Latest LSTAR News
The London and St. Thomas Association of REALTORS® held its fifteenth annual Homes for Hope® Bonspiel on January 21, 2011 at the Ilderton Curling Club. This popular event is a fundraiser for Mission Services of London.
"One of the principal tenets of the Quality of Life philosophy to which REALTORS® subscribe is our belief that everyone should have access to safe, affordable housing," explains Barb Whitney, LSTAR President. "Mission Services has been providing shelter and assistance to the homeless and disadvantaged in our community for over a half a century. We're proud to be counted among their supporters."
This year's event raised over $11,000 for the charity, bringing the total raised by the bonspiel since its inception to over $113,800 and the total raised by the Association through both the bonspiel and other fundraisers – including the very successful Homes for Hope® pins – to well over $263,800. |
The City of London is pleased to announce renewal of a program offering affordable homeownership. This very successful program, previously known as the "Affordable Homeownership Program" has been renamed "Investment in Affordable Housing – Homeownership Program" and has been improved to offer more Londoners the opportunity to own their own home.
The program consists of an interest free loan for qualifying home buyers to assist with down payment and closing costs.
To be eligible, households must have a gross household income of $55,000 or less, and must qualify for and be pre-approved for a mortgage at a recognized financial institution. The selling price of the home must be no higher than $145,000. In addition to receiving 5% down payment assistance, qualifying home buyers will receive closing cost assistance of 3%.
The Investment in Affordable Housing – Homeownership Program is a partnership between the Government of Canada, the Province of Ontario and the City of London through the Canada-Ontario Investment in Affordable Housing Program (IAH) which offers low-to-moderate income earners the opportunity to purchase a home in London and Middlesex County.
The federal and provincial governments have set a deadline of March 31, 2012 to expend the funding allocated to the City of London.
|
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 London and St. Thomas Association of REALTORS® (LSTAR) and the Ontario Provincial Police have launched a new community policing program – Realty Watch.
"The program has two components," says Sgt. Steve Montpetit, O.P.P. Provincial AMBER Alert Coordinator. "The first has to do with reporting suspicious activity. REALTORS® can report either directly to the police or through Crime Stoppers any suspicious activity they observe in the course of their day-to-day business ... and that's potentially very useful when you consider how much crime takes place during the day when people are away at work."
|
The London and St. Thomas Association of REALTORS® is proud to announce that the "Home at Last" Affordable Home Ownership Partnership spearheaded by the Association back in 2005 has received the coveted Pillar Community Collaboration Award, presented on November 15, 2011, at the London Convention Centre, before a sold-out crowd of 500 guests.
|
|
|
A career in real estate
Find out how you can become a
LICENSED PRACTITIONER
contact OREA (Ontario Real Estate Association)
The OREA Real Estate College has already announced a series of "GUARANTEED DATES" for 2011. Click here to see the schedule listing the licensing courses that are guaranteed to run in 2011 in our area.
A career in real estate can be rewarding but demanding. It requires commitment, discipline, motivation, enthusiasm, flexibility and hard work. It is not suited for those who want an easy nine-to-five job.
Real estate salespeople must be enthusiastic self-starters, continually developing leads and cultivating clients/customers. Are you willing to make many sacrifices in your daily life?
There is no quitting time, the phone will ring at any time of the day or night. Are you prepared to arrange your personal schedule to suit consumers' needs?
Most real estate salespeople earn their income by commission. They may make a sale one week, then not another for two months. Can you budget money to last between sales?
Keeping up on changing market conditions, financing, procedures, technology and laws are essential to servicing consumers' needs. Continuing education is mandated. Do you believe in life-long learning?
You may be a good candidate for real estate if you possess the following traits:
A good communicator - It is essential to be a good listener and communicator to provide the best possible service to buyers and sellers.
Self-motivated and flexible - You have to be devoted to your profession and willing to make necessary sacrifices to be successful. It requires hard work and a high level of self-motivation to go out every day to find listings, to build up a solid client base, to meet the needs of your clients, no matter the hour or day.
Confident - There are good and bad days in real estate. You must be able to handle rejection; maintain a mature and objective attitude in the face of disappointment.
Professional- Everything you do in your real estate career reflects on you, your brokerage and the profession. You will be relied upon for your trustworthiness and good business ethics.
Service Oriented - Your success will be based on your ability to be professional, helpful and reliable at all times. Only satisfied clients will give you referrals - the foundation of a long and successful real estate career.
Multi-tasking - We think ‘multi-tasking’ was created by REALTORS®. These skills are essential for a career in real estate.
Math - Knowledge of math fundamentals, with proficiency in multiplication, division, fractions and factors, is essential. You must use these skills to measure area and land, as well as appraise property and advise on mortgage financing.
Planning and organization - Juggling a busy and often conflicting schedule of showing properties, taking listings, evaluating property, handling offers and negotiations, and responding to consumer enquiries are the order of the day for a REALTOR®. Your reliability in this area is essential for success.
English language proficiency and comprehension - Communicating with consumers, understanding and completing real estate documents, presenting clearly defined Offers to Purchase are essential to your business. Listings in particular must contain all essential data in order to be understood by someone who has never seen the property. This having been said, being proficient in other languages can be a real asset when dealing with special populations.
Research - The ability to search for and understand legal documents is a necessity in real estate.
Negotiation and problem-solving - You must handle problems quickly and credibly, particularly when negotiating an offer to purchase. In order to close a deal, you must bring sellers and buyers to a mutually acceptable and successful agreement.
Computer proficiency - It is vital to have basic computer and internet skills to access data from the MLS® and other proprietary systems. The need to have these skills becomes more essential every day.
Excellent people skills - The hallmark of the real estate profession, people skills are essential to establish a good and sincere rapport with buyers and sellers. It's important that you enjoy working with people, be genuinely interested in them and be quick to understand their needs and wants.
.
.
This information is provided by the London and St. Thomas Association of REALTORS®.
The information herein is believed to be accurate and timely, but no warranty as such is expressed or implied.
|
