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News Release For Comment: Jack Lane, President, 519-670-6148 For Background: E.L. (Betty) Doré, Executive Vice-President, 519-641-1400 London, December 1, 2011 Condo market soft in November Home sales in November 2011 dipped 7.1%, due in large part to a drop in condo sales. "Sales of detached homes were down only a marginal 1.8% from the previous November," says Jack Lane, President of the London and St. Thomas Association of REALTORS®. "It was the condo market that was soft. Bear in mind, however, that condo sales for November 2010 were up 16.2% over November 2009, so the bar was set pretty high. The good news for condo sellers heading into an early Spring market is that there will be pent-up demand; the good news for buyers interested in condos is that there will be plenty of supply at a very reasonable price." Overall Year-to-Date sales of all house types are down a modest 1.1% from last year. For complete report click on the link http://www.lstar.ca/Statistics/2011/November/Pack.pdf
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RCMP’s New National Marihuana Grow Strategy Ottawa, September 21, 2011 – Today, the Royal Canadian Mounted Police stands united with the Government of Canada and its business and community partners to launch the RCMP’s national strategy to combat marihuana grow operations (MGOs) entitled the Marihuana Grow Initiative (MGI). “Marihuana grow operations pose a serious threat to Canadians, the safety of our communities and the law enforcement officers fighting against these illegal operations,” said Shelly Glover, Member of Parliament for St. Boniface on behalf of the Honourable Vic Toews, Minister of Public Safety. “The Government of Canada is taking action to combat illicit marihuana cultivation in Canada, as well the organized crime elements behind it.” for more information please click the link: http://www.rcmp-grc.gc.ca/news-nouvelles/2011/09-21-mgi-ircm-eng.htm
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THE CORPORATION OF THE CITY OF LONDON ORDER Issued Pursuant to Subsection 15.2(2) of the Ontario Building Code Act, S.O.1992, c.23 ORDER NUMBER DATE ISSUED: ISSUED TO: PIN #: Municipal Address Legal Description BE ADVISED that based on evidence of a marijuana grow operation, the property does notconform with the standards prescribed in The City of London Property Standards By-Law CP-16. The particulars of the repairs to be made are set out in the “Schedule of Repairs to be Made”,attached hereto, and forming part of this ORDER. You are hereby Ordered to carry out the repairs as set out in the “Schedule of Repairs to beMade” or the site is to be cleared of all buildings, structures, debris or refuse. This ORDER shallbe complied with and the property brought into conformance with the standards prescribed in the Property Standards By-law on or before September 21,2011. Where it has been determined that the repairs as set out in this Order have not been carried out in accordance with this ORDER as confirmed or modified, in addition to any possible court action,The Corporation of the City of London may carry out the repair at the owner’s expense. TheCorporation of the City of London shall have a lien on the land for the amount spent on the repair and the amount shall have priority lien status as described in section 1 of the Municipal Act, 2001.The amount may be added to the tax roll of the property. You are Hereby Advised that if you are not satisfied with the terms or conditions of this ORDER for more information click on the link: http://lstar-education.com/PDFs/November2011/GrowOPCityOrder.pdf
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News Release For Comment: Jack Lane, President, 519-670-6148 For Background: E.L. (Betty) Doré, Executive Vice-President, 519-641-1400 London, November 2, 2011 Market stays the course Overall home sales in October 2011 were up 3% over the previous year. "The condo market was a little soft this month," says Jack Lane, President of the London and St. Thomas Association of REALTORS®. "However, the more significant statistic to look at is the Year to Date figure, which shows condos down less than one percent from last year. In fact, total sales Year to Date are down a very marginal 0.6% from last year, so the bottom line is this: real estate in our jurisdiction is absolutely staying the course . . . and that’s good news when you consider the fact that our Year to Date sales at the end of January 2011 were down 9.3%." Listings were up 1.3% in October, at month-end the Association’s inventory of listings stood at 3,678, up 7.7% over last year at this time, and, the average price for a home (including condo sales) in the Association’s jurisdiction stands at $232,714, up 1% from the previous month and 4% up from January 2011. "What these stats tell us is that the market is both a balanced one – good for Buyers and Sellers," Lane explains, "and one that offers buyers a great deal of choice, both in terms of price and style of home. Given interest rates that continue historically low and our area’s great affordability compared to other centres, it’s a good time for renters to consider a move into homeownership." for more on the stats click the link: http://www.lstar.ca/Statistics/2011/October/Pack.pdf
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News Release For Comment: Jack Lane, President, 519-670-6148 For Background: E.L. (Betty) Doré, Executive Vice-President, 519-641-1400 London, October 3, 2011 Market rebound continues Home sales overall in September 2011 were up 19.2% over the previous year, with 589 detached homes and 113 condos exchanging hands last month for a total of 702 transactions. "We had a bit of a slow start in 2011, but we’re definitely on the right track now," says Jack Lane, President of the London and St. Thomas Association of REALTORS®. "As of September 30, year-to-date sales are down only a very modest 0.8% compared to 9.3% down in January and we expect this positive trend to continue." Listings were also up 7.7% in September, as was the Association’s inventory of listings -- by 9%. "We’re absolutely in a balanced market these days," says Lane, "which means a level playing field for both Buyers and Sellers." The average sale price for a detached home year-to-date now stands at $244,307, 5.3% up from January 2011, while the average price for a condo was $182,758, down 3.4% up from January 2011. Year-to-date the average price for a home (including condo sales) in the Association’s jurisdiction is $232,511, 4% up from January 2011. For more information http://www.lstar.ca/Statistics/2011/September/Pack.pdf
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The Bank of Canada kept its trend-setting Bank Rate at 1.25 per cent on October 25, 2011. This marks the ninth consecutive announcement in which interest rates have been held steady. The tone of the accompanying statement was very dovish, with the Bank noting that “the global economy has slowed markedly as several downside risks to the projection outlined in the Bank’s July Monetary Policy Report (MPR) have been realized.” Of particular note, the Bank said it now expects a “brief recession” in the Eurozone. The Bank remains of the opinion that the euro-area crisis will be contained, but flagged obvious downside risks to that assumption. As a result of this and other factors, the Bank has downgraded its forecast Canadian economic growth this year (2.1% compared to 2.8% in the July MPR) and for 2012 (1.9% compared to 2.6% in the July MPR). for more of this story click the link below: http://creanews.ca/2011/10/25/interest-rates-to-remain-on-hold-for-longer/
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OTTAWA – October 17, 2011 – According to statistics[1] released today by The Canadian Real Estate Association (CREA), national resale housing activity picked up in September 2011. Highlights: - Sales activity rose 2.7 per cent in September from the previous month.
- Holding in line with the ten-year average, activity during the first nine months of this year pulled ahead of sales over the same period last year.
- The number of newly listed homes held steady when compared to the previous month.
- The national housing market tightened in September from the month before, but remains firmly entrenched in balanced territory.
- The national average price posted the smallest year-over-year increase since January.
National sales activity rose 2.7 per cent in September when compared to August, and follows three months of stable activity. September’s increase reflects strengthened activity in a number of major markets, led by Toronto. The monthly increase pushed national sales to its highest level since recently tightened mortgage regulations dampened sales earlier this year. for more information please click on http://creanews.ca/2011/10/17/canadian-home-sales-pick-up-in-september/
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News Release For Comment: Jack Lane, President, 519-670-6148 For Background: E.L. (Betty) Doré, Executive Vice-President, 519-641-1400 London, September 2, 2011 Market rebounds strongly in August Home sales were up 21.7% in August, with 620 detached homes and 143 condos exchanging hands last month for a total of 763 transactions. "With today’s numbers figured in, the average number of homes sold in August over the past decade is 753," says Jack Lane, President of the London and St. Thomas Association of REALTORS®, "and that calculation factors in our peak years of 2005, 2006 and 2007. In other words, as far as August goes, we’re more than on par." Listings were also up 16.1% in August and the Association’s inventory of listings – those that remain active at month end – are up 9.8%. "More evidence that we are in a balanced market," says Lane. "This means that homes may stay on the market a little longer than they have for more of this report http://www.lstar.ca/Statistics/2011/August/Pack.pdf
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For Sale By Owner Founder Turns to Real Estate AgentIt was reported by the Wall Street Journal last week that the founder of the website ForSaleByOwner had to enlist the services of a real estate agent to get his apartment condo sold in the Chelsea area of New York City. ForSaleByOwner is one of the largest do it yourself real estate sites in the US. It seems that the home owner spent six months trying to sell his condominium himself using his site, online listings and classified ads before giving up and turning to the help of a real estate broker. The real estate broker he hired had to fight him to increase the asking price for the condominium before he listed it on the MLS system. The real estate broker reports that once listed on MLS the apartment condo sold very quickly and that his client ended up with more money than he was initially asking even after paying a full 6% NYC brokers commission. The moral of this story is that even a king of For Sale by Owners needs the help of a good real estate agent. So if you are in London Ontario and are thinking of selling your home please contact me to discuss your move.
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News Release For Comment: Jack Lane, President, 519-670-6148 For Background: E.L. (Betty) Doré, Executive Vice-President, 519-641-1400 London, August 3, 2011 July a strong month for condos Condos made a strong showing last month with 268 new listings – up 15% over last year at this time-and 155 sales – up 24% over last year. Sales of detached homes were slightly down from 2010. A total of 587 homes exchanged hands in July, down a marginal 0.3%. "The condo market played a bit of catch-up last month," says Jack Lane, the President of the London and St. Thomas Association of REALTORS®. "That’s what our local market has been doing over the past several months. One month an increase in the number of higher-end homes sold brings the average Year to Date price up; another month, a surge in condo sales recalibrates that price." To read more on the stats click: http://www.lstar.ca/Statistics/2011/July/Pack.pdf
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News Release For Comment: Jack Lane, President, 519-670-6148 For Background: E.L. (Betty) Doré, Executive Vice-President, 519-641-1400 London, July 4, 2011 Real Estate Sales Rebound in June Nine hundred and thirteen homes exchanged hands in June: 741 detached homes, up 12.3%, and 172 condos, up 10.3%. "It’s the best month this year and right in line with pre-Recession levels," says Jack Lane, the President of the London and St. Thomas Association of REALTORS®. "The market is definitely heading in the right direction." Residential listings taken last month numbered 1,746, up by 11.2%. "The uptick in listings is just further proof, that we are in a balanced market, one that’s good for buyers and sellers alike," says Lane. In determining how much properties have appreciated over time, LSTAR gives more credence to their increase from one month to the next, as opposed to year over year, as this more accurately represents the level and pace of actual appreciation. The average sale price recorded by LSTAR in June came in at $235,772, down 4.4% from May of this year. "Remember that this is an average house price," says Lane. "It’s going to fluctuate depending on how many houses in a certain price range sell in any given month. If a lot of high-end homes sell one month, the average price will increase; if a lot of lower-end houses or condos sell, the result is a lower average price." The June Year to Date $236,065 is up 5.5% over January 2011. For more information go to http://www.lstar.ca/Statistics/2011/June/Pack.pdf
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News Release
For Comment: Jack Lane, President, 519-670-6148 For Background: E.L. (Betty) Doré, Executive Vice-President, 519-641-1400 London, June 2, 2011 May market an improvement 702 detached homes and 180 condos exchanged hands in May 2011, for a total of 882 transactions. "As I predicted in last April’s media release – and with the help of better weather -- we saw improved sales figures in May, only 1.8% off from last year’s," says Jack Lane, President of the London and St. Thomas Association of REALTORS®. "However, sales don’t tell the whole story. The number of listings factors in as well and, as of the end of May, a total of 1,845 listings had been processed. That’s up 7.3% from the previous year." Active Listings End of Period – a measure of inventory – were also up 13.9% from 2010. "We’re entering more of a balanced market," says Lane, "which benefits both buyers and sellers. Moreover, sales in London’s Sister City of St. Thomas also showed improvement, ending only 6.5% lower than the previous year -- another sign that our market overall is beginning to stabilize." For more information please follow the link below: http://www.lstar.ca/Statistics/2011/May/Pack.pdf
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News Release For Comment: Jack Lane, President, 519-670-6148 For Background: E.L. (Betty) Doré, Executive Vice-President, 519-641-1400 London, June 2, 2011 May market an improvement 702 detached homes and 180 condos exchanged hands in May 2011, for a total of 882 transactions. "As I predicted in last April’s media release – and with the help of better weather -- we saw improved sales figures in May, only 1.8% off from last year’s," says Jack Lane, President of the London and St. Thomas Association of REALTORS®. "However, sales don’t tell the whole story. The number of listings factors in as well and, as of the end of May, a total of 1,845 listings had been processed. That’s up 7.3% from the previous year." Active Listings End of Period – a measure of inventory – were also up 13.9% from 2010. "We’re entering more of a balanced market," says Lane, "which benefits both buyers and sellers. Moreover, sales in London’s Sister City of St. Thomas also showed improvement, ending only 6.5% lower than the previous year -- another sign that our market overall is beginning to stabilize." For more information follow the link below http://www.lstar.ca/Statistics/2011/May/Pack.pdf
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News Release For Comment: Jack Lane, President, 519-670-6148 For Background: E.L. (Betty) Doré, Executive Vice-President, 519-641-1400 London, May 2, 2011 April sales down, but on par with previous years 619 detached homes and 131 condos exchanged hands in April 2011, for a total of 750 transactions. "While last month’s sales were down 26.3% from the previous April, it’s important to remember that April 2010 set an all-time LSTAR record – up 26.5% over April 2009," comments says Jack Lane, President of the London and St. Thomas Association of REALTORS®. "Last month’s sales are more on a par – albeit on the low side -- with those of the previous decade." He continues, "When you factor in the persistently poor weather that has plagued our region over the last few months, I think that 2011 sales point to a healthy, vibrant market. In fact, I predict that we are in for a steady market for the balance of the year and that, by year’s end, our numbers will be down only marginally from those of 2010 . . . if at all. That’s how confident I am about our region and the progress of our economic recovery... for more information follow the link below http://www.lstar.ca/Statistics/2011/April/Pack.pdf
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