Just Listed Tecumseh Family Home
• 3 bath, 3 bdrm 2 story "Full Brick" - 
MLS® $204,777
Tecumseh, Essex County - BEAUTIFUL FULL BRK 2 STY THAT FEATURES 3 BDRMS, 3 BATHS, FULLY FINISHED LWR LEVEL WITH EXTRA BEDROOM OR KIDS PLAYROOM, BRAND NEW BATH W/CERAMIC SHOWER, CORNER OAK BAR, NEW CERAMIC FLRS. HUGE REAR YARD W/LRG SUNKEN POOL & DECK, BRAND NEW SHED & 2 NEW CEMENT PATIOS.
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Boblo Island
• 4,750 sq. ft., 4 bath, 3 bdrm 2 story - MLS® $699,900
BobLo Island, Amherstburg - CUSTOM BUILT BOB-LO ISLAND BEAUTY - A MUST SEE! 4750 SQ FT OF LUXURIOUS FINISHED FAMILY LIVING AREA. 10 FT CEILINGS, LIMESTONE FLRG, HICKORY WOOD FLRS, MBDRM W/GAS FIREPLACE, ONE YR NEW CUSTOM BUILT, ANTIQUE LIGHTING, MAPLE KITCHEN, GORGEOUS FINISHED BSMT, WATERVIEW W/MILLION PLUS DOLLAR HOMES. BUILT IN APPLIANCES, FINISHED GARAGE, 2 FIREPLACES, 3.5 BATHS, WHIRLPOOL, HRV, C/VAC.
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Boblo Island
• 3 bath, 4 bdrm 2 story - MLS® $329,900
BobLo Island, Amherstburg - EXCEPTIONALLY THOUGHT OUT & DECORATED, CUSTOM BUILT 4-5 BDRM, 3 FULL BATHS, 2 STY W/ISLAND VIEWS TO DIE FOR. STUNNING MAPLE & GRANITE KITCHEN W/B-INS, ANDERSON WNDWS W/ELEGANT COVERINGS. TONS OF NATURAL LIGHT. 2 CAR DEEP GARAGE. MAIN FLR LAUNDRY & ALL THE AMENITIES OF THE ISLAND. THIS NEUTRALLY DECORATED HOME IS PERFECT FOR ALL YEAR ROUND. PLEASE CONTACT L/S FOR ASSOCIATION & FERRY FEES.
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With Chrysler going into bankruptsy protection is this a good time to buy since Windsor is so dependent on the auto jobs? Based off of what I've read Chrysler production has been guranteed for 3 1/2 years at the WAP. Given that prices are at historical lows, mortgage rates are at levels nobody ever dreamed they'd be now seems like a very good time to invest in a home. Supply is abundant, prices are low, and Chrysler seems to be "saved" for the next 3 1/2 years. We may end up building small cars instead of the mini van, but a job is a job.
So have we reached the bottom in the real estate market? There is never any way to tell if we've hit bottom in any market, whether it be the stock market, housing market job market etc. But speaking from my personal point of view there have been numerous times over the last 15 years where I said "man I should of bought then". It's not a great feeling. So I'd say I'm cautiously optomistic and hopefully I can say in 3-5 years "man I'm happy I bought a few years ago".
Have A Great Weekend,
Don Merrifield Jr. ABR
First-time buyers driving force in Canada’s residential real estate markets, says RE/MAX
Entry-level purchasers are now the engine driving home-buying activity in almost every major centre in Canada, according to a recent report released by RE/MAX.
The 2009 RE/MAX First-Time Buyers Report, highlighting first-time buying activity in 32 residential housing markets across Canada, found that improved affordability is prompting many first-time buyers to get off the fence, out of the rental, and into the market. While a sense of caution still prevails, more and more first-timers are finding it hard to pass up the chance to become homeowners in today’s buyer-centric real estate climate. Increased inventory and longer days on market, coupled with the lowest lending rates ever, are presenting opportunities that have not been seen in almost a decade.
While the current economic crisis has caused some first-time buyers to either take it slowly or apply the brakes, home ownership remains a top priority for those who are able to take advantage of reduced carrying costs, rock bottom interest rates and lower house prices. Affordability has greatly improved and buyers are firmly in the drivers’ seat in just about every market we surveyed. The new reality is that homeownership remains well within reach for most first-time buyers.
Although the year got off to a slow start, February home sales were well ahead of those reported in January. The upward trending is expected to continue as more and more first-time buyers enter the market in the weeks ahead. The flurry of activity in the lower-end may also serve to kick-start sales in the mid-to-upper end of the market, which have, as expected, been relatively sluggish in recent months. While inventory and days on market was up virtually across the board, it’s noteworthy that several markets reported tighter conditions in the lower end of the market, where demand and buyer activity remains quite healthy.
Canadian markets from coast-to-coast are ripe for a reawakening as the weather warms up. First-time buyers seem more acclimatized to economic factors, even though the barrage of bad news continues to flow. Those who are secure in their jobs, have accumulated good down payments, and have acceptable credit ratings are continuing to venture forward, undeterred by tighter lending criteria.
According to the RE/MAX Report, buyers are clearly in control in most Canadian markets. Of the 32 markets surveyed, 22 (69 per cent) remain firmly in buyer’s market territory. These include Vancouver, Surrey, Port Coquitlam, Chilliwack, Kelowna, Victoria, Edmonton, Calgary, Saskatoon, Regina, Ottawa, Peterborough, London-St. Thomas, Niagara Falls, Mississauga, Metro Toronto, Northern GTA, Kingston, Windsor, Hamilton-Burlington, Barrie, and Halifax-Dartmouth. Ten (31 per cent) report more balanced conditions: Winnipeg, Kitchener-Waterloo, Sudbury, North Bay, St. Catharines, Saint John, Moncton, Fredericton, St. John’s, and Charlottetown.
Forty per cent of markets offered single-detached homes priced under $200,000, including Charlottetown, Saint John, Moncton, Peterborough, Niagara Falls, St. Catharines, Windsor, Fredericton, Halifax-Dartmouth, London, North Bay, Kingston, Saskatoon and Winnipeg. More than two-thirds (71 per cent) offered condominiums starting under $200,000, (Moncton, Fredericton, Halifax-Dartmouth, Sudbury, North Bay, Peterborough, Mississauga, Burlington, Niagara Falls, St. Catharines, Kitchener-Waterloo, London, Windsor, Surrey, Chilliwack, Victoria, Kelowna, Edmonton, Saskatoon, Regina, and Winnipeg).
The most affordable markets for detached homes, based on starting prices are: Moncton ($115,000), Charlottetown ($120,000), and Saint John ($130,000) in Eastern Canada; Windsor ($75,000), Niagara Falls ($119,000), and St. Catharines ($125,000) in Ontario; Winnipeg ($185,000), Saskatoon ($190,000), and Regina ($210,000) in Western Canada.