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Breaking into Windsor-Essex housing market means paying $100K+ over asking amid industry boom Breaking into Windsor-Essex housing market means paying $100K+ over asking amid industry boom Homes selling way above asking are making it hard for buyers, but easy for sellers Source: https://www.cbc.ca/news/canada/windsor/windsor-essex-housing-market-buyers-sellers-1.5987417 The housing market in Windsor-Essex hasn't cooled down and marketing tactics are making things even hotter. (Katerina Georgieva/CBC) Christiano Fontana paid more than $120,000 over the asking price for a home in Windsor, yet he considers himself one of the fortunate. "I got lucky," he told CBC News Wednesday.   But he later followed that up with a laugh and said, "I don't know if you'd call me lucky or not, but I got one you know?"  "Lucky" in this market typically means paying tens of thousands over asking price, as Fontana had to. It's a sign of this hot market, realtors told CBC News, that homes are routinely being listed well below what they're expected…

After decades of stagnation, Windsor population on steady rise After decades of stagnation, Windsor population on steady rise Author of the article:Brian Cross . Publishing date: Apr 07, 2021  Source: https://windsorstar.com/news/local-news/after-decades-of-stagnation-windsor-population-on-steady-rise Construction workers are shown at the Rosewater Estates subdivision project in east Windsor on Tuesday, April 6, 2021. PHOTO BY DAN JANISSE /Windsor Star For a window into Windsor’s suddenly surging population, check out the yet-to-be-built Rosewater Estates subdivision off Lauzon Road. In matter of weeks, every one of the single family homes available — 101 building lots owned by three local homebuilders — were purchased in a remarkable flurry earlier this year. And the vast majority of buyers were from the Greater Toronto Area. “All three of us (builders) are sold out and the roads haven’t even been put in. The demand, we’ve just never seen this before,” Maple Leaf Homes owner Bruno Cacilhas said. He said he couldn’t keep up with…

Realtor warns Canadian home prices could fall 40 percent in major housing market correction Realtor warns Canadian home prices could fall 40 percent in major housing market correction Source: https://www.straight.com/news/realtor-warns-canadian-home-prices-could-fall-40-percent-in-major-housing-market-correction by Carlito Pablo on April 4th, 2021 at 10:55 AM Adam Major works as managing broker of Holywell Properties. A realtor fears that the Canadian housing market is so overheated that it could burn the whole thing down. Adam Major, managing broker with Holywell Properties, says that what led to the U.S. housing crash in 2008 might be happening now in the country. Major believes that the government “probably should have done something already”. “I do hope they can come up with a way to cool the market rather than letting it burn too hot for too long, because it could create more problems in the long run,” Major told the Straight in a phone interview. Major is also the CEO of Zealty.ca, a real-estate tracking site operated by Holywell Properties. The realtor…

Pattie Lovett-Reid: From first time buyers to luxury homes, Canada's real estate market is on fire Pattie Lovett-Reid: From first time buyers to luxury homes, Canada's real estate market is on fire Patricia Lovett-ReidChief Financial Commentator, CTV News  HUNTSVILLE, ONT. -- If you need evidence that the rich are getting richer, look no further than Sotheby's luxury real estate report highlights for 2021 so far. By way of reference, luxury real estate is typically a home that is valued within the top 10 ​per cent of a given market, which varies across the country. They range from detached homes to condos, located in key markets, finished with top of the line materials, and are often in close proximity to high-end amenities. Real estate in general has been on fire so far this year, and luxury real estate is no exception. To illustrate how hot the high-end market is, take the Greater Toronto Area (GTA) for example. Over the first two months of 2021, the GTA witnessed residential real estate sales spiking 157 per cent year over year, and of those, five ultra-luxury properties…

Why Windsor-Essex Real Estate Is Still Dominating Headlines Why Windsor-Essex Real Estate Is Still Dominating Headlines March 1st, 2021 - Source:https://blog.remax.ca/why-windsor-essex-real-estate-is-still-dominating-headlines/ The Canadian real estate market has been a persisting headline over the last year thanks to record-setting growth in many housing markets, the migration from major urban centres to rural communities, as well as the industry successfully adapting to the pandemic utilising digital tools. It is hard to pick just one story that has encapsulated the real estate industry in 2020 – and in the early start to 2021. One southern Ontario city is a great example of how fortunes can turn around in an instant. Prior to the pandemic, the Windsor-Essex real estate market was not quite as red-hot as that of Toronto, Mississauga or Ottawa. However, all that changed over 2020 as Windsor transformed into one of the hottest markets in the province, and in the broader Canadian real estate sector. Windsor’s growth has been jaw-dropping…

Windsor to pilot residential rental licensing in student-populated areas Windsor to pilot residential rental licensing in student-populated areas Supporters say licensing would hold landlords more accountable to keep renters safe Sanjay Maru - CBC News Posted: March 08, 2021 The city will draft a bylaw for a residential rental license pilot program in Windsor's Wards 1 and 2, following a motion from Coun. Fabio Costante. (Sanjay Maru/CBC) Concerns over "utterly deplorable conditions" and keeping landlords accountable to maintain proper living standards have led Windsor city council to approve a residential rental housing licensing pilot project in two wards. Windsor's Ward 1 and 2, which contain the main campuses of the University of Windsor and St. Clair College, will take part in the pilot. The program will allow for city inspections of residential rental housing units on a regular basis, with a proposed annual licensing fee of $616. At this time, it's unknown when the pilot will begin.  During a six-hour debate Monday, councillors…

Windsor's real estate market is 'affordable' — but how affordable is it for Windsorites? Windsor Windsor's real estate market is 'affordable' — but how affordable is it for Windsorites? As prices keep going up, some Windsorites are feeling shut out of the market Katerina Georgieva · CBC News · Posted: Mar 05, 2021 5:00 AM ET | Last Updated: March 5 Elizabeth Ward, 28, wants to buy a house in Windsor, but feels like she won't be able to afford one unless the market crashes. (Katerina Georgieva/CBC)   Windsor's real estate market is booming — but it has some Windsorites feeling left out, unable to seal the deal on finally owning their very own home. "I'm probably never going to own a home unless the market crashes," said 28-year-old Elizabeth Ward.    Ward and her partner first started looking to purchase a home a couple of years ago, hoping for one within their $200,000 budget, but they quickly gave up, knowing they couldn't compete with the bidding wars.  "We kept looking and kept trying but had to give up because…

Working with a Buyer’s Agent Working with a Buyer’s Agent   All of the reasons you should be using a Platinum Partner to represent you while purchasing in the #YQGMarket! Amanda Slatford, LC Platinum Realty Inc. If you have been paying attention to real estate in Windsor-Essex, you know #YQGMarket has been on fire. If you’re a first time home buyer, an investor, or even searching for a rental, here are the top reasons you should be working with a Buyers Agent! What is a Buyer’s Agent? A buyers agent is a real estate professional who represents buyers during their real estate transactions. Purchasing a home can be a daunting task, from viewing properties and negotiating offers to lawyers and closing dates, there are a million things that could go wrong.   First Time Home Buyer If you have NEVER purchased a home before, let alone in anything like our current market, it is most definitely a learning curve. To do it alone, means learning everything on your own.   A Buyer’s Agent has  been through this many…

Canadian home prices soared 9.6% in January, highest increase since 2017: Teranet Canadian home prices soared 9.6% in January, highest increase since 2017: Teranet Sean MacKay Feb 18, 2021 Source: www.livabl.com Photo: James Bombales A Canadian home price tracker known to be one of the most reliable measures of appreciation just recorded its highest annual increase since October 2017. The Teranet-National Bank Home Price Index rose 9.6 percent over the previous year in January, led by double-digit price increases in local markets including Ottawa-Gatineau, Halifax and Hamilton. Montreal and Toronto also posted 12-month price gains above the national average, while five other major markets experienced increases between 0.8 percent and 9.1 percent. Of the 11 markets included in the index, only Calgary recorded an annual decline in its home price reading. While the annual gains were robust, the January data, published today, pointed to an overall slowdown in Canadian home price appreciation. January marked the third straight month that the index recorded a lower price…

Canada's Home-Sales Boom Doesn't Even Notice COVID-19's Second Wave Canada's Home-Sales Boom Doesn't Even Notice COVID-19's Second Wave The average house price in Ottawa has jumped 12% in a single month. By Daniel Tencer JOAOBARCELOS VIA GETTY IMAGES An aerial view of houses in Kanata, a suburb of Ottawa. The region has seen a 12-per-cent jump in the average house price in one month. The unstoppable juggernaut that is Canada’s residential real estate market showed no signs of letting up in January, even as renewed pandemic lockdowns kept buyers searching from home and many sellers on the sidelines. Numbers for Greater Toronto aren’t in yet, but most other major metro areas in Canada reported a record-breaking month, with Greater Vancouver clocking a 52.1-per-cent spike in the number of home sales, compared to last January. The benchmark price for all property types, $1.057 million, is up 5.5 per cent in a year. Even Calgary ― whose economy has been hit by the oil slump ― is now a seller’s market, National Bank of Canada declared…

The Current Condo Dilemma: Why Owners Are Struggling To Move Up the Property Ladder The Current Condo Dilemma: Why Owners Are Struggling To Move Up the Property Ladder by Michelle McNally  Rising inventory, the absence of student renters, and would-be condo buyers looking to the suburbs have had a major impact on urban condo markets’ performance over the last 12 months.  Condo sales in two of Canada’s largest cities Vancouver and Toronto have consistently seen slower rates of sales activity compared to detached and townhome properties since the spring lockdown. Coupled with closed buildings amenities and quieter urban communities, these market hurdles don’t make for ideal condo selling conditions.  Image via James Bomables Despite these challenges, REALTORS® are learning to adapt in these uncertain times, and there’s a sense of optimism growing within the condo market as a COVID-19 vaccine is now being distributed across the country.  Christopher Bibby, salesperson and REALTOR® from Re/Max Hallmark Bibby Group Realty, and Matt Smith, a broker…

You can use Instagram to attract real estate leads. You can use Instagram to attract real estate leads. Pretty much every aspect of Instagram is well suited for real estate marketing: from photo to video-based elements that make it fun to showcase properties, coupled with the mobile-first approach, location data, and geo-targeting, investing in Instagram ads for real estate is money well spent.  Instagram is huge. It’s maintained the growth of its user base in recent years.  According to Statista, “the percentage of US adults who use Instagram grew from 35% to 37% — reaching 1 billion people — making it one f the fastest growing social media networks in 2021.   The truth be told, you don’t have to rely on Facebook to send qualified clicks and leads to your listings, Instagram is a huge goldmine for advertisers.  When you advertise on Instagram, you can reach hundreds of thousands of potential leaders in and outside of your geographic location. This social network also has one of the best campaign targeting options.   Here…