The First 10 Days Are Critical When Selling a London Ontario Condominium

When selling a condominium in London Ontario, the first ten days are critical and will make the difference how quickly it sells and for how much!

Condos in London Ontario being sold

The most critical time for a new listing in London Ontario is two days before it officially goes on MLS and the eight days after!

Why two days before? I have found that when we have prepared and gathered all the necessary marketing tools the following happens:

  • The documents are completed accurately and thoroughly, no mistakes or missing information & care can be taken to describe your property to prospective buyers.

  • All the pictures are taken, edited or retaken to show your home in the best way possible way.

  • All the marketing material is ready such as feature sheets, your “Buy me” binder, your www.youradress.com webpage and cards!

  • All the websites are loaded, social pages, virtual tours are ready

  • You can do the final touch-ups or any cleaning that may be required.

  • The For Sale sign is up, and any directional signs if needed are placed

Your house on MLS

Day 1 to Day 8:

This is when buyers and their Realtor are searching the Internet for buying a condo in London Ontario and certain streets for something new when excitement is the highest. You can now:

  • Be ready for all showings, have all the marketing materials and property information prepared for that one buyer who loves your place!

  • You have at least one weekend when historically property viewing is the busiest.

  • If no serious offers, the pricing may be wrong or if not enough showings, the marketing needs to improve after ten days!

Once day 11 starts, do something drastically to attract new buyers!

The way a transaction starts is indicative of how your sale will go, quickly or a long rocky road before you sell your home.

 

Listing with an active listing Realtor who has a reputation for being thorough will never do you any harm. Who uses the web to rank high in all search engines, has an above average follow up system and the finances to market your property.

Ensure that before the sign goes up and the listing gets to the MLS, everything from the lockbox, listing brochures and presentations is in place and ready to go. Make sure your listing Realtor has a system to let you view the comments and feedback about your home on an individual listing website. Do they have a checklist (we have 201 items on it) that they share with you before it even gets on MLS?

Do not allow average to get you average results!

In summary, the most crucial time for a new listing when selling a condominium in London Ontario is BEFORE it gets on MLS.

Get Your Home Sold

How do I know this? We sell a lot of condos, we know what works!

London Ontario Condominiums, Townhouses, Apartment Sales Last 30 Days

Here is a brief report on London Ontario condominiums, including apartment condos, townhouses, and townhomes over the last 30 days.

London Ontario Condo Market

Apartment Condominiums: 67 sold through our MLS system taking on median 9 days to sell and getting 103.38% of the asking price.

Townhouses Attached: 97 changed hands, selling for 101.8% of the asking price and the days it took to sell was an average 11 days.

Detached Townhomes: 10 changed hands as reported through our MLS system, 14 days on the market was the average and selling for 99.16% of the asking price.

Summary: For those thinking of selling, the numbers above speak for themselves and for buyers, have your ducks in a row before you start looking, it will save you money and tons of emotional stress!

Looking For a London Ontario Townhouse Or Apartment Condo?

Are you facing any of these situations when looking for a London Ontario Townhouse or Apartment Condo?

 

  • You’re looking to make one of the most important purchases of your life and you don’t want to get burned because of not knowing whom you can trust, or making a mistake that could cost you thousands of dollars later.
  • You do not know the values in the marketplace and you want to be assured of getting the most that you can for your money, without having any regrets after your closing?
  • You’re feeling out of control because there are so many unanswered questions. Making it hard to know where to start.
  • You see or find what you like but it is already sold or has an offer on it before you get a chance to even see it?

If any of these situations sound familiar, I have some fact-filled information will help prepare you for the purchase of a home in London Ontario.  Doesn’t it make sense that in order for you to make one of the most important decisions in your life you should be well informed?

Just 32 Minutes Of Your Time Will Save You From “YEARS Of Headaches”

I have a  quick and easy way to help you prepare for your next purchase  which I  call, “40 Buyer Tips You Should Know To Avoid Making Huge Mistakes!”

Just give me a call at 519-435-1600 to set up a convenient , no obligation meeting and when we do meet, in 32 minutes you will have 40 tips that could save you thousands of dollars and a ton of headaches!

Ty Lacroix

Four Best Cities in Canada For Home Buyers

Growing numbers of first time home buyers are venturing farther in search of an affordable first home. While leading metropolitan cities like Vancouver or Toronto will always be strong draws, they’re challenging markets to crack: in December 2018, the benchmark price of a home hit $1.05 million in Greater Vancouver and $796,800 in Greater Toronto.

Home buying tips

Homebuyers have driven booms in revitalized municipalities like Hamilton, Ont. and Surrey, B.C. These growing cities offer great value for homebuyers seeking more home for their real estate buck – yet their new-found popularity comes with swelling sticker prices.  Are there any exciting cities where you can buy a house for less than the national average of half a million dollars?

Fortunately, yes! Below are examples of four up-and-coming communities that are ideal for new buyers. These cities offer more than just great entry-level real estate: they’re also uniquely beautiful communities to set down roots in.


Kamloops, B.C.

Average 2018 home price: $394,5152

Approximate population: 103,811

Why: This Thompson Valley river town sits in the shadow of mountains, enjoys beautiful weather and has a relaxed, outdoorsy vibe. Kamloops boasts all the millennial must-haves: arts and culture, yoga studios, restaurants and a farmers’ market, plus amazing proximity to hiking, skiing, fishing and snow sports. Kamloops offers the quintessential B.C. lifestyle for a fraction of the cost of Vancouver living.


Halifax, N.S.

Average 2018 home price: $300,8543 (Halifax-Dartmouth)

Approximate population: 403,390

Why: Canada’s East Coast offers amazing value to anyone who’s ready to make the leap. Unlike other Maritime municipalities where job prospects may be suboptimal, Halifax is booming. One of Canada’s top tech hubs, the fast-growing city, enjoys low unemployment, a healthy economy, universities, the Atlantic Ocean and über- affordable real estate. Beaches, culture, a growing food scene are assets.


 London, Ont.

Average 2018 home price: $383,229, that is the average in the London St.Thomas area , you can start with an apartment condominium under $200,000 and a wide range of townhouses and bungalows from $200,000 to $300,000!

Approximate population: 383,437

Why: London is home to Western University and boasts a thriving entertainment and food scene. The Canadian Centre for Policy Alternatives ranks it among Canada’s best cities for women, thanks to its safety, economic security, education, health and leadership opportunities. Nicknamed the Forest City, London has plenty of green spaces to kick back in.

Some London Ontario Neighbourhoods


Guelph, Ont.

Average 2018 home price: $554,326

Approximate population: 131,794

Why: Guelph is a nature lover’s paradise, with two scenic rivers and endless kilometres of recreational trails that meander through forests and parks. It’s low in crime and has long been renowned for its high standard of living, not to mention its laid-back, university-city vibe.

These are just a few examples of the wonderful communities across Canada. And regardless of where you practice real estate, looking beyond big city limits will provide great options for first-timers looking to achieve their dream of homeownership.

The above was prepared by Genworth Canada

Cadeau Terrace London Ontario Townhouses & Town Homes Only

2,5,6,7,9,10,14,18 Cadeau Terrace is an adult orientated townhouse & townhome community in Byron, Warbler Woods neighbourhood of London Ontario. Most of these one-floor condominium townhomes have a double car garage and some backing on to green space.

Cadeau Terrace London Ontario Condo Town Homes

This enclave of eight townhouses and townhomes is an excellent location for nature lovers, golf enthusiasts and for those who travel and would like a safe upscale neighbourhood to live.

Depending on the Cadeau Terrace address, some units are detached with walkouts, some back onto green space, and there are some without a patio door to the backyard!

Cadeau Terrace Map London Ontario

A very well maintained area, easy access to shopping, services and downtown London located off of Commissioners Road West.

2 Cadeau Terrace 75 Units

These one-floor ranch/bungalow residences are 1700 square feet on the main floor, and most units have a finished basement and a small private courtyard. This complex did not skimp on green space, trees, shrubs and exterior finishes. Note: The residences at 2 Cadeau do not have a rear deck or back entrance door or a patio door.

  • In 2018, one  sold $440,000
  • in 2017, seven sold from as low as $340,000 and up to $431,000

  5 Cadeau Terrace 48 Units 

 These 1500+  square foot one-floor condominium townhouses have a double car garage, and the maintenance and care are quite evident and have a private courtyard. Note: The residences at 5 Cadeau do not have a rear deck or back entrance door or a patio door.

  • In 2018, two sold, one for $370,000, the other $420,000
  • In 2017, three sold, from $320,000 to $415,000

  6 Cadeau Terrace 13 Units

These 13 detached one-floor condominiums do not come up for sale very often. Eleven residences have two car garages and the other two, a single car garage. Five of the units have a walkout onto a ravine!

  • In 2018, no sales recorded on MLS
  • In 2017, one sold for $316,500

7 Cadeau Terrace 34 Units

 Called ‘Warbler Ridge,’ these 34 adults orientated condominiums have a combination of double and single car garages

  • In 2018, three sold from $332,000 to $380,000
  • In 2017, three sold from $307,719 to $370,000

9 Cadeau Terrace 39 Units

These condominium residences have a combination of double and single car garages, a few with a walk out.

  • In 2018, one sold $497,000
  • In 2017, four sold from $319,900 to $351,000

10 Cadeau Terrace 9 Units

 All nine detached townhomes back onto a ravine

  • In 2018, one sold $437,000
  • In 2017, no sales recorded on MLS

14 Cadeau Terrace 36 Units

  These detached condominium townhomes are one-floor residences that are highly sought after, some back onto a ravine for that extra privacy.

  • In 2018, no sales recorded on MLS
  • In 2017, one sold $355,000

18 Cadeau Terrace 43 Units

 These detached condominium townhomes are one-floor residences that are highly sought after, seven of them back onto a ravine for that extra privacy.

  • In 2018, two sold, one for $394,000 & the other, $351,000
  • In 2017, four sold, starting at $329,900 to $379,900

As you can see, the Cadeau Terrace condominium residences have increased in price as has all similar properties throughout London Ontario and area. To build a similar home in 2019, you are looking at a minimum $100,000 or more if lucky.

Scroll down this page, and you can request exact sales price and amenities and get an opinion on what your residence is worth.

 All the condos & houses currently listed for sale on MLS in Byron.                       

 All Townhouses & Townhomes For Sale in London Ontario & Area on MLS

Pond Mills London Ontario Townhouse Bargain, Needs TLC

Photo Link
TLC & Vision for this three bedroom townhouse in London Ontario

•  Two bath, three bedroom townhouse – FOR SALE CAD185,000. What an opportunity

Here is your chance to apply your decorating skills to this three bedroom, 1 1/2 bathroom townhouse in Pond Mills, the last two sales were $225,000 and $240,000 and both sold in one week! A well-managed complex of townhouse residences, this unit has a carport, and a fenced backyard patio, low condo fees of $187 and the taxes are only $1702.03!

We all know this will not last long on the market, call now for an appointment to see this bargain.

Property information

Condo Buying in London Ontario Is Like Fashion, Changes Occur Rapidly

Are you spending countless hours searching the MLS, real estate magazines, classified ads &  real estate websites looking for the right condominium at the right price in a good neighbourhood in London Ontario?

searching for a condo in London Ontario

Going to Open Houses?

Have you missed out a few properties because they already have an offer or were sold before you even knew about it being for sale?

You may be missing out on some excellent properties that sell in a day or two or one priced so aggressively that it sells as soon as it comes on the market or in a specific area?

Is all that searching working for you or is that you wish to avoid a pesky or bothersome real estate person (don’t blame you)?

Or, perhaps you are curious, or you are in the ‘just thinking stage’ of real estate. Possibly to purchase or sell.

Like fashion, real estate changes quickly, people change, neighbourhoods change, real estate markets change, and the motivation of buyers and sellers change.

So how do I, as a real estate professional & problem solver help?

We view a lot of houses and condos every week. We do loads of searches daily for clients; we are continually researching properties, even For Sale By Owners.

Search Lpndon Ontario Condos For Sale

 

We are out looking at properties every day, we know the jungle, the alleys, the streets, avenues, crescents, what a reasonable price is, what junk is and what the games are that some play.

You won’t have to jump off any cliffs, scale any mountains, wrestle a crocodile, put up with a pushy real estate salesperson, cross-eyed lawyers, impotent mortgage lenders, near-sighted home inspectors, just put up with us!

Small price to pay to get what you want!

  These folks did, and they are still with us!

London Ontario Condominiums 2018 And What To Expect in 2019

One of the best ways to understand the condominium market in London Ontario is to look at how many days these were on the market before being sold and what was the sale price percentage versus the asking price.

condo sales in London Ontario

Our real estate board LSTAR ( The London St.Thomas Association of REALTORS*) breaks London down into three geographical areas, North, South and East. ( I know, why not the West?) I plead silence with my opinion on why!

Sold Condominiums in London Ontario  2018
Area % of Asking Price Average Days on Market
North 102.2% 22
South 104.92% 17
East 103.49% 24

What does all this mean? The inventory of townhomes and townhouses for sale is low, and with more buyers than sellers, we see bidding wars, hence, higher sale prices. Apartment condos remain strong as well, and where townhouses and townhomes used to dominate the market, apartments are catching up, not only in the volume of sales but in price as well.

Is this a good time to sell a condominium? Yes!

For buyers, be prepared to act as there are more buyers than sellers, but do your homework and do not let emotion override prudence and common sense.

The hottest segment right now is the one floor detached or attached bungalow townhouse with a two car garage, seconded by attached townhouses.

What will 2019 bring?

2019 prediction condominium sales London Ontario

  Building permits for new construction are higher than ever for both high-rise buildings and townhouses and townhomes. Affordability is a powerful motivator for first-time buyers and downsizers over single-family homes.

  Until I can walk on water and be exact, all condominiums in London Ontario and area will experience a rise in prices because of demand.

 

London Ontario Condominium Buyers, Common Sense or Impulse?

Mark Twain wrote that humans have a lot of common sense because they don’t use it very much! I was looking at the daily home sales in London Ontario today and saw some houses & townhouses in London Ontario sold at 110% – 125% over the asking price!

Mark Twain

It seems to me that home buyers either act on impulse or self-discipline! Impulsive action is emotion (keeping up with the Jones’s or fear of loss) rather than common sense.

Acting impulsively has consequences, and for a buyer of London Ontario real estate, that could mean, when it comes time to sell, the market has not kept up with inflation, being house poor and in turn, having to become more frugal in the other areas of their life.

In the heat of negotiating, counter offers and multiple offers, most buyers act impulsively, even their sales representative.

 How I think a buyer should act.

Be prepared! First, know the facts, neighbourhood prices, your financial limitations and lifestyle and secondly, psychological preparation.

Facts are the easy part and make sure they are facts and not opinions. Mentally being prepared to walk away takes courage and good old common sense.

With common sense, you’ll have more cents!

All our clients have more cents! Here’s proof!

Mortgages Explained When Buying a Condo In London Ontario

 Mortgages Explained When Buying a Condo In London Ontario

When purchasing a real estate property, be it a condo apartment or a townhouse, unless paying cash, consumers typically finance all or a portion of the purchase price. Financing means borrowing money from a financial institution to buy, using the intended house or condominium as collateral for the loan.

getting a Mortgage London Ontario

Mortgage payments include the principal (the amount borrowed), and the interested (the amount charged for borrowing the money). Payments can be made once a month, bi-weekly, or weekly, depending on availability from the lender. A typical mortgage is for an amount that does not go over 75% of the appraised value of the property or the purchase price, whichever is lower. That means 25% of the purchase price is the down payment. However, with a high-ratio mortgage, you may pay less than 25% of the cost of the home as a down payment.

Home mortgages are available from several types of lenders: banks, mortgage companies, trust companies and credit unions. Different mortgage lenders may quote you different prices, so you should contact several lenders to make sure you’re getting the best price. You may also get a home loan through a mortgage broker. Brokers arrange financial transactions rather than lending money directly; in other words, they find a lender for you. A broker’s access to several lenders can mean a more comprehensive selection of loan products and terms from which you can choose.

Typically it takes a few days to receive approval for a mortgage. It is recommended to get pre-approval for before you start and go out looking at properties. When you put in your offer to buy, this is almost always on the condition of getting mortgage approval as this assures everyone involved that you can pay back the mortgage without defaulting.

Qualifying For A Mortgage

  The process involves submitting your financial paperwork to a potential lender and receiving approval for a pre-determined mortgage amount. The pre-approval agreement may also guarantee an interest rate for a mortgage taken out during the 60 to 90-day pre-approval term. The mortgage lender will inquire about such things as your marital status, some dependents, age, current employment (including how long you have worked there), salary, as well as other sources of income. They will ask for a list of your assets (i.e. vehicles, cash, etc.) and liabilities (i.e. credit card balances, car loans, etc.). Lenders also do a credit check to find out if you pay your bills on time.

 To qualify for a mortgage, the applicant’s gross annual income, credit history, and assets and liabilities (past or present) all impact the outcome. Here is a mortgage calculator to help you figure out the amount of mortgage you may get..

Types of Home Loans

 Types of Mortgages

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