Real estate

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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#THECLOSERSDAILY : EPISODE 47 : DON'T WORRY. BE HAPPY.

The Closer's Daily episode 47
So we're going to continue the conversation about landing property in this crazy market. And another strategy you can use is be really really to people. So, you know in real estate, from showings, to bookings, to offers, to multiple offers, to you being on the listing side, to you being on the buying side, you know there's a lot of stressful situations and things can get pretty tense. There's phone conversations, people can treat people with disrespect, or kind of end things on a bad note. A strategy that we really like to use is always treat people with respect and love and kindness. The same type that I would expect despite the situation. It is just business. It's not my property that I'm selling, it's not my money that I'm investing. It's my buyer's money that I'm investing so I'm there to protect them and guide them along. I have to leave my ego out of every situation because at the end of the day if I respond to somebody in a snappy way and then I'm sitting on the other side of the transaction from them, that's going to come back and bite me in the butt. So today's take away is be really really nice to people because you never know when you're going to be on the other side of the transaction. Hope you guys are enjoying the series, take care.

Disclaimer: "Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, we assume all information is subject to change and should be verified independently by the buyer and their agents.”

#THECLOSERSDAILY : EPISODE 46: THINK ON YOUR FEET. DON'T COMPETE.

Closers Daily episode 46
So continuing on the past couple of episodes that we've done on how to buy when the market is as crazy as it is and you don't necessarily want to compete. Another strategy you can use is purchasing new construction. New construction right now is something that, in London, is very, very limited. I know there's about 300 lots that are coming up in phase five of Carnataka Village. I also know that London didn't plan accordingly for the amount of absorption rate that we needed. I know last year we absorbed about 900 new builds into London. This year we're on pace to do about 1,300. I've heard rumblings that there's some stuff on the back end that they're going to be releasing a whole bunch of new lots coming up. As of right now, the builders actually just jumped their prices so the lots that maybe were $75,000 last year, are now a buck 25. Some of the lots that were $175,000 are $200,000. So what they're banking on is the limited inventory, prices reflective of the demand, so the builders know their in that position. I've also heard they jumped some of their building costs so it's important to know what's out there and what's coming down the pipeline so that you don't over pay, but that is another option.

Disclaimer: 
"Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, we assume all information is subject to change and should be verified independently by the buyer and their agents.”

#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 March 1st 2015 + a story about a buyer losing their deposit on a $2 Million dollar home

Just our monthly update outlining the latest Real Estate Sales Statistics. The numbers reflect sales in the London Ontario, St.Thomas jurisdiction, which covers Lake Huron to Elgin and reaches East and West. 

Sales states have been record breaking for the last 8 months and this is the first month that we didn't set record numbers. That said, 535 homes sold, beating the average average for past decade of 489. 

Listings up 6.2 
Inventory down 1.3(active listings at end of period)

We are currently in a Balanced market .

The average price of a home is $248,056. 

Full stats below. 

March 2, 2015

Despite record-breaking cold, a total of 535 homes sold in February. "Given that the average number of February sales over the past decade stands at 489, I think it's fair to describe February 2015 as a good, solid month for home sales," says Carl Vandergoot, President of the London and St. Thomas Association of REALTORS®. He cautions against comparing February 2015's activity with that of February 2014. "It wasn't a typical year. The Polar Vortex had home sales in a deep freeze lockdown in January and February 2014. Comparing the two month-over-month would not only be counterproductive, but it would also give a false impression."

Also up for February were listings by 6.2% - while inventory - active listings end of period – was down a marginal 1.3%. The market continues to be a balanced one.

February 2015 was also a good month for London's Sister City of St. Thomas. "Fifty four homes sold last month, making it the best February on record for St. Thomas since 2007," says Vandergoot. The average price of a home in St. Thomas Year to Date stands at $203,008, up 1.6%."

The average price of a home in the Association's entire jurisdiction, which includes Middlesex and Elgin Counties, stands at $248,056 Year-to-Date, down 2.4%. “This is an average price, rather than a median,” explains Vandergoot. "The figure will fluctuate based on what is sold at what price in any given month.

The best-selling house style in LSTAR's jurisdiction for February 2015 was the two-storey, then the bungalow, followed by ranches, then townhouse condominiums, then high rise apartment condos.

House Style/Units Sold/Average Price
2 storey-127-$331,566
Bungalow    -92-avg-$204,146
Ranch-56-avg$304,311
Townhouse-38    -avg-$155,442
High rise apt. condo- 27-avg-$154,267

* Average Price Year to Date for February 2015

**sourced from http://www.lstar.ca/news/february-sales-solid

How MLS feed can work: Sometimes, you really are just a number

How MLS feed can work: Sometimes, you really are just a number

Ever heard of a referral website? It’s a website that curates lists of professionals with testimonials and such. It then let’s people pick and choose from those lists, i.e if they needed a plumber or something of the like. What a lot of people don’t know is that behind the scenes these sites, the business model is getting paid referrals for successful completion of a connection. A referral. A company’s is in business to make money so it makes sense.

A couple years ago some people noticed this business model and jumped all over it, created website that did the same for real estate. The caveat being that they had access one amazing tool called the IDX Feed to give them an edge.

When we list your property a few things happen. Prior to our meeting we do a ton of due diligence. We pull sales history, property records, verify zoning, run CMA’s, some other super secret Real Estate analysis and often, we do drive by’s to see your property and the others that have sold in your neighbourhood. Then we come for the preliminary consultation where we get a tour of your home, review it against our preliminary data and have an open discussion about the sales process and likely market value of your home. Then, once you’ve fallen in love with our sales systems and are totally see why were the right team for the job, we sign the listing + data paperwork. This paperwork is submitted to the board and the property hits the local MLS(there are different boards-which we will cover in another post.) The MLS feeds the property to the IDX which is a pipeline that feeds sites like Realtor.ca. Well a couple years ago CREA decided to open up the IDX so agents and brokerages couple publish the feed. The main difference is the IDX feed is live data, where as Realtor.ca is delayed by a couple days.

Sites and brokerages started popping up with the business model that they would use lead capture(landing pages, sites where you can search for properties etc..) by forcing you to input your email to view properties. They then take your info and sell it back to the Realtors, who did all the hard work in the first place to get it on the IDX. Their end game being a 25–35% referral for a successful transaction. Again, they’re in it to make money so makes sense right? The problem we see is that these sites are really good at marketing. That what they do. They’re great at telling you how they’ve spent hours vetting the agents that they refer to you, and that they only work with top producers. They rave about the customer care you’ll receive from their end. Then, they call a agents in the local marketplace, ask them a few questions about their productivity, make sure they agree to the referral and voila- you now have someone your barely know, with no concept of their qualification representing you in the sale or purchase of the largest investment of your life.

We’ll let you decide if you think this is a deceptive business practice. Our business is 95% referral, and our clients are some of the most educated, loyal and hardworking people we know. They’re simply looking for the same loyalty in return, and we’re happy to give it to them. To quote last weeks episode of Suits when it comes to loyalty- “If we’re asking for it, you’re getting it”.

We simply wanted to take a second to break down how the system works.

We list it-> it’s in the pipeline-> lead capture sites tap into the pipeline-> you enter your email to lead capture-> they try and sell you as a lead back to us. There’s all kinds of businesses out there, and the great thing about a free market is there’s room for us all. Some agents base their business off this and to be honest there tons of great ones that do. We just feel there’s a massive lack of transparency in our industry. Watch us change that.

Let us know what you think of the model, and feel free to comment or ask any questions at all!

If you like this content please click below and recommend it and/or share it! It’s a small gesture but would mean the world to us, and provide more jet-fuel to keep pumping out the content!

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

Real Estate Developments happening in London Ontario

We wanted to give some value to the broad range of viewers we have, other Realtors being some of the most interactive we have in our community. Recently we attended the Regional Commercial Council Annual General Meeting and wanted to relay some of that information to those who were unable to attend. We're always happy to share information and talk some shop with anyone in our community. If you have any questions, comments or concerns feel free to reach out to us any time. Our goal is to build our community and help in any way we can!

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



Quick Tip: Be Aware you might be on Candid Camera!

This day and age there is a lot of seller leveraging information technology to protect themselves, and to get a leg up on the competition. Be aware that when viewing homes, with your Realtor or at open houses, there is a good chance you're being recorded.

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: April 1st 2014 (London & St.Thomas)

After one of the coldest winter's anyone can remember, the Thames River isn't the only thing overflowing. Ton's of new inventory is hitting the system on a daily basis and we're happy to report the stats from last month. Despite everyone's concern over the weather March was indeed a busy month for home buyers and sellers. 

Thinking of making a move? We are happy to help you in any and every way. Contact us today and we'll show you why we are quickly becoming the gold standard in customer service and hard work. 

Something You Might Not Know About Realtors

When people hear the term Realtor a few images may come to mind. Fast talking, phone slinging, bus sign posing professional who can tell you everything and anything about the market in a flash. Something you might not realize is as a group, Realtors can be some of the most giving when it comes to their time, energy and resources. We've seen firsthand Realtors in our community who go above and beyond for their peers without every tooting their own horn, so we're gonna toot it for them! 

If you're looking the see where and how Realtors give back you can start at Realtors Care's website. From there you can mosey on over to places like; National Garage Sale;The Royal Lepage Shelter Foundation; The Realtors Community Foundation; CREB Charitable Foundation and the Real Estate Foundation. Among hundreds of others these are prime examples of how selfless the professionals in our industry can be. 

We truly feel blessed to be surrounded by such great people and want to give our deepest thanks and admiration to those who manage to handle such a busy lifestyle and schedule yet are able to give so much to build up the communities around them. We're inspired by what you do and will strive to do the same. 

 

Neighbourhood Guide-Lambeth, London Ontario

A community within a community Lambeth has always has a great reputation among Londoners. Due to it's proximity to the 402/401 corridor, recently the Mayor of London stated that Lambeth is destined to becoming the new . Heading on it's outskirts is Clublinks Greenhills golf course and leading into the community is a plethora of owner operated businesses. You can see the pride of ownership among the residents and community. Lambeth is a great place to raise a family, very close to the Boler Mountain and  coupled with it's annual Harvest fest, you can be sure there is always plenty of events for the whole family.