Alex Gurchin

I received an email from the office last week stating that someone had visited our Keller Williams Lifestyles Realty website, and was interested in a CMA on their London, Ontario home. I responded to the email, made a follow up call and set the appointment. Then I began my 'homework.'

In the area over the past two years, only one home had sold on the same street. The entire neighbourhood is the same...ranch style homes with or without a garage, 3 bedrooms, 1.5 baths, a rather easy search for a CMA. I even did a drive through and noticed that most homes were quite similar. So, I was pretty confident when I arrived at my appointment that the value was somewhere between $180,000 and $190,000. The most recent sale on the same street 5 houses down was $180,000 in June of this year.

After some small talk, we got down to business. As we sat at the homeowner's desk, I noticed that he was reading a book, so I asked what it was. It turned out to be on the subject of investing in real estate. I thought 'Great! I love working with investors!' Turns out it was another investor book written in the US that really didn't apply to Canadian investing as we haven't different laws and rules. The homewoner has plans on borrowing against the equity of his London, Ontario home to make his first investment purchase. So, on we went with the CMA.

The mortgage on the subject property is $190,000. Some bank had appraised the property somewhere between $220,000 and $230,000. The highest comparable that I had found was $180,000 without a garage, where the subject property had a single detached. The homeowner's own relatives had recently purchased a similar property 7 months prior for $194,000. The homeowners had also turned a 3rd bedroom into a bathroom, making it a 2 bedroom home surrounded by 3 bedroom homes. The two basement bedrooms were not legal as one had no window and the other had a window that didn't meet regulations to be considered a bedroom. And there I was with everything showing a value between $180,000 and $190,000.

This homeowner's hope was to have his house appraised high enough so that he could borrow against the equity to purchase his first investment property. This meant that;

* I would have to show their house was worth $250,000

* in a neighbourhood that hasn't had a recent sale above $190,000 on similar properties

* so they could borrow $22,000 more on top of the current $190,000 mortgage

* in order to purchase an investment of around $100,000 because

* in London, Ontario banks will only lend up to 85% of the appraised value of a property and

* the second home requires a 20% down payment.

I left the appointment feeling very good about myself as I had told the owners what they needed to hear, not necessarily what they had wanted to hear. I will stay in contact with these homeowners with the hope that I will be able to help them sometime down the road. Not every appointment turns into a listing, and I'd much rather turn someone down now rather than let them down in the future ;^)"

Dear First Time Home Buyers,

Now that you've decided to purchase your first home in London, Ontario, and you've hired a professional Realtor to be your Buyer Representative, there are a few things you need to do, and not do.

1 - DO NOT go out and make a significant purchase such as a car, and DO NOT buy anything on extended credit that you can pay in a year or two. This will affect your borrowing limit and credit for a mortgage. Please wait until after we get you moved in to your dream home.

2 - DO NOT take all the free advice from friends and family. I know they believe they know, but they don't. If you're serious about purchasing your first home in London, Ontario, NOW is the time to buy. No one knows when the market will 'bottom out,' and if you wait, you will end up making your purchase when homes are on the rise again. If you believe you've hired the right professional Realtor, feel comfortable that they know what they are doing.

3 - DO relax and allow your professional Realtor to be your Consultant, your Negotiator and the person that oversees all the transactional details for you. If you've hired the right professional Realtor to represent you on your first home in London, Ontario, your best interests will always be put ahead of their own.

4 - DO enjoy the experience. I understand it can be a stressful time, but it doesn't have to be this way. If you've provided your professional Realtor with your 'Wish List' of needs, wants and desires, and you've been pre approved by a great mortgage broker, get out there with your professional Realtor and look at some London, Ontario homes that meet your criteria.

5 - When you find your first home in London, Ontario and you can see you and your family living there, DO make an offer. Allow your professional Realtor to negotiate the price, terms and conditions for you. Allow your professional Realtor to walk you through the process. Allow your professional Realtor to set up appointments with a home inspector, your mortgage broker/lender and your lawyer. And, just relax and enjoy the experience.

It really can be this simple. The right professional Realtor has the contacts you will need to make this a fun, enjoyable experience, such as a Mortgage Broker, a Home Inspector and a Lawyer that have the experience you will require. For your personal no obligation Initial Consultation, just click on any of the links provided above and below.

If you love the seasonal fruits and vegetables, you have to visit The Trails End Farmers Market in London, Ontario. I've been going there for years, and every year, I look forward to this time of year. Juicy tomatoes, crunchy cucumbers, sweet sweet corn, delicious apples, fresh soft squishy breads and buns ( 3 bags for $5 ), steaks as this as your hand, pepperettes, thick sliced lunch meats, kabobs and ribs...oh, the ribs. But, it's the deals that keep me going! Where else can you get an entire flat of tomatoes for $5!! Or a pail full of peppers for $10! If you do any canning or pickling, this is the place to go!

This was one of my recent hauls at The Trails End Farmers Market in London, Ontario. Green onions for a quarter, Strawberries for a buck, Pineapple for 2 bucks, and everything you see above was under $20!! 10 pounds of porkchops for $20, the best feta cheese I've ever eaten for 6 bucks, a nice chunk of 7 year old cheddar for 6 bucks. You just can't get food this fresh, and this cheap, at any grocery store in town. Believe me, I've price shopped, and nothing beats Trails End Farmers Market in London, Ontario. And if you're looking for frozen foods, there's an entire section just for you.

They also have great food to eat both inside and out. Hotdogs, sausages, fries, noodles and spring rolls, burgers, pizza, pastries and much more. There is a place to buy animal food, shoes and boots, plants, and odd's'n'ends are throughout the market. And, if you're looking for some high quality Mennonite furniture, look no further than The Trails End Farmers Market in London, Ontario.

If you're looking for a tour guide, or want to learn the fine art of 'haggling', I'm there every Saturday with my family. Drop me an email at the link provided, and don't forget to click the link below to follow me on Twitter ;^)"

So, you're thinking of buying your first home in London, Ontario. You have a job, a few bucks in the bank for closing costs and a down payment, and you're ready for the wonderful world of home ownership. What do you do? Allow me to give you a little guidance.

Buying a home in London, Ontario can be a very stressful time in your life, but it doesn't have to be. By following a few simple rules, the entire process can flow smoothly from start to finish.

1 - The first thing to do is to contact a Realtor that you like, know and trust. Someone that you know will put your best interests ahead of their own. Why? Because a professional Realtor should be your consultant, your negotiator and the person that oversees the transactional details. A professional Realtor has the contacts that you will need, such as a Mortgage Broker, lawyer, home inspector, and so on. Think of a professional Realtor as your 'one stop shop' for all your real estate needs.

2 - Meet with your professional Realtor at a convenient time for everyone to begin the home buying process. This can be done in the comforts of your house or apartment, at the office, at a restaurant, or anywhere that your professional Realtor can set up a laptop. The only thing you'll need to bring is your Wish List of what you want, need and desire in a home. Not too bad so far, huh?

3 - It will now be time for your professional Realtor to set up a meeting with a qualified Mortgage Broker to get you pre-qualified. It's time to see exactly what you can afford. You Mortgage Broker will let you know what to bring to this meeting, and within 24 hours, you will be able to go out with your professional Realtor to begin looking at homes in London, Ontario. Pretty simple so far, right?

4 - Your professional Realtor should have a list of homes that you may be interested in according to your Wish List. As well, if you're like most first time home buyers, you will have your own list from all those late nights of searching realtor.ca for the perfect home. It's now time to meet with your professional Realtor to go over what's available in your price range, and for your professional Realtor to begin setting up appointments for you. This is the fun part.

5 - Once you and your professional Realtor have found a London, Ontario home that you could see yourself living in, it's time to write up an offer. You love everything about this home, and it's perfect for you. You and your professional Realtor will look at comparable properties that have sold in the neighbourhood to give you an idea of what you should expect to submit for your offer. You will also discuss the terms, chattels and fixtures, a closing date for you to move in, as well as any conditions that you should include such as a home inspection and financing conditions. It's time for your professional Realtor to get you the best deal possible. Have your cheque book ready because once the offer is accepted, you'll need to write a cheque for your deposit. This will go towards the purchase price of your first London, Ontario home but it is not your down payment.

6 - Once you and the seller have come to an agreement on price, terms and conditions, you now have to get to work to remove your conditions by the time stipulated in your offer. Your professional Realtor will set up a time for the home inspection, and meet you there while you go back to your Mortgage Broker to finalize the financing details. In most cases, you will have between 5 and 7 days to have this taken care of. No need to get worried. It's plenty of time. Your professional Realtor will be there with you every step of the way from giving a copy of the offer to your Mortgage Broker and lawyer to attending the home inspection with you.

7 - Assuming everything went the way it was supposed to, it's now time to start packing as you'll soon be moving in your first home in London, Ontario! That wasn't so bad, was it?

With the right professional Realtor working for you, buying your first London, Ontario home can be a joyful, rewarding experience for everyone involved.

I've been collecting inspirational/motivational quotes since I was 15, which is a pretty long time. One thing I've learned is that inspiration can come from outside, but motivation has to come from within. I was just looking through some of the journals that I've been writing in, and there must be thousands of them. So today I thought I'd write about what keeps me going, and if it helps someone out of a place where I have once been, that's great.

One of my favorite quotes came from a kid in the 6th grade. He said 'If anyone is in need, just lend a hand and help them out.' I'm one of those people that enjoy helping someone whenever I can. I will rarely ever say no when asked to lend a hand, be it in real estate or life in general. When you help someone up a hill, you're closer to the top yourself.

Mahatma Gandhi once said 'Almost anything you do will seem insignificant, but it is very important that you do it.' To me, life isn't about the few big things, it's about all the little things, and taking the time to be aware of them. In business, this rings true because successful Realtors are doing the things the other Realtors don't want to do.

Ken Marlin said ' To sell John Smith what John Smith buys, You must see John Smith through John Smith's eyes.' Real estate may be our product, but we are in the people business, and we must put the interest of others ahad of our own. No one likes to be sold, but they do love to buy. To know what they want, we need to ask the right questions to get to their 'Big Why.'

This quote by Calvin Coolidge is one of the first 10 quotes that I wrote when I was a kid. When things seem to be going in the wrong direction, and for those times when I'm wondering if I'm heading in the right direction, I remember this...

'Press on - Nothing in the world can take the place of persistence. Talent will not; nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Education alone will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent.'