Merry Christmas

Hope everyone is having a Merry Christmas, from all of us at RE/MAX Bluewater and the Pedlar Family!

REALTORS Assist Local Charities

Two local agencies were the big winners today when London and St. Thomas Association of REALTORS® President Richard Thyssen announced the successful applicants for the 2010 round of grants from the REALTORS Care Foundation (RCF). London’s Unity Project for the Relief of Homelessness received a cheque for $6,620 towards the restoration of the shelter’s heritage porch and Ontario Block Parent® Program Inc. will receive one for $3,000 for an educational safety resource for young children called “WHO r u REALLY TALKING 2,” as well as child safety overall. On hand to receive the Unity Project’s cheque were Silvia Langer, Development Manager, and Chuck Lazenby, General Manager, of the Unity Project.
“The RCF acts on behalf of Ontario REALTORS® in funding shelter-related charities across the province,” explains Betty Doré, LSTAR’s Executive Vice-President and this year’s Foundation Board Chair. “Since 1999, we have given more than $2-million in grants to eligible organizations.”
“We’re very proud of the great work our Foundation does,” says Thyssen. “It’s one of the ways we can give back to our community . . . that we can improve our area’s quality of life. Occasions like this, when we can help committed agencies and organizations like Block Parents and the Unity Project reach their goals, are very gratifying, particularly in this holiday season.”
The Unity Project was in for one more surprise – a second cheque for $ 13,479.16 raised by LSTAR’s annual Christmas Party. “We continue to be impressed at what a positive impact the Unity Project has both at street level and in the broader community,” says Thyssen. “ It is deserving of support.”

RE/MAX Housing Market Outlook Report

Residential values expected to climb further in 2011 as housing sales stabilize in most major centres, says RE/MAX. Although improved economic fundamentals will have a positive impact on Canadian housing markets moving forward, the forecast for residential real estate sales remains static in most major centres in 2011, according to the RE/MAX Housing Market Outlook Report released today by RE/MAX.

"In terms of resale housing activity, what many are talking about as the new normal is actually a return to the traditional real estate cycle ," says Michael Polzler, Executive Vice President, Regional Director, RE/MAX Ontario-Atlantic Canada. "The past decade was truly unprecedented-never before have we experienced a run up that was as strong or lasted as long. As we have digressed from the typical pattern, people have forgotten what the usual healthy cycle looks like, but all the hallmarks are there. Ample inventory levels, steady demand, and moderate growth, both in terms of sales and prices, will characterize the market in 2011. While the pace may appear lackluster in comparison to what we've grown accustomed to, it underscores the principles of real estate 101: The market is cyclical. All boats rise and fall with the tide."

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Resale housing market on solid ground in November

National resale housing activity continues its return to normal levels, having risen in November 2010 for the fourth consecutive month, according to statistics released today by The Canadian Real Estate Association (CREA). Seasonally adjusted national home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards climbed 4.8 per cent in November 2010. Although this is well short of record level activity for the month of November posted a year ago, seasonally adjusted sales now stand 19.5 per cent above levels recorded in July,2010, when it reached this year’s low point.

The Winter is finally here in Lambton County

We have been socked in here for the past two days, with over 15 inches of the white stuff and strong winds blowing the snow every where. Lots of people are stranded in the area and in fact our administrator Shelley, has not made it home from work on Monday. Hope it will clear up soon.

Mark Pedlar has his real estate licence

My son Mark has joined me at RE/MAX Bluewater Realty, having just completed his real estate courses and is looking forward to the business. It should be fun having Mark working with me and he seems quite excited.

NOVEMBER SALES UP!

Last month a total of 620 homes exchanged hands, up 6.2% from the previous year, making November the first month to post a gain since June 2010. "Of course we’re pleased," says Richard Thyssen, President of the London and St. Thomas Association of REALTORS®. "November's sales speak to a stabilization of the market, probably at 2002-2003 levels, as both the Canadian Real Estate Association and Canada Mortgage and Housing Corporation forecast." Year to date sales outpace those of 2009 by 1.5%

Ontario Energy Rebates are ending in March, 2011

Ontario homeowners can get up to $5,000 in home improvement grants through the Ontario government’s Ontario’s Home Energy Savings program, which is in effect until March 31, 2011. To qualify for Ontario government rebates, Ontario homeowners must get a home energy audit before and after their home improvement work. Get up to $150 cash back on the cost of your first energy audit with a rebate from Ontario’s Home Energy Audit program. If you are not certain about the eligibility of your Ontario house, or any specific renovations you are planning, you should request clarification from the Ontario government. Homeowners are responsible for clarifying that their house and planned improvements are eligible for Ontario Home Energy grants before undertaking any upgrade work and related expenses.
If you are still interested in taking advantage of these grants you had better hurry before they end. Here is a link to the information.
www.homeperformance.com/ontario-rebate-grants-ontario-government-energy-rebates

Townsend Meadows Construction progress

The floors are almost ready for the concrete, which should be poured this week, in Forest. The in floor heating tubing has been laid and the steel reinforcing is down waiting for the covering of concrete. These 3 units should be ready for spring 2011 completion.

New Listing in Port Franks

Just listed this 2 bedroom cedar sided cottage in Port Franks. Just 3 blocks to the beach and featuring a 110'x 228' private treed lot, new 21'x 11' sunroom and a new roof, this is a great investment for the coming summer.

Time to rake the leaves

Every year we get to clean up those oak leave here in Grand Bend. Jeannette and Aaron were doing a great job before the rain and snow came!

Made it back from NAR in New Orleans

Jeannette and I went to the National Association of Realtors (NAR) Annual Conference in New Orleans with the London St. Thomas Association of Realtors (LSTAR) as I am on the Board of Directors this year. It was a great trip with lots to see around the conference and the Big Easy, New Orleans. The music was everywhere from jazz, to blues, to Gospel music on Sunday morning and Earth, Wind & Fire at the concert that night. The weather was in the high 70s and sunny everyday. Should be like that in Grand Bend!

Otawa Trip for Uncle Ron's 60th

The family made it down to Ottawa this weekend to celebrate my uncles 90th birthday. The drive was long but the leaves were in full colour and the traffic on the 401 was tolerable.

October Sales in Line with Forcast

Last month a total of 566 homes exchanged hands, down 14.8% from the previous year. “This is right in line with what we’ve seen all over the country over the past five months,” says Richard Thyssen, President of the London and St. Thomas Association of REALTORS®. “We experienced a higher volume of sales immediately after the downturn as consumers who had been sitting on the fence jumped back into the market. Now that pent up demand has been met and the market has settled down a little. The Year-to-date sales figures speak to this: at this point in the year we are still 1.1% ahead of last year.” This month, as in previous months and years, homes in LSTAR’s jurisdiction maintain their affordability compared to other major Ontario and Canadian centers. Home sales in the Grand Bend area were very similar to those of London with prices stabilizing and sales down compared to 2009.

Now that the election is over we can get back to selling!

With the election finally over we can now see the real estate signs!

The Election in Lambton shores

We have a new council here in Lambton Shores after yesterdays election. The mayors race was close, with Bill Weber edging out John DeHondt by a 9% margin and in Ward 7 south of Grand Bend, it was a real squeaker with incumbent John Russell winning over Allan Martelle by 25 votes or 9% as well! We will have a new Deputy Mayor as well as Carolyn Jaimeson was defeated. So there will be quite a few new faces on council here in Lambton Shores and we wish them well!

Fall in Grand Bend

Fall is here and the trees are turning colours with the maple trees having such a brilliant display. Grand Bend is very colourful at this time of year and it is quiet as well!

Great trip out to BC.

Jeannette, Mark and myself just got back from Beautiful BC. and as Mark says, "there are a lot of trees there". Saw the salmon run up the Adams River, the Gold rush town of Barkerville and the old Mayra Canyon Rail line at Kelowna, so we were busy and drove too many miles.

U.S. housing starts rise unexpectedly increase in September

RBC reported that housing starts in the U.S. unexpectedly rose by 0.3% in September to an annualized pace of 610K units, representing the third consecutive monthly increase, following August’s 10.5% increase to an upwardly revised 608K annualized units (previously reported 598K) and July’s 2.0% rise, and the fastest pace of starts since April. Market expectations going into today’s report were for a 3.0% decline to 580K annualized units. Building permits, however, surprised to the downside by falling 5.6% to an annualized 539K and compared to market expectations for a slight 0.7% rise to 575K.

September sales continue cooling trend

Last month 475 detached homes and 114 condos exchanged hands – a total of 589 sales. “Over the third quarter of this recovery year, we’ve seen sales that are more like those of the early two thousands than the period leading up to the global financial crisis,” observes Richard Thyssen, President of the London and St. Thomas Association of REALTORS®. “Given that 2001 and 2002 were both banner years in our market, that’s news we can live with.” Year to Date sales continued to outpace last year’s by 2.7%. “The flurry of activity we saw in the latter part of ’09 and the first two quarters of 2010, as fence-sitters waiting out the recession got back in the game and buyers hustled to avoid paying the HST has subsided. Now, it’s back to business as usual.”

Closing your Cottage Checklist

Just got an email from Cottage Country, about closing down the cottage for the season and thought you might like some ideas.

The task seems daunting to the average cottager. But, it's not so bad. Here's a check list to make things easy for you.

■Make sure you have your security system in place.
■Void all water pipes to avoid freezing.
■Shut down the propane.
■Remove all food, and anything that may attract animals.
■Defrost and unplug the refrigerator.
■Place an open box of baking soda inside the refrigerator to keep odors away.
■Scatter moth balls in the attic and anywhere small animals or bugs might gather.
■Anti-mildew boxes can be purchased inexpensively to help prevent dampness.
■Cover windows with shades for storm protection and theft prevention.
■Store the barbecue.
■Store patio furniture.
■Make sure all garden tools are safely put away to help prevent break-ins.
■Check the sump pumps to ensure they're working.
■Organize snow removal.
■Tell your neighbors you're done for the season, and be sure to leave your home phone number so they can reach you if necessary.
■Take summer pictures of your cottage to use for advertising purposes.

Thought these were a good idea...so thank cottagecountry.ca

Welcome to Steve Riddell

Steve Riddell has joined our Exeter office and will be selling in the South Huron, Grand Bend to London area. Steve is a long time resident of Exeter and welcomes his friends, family and anyone looking to buy or sell real estate to give him a call at the Exeter office ..519-235-3777

HST blamed for the slowdown, reports Royal Lepage!

A recent survey conducted by Royal Lepage in Ontario and reported in the September issue of REM says that people in Ontario and B.C. have misconceptions about how the HST affects real estate transactions. Many home buyers incorrectly believe HST applies to the sale price of resale homes. The HST applies to the purchase price of a newly built home and fees for services and commissions associated with any real estate transaction, but it does not apply to the purchase price of resale homes.

Lakefronts are selling!

It has been very active along the Lake Huron Shoreline this past month with good prices and lots of activity. September has been a little slower with the kids going back to school and everyone kind of busy, we are hoping that it will pick up again soon! This lakefront property only took a week to sell and the new owners are really excited to start living the cottage life.

CREA reports that Home Resales are up in Aug.

The Canadian Real Estate Association reported that sales of existing homes in Canada in August rose 4.1 percent from July, the first monthly increase since March, 2010. The industry group said 32807 homes changed hands in August, with most of the monthly gains concentrated in the two biggest markets, Ontario and British Columbia, a reversal from the previous month.

U.S. Housing Starts Rise Sharply in August

Housing starts in the U.S. posted a sharp 10.5% increase in August to an annualized pace of 598K units, greatly surpassing expectations for a small 0.7% gain going into the report. The increase represents the second consecutive monthly gain and the largest since November 2009. As well, encouraging news was also conveyed by building permits which rose 1.8% to an annualized 569K and compared to an anticipated 560K. Today’s report suggests that the housing market is starting to show signs of stabilizing, however, it does little to alter the fact that the level of activity is still indicative of depressed housing market conditions. The weakness in the sector over the summer can partly be attributed to the first-time home buyer’s rebates that ended in April that brought sales forward from the traditional selling season. This is a report from RBC Economics.

Great Canada Parade in Grand Bend

The Grand Opening of Grand Bends' Main Street was on July 1st and besides the ribbon cutting there was a car show with everything from model Ts to Hot Rods and everyone had a great time. Plus the weather was perfect. Photos by Lynda Hillman-Rapley

Canada Day is here in Grand Bend

The weather is sunny and the beaches are crowded here in Grand Bend for the Canada Day Celebrations. We are busy getting ready and making sure our Canadian flag is up and flying. Have a safe and happy holiday

Applying the HST

The new Harmonized Sales Tax (HST) takes effect on July 1, 2010 and will affect certain agreements , such as the purchase of new homes that close after July 1st. HST will generally apply to the same tax base as the current GST does and therefore resale and resort homes will not be affected. Realtors commissions will be subject to the HST at the rate of 13 percent, instead of the GST rate of 5%. I have had some people ask if this new HST is on resale homes and Thankfully it is not.

U.S.-Style Home Price Correction Unlikely in Canada

The Canadian Real Estate Association (CREA) released a new report today indicating that home prices will stabilize, and will remain stable for some time. This means that Canadian homeowners are unlikely to experience a U.S.-style decline in the value of their homes. “The relationship between average price and income has recently been cited as portending a U.S.-style correction in Canadian home prices,” said Gregory Klump, Chief Economist, CREA. “However, such warnings ignore the longer-term relationship between prices and income, and disregard typical Canadian housing market cycle dynamics.” Home prices tend to rise in cycles, characterized by periods of sharp growth and periods of stability. By contrast, income generally follows an orderly upward trend over time. For home prices to keep pace with incomes, they must rise faster during housing booms to make up for periods of little or no price growth. Canadian home prices were stagnant throughout most of the 1990s, while incomes continued rising, making housing more affordable. Over the past decade, home prices have climbed sharply as mortgage interest rates declined. Klump adds: “The Canadian housing market is now widely thought to be at, or very near, the top of a cycle, and the ratio of home prices to incomes is currently high. This ratio will revert to its long-term average as it always does as part of a normal housing market cycle. History suggests, however, that it will not do so by means of a significant correction in home prices. The more likely scenario is that home prices will stabilize, giving incomes a chance to catch up again.” The bursting of the U.S. housing market bubble has sparked fears that Canadian home prices may share a similar fate. However, according to Klump, “warnings to this effect ignore solid Canadian mortgage market trends.” Conservative lending practices in the mortgage industry combined with prudent borrowing and accelerated payments among Canadian mortgage holders have been seen throughout the recent housing market cycle. Accelerated accumulation of home equity will provide options for the small proportion of homeowners who may face financial difficulty when their mortgage is renewed at a higher interest rate. These trends are expected to help Canada avoid a U.S.-style housing crisis. The correction in U.S. home prices is set against a massive oversupply of homes due to distress sales, combined with a drop in housing demand due to unemployment. The unwinding of the housing boom in Canada will be more orderly, characterized by softening sales activity and stable prices.

New Rules for First Time Buyers

Stefania Moretti with QMI Agency reported recently that Tighter lending rules and rising interest rates means Canadians looking to buy their first home may face an uphill battle. New government-backed mortgage lending rules aimed at protecting Canadians from getting in over their heads with debt once rates comes off historic lows came into effect just recently. All homeowners must now qualify for a five year fixed mortgage rate, even if they are choosing a shorter term product. Other new rules on mortgage lending include higher minimum down payments on investment properties,lower refinancing maximums and eligibility changes related to the stated income program. Also self employed Canadians are only eligible for the program during their first three years of business. there is also the HST coming in July that will increase costs slighlty.

Construction on the Main Street of Grand Bend

With spring finally here the Main Street reconstruction is progressing at high speed... just click here to see the progress.

March Sales were great!

The London Free Press today reported that March was another solid month for London-area home sales, boosting confidence the real estate market is back to pre-recession levels. The London and St. Thomas Association of Realtors said 859 homes sold last month, up 28% from the same month last year when the market was still in the grip of the recession. The association said the March totals were in line with average sales for the month over the last 10 years. "It's a question of recovering lost ground rather than any kind of boom," said association president Richard Thyssen While real estate crashed in most major markets last year, sales in London and St. Thomas dipped only 3.42% overall, compared to 2008. "Now, we're pretty much back where we were before the financial meltdown and gaining momentum," Thyssen said. He noted the number of homes listed for sale is also up, 20.6% for detached homes and 6.3% for condos. "That's good news for our spring market and for our local economy as a whole, given the considerable economic spin-off of real estate sales," he said.

Great Easter Weather

Wishing everyone a Happy Easter and may they enjoy this fantastic weather we are having...The beach has been busy, Main Street is a mess with the detours and construction going on and all the visitors trying to get around the town on the back streets, makes for a very busy town these days.

Canadian economy grows fastest in 3 years

Tavia Grant of the Globe and Mail reported that the Canadian economy began the year with a bang, expanding the most in three years as manufacturing, mining and construction activity quickened. The country's gross domestic product, the broadest measure of all produced goods and services, rose by a better-than-expected 0.6 per cent in January on widespread gains, Statistics Canada said Wednesday. It was the fastest growth since December, 2006, the fifth month in a row of increases, and the latest in a string of economic reports to top expectations. The Bank of Canada said earlier this month the economy has been hotter than it had anticipated, putting additional pressure on the central bank to begin hiking interest rates in the coming months. “Barring some major unexpected economic shock, it is hard to imagine the Bank of Canada raising rates any later than July, and it must be conceded that June is at least theoretically possible,” said Eric Lascelles, chief macro strategist for Canada at TD Securities.

Tundra Swans are Back

Spring is finally here with the return of the Tundra Swans to Lake Smith, south of Grand Bend near the Pinery Provincial Park. The swans are stopping over at the former Lake Smith before they head north to their nesting area in the Arctic. It was reported that over 40,000 swans are in the area this spring. Click here to see the video.

We are back from the Sunny...Cold South

Jeannette and myself made it back from our Florida vacation and even though it was a little cooler there, we did not see any snow! The vegetation in Florida looks a little rough with all the cold weather but we were able to golf and get in a ball game, so spring is right around the corner.

February Housing Starts up 5 Fold

Hank Daniszewski of the London Free Press reported that with even the February snow the London area housing market was heating up with the most single-family housing starts in more than a year. The Canada Mortgage and Housing Corp. (CMHC) said 150 single-family homes were started in London-St. Thomas last month, topping any month in 2009. The number of starts was five times as many as February 2009 when the market was in the middle of a deep slump. CMHC Analyst David Lan said the local market has been on an upswing since last Sept. "We are back to our long term pre-recession numbers". Which is great news for this area as the market is beginning to heat up with the spring like weather.

We are holidaying in Florida

Wish I could say the weather was warmer but 60 is better than 30! We are in the Orlando area and have been golfing, made it to Epcot at Disney and are off the see the Tigers and Bluejays tomorrow. Hope it will get warmer as well

Listing Inventory Levels are Very Low!

Lack of inventory will be the greatest Challenge facing housing markets across the country this Spring, according to a report released today by RE/MAX. The RE/MAX Market Trends Report 2010, which examined real estate trends and developments in 16 markets across the country, found that unusually strong activity during one of the traditionally quietest months of the year has led to a sharp decline in active listings in 81 per cent of markets surveyed. The threat of higher interest rates, tighter lending criteria, and in British Columbia and Ontario, the introduction of the new Harmonized Sales Tax (HST) have clearly served to kick-start real estate activity from coast-to-coast, prompting an unprecedented influx of purchasers. As a result, 87.5 per cent of
markets posted an increase in sales in January. Average price appreciated in 81 per cent of markets surveyed. “There have never been so many motivating factors in play at once,” says Michael Polzler, Executive Vice President, RE/MAX Ontario-Atlantic Canada. “We’re in for a heated Spring market that will, in all probability, spill over into the summer months, as the window of opportunity draws to a close. The supply of homes listed for sale has been drastically reduced, housing values are once again on the upswing, and banks and governments are moving in unison toward stricter lending policies.” Markets experiencing the tightest inventory levels include Toronto (- 41 per cent); Kitchener-Waterloo (-33 per cent); Ottawa (- 30 per cent); Victoria (- 30 per cent); Greater Vancouver (- 27 per cent); Halifax-
Dartmouth (- 19 per cent); London-St. Thomas (- 18 per cent); Regina (- 16 per cent); and Winnipeg (- 13 per cent). Conditions were still balanced, but starting to tighten in Calgary, Edmonton and Saskatoon,particularly in the single-family detached category.

Townsend Meadows Development

The Townsend Meadows Development is now completed and ready for area Seniors to move in. Attached is a Photo tour of the Development showing the progress of the Units being built. Just click here to see the photos.

Oakwood Place Condos now Registered

The Oakwood Place Condos located behind Tim Hortons here in Grand Bend are now registered and are being offered for sale at $139,900. These 2 bedroom units are all on one floor, come with 5 appliances and a balcony from the Master Bedroom. These units have gas heat, central air and are only a short walk to shopping, beaches and of course Tim's!

Yacht Club Web Cam now on site

I have attached the Grand Bend Yacht Club's Web Cam to my Community Links under the Sports & Recreation section. Just go there and click on the link and you will see what is happening at the Marina in Grand Bend. Right now there is very little except a frozen river and lake..waiting for summer and the crowds that will use the area this summer. Just Click Here

Townsend Meadows is on the Map

Just put the photo of Townsend Meadows on the GOOGLE earth map with Panoramio. Fun to see how this shows up and if people can see where the project is now. Go have a look just click HERE!

Commercial Building Awards from LSTAR

The winners of the first Don Smith Commercial Building Awards, established by the Regional Commercial Council (RCC) of the London and St. Thomas Association of REALTORS (LSTAR) and sponsored by CB Richard Ellis, Filogix and TD Canada Trust Commercial Group, were announced yesterday afternoon to a capacity crowd at the London Club. The story was reported in the London Free Press and the link to the story is attached.

Tug of War at the Winter Carnival in Grand Bend

Townsend Meadows in February

Monthly Newsletter is now available

This is the link to my monthly newsletter. Get ready for the Grand Bend Winter Carnival Feb. 5-7th and 12-14th weekends.

Grand Bend Beaches in February

Evidence that market is stabilizing

In January 2010, 472 homes exchanged hands in the jurisdiction of the London and St.Thomas Association of REALTORS (LSTAR). “Given that the ten-year average for January home sales is 450, I’d have to say that last month’s sales were right in line with those of previous January's,” observes LSTAR President Richard Thyssen. “And that’s a high average, given peak years in 2006 and 2007. While it’s still early days, better numbers in October, November and December 2009 and now in January 2010 may indicate that the market is beginning to stabilize.” This month’s sales include 377 detached homes (up 53.9 % from January 2009) and 95 condos (up 58.3 % from January 2009). “Although these percentage increases seem large, you have to remember that January 2009 was down 35% from January 2008,” explains Thyssen. “Last January’s figures told us that we were in a significant downturn. Today’s tell us that we are in recovery.”

Family Goes Skiing in Collingwood

We made it up skiing this past weekend and even though it was cold we did get on the hills and made a few runs with the boys. Unfortunately Jeannette didn't do so well after falling on her hip on Saturday afternoon and cracked her hip bone....Yes she got the free ride down the hill by the nice ski patrol, made it to the Collingwood hospital for X-rays and got to say Thanks, to the Nurses and Doctors for trying to help her. We are now home and she is limping around wondering when we should go back skiing! Not for a while, as she will be 2-3 weeks healing.

Looking Forward to those Days at the Cottage!

Chris and Michelle Campbell just sent me a photo of their grand daughter Alexis, beside the SOLD sign on their lot in Poplar Beach, where they are hoping to build "the dream cottage". Years from now they can look back and say..."do you remember the time that we took your picture here, beside Doug's real estate sign?". Summer will be here soon so we can all start enjoying the summer! Hope the Campbell's enjoy the area and have lots of good memories.

Commercial Rentals for Grand Bend

Every year I get requests from people in London, Toronto, Kitchener of what is for rent on the Main Street of Grand Bend, so before the phone calls start I have made a list of what is available! If you would send me an email requesting this list I would be glad to supply it to you. Just email me at remaxdoug@hay.net. The spring will be here before we know it..

Sales already Happening Here in Grand Bend

Just Sold 9 Warwick Ave. home last weekend and the market seems to be ready to go already this January! The office has been busy for this time of year as most of the agents have had sales already and the listings are starting to come in as well. This Cottage/Home is just 3 blocks to the beach. The second cabin can be rented out year round, weekly or just a great guest house to have the friends in. Both places come fully furnished and ready for the summer fun!

RE/MAX Kickstart in Toronto

RE/MAX is ready for the new year and we were down to Toronto at the Convention Centre this week for the annual Kick Start Sales Rally, with almost 2000 agents. There was a lot of great networking, guest speakers and the outlook for 2010 is great compared to a year ago! The spring market should be very exciting this year with the low interest rates and pent up demand. Perhaps the low inventory of good listings may have an influence on prices but it is still early in the season.

Market Recovery Continues with Record Sales in December

Last month, 438 homes exchanged hands in the jurisdiction of the London and St. Thomas Association of REALTORS® (LSTAR), a 55.9-per-cent increase over December 2008. However, December 2008 had an unusually low sales volume of 281, compared to 375 in 2007, 421 in 2006, 388 in 2005, etc. This anomaly explains the large percentage increase for December 2009. However, it should be noted that this was the Best December sales ever in the history of LSTAR and Listings continued to rise by 12.8% - both of these indicators speaks to the strong recovery in our jurisdiction.