Windsor Real Estate Blog

A two-year-old campaign to lure retired couples to the Windsor-Essex area is beginning to bear fruit — $46 million worth. That’s how much in retail sales the 161 families that have relocated have generated. And that’s only the beginning, say those involved in the 100-Mile Peninsula retirement living initiative.

“(It) is just starting to gain some traction,” said Phillip Young, whose son moved to Windsor to attend university before getting married and deciding to put down roots.

“We’d been coming here to visit and fell in love with it. We think others will as well given the opportunity. “We just need to tell the world we are open for business.” Citing low retail prices, a warm climate, golf courses, wineries, lakes, festivals, a casino, proximity to both amateur and professional sports and location, the Windsor Essex Active Retirement Community Initiative is making inroads in establishing the region as a preferred location for the 50-plus retirement demographic.

“Perhaps because we’re newcomers, we see the glass as half-full and not half-empty,” said Young who moved to Lakeshore with wife Frances from Edmonton. “I think we see the potential in what the region has to offer and not just the challenges.” Young has become an active volunteer on behalf of the retirement living initiative, conducting a survey of about 20 per cent of the area’s real estate agents to help determine the number of people who have moved here and what it’s meant in real estate sales.

According to Young’s research, 99 of the 161 new families have moved here from elsewhere in Ontario while 18 have come from British Columbia and another 17 from Alberta.

Windsor has been the largest recipient of these newcomers with 60 followed by Kingsville with 24, Lakeshore with 20, Leamington with 19 and Amherstburg with 15.

“We believe the numbers will be much higher once the survey is complete,” said Guy DiPonio, who is also a volunteer member of the initiative’s board of directors. “It’s one of those initiatives which has traditionally fallen between the cracks of tourism and economic development offices.” Partners in the campaign the Greater Windsor Home Builders Association, the Windsor Essex Regional Chamber of Commerce and the Windsor Essex County Real Estate Board. DiPonio said active retirees, or those over 50, are a growing demographic with 2.2 million living in Ontario alone. Canadians over the age of 50 also control 74 per cent of the country’s wealth, 58 per cent of its consumer spending, have an average net worth of $560,000 and $7 billion in retirement savings. Louise Keller and her husband Dennis started researching retirement alternatives two years before she and husband Dennis made the move. “We spotted Leamington in some articles about retirement living and it kept growing on us.” The Kellers now own a townhome in Leamington which they bought for less than the cost of a building lot in Surrey. “We had some issues initially with Windsor’s proximity to Detroit and its reputation for crime but once we visited, those fears went away,” said Dennis. DiPonio said it’s estimated that families make 4.6 visits before deciding to move and at that point, they are visitors and tourists. “It’s highly lucrative in both areas.” “Once they move, they’re an economic indicator whose spending generates jobs and economic growth.”

© Copyright (c) The Windsor Star

Windsor has been proclaimed the cheapest place in the country to buy a middle-class home, which comes as no surprise to people who’ve already sold homes elsewhere for a bundle and paid substantially less for a better house here.

“To buy what we sold our place in Toronto for, we’d have a mansion here,” said Jo-Anne Coutts, who with husband Don left their condo in the Young and Eglinton area of Toronto in January, “semi-retiring” to a backsplit in Riverside and socking away the money left over.

So many of their friends couldn’t figure why they’d leave Toronto for Windsor, but Coutts says you can’t compare the two lifestyles. Here there’s no traffic, no stress, better weather, a wonderful waterfront, and everything — the parking, the restaurants — is cheaper.

She’s surprised more people from high-priced cities like Toronto aren’t flocking here.

“There’s nothing I can complain about, about Windsor.”

The report issued this week by realtor Coldwell Banker compared the average price of a four-bedroom, two-bathroom home — the kind of house many middle-class people want to own.

Compared to Vancouver ($1.3 million), Oakville ($741,638), Calgary ($551,920), Saskatoon ($484,000), Toronto ($495,398), Winnipeg ($343,160) and even working-class St. Catharines ($265,450), Windsor’s price is bargain basement cheap at $158,242.

The next cheapest city is Moncton, N.B., where a four-bedroom goes for $201,522. In Fort McMurray, Alta., where the average price is $593,390, it will cost you $439,900 to move into what appears to be a gussied-up mobile home.

The report paints Windsor as a great place to move for out-of-towners who are retired or work from home.

The Windsor area “has got a lot of positive things going for it,” said John Geha, president of Coldwell Banker Canada, citing the Detroit River and lakes, the county’s fruit and wine attractions, cross-border attractions and the mild climate.

For retirees from elsewhere in Canada who want a better climate but are leery to live in the southern U.S. because they want Canadian health care, Windsor is a great option, he said.

People who’ve moved here also cite the convenience of having Detroit Metro airport so close for travelling, access to golf courses, Detroit pro sports teams, and cultural attractions like museums and the symphony.

“That’s not fluff,” Geha said of all Windsor’s assets. “You take it as a very serious marketing opportunity.”

The local real estate board, home builders association and chamber of commerce have banded together for the 100 Mile Peninsula campaign, to encourage people and companies to move here, and touting low housing prices. No one from the campaign returned phone messages on Thursday.

Larry Moore, 38, said Windsor’s low-cost housing was one of the major reasons he moved here from Brandon, Man., five weeks ago. He’d previously been considering a job opportunity in Saskatoon, but he would have spent $450,000 to $500,000 for the kind of house he bought here for around $300,000. He landed a management position in Windsor at Anchor Danly.

“I came from a house that was three-bedroom, a bungalow built in the ’60s,” he said. “For the same price, I got a brand-new, three-bedroom, and there’s probably an extra 700 square feet.”

Anna Vozza, president of the Windsor-Essex County Real Estate Board, said she recently showed houses in the $200,000 range to a woman considering moving here from Oakville.

“She was amazed at what we looked at in terms of value,” said Vozza.

Another client was transferring to Windsor from Toronto, and the price range he originally gave her was simply too high. “He was shocked at what we found for $350,000, shocked,” said Vozza.

She said she doesn’t like to call Windsor’s housing the “cheapest,” instead calling it the best-valued real estate in the country.

The Coldwell Banker report cites Windsor’s struggling economy as the reason our prices are so low, but Vozza said housing prices have always been a great value here.

In four years, the average housing price has declined slightly, from around $165,000 in 2007 to $161,820 to date this year. And prices are rising in recent months, to $167,893 for August.

“We’re coming out of recession, slowly,” said Vozza.

A Lakeshore house like the one listed by Jerry Seguin and Russell Newman for $197,700 would sell for a half-million in many other Canadian markets, said Seguin.

In addition to four bedrooms this brick-to-roof Cape Cod has a bonus room, two baths and beach rights. It’s been on the market four or five months and the price has dropped from $229,000.

“I can’t believe it hasn’t sold yet, other than it’s between Stoney Point and St. Joachim,” said Seguin.

Newman, who specializes in waterfront properties, said in the last year or so people from Toronto and other Ontario cities have been coming down to look for a cheaper alternative to Muskoka cottages.

Americans who used to own waterfront have sold out, discouraged by border hassles and the exchange rate.

Newman said Toronto clients are shocked by the prices here.

“I just sold one for $380,000 that would have gone for three-quarters of a million in the Muskokas. They just can’t believe the prices.”

© Copyright (c) The Windsor Star

If you’re thinking of selling your home yourself as an “FSBO” (For Sale By Owner), think again, from a buyer’s perspective. Buyers may be more hesitant to deal with sellers representing themselves than with those working with a professional real estate sales representative.Owners selling their own homes probably don’t have access to the information needed (e.g., comparables) in order to assess their home’s true market value. As a result, they’re more likely to overprice their homes and less likely to recognize a fair offer when they see one. For buyers, this can make for a more frustrating and time consuming negotiation process, which is always a turn-off. And so when the market’s moving fast, buyers will be especially motivated to avoid such sellers. Also, real estate transactions can be incredibly complex, requiring detailed financial and legal knowledge in order to see a sale through. For example, do the sellers know how to properly fill out paperwork? Are they familiar with local disclosure laws? Buyers may be wary of dealing with homeowners selling their properties themselves, fearing the sellers lack the breadth and depth of knowledge needed in order to successfully complete the transaction. Lastly, some buyers may be reluctant to deal with do-it-yourself sellers because they’re of the opinion that sellers who won’t hire a professional to handle the sale are frugal and like to cut corners. They may even wonder if the sellers will try to nickel and dime them (e.g., with chattels and fixtures) and where else the sellers will try to cut corners.
For a transaction as significant as buying and selling a home, it’s important to involve real estate professionals, starting with a qualified Windsor real estate sales representative.

Canadians continue to be optimistic about the benefits of home ownership, including its advantage to consumers as a safe investment. Low mortgage rates have resulted in a seller’s market in many cities, although the Canadian Real Estate Association (CREA) recently noticed a slowing of that trend, with a rising number of new listings resulting in a more balanced national resale housing market. Demand remains very strong, but as CREA President Georges Pahud points out, “The rise in new listings means that buyers may shop around more before making an offer.” In this ever-changing market, you’ll want the services of a professional real estate sales representative on your side, to ensure the smoothest, most successful transactions possible. And you’ll certainly want to be aware of the many things that could adversely affect the ultimate success of any real estate deal. First of all, if the sale is contingent upon you doing something —a home repair, for example — make sure you do it, and do it well. The buyer will notice if you do a cheap patch job instead of a thorough repair. Equally important, be sure to keep up with your regular home maintenance. You don’t want to give the buyer any cause to consider backing out of the sale. Aside from the physical condition of the home, make sure your fi nancial footing is steady. For example, a title search will turn up if there’s a tax lien on your home. Be aware that any liens need to be paid off before the sale can go through. For more tips on how to navigate the smoothest real estate transactions, please visit windsor real estate.

This summer will see a variety of events in Windsor, including the Red Bull Air Race World Series. This will be Windsor’s third year hosting the Red Bull Air Race, and each year the city sees a significant spike in Windsor tourism and Windsor travel, especially in downtown Windsor.

Windsor’s economy experienced a tremendous economic boost to the tune of approximately $100 million from last year’s Red Bull Air Races. The international exposure put the spotlight on Windsor, drawing in more than 290,000 people to watch the races in downtown Windsor last year while millions watched on television in 183 countries worldwide.

Minister of Finance Dwight Duncan estimates that the investment in the 2009 Red Bull Air Races yielded $7 to $8 in return per each dollar invested. The City of Windsor is preparing for even larger crowds this year and will definitely benefit from the spin-off jobs and opportunities the Red Bull Air Races 2010 presents.

While you’re here enjoying the Red Bull Air Races 2010, why not check out other Windsor attractions in the area like Windsor casino hotel, Caesars Windsor. There are other great hotels in Windsor close to Windsor bars and Windsor restaurants downtown as well.

The Red Bull Air Races 2009 proved highly successful, with the casino in Windsor and hotels in Windsor both packed. Visitors to the city for the Red Bull Air Race 2009 were able to relax and enjoy the show along the beautiful riverfront.

Be a part of the action on scene at the Air Race in Windsor instead of one of the millions just tuning in on television. The Red Bull Air Race Windsor occurs June 5 to June 6. Make your reservations at the Windsor casino or a hotel in Windsor today to ensure you’re able to enjoy Windsor events this summer such as the Red Bull Air Race 2010.

The average resale price of a home in Canada was $337,410 in December, according to data from the Canadian Real Estate Association. That was 19 per cent higher than in December, 2008, and sales activity has also increased sharply. The Windsor Ontario real estate market in January 2010 showed an average selling price of $155,819 for real estate in Windsor. This is down 1.7 per cent from January 2009 but total sales of Windsor and Essex County homes were up 54 per cent from January 2009 and 7 per cent above real estate in Windsor sales from January 2008. New Windsor real estate listings were flat in January compared to Windsor real estate MLS listings for January 2009 and 2008.
January was yet another reminder that the Canadian resale housing market is driving the economic recovery in Canada. Unfortunately Windsor and Essex County real estate has not seen the price prosperity in homes for sale in Windsor that is being experienced in other parts of Canada. Another area of economic growth is residential investment which has been one above average growth. The strength in residential construction has been supported by renovation activity – as homebuyers renovate their new purchases, and sellers attempt to add value to their homes before putting them on the market. This activity is evident in both Windsor homes for sale and Windsor condos for sale that have been fully updated or extensively renovated to either recapture lost value or to return a profit on undervalued real estate in Windsor.

Homebuilders have begun to responded favourably to strong housing demand, and in December housing starts rose for a third consecutive month – rising 5.9 per cent from month ago levels. At 174,000 units, housing starts are now up 47 per cent from the trough in April 2009. The strength in starts suggests new homebuilding likely grew in the range of 15-20 per cent in the last quarter of 2009 alone. Again in the local Windsor real estate market housing starts for January were up marginally from the same period in 2009 suggesting that the demand for Windsor and Essex county homes is mostly satisfied by Windsor MLS resale listings.

While the impact of housing demand on economic growth has been favourable, the strength in home prices has gained the attention of policy markers for a different reason. Canadian existing home prices have been heated, growing close to 20% Y/Y in Q4 2009. Not only have home prices retraced the losses that occurred over the very short-lived correction early last year, but they are now well above pre-recession (and historical) peaks. Again this is not the story of homes for sale in Windsor and MLS listing for Windsor and Essex County where average prices are flat to down for the same period.

Policy makers have noted that they are not currently worried about the level of home prices, and this is just one mechanism through which monetary policy is working to help support the economic recovery. But if this momentum continues, it may signal that a bubble is indeed forming and changes in lending policies may be necessary to avoid an overheated housing market. This would have a significant negative impact on the Windsor and Essex county real estate market and signal further declines in prices of homes for sale in Windsor.

Opportunity is knocking for those considering homeownership for the first time. Historically low interest rates, lower home prices in most markets and the Canadian first-time homebuyer tax credits – have brought first-timers to the market in droves throughout the year.

On top of the programs which allow first time homebuyers to withdrawl up to $25,000 from their RRSP and non-payment of the firsat $2000.00 in Land Transfer Tax we are also experiencing historically low interest rates which make now the perfrct time to buy a home in Windsor Ontario Canada. Visit your #1 source for Windsor Real Estate. We are here to help.

Today’s opportunities aside, here are eight time-honored reasons why those considering homeownership for the first time should make their move.
1. Pride of Ownership
Owning your own home adds to your own sense of self-esteem and personal pride. The satisfaction that comes from feeling connected to the land you occupy and the home in which you live is ages-old.

2. Security of Tenancy
With homeownership comes stability. When renting, you never know when you may have to move because of new ownership, rent increases or other changes. As a homeowner, you decide when and if you want to move.

3. Privacy
While there are usually some limits on the access landlords have to property, almost all landlords can access your property for necessary inspections and maintenance. For many renters, this lack of privacy is a significant discomfort. Homeowners on the other hand generally have much stronger property rights and experience an increase in perceived and actual privacy.

4. Decorating
Homeowners are free to decorate, remodel and accessorize a home any way they want. Not only do you have the right to make improvements, but the value of those improvements becomes yours as well. Having your living space and exteriors just the way you want them can significantly increase your satisfaction with your living environment.

5. Financial Predictability
When you buy a home with a fixed-rate mortgage, you have more predictability over future housing costs. Because your interest rate never changes, the amount of your payment never changes. Financial planning and credit are more easily managed with a fixed-rate mortgage compared to renting.

6. Building Equity
When you own your own home, you pay rent to yourself instead of a landlord. Most homeowners pay for their purchase by obtaining a mortgage. As you pay off that mortgage, your equity builds and you gain an increasingly larger share in a valuable asset. Over time, that asset can work for you in many ways, such as home equity lines of credit. And of course, a home is a wonderful asset to pass along in an estate.

7. Investment Appreciation
There are certainly no guarantees of property value appreciation. In the long-term, however, real estate valuations almost always increase. This means that when you decide to sell your home, its value may be significantly higher than when you purchased it. The difference in value is called appreciation. You can reinvest that appreciation in other real estate or you may wish to downsize and keep the value of that appreciation for retirement or other purposes. Windsor Ontario is the most affordable place to live in all of Canada and we can help you find your dream home at historically low prices. Visit Windsor Real Estate for more information

8. Tax Benefits
In Canada, the cost of home mortgage interest and property taxes can be tax-deductible. Depending on your circumstances, thousands of dollars in taxes can be saved each year. Some additional benefits are designed specifically for first-time homebuyers which include using your RRSP and associated deductions to contribute to your first home purchase and provide you with a sizable tax deduction. Call me anytime at (519) 817-5588 or visit windsor real estate and I can help you to get the most out of your first home purchase.

If you have any doubts, contact the #1 source for Windsor real estate. I can answer any questions you may have about homeownership and explain the buying process to you. I am here to help.

Planning in advance can make the move to your new home stress free, efficient and cost effective. A good plan will make all the difference as many steps need to be taken long before the day that the first box is loaded onto the moving van a good plan will make all the difference. Taking the time early in the process to write down and organize these activities will pay dividends closer to your actual moving day.
To avoid moving stress for you, your family and friends, try to break up these tasks over an eight week period. Pre-planning also gives you the opportunity to shop around and save money on your move. Here is a basic framework to get you started thinking about your next big move!

8 weeks Before
• Get estimates from at least three professional movers. If you’re planning to do it yourself, get estimates on rental trucks and maybe talk to a few friends.
• Decide what you’ll be taking, tossing, and replacing. This is a great opportunity to clean house or have a yard sale.
• If you’re moving to another city, contact the Chamber of Commerce for a New Resident packet, and ask your agent for information. We specialize in relocation assistance. For more information visit Windsor Ontario Real Estate. We are here to help.

6 Weeks Before
• Inventory your non-furniture possessions – kitchenware, decorative items, electronics, apparel and so on.
• Complete a change of address form with the post office. For a fee they will forward mail to your new location.
• Notify organizations, credit card companies, and publications of your new address.
• Obtain copies of all your medical, dental, legal, accounting and veterinary records.
• If your children are changing schools, arrange to transfer their educational records.
• Itemize moving-related costs with your mover, including packing, loading, special charges and insurance.

4 Weeks Before
• Make arrangements for packing your belongings. If you’ll be using professionals, schedule a day or two before the move. If you’re doing the packing, be sure you have enough boxes, packing materials and tape.
• Arrange for short- or long-term storage if needed.
• Make travel arrangements for pets, including medical records, immunizations and medications.

3 Weeks Before
• Begin packing items you won’t need right away or plan to put in storage.
• Contact utilities on both ends of the move to end/turn on services on specific dates.
• Confirm travel arrangements for your family and pets.

2 Weeks Before
• Cancel newspaper and other delivery services.
• If necessary, arrange and confirm bank accounts and local services in your new neighbourhood.

1 Week Before
• Gather important papers, records, and valuables for protected shipment to your new home or a safe deposit box.
• Purchase any prescription medications you’ll need for the next few weeks.

Day Before/Day of Move
• Defrost refrigerator/freezer and give away all perishable food.
• Keep a box marked “Last Box Packed/First Box Unpacked” for tools, flashlights, first aid kit and other essentials. This should be the last box loaded on the truck.
• Pack items you’ll carry with you: valuables, financial records, personal papers and other important items.
• Give the movers a telephone number and address where they can reach you.
Moving is a big production – but with a detailed action plan, you’ll be well down the road before you ever leave for your new destination.

For more helpful tips and ideas on Buying, Selling, Financing, First Time Homebuying and all your Real Estate needs visit the #1 source on the web for Windsor Ontario Real Estate. We are here to help!

Turn on any financial news program and at some point you’ll hear the experts extolling the virtues of diversification. Real estate, even through the market downturn, has long been considered a conservative, long-term strategy to growing wealth.
In fact, that very downturn has created a historic buying opportunity for potential homebuyers and investors alike. The combination of lower home prices across Canada and historically low mortgage rates, two essential factors that usually don’t trend in the same direction, have triggered a buyer’s market in many areas of the country. For real estate investors who want to rent their properties, this can make the difference in achieving positive cash flow sooner or right off the bat. Windsor Ontario Canada is a hot spot for cheap real estate which might be just the kick your investment portfolio needs!
While some seasoned real estate investors make it look easy, to be successful, beginners should follow some basic principles.
• Learn all you can. Before committing your cash, you should have a fundamental understanding of real estate. For example, be aware that, in general, investment properties are not liquid investments. Barring exceptional circumstances, real estate does not sell at a moment’s notice. It could take days or months to sell a property, depending on the strength of the market in a particular region.
• Consider cash flow. You’ll need to have enough capital on hand to cover any short-term losses due to vacancies between tenants.
• Start small. Look into buying a condominium, single-family home or a duplex. Leave large apartment buildings and commercial properties to the pros.
• Inquire at the local Chamber of Commerce about companies relocating into or out of the area. Company movement is one indicator of demand for rental and/or office space.
• Find a property that will be in demand. Look for a moderately priced home with three or four bedrooms, two bathrooms, and a garage that sits on a quiet street.
• Research the property. The most common way first-time investors lose is by failing to investigate a property thoroughly. Look beyond the front door. Investigate the reputation of the school district, the crime rate, and plans for expanding a nearby highway or developing vacant land. Ask a local real estate professional about the area, its history, and how fast (or slow) properties are moving. Contact your #1 source for Windsor Real Estate. We are here to help!
• Inspect the home you’re considering for signs of water damage, such as stains on the ceiling and crinkling or gathering wallpaper; open and close every door and window; and check all electrical sockets by plugging in an appliance. Get an independent home inspection, roof inspection and termite inspection. Unexpected repair costs can eat away your cash flow. Because even the best inspection can’t always predict problems, try to set aside some of the rental income for unexpected repairs.
• Spend time driving the streets of the neighborhood noting the condition of other properties. Are lawns maintained? Are roofs in good shape? Are homes kept up?
• Be ready to make fixes quickly and respond to the renter’s needs. If you’re not prepared to be a hands-on landlord, consider hiring a property management firm.
• See your tax advisor for related planning and laws that can affect your investment decisions.
Remember, investing in a property is much different than living in one, and while emotion and attachment can be prime motivators when it comes to homes, it is return on investment that counts when investing in real estate.
We are experts in Investment Real Estate in Windsor Ontario Canada. Contact me directly at (519) 817-5588. We are here to help.

This week was yet another reminder that the Canadian resale housing market is driving the economic recovery in Canada. In particular, residential investment has been one above average growth to boot. The strength in residential construction has been supported by renovation activity – as homebuyers renovate their new purchases, and sellers attempt to add value to their homes before putting them on the
market. Homebuilders have begun to responded favourablyto strong housing demand, and in December housing starts rose for a third consecutive month – rising 5.9% from month ago levels. At 174,000 units, housing starts are now up 47% from the trough in April 2009. The strength in starts suggests new homebuilding likely grew in the range of 15-20% in the last quarter of 2009 alone.
While the impact of housing demand on economic growth has been favourable, the strength in home prices has gained the attention of policy markers for a different reason. Canadian existing home prices have been heated, growing close to 20% Y/Y in Q4 2009. Not only have home prices retraced the losses that occurred over the very short-lived correction early last year, but they are now well above pre-recession (and historical) peaks. Policy markers have noted that they are not currently worried about the level of
home prices, and this is just one mechanism through which monetary policy is working to help support the economic recovery. But if this momentum continues, it may signal that a bubble is indeed forming.
What would the Bank of Canada do in the event that a “housing bubble” does develop? Probably nothing. This
week, we heard a speech prepared by Timothy Lane, Deputy Governor of the Bank of Canada in which he reinforced the belief that central banks remain weary of using monetary policy to curb a bubble in the housing market, because it could curtail economic growth in the process. This is because
excluding housing related goods and services, other areas of the economy remain weak and require support from monetary stimulus. For instance, non-residential building permits were down 22% in November, indicating
yet another contraction in non-residential investment in the fourth quarter of 2009. Furthermore, import data suggest that following a strong positive third quarter, investment in quarter of the year.
Meanwhile, international trade data out this week underscore the belief that the export sector will continue to face drop in real terms in November, exports are currently on track for a second consecutive double digit quarterly gain in Q4 2009. But over much of the second half of 2009, restocking, and increased demand for autos from the American Cash for Clunkers program – both effects which are expected to be temporary. Indeed, sharp declines in foreign demand for industrial goods and materials, machinery and equipment, and automotive products in November suggest that the inventory restocking process is already slowinig.
Moving into 2010, the export sector still has to contend with a strong Canadian currency.
The loonie is slowly creeping towards parity – and this week breeched the 97 U.S. cent level. If the Bank of Canada were to react to the housing market, and move earlier and more aggressively with interest rate hikes, it would risk pushing the loonie up sharply, putting more pressure on the
already struggling export sector. Instead, if a housing bubble does form, there are other tools at hand. For instance, federal government authorities would introduce regulation, such as
controls on leverage ratios, higher minimum down payment requirements, shorter maximum mortgage amortization periods, or other tighter terms and conditions for mortgage
insurance, to help temper demand for housing. And the federal government has hinted that it would be willing to introduce these regulations, if need be.

So what does all this mean to the home buyer standing on the sidelines. Mortgage rates are at historic lows with 5 year fixed rate mortgages available at 3.75% and variable rate mortgages as low as 2.25%. With the Canadain Government likely to use regulatory measures to cool down the housing market it could cost you more money to purchase a home in the form of larger downpayment requirements. It could also push those with less than perfect credit and slighltly higher debt loads out of the market. I can help you find the perfect home in Windsor Ontario before it’s too late. Visit the #1 source for Windsor real estate. We are here to help!