1100, 1102, 1104, 1106 Jalna Blvd. – A 2018 Update

We are in the process of updating our website for 2018 and this blog makes up part of our new updates for the 1100-1106 Jalna Blvd. complexes in “White Oaks”. Entry level low-rise condo buyers looking in the south end of our city often start their searches with these four clusters and/or the two larger high-rise buildings directly across the street to the west at 1103-1105 Jalna Blvd.

Here are some of the new changes we are making. We are adding the complex name, “White Oaks Villa Four”. We are also adding the years when each building where registered as condos, 1977,1993,1978, and 1977. We are adding building details. 1100 Jalna has 51 units. 7 stories, eight units per floor with 3 units on the main floor. 1102 Jalna has 52 units. 7 stories, eight units per floor with 4 units on the main floor. 1104 Jalna has 42 units. 6 stories, eight units per floor with only 6 units on the top floor and 4 units on the main floor. 1106 Jalna has 52 units. 7 stories, eight units per floor with 4 units on the main floor.

Average “MLS” selling price 2017 1100 Jalna. One bedroom $75,000 based on two “MLS” sales. Two bedroom $99,600 based on four “MLS” sales.

Average “MLS” selling price 2017 1102 Jalna. One bedroom $77,300 based on two “MLS” sales. Two bedroom $96,000 based on two “MLS” sales.

Average “MLS” selling price 2017 1104 Jalna. One bedroom, sample size one to small to report. Two bedroom $127,500 based on two “MLS” sales**

** one of the two sales was of a penthouse sale. This is the only building of the four with fewer top floor units. In this building a 1,400 sq. ft. unit with a 21 X 21 great room and a 40 ft. balcony sold.

Average “MLS” selling price 2017 1106 Jalna. One bedroom $85,500 based on 2″MLS”  sales. Two bedroom, sample size one to small to report.

We are also adding the following comments. These four buildings all look somewhat similar in size except for the 1104 building which is one level shorter. The other exterior difference is that the 1106 building has one top-level of exterior siding where-as with the other three buildings there is three top levels with exterior siding instead of brick. These buildings are now over forty years old and many units are in the process of receiving major makeovers. Prices seem to be on an uptick. There is no underground parking and only one of these four buildings has an exercise room and a sauna (building 1104}. Yes there is an outdoor pool. The condo fees include the heat and hydro except for the 1102 building where they do not. Shared laundry, plenty of outdoor parking.

What is the net result of making these changes and more? Well readers searching the “White Oaks” condo market will now have a better understanding of some of the details found here. Knowing that average price indicators may get pulled up if penthouse units are part of the equation is also good to know. Is a unit worth $75,000, $82,000 or $99,000 dollars? Having access to the type of information we are providing could be invaluable. Often times potential buyers get excited when they witness new listings popping up for sale at relatively low prices however many units need to be totally refreshed.

From the desk of :        Peter Daoust, Broker Remax Advantage Realty Ltd. Brokerage

 

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76 Baseline Road West – A 2017-2018 Update

We are in the process of updating our website for 2018 and this blog makes up part of our new updates for the 76 Baseline Road West complex in Berkshire. Many of the  condo buildings along Base Line Road West have a history of small ongoing special assessments. This is typical of what sometimes happens with structures from the late 1980’s and the early and mid 1990’s. 

Both windows and underground parking garage surfaces can sometimes be an issue however in this case, none of the buildings at #76, #77, #95 and #135 Baseline Road West have underground parking lots. Often times with these buildings elevator work is necessary and general common area improvements. During flat or sideways moving real estate markets these minor ongoing special assessments can often discourage new buyers from finding value with these types of units. Real estate agents too can often times get caught up in a similar mindset as the most recent sales histories can dictate the suggested new asking prices.

Then came the largely unexpected real estate markets of 2017 where the previous selling prices on these two bedroom units of $113,300 in 2016 and $115,400 in 2015 got largely swept under the carpet. In 2017 ten two bedroom units sold in this building with two units selling out for over the $140,000 mark and with an average selling price of $128,200 on these ten sales. These types of selling price increases on older condos buildings similar to this building were quite common all across London in 2017.

by Peter Daoust, Broker Remax Advantage Realty Ltd, Brokerage

 

 

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Condo Pricing in 2017 – The New Reality

We are in the process of updating our website for 2018 and this blog makes up part of our new updates for the 458-486 Springbank Avenue complex in Woodstock.

The Woodstock condo market changed in 2017 and viewers trying to get a sense of value might be in for a surprise. Here is one example of how prices are fluctuating.

Seven units sold in this complex in 2017 and one unit which sold out at the price of $144,000 was on a listing with the low listing price of only $129,900 purposely

designed to attract multiple offers. What helps in putting this situation into perspective is that one of the sale prices in this complex before this new listing was for $190,000.

Where does activity like this put first time buyers who are anxiously trying to buy into a market of seemingly erratic listing and selling prices ? How high do you bid over asking in

the hopes of trying to get good deal? In these markets many people have a story to tell. Going forward into the year 2018 it still appears that it is still a seller’s market.

In retrospect did the buyer(s) of the $144,000 condo get a good deal? What we didn’t tell you was that the average selling price in this complex in 2016, was $135,200

and in the year before that it was $130,000. As it turned out, the $144,000 sale price ended up being the lowest priced sale in this complex  in 2017 based on seven

“MLS” sales. The average selling price in 2017 at 458-486 Springbank Avenue ended up being $169,700.  Welcome to the ever-changing world of condo prices in Woodstock.

by Peter Daoust. Broker Remax Advantage Realty Ltd., Brokerage

 

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How is The Condo Market Doing in London Ontario?

Well ask ten different people and you will probably get ten different answers.

Back in August of this year I wrote a blog where I noted the following. “In the last ten business days there was 64 “MLS” condos sales in London Ontario”. Once again I was writing about what was happening back in August of 2017. In the under $225,000 price range there were 36 sales. Six of these sales sold at their asking prices. Twenty sales sold under the asking and the average selling price was $3,961.00 below ask. Ten units sold out over asking and the average amount paid over asking was $8,484.00″.

Prices continue to rise. Many sellers have priced there units slightly higher than past comparable sales. In the last ten business days (ending two days ago on Sunday) there were 37 “MLS” condo sales in London. In the under $225,000 condo price range therewere 19 sales. Of these 19 condo sales in this price range only one unit sold out over it’s asking price, one sold out at the list price and 17 units sold out below their asking price. Of the seventeen condo units selling out under asking price the average price paid below the listing price was just over $4,000. That’s in line with what was happening back in the summer.

What does all of this tell us? Now here is where the answer gets tricky. We are witnessing fewer over asking price sales in the lower price level. On the surface it may seem that buyers are not bidding up prices and paying whatever it takes to win out in multiple offer situations. That’s what happened in recent past markets. Now consider this. There are many pockets in our city, particularly in areas like our south section where selling prices of some condo complexes have jumped up 25, 35 and even 50 percent and more in value in less than eight or ten months. Addresses like 1330 Jalna Blvd. and 114 Pauline Cres. just to name two. So when a condo in 1330 Jalna Blvd complex now gets listed at $189,900 and sells out at $185,500 does that mean that our markets are cooling off? It does only if you looking at it from the perspective of list versus sale price. If you look at our website you will see that the average selling price of a unit in that complex last year was only $107,400.

New buyers are continuing to come to our city and many of them are happy buying in this lower price range with few  concerns over how much more they are paying than their neighbours did next door who happened to buy one year earlier. In their minds our prices are still bargains.

Will our real estate markets continue to go up forever? Tightening mortgage qualifying restrictions and other unknown factors like the outcome of the NAFTA talks might slow down the upward trend of our real estate prices. In the meantime we are living in a real estate world with fewer new listings being posted on our “MLS” system . By Peter Daoust. Broker. Remax Advantage Realty Ltd. Brokerage

 

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The Springbank Dam

The Thames River dam issue never seems to go away. Fix it, tear it down, leave it “as is” or turn it into a footbridge.

Leave it as is. I live in Byron and that’s what I think. There are miles and miles of bridges and roads already passing over the Thames River in both directions, that’s just the way it is. Why spend money on yet another project? If you go to our Byron subsection of this website you will see a drone flying over the river making a video of what it looks like. The water colors are very sick looking, that really should be a bigger concern than what is going to happen to the dam.

 

On a more positive note here are some pictures of happy fisherman on the Thames River out last week just to the west of the Sanitorium Road bridge enjoying a few hours out on the water in little kayaks fishing. Let’s save our river and leave our open dam just the way it is.  by Peter  Daoust, Broker Remax Advantage Realty Ltd. Brokerage

 

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Things New Condo Owners In Windsor Are Doing.

No fishing, diving, swimming, or feeding the birds. All of the many parks along the Detroit River in Windsor seem to sport these types of signs. It’s different upstream in Sarnia where kids just jump into the river off the base of the Blue Water Bridge.

Windsor is now experiencing a new wave of budget minded voyagers of all ages who want to spend their summer afternoons out on the Detroit River in the tiniest of sailing crafts. Ten foot long kayaks, kayaks with pop-up sails, dinghies with electric motors. Yes there are currents, ripples and unexpected bursts of winds to contend with but all of that only adds to excitement of being out on open waters.

Remember our wordings, the “tiniest of sailing crafts”? These types of vessels are often launched without supervision at the ” Shanfield Shores Park”just to east of “Sandpoint Park”.How do people get their little boats to the shoreline in the first place?  Well for the most part they carry / drag them in from the roof racks of their cars which they can park across the street in a municipal parking lot for free. Some people come with bicycles which have two-wheeled little trailers in tow. It all takes a bit of ingenuity to make happen.
If your thinking of moving to Windsor and adding this activity to your bucket list of things to do might we first suggest that you learn the rules about carrying whistles, bailing devises, paddles and proper life jackets on board. Eyes in the sky and water surveillance crafts (see our pictures below) will be watching your every move. The pictures below were clicked only a few weeks ago as the boating seasons in the Windsor region often continues into the early part of November.
.Windsor is a great place to call home.By Peter Daoust, Remax Advantage Realty Ltd. Brokerage

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1960 Dalmaggary Road “Baja”

What is “Baja”and where is Dalmaggary Road? Good questions. This is a new street on the map south off Fanshawe Park Road West and to the east of Hyde Park Road. The street name sounds Scottish.  “Baja” is an “Ironstone Homes” project. Not quite sure what “Baja” stands for. These are local fairly new builders on a mission to build and build. They recently finished out a giant townhouse rental project just to the east of this site.

London is not accustom to witnessing new condo sites on such a grand scale. It’s massive. Clusters of three, four, five, six and eight units built army style “row after row” of the nearly the same thing. Across the street is a parking lot for “The North London Plaza”. It’s a now busy part of town. Also new to the neighbourhood  is a “Mandarin ” restaurant and a new “McDonald’s”. There are 216 units in this new project surpassing the size of the recently sold out and still under construction “Tribeca” town homes project further to the south but not all that far away just over on Sarnia Road.

Twelve different model styles, three and four bedroom units built with a 2 storey, 3 storey or a multi-level design. Mostly all single car garages however a small number with double garages including all of those on the main driveway coming in. Current prices are $327,800 ish -$344,800 ish range. Their model home is open on weekends with some near term move in dates. Unit sizes will range from 1737 sq.ft. to 1802 sq.ft. in the BOCA and AZUL models with other model names of  LUNA and CABO.

All of this is like an instant city has sprung up in north-west London. Will this project sell out quickly?  All we can say is that another new townhouse project called “Fox Haven” a few blocks away on the other side of Fanshawe Road on Tokalia Trail has sold out (phase one that is) before a shovel ever touched the ground. More pictures to follow. This is a big project. Early sales activity will be brisk.

by Peter Daoust, Broker Remax Advantage Realty Ltd. Brokerage

 

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“The Eight at Warbler”

Westdel Bourne on the far west end of our city is “Sifton Homes” territory and new streets have just opened. Upperpoint Blvd., Upper West Ave. and Riverbend Road. All of this activity is to the west and south of an existing street know as “Warbler Woods Walk”.

Graystone Homes will soon be busy with “The Eight At Warbler”. This will be an eight unit condo site with 2,000 sq. ft. and up condos priced from the mid $700,000’s.  The curbs for this new project are now poured. ( Graystone is also busy starting on a project called “The Ridge at Byron” over on Wickerson Road further to the south).

 

 

If your out and about on the weekends check out this new area of town. The look of west Byron is now starting to change.

by Peter Daoust, Broker Remax Advantage Realty Ltd. Brokerage

 

 

 

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Port Stanley and New Harbourside Condos

If you’re an architect or an urban planner you might cringe at the simplicity of this blog but if you’re a house builder in Kapuskasing or Timmins you might take interest in these pictures. This blog is about building new condo buildings only a few feet above the water’s edge.

The first set of pictures show the footings going in for a new four level condo/commercial building in the harbor of Port Stanley. It’s starting to happen now as the pictures are only less than a week old. We note that we are talking about a new project only a few feet above the harbor’s waterline. As a builder are you better able to understand how tricky such a design could be? Three commercial units and nine condos  with one bedroom units with a den starting at $515,000 (1330 sq. ft.) and 2 bedroom with a den (1470 sq, ft.) starting at $565,000. Presales have already happened. Imagine trying to get approvals on this.Over in the village of Port Dover something slightly more controversial recently was approved. Read more about it in past editions of the “Simcoe Reformer.ca” .  The “Dover Wharf” will now be built on harborfront hazard land at risk of flooding and under the careful watch of the Long Point Region Conservation Authority. Back in 1985 a March storm put Harbor Street eight inches deep in water. Ice buildups often happen at the mouth of the river. “Dover Wharf” requires the current demolition of the historic Miser’s Fish Factory. This is the white cement building in the background of all four of these pictures. Forty eight condo units on four floors will be going in with a main floor level of parking . (The flood insurance issue going forward might be an interesting read). 

If you’re in the market for a harbor side condo both of these projects might be of interest to you! Cheer. Peter Daoust, Broker Remax Advantage Realty Ltd, Brokerage

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“The Portofino” at 1225 Riverside Drive West in Windsor

Here we have a 17 storey condo building of an elliptical shape, an award-winning design at the time of construction. Built in the year 2007, two years before the mega auto recession of 2009. North East river views (the Detroit River) and direct “Renaissance Centre” views. This stucco and glass building has a rooftop terrace and beautiful floor to ceiling windows. Enjoy the riverside bike paths. What a beautiful place to call home.

There is more to the story. Remember we said built-in 2007. Here it is. In the first six months of 2017 now some ten years later six “MLS” sales occurred here priced from $237,000 to $485,000. What’s interesting about these sales is that three where “resale unit sales” and three where “power of sale situations”. The owners of these three “power of sale” units were the original developers. In 2016 there were twenty “MLS” sales priced from 195,000-$472,500. Of these twenty sales, 13 were “power of sale” developer units. The years 2015 and 2014 shares similar stories.  Why didn’t they sell out when they were first built? It was the economy. Across town over at 2175 Wyandotte Street East, the “Club Lofts”, a century old Hiram Walker bunker originally built to house millions of gallons of whiskey. (the world’s largest “rack warehouse” at the time) was also converted to condos back at about in 2007. This was an ambitious undertaking. Ten years later there are some brand new original units still for sale. Image a London developer stuck selling out units ten years after a project was completed! Things like that don’t seem to happen here.

The next time someone tells you that the real estate markets are hot and prices are up take a deep breath and look around at prices in cities like Chatham and towns like Ridgetown. There is a different world of lifestyle options out there not all that far away. The winds of change are all around us. Let’s hope our current good times do not come to a crashing halt and lets hope that interest rate increases don’t tug at our markets to severely.

by Peter Daoust, Broker. Remax Advantage Realty Ltd., Brokerage

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