Mike Down Realtor
51 Talbot St. E. N5H 1H5 Aylmer, ON, Canada

Doesn't last long these days.

248 Borden Ave., Belmont. 1200 sq.ft. 30X24 shop. Creek at rear. Needs renovations. $350,000.

Coming Soon. 126 Maud St., Port Stanley. 3 bedroom, 2 bath, one cottage away from the beach. $599,000.

This is what realtors are doing. Deciding to price low, right or high?

Just Sold my recent listing.

LSTAR's Streak of Record Home Sales Continued in October Last month, the local real estate market continued its streak of record sales and prices. 917 homes were sold in October in the London and St Thomas Association of REALTORS’ jurisdiction, while the overall average price for LSTAR climbed to $526,848. "The 917 residential transactions that took place in our jurisdiction represent the highest number of sales for the month of October since 1978, when the Association start...ed tracking data," said LSTAR 2020 President Blair Campbell. "Out of these transactions, 690 happened within the City of London, which had its best October for home sales, as well," he added. "The combination between the historically low interest rates and the 'working-from-home' trend has generated an extraordinary demand in a housing market with a very limited supply, which pushed the average home prices to record highs across the region," Campbell stated. The following table shows last month's average home prices by area and how they compare to the values recorded at the end of October 2019. Area October 2020 Average Sale Price Change over October 2019 Elgin County $457,625 13.7% London $530,006 28.5% Middlesex County $728,590 56.2% St. Thomas $438,276 27.5% Strathroy $531,498 8.2% LSTAR $526,848 27.5% "Comparing these figures with last month's numbers, one will notice a big jump in the average price for Middlesex County between September and October 2020. The difference is largely explained by a handful of high-end sales in October. This example demonstrates perfectly why average prices are not the most reliable indicators of price trends. And this is exactly why LSTAR has decided to adopt and include The Canadian Real Estate Association's Home Price Index and benchmark price in its reports," Campbell says.

All my listings have sold. Send me some business and let me help someone you love.

An update on Canadian real estate markets forecast from a couple pros in Toronto and Vancouver. And a further explanation as to why the prices have been going up so quickly in the suburban towns as compared to downtown.

Area September 2020 Average Sale Price Change over September 2019 Elgin County $498,098 17.6% London $527,414 30.1% Middlesex County $575,785 18.1% St. Thomas $433,504 26.7%... Strathroy $526,614 14.0% LSTAR $521,883 28.0% See more

I've shared the predictions of Canada Mortgage and Housing Corporation. Here's Remax forecast.

When COVID hit I said this was the start of the next recession and wasn't sure how it would effect real estate because the inflation has been driven by wealthy foreigners buying Canadian real estate. Here a major Canadian corporate head says that could actually increase if our dollar takes a hit due to a recession. I wouldn't be surprised if he's right. But he's been wrong before. We'll see.

Just listed 73 Fourth Ave. for $225,000.

Youtube news show talking about big banks money laundering not being policed.

Toronto real estate price forecast.

Area August 2020 Average Sale Price Change over August 2019 Elgin County $462,551 19.9% London $501,849 22.4% Middlesex County $635,077 29.3 % St. Thomas $455,786 31.3%... Strathroy $506,479 9.0% LSTAR $501,584 22.0% See more

This guy has an intelligent assessment of the economy.

READ THIS ARTICLE!!!!!!!!!!!!!!!!!!!!Guess what? The head of the Canada Mortgage and Housing Corporation is saying what I've been saying for years. Real estate prices in Canada have been inflating because of foreign buyers. But the important part of the article is that unemployment will soon cause an end to this recent real estate price surge.

I just sold this place in Port Stanley.

I sold this place in Aylmer a week ago

48 Treadwell St., Aylmer

48 TREADWELL Street, Aylmer, Ontario N5H 3B7 Listing Client Full 48 TREADWELL St Aylmer MLS#: 40014175 ... Active / Residential Price: $419,900 Elgin/Aylmer/Aylmer Bungalow/House Beds Baths Kitch Basement 1 Main 3 1 1 Beds: 3 ( 3 + 0) Baths: 2 ( 2 + 0) SF Total: 1,347/Plans SF Range: 1001 to 1500 Abv Grade Fin SF: 1,347.00/Plans Common Interest: Freehold/None Tax Amt/Yr: $4,299/2020 Remarks/Directions Public Rmks: Beautiful 1347 sq.ft. 3 bedroom brick ranch on a quiet street in sought after Elgin Estates at the west end of Aylmer. Custom built by Hayhoe Homes for the current owner, pride of ownership evident throughout. 1.5 car garage and double paved drive with lots of parking space. Large partially covered deck with cable TV connection on the deck. The master bedroom has ensuite privilege to the bath with jet tub and separate shower. Main floor laundry room. HVAC air cleaning system The otherwise unspoiled basement has a 4 piece bath. Directions: Talbot St. W to Bodkin St. to Treadwell St. Cross St: SINCLAIR CR. Common Elements Building Name: 48 TREADWELL ST., AYLMER Exterior Exterior Feat: Deck(s), Landscaped Construct. Material: Brick Roof: Asphalt Shingle Shingles Replaced: Foundation: Poured Concrete Prop Attached: Detached Year/Desc/Source: 2006/Completed / New/Public Records Apx Age: 6-15 Years Property Access: Municipal Road Rd Acc Fee: Pool Features: None Parking Features: Attached Garage, Private Double Driveway Parking Spaces: 0 Driveway Spaces: 4 Carport Sp: Garage Sp/Desc: 1.5 Spaces Sewer: Sewer (Municipal) Services: Cable, Cell Service, Electricity, Garbage/Sanitary Collection, High Speed Internet, Natural Gas, Recycling Pickup, Telephone Water Source: Municipal Water Tmnt: Lot Size: Acres Range: < 0.5 Acres Rent: Lot Front: 49.90 Lot Depth: 125.14 Lot Irregularities: 49.9X125.14 Lot Shape: Rectangular Land Lse Fee: Area Influences: Cul de Sac/Dead End, Landscaped, Playground Nearby, Shopping Nearby Topography: Flat site Fronting On: South School District: Thames Valley District School Board High School: East Elgin Interior Interior Feat: Ceiling Fans, Water Heater Owned Access Feat: None Basement: Full Basement, Partially Finished Laundry Feat: Laundry Room Cooling: Central Air Heating: Forced Air, Gas Inclusions: Carbon Monoxide Detector, Dishwasher, Garage Door Opener, Smoke Detector, Window Coverings Exclusions: None Brokerage Information List Brokerage: SHOWCASE EAST ELGIN REALTY INC Email About This Listing Source Board: LSTAR Prepared By: MIKE DOWN POWERED by itsorealestate.com. All rights reserved. *Information deemed reliable but not guaranteed.* CoreLogic Matrix Copyright ORTIS 2020. All rights reservd. Information is from sources deemed reliable, but not guaranteed. Unauthorized distribution, reproduction, or sale of this data is prohibited. Print Close

Combined with legal foreign investment in Canadian real estate, illegal investment continues to fuel inflation in the market.

He mentions Toronto real estate exodus to the cheaper areas surrounding it. He's right.

This analysis of Canadian real estate is in line with what I've seen.

I found another realtor with a total economic analysis view.

LSTAR's News Release for July 2020 LSTAR Home Sales Set New Monthly Record LSTAR home sales set a new record in July, with 1,275 homes exchanging hands throughout the month in the Association's jurisdiction.... "This was not only the best July for LSTAR, but also for London, which saw 856 residential real estate transactions, a number that is way above the values typically recorded during this summer month," said 2020 LSTAR President Blair Campbell. Overall, there were 1,408 new listings last month, on par with the 10-year average, but the inventory decreased to 1.1 months - its lowest value in the last decade. "Now, the sales-to-new listings ratio for our entire area is a whopping 90.6%, a figure that clearly indicates a Sellers' Market," observed Campbell. "Even more so in London, where this ratio reached 92% last month," he added. "These leaps in statistical values might sound unbelievable, especially now, in the middle of the COVID-19 pandemic. But they can be explained, if one takes into account the strength of local real estate market at the beginning of this year and the pent-up demand created during the lockdown months," Campbell emphasized. The overall average home price increased to $484,884 in July, an increase of 19.6% over a year ago. This average sales price includes all housing types - from single detached homes to high-rise apartment condominiums. All five major areas across LSTAR's region witnessed gains in their average home sales price. The following table illustrates last month's average home prices by area and how they compare to the values recorded at the end of July 2019. Area July 2020 Average Sale Price Change over July 2019 Elgin County $425,412 26.8% London $487,120 17.5% Middlesex County $624,169 30.3 % St. Thomas $394,093 20.1% Strathroy $442,368 16.8% LSTAR $484,884 19.6%

Call me for real estate advice.

Except for the wealthy foreign buyers propping up our Canadian real estate values this is an accurate analysis of what you can expect here in coming months.

June Home Sales by Week The chart below shows last month's home sales by week and how they compare to the number of weekly residential transactions that took place in May in LSTAR's jurisdiction during the last five years.

Area June 2020 Average Sale Price Change over June 2019 Elgin County $445,220 32.6% London $486,372 19.3% Middlesex County $547,444 9.8 % St. Thomas $382,862 8.5%... Strathroy $425,277 14.7% LSTAR $473,998 17.8% See more

A neighbour just told me about a property that would soon be coming on the market because they'd bought another place. I looked up the place they bought privately and they paid about a quarter of what it is worth. Please get a professional opinion on your property value before you sell it privately. Your children will thank you. Maybe.?