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Carrie-Lynn Macleod
Broker, ASA

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CMHC To Increase Mortgage Premiums as of May 1st, 2014
Posted on Sat, 01 Mar 2014, 06:43:27 AM  in CMHC ,  Buying a home or Condo in Windsor Essex ,  2014 Increase in CMHC Mortgage Premiums in Windsor, Ontario
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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!

Loan-to-Value Ratio

Standard Premium (Current)

Standard Premium (Effective May 1st, 2014)

Up to and including 65%

0.50%

0.60%

Up to and including 75%

0.65%

0.75%

Up to and including 80%

1.00%

1.25%

Up to and including 85%

1.75%

1.80%

Up to and including 90%

2.00%

2.40%

Up to and including 95%

2.75%

3.15%

90.01% to 95% – Non-Traditional Down Payment

2.90%

3.35%

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.

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Windsor Area Real Estate Market Report for Oct. 2013
Posted on Sat, 02 Nov 2013, 09:23:02 AM  in windsor Ontario real estate statistics,  Windsor Ontario MLS Statistics for Oct. 2013
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Windsor MLS Stats

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.

Windsor MLS Average Sale Price Oct. 2013

 

 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.

 Windsor MLS Stats by Price Range Oct. 2013

Explanation: The above chart plots the accumulative year-to-date MLS® Residential Sales for the current year according to price range.

 Most Popular Style of House in Windsor Ont. Oct. 2013

 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

 

 

 

 

 

 

 

 

 

 

 

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The Chicken and Egg Question When it Comes to Real Estate: Should You Buy or Sell First?
Posted on Wed, 13 Mar 2013, 08:43:51 PM  in Home buying tips,  Home selling tips,  My services,  Houses for sale in Windsor Ontario,  Preparing your home for sale in Windsor Ont,  Windsor Ontario First Time Buyers,  Buying a home or Condo in Windsor Essex ,  Home Ownership,  Windsor Real Estate,  Windsor Home Buying Tips,  Windsor Ont. & Tecumseh real estate for sale
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For homeowners in the Windsor area who are aiming to sell their home and buy another, it's the classic real estate, which came first, the chicken or the egg, question -- buy or sell first?

If you sell first, you may find yourself under a tight deadline to find another house, or be forced in temporary quarters. If you buy first, you may be saddled with two mortgage payments for at least a couple months. You may need the money from the sale of your original home in order to pre-qualify for a loan for your new home. You may be facing a job relocation and need to sell quickly.
There are many variables involved; there is no universal correct answer. It basically comes down to your specific circumstances.
Dan Gregor, a Realtor in Pickerington, Ohio, says there is generally less pressure when you sell first.
"It really comes down to risk," Gregor said. "It's whether you want the risk of owning two houses, or possibly none at all." Gregor says that if you have the money to make two mortgage payments, the pressure is off. But if you need to sell your house in order to qualify for a loan, then you have no choice -- you'll have to sell first. "You can write contingent contracts, but if you really want the home, you'll pay a premium -- that's if the seller will even entertain a contingent offer," he says.
And if you go ahead with a contingent offer, then you may end up settling for less for the house you're selling in an effort to get it sold quickly. Gregor says for most people, the stress level is lower when you sell first. "You have time to get pre-approved for your mortgage and see all the housing options in the price range you'd like to buy," he said.
When your selling house is in contract, he suggests you pick the three best homes of those you've viewed and prepare to make an offer on the one that best meets your needs. "The absolute worst that can happen is the right home isn't available," Gregor said. "You end up in a short-term rental with the cash in your pocket and pre-approved financing for the balance you need. So you look like a cash buyer when you make an offer on the home you finally decide on." But brisk selling conditions in some parts of the country require more aggressive tactics.
Brett Furman, a broker in suburban Philadelphia, says the strong market dictates that homebuyers focus on buying first, and selling later.
"The housing market in the suburban Philadelphia market is moving very quickly," said Furman. "Normally we advise our buyers to sell their home first and buy second ... However with the faster moving market, we are advising many of our buyer clients to obtain a mortgage commitment that is not contingent upon selling their existing house."
In their book, House Selling for Dummies (Hungry Minds Inc., 1999), Eric Tyson and Ray Brown "strongly recommend" that you sell first.
"Even in good real estate markets, sales frequently drag on much longer than you expect," the authors say. "Selling in a weak market usually compounds the problem. Homeowners tend to overestimate their house's resale value and underestimate the length of the selling process -- a fiscally deadly one-two punch."
The Dummies book says selling first eliminates financial risk -- no double mortgages and double payments for property taxes and insurance payments. And no worrying about how you'll come up with a down payment.
But selling first isn't the perfect solution. Some of the issues that may come up include:
  • Being forced out of your house before you have a new place available. Where will you live? Where will your kids go to school?
  • Having to move twice. Do you want to go through the hassle? Where will you store your extra furniture while you live with family and friends or rent an apartment?
  • Not being able to find a house you like. How long are you willing to live in temporary quarters until you find a suitable house?
Whichever way you go, it always seems to work out in the end, at least in Gregor's experience.
"I've been in the business for 30 years," he said. "We've never had anyone out on the street and the vast majority of our clients that make double moves are those building new homes that had to have their property sold first."
Many thanks to Michele Dawson of Realtor.com for sharing this article.
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Subject: A Special Announcement from Carrie-Lynn Macleod, Broker, ASA
Posted on Thu, 07 Mar 2013, 10:37:41 PM  in Buying a home or Condo in Windsor Essex
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Carrie-Lynn Macleod joins Royal LePage Binder Real Estate

 

Usually I am the one helping people make a move. This time I am the one who has moved!

I recently made a career decision to change real estate firms. I would like to share with you that I have enthusiastically switched my Broker's License over to Royal Lepage Binder Real Estate.

I will be working primarily out of the Tecumseh office, 13158 Tecumseh Rd. E. It is close to the corner of Manning Rd. & Tecumseh Rd. (located west of the TD Canada Trust Bank). I also have the ability to meet clients at 2480 Ouellette Ave. in Windsor.

Please be assured that just because the company name has changed, the level of service I provide to clients hasn't.  My clients will continue to receive all of my passion and hard work. I will do what ever it takes to help people achieve their real estate goals.

As always, I am here for real estate assistance.  Servicing Windsor Essex County and Surrounding areas - Riverside, Tecumseh, Lakeshore, Riverside Dr., Central Windsor, Old Walkerville, South Windsor, South Cameron, Lasalle, Heritate Estates and our Coastal Areas.

Let's keep in touch!

Office: 519-735-7222

Direct: 519-919-8009

Email: info@windsoronthouses.com

Or at my website: www.windsoronthouses.com

Please feel free to connect me with on Facebook or Twitter too.

I look forward to working with you and thank you for your continued business and friendships.

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