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Ryan Hodgson

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Sale's Figures for 1st Quarter 2008

04-04-08
Ryan Hodgson
Sales figures are out for the first quarter of 2008. Number of sales are down 9.1% from same period in 2007 and average sale price has increased 7.1%.

Of course the Free Press jumps all over the decrease in sales with words like plunged and dive. To put things in perspective, if the entire year of 2008 saw a decrease of 9.1% from 2007 sales numbers, the board would still have over 8,000 sales and historically would be a great year for sales. In case anyone has forgot, 2007 was the best selling year ever for the London/St. Thomas Real Estate Board - I expect sales to be lower this year.

Market conditions are still very favourable for a strong year. One of the reasons which would account for a slight decrease in sales would be the weather. February and March say more snow then usual. As the weather warms up, so will the number of sales.

The increase in average sale price might be a surprise to some when accounting for a decrease in sales. But put things in perspective - the number of sales made was still very good (read second paragraph). It's still a slight sellers market and a strong enough market to account for an increase in sales - especially when you factor in the last 9 months.

HERE's the Free Press Article.
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Bank of Canada Official Declares London's Economy Diverse

04-03-08
Ryan Hodgson

I've been saying for the last year that London, Ontario's economy is diverse enough to weather any significant manufacturing slump caused by the poor dollar or other economic factors. It seems the Bank of Canada agrees with me. Read HERE.

As per Article:

Manufacturing now accounts for only 14 per cent of jobs in the London are compared to 20 per cent 20 years ago.

But he said the decline has been offset by gains in sectors such finance, transportation and professional services.

"Adjustment is not easy. But London does seem to me to stand out as an example of the importance of having the flexibility to respond and adjust to changing circumstances," said Jenkins.


A strong economy is very important to any community. London's Real Estate market will continue to benefit and real estate sales should stay strong through 2008.

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Mortgage Insurance: Not Always a Sure Thing

04-03-08
Ryan Hodgson

Typically when you purchase a home and you have a mortgage placed on the property, the bank offers you mortgage insurance. For $15 -$25 per month, this is supposed to give the consumer peace of mind in case of death, serious injury or illness.

However, this is not always the case. This insurance is not guaranteed and the insurance company has the right to underwrite the policy and void it after the fact - even if you believe you filled out the original questionaire correctly.

Please click on the following link and learn about the differences in getting insurance through the bank or with an actual insurance company. It may change your family's life.

Watch CBC special video HERE

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