#ldnont

MEET PRIME; JAMIE DODDS

Meet Jamie Dodds.

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💡HBA from the Richard Ivey School of business.

📞Absolutely relentless when it comes to representing his clients to the fullest

💰And on of the most creative people we’ve ever seen at saving his clients money.

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We couldn’t be more honored and proud to have him as head of our Commercial division.We truly believe success begins and ends with the team. Nobody succeed in this business alone, at least not in the long term. We received a number of calls lately on how many commercial buildings we are selling, and leasing, and a lot of it has to do with the infrastructure that we built as a team. Jamie is absolutely crucial to what we do. We get fired up every time we work on a project or creative solution for our clients with Jamie. As with everything else we do, we aim to provide next level service, and cutting edge systems for our clientele and Jamie fits that role and then some.

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If you’re looking to buy or sell commercial properties, or need a new location for your business, hit us up and will connect you.

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Go follow him @jamiethecloser on Instagram and watch his adventures there!

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LEASED!!!!

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#LEASED

Super excited to get another flagship #Ldnont building under contract. Our downtown is by far one of the most vibrant and the community of #makers and #entrepreneurs we have here is second to none. Proud and honored to have repped both of these amazing firms involved in this transaction and looking forward to a lifelong friendship and growth

#THECLOSERSDAILY EPISODE 116: DON'T BE GLUM CHUM! 🙇🏼 ​


 

Basement Flooding Grant Program

New Flooding Grant program available in London Ontario will give residents some reprieve. Take a look at the images below and check the links out to see if you qualify! 

 

 

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Real Estate Market Update October 2015+ an app to monitor crime!- London Ontario+ region

October 1, 2015

Not only did 2015 see a best June ever for real estate sales in the jurisdiction of the London and St Thomas Association of REALTORS®, now it’s seen the best September ever! A total of 840 homes sold in September 2015, up 23.2% overall from September 2014. "Year-to-Date we’ve clocked 7,513 transactions," says Carl Vandergoot, LSTAR President. "That's an increase of 10.8%."

Listings were down 2.7% for detached homes, but up 9.4% for condos last month. Active listings end of period – inventory – were down 9.5% for detached homes and up 4.6% for condos. "This September 150 condos were sold. Given that the five year average for September condo sales is 137, last month's figures are pretty much in line with what we expected," says Vandergoot. "It's the market for detached homes that seems to be tightening. If I were thinking of selling a detached home, now is when I'd put it on the market."

September was also the best September for St. Thomas since LSTAR started breaking out that City's sales statistics in 2006. 77 homes sold in St. Thomas in September 2015. The average price of a home in that City Year-to-Date stands at $219,292, up 9.7%.

The best-selling house style in LSTAR's jurisdiction for September 2015 was the two-storey, then the bungalow, followed by ranches, then townhouse condominiums, then high rise apartment condos. The average price for a detached home Year-to-Date stood at $282,241, up 4.3%, while the average price for a condo over the same period stood at $191,197, up 4.6%. Year-to-Date the average price of all homes sold through LSTAR's MLS® stood at $264,791, up 4.2%.


Disclaimer
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**Data Sourced from the London St-Thomas board of Realtors
*All opinions are our own. Curator not liable for decisions made as a result of this information if not directly representing under a documented client relationship.

Real Estate Market Update: February 2015 + A court case where the Buyer's lost HALF the proceeds!!!

Market statistics are in for the London and St.Thomas Region of Real Estate in Ontario. Continuing the trend, this January smashed last years numbers yet again. 475 home sales, that's 107 up from last years numbers. In the field we see a lot more activity then we did last year around this time, and it seems that with all the new listings hitting the market daily the spring market is coming early this year.   Great news if you're looking to buy up, sell or partake in the market in any way! 

The second half of this podcast covers a recent court case where a buyer was suing a seller for misrepresentation leading to water damage. Really interesting case with an intriguing conclusion!

Let us know if you have any questions at all or feel free to contact us any time! 


www.theClosers.ca
519-860-6547
info@theClosers.ca

Discover the difference between a "Comp" vs a "CMA"

In Real Estate there's often terminology that can be confusing at times. In this series we are looking to dispel some of the confusion and explain the main difference between a "COMP" and a "CMA".

A comparable property (or comp), is an individual property that is used to asses the value of a home. Say for example you own a 2 Storey home, with 4 bedrooms, 2 bathrooms, a finished basement and a property with all these features just sold two doors down from you, then we would definitely call that a Comp. If for example the Comp didn't have a finished basement, only had 3 bedrooms an 1.5 bath then we would be able to attribute values to those items and adjust the market value of your home accordingly. 

A "CMA" or Competitive Market Analysis takes into account multiple Comps to come up with the best price. The reason for taking a variety of sales to ascertain the best price is to get an idea of the trends in your area. There's always a ton of info the agent should be looking to find out when doing their assessment; 

- Average days on market
- Were there any motivations that caused properties to sell undervalued
- Were there multiple offers on a specific property that made it go over market value.  
-etc..

Make sure you've got representation that's putting in the work to find out all the facts and doing the proper due diligence. A lot of times a good agent with a good network can make the calls and find out things that may make a big financial difference when buying or selling. 

Hope this was helpful to you all our there and please subscribe and give us some feedback on our video series. Happy to cover any topics for our audience!

Market Update- January 2015

Another Real Estate Market Update from your friends at theClosers.ca. Been a busy 2014 across the board and things are looking bright for 2015. As always if you want any specific info just post in the comments below and we'll be happy to source it for you!

"A total of 475 home sales took place in December, making the last month of 2014 not only the best December since 2006, but also the eighth straight month in a row in which area home sales outstripped those of the previous year:

May by 5%
June by 23.4%
July by 24.4%
August by 13.6%
September by 11.1%
October by 8.4%
November by 4.7%
December by 14.7%
"A total of 8,521 homes sold in 2014, the highest number since 2007, just prior to the global financial meltdown that impacted housing markets in both Canada and the United States," explains Carl Vandergoot, the 2015 President of the London and St. Thomas Association of REALTORS®. "It's been seven lean years, but our market is definitely showing signs of a strong, steady and sustainable recovery."

Also up for the year were listings - a total of 16,492 homes were listed in 2014, up 3.7% - while inventory - active listings at the end of period - was down a marginal 0.5%. Throughout 2014 the market remained balanced.

The average price of a home in the Association’s jurisdiction for the year stands at $254,141, up 3.4% over what it was on December 31, 2013.

The best-selling house style in LSTAR's jurisdiction for 2014 was the two-storey, then the bungalow, followed by ranches, then townhouse condominiums, then high rise apartment condos. 
"These stats are good news not just for REALTORS® but for our local economy as a whole," says Vandergoot. "According to research by the Altus Group, one job is created for every three real estate transactions and approximately $55,000 in ancillary spending is generated every time a house changes hands in Ontario. Do the math. You'll be impressed."

2014 also proved a good year for London's Sister City of St. Thomas. "As was the case with London, the best year for home sales in St. Thomas was 2007, when 867 homes exchanged hands," says Vandergoot, "while its second best was 2014, when 708 homes sold." Forty homes sold in St. Thomas in December, making it the best December for that City in the past decade, second only to 2011. The average price for a home in St. Thomas in 2014 stood at $199,885, a marginal 0.8% lower than that of 2013.

The average price for all homes in the London and St. Thomas area for the month of December stands at $252,746. The following chart, based on data taken from CREA's National MLS® Report for November 2014 (the latest information available), demonstrates how homes in LSTAR's jurisdiction continue to maintain their affordability compared to other major Ontario and Canadian centres.


**source Lstar: http://www.lstar.ca/news/best-home-sales-2007

December Sales Strong

The latest stats are in and we;ve cleared another month of record setting home sales. It seems as if the backed up demand from the bad weather we had in early spring has carried us right into the winter months. Out in the market place we are still seeing lots of demand from the buyers side, and properties priced correctly are going in multiple offer situations, which is a strong indication that buyers are on the move. Given low interest rates and a balanced market, we foresee this trend continuting on right into the new year.

Expect a hiatus over the next couple weeks, which is normal as most people are tying up holiday plans and prepping for time with their families. That said, the serious buyers and sellers will still be active right into the holiday season. Oddly enough we did two of our largest transactions in the last two years right around Christmas. One in a blinding snowstorm and the other on Christmas Eve.  Both of these showcase that when people are ready to pull the trigger it's best to be prepared. 

Question about the market or thinking about buying or selling?  
Email us: info@theClosers.ca
Cell: 518-860-6547



Real Estate Market Update: November 2014

We just wanted to update you all on the latest market stats in London! If you like the video's please subscribe and share and we'll keep posting them.

Election signs did not deter sales last month

November 3, 2014

In fact, October 2014 proved to be the sixth consecutive month in which area home sales outpaced those of the previous year:

  • in May by 5%
  • June by 23.4%
  • July by 24.4%
  • August by 13.6%
  • September by 11.1%
  • October by 8.4%.

698 homes sold last month, making it the best October since  2007. "Year to date, 7,474 homes have exchanged hands in our jurisdiction," says Jim Holody, President of the London and St. Thomas Association of REALTORS®. "That's 7.6% more transactions than last year at this time." According to research by the Altus Group, one job is created for every real estate transaction and approximately $55,000 in ancillary spending is generated every time a house changes hands in Ontario. "By this calculation," says Holody, "home sales in LSTAR's jurisdiction have spun off $411,070,000 into the economy in the first ten months of the year alone and created 2,491 jobs – great news for our local economy."

572 detached homes exchanged hands last month, up 10%; condos were up 1.6%, with 126 sales. Listings were also up 5.2% for detached homes and 21.3% for condos. Overall inventory was down 0.5%. The market continues to be balanced. 

St. Thomas also performed well in October. 49 homes sold in that City last month – up 2.1%. Year to Date sales in St. Thomas are up 2.9% overall and the average price of a home in that City Year to Date is $202,609, up 0.5%.

The average price for a home in Elgin and Middlesex Counties Year to Date was up 3.8% for detached homes ($270,935) and 2.4% for condos ($182,670). The average price for all homes in the London and St. Thomas area Year to Date stands at $254,178, up 3.4%.

The following chart, based on data taken from CREA's National MLS® Report for September 2014 (the latest information available), demonstrates how homes in LSTAR's jurisdiction continue to maintain their affordability compared to other major Ontario and Canadian centers.

Real Estate Tips: 5 thing you need to know about Redeveloping Property

There are many situations where the best and highest use for a property has yet to be discovered an implemented. In this video, we showcase a few items that should be noted when entering into Real Estate Transactions with the purpose of redevelopment. This applies to both Commercial and Residential Real Estate.

MARKET UPDATE- September 2014

London-St. Thomas home sales since May and change from same month in 2013:

May 988 +5.0%

June 981 +23.4%

July 980 +24.4%

August 791 +13.5%

Sept. 682 +11.0%

Year to date 6,778 +7.4%

MARKET UPDATE- AUGUST 2014 - GREAT END TO THE SUMMER

In keeping with record setting numbers all summer, August capped off another great month for real estate in the LSTAR jurisdiction.  With all the excitement over the newly approved Kingsmills deal  , people getting wet doing the #ALS challenge and the heatwave we experienced it's no wonder the community is as active as ever. Inventory was down but that only means we need more houses to sell! Continuing the trend of being in a balanced market we see sales going well into the fall and are excited to use this momentum to carry us straight through the seasons!

Market Update July 2014- Record setting numbers yet again..

That makes it the third month in a row that the sales statistics in the LSTAR jurisdiction (London) have hit record highs. We see it in the streets every day and the buzz among professionals is this have only been getting busier and busier. Our days often begin at 6-7am and end at well after 11pm as the buyers and sellers are making moves at all hours of the day. This month included 4 Multiple on 4 different properties, 20+ contract drafted, 7 new listing opportunities and countless inquiries as to what is going on out there in the wild(literally we were standing in a cow pasture listings a farm with a very friendly cow last night.).  Granted, Real Estate is hyper local and every single community within a city is experiencing differing degrees of activity, so if you're wondering where these are an what types of transactions are happening feel free to give us a call. We'll be happy to tell you what your neighbours place just sold for or what to expect in the next 3-6 months to help you plan accordingly.  519-860-6547 or by email info@theclosers.ca

Let's get it on-Mayor's state of the city address 2014

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"Let's get it on"- The words that capped of the Mayors address this morning at the London Convention Centre. With hundreds in attendance London's Mayor Joe Fontana took the pulpit and covered a broad range of topics from the upcoming development of 401 land to the heritage districts ever-changing face in London. But there's more........

The event began with the trailer to  London born producer Cody Hackman's(check out his Venture cover here) movie "Tapped". Kudos to Cody for holding true to his roots and shooting his project in London and for supporting the local community. Even more exciting for this young professional is he has signed a two deal contract with Paramount to shoot two more project in London in the coming years.

Some Other Highlights:

  • If re-elected taxes will not go up more than 6%

  • By 2017 the 50 year old Centennial hall will be no more, rather a new modern concert hall shall stand in it's place. 

  • Joe Fontana Pledges to bring 10,000 more jobs to London

  • Talks of developing  a "Ring Road" Surrounding London to facilitate travel

  • Soho district development along the Thames will require mandatory Boardwalk construction

  • Lambeth to be considered the new gateway of London

  • Aiming to spur population growth in London through lower taxes(competitively), international student courting and support programs

  • Hyde Park from Oxford to Fanshawe to be widened

  • Large scaled development (industrial/commercial) plans for 401 access throughway to bring even more commercial (large-scale) business through out highways.

  • The heritage designation of 5 hamlets of London have created a more community focused London

  • Less licensed younger generation means more comprehensive development of bike and walking trails. 

 

All in all nothing earth shattering but those are the facts people. Take it for what it's worth and formulate your own opinion but as far as the Mayor is concerned that's what on the docket for 2014 and beyondI(depending on election outcomes of course.)

 

 

Understanding Environmental

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People are scared of things they don't understand. Snakes, Sharks, Real Estate Agents, and Environmental audits all fall into this category.  Environmental audits can happen when a Commercial or Residential property has a history or cause for concern. Typically a buyer considering the purchase of a property with such concerns will require the following:


Phase I : This is a historical and visual review of the property in question. The phase I is the stage at which the consultant reviews the property and informs the buyer or the seller if the property is safe to purchase or if further discoveries are necessary.  If there are items of concern (proximity to a gas station, history of spillage on site etc.) the consultant will most likely issue a recommendation for a Phase II Analysis

 

Phase II Analysis: Sampling and analysis. The Phase II analysis happens when there is cause for concern or discovery during the Phase I process.  It can involve drilling and sampling the soil and  the price can vary depending on the size and scope of the project. The samples are then taken to a lab where they are analyzed and a conclusion is derived. A remediation report may be provided which in turn can lead to a Phase III

 

Phase III: Remediate. This is where all of the information from Phase I and Phase II is compiled and a plan of attack is put into play to remediate the property or problems that may occur.

The description above is incredibly simple and does not cover many of the technical aspects of Environmental audit. However it's designed to give our clients an understanding of the process without bogging them down with technicalities. As with all other aspects of our business, we assist our clients with every step of the process and work with partners in the industry to ensure they obtain the very best service professionals. 

 

If you have any questions or concerns feel free to contact us any time. Advice is always free and we are always accessible to you. 

 

Protect yourself from unsolicited calls

Most people trust their Realtor¨® to guide them through the listings process and as such sometimes do not understand the implications of the clause 11 Use and Distribution of Information of the Listing Agreement.

 Simply put this clause states that once the listing has expired the seller either allows or does not allow Realtors® to contact them to pitch their services.  We recently received and email from our board LSTAR indicating that some registrants are not complying with the clause and sellers have been issuing a number of complaints.

For those not in the business let us put it this way- DO NOT CONSENT to allow people to call you upon expiry of your contract. It put's you in a position where hundreds if not more Realtors® have the ability to contact you and pitch their services. The reason we feel so strongly about this is from our perspective business is earned. Simply hitting the numbers and  calling expired listings that have opted to NOT consent hoping to land a listing is a sign of desperation. The best Realtors® out there earn their business day in and day our through hard work and a strong business model. Having a code of ethics and standing by it is imperative in todays fast changing market and a direct reflection of your Realtors® discipline.  Find someone or a team that espouses the right virtues and you'll find long lasting partners in Real Estate rather than just the flavour of the week.