Tips for London Investors and Landlords

Posted on May 14, 2012 by Kathy

Investment Advice

I have just published a new article on my real estate website entitled “Keeping Renters – Advice to Investors in London Ontario.” It is targeted at landlords with some tips for trying to extend the stay of renters in investment real estate.

Here is a summary of the opening section:

“As a landlord and real estate investor in London Ontario, you will always be facing renter turnover and the subsequent loss in income while the property sits empty. Keeping your tenants happy and satisfied can extend their stay and reduce turnover.”

If you are thinking of getting involved in rental real estate or are currently a landlord you can find the follow article by following this Keeping Renters Advice link.

I hope you enjoy the tips and I would be happy to hear your thoughts.

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MLS Home Price Detail for April 2012

Posted on May 9, 2012 by Kathy

MLS-Home-Price-Report-April-2012MLS Home Price Detail Report
London and St. Thomas Real Estate Board
by Area of London Ontario for April 2012

2011 Average 2012 Year
Sale Price* To Date %

North
Total Detached North 303,622 319,688 5.3%
Total Condo North 208,969 200,071 -4.3%
Bungalow North 219,866 258,842 17.7%
Two Storey North 341,265 338,098 -0.9%
Ranch North 332,829 390,716 17.4%
Townhouse Condo North 190,519 195,940 2.8%

South
Total Detached South 269,759 270,213 0.2%
Total Condo South 151,805 152,148 0.2%
Bungalow South 203,748 187,095 -8.2%
Two Storey South 328,724 323,445 -1.6%
Ranch South 304,749 296,918 -2.6%
Townhouse Condo South 143,901 139,053 -3.4%

East
Total Detached East 199,007 206,466 3.7%
Total Condo East 188,630 142,972 -24.2%
Bungalow East 161,733 167,464 3.5%
Two Storey East 263,435 268,270 1.8%
Ranch East 199,511 197,131 -1.2%
Townhouse Condo East 125,301 114,952 -8.3%

* up-to-date figures based on January 1, 2011 to December 31, 2011

Source: London St. Thomas Association of Realtors (LSTAR)

For more information on London Ontario MLS Homes for Sale be sure to check out my website.

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London Housing Market Report for April 2012

Posted on May 8, 2012 by Kathy

MLS-Housing-Market-Report-Apr-2012London and St. Thomas Association of Realtors
MLS Real Estate Housing Market Report
for April 2012

Market Activity 716 detached homes and 164 condos exchanged hands in April 2012, for a total of 880 transactions
Type of Market Balanced
Listings Active detached home listings end of period were down 6.4%. Active condo listings end of period were up 1%
Average Price for April 2012

(April 2012 compared with Last Month

 Total Residential (Detached & Condo) $247,869 up 5% ($236,004)
All detached homes in LSTAR’s jurisdiction $266,457 up 5.9% ($251,533)
All condos in LSTAR’S jurisdiction $166,717 down 2% ($169,069)
All two-storeys in LSTAR’s jurisdiction $320,894 up 5% ($305,814)
All bungalows in LSTAR’s jurisdiction $194,625 up 2.7% ($189,498)
All ranches in LSTAR’S jurisdiction $321,477 up 7.7% ($298,480)
All townhouse condos in LSTAR’s jurisdiction $152,778 down 2.1% ($156,094)
Most Popular in April Two-storeys, then bungalows, then ranches, and then townhouse condos.
Affordability Homes in LSTAR’s jurisdiction continue to maintain their affordability compared to other major Ontario and Canadian centres. According to the Canadian Real Estate Association’s Major Market MLS® Statistical Survey for February 2012, the average price year-to-date for:

  • London and St. Thomas – $236,00
  • Vancouver – $761,896
  • Victoria – $478,939
  • Toronto – $496,209
  • Calgary – $418,407
  • Hamilton-Burlington- $349,534
  • Ottawa – $347,897
  • Kitchener-Waterloo – $324,415
  • Edmonton – $348,639
  • Saskatoon – $314,238
  • Regina – $298,208
  • Halifax-Dartmouth – $269,404
Market Factors Sales last month outstripped those of the previous April by 17.3%, with 716 detached homes exchanging hands and 164 condos. ‘Although we’re obviously delighted by these figures, we need to put them in perspective,’ advises Barb Whitney, President of London and St. Thomas Association of REALTORS® (LSTAR). ‘In April 2011 sales were down 26.3% from those of April 2010 — the same month that set an all-time LSTAR record for the month of April, 2010 of 1017 sales. What we’re seeing now is more on a par with previous Aprils going back to the turn of the millennium.’ ‘Active listings at month’s end were down 4.9%, which is a bit of a departure from what we’ve seen over the past several years and points to a ramping up in activity,’ says Whitney. ‘We continue to see our market as balanced, however – now and for the near future.’

Source: London and St. Thomas Real Estate Board (LSTAR)

Please follow this link Real Estate Agents London Ontario for homes and condos for sale in the London market.

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London Ontario Housing Market Results for April 2012

Posted on May 4, 2012 by Kathy

MLS-London-Ontario-April-2012

“April Sales Surge” was the headline of the London St Thomas Association of REALTORS® news release this week when they announced their official results for April 2012. The London REALTORS® association reported that home sales where up 17.3% from the prior year but did note that April 2011 was down 26.3% from 2010.

The April housing and condo sales figures breakout as follows:

Detached Homes: 716 homes sold in April 2012 up 97 from the 619 sold in April 2011 or 15.7% but down 119 or -14.3% from the 835 sold in the record breaking April 2010 month.
Condominiums: 164 condos sold in April 2012 up 33 units or 25.2% from 2011. Similarly down -9.9% from April 2010 or -18 condos.

Combined the London housing market sold 880 in April 2012 up 130 from 2011 but down 130 from the red hot April 2010 month.

Overall, the level of sales is solid and in my opinion indicates a balanced market. In fact it’s very good to see some strength in the condo market which seems to have struggled lately.

As for housing prices the REALTORS® report a 5.6% price increase in the average home price since January 2012, despite a 0.2% decline in the average condo price.

As per usual make sure to check back here in a few days and I should have more detailed analysis of the London housing market.

 

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Condos with 3 bedrooms in London Ontario – May 4th

Posted on May 4, 2012 by Kathy

I have updated my list of 3 bedroom condos to May 4th! This update contains 49 London condominiums that are new on the real estate market since April 25th.

The least expensive condo is on MLS at $103,950 for a Low-Rise apartment condominium with 3 bedrooms and 1+1 bathrooms and is located on Jalna. While the most expensive condo is on Colborne Street at $354,900 for a 3 bedroom, 2+1 bathroom detached condo.

To get your copy of the lastest list and future updates be sure to follow here to sign up.

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4 Bedroom Homes in North & Central London – May 3rd Update

Posted on May 4, 2012 by Kathy

Looking to move to a 4 bedroom home in North or Central London? You should click here to get a copy of my latest list of these 4 bedroom homes for sale which has been updated to May 3rd.

The latest list has 41 homes that have been offered for sale by REALTORS® on the London MLS board since April 21st 2012.

The first home on the list is $229,800 for a 4 bedroom 2+2 bathroom, 2 storey home near Hawthorne, while the most expensive home is a 4 bedroom 3+1 bathroom, 2.5 storey brick home located near Pinnacle. With lots of homes in between both of these price points.

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