Want To Know Why Some Homes in London Ontario Are Not Selling?

This is a true story about why some homes in London Ontario are not selling. In this story, out of eight properties visited over two days, seven did not get an offer, and one did, not good odds!

I showed a couple looking for a detached bungalow house in London, Ontario, between $650,000 and $850,000, eight on a Saturday and returned on Sunday to see two of the eight that had their interest.

I have not included addresses or names to protect the guilty, the innocent or the unaware!

On Thursday and for a few hours on Friday, I researched ten houses they wanted to see, including their selling history, days on the market, and any price reductions or increases. Additionally, the sales history of similar houses in the neighbourhood over the last six months, including those that sold, those that did not sell, and those that were taken off the market.

Note: All were in desirable neighbourhoods in London Ontario. Two Realtors did not respond to my request to show! I guess they were too busy!

House 1: It had pleasing curb appeal. Some lights did not work (either due to electrical or faulty light bulbs), and a few minor touch-ups were required, but the house was in move-in condition. It was priced right for the neighbourhood and condition.

House 2: Decent curb appeal, but the house was untidy (reasonable because it appeared there were young children), the back yard was untidy, and it was overpriced by $50,000 to $75,000. There was also no nice flow through the house.

House 3: It has decent curb appeal and a nice backyard. The price has been reduced twice, and it has been on the market for 76 days, but it is still overpriced!

Patience, Patience and More Patience

House 4: The key did not work. I called the listing Realtor, and her spouse came to open up. He said the lock was frozen, but they had not unlocked the second deadbolt and did not leave the key for it. The house was a flip, and while the improvements were well done, they did not consider what home buyers wanted in 2024 and 2025: a primary bedroom with walk-in closets and a primary ensuite. Yes, they would have created a two-plus one-bedroom home instead of three small bedrooms plus one in the lower level—still, $50,000-$75,000 for lipstick on a pig.

House 5: A total disaster, and I am being kind, a good $100,000. It had been on the market for 81 days, had been reduced three times, and was handled by the second Realtor.

House 6: We were there fifteen minutes early. I knocked on the door, and the person who answered was not very pleasant and told me to come back. Even though it was snowing, at minus 8 degrees Celsius, we did. The house needed many updates and had been on the market for over six months, and we were given grief for showing it. Hmmm, I guess buyers must be a nuisance!

House 7: Only 9 years old, with excellent curb appeal and vacant; it was hard for the buyers to envision where their furniture would fit. There were quite a few touch-ups to be made; it seemed that whoever cleared the house out was in a hurry. This was slightly above the buyers' $850,000 range and showed well—the marketing brochures featured glamorous photos of the real estate team, with little information about the house. Buyers want to know more about a property than about the Realtor’s egos.

The Home Seller Was Present

House 8: It had great curb appeal; however, the interior was very dark. The owner was present and somewhat confused about our presence, but pleasant, and remained in the living room while we attempted to turn on all the lights, open the curtains, etc. There was a large patchwork on the basement ceiling, most likely caused by a leak somewhere in the kitchen. It is still a consideration due to price, style, and location.

In Summary

We saw eight houses between 10:30 and 4:30 that Saturday. After seeing eight properties, they were tired, having flown in from the States the day before. However, they asked if they could return on Sunday to see houses #1 and #8 again.

The results

We saw house # 8, and guess what? The homeowner was there again, unaware that we had a confirmed appointment. She was kind enough to let us and my clients felt uncomfortable the second time with her there again. A very pleasant lady, my clients asked why the listing Realtor did not even attempt to be present, turn on all the lights, open the blinds, and let us know when and why the leak occurred and whether it was repaired.

We saw house #1 around noon. I called the listing Realtor about the age of the roof and the furnace, and she responded promptly! I had brought a light bulb to see if the lights worked. They did; it was burnt-out light bulbs, not the electrical. We offered that afternoon; my clients flew back to the States. On Monday, our offer was accepted without conditions, and everyone involved was happy.

In Closing:

I understand that home sellers want to get as much money as possible. Yet the brutal truth is that price dictates when, how quickly, and how much the home sells for. During COVID, my granddaughter could have plopped a sign on a lawn and sold a home with twenty-plus offers. Today, plopping a For Sale Sign on the front lawn does not guarantee a sale!

I understand that home sellers want to or have to pay off a few debts or rearrange their finances. However, what a reasonable home buyer is willing to pay and the market’s supply and demand determine the price.

Real estate agents are either transactional or transformational. It is in the best interest of both the home seller and buyer to know which type they are.

Realty and the brutal truth, in most instances, are not what a home seller wants to hear or do. Now, you know why some houses and condos take longer to sell!

The End