Those farmers work all year round!

I was down to the Port Stanley area last week and ran across these hard working farmers along Lake Erie, taking their corn off! With the early winter that we had they ran into the snow last fall and here they are finally getting their crop off.

RBC Study of Home Buyers

TORONTO, March 4, 2009 — According to the 16th Annual RBC Homeownership Survey, 65 per cent of Canadians think it's a buyers market right now and more than a quarter of Canadians (27 per cent) say they intend to purchase a home over the next two years, up four points from 23 per cent in 2008 - the largest single year increase since 2001. Additionally, almost half (48 per cent) indicate it makes sense to buy a home now versus waiting until next year.
The RBC survey found that younger Canadians are most likely to spark an upsurge in home sales. In the under 35 group, 48 per cent said they plan to buy, which is up sharply from 36 per cent last year. Renters also appear to be saying they are tired of paying someone else's mortgage payment, with 38 per cent planning to become homeowners in the next two years

HOmes Sales Ease in February

Last month, 480 homes exchanged hands in the jurisdiction of the London and St. Thomas Association of REALTORS® (LSTAR), including 382 detached homes (down 30.2% from February 2008) and 98 condos (down 30% from February 2008). Year to date, 626 detached homes and 158 condos have been sold – down 32.3% and 30.4% respectively compared to the same period in 2008. "Although February sales are down 30%, January sales were down 35%," says Joe Hough, LSTAR President. "And the average residential price is down only 2.4%, compared with 2.8% last month. I think that’s encouraging and shows it’s a great time to buy, especially since active listings are up about 23%. There is a great variety of choice available." There is a good selection of Homes and Cottages on the market right now in the Grand Bend area as well. Interest rates are at an all time low and places are priced right!

Lowest Rates in Canadian History

The Canadian Press yesterday reported that The Bank of Canada took its short-term interests rates nearly as low as they can go yesterday, but suggested that may not be enough to rescue an economy downturn that continues to defy projections. The central bank sliced its trend-setting overnight rate half a percentage point to an all-time low of 0.5%. Canada's commercial banks quickly followed suit, cutting their prime rates by half a percentage point to 2.5%, effective today. With rates like this it is a great time to buy!

Housing values from the 80s

Market Values in Canada show that Real Estate Investments have been a good choice over the past 25 years. Now is the time to buy with the low mortgage rates and even lower prices!

London and Area Market Report for January

Active detached home listings for January were up 35.5% with condo listings up 13.7%, so there is a lot of activity for people listing their homes. With the larger supply of listings a more balanced market is happening. Most popular homes being listed were Bungalows followed by 2 stories then Condos. The average price for London is $212,092 making this area one of the most affordable places in Canada, especially when you compare to the average price in Vancouver at $593,000.

January Home Sales Slip

Last month, 305 homes exchanged hands in the jurisdiction of the London and St. Thomas Association of REALTORS® (LSTAR), including 245 detached homes (down 35% from January 2008) and 60 condos(down 31% from January 2008). “The decline in home sales last month is directly attributable to two factors: a drop in consumer confidence due to the down turn in the stock market, not to mention a government in apparent crisis and whole heck of a lot of snow and cold weather,” says Joe Hough, LSTAR President, “A bad month does not mean a bad year and our January 2008 numbers are only the third lowest for January in a decade where real estate sales broke record after record. When the dust on the global economic crisis settles . . . and the snow stops flying, what we’re going to see in London is a more balanced market, with more opportunities for buyers than there have been over the last several years.”