There is a lot of talk about tariffs, and their effects on our economy and the real estate market, amongst other things. I have some thoughts on real estate during these times. Buying or selling a home can be an emotional journey, and with today’s market uncertainties, it’s even more important for you to stay positive and in control. Let's look after ourselves and our personal mindset: 

- Take Breaks from the Noise: Too much news or market speculation can create stress. Trust the process and us. We are here to listen to your concerns, and work through them with you. 

​- Control What You Can: The market is unpredictable, but your preparedness, attitude, and decision-making process are within your control. Trust in yourself. 

- Focus on Your Goals: Whether buying or selling, keep the bigger picture in mind—what is driving this decision? We can't put our lives on hold, moving forward is always the goal. 

For Buyers:

- Time to get on it! This is the sweet spot! Prices waned the second half of 2024, and with the spring market looking to be relatively robust. It is best to get ahead of it. 

​- Get Pre-Approved: Knowing what you can afford gives you confidence and an edge when making an offer. I know, obviously, but it's better than falling in love with something you can't afford.

- Stick to Your Budget: Avoid emotional decision-making by setting a clear price range and staying within it. This is not the time to risk being house poor. 

- Be Patient but Ready: The right home is out there. Stay patient but prepared to act fast when a good opportunity arises. And don't sweat the small stuff, if something is changeable then don't let it stop you from moving forward and on the other side, if there is something you don't want and it is not changeable find something else. 

For Sellers: 

- Aim for the Spring Market: All signs indicate that the spring market will be good. I'm unable to assess the rest of the year presently but once I can see clearly into my crystal ball, you'll be the first ones to know. 

- Understand the Market: Knowledge is power. Stay informed about local market trends so you can set realistic expectations for pricing and timelines. 

- Prepare Your Home: Focus on what you can control—decluttering, staging, and making minor repairs to attract buyers.

​- Be Flexible: Market conditions can change quickly. Being open to negotiations and adaptable to feedback will improve your chances of selling successfully.

For Those Renewing Their Mortgage:

- Consider a Fixed Mortgage: I think consistency and stability is key during these next 4 years. By the time your mortgage comes to term things will have changed. 

  "In challenging times, it’s important to stay strong, support one another, and focus on what truly matters—our families, communities, and local businesses. By choosing to buy Canadian, we help sustain our ​local econom​ies. Together, with kindness and resilience, we can overcome any obstacle and build a brighter future for everyone."  

As we step into 2025, the real estate market in London, Ontario, is facing a turbulent year. While the market has shown signs of stabilization in recent years, a variety of factors are creating uncertainty for buyers, sellers, and investors. Here’s a look at what has happened so far and what to expect as the year unfolds.

After a sudden rise in interest rates aimed at slowing the housing market, the Bank of Canada has begun to gradually lower the bank rate. However, these reductions have not been sufficient to make housing prices affordable for most people. Despite this, many major banks predict that the Bank of Canada will lower the rate to 2% by mid-year, which could provide some relief.

Shifts in Housing Supply

A noticeable trend in 2025 is the anticipated increase in homes sold by baby boomers moving into senior-based accommodations. This demographic shift is expected to add more inventory to the market. Simultaneously, we are likely to see a rise in bank sales or foreclosures, particularly as homeowners who purchased properties in 2019-2022 with fixed-rate mortgages face renewal this year.

Those who opted for fixed-payment variable mortgages may encounter the biggest financial shocks. As interest rates rose, their payments remained level, but their mortgages likely sustained their original principal amounts. Renewing these mortgages at higher interest rates will be a challenge for many.

A Busy Spring Market

Being on the ground in real estate, I can tell you that all signals indicate a busy spring market driven by pent-up demand. Buyers who were previously hesitant due to high interest rates may re-enter the market, while sellers are preparing to list their properties in hopes of capitalizing on this activity.

The "Trump Effect"

On a broader scale, geopolitical factors could also influence the Canadian economy and, by extension, the housing market. While it’s uncertain what U.S. President Trump may do, his decisions could have significant repercussions for Canada. If some of the measures he has threatened come to pass, they could be disastrous for our economy. It’s a situation worth monitoring.

Opportunities and Challenges in 2025

For Buyers:

• 2025 is shaping up to be a reasonable good time for first-time buyers. Changes to mortgage insurance rules, lowering interest rates, and increased negotiating power—especially when not competing—are all favorable conditions.
• Keep an eye on bank sales, distressed properties, and avoid listings with offer holdback dates, as these homes are likely to sell for more than others.
• Don’t overlook condos in London. Negative press about "dog crate condos" in Toronto has unfairly influenced perceptions of condos in other markets, including London. This presents a unique opportunity for buyers to enter the market.

For Sellers:

• Preparation is key. Do not underestimate the benefits of staging, professional photography, and thorough preparation when listing your home. The market will remain competitive, and gimmicks will not serve you well.
• Pricing your home realistically and working with an experienced realtor are essential to attracting serious buyers and achieving your goals.
• Because we are expecting a potentially turbulent year, I would suggest listing in the spring market. If the market slows during this year, it won't do so until after the spring market 

Either:

• Shared housing arrangements, such as roommates or granny suites, are becoming more common and offer creative solutions for affordability. I have recently split my house to rent a large portion to a family member. It has benefited both of us greatly. 

Closing Thoughts

The 2025 real estate market in London, Ontario, is filled with both challenges and opportunities. Whether you are a buyer, seller, or investor, staying informed and working with trusted professionals is crucial. 

Let’s navigate this exciting and dynamic market together. With the right strategy and support, 2025 could be your year to achieve your real estate goals!

*If you’re considering any real estate, mortgage, or investment decisions, consult with an expert who can tailor advice to your unique situation.*

Photo courtesy of Gratisography

I recently came across a creative idea on TikTok: using a Bingo card to tackle your resolutions! 📝🎉 Instead of the usual list, this format turns your goals into an interactive challenge. Fill your card with small, achievable steps toward your bigger goals—whether it’s fitness, organization, self-care, or learning something new.

As you complete each one, mark it off and aim for a BINGO (or even a blackout)! It’s a fun, motivating way to stay on track and celebrate your progress along the way.

Ready to give it a try? Let’s dive into some ideas to help you create your own Resolution Bingo!

Personal Growth

1. Exercise regularly – Commit to a consistent fitness routine.
2. Eat healthier – Focus on balanced and nutritious meals.
3. Lose weight – Achieve a healthier body weight through diet and activity.
4. Read more books – Set a goal for reading a specific number of books.
5. Learn a new skill – Pick up a hobby or skill like cooking, coding, or painting.
6. Save more money – Build better financial habits and a savings plan.
7. Reduce screen time – Spend less time on devices and more in the real world.

Relationships

8. Spend more time with family and friends – Prioritize meaningful connections.
9. Improve communication skills – Practice active listening and expressing thoughts clearly.
10. Volunteer or give back to the community – Find ways to help others locally.

Career

11. Advance in career – Pursue a promotion, certification, or professional growth.
12. Start a side hustle – Explore opportunities for additional income.
13. Improve work-life balance – Set boundaries to enjoy personal time.

Mental and Emotional Well-Being

14. Practice mindfulness or meditation – Focus on mental clarity and stress reduction.
15. Get more sleep – Aim for 7–9 hours of quality sleep each night.
16. Declutter and organize – Simplify your living and working spaces.

Adventure and Experiences

17. Travel more – Explore new places, cultures, or local attractions.
18. Try something new each month – Keep life exciting and fresh with new activities.

Sustainability

19. Live more sustainably – Reduce waste, recycle, and support eco-friendly practices.

Personal Projects

20. Start a journal – Document your thoughts, goals, or gratitude daily or weekly.

Get started and have fun!