Pete's Scuttlebutt Bungalow

Welcometo the July 2021 edition of “Scuttlebutt Bungalow”!  Scuttlebutt keeps you looped in to London’s hot real estate market. You can read Scuttlebutt below or click ‘Al’s’ icon as I read Scuttlebutt out loud for you! 
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This month we tackle three really significant issues!

#1. Al Paca spearheads Red Door’s Food Drive at Metro on behalf of the London Food Bank!
#2. Red Door’s “best cellars” report.
#3. Are increasing housing prices slowing down in London? 

#1. First up!!! The Red Door, RED JACKET, Food Drive at the Metro Supermarket: 
Wellington/Commissioner Roads on Saturday July 17th from 12:00PM to 4:00PM                                                                           ed Door thanks all of our clients and friends for your ongoing kindness and generosity! Once again we ask for your big-hearted help! Please pop by the Metro store on July 17th in support of hungry Londoners. I’ll be there with D.A. Foster and of course the very popular Al Paca!Bring your kids and your cell phones and have your picture taken with our superstar mascot---Al Paca! We simply ask that you buy a few dollars’ worth of non-perishable foods to fill the London Food Bank’s shelves! If everyone gives a little---we can help a lot!!

#2. “Best Cellars”. Red Door Nation---finished basements—help to sell houses! In fact many times in my career I have found that a house with a finished basement is my “best cellar.” I apologize for the pun! Still, it’s a fact! The question for you is this. If we put out a big chunk of cash to renovate, will this outlay increase the value of our house by more than the expenditure? That’s a legitimate question. The answer is? It depends on a number of factors.I can certainly give you some insights based on your home’s location; the age and condition of your property; the recent selling prices of comparable houses, in your neighbourhood, which sold with finished and without finished basements. Friends, you can expect my report to provide you with a rational indication, whether it makes sense to invest in this additional value for your home. This analysis will add clarity in your decision making process. Contact me before you list your home so we can assess if the extra living space along with the new supplementary activities it will provide for potential buyers makes economic sense. It’s not possible to give a firm definitive answer but I can help you understand the trade-offs! 

#3. Are selling prices plateauing? In the past 2 months there have been indications in London that the selling prices of houses have been levelling off. For instance, the average selling price in London in April was about $640,000, declining to around $629,000 in May and slipping to roughly $623,000 in June. Also, the average number of days to sell a house increased. In April and May the average time to sell a house was 7 days. In June it increased to 8 days. It’s a sign that houses are not selling quite as fast.Does this mean selling prices will continue sliding down? My personal opinion is that it is too soon say the market has topped out. Or for those of you who watch UFC perhaps a better term is “tapped-out”. Two months does not establish a trend! Only time will tell. I will keep you posted!And REMEMBER, we hope to see all of you at our July 17th Food Drive, happening at the METRO STORE on Wellington Road, 12:00 noon to 4:00 pm! Come on out and meet our secret FOOD DRIVE WEAPON! His name is Superstar Al Paca! We look forward to seeing you there!! Remember Red Door Nation; whatever develops, you can be confident that Red Door will be here to guide you in the purchase or sale of your home.   Red Door---will get done---what you need---to get done!I’m just a phone call or a text away! 
In all sincerity, Peter Sisco*****************************************************************************          Red Door Ltd. Realty Brokerage, 4010 Brigham Road, RR 33, London Ontario                                                     
Peter Sisco   Broker-Owner    Phone/Text   (519) 902.3214