12 Tips To Sell Your London Ontario Condo

Even though houses in London Ontario are selling quite well,  36% of London Ontario condos and houses listed in the London area take over 60 days to sell or not sell at all!

To maximize your home’s selling price there are steps you can take to ensure that your home sells quicker, reducing stress and maintaining some control of one of your largest financial decisions in your lifetime.

Home not selling

Keep the reason you are selling to yourself and your Realtor.

Do not reveal your motivation for selling to anyone else because they may use it against you at the negotiating table. When asked, just say that your housing needs have changed.

Different goals will dictate different strategies.

What is more important to you: the money you walk away with or the length of time your property is on the market or both?

3 Do your homework before setting a price.

The average buyer will look at 15-20 homes at the same time they are looking at yours. That buyer will now have a basis of comparison, and if your home does not compare favorably with others in the price range, your home may sit on the market for a longer time.

More Homework.

 (A good Realtor should do this for you) Find out what homes in your neighbourhood have sold for in the last 6-12 months, and research what current homes are listed for. That is how a prospective buyers and their Realtor will assess the worth of your home.

Maximize your home’s sales potential.

You may not be able to change your home’s location or floor plan, but you can do a lot to improve its appearance. The look and feel of your home generates a greater emotional response than any other factor.

101 Ways To Sell Your House in London Ontario

Deciding upon a Realtor

You and your Realtor are partners in marketing your home. Choose carefully and wisely.

Make it easy for buyers to get information on your home.

Buyers calling for information on your home value their time as much as you do. They also do not want to be hassled or frustrated because they cannot get a hold of the listing Realtor or some of the information is incorrect.

Do not move before you sell.

Studies have shown that it is more difficult to sell a home that is vacant because it looks forlorn, forgotten and simply not appealing. As well, buyers may think because it is empty, you are motivated to sell fast and for a lower dollar.

Deadlines create a serious disadvantage.

Don’t try to sell by a certain date. This adds unnecessary pressure and is a serious disadvantage in negotiations.

10 Keep emotions in check.

Do not be offended by a low offer or certain demands from the buyer. A good listing salesperson can turn these negatives into a positive situation.

11 Be a smart seller- disclose everything.

Be proactive, by disclosing any problems or defects you are giving the buyer confidence that you are not hiding anything.

12 Make sure the contract is complete.

Ensure that all terms, conditions and responsibilities are spelled out in the offer and that you fully understand them.

.do not sign anything without checking first

All the above steps , though simple and easy to do, are not often done, perhaps because they are so simple and easy to do.

From experience, my clients have commented that thoroughness in getting their house sold and the systems I use were outstanding! (Their words, not mine!)

 Would you like to discuss how to maximize the price of your home?

How Not To Overpay When Buying a Condo in London Ontario

How do you, a buyer of a condo in London Ontario, able to act quickly when the condo you like either has multiple offers or the threat of one?

Yes, the condo market in London Ontario is heated as these April statistics say it all.

Being prepared ahead of time is one thing you could do, the other is what I call market education. That means knowing what is on the market as far as styles, prices, neighbourhoods go. What will happen is that once you grasp what the condo market is doing, you can make a decision based on facts and not fear of loss or impulse!

Do not be lulled into complacency as the results can be you overpaying or choosing the wrong condo in London Ontario!

Apartment Condo For Sale London Ontario

apartment condo for sale London Ontario

570 William St #305

Inexpensive living at this apartment condo for sale in London Ontario, 2 bedrooms, 1 bathroom, balcony, 6 appliances and furnished, all for only $162,900!

•  MLS® #595373

– You can buy this furnished two bedroom condo apartment in sought after historic Woodfield District in central London Ontario.

Quality beautiful hardwood floors in the living and dining rooms & ceramic in the kitchen, hallway and bathroom. A nice size south facing private balcony. You’ll love the beautiful working kitchen with dark cabinets and modern counter tops, there are 6 appliances included.

The bedrooms are bright with good sized closets & crown moulding throughout, tastefully decorated & ensuite laundry.

Situated in a historic, prime location, minutes from Victoria Park, the popular dining & shopping district of Richmond Row, Western University and St.Joes.

The water is included in the low condo fee of $343.41 and the taxes are only $2098 making this an inexpensive living experience.

This is a well-managed building with security and parking.

Move in ready & could be a great investment property for wise investors.

Property information

2 Bedroom Condo For Sale London Ontario $119,900

2 bedroom condo for sale London Ontario $119,900 Move in Condition

•  1 bath, 2 bdrm single story – $119,900 CAD. Excellent Value
MLS® #594664

– A beautiful updated 2 bedroom Mills Landing condo apartment in a well maintained & managed property.

Freshly decorated in neutral tones, new kitchen and bathroom in November 2016, ceramic floors in kitchen & bathroom, laminate in living/dining room & hallways. Lovely gas fireplace for economical heat and comfort in the living room and patio doors to the balcony.

6 appliances and window coverings are included with easy access to Veterans Memorial Parkway, shopping and on a bus route.Condo fees include water.

A great salt water pool is on the grounds and an exercise centre in the building across. This is in move in condition and a please to view.

Property information

My Top Picks London Ontario Condos

My Top Picks London Ontario Condos may be helpful to you as I have shown buyers 736 condo apartments, townhouses and town homes in 2016. 

If you are finding it confusing searching MLS, newspapers and magazines or agent websites for a condo in London Ontario, I do too sometimes!

Top picks London Ontario Condos

Knowing the price, styles, location and amenities that every condo apartment or town home or townhouse complex has in London can be daunting and my goal when working with a buyer  is to first educate you, the buyer, about what is available, then assist you in narrowing down the search and then offer you  guidance and my experience & negotiating skills to get you the property that fits.

In London at present there are these apartment condos for sale in London Ontario:

  • 23 from $71,900-$99,900
  • 41  from $100,000 – $150,000
  • 33 from $150,000 – $200,000
  • 31 from $200,000 – $275,000
  • 18 over $275,000

Townhouse Condos that are currently for sale:

  • 6 from $71,000 to $99,900
  • 27 from $100,000 to $150,000
  • 31  from $150,000 – $200,000
  • 58  from $200,000 – $275,000
  • 66  from $275,000 – $350,000
  • 22 from $350,000 – $450,000
  • 37 over $450,000
 Apartment Condos For Sale in London  (My Picks)
Bedrooms Bathrooms Price Description
2 1 $114,500 1000 square feet Plus, bus route UWO
2 2 $137,000 insuite laundry, freshly painted
2 1+1 $163,900 Downtown, hardwood, fireplace, 5 appliances
2 1+1 $197,000 5 appliances, pool, underground parking
2 2 $249,900 9′ ceilings, hardwood, ceramic, master ensuite
2 2 $279,900 Luxury, green space, underground parking
2+1 2 $389,000 Downtown, luxurious, spacious
2 2 $449,000 1850 square feet +, a wow factor
2 2+1 $678,000 Great View
 Townhouse Condos For Sale in London (My Picks)
Bedrooms Bathrooms Price Description
3 1+1 $119,900 Forced air, finished basement
3 2 $147,900 Finished Basement, Patio, 5 appliances
3 2 $169,900 Master ensuite, garage, bus route UWO
4 2+1 $199,000 ,garage, finished basement, large rooms
3 2+1 $249,000 Walk to UWO, garage
2+1 2+1 $279,000 one floor, double garage, finished basement
3 2+1 $369,900 one floor, detached, double garage, finished basement
3 3 $431,000 End unit, park like setting, one floor, double garage
3 3+1 $469,900 Exclusive area, 3500 square feet +, double garage

So, looking for a condo in London Ontario that is right for you should not be guess work or by luck. I know condos, where they are, the best locations, the better built ones,  the better managed ones, the best values, the safest ones, and buildings or complexes to stay away from.

Because of the volume of business I do, I also from time to time have listings that are not on MLS, it could be because they are doing last minute touch ups or my client knows I have many active buyers ready to buy if the right condo becomes available.

1030 Coronation Drive London Ontario

1030 Coronation Drive is another fine, quality built 182 unit condo apartment building built by Tricar and is in the Hyde Park neighbourhood in North West London Ontario.

Easy access to the University of Western Ontario and downtown London, 2 minutes to the big box stores, restaurants, banks and service providers.

In 2016, there were 20 sales, averaging $258,677 and they took about 61 days to sell which is above the average days on the market in London Ontario. I have researched the 20 units and of those, 17 could either have been marketed better or priced more aggressively.

In 2015 on our MLS system, there were 13 sales, from $245,000 to $285,000 excluding the penthouse suite that sold!

The condo fees include heat, water and air conditioning, there is underground parking, lockers available, an exercise room if you don’t want to use the stairs and a media room to fall asleep if you do use the stairs!

Google Map

Search for 1030 Coronation Drive N6G 5P6

1030 Coronation Drive

1030 Coronation Drive, a complex to relax in

What is the London Ontario Condo Market Like?

What is the London Ontario condo market like now and going forward into the new year? I don’t know about the future, but I can share with you some facts.

London Ontario Condo Market

First off, 1695 condominiums have sold in London Ontario from January 1, 2016 to December 2, 2016 and on average, they took 44 days to sell and received 98.2% of the asking price.

Secondly, there are condo neighbourhoods in London where condos were on the market and sold within 3-5 days, and then there are those that were on the market longer than 90 days. It would seem obvious why some sell quicker than others.

Is it price, style, condition, location, marketing or the colour of the front door or because the moon and stars are not aligned? I don’t know about the last one but I can definitely say price, condition and marketing are why some sell quicker and for money and why some do not.

 I know which complexes, neighbourhoods and condo styles sell quicker than others and more importantly, the best values out there because I am in the market 6-7 days a week and I make it a point to know the market and not guess at it!

With the better condos in London selling for 99.2% or more of asking price, there are still units that can be had for 90 95% of the asking price.

Now the question is, are you a seller or a buyer? Both of you may want to know factual numbers and not opinions from your neighbours, your hair dresser or Uncle Bob who knows someone who knows someone  who was in real estate 7 years ago! (Seriously, I had a couple who took Uncle Bob’s advice! They now have gone through 3 different real estate representatives and their condo is still not sold! What a tragedy.)

As a buyer, knowing the difference between market price and the value price are two separate numbers, or I could add another value, the emotional perceptual value.

So, what is the condo market in London like and what will it be like next years?  For the wise who are willing to listen and take professional advice, very good, for the rest, not good!

Buying a condo in London Ontario should not be guesswork!

Overpriced London Ontario Condos?

Three weeks ago I worked with a couple who were looking for a detached quality one floor condo in London Ontario, either in the north or south end of London. They did not want brand new so that eliminated 21 new builds or to be built leaving 16 to choose from and 6 of them, overpriced London Ontario condos!

         overpriced London Ontario CONDOS?

Doing research , I had found out that  47 similar detached condos in London Ontario had sold at an average asking price of $350,000 and the ones available for sale were in this price range.

With the average days on the market being 46 days and 16 available, that indicated to me and my clients that if we offered a fair price and a quick close, both my clients and the home seller should be happy.

  Unfortunately or fortunately, depending on whose side you are on, when I indicated that my client’s were interested in bringing an offer, it was suggested to me that to get the offer in quickly and be close to asking price because there was lots of activity.

Yeah Right!

Even though these condos were overpriced, (3 of them in the $375,000 range) and on the market longer than the norm!

  My clients were of the same opinion as myself, they were able and ready buyers and eventually we found a seller and their sales person who were able and serious about selling!

  When a condo is for sale in London, there is competition and it should behoove the seller to know what that competition is and how their home stacks up. Buyers know because they are actually seeing units similar to yours and if your price and condition is not in line, you are helping the other condo owners sell their unit!

Note:  2 of those 3 condos did sell, but $20,000 less for one and $27,500 for the other and the 3rd condo,is still for sale!

Why Some Apartment Condos in London Ontario Take Longer to Sell

I should warn you before you read anymore that the comments I am going to make about why some apartment condos in London Ontario take longer to sell are out of frustration and exasperation and are no means to imply that the events that occurred will happen again. (Can pigs fly?)

Frustrated in London

My clients were interested in downsizing from their 2 storey home and were interested in seeing 2 bedroom units in this particular building all within $25,000 of each other in price. From $197,500 to $225,000.

We chose a Thursday for the viewings and so on Tuesday morning I proceeded to make arrangements for showings. Because we were interested in only this building, there were 6 listed for sale.

One agent replied within an hour that the time scheduled would be fine, another two replied the next morning and one in the afternoon that it was ok to show the units. As I had not heard from the other two, I called their offices and used our appointment scheduler called Touchbase. One called back right away and said she was sorry, she forgot to confirm.

The other agent I never ever did hear from, even after 3 attempts and I see, 2 weeks later, this condo is still listed for sale.

The evening before the scheduled showings, I did some homework. I pulled up everything that was sold in the building over the last 2 years, called a past client (who had purchased from me years ago) in the building and asked how happy she was, any complaints, how was the property manager, how solid the condo corporation was and other pertinent questions that would enable me to inform my clients on the condo culture of this building.

I pulled up the current taxes from the city for the units and only 1 out of 6 were accurate as per what was shown on the listing data form! I don’t mean by a few dollars, in one case $1732.00 difference!

The condo fees shown for all 6 units had a difference of $131.16! How can that be? Subsequently checking on things and talking to the Property Manager, the difference in fees were about $7.00 per floor! Only one condo unit had the accurate current condo fee.

Fair is fair, I thought, mistakes happen and I will be putting in clauses if my client does decide to put an offer in to verify all condo fees, taxes and any other discrepancies.

wrong key

On the day of the showings, I meet my clients in the lobby where lock boxes are that hold the keys for entrance to the building and individual units. My day is not starting out well, there are 9 lock boxes and only one is identified with the unit number? Opening up a few, there were some keys tagged with the unit # but some weren’t! My male client thought this was funny or was laughing at me because I only have 4 pockets on my pants and could only keep track of 4; he had 4 pockets as well so he helped!

A couple of the units we saw were as per the listing data, appliances, room sizes and amenities, one unit was a disgrace, one unit the occupant would not let us in (nobody told me you were coming, she said) and 2 units were out to lunch in price.

So now we get back down to the lobby, play Russian roulette with the keys and lock boxes and say to my clients “ Well, what do you think?” with a straight face, I might add.

Other than the usual comments like poor layout, overpriced compared to others, condition of the units, my clients just kept shaking their heads and asking themselves is this what they really want to do or move here?

Obviously, they did not purchase anything that day but one week and 2 buildings later, they purchased a beautiful unit that they and I liked. They now know and my past clients know why I choose to work with just a few clients at a time because having to prepare properly before every showing because of lack of faith in the listing data, is time consuming and for the buyer, creates a bit of mistrust in the MLS listing.

Again, I want to re-iterate that not all real estate agents were like some of the above and if you do list your condo, check weekly that the information on the listing is accurate. For two reasons, to ease the uncertainly of the buyer and prevent you from having your condo sit on the market while others are selling!

Note: I wrote this 4 years ago and as pigs still have not learned how to fly, I had similar challenges twice this year already.