We’ve scaled back from the heady heights of summer to a more real and cooler September. Still steady and strong Listings and Sales though compared to a year ago.
I think some Sellers got the message that Sales Prices were on the rise and decided to list their homes in September as our Listings increased by a whopping 14%. However before we get too excited about that fact we must realize that overall listings still remain down by 3% on the year.
The good news is that the Average Sales Price while taking a modest jump to $192,983 for the month has settled at $191,877 for the year and will likely hover near or around that based on increase supply of listings.. Thet upward trend of Sales to Listing Ratio seems to have softened as well having settled at a rock solid 59%, just below the Seller’s market territory of 60%. Even a cursory look at Sales to Listing Ratios by Area reveals that it has settled on an area by area basis.
Residential Sales remain static with a drop of 1.13% for the month but on an annual basis stays within one half of one percent of last year. However, dollar volumes continue to exceed last year by 6% reflective of the increase in Average Sales Price. It is anticipated that, barring any dramatic economical change in our area, we should continue along the path of strong but static sales and very little change in our Average Sales Price throughout the remainder of the year. However, if the area continues to get job announcements we should expect that our market will continue to strengthen. A basis for this is already seen in the new house market who have rebounded to new levels they have not seen for some time. The price differential between new and existing has narrowed, making building new a realistic alternative.
It is a real treat for Rosemary Lunau and I to have the opportunity to market and find a new family to live in what we think is the "hidden gem of Windsor." We have been in a lot of homes and 1670 Grand Marais West, located in South Windsor has a time-honoured past. Step back to the grandeur of the 20's.
It is a centre hall plan which to me always feels welcoming.
There are unique features like solid wood and gumwood trim work and french doors with leaded glass. Extraordinary wood beams in the formal living room and dining room, a sturdy "Stickely Type" stair case. You will find a less formal sunroom off the living room and a main floor family room. The kitchen has recently been refinished with custom cabinetry to reflect the era of the home.
This vintage home has four generous bedrooms with sizeable cedar walk-in closets, almost unheard of for the age of this home! It also has a walk-up stair case to the attic. Our research shows it as approximately 3220 square feet on the first and second floors, not including the attic and there is another 1591 square feet in the lower level. The current homeowners finished an office space and recreation room or "flex" room to use for whatever and there is a workshop down there as well.
I would like to highlight the laundry chute from the second floor down to the lower level laundry! Why don't we build more of these today? They are so handy!
This distinguished home is situated on a 146' frontage which expands over four lots. It is heavily treed for privacy. There is an in-ground heated kidney shaped pool, children's play house, one and a half car garage and a circular driveway and a side drive. It truly has a majestic architectural past; however, its qualities and the improvements made seem to harmonize with todays modern home expectations with out compromising its elegance.
This home was featured in a video documentary called "Building the Bridge".
For more information on this property just give us a call or CLICK. Rosemary or I would love to walk you through it!
Rosemary Lunau is back on the Real Estate scene here in Windsor and is very excited to reconnect with her past clients and new ones. She recently joined the Royal LePage Binder Real Estate Firm and is working out of the Tecumseh office servicing Windsor and Essex County.
It was a big move for her to relocate back to Windsor after being away for the past 6 years in her home town of Brantford. She has decided to jump in feet first and has hit the Windsor ground running!
Rosemary and I attended real estate school together in the early 90s. She and I have decided to help each other out and provide the best service possible to those looking to sell or buy real estate here in Windsor, Essex County and its surrounding areas. If you are in need of a market analysis do not hesitate to call or click. We are here to help!
Servicing Windsor Essex and Surrounding Areas - For those looking for home evaluations in Riverside, Tecumseh, Lakeshore, East Riverside, Emeryville, Belle River, Central Windsor, Walkerville, South Windsor, South Cameron, Heritage Estates, Lasalle.
Well...I was nominated by my best friend in Costa Rica Eugenia Echeverria Gaspar to partake in the ALS Ice Bucket Challenge. My Son Patrick thought it was so funny to see her son Richie dump water on his Mother's head. I thought I could get away with just writing a cheque here in Windsor, Ontario to the ALS Society of Canada and be done with it.
Boy was I wrong! My son Patrick went straight to the fridge and started filling a bucket with ice. I said no Patrick, Mommy has decided to write a cheque instead. His eyes welled up with tears and I knew I was in for some cold water on my head and boy was it cold!!
ALS is a horrible scary disease which no one is too interested in talking about let alone opening their wallet for. This crazy campaign is not well received by all and is becoming a little redundant, however; it sure has raised a lot of money for this forgotten and unpopular charity. I chose to nominate Richie Gaspar and Patrick Macleod to partake in the Ice Bucket Challenge. Patrick chose Richie my best friends son as well. We had a lot of laughs doing this.
Effective May 1st 2014, CMHC Purchase (owner occupied 1 – 4 unit) mortgage insurance premiums will increase by approximately 15%, on average, for all loan-to-value ranges.
If possible get your purchases in before May 1st, 2014 for a cost savings!
Standard Premium (Current)
Standard Premium (Effective May 1st, 2014)
Up to and including 65%
Up to and including 75%
Up to and including 80%
Up to and including 85%
Up to and including 90%
Up to and including 95%
90.01% to 95% – Non-Traditional Down Payment
As always, I am here for any real estate help. Servicing Windsor Essex and Surrounding Areas - Riverside, Tecumseh, Lakeshore, East Riverside, Emeryville, Belle River, Central Windsor, Walkerville, South Windsor, South Cameron, Heritage Estates, Lasalle, Waterfront Properties, Working with Seniors and their Families.
Windsor market in early stages of becoming a retirement destination for Canadians
Windsor, January 8, 2014 – The fourth quarter saw relatively flat year-over-year price increases for detached homes in Windsor while the condo market saw strong price appreciation according to the Royal LePage House Price Survey and Market Survey Forecast released today.
The average price for standard two-storey homes and condos both increased on a year-over-year basis, gaining 1.2 per cent to $131,350 and 5.5 per cent to $139,280, respectively. Detached bungalows saw a slight year-over-year price decrease of 0.1 per cent to $177,500.
“We saw the market remain largely flat in Windsor with a balanced inventory suitable to the number of potential buyers,”said Fred Shaw, sales manager, Royal LePage. “This is even true in the condo market where the upswing in average price is more reflective of which condos sold as opposed to a change in dynamics.”
According to Shaw, one change to Windsor’s housing market has been the slow transformation into an appealing retirement option for aging baby boomers. The decline of Windsor as a manufacturing hub has opened up the town as an affordable and well-established retirement option for older Canadians.
Looking ahead in 2014, Shaw suggests that the majority of the Windsor housing market will remain stable, but points out that some regions may be under pressure if economic or employment situations change.
“Windsor’s real estate market has seen its share of challenges due to the decline of the auto industry, but we have seen signs of recovery and stabilization,” Shaw added. `Employment is beginning to increase and the area should continue to attract new buyers looking for a retirement property.”
About the Royal LePage House Price Survey
The Royal LePage House Price Survey is the largest, most comprehensive study of its kind in Canada, with information on seven types of housing in over 250 neighbourhoods from coast to coast. This release references an abbreviated version of the survey which highlights house price trends for the three most common types of housing in Canada in 90 communities across the country. A complete database of past and present surveys is available on the Royal LePage website at www.royallepage.ca. Current figures will be updated following the complete tabulation of the data for the fourth quarter of 2013. A printable version of the fourth quarter 2013 survey will be available online on February 6, 2014. Housing values in the Royal LePage House Price Survey are Royal LePage opinions of fair market value in each location, based on local data and market knowledge provided by Royal LePage residential real estate experts.
About Royal LePage
Serving Canadians since 1913, Royal LePage is the country’s leading provider of services to real estate brokerages, with a network of nearly 15,000 real estate professionals in over 600 locations nationwide. Royal LePage is the only Canadian real estate company to have its own charitable foundation, the Royal LePage Shelter Foundation, dedicated to supporting women's and children’s shelters and educational programs aimed at ending domestic violence. Royal LePage is a Brookfield Real Estate Services Inc. company, a TSX-listed corporation trading under the symbol TSX:BRE.
So…For the year the average sale price is up 4.38%. When comparing this October to October 2012 it is up 7.84% with the average sale price being $188,199.
The above chart plots the accumulative year-to-date MLS® Residential Average Sales Price from the previous and current years on a month to month basis. The percentage reflects the change of the current month over the same month of the previous year.
Explanation: The above chart plots the accumulative year-to-date MLS® Residential Sales for the current year according to price range.
As always, I am here for any real estate help. Servicing Windsor Essex and Surrounding Areas - For those looking for home evaluations in Riverside, Tecumseh, Lakeshore, East Riverside, Emeryville, Belle River, Central Windsor, Walkerville, South Windsor, South Cameron, Heritage Estates, Lasalle.
Statistics Provided By: Windsor Essex County Real Estate Board
5 Home Staging Dos and Don’ts – for those getting ready to sell in Windsor, Ont.
When you're selling a house, you have about six seconds to make a positive impression on potential buyers. According to Professional Builders magazine, that's all the time it takes for people to decide whether they'd like to purchase your home. That means you can't rely on a stunning interior to make up for a poorly manicured lawn, or a prim bed of begonias to distract attention from peeling paint. Instead, prepping a home for sale requires attending to all maintenance and dècor details to create an attractive, cohesive presentation.
This process of converting a lived-in home into a show-worthy house is called home staging. Not to be confused with redecorating, home staging transforms the highly personalized elements of a house into an appealing blank canvas. A properly staged home should feel warm and inviting, but not worn in. As a result, a listing has a better chance of selling faster for a higher price. Home staging isn't a one-size-fits-all process -- some places will require more of a face-lift than others. But the following five do's and don'ts apply to any staging project
5: Do Clean Your Windsor, Ontario home, town home or condo "Like Crazy" The first major step involved in home staging is clearing the clutter out of the house. If you've lived at one address for a long time, you've probably amassed a collection of junk, whether it's stacks of old magazines, worn-out furniture or useless knickknacks. Home staging is the prime time to start tossing the trash; after all, you won't want to take clutter with you to your next destination. An extra set of eyes can help you cull through the mess and prod you to lighten your load. A staged home must also be sparkling clean. This is time to get out the toothbrush and scrub every nook and cranny. Baseboards, window frames, appliances, grout — all surfaces must gleam. To tackle larger jobs, such as cleaning carpets and window treatments, consider calling in the professionals.
4: Don't Forget About Curb Appeal The lawn and Windsor landscape deserve as much care as the inside of the house; after all, they're the first thing people notice. When staging, you have to think like a prospective buyer. Would you seriously consider a house with a brown, parched lawn? Probably not. Get the lawn in shape and use mulch and bedding when necessary to fill in trouble spots. Trim hedges and trees, making sure that they aren't blocking the house's visibility. Flowers and bright-leafed plants add welcome splashes of color, especially around entrances. Possibly add outdoor seating or a grill to the patio and deck area — that added touch allows buyers to imagine relaxing and enjoying those features. Also assess the outside of the house. Cracking paint, broken shutters and sagging gutters should be fixed. Put some extra thought into the appearance of the doorways; buyers and realtors will have an up-close view of them, and you'll want them looking pristine and welcoming. To cap things off, pressure wash the exterior of the house
3: Do Stick With Neutrals As mentioned earlier, home staging isn't another term for design overhaul. But if your Windsor dwelling needs a more dramatic makeover to transition it from family crash pad to model home, a fresh coat of paint can work wonders. Better yet, painting can have as much as a 150 percent return on investment. But if you're playing with color, stick with neutrals. Creams, beiges and soft browns can brighten a room without overpowering it. Remember that the goal of successful staging is an attractive living area that people can envision themselves in. Choosing a bold palette may alienate prospective buyers, and too much color contrast can distract. To spice up a space, rely on tasteful furniture and accessories to do the heavy lifting. Professional home stagers may recommend renting upscale furnishing to create the polished effect. This may seem like a gratuitous expense, but if your high-class dècor fetches a higher offer for the home, you'll save money in the end.
2: Do Update When Necessary Although home staging shouldn't involve much in the way of major renovation, spot updates can bring a house built years ago into today's market. Look around for features that date your house, including wood paneling, shaggy carpet and old appliances. These are immediate buyer turnoffs. Take stock of furniture as well. Is that loveseat a little too loved? Or maybe the bed in the master suite is lacking. In that case, a professional home stager may advise putting your old furniture in storage and bringing in rented replacements. Home-staging experts also recommend focusing first on the kitchen, since it's the primary room that prospective buyers are interested in. Adding at least one stainless-steel element, for instance, can give it a fresh look for marginal cost. Even changing out the hardware on cabinets and drawers can make a surprising difference.
1: Don't Leave Behind a Personal Touch For home owners, one of the hardest parts of staging can be removing personal signs of ownership. It may seem endearing to leave up candid photos, report cards and crayon drawings on the refrigerator, but they may be a costly diversion. Take down the family portraits, kitschy collectibles and even monogrammed towels. In order for prospective buyers to imagine living in a house, they can't see constant reminders of your presence. Just like selecting neutral wall colors, the dècor should also be somewhat muted for broad appeal. Removing the individual touch may also include rearranging furniture to open up spaces.
Bedrooms and bathrooms ought to showcase minimal personal items as well. Perhaps most importantly, a well-staged home gives no indication of any residing pets. Someone who isn't a dog lover may be instantly deterred at the sight of Fido's food bowl by the door or a leash daggling from a coat rack. When it's time to groom your house for the real estate market, just keep in mind that people want to buy a place of their own — not one that has your signature all over it.
As always, I am here for any real estate help. Servicing Windsor Essex and Surrounding Areas - Riverside, Tecumseh, Lakeshore, East Riverside, Emeryville, Belle River, Central Windsor, Walkerville, South Windsor, South Cameron, Heritage Estates, Lasalle, investing in rental properties in Windsor.