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.
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
Try to buy a home that meets most of your needs for the next 5 to 10 years, or find a home that can grow and change with your needs.
Take a moment to think about the following...
Size and Layout How many bedrooms do you need? How many bathrooms do you need? If you work from home in Windsor, do you require space for a home office? What kind of parking facilities do you need? For how many cars?
What type of features are you looking for in your Windsor home?
Do you want air conditioning? If so, what type? If central air is in the budget, it is a welcomed feature as summers in Windsor Essex tend to really get hot and humid. Do you want storage or hobby space? Is a fireplace or a swimming pool high on your list? Do you have family members with special needs? Do you want special features to save energy, enhance indoor air quality, and reduce environmental impact?
Life Strategies No matter what type of housing you choose, you must have a clear idea of your needs today, as well as your possible future needs. These are some examples of questions homebuyers might ask: Do I plan to have children? Do I have teenagers who will be moving away soon? Am I close to retirement? Will I need a home that can accommodate different stages of life? Do I have an older relative who might come to live with me?
Buying a home a home in Windsor Essex and the surrounding areas is one of the biggest decisions you will make in your life. Be careful and ponder what will and will not work for you and your family now and in the somewhat distant future.
As always if you require any real estate assistance do not hesitate to call upon us. Servicing the Windsor Essex areas -Riverside, Tecumseh, Lakeshore, Central Windsor, East Windsor, South Cameron, Lasalle, South Windsor, Old Walkerville, Waterfront Properties, Kingsville, Foreclosures and Bank Repossessed Properties.
To obtain CMHC Mortgage Loan Insurance, lenders pay an insurance premium. Typically, your lender will pass these costs on to you. Your lender will give you the exact price when you apply for a mortgage.
The CMHC Mortgage Loan Insurance premium is calculated as a percentage of the loan and is based on the size of your down payment. The higher the percentage of the total house price/value that you borrow, the higher percentage you will pay in insurance premiums.
Remember: without mortgage insurance you may avoid the insurance premium but you’ll typically pay much higher interest rates and additional administrative fees. At the end of the day, for the vast majority of borrowers, the cost of CMHC Mortgage Loan Insurance is more than fully offset by the savings achieved.
A 10% premium refund and extended amortization period without surcharge may be available when CMHC Mortgage Loan Insurance is used to finance an Energy-Efficient Homes.
Premium on Total Loan
Premium on Increase to Loan Amount for Portability and Refinance
Self-Employed without 3rd Party Income Validation
Self-Employed without 3rd Party Income Validation**
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***
Extended Amortization Surcharges Add 0.20% for every 5 years of amortization beyond the 25 year mortgage amortization period.†
For portability and refinance, the premium is the lesser of Premium on Increase to Loan Amount or the Premium on Total Loan Amount. In the case of portability, a premium credit may be available under certain conditions.
* Premiums shown with an “*” do not apply for refinance. For portability the maximum LTV ratio is 90%, but CMHC may consider higher LTV ratios when the new ratio is equal to or less than the original LTV. For portability, the premium is higher for non-traditional down payments on Increase to Loan Amount.
** For conversion from Self-Employed with traditional 3rd party income validation to Self Employed without traditional 3rd party income validation, the premium is the lesser of: a) the Premium on Total Loan Amount or; b) the outstanding balance multiplied by a 1.5% premium plus the Premium on Increase to Loan Amount.
*** Down Payment Requirements – Traditional sources of down payment include: Applicant’s savings, RRSP withdrawal, funds borrowed against proven assets, sweat equity (<50% of min.required equity), land unencumbered, proceeds from sale of another property, non-repayable gift from immediate relative, equity grant (non-repayable grant from federal, provincial or municipal agency). Non-traditional sources of down payment include: Any source that is arm’s length to and not tied to the purchase or sale of the property, such as borrowed funds, gifts, 100% sweat equity, lender cash back incentives.
† The amortization cannot exceed 30 years for mortgage loan-to-value ratios > 80%.
Premiums in Ontario and Quebec are subject to provincial sales tax. The provincial sales tax cannot be added to the loan amount. Information provided by CMHC and is subject to change.
If you live in Windsor and are buying your first home please not hesitate to ask us about our Buyers Package. We are just a call or click away. Servicing the Windsor Essex areas -Riverside, Tecumseh, Lakeshore, Central Windsor, East Windsor, South Cameron, Lasalle, South Windsor, Old Walkerville, Estate Sales, Waterfront Properties, Foreclosures and Bank Repossessed Properties.
The latest MLS statistics are in for home sales in Windsor and Surrounding areas. Although sales are down over all for the year we are up 10% for the month of May, in comparion to May 2011. The most successful selling price range in Windsor Essex County and surrounding areas year to date appears to be $140,000 to $180,000.
Please note: this webpage is compiled of multiple interactive graphs. Please feel free to click and hoover to experience the full potential. For example, each bar/line contains additional information when you hoover above it, and years can be activated/deactivated by clicking on the legend.
As always if you require any real estate assistance do not hesitate to call upon us. Servicing the Windsor Essex areas -Riverside, Tecumseh, Lakeshore, Central Windsor, East Windsor, South Cameron, Lasalle, South Windsor, Old Walkerville, Waterfront Properties, Foreclosures and Bank Repossessed Properties.
HOME ENERGY AUDITS IN WINDSOR
The Government of Ontario passed the Green Energy Act, 2009 on May 14, 2009. Part of the Act includes a section that would require Sellers in Windsor and those selling in Ontario to provide home energy ratings to Buyers. The Buyer may choose to waive looking at or requiring a home energy audit. If this is the case it would be necessary for the Buyer to put this in writing.
Despite having passed the Green Energy Act, the government has not passed the required regulations which would implement a provincial system of Mandatory Home Energy Audits. Without these regulations thus far in place, Mandatory Home Energy Audits in Windsor are not required by law. At this point the Ontario Real Estate Association OREA has been in discussions with the Ministry of Energy staff and has learned that the government has no timeline currently in place to begin consulting on draft regulations. The Ministry has assured OREA that they will be one of the first they consult if the decision is made to proceed.
We believe there will be changes in the near future to how real estate transactions are done here in Windsor with regards to Home Energy Audits and that they will be made mandatory. This will be an added cost to the Sellers. If you are thinking of Selling it may be in your best interest to sell sooner rather than later to avoid these additional costs. Mandatory Home Energy Audits are coming to Windsor...it is just a matter of when.
Servicing Windsor Essex County and Surrounding areas – Riverside, Tecumseh, Lakeshore, Central Windsor, East Windsor, South Cameron, Lasalle, South Windsor, Old Walkerville, Waterfront Properties on Riverside Dr., Waterfront Properties on Lake St. Clair and Lake Erie, Condos, Income Properties, Helping Seniors and their Families in the Windsor Real Estate Market. If you need any real estate help or would like a Sellers Home Evaluation please get in touch.
Carrie-Lynn and Mariella