November Sales Cool!

Sales of detached homes dipped 15.9% in November 2012, with 417 homes exchanging hands.  Sales of condos, however, were up 18.8%, with the result that, Year-to-Date, total sales are down only a modest 0.3%.  “With the exception of last month, condo sales have been quite slow over the past half a year,” says Barb Whitney, President of the London and St. Thomas Association of REALTORS® (LSTAR), “so it’s good to see that condos starting to move well again.” Altogether 512 homes sold, down 11.1% from the previous year.

New listings were down 12.9% for detached homes and 9% for condos.  Overall new listings were down 12.1%. Inventory – the number of active listings at month end – was also down 5%. However, “Sales to new listings ratio, a measure of market balance, confirm that our market remains a balanced one,” says Whitney.

Here in Grand Bend we are slowing down as well but the upper end properties have been selling, even in November, so Mark and I have been keeping busy.

SALES COOL IN SEPTEMBER

The real estate market cooled in September 2012, with only 596 homes exchanging hands over the course of the month. Altogether 493 detached homes sold, down 16.3% from September 2011, along with 103 condos, down 8.8%. Altogether sales were down 15.1%

"There was a slump in resale housing activity nationwide between July 2012 and August 2012, with declines reported in about two-thirds of all local markets, including our own," says Barb Whitney, President of the London and St. Thomas Association of REALTORS®. "The data isn't in from around the country yet, but we're likely going to see a similar pattern play out this month as last." She adds,"According to the Canadian Real Estate Association, recent changes to mortgage regulations are just now starting to have a dampening effect upon the market. Now that amortization periods for high ratio mortgages have been shortened, fewer first time buyers can qualitfy for a mortgage than previously. Lower first-time buying activity is a lynchpin of the housing market and its curtailment was bound to have downstream effects over the rest of the market. Year-to-Date home sales are even with last year's.

Our Family has moved into Grand Bend

After 29 years in the same home we have moved into the Harbourcourt community here in Grand Bend. That was a lot of work moving for all of us, especially Jeannette and she never stops working. We have most of the boxes unpacked and it almost looks like home, just have to get a few pictures on the wall to make it complete. I can now walk to the office, grocery store and the beach just have to find time to do that too!

Townsend Meadows Block 5 has started

The foundations are in for the four units in Block 5. They are now waiting for the infloor heating and we are hoping to have the units ready for Christmas.

April sales are Brisk!

Sales last month outstripped those of the previous April by 17.3%, with 716 detached homes exchanging hands and 164 condos. “Although we’re obviously delighted by these figures, we need to put them in perspective,” advises Barb Whitney, President of London and St. Thomas Association of REALTORS® (LSTAR). “In April 2011 sales were down 26.3% from those of April 2010 -- the same month that set an all-time LSTAR record for the month of April, 2010 of 1017 sales. What we’re seeing now is more on a par with previous Aprils going back to the turn of the millennium.”
“Active listings at month’s end were down 4.9%, which is a bit of a departure from what we’ve seen over the past several years and points to a ramping up in activity,” says Whitney. “We continue to see our market as balanced, however – now and for the near future.”

Soup'n Bread Day in London

President Barb Whitney, Melissa from London St. Thomas Association of Realtors (LSTAR) and myself helped feed the homeless in London yesterday. LSTAR sponsored the annual event that was held at the Covent Market in downtown London on York Street. We served goodies, bottled water and Melissa's birthday cake.

National home sales rise in March

OTTAWA – April 16, 2012 – According to statistics released today by The Canadian Real Estate Association (CREA), national resale housing activity edged higher in March 2012.
Highlights:
• Home sales rose 2.5% from February to March.
• Actual (not seasonally adjusted) activity stood 1.6% above levels in March 2011, the smallest year-over-year increase since last April.
• The number of newly listed homes eased 0.3% from February to March.
• While still well balanced, the national housing market tightened due to the rise in activity.
• The national average home price edged down 0.5% on a year-over-year basis in March.
Sales activity over MLS® Systems of Canadian real estate Boards and Associations rose 2.5 per cent from February to March 2012. The increase lifted national activity to its highest monthly level since April 2010.

March sales down slightly

In March, local real estate sales decreased 4.8% over those of previous year, with 623 detached homes and 147 condos exchanging hands over the course of the month. Detached were slightly down by 3.7% and condo’s by 13.3%. “So, while this month’s figures are nothing to get excited about, they are also nothing to be concerned about. Slow and steady wins the race” says Barb Whitney, President, London and St. Thomas Association of REALTORS®.
“The number of active listings at month’s end was up by 2.5% – our inventory or supply of available homes. This is the kind of market REALTORS® like to see – lots of activity. Sellers see that properties are moving at a good pace and buyers have a wide array of choices. In other words, our local market continues balanced.” says President Barb Whitney.

My Monthly Newsletter for March

I try and keep in touch with clients by sending out my monthly newsletter. If you're interested just click on the link! Have a great spring break as well...Doug



Just Click Here for the Newsletter!
Your March - 2012 issue of JustEnuffNews has arrived!

Local Real Estate Association wins provincial Leadership Award

On February 29, 2012, the London and St. Thomas Association of REALTORS® received the award for volunteerism at the Ontario Real Estate Association’s 2012 Leadership Conference in Toronto. The award is intended to recognize and honour a real estate board or association for its exceptional efforts in the area of Leadership and Volunteer Development.
Receiving the award of behalf of LSTAR was 2012 President Barb Whitney, Past President Jack Lane and President-Elect Doug Pedlar.
“Volunteers are the lifeblood of our association,” says Whitney. “That’s why we focus on providing our volunteers with as many opportunities to grow and develop their leadership potential as we can. It’s also the reason why LSTAR is so widely regarded as a leader – and not just in Ontario, but across the country.”

Home Sales forcast from CREA

OTTAWA – March 5 2012 – The Canadian Real Estate Association (CREA) has updated its quarterly forecast for home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards and Associations in 2012, and extended it to 2013.
National home sales activity for 2012 and 2013 is projected to remain roughly on par with the 10 year average for annual activity, as interest rates remain low and further economic and job growth continue to support Canada’s housing market.

Wind Turbine Public Information Meeting

Had a great turn out for the Public Information Session on Wind Turbines, at the Grand Bend Public School on Thursday Feb. 16th., that was put on buy the Middlesex-Lambton Wind Action Group.  I was one of 4 guest speakers at the event, where over 300 people were in attendance. The best speakers were the family that lives around the turbines, the Michard family from Thamesville, who's health has deteriorated since the turbines have been in operation near their hobby farm. Within 2 days of the new turbines starting up, Lisa Michaud was in the emergency room with vertigo and since then the whole family has been sick. These turbines are 1.14 kms. from their home and can be heard inside the house.
We all need to become aware of what we are doing to our environment and that this is not "Green Energy". I have put some of the links on this, but there are more.
http://www.windactiongroup.wordpress.com/

http://www.southhuron.com/news/article/104238

London St. Thomas Association of Realtors Awards the Don Smith Buiding Awards

The winners of the 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 D&H, CBRE, TD Commercial Banking and Honeywell Building Solutions, were announced on February 7 to a capacity crowd at the London Club. According to Greg Harris, RCC Chair, the awards program was established, “to recognize, reward and celebrate excellence and innovation in commercial building right here at home.” The program was named after Don Smith, legendary co-founder of Ellis Don, a world-renowned construction company with London roots.


The 18 entrants to the competition were judged on how environmentally sensitive the individual buildings were; on design and innovation; and on the extent to which they met a specific developmental need within the broader community.
This was a great event that I got to attend as the President Elect for the London St. Thomas Association of Realtors. It was well attended and the Regional council did a great job selecting these outstanding buildings in the London area.

London New Home Starts Higher

LONDON, January 10, 2012 New home starts were up in the London Census Metropolitan Area  in December according to preliminary figures released today by Canada Mortgage and Housing Corporation (CMHC). However, in the year ending December 2011, single-detached home starts were down nearly twenty per cent compared to 2010.
“Single-detached housing starts have been gradually increasing over the last few months on a seasonally adjusted basis,” said Margot Stevenson, CMHC’s Senior Market Analyst. “The strength in both the single-detached and townhouse segments indicates new residential construction ended the year on a positive note,” added Stevenson.

2011 was another great year selling real estate

Just completing my records for 2011 and found that sales ended up very similar to last years! The number of sales were identical to 2010 but the number of listings taken, was up 40%, from 48 to 68 this year. We had more upper end sales this year and with the increase in listings there is more inventory available. Most of 2010 was a balanced market and prices should level off this coming year with the extra listings now on the market. Our average price for this year with the residential market in our office, was $234,200, which is in line with the London area as well. Wishing you and your families all the best for 2012.

Market Stable in 2011

The London St. Thomas Association of realtors reported that 2011 proved a solid year for real estate sales, with 8,048 homes exchanging hands over its twelve-month course -- just 1% down from the previous year. “It was a little slow coming out of the gate, but in the end we finished strong, despite concern over the extent to which global economic worries would impact us locally,” says Jack Lane, LSTAR President for 2011. “December delivered a strong performance as well, with 384 sales, just 0.8% down from the previous December. “We are especially pleased by how well St. Thomas did in 2011,” observes Lane. “Its sales were up 3% over last year’s and its average price rose to $189,413, up 3.7%.”


The average price for a detached home in LSTAR’s jurisdiction at Year End stands at $244,430, up 5.3% from January 2011. The average price for a condo stands at $179,560 year end, down 3.4% from January 2011. Homes in LSTAR’s jurisdiction continue to maintain their affordability compared to other major Ontario and Canadian centres.