New mortgage stress test rules will block 50,000 people from buying: mortgage group New rules aimed at cracking down on the mortgage market will result in 100,000 people failing a stress test of their finances, and about half of them will be blocked from buying a home. That's one of the major takeaways of a new report published Tuesday from Mortgage Professionals Canada, an industry group that represents 11,500 mortgage brokers, lenders and insurers. The federal government has moved seven times since 2008 to tighten rules surrounding the real estate market, and practically every time, the market has shrugged off tighter rules around areas like maximum debt loads and amortization periods. But new rules implemented in October could be different. Starting January, uninsured borrowers from federally regulated lenders must have their finances "stress tested" to ensure they would be able to pay off their mortgages if rates were higher than they are today. To do that, the lender must run a test assuming rates were two percentage points higher than they are right…
‘LIKE’ and ‘SHARE’ to WIN Two Tickets to the Red Wings vs. Tampa Bay I am excited to bring you your chance to WIN two tickets to see the Detroit Red Wings take on the Tampa Bay Lightning at Little Caesar’s Arena on January 7th, 2018! You can enter for your chance to win these great tickets to see the Wings against the Lightning when you ‘LIKE’ my Facebook page and ‘SHARE’ my post about this giveaway. The winner will receive two great seats for the game - Section M28, Row 3, Seats 14 & 15 - located directly in line with centre ice with an outstanding view of all the action. These are also club seats, giving you access to the West Sideline Club with its own dedicated food and drink services, helping to give you an even better night out at the game. These tickets give you tremendous seats and an amazing experience at the game to see the Red Wings against one of the best teams in the NHL, so enter for your chance to win today. The winner will be drawn before the end of December - good luck to everyone who enters, and remember, to have your chance…
5 Best Cities To Live In Where Houses Are Under $400K Fed up with high house prices in Toronto or Vancouver? Thinking of packing up and moving elsewhere? We hear ya. With the average price of a single-family home in both these cities well above $1 million, plenty of people in Canada's priciest cities are looking for alternatives. Under the federal government's new mortgage rules, the average-earning household in Canada — with a total income of $80,000 — can get a mortgage of around $380,000 today (assuming a 25-year mortgage at three per cent). That, plus the down payment, is what an average household in Canada can afford. So we combined the Bank of Montreal's labour market report card with data on house prices from the Canadian Real Estate Association to come up with a ranking of the best cities to set up shop, where an average home costs less than $400,000. Here's what we found. 5. Halifax BMO labour market ranking: 12 Average household income: $84,560 Average mortgage payment: $1,038 People outside the Maritimes rarely…
1578 Caille Ave. Lakeshore Home Sold! Lakefront living at its best! My newest property for sale is a custom built 2 story home on Lake St. Clair. Type: House Address: 1578 Caille City: Lakeshore, ON Bedrooms: 4 Baths: 3 List Price: $719,000 This beautifully-finished and quality built new home boasts a number of outstanding features, including a picturesque view of the lake, 4 bedrooms and 3 baths, maple kitchen with quartz and peninsula, formal dining room, bamboo hardwood throughout, and a master bedroom with bright ensuite, fireplace, walk-in closet, and balcony. It also offers a huge second floor family room, oversized heated garage (22x35) with workshop, and so much more. This home truly must be seen in person to be fully appreciated. For further details, and to get a great look at this outstanding Lakeshore property for yourself, view my iGuide tour below: To schedule your own private viewing, or for more information on this beautiful Lakeshore home for sale, call me at (519) 818-8989 or contact me today. I would…
359 Elmgrove, Lakeshore Home Sold! Searching for an incredible luxury property? My newest listing is a majestic home for sale in Lakeshore on one of the most prestigious and desirable streets in the country. Type: Address: City: Bedrooms: Baths: List Price: House 359 Elmgrove Lakeshore, ON 4 4 $699,900.00 This home is being sold by the original owners and is custom built on a beautiful 100 ft. lot. This tremendous full brick, two storey home features hardwood floors, updated cherry kitchen, main floor family room with natural fireplace, spacious master bedroom with adjacent den/nursery, ensuite with 6’ air jet tub, newer energy efficient furnace, alarm system, central vacuum, and many more outstanding features and updates. On the exterior of the home you will find a newer roof (7 yrs.), three car garage (two tandem), sprinkler system, and a beautifully manicured landscaped and treed lot, all located in a gorgeous and extremely sought-after neighbourhood that places you close to the best that the towns of Lakeshore…
1320 Chateau Ave, Windsor Home Sold! Not yet on MLS! My newest property for sale is this truly beautiful Windsor townhouse, located in the neighbourhood of East Riverside. Type: Address: City: Bedrooms: Baths: List Price: Townhouse 1320 Chateau Ave. Windsor, ON 3 2 $299,900.00 This outstanding property, which backs onto Lakeshore Woods, features hardwood floors, oak kitchen with breakfast bar, granite throughout, two fireplaces, studio vaulted ceilings, and so much more. It offers two baths and three bedrooms, including a master bedroom with oversized ensuite with Whirlpool tub and a third bedroom in the fully finished basement. This home includes main floor laundry, new roof (2016), no Kitec plumbing, and sanitary backwater valve installed. Outside, you will find a covered patio overlooking the park as well as a gas BBQ hookup, allowing you to fully enjoy the outside of this wonderful home as much as the inside. Lawn maintenance and snow removal services are included with this property at a cost of $55/month. You will…
Canada's housing market seen headed for deceleration over next 5 years Toronto market seen posting more gains, Vancouver forecast to hold steady Amid tighter housing rules and rising interest rates, the Canadian real estate market is facing several years of "retrenchment" and slow price gains, a new report from Moody's Analytics suggests. However, the moderation won't be even across the country, says the author of the report. "Exact turning points are difficult to predict, but the combination of restricted mortgage lending, taxes on foreign purchases in the largest metro areas, and the expectation of higher mortgage rates means that house prices are likely to experience a slowdown in the next few years, especially if speculative home purchases in Toronto and Vancouver are reduced or shut down," Moody's director Andres Carbacho-Burgos said in the study. He said that while Greater Vancouver and Toronto will avoid any significant house price downturn, it is likely that Quebec, the Prairies, and the Atlantic provinces will have…
Joining the Quarter Century Club I am proud to have spent over twenty-five years in real estate in Windsor-Essex County. Read the article below to find out more about my experience and outlook on real estate, and how I can help you buy or sell your next home.
Q2 2017 Windsor-Essex County Real Estate Market Statistics The market statistics for residential real estate in Windsor and Essex County are now in for the second quarter of 2017 (April 1st to June 30th), and they continue to show significant growth in a number of categories throughout the region. When compared to the same time period last year, we can see a substantial increase in the average sale price, percentage of listings sold, number of homes sold, and home equity gain, all of which is indicative of a strong seller’s market. The strong market for sellers for Windsor-Essex real estate can seen through an 8.4% increase in the number of home sales compared to the same quarter in 2016. The average sale price of a home in the Windsor-Essex region has increased to $267,715, up 19.1% over the previous year, giving homeowners an average equity gain of $43,564. New listings were down slightly compared to 2016, with 6,418 new listings representing a 1.1% decrease from the same time last year. These numbers show that there is a continuing demand…
Welcome to My New Website As I continue to work to provide my clients with the best information and assistance when it comes to buying or selling a home, I am happy to bring you my new website. I hope that you find the listings, tools, and resources here helpful to you as you decide about how to move ahead with your next real estate transaction. Learn more about the homes for sale in Windsor and Essex County from my listings page, and browse properties for sale by neighbourhood, trending area, or view all listings. You can also find out more about my passion for heritage homes and historic properties around Essex County, and learn more about some of the special considerations to take into account when looking at this type of property. You can also find out more about my history in real estate, including my 25+ years in the business and the importance I place on building lasting relationships with my clients. I truly want to bring the value of my experience and passion for real estate to work for each of my clients,…
Historic Homes for Sale in Windsor and Essex County The heritage homes for sale in Windsor and Essex County are one of my passions when it comes to real estate. I have a great deal of expeirence helping my clients find the right hertiage homes for sale, and guiding them in learning more about what to look for and how to restore these historic buildings. Read the article below to learn more about my expierence and knowledge when it comes to heritage homes in Windsor-Essex.
