Real Estate Insider: August 2018 News Report

Readers, can you believe it's the end of August already? And that means that Fall is just around the corner along with big changes in store! This month we've found some valuable reads, including 7 home projects to do before Winter, buying at a discount in a seller's market, the advantages of living in Windsor-Essex, and 5 important things to know about the new Cannabis Act!

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With the rapid increase in automation in today’s society, some people think Realtors will be obsolete in the next few years, but we disagree! Read why a computer cannot replace the value that a Realtor provides! >>

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Capital Gains Tax is something everyone dreads. A lot of people are aware that their principal residence is exempt, but if you have multiple properties you should read this article to make sure you are getting the most money out of your properties when it comes time to sell! >>

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There are many advantages of living in Windsor-Essex, perhaps one of the most significant is NO LAND TRANSFER TAX! Read here how much you would have to pay living in other places in Canada (sorry Vancouver). >>

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Having a hard time deciding whether to buy a property for yourself or invest in a rental income? Why not do both! A duplex might be the perfect way to get your foot in the door. Read the pros and cons of buying a duplex you plan to live in. >>

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While some chores seem to be manly for aesthetic purposes, many can save you thousands in the long run. Learn about the 7 home improvement projects to put on your list before winter! >>

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Discover the “5 C’s of credit in action” and see where you might fall. >>

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For the fourth time this year the Bank of Canada has raised its interest rates due to strong economic growth, but with concerns over Trump and NAFTA negotiations, some people aren’t so sure it’s a good idea. Read here about some of the implications of the recent spike. >>

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Real Estate Lawyers.ca is back at it with 5 things to know about the new Cannabis act! Watch this video to be more prepared for October. >>

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We are no doubt in a seller’s market right now, but that doesn’t mean you always have to pay top dollar for a property! This article gives a few tips and tricks to increase your odds of buying at a discount. >>

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“A rising rate guide to mortgages, HELOCs, GICs, savings and more”. >>

Development Across Windsor-Essex - Summarizing The Projects in the Works

Hope you are all enjoying your summer! It has been flying by way too fast. As we look forward to September when everyone gets back from vacation, its time to get back to business! You may have noticed that quite a few new developments have been announced in the Windsor area during the last few months. Today, we are going to summarize them in one place for your easy reading!

The Hive on Pelissier - 531 Pelissier

An exciting downtown project from a prominent investor group that includes a local home builder, an architect and realtors. The project is located downtown on Pelissier, just north of Wyandotte. The existing building, known to most people as the former Don Cherry’s, has three storeys being added to create 24 residential loft units. The main floor will feature three commercial units and the Lalovich Real Estate Team will be taking on the marketing! Look for this one in 2020. To see more on this exciting development, check out their website.

120 Unit Residential Development Downtown - Victoria and Park Street

There are plans for a 120 unit residential development at the northwest corner of Victoria and Park Street. At 16 storeys high, this building will have underground parking and ground floor commercial. The developer is SIND Investments and is slated to be the largest residential development in the core in decades. The name of the project is Glenkash Luxury Suites. There isn’t a great amount of detail out on this project as of yet, so stayed tuned!

24 Unit Residential Building - Ouellette and Erie Street

Just north of Ouellette and Erie Street, keep an eye out for a new 24 unit building. There will be a mix of one bedroom (800’) and two bedroom (1200’) units. The builder, Valente Development Corporation, had really applauded the city for their CIP incentives, which offers tax incentives for development in the core. Unfortunately, relations have soured after the decision to sell the former library on Ouellette to the Downtown Mission. It should be interesting to see how things play out.

150 Unit Seniors Apartment Project - Wyandotte and Crawford

The plans for the northeast corner of Wyandotte and Crawford include a 150 unit apartment building aimed at seniors. There will be one bed, one bed plus den and two bed units, ranging between $1,100-$1,600 per month. The units will be similar to condos with their own furnace/ac, washer/dryer and balcony. Developer Piroli Group Developments aims to do something to the project they did in Leamington a few years back. Construction is slated to begin in 2019.

Six Storey Condo Building - Walker and Ducharme

At the southwest corner of Walker and Ducharme, on the very outskirts of South Windsor, there is a proposed six storey condo project in the works. The developer is Royalty Homes, who built many of the homes in the nearby Walkergate subdivision. The project will include both surface and underground parking, and the building is supposed to be situated close to Walker Road in a horseshoe shape surrounding the 6 acre site. More details to come. There aren’t many condos in South Windsor so this idea is interesting.

It's definitely an exciting time to see lots of projects in the works. In fact, there are quite a few more, so it looks like I’ll need to put together a part two to this post! Readers, how do you feel about these new developments?