Aros Realty
1093 Gainsborough Rd N6H 5L5 London, ON, Canada

Last week a new home builders agent emailed me to inform me that his builder in Hydepark was offering new closings for 2022 ! The following Sat he emailed me to yet me know they sold out(less than a week) My builder Condon Homes sold out in less than a year in Ilderton Lots for new homes may be scarce come spring methinks

Another argument for Free Markets

Interesting updated new home sale data from Stats Canada for Ontario .You can change the search parameters once your on the site for example same data for all of Canada . Also interesting to compare to American data as per this link https://www.aier.org//home-construction-fully-recovers-fr/ Below link looks at USA new build stats and manufacturing data . This is relevant to us here in London Ont in regards to london new home builds as supply chains are very integrated betw...een us and the Americans .I.E. a hot American housing market could affect say Condon Homes here in London from accessing materials needed to build in Ilderton ! https://www.aier.org//pandemic-lockdown-distortions-manuf/ Also it would seem to me a given that Canadian economic recovery is very dependant on what goes on south of the border . Stronger economy equals stronger and safer real estate market . See more

https://www.aier.org//home-construction-fully-recovers-fr/

My favorite part of 2020 is how ordering takeout is now considered "supporting local businesses" and not "being lazy." Oh, and since we're talking about supporting local businesses, who's looking to buy or sell a house? Markets With Looser Restrictions Are Seeing Inventory Rise... The rest are markets seeing inventory rise significantly faster than sales. Montreal made the biggest increase with an SNLR of 62.4% in May, down 31.4% from February. Fraser Valley dipped to 38.8%, down 28.0% over the same period. Vancouver had the third biggest decline with an SNLR of 40.1%, down 24.5%. All three of these markets have loosened restrictions since the beginning of the pandemic. The pandemic has cooled down most Canadian real estate markets, and not just sales volumes. Canadian Real Estate Association (CREA) data shows the sales to new listings ratio (SNLR) is deteriorating in most major markets. Since February to May, all but three large markets saw inventory rise faster than sales. This trend appears to accelerate when markets have loosened restrictions. Sales To New Listings Ratio The sales to new listings ratio (SNLR) is self explanatory it’s the number of sales, as a ratio of new listings. The higher the ratio, the tighter inventory is becoming, which can lead to higher prices. The lower the ratio, the looser inventory is becoming, which can lead to lower prices. I said it was self explanatory, didn’t I? This next part isn’t so much, but it’s dead simple. This is the indicator real estate agents use to determine if it is a buyer or seller’s market. If the SNLR is above 60 percent, the industry considers it a seller’s market. When it’s below 40 percent, it’s a buyer’s market. Between 40 and 60 percent, and it’s a balanced market, which is priced right. It’s not a foolproof indicator, but it’s a decent start on understanding where the market is moving. One caveat is velocity fast changing markets act like the direction they’re heading, not where they are. Now let’s look at the change. Only 3 Markets Have Seen Sales Rise Faster Than Inventory Since the pandemic, only 3 markets have seen sales increase faster than inventory. Hamilton made the biggest jump with an SNLR of 81.3%, up 17.2% since February. Kitchener follows with a ratio of 76.2%, up 24.5% over the same period. In a distant third is Calgary’s ratio of 53.3%, up 1.5% since February. It’s worth nothing the two with the biggest increases were still in lockdown during May. Canadian Real Estate Inventory Is Rising Faster Than Sales During The Pandemic The seasonally adjusted sales to new listings ratio (SNLR) for a pre-pandemic February, and a partially recovered May.

This seems like common sense ,but given the times we live in it seems prudent to hi lite. London real estate market has seen significant activity in step with less lock down. If you have read the article above it is clear that more lock down equates to more job losses, business failing, more government debt for our grandchildren to try and pay off.

Often I get asked as you can imagine how the real estate market or economy is going to be in x future time. Well I am only a Realtor not an economist.Thus I am great at telling you how the market is NOW or in the Past .This organization is for the benefit of our Federal Leaders to base their decisions and policy on.I.E. what the future economic scenario is likely to be. The guy who heads this group up Is a career civil servant and does not even have a PHD, thus not sure how... arms length he is from our amazing leaders. So do your own due diligence. You all otta read this! Yes it is scary. Just for fun add in more government spending, and continued lock downs. We as citizens should be reading this stuff and telling the politicians what we think they should be doing! Perhaps ask your MP questions based on your read ?? Imagine how that would scare them!! See more

The Greater Toronto real estate roller coaster continues, with a pandemic thrown into the mix. Toronto Regional Real Estate Board (TRREB) data shows detached home sales and inventory made a sharp decline in April. Most people could have guessed that, but the impact on prices is a little less clear. The industry’s benchmark price shows detached homes are still rising in value. However, both the average and median sale prices have fallen below the million dollar mark. Greater T...oronto Real Estate Prices Rise According To Benchmark The detached benchmark (a.k.a. typical) price advanced. The benchmark price across Greater Toronto reached $1,013,900 in April, up 8.49% from last year. The City of Toronto benchmark hit $1,221,200, up 7.95% from the year before. The industry’s indicator shows prices advanced thousands of dollars from the month before.

$ 220,000 ! Time for a DEAL ! Compare to unit a few doors down for $250,000 Sold 2 listings this week,both over asking . www.straughan.ca/Listing/VirtualTour.ashx

Well this is a big deal in terms of cultural and economic issues.Pity the City of London could not have bought it . City of London and Middlesex County are lamenting and posturing about the lack of affordable housing etc. Perhaps York committed to a portion of the development going to help the poor and down trodden in order to get the deal ? If not why not ? York Developments have recently and incredibly quickly gone from a small player to on nearly every corner in London pl...us new home land development . I wonder where the money is coming from ? I only ask about the money cuz I would and could buy on the behalf of any backers out there who are interested in funding me . Uh no , perhaps not . I would have to disclose where such money came from See more

This article is based on and references American house sales and data. However as we know the demographics are very similar for Canada and likely to exhibit a high level of congruence to future Canadian real estate realities.The scenario they are referencing is baby boomers are not selling their homes in large numbers and the effect this will have in the future when they dump en masse 25 to 30% of resale home inventory on the market in a relatively short period of time. The d...emographic shift they are concerned about is likely sometime out, therefore the longer the time the more unforseen variables that may interject themselves into the scenario thus perhaps weakening the original hypothesis. What is perhaps more interesting at least in the short-term as it is a present reality is the effect of baby boomers not at this time selling their homes as expected based on previous historical trends. This tendency for baby boomers to age in place in their present homes or nesting as it is referred to at times is in my opinion affecting the markets at present. I wonder how much this trend is impacted by baby boomers children who are in their late 20s or early 30s not leaving the nest? See more

Canadian real estate sales are back to booming, and they’re pushing prices higher. Canadian Real Estate Association (CREA) data shows the price of a home in Canada hit a new high in October. Price growth was much stronger in Ontario and Quebec, with Western Canada still dragging. Canadian Real Estate Prices The industry’s aggregate price index is still climbing across Canada. The benchmark price is $633,600 for October, up 0.64% from the month before. This represents a 1.77% increase compared to the same month last year. That puts the aggregate benchmark price at a new all-time high, although growth is slower than last year.Ca

Last thing we need is more foreign buyers in the market . In my opinion having prices artificially boosted by non Canadian owners is not a net benefit to Canada . What benefit is it your house goes up ,but you can not afford to buy after you sell. This scenario of home owners being able to sell for more but not feeling comfortable or able to buy after the sale of there present home is something I am hearing from a lot of people . It seems older Canadians and first time buyers... are more concerned about this from my experience of being in the market every day (and nite lol) When I first started in real estate as an investor and later as a Realtor there was an extra land transfer tax non Canadians had to pay At the time this was in place to discourage Americans from buying up lake shore properties. I would think such a tax is long over due in residential and commercial real estate for Ontario and the rest of Canada . I have been told there is a lot of Saudi money flowing into London's commercial market :( Jim Straughan Broker of Record Aros Realty Ltd Brokerage 519 6578899 [email protected] Search , Up to Date & Super Fast https://www.houseforsalelondonontario.com/ https://search.houseforsalelondonontario.com/

There are literally thousands of villages in Spain up for sale. The price? As little as 50,000 (that’s about $80,000). These villages can be found in Galicia, a fertile region of Spain located in the Northwest region of the country. Galicia once supported Spain’s highest density and half of all Spanish villages. There are 3,500 hamlets located there. Now, about half of them are abandoned. Better long term investment than a heated and some have commented over priced London Ontario market ?

OOPS ..honey we forgot about that house in Canada . Now why would someone desert there hard earned capital and just leave a house to rot ? So many options ,sell it ,rent it i.e. property management company,give it to charity,allow relative or friend live there and maintain it ? Something smells bad here and it is not the house.

Definitely agree with article.However the huge commissions being paid by some farmers are beyond belief . It is not necessary to pay tens of thousands of $$ At the end of the day most realtors farm or residential rely on the mls system to promote there listings. I can get the deal done without breaking the bank . Call me for details Jim Straughan... Broker of Record Aros Realty Ltd Brokerage 519 6578899 [email protected] Search , Up to Date & Super Fast https://www.houseforsalelondonontario.com/ https://search.houseforsalelondonontario.com/

I have to call bullshit on this one. From what I have observed working with builders it goes from balanced to definitely encouraging new home buyers to be confrontational with someone trying to be fair and helpful. Not to say there are not unethical or incompetent builders . It seems of late the Canadian way is to make it difficult for those who are professional and caring i.e. punish the group rather than get rid of or punish the guilty! What politics are driving this article ?

Toronto and GTA versus London as Home Buying Destinations London Realtors I have talked to are suggesting that travel distance is not as big a factor for many real estate home buyers, considering the growing desirability of smaller communities farther from the black hole of Ontario real estate. These smaller municipalities, some of which are located at times hundreds of miles from the larger urban markets, have become more desirable to first time home buyers and buyers movi...ng up in price due high housing costs barriers relative to income levels. Retirement motivated Boomers cashing out of higher priced real estate markets are making an impact as well. A census analysis by Queens University supported these observations: As of 2016, fully three-quarters of Canadians are living in suburban communities. From 2006 to that year, local real estate markets or communities farther from the suburbs or city cores saw 20% population growth, while auto-dependent suburbs had 17%. Eight out of the top 10 of the fastest appreciating local real estate markets nationwide are in Ontario, specifically in areas surrounding Windsor, London, Kingston, Hamilton, Guelph.. Bottom line based on the data and my 27 years of real estate experience: Buy now as real estate house prices for London ,StThomas,Ilderton,Strathroy Mount Brydges,Delaware,Kiworth ,Komoka and further west are only going to increase in price.

Thoughtful real estate investors are always keeping an eye and ear open for signs of when rates are going up .Both to save money and to make money in real estate investing . Watching the long term movement of interest rates compared to short term may be a reliable indicator.

October Home Sales for London and St Thomas real estate as well as Ildertomn .Komoka Kilworth,Strathroy etc. Jim Straughan Broker of Record... Aros Realty Ltd Brokerage 519 6578899 [email protected] Search , Up to Date & Super Fast https://www.houseforsalelondonontario.com/ https://search.houseforsalelondonontario.com/

Tag :Choosing a top London Realtor Big Mistake ! If true,likely as true for other age groups as well .... Jim Straughan Broker of Record Aros Realty Ltd Brokerage 519 6578899 [email protected] Search , Up to Date & Super Fast https://www.houseforsalelondonontario.com/ https://search.houseforsalelondonontario.com/

Real Estate markets such as Toronto and Vancouver are more susceptible to the effects mentioned in this article regarding mortgage debt . London,lIderton ,St Thomas ,Strathroy and Hydepark real estate markets are much better investments offering more bang for the buck and less likely to suffer a significant crash if the market corrects itself in the near future. Jim Straughan Broker of Record Aros Realty Ltd... Brokerage 519 6578899 [email protected] Search , Up to Date & Super Fast https://www.houseforsalelondonontario.com/ https://search.houseforsalelondonontario.com/

Okay folks this is one of the most authoritative sources for statistical information regarding London real estate sales history and trends. Lots of information on this site for real estate first time home buyers and more experienced buyer and sellers of London Real Estate . Canada Mortgage and Housing Corporation is the definitive source for required Down payment,mortgage insurance fees, and much more .If you can not find answers to your real estate questions on this site f...eel free to call ,email or text . Jim Straughan Broker of Record Aros Realty Ltd Brokerage c.519 872 6616 [email protected] See more

Different sources indicate slightly different predictions. ,Market balancing to less of a sellers market ? Not in London ,seems like still leaning toward sellers market in London Ontario,especially in my area of expertise Ilderton New Homes, Hyde Park ,Fanshawe,Sunningdale,Whitehills.Masonville.University of Western Ontario and old North ,basically north west London Jim Straughan Broker of Record Aros Realty Ltd Brokerage... c.519 872 6616 [email protected] See more

Cautious optimism .A good approach for investors in London Ontario Real Estate ! Jim Straughan Broker of Record Aros Realty Ltd Brokerage... c.519 872 6616 [email protected] See more

No weakness in sight . Jim Straughan Broker of Record Aros Realty Ltd Brokerage c.519 872 6616... [email protected] See more

Yep ,still a good bet according to article .lol Best first step is to find a Realtor with the experience and professionalism to help .Sometimes its what you don't. buy that is a career maker or breaker for the investor. Jim Straughan Broker of Record Aros Realty Ltd Brokerage c.519 872 6616... [email protected] See more

Times are tough.LOL Jim Straughan Broker of Record Aros Realty Ltd Brokerage c.519 872 6616... [email protected] See more