2018 has shown continued rises in average home sale prices in Sarnia, Lambton. We should end up with $300,000 to $325000.00 as our medium price point, locally. We are starting to be on par with Windsor-Essex, but still well below the rest of the province and the national average. This indicates to me that newcomers are discovering the many benefits of buying and settling in the south west water front corridor of Ontario. Retirement living and affordable housing, combined with our moderate weather, seems to be the biggest draws .
Quite often lately buyers find themselves competing for a home with multiple other buyers, when a home is competitively priced, thus creating a “bidding war”. Several offers for the same home are submitted, each trying to outdo the others. Buyers participate in a blind bidding process where they submit an offer hoping they are not outbid. Sometimes they are asked to raise their bid without any details about the alternate offers. Some buyers remove conditions from their offer that are designed to protect them, hoping to make their offer more attractive to the seller.
Fall is the time of year when home owner’s begin creating their renovation wish lists, and start planning their home’s make-over. October is renovation month, and there are an abundance of people and ideas, all offering advice on what to do, and where to spend your hard earned dollars. Before you spend a dime, you should consider several factors carefully, so the dollars you spend will increase the value of your home as well as your enjoyment.
More and more often we are seeing newly renovated, vacant homes, come on the market that were previously sold only weeks before. These are called flip houses, a house that somebody has purchased, renovated, and put back on the market for a profit.
A good question by buyers, rarely asked, is if there are any little known problems with the neighbourhood where they are house hunting. The traditional questions “What are the neighbours like?”, “Is the neighbourhood quiet?”, “What is the school district?”, “Is it a safe neighbourhood?”, are all important to get answered, but there are other areas that can lead to serious concerns later, if not investigated before you buy.
All around Ontario there is talk of a “housing price bubble” and a “hot seller’s market”, along with the fear of prices collapsing. In Sarnia, Lambton we have only seen a slight increase in home values and solid house sales. Some people are wondering why prices are going up in our area, when our population seems to be stable with near zero growth. There are several factors influencing the local real estate market, including retirees coming in from other areas, as well as newcomers replacing our retiring workforce.
Occasionally, after the long process of searching and finding that home that fits your needs, the home inspection report uncovers several items in need of repair or correcting. Your offer was subject to receiving a satisfactory home inspection report, but what happens when the report reveals problems? This is where an experienced realtor that you trust is helpful. You don’t want to walk away from that near perfect home you found, but you do not want to get stuck with the extra after sale costs of correcting the problems.
Sarnia- Lambton is experiencing some record breaking real estate sales volumes, and in some cases record high sale prices. Some neighbourhoods and home owners are being solicited every day by realtors or individual people looking to move into desirable neighbourhoods. You could get touching letters from possible buyers, or compelling letters from realtors claiming to want your home or to have someone to purchase your home.
A few critical steps need to be followed when you attempt to sell your home for top dollar, and in a timely manner. Begin by letting go of the emotional attachment to your home, and try looking at it from a buyer’s perspective. Here are ten points to consider.
Sarnia -Lambton has between 150-200 new homes built and sold every year. Each and every one of them should come with a new home Tarion warranty. But remember that although the warranty is always identical for every builder,there are good builders and poor builders, as well as inexpensive builders and overly expensive builders. The warranty is only as good as the builder behind it. Getting a builder that will come back and service your needs is important. Most new builders must take several courses from an accredited college, and must pass exams.