Watch Out BlogEstate!

Welcome to my new BlogEstate,

I'm new to blogging but I think it's a pretty cool, eco-friendly way to share my newsletters and information about the London and area Real Estate market.

I will be regularily updating my blog with new market information, listings and fun facts about London. Also check back for new opinion polls, recipes and helpful home owner tips like how to keep a weed free garden, or spring cleaning advice!

Let's get started!


Selling Your Home: Why Use a Realtor?

Some homeowners are tempted to try selling their property without the help of a real estate agent (this is called FSBO: For Sale By Owner). The reality is that selling real estate is a complex and highly specialized field. If you are like most, your home is your biggest asset. An agent will help steer you clear of the many pitfalls, and most importantly, will save you time and money. Here are just a few of the advantages of working with an agent:

• Your agent knows real estate values in your neighbourhood and will help set an agreeable and competitive price on your home.
• Your agent will establish a marketing strategy for your home ensuring that your property is exposed to scores of potential buyers.
• Your agent takes care of the many tasks involved in selling a house (everything from putting up the for sale sign and taking care of paperwork). This saves you time and ensures that the transaction is simple and low-stress for you.
• Your agent is an expert in the home selling process and as such will advise you of your rights, options and obligations.
• Your agent is an experienced negotiator and will work to get you the best price possible.
• Your agent has access to all of the latest tools, technology and tricks of the trade.
• Your agent can recommend the best ways to improve your home's curb appeal.
• Your Royal LePage agent has the support of a national firm and a network of contacts and expertise.

Go Green—Ways We Can Cut Waste

1. Reduce waste by using Bounty Select-a-Size sheets. They are 45%
   smaller than regular Bounty sheets, butstronger when wet than the next leading 2- ply.
2. Before you hit PRINT, consider if you really need a hard copy. If so, use both sides of the paper. Add ‘Think Before You Print’ footer to your emails.
3. Pour left-over wine into ice cube trays and freeze. Use the next time you need to cook with wine.
4. The faster the flow, the more water that's wasted, even with low-flow fittings on your taps and shower.
5. Up to a third of the drinking water that comes into the average home goes straight down the toilet. To reduce the volume per flush, put plastic bottles filled with water into your cisterns.
6. Use the water used to boil veggies, to make stocks or soups. Or, pour it on your garden when it's cooled.
   
   By taking small steps and using products that help produce less waste, you’re helping to keep trash out of landfills.

Market Report

Last month, 864 homes exchanged hands in the jurisdiction of the London and St. Thomas Association of REALTORS® (LSTAR), including 698 detached homes (down 15.4% from May 2008) and 166 condos (down 15.3% from May 2008). Year to date, 2535 detached homes and 579 condos have been sold – down 15.2% and 23.8% respectively compared to the same
period in 2008.

“May sales have increased by 7.5 per cent over April’s sales,” says Joe Hough, LSTAR President. “It’s very encouraging to see sales continue to increase month over month.”
Hough says the average residential price is also improving. “Year-to-date for May 2009, the total residential average price is down just 1.2% to $209,920, compared with a decline of 1.8% in April, 2.7% in March, 2.4% in February and 2.8% in January.”

Hough says the federal government incentives announced in the last budget, including the increase in the maximum withdrawal allowed under the Home Buyers’ Plan to $25,000, and the First Time Buyer Tax Credit, have helped spring sales.

“REALTORS® know that several factors have led to this market situation,” says Dale Ripplinger, President of The Canadian Real Estate Association. “First, price adjustments in some markets have helped affordability. Second, lenders do have money for people and properties that qualify, although some are being more stringent. The third factor involves consumer confidence, which has risen in the housing market through the Spring.

CREA Chief Economist Gregory Klump says: “In the recessions of the early 1980s and 1990s, sales activity bottomed out before the job market or even the economy did. Improved affordability may result in Canadian existing home sales leading the economic recovery this year.”