London Ontario Real Estate

North West London Home with POOL

Jim Straughan — Thu, 01 Apr 2010 18:31:00 GMT

OAKRIDGE HAS THE PERFECT HOME (with heated pool) FOR THE PERFECT FAMILY !! THAT COULD BE YOU !!! Welcome to Oakridge. What a great area to raise your family in. Young families love living in this area and older families as well. Our home, only 9 years old, is situated within Huntington, one of the nicest, area of Oakridge. Most homes are 9 years or older so there is a mature sense of landscaping to the area. Homes have been well taken care too with lovely landscaping. Our home is one of those, BUT,...(read more)

Real Estate Mobile App for Android and the Future of the traditional Realtor

Jim Straughan — Sun, 21 Mar 2010 16:25:00 GMT

Let's face it, we as consumers have allowed google to affect nearly all aspects of our daily lives and continue to do so at an ever increasing rate. People cheerfully give google information that can create profiles for their spending and browsing habits. If you know were someone lived, where they went to school ,where they worked, when they bought there present house, what web sites they visited for personal, professional and online buying could you predict what price range neighbourhood ,and even to some degree even when someone would likely buy their next house, car or take their next vacation ?

In the possible near future scenario outlined above what would the role be for the realtor?

The standard reply might well be that people are always going to need someone to get there home on the syndication service to populate the listing on google maps (and or yahoo , msn bing etc )show the house to the prospective buyer, be the local expert, send them flowers after they move in etc.

But will the consumer need the traditional realtor in the near future?

Zillow or others offer sales information to the prospective buyer or seller so they can fill in the form for such offered by google or one of there affilates.Home seller than contacts realtor or other service provider to get there home listed on google maps complete with attached form to describe said home with link from tax assessment sales and or Zillow type provider to justify there price based on recent local sales.

Buyer prospect googles homes for sale google via local search takes buyer to homes in his area and likely price range based on buyers local search profile .If buyer is moving out of area no problem ,search adjustment done and noted with additional search\demographic information supplied to google in the process .

Buyer can now call his Realtor or call the home buyer directly to view home.

Offer Time: Forms for offer can be filled in online with extensive help menu, google offers link to local lawyers to have an offer emailed to for his or her legal opinion.

Or buyer can call his agent.

Again google makes a wee bit from referrals or an ad sense ad from the web page as google ties in home inspecters, movers, home stagers etc.

How many of the traditional roles of the realtor can be automated or offered online? Even the customary sending of flowers from a realtor (which google could get a piece of) can be supplied or automated now or in the not too distant future.

Were does this leave the traditional realtor?

Strategies For First Time Home Buyers

Jim Straughan — Tue, 02 Feb 2010 02:27:00 GMT

Getting Your Foot in the Door. Home ownership is the cornerstone of financial independence and security. It may seem a daunting prospect to younger people or first-time buyers, but it is achievable. Like many would-be homeowners, you may be wondering how you can possibly afford to buy your first home. Even if you think you can’t afford a home, these saving tips and financing strategies can take you there sooner than you think and turn you from a renter into an owner. Develop a culture of saving The first priority for you should be to develop a culture of saving. This not only helps you in budgeting and planning for the future, but also to satisfy banks and other lending institutions that you have a clear commitment to save. Start an automatic saving plan Saving for a down payment can be a financial challenge but it’s a step forward to owning your dream home. Make saving automatic by setting up an automatic savings plan at your bank to regularly move a specific amount of money directly from your chequing account to a savings account. You’ll be surprised at how much you can save and how quickly the “pay yourself first” approach adds up. Borrow from yourself The federal government’s Home Buyer’s Plan (HBP) lets you borrow from your Registered Retirement Savings Plan (RRSP) to help purchase your first home. You and your partner can each withdraw up to $20,000, provided it’s not locked-in and the money has been in the RRSP for at least 90 days. You have to repay the loan in installments over the next 15 years to avoid a tax hit. Take a holiday from tax If you open a new Tax-Free Savings Account (TFSA), you won’t pay any tax on earnings, which will help you compound your savings. You can contribute up to $5,000 a year to a TFSA, and save for anything you like, tax-free. Review your mortgage options Once you make the decision to purchase a property, the next choice is the type of loan to suit your budget. The two most common types of loans are the variable interest rate loan and the fixed interest rate loan. You can now choose to pay back your mortgage over 25 or 30 years, instead of the traditional 20-year amortization period. This means you will pay more interest over the long term, but you can reduce monthly payments to get into your starter home. You can always change this later, once your income rises and you can pay your mortgage down faster. Get into a starter house Try to be as flexible as possible when choosing your first home. Unless you are status conscious, your first home doesn’t necessarily have to be your dream home. You could settle for a starter home, which you can afford with a small down payment and easy mortgage installments. There are plenty of lower-priced houses out there in need of repair, with some "Do-It-Yourself" projects where you can add more value to the house. Just be careful not to buy a place where the cost of repairs will eat up any profits you might make when you sell. In just a few years you will build enough equity in your starter home to make it easier for you to sell and move into to your dream home. Buying your first home is an exciting process. After all, your home could be the largest asset you’ll ever own. Being able to finance most of its cost will take a load off your back in the future.

Welcome to Komoka Ontario

Jim Straughan — Tue, 17 Nov 2009 02:56:00 GMT

Komoka is located within a 10 min drive to London Ontario and is a small community of less than 500 people .The community closest to Komoka is Kilworth is scant minutes from Komoka to the East and between Komoka and Byron which is considered part of London. . Komoka has all the amenities of city life in a relaxing village setting .Some of the amenities are community centre, grocery store, library, daycare and public school and restaurants all within walking distance. Of significance to local residents is the building of a new arena to service the surrounding Middlesex area. As well within the vicinity are numerous ponds and the Thames River is within walking distance for anglers and nature lovers. The towns of Delaware and all Mount Bridges are to the south and west of Komoka. Immediately east of the Thames River on Glyndon Drive is a Komoka Park which is an excellent little park where you can find people riding horses, walking their dogs are just taking in the breathtaking scenery. If you are a golfer there are major golf courses within minutes of downtown Komoka such as below. Twin Streams Golf Course , The Oaks Golf & Country Club, Fire Rock Golf Club, Oxbow Glen Golf & Country Club Of interest to new home buyers is the fact that Komoka taxes are significantly lower than those of an equal property in London Ontario. Although comparisons are difficult to make due to the fact that the lots we are building on in Komoka are much larger than similarly priced lots in London. Bottom line is big lots low taxes great place to live! Another positive consideration is that the builder I'm working with in Komoka is Condon Homes. Scott and Bob Condon are third-generation builders in every sense of the word. They are what I call real builders, in that they actually build your home, they do not sub out the building of your home to a site manager. Also most homes we build our actually custom designs that are designed by Scott Condon. Scott is the only builder I know of that other builders come to for designs and drawings. Although Komoka is not well-known to the general population in the London area and strangely enough many London realtors, it may well be worth your while to do some research on Komoka as a potential home. As someone who lives in the Komoka area and is a realtor who has assisted numerous people into the area I can say that all of my Komoka and Kilworth clients are keen ambassadors to the benefits and lifestyle of the area. Come see why people do not want to return to the city once they live in Komoka.

Price Reduced on 137 WHITEACRES CT in Lawson Estates

Jim Straughan — Tue, 17 Nov 2009 01:33:00 GMT

Lawson Estates, London - Announcing a price reduction on 137 WHITEACRES CT, a 5 bath, 5 bdrm ranch "Executive Style". Now MLS® $525,000 CAD - Sharp price.

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Can you beat this New Home In Komoka for value ?

Jim Straughan — Fri, 13 Nov 2009 21:40:00 GMT

Real Estate and information for Komoka Ontario

Komoka has all the amenities of city life in a relaxing village setting .Some of the amenities are community centre, grocery store, library, daycare and public school and restaurants all within walking distance. Of significance to local residents is the building of a new arena to service the surrounding Middlesex area. As well within the vicinity are numerous ponds and the Thames River is within walking distance for anglers and nature lovers.

The towns of Delaware and all Mount Bridges are to the south and west of Komoka.

Immediately east of the Thames River on Glyndon Drive is a Komoka Park which is an excellent little park where you can find people riding horses, walking their dogs are just taking in the breathtaking scenery.

If you are a golfer there are major golf courses within minutes of downtown Komoka such as below.Twin Streams Golf Course , The Oaks Golf & Country Club, Fire Rock Golf Club, Oxbow Glen Golf & Country Club.

Of interest to new home buyers is the fact that Komoka taxes are significantly lower than those of an equal property in London Ontario. Although comparisons are difficult to make due to the fact that the lots we are building on in Komoka are much larger than similarly priced lots in London. Bottom line is big lots low taxes great place to live!

Another positive consideration is that the builder I'm working with in Komoka is Condon Homes. Scott and Bob Condon are third-generation builders in every sense of the word. They are what I call real builders, in that they actually build your home, they do not sub out the building of your home to a site manager. Also most homes we build our actually custom designs that are designed by Scott Condon. Scott is the only builder I know of that other builders come to for designs and drawings.

Although Komoka is not well-known to the general population in the London area and strangely enough many London realtors, it may well be worth your while to do some research on Komoka as a potential home.

As someone who lives in the Komoka area and is a realtor who has assisted numerous people into the area I can say that all of my Komoka and Kilworth clients are keen ambassadors to the benefits and lifestyle of the area.

Come see why people do not want to return to the city once they live in Komoka.

Note the home below is on a 78 X 111 ft lot

Price Reduced on 253 ASTORIA PL in Chesham Heights

Jim Straughan — Sat, 12 Sep 2009 14:35:00 GMT

Chesham Heights, London - Announcing a price reduction on 253 ASTORIA PL, a 3 bath, 4 bdrm 2 story "Well built home". Now MLS® $289,000 CAD - Reduced for quick Sale.

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Ranch For Sale in Lawson Estates

Jim Straughan — Sun, 23 Aug 2009 16:28:00 GMT

Rare find

• 5 bath, 5 bdrm ranch - - Sharp price

Lawson Estates, London - Preferred North West London location in Lawson Estates, full of great workmanship and many fine details.Impeccable brick ranch/large principal rooms hardwood and ceramic throughout. This immaculate custom built Executive home features a gorgeous foyer with double lead glass doors (front) and skylight. Long hallway with quality built oak staircase leading to basement. Open concept kitchen – dinette and family room with unique fieldstone gas fireplace. High quality oak cabinets, granite counter top and modern glass backsplash. Big dining room and living room include French doors, all door trim is oak. Furnace ‘07, shingles roof ‘08 (30 years), new deck 2009. Luxury en-suite with Jacuzzi in master. New larger windows ‘08, outside garage entrance with staircase to bright basement with large windows! Ideal for nanny/inlaw suite or great teen retreat all ready with built-in glass cabinets, wood fireplace etc, etc.

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Single Story For Sale in Komoka Green

Jim Straughan — Fri, 21 Aug 2009 16:31:00 GMT

• 2,200 sq. ft., 3 bath, 4 bdrm single story - $359,000 CAD - Priced to Sell

Komoka Green, Komoka - Built by Scott Condon of Condon Homes as his residence .Open concept from kitchen
to family room .Very practical layout with little wasted space .
Price includes new aspalt drive .Beutiful recent landscaping with plenty of flowers to professional standard .Large 70 x 145 ft lot on a quiet cull de sac .Close to daycare ,shopping,library,community cenre and walking distance to public school .Low taxes and a great community to live and raise a family in .Once you live in Komoka you will not want to leave !

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Price Reduced on 8 Heather in Komoka Green

Jim Straughan — Fri, 21 Aug 2009 16:31:00 GMT

Komoka Green, Komoka - Announcing a price reduction on 8 Heather, a 2,200 sq. ft., 3 bath, 4 bdrm single story. Now $359,000 CAD - Priced to Sell.

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Price Reduced on 60 SHAW BL in Lynhurst Sold

Jim Straughan — Mon, 23 Feb 2009 20:41:00 GMT

Lynhurst, Central Elgin - Announcing a price reduction on 60 SHAW BL, a 3 bath, 2 bdrm single story "Spacious Raised Ranch". Now MLS® $197,900 CAD - Priced to Sell.

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$ 50,000 Price Drop ! Horse Farm

Jim Straughan — Wed, 14 Jan 2009 15:55:00 GMT

Vendor wants it sold ! Great location close to London ,Bryon,Komoka,Kilworth .Only 10 minutes to Maisonville .

Follow the link below to view this listing and call me direct for your chance to view this once in a life time oppurtunity !

http://www.straughan.ca/Lobo/Ontario/Farms_and_Acreages/Komoka/Lobo/Agent/Listing_2018805.html

Jim Straughan
Sales Representative
Realty Executives Elite
voice 519 641 4355
Email jim@straughan.ca
London & Middlesex Real Estate
www.straughan.ca
Endurance is one of the most difficult disciplines, but it is to the one who endures that the final victory comes.

Price Reduced on 22551 JURY RD in Lobo

Jim Straughan — Wed, 14 Jan 2009 15:53:00 GMT

Lobo, Middlesex Centre - Announcing a price reduction on 22551 JURY RD, a 2,200 sq. ft., 3 bath, 4 bdrm 2 story "All Brick". Now MLS® $589,900 CAD - New Price ! MUST BE SOLD.

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Price Reduced on 9 HEATHER in Komoka Green

Jim Straughan — Fri, 14 Nov 2008 17:46:00 GMT

Komoka Green, Komoka - Announcing a price reduction on 9 HEATHER, a 2,200 sq. ft., 3 bath, 4 bdrm 2 story "Custom Design". Now MLS® $340,000 CAD - Priced to Sell !.

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New Home Price Reductions Komoka Ontario

Jim Straughan — Fri, 14 Nov 2008 17:46:00 GMT

Wow ,the builder says get them SOLD ! Big price reductions on our existing ranch and two storey model homes .

Carpet ,flooring,paint colors can still be picked ! Or bring us your plans to build your dream home in an idyllic setting .

Call today for your private showing of these amazing deal in Komoka ,just down the road from Kilworth which sscant minutes from Bryon and London Ontario

Single Story For Sale in Komoka Green

Jim Straughan — Fri, 14 Nov 2008 17:39:00 GMT

Pick you colours ?

• 2 bath, 3 bdrm single story - MLS® $348,000 CAD - Price Reduced !

Komoka Green, Komoka - 1670 sq ft approximately. Looking for a large lot and low taxes with superior workmanship? Komoka has everything from shopping, restaurants, ambulance, daycare, elementary school, library, community spirit, all within 10 minutes to Byron and 15 minutes to London.One of a kind desighn by Scott Condon.Flooring,colours still can be picked approx . 60 days or less to finish .. hurry before it is gone !

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Price Reduced on 116 PRINCE ST Komoka in Komoka Green

Jim Straughan — Fri, 14 Nov 2008 17:39:00 GMT

Komoka Green, Komoka - Announcing a price reduction on 116 PRINCE ST Komoka, a 2 bath, 3 bdrm single story. Now MLS® $348,000 CAD - Price Reduced !.

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Timely Insight from the past

Jim Straughan — Mon, 10 Nov 2008 03:26:00 GMT

HOW SPOT-ON IS THIS?

Quote of the Week
'I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered.'
Thomas Jefferson 1802

Horse Farm For Sale in London -Komoka

Jim Straughan — Thu, 02 Oct 2008 19:13:00 GMT

• 2,200 sq. ft., 3 bath, 4 bdrm 2 story "All Brick" - MLS® $649,000 CAD - Great Price

Lobo Siding, Lobo - Horse farm 21 acres backing onto golf course ,five minutes west of Hyde Park, fifteen minutes to University of Western Ontario & Downtown London Ontario. Five minutes to Komoka and Byron,Great neighbors ,comunity and close to preferred schools with busing from the drive way .This is a unique real estate offering ! Large 7 stall barn, 70 foot by 168 foot indoor arena with heated tack & viewing room, outdoor 200 x 100 riding ring, three large pasture fields. Beautiful hardwood bush with trails, all brick four-bedroom three bath two-story home in excellent condition. If you have horses or want horses : this is the property for you ! Don`t delay this hard-to-find property will not last long.

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Price Reduced on 20 Earlscourt Kilworth in Kilworth Off market

Jim Straughan — Thu, 24 Jul 2008 00:24:00 GMT

Kilworth, London - Announcing a price reduction on 20 Earlscourt Kilworth, a 3,200 sq. ft., 4 bath, 4 bdrm single story. Now $625,000 CAD - Below Replacement.

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Price Reduced on 183 EMERSON AV in Glen Cairn Woods

Jim Straughan — Mon, 14 Apr 2008 01:09:00 GMT

Glen Cairn Woods, London - Announcing a price reduction on 183 EMERSON AV, a 2 bath, 2 bdrm single story "Great First Time Buyer". Now MLS® $156,000 CAD - Wow .. why so cheap ?.

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Buying Simulation with Closing Costs break Down

Jim Straughan — Thu, 13 Mar 2008 20:19:00 GMT

Okay here we go for a $129,00 Condominium listing .

This was originally written for an investor client of mine new to investing in Ontario, however whether you are an investor or first-time home buyer hopefully this will prove illustrative of the buying process.

Keep in mind this is for informational purposes only .

Purchase Price of $125,000 with 20 % down payment or $ 31,250 ,first mortgage of $ 93,750,taxes of $1410\year($117.5\mnth),condo fee $ 4020\year($335/mnth)

tenants pay all utilities and contents insurance .Keep in mind that typically lenders will require mortgage loan insurance if a borrower has a down payment of less than 20% of the purchase price of the home.For more information regarding mortgage insurance go to the link below .

http://www.cmhc-schl.gc.ca/en/corp/

for investment options check out this link

http://www.cmhc-schl.gc.ca/popup/rcalc/frame.html

Closing costs

Lawyer approx.$2200 including Land transfer tax

Partial break down of costs

Land transfer tax $1050 for more info on land transfer tax http://www.rev.gov.on.ca/English/taxes/ltt/

Title Insurance $270

Search $125

Actual Lawyers Fee $500

for land transfer tax and mortgage calculations go here

http://www.straughan.ca/Calculators/page_656375.html

for interest rates

http://www.cannex.com/canada/english/mort/mort02.html

Payments before management,vacancy and maintenance (at least 1 mnths rent for expences)

Loan Amount:	$93,750.00
Loan Insurance ( 0%):	$0.00
Total Loan(Mortgage) Amount:		$93,750.00

Principal & Interest:	$583.20
Homeowners Insurance:	$0.00
Property Taxes:	$117.50
Condo Fees:	$335.00
Monthly Loan Insurance (0%):	$0.00
Total Monthly Payment:		$1,035.70

Thus Income $ 1600.00

Less Payments $ 1035.70

Monthly Cash Flow $ 564.30

I didn't go into detail regarding expenses such as property management, maintenance and vacancy due to the wide variants in expenses for individual small condominium units such as the unit this unit was based on. Specifics such as the age of the unit and its appliances etc. very widely and as I mentioned in previous correspondence the physical location would have a strong bearing on the vacancy and management costs .

If you have further questions please feel free to contact me.

Regards

Jim Straughan
Sales Representative
Century 21 First Canadian
voice 519 641 4355
Email jim@straughan.ca
London & Middlesex Real Estate
www.straughan.ca

Investing Rules

Jim Straughan — Wed, 12 Mar 2008 03:40:00 GMT

Recently I penned this paragraph in response to a request for information from one of my clients. Keep in mind this was written specifically in regards to the student rental investment for the London market specific to the University of Western Ontario.

However the core theme of these rules I believe it can be applied to different investment scenarios .

Let me know what you think!

Before my children were born I had student rentals, I sold them shortly after the birth of my children i.e. my twins as time did not allow for proper management . If I had been able to stay with my plan for purchasing rentals I would be in a position of semiretirement at present if I so chose.

I had a number of rules for investment which served me well at the time and I believe are still very valid today. Over the past 19 years having watched numerous people come and go in the student rental investment endeavor, I am more convinced than ever that these following rules will keep any investor out of trouble and on the road to making money over the long term with minimal aggravation.

Firstly, familiarize yourself with the geographic location that will allow you to charge the higher end of the market rents and which will allow you to keep the units rented year-round minimizing vacancy. As well, units that are in more difficult areas to rent will incur higher management costs as well as greater periods of negative cash flow due to vacancy.

Secondly, have a plan in terms of how long you're going to hold these properties and stick to it as money is made in this game over time, the more time in, the more money you make. An old Chinese saying is that it is never wrong time to buy property only a wrong time to sell .

Third and perhaps most important of all work with an agent or realtor\property manager who you can trust in terms of knowledge, experience and professionalism.

Fourth and final rule, do not break rule number 1, 2, 3 or 4, there is no point in having a plan if you do not execute it !

Closing cost analysis & single-family versus multifamily investment properties

Jim Straughan — Thu, 17 Jan 2008 00:27:00 GMT

I thought I would post this e-mail I sent to buyer from Tel Aviv Israel who is looking to purchase investment properties in London. Recently I have been getting increase and working with people from all around the world who are looking to purchase properties in London. The reasons they mention for being interested in our fair city and surrounding area is that it's a very stable market , the vacancy rates are low and the prices versus income compared to other areas of Ontario are very attractive to them. As well I have dealt with buyers recently from other parts of Canada, notably Western Canada.

Greetings

The following summary is based on the purchase of a $215,000 building in London under two years of age. The first set of costs would relate to the actual purchase cost and the second would relate to the ongoing annual expenses. Although I put a dollar figure in for maintenance but considering these homes are approximately 2 years old maintenance should be very little for the first few years.

Property management can be 6 or 7% or anywhere from one month rent to 1 1/2 months rent.

My fee is usually paid by the seller.

Closing Costs

Land Transfer Tax $ 1875

Lawyers fee and disbursements $ 800

Home Inspection ( optional ) $ 400

Mortgage Fees depend on the company

and may be waived by some.

Title insurance $ 500

$3,575

Expenses & Pro Forma

House insurance $ 400

Vacancy

5% of $1200 a month times 12

multiplied by 5% equals $720

Property Tax $2279

Maintenance investors typically have

different numbers or percentages

for analysis purposes $ 500

Property Management $1200

$ 5,099

monthly rent $1200 x 12 = $ 14,400 - $ 5,099 (expenses) = net income of approximately $9301 yearly before mortgage and income tax

In regards to which is the better option a multifamily unit renting to students or newer single-family homes... a tough question !

I would say it probably boils down to more of a preference versus which is better or less risky. If one can find a multifamily unit close enough to say the University of Western Ontario or Fanshawe College you vacancy rate should be relatively low to nonexistent. However your maintenance costs and management expenses would be considerably more. Which of the two would have a better appreciation or price increase or the years? Again really tough question, it would depend on where you are in the real estate cycle I have seen new homes that we have built(I work with a builder) gain as much as $20-$30000 in one to two years. As well I have seen investment properties jump in price rather steeply over short period of time, depending when you're looking at the price graph.

However most wise investors look at real estate as a long-term investment and as such I would say the two options are relatively equal. If I was going to speculate which is always a risky endeavor I would say homes that are being built new at present have the best chance for short-term appreciation if one knows where to look.

I hope the above answers your questions, if you have any other requests for information on any property please feel free to e-mail me .

I look forward to meeting and working with you in !

Regards
Jim Straughan
Sales Representative
Century 21 First Canadian
voice 519 641 4355
Email jim@straughan.ca
London & Middlesex Real Estate
www.straughan.ca

Single Story For Sale in Downtown London Sold !

Jim Straughan — Thu, 13 Dec 2007 03:14:00 GMT

Central Location

• 5,000 sq. ft. single story - MLS® #409835 $359,000 CAD - Below Replacement

Downtown London, London - Mailing address 209 Horton. Was Burkes Flowers business, not for sale. Great location for new Flower Shop. Close to downtown. Available immediately. Purchaser to verify all measurements & information supplied by listing agent. Also for lease at $6.5/sq ft. Suitable for various uses .Motivated vendor.

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