Friday, September 23, 2011

Another nephew gets married!

My nephew Adam Samela married his sweetheart Kim at the Pineknott Golf Course in Dorchester. All the Pedlar boys made it to the event and it was a great party!

Tuesday, September 13, 2011

Higher prices for farmland, says RE/MAX Report

Rising agricultural commodity values and tight inventory levels have seriously contributed to a significant upswing in the price of Ontario farmland in 2011, according to a report released by RE/MAX Ontario-Atlantic Canada.
The The RE/MAX Market Trends Report – Farm Edition 2011 found that shortages exist in the vast majority of centres studied, with pent-up demand fuelling unprecedented momentum virtually across the province. Upward pressure on acreage values has been consistent as a result. Of the 12 major agricultural communities examined, 11 (92 per cent) reported tight inventory levels, while nine (75 per cent) noted an increase in price per acre. Despite the current volatility in commodity prices, the long-term prospects for the agricultural industry continue to be bolstered by global realities, including population growth, an international grain shortage and decreased availability of quality farmland from a worldwide perspective. The average farmland price per acre in our immediate area is in the $8,000 - $10,000 per acre range.

Tuesday, September 6, 2011

The London area market heats up in August

The London Free Press reported that home sales in the London and St Thomas area heated up in August, jumping 21.7% compared with the same month last year. The London-St Thomas Association of Realtors said 763 homes sold last month: 620 detached homes and 143 condos. Association president Jack Lane said August sales were above the long-term average of 753 sales for the month. More sellers entered the market; the number of active listings was up 9.8% by month’s end. The market is balanced between buyers and sellers despite the jump in listings, Lane said. “Homes may stay on the market a little longer than they have previously, but the good news is that things are definitely moving.” After a slow winter and spring, the local real estate market has been on the rebound since June. Year-to-date sales are still 2.9 % below January to August last year, but Lane said there’s time to make up the gap. The average sale price for a detached home in August was $237,285, up 1.2% from July.
Most of the Realtors in the Grand Bend area are members of the London and St. Thomas Association of Realtors.