It doesn't matter what size the homes are. What you will find are some wonderfully (but sparsely) furnished homes that anyone could live in- with the emphasis on "anyone". They are anonymous. There may be a hockey stick in the boy's room, but no family photos on the wall.      There may be "personality" - but no person.      The reason you want to make your home "anonymous" is because you want buyers to view it as their potential home. When a potential home buyer sees your family photos hanging on the wall, it puts your own brand on the home and momentarily shatters their illusions about living in the house themselves.         Put away fam...
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By Ty Lacroix
(Envelope Real Estate Brokerage Inc)
Avoid These 81/2 Buyer Traps When Buying Real Estate Part 2  In part 1, we covered, bidding without sufficient information, buying the wrong home and unclear title. Lets' cover the rest:  Inaccurate Survey  Before the purchase is completed, a survey or title insurance should be a must. Most lenders will not issue a mortgage without a survey or title insurance. Again, a good REALTOR* will have a clause in the offer to protect you and make sure you discuss this with your lawyer. Unexpected repairs   Don't expect every seller to disclose every physical detail that will need to be attended to. Use a professional home inspector to conduct a thorough inspection of the home, before you close the deal. A good REALTOR* will enclose a home inspection clause in the offer and only if the inspection...
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By Dan & Rachael Polakovic with The Team, London Ontario Real Estate Professionals
(Realty Executives Elite Ltd Brokerage)
Canada's Economic Action Plan   Canada's Economic Action Plan's Home Renovation Tax Credit could help you save up to $1350 on home improvements purchased before February 2010. The Home Renovation Tax Credit is a federal non-refundable tax credit based on eligible expenses for improvements to your house,condo,or cottage exceeding $1000.00 but no more then $10,000. Be sure to get your contracts in writing, keep your receipts and claim the credit on your 2009 income tax return. Eligible expenses must be of an enduring nature and integral to your property. Examples of Eligible expenses: *Renovating a kitchen, bathroom or basement * New windows,doors and flooring * Building an addition, garage, deck, shed or fence * A new furnace,woodstove,fireplace,water softener or water heater * A new dri...
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By Ty Lacroix
(Envelope Real Estate Brokerage Inc)
                                              Has the trading of real estate changed over the years either than the prices? Considering the internet, cell phones, faxes and virtual offices, I'm sure we all agree it has.  Real estate however is still a personal business, a face to face meeting and mutual agreement of 2 parties to purchase and sell a property. That being said, let's overhear a conversation about changes.  One evening a grandson was talking to his grandfather about current events. The grandson asked his grandfather what he thought about the shootings at schools, the computer age, and just things in general. The Grandfather replied,  'Well, let me think a minute, I was born before: Television, penicillin, polio shots, frozen foods, Xerox contact lenses 'Frisbees and the pil...
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By Dan & Rachael Polakovic with The Team, London Ontario Real Estate Professionals
(Realty Executives Elite Ltd Brokerage)
Homeowner's Halloween Horrors? Not if you follow these Safety Tips As Halloween creakingly creeps around the cobwebbed-corner, many of our thoughts will be on decorating, pumpkin-carving and costume-making. But, before the parade of ghosts and witches comes knocking on your door, here's a helpful list of things that you can do to keep your home and yard safe for all those anxious trick-or-treaters. Clear your yard of ladders, hoses, leashes, flower pots, low tree limbs, support wires and anything that could cause someone to trip. Be sure to keep your outdoor steps, porch and walkways well-lit. Use battery-powered jack o'lantern candles instead of a real flame. If you do use candles, keep them away from where trick-or-treaters will be walking or standing. Dried flowers, cornstalks and c...
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By Ty Lacroix
(Envelope Real Estate Brokerage Inc)
Avoid These 81/2 Buyer Traps When Buying Real Estate Part 1  Shopping for a home is an emotional experience. It's also time consuming and comes with a myriad of details. Some buyers, (and their agents), however, caught up in the excitement of buying a home tend to overlook some items. Their home purchase then turns into an expensive process! These errors generally fall into three areas: Paying too much Losing a dream home to another buyer Buying the wrong home  When you have a systematic plan before you shop, you'll be sure to avoid these costly errors. Here are some tips on making the most of your home purchase. Bidding without sufficient information  What price do you offer a seller? Is the seller's asking price too high? Is it a deal? Without research on the market and comparable hom...
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By Ty Lacroix
(Envelope Real Estate Brokerage Inc)
Think like a Buyer When Selling Your Home   Of all the things homeowners control when selling their home, the condition of the property is one of the most important. A crucial part of marketing any product is the presentation of the product. The same is true for real estate. In order to compete effectively with other sellers, homeowners must present their homes to the marketplace in an attractive, desirable condition. When you bought your home, you probably comparison-shopped. Well, buyers still do that today. According to The National Association of Realtors, the average purchaser looks at 10 to 20 properties prior to purchasing a home. THINK LIKE A BUYER!    You are not just selling a house. You are selling shelter, a lifestyle and dreams. Buyers arriving at your front door want to fi...
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By Dan & Rachael Polakovic with The Team, London Ontario Real Estate Professionals
(Realty Executives Elite Ltd Brokerage)
Every year you vow you won't over cook. You won't leave yourself with so many left overs your fridge seems to be busting at the seams. Yet somehow, it always seems to happen. Instead of letting all of the remaining of the fixin's go to waste why not try a few of these receipes and enjoy a week's worth of effortless meals for your family to enjoy! And I guarantee they won't say "OH NO NOT TURKEY AGAIN!!" Happy Thanksgiving to you all!! Dan and Rachael Polakovic Realty Executives Elite Ltd Brokerage London Ontario www.two-realtors.com   Slow Cooker Smoked Turkey and Noodle Soup Servings: 8 to 10 Ingredients: Nutritional Info Per each of 10 servings: about - cal 108 pro 10 g total fat 2 g sat. fat 1 g carb 13 g fibre 2 g chol 23 mg sodium 266 mg % RDI: - calcium 3% iron 10% vit A 36% vit C...
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The most important time for a new listing is when it first goes on the market. When buyers and their agents are searching the Internet and neighbourhoods for something new. When excitement is the highest  What really can happen? For a variety of reasons, the listing agent can make it difficult to show the house. Usually, it is a lack of attention to detail and not a lack of deliberate sabotage. Many agents do not feel a sense of urgency because they know that the house will sell eventually.  Sellers don't usually have any idea that this is happening. They also don't know that potential buyers and their agents are often frustrated and angry by the time they have finally gotten to view the property. •    The sign goes up, but the listing agent has not turned the listing in to the office s...
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By Ty Lacroix
(Envelope Real Estate Brokerage Inc)
When Your Selling Price Is Too High, Beware: REALTORS* Talk To Each Other Part 2 of Beware When Setting Your Selling Price of Your Home                                                                                                              If you start out with a price that is too high, there is likelihood you interviewed other real estate sales representatives. They did not get the listing, of course. They got "beaten" out by someone telling you what you wanted to hear. If your listing representative routinely engages in "buying "listings, he/she has probably has done this to other agents in the same way. Word gets around that their homes are overpriced and the home seller has an inflated value in mind. This can be very difficult to resolve.   In short, you may have ended up with ...
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By Ty Lacroix
(Envelope Real Estate Brokerage Inc)
          Is Buying a Home in London Ontario a Good Investment?  As a fairly general rule, London homes and condos appreciate about four or five percent a year. Some years will be more, some less. The figure will vary from neighbourhood to neighbourhood, and region to region. For example, a 2 storey home in Sunningdale may appreciate more than a 2 storey home in Oakridge.          Five percent may not seem like much at first. Stocks (at times) appreciate much more, and you could easily earn over the same return with a very safe investment in treasury bills or bonds.    But, take a second look ...        Presumably, if you bought a $200,000 house in London, you did not pay cash for the home. You got a mortgage and lets say you put as much as 20% down, that would be an investment of $40,0...
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By Ty Lacroix
(Envelope Real Estate Brokerage Inc)
Every day I get asked:"When is the best time to buy or sell a 2 storey home in London"? After getting as much information as possible about client's needs and wants, it all comes down to price and amenities.              For obvious reasons, sellers of 2 storey homes in London want the higest price as possible and for buyers, they want to buy at the lowest price they can. As a real estate broker, regardless of my market anaylsis of a particular home, reality is still the best indicator of the market place.     In London Ontario from October 2008 to October 2009, the average price of a 2 storey home in London was $309,691, up 9.2% from the 2008 average of $283,503. In North London, 634 2 storey houses sold including the neighbourhoods of Masonville, Sunningdale, Hyde Park, Stoneybrook  w...
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By Ty Lacroix
(Envelope Real Estate Brokerage Inc)
The real estate market in London and area is not the same as it was 6 months ago and it will definitely be a lot different in the next 3-6 months from now!  Even though London home sales in September were the third best on record; there are 2 indicators of change that is going to come.  First, the average days on the market in the London area was 28 days compared with 47 days 3 months ago and secondly, homes and condos are selling for 96-98% of asking compared to 92-94% of asking price back in May and June!  Why? There are 10-11% less homes and condos for sale which now creates a balanced market, neither a buyers or sellers market which in turn keeps prices in check. The major banks forecast that interest rates will remain steady and perhaps increase slightly towards the end of 2009. Th...
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By Ty Lacroix
(Envelope Real Estate Brokerage Inc)
In September, 708 homes exchanged hands in the London & St.Thomas area. 572 of those were detached homes and 136 condos. For the year, 5,190 detached homes have sold in the London and St.Thomas area & 1,205 condos sold. The average residential price for London homes has increased by 1.9% with a 4.5% decrease in price for St.Thomas homes. “National sales activity in the third quarter is on track for a significant increase compared to the second quarter,” says Canadian Real Estate Association (CREA) President, Dale Ripplinger. “Low interest rates and affordability continue to attract homebuyers to the housing market. Consumer confidence continues to rise, which bodes well for activity in the coming months.” “The balance of sentiment making big-ticket purchases pushed into positive territo...
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By Dan & Rachael Polakovic with The Team, London Ontario Real Estate Professionals
(Realty Executives Elite Ltd Brokerage)
Halloween Safety There's No Trick To It! The observance of Halloween, which dates back to Celtic rituals thousands of years ago, has long been associated with images of witches, ghosts, devils and goblins. Over the years, Halloween customs and rituals have changed dramatically. Today, many of the young and young-at-heart take a more light-spirited approach. Glowing skeletons and lighted Jack O' Lanterns decorate homes, while children dressed in all kinds of costumes begin flocking out onto neighborhood streets in search of treats. Make this year's holiday extra safe by following these safety tips on costumes, treats, decorations and more! Costumes When purchasing costumes, masks, beards and wigs, look for flame-resistant fabrics such as nylon or polyester, or look for the label "Flame R...
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By Dan & Rachael Polakovic with The Team, London Ontario Real Estate Professionals
(Realty Executives Elite Ltd Brokerage)
This business is full of it's ups and downs. One day you can be so busy you barely have time to breath let alone rest or eat. Then the next all is quiet. And you wonder if something has happened to your phone.                                                                 After a whirlwind of a summer we have found ourselves in a bit of a quiet spell. So here we are BACK TO BASICS. It's time to take advantage of some of this down time while it lasts. Now's a good time to do some research. Head out to the library or bookstore and grab a few books on topics you have been hearing about. Learn more about things that are going on in the market around you or different strategies to improve your business. I have been trying my best recently to learn as much as I can about the new Social Media...
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