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491 Watson Ave. Windsor Home for Sale

491 Watson Ave. Windsor Home for Sale Type: House Address: 491 Watson Ave. City: Windsor, ON Bedrooms: 3 Baths: 2 List Price: $239,900.00 My latest listing is updated and ready to go in a prime Riverside location that’s close to everything. 491 Watson Ave. in Windsor includes 3 bedrooms and 2 baths, and lots of updates throughout including new windows (2018), furnace (2011), A/C (2012), roof (2009), tankless water heater (2008), sewer connection (2012), and more. This great Riverside area home also includes a finished basement, a beautiful sunroom, sprinkler system, 22x20 block garage, patio, and much more. 491 Watson Ave. is truly in move-in condition and is just waiting for a new family to start making memories there. To learn more about this great Windsor property or to arrange for your chance to see it in person for yourself, call me today at (519) 818-8989 or email me for more information.

276 St. Louis Windsor Home for Sale

276 St. Louis Windsor Home for Sale Type: Duplex Address: 276 St. Louis City: Windsor, ON Bedrooms: 4 Baths: 2 List Price: $299,900.00 My newest listing is a rare find in a prime Riverside location between Wyandotte and the Drive. Built in 1945, this attractive full brick duplex features sharp curb appeal, refinished hardwood floors, beautiful updated kitchens, breakfast bar, new roof, brand new EEF furnace, remodeled bath, replacement windows on the second floor and so much more. The upper unit is currently vacant, while the lower unit is leased until August 31st - please note that the buyer must assume the existing tenant. The second bedroom in the upper unit is easily converted back. This home is approximately 1587 square feet in size, and is truly a great find in Riverside. To get a great look at 276 St. Louis Ave. in Windsor, view my 3D tour below:   To learn more about 276 St. Louis or to arrange to view this tremendous Riverside duplex for yourself, contact me today at (519) 735-7222. I can help you discover all…

Bank of Canada's mortgage 'stress test' rate climbs higher

Bank of Canada's mortgage 'stress test' rate climbs higher As mortgages get more expensive with interest rates rising in Canada, the hurdle that some borrowers must pass is also getting higher. The interest rate used by the Bank of Canada for mortgage stress-testing went up by 20 basis points Wednesday to 5.34 per cent from 5.14 per cent, where it had been since mid-January of this year. The rate used has now gone up five times since last May, when it stood at 4.64 per cent. The central bank's rate is based on a survey of conventional five-year rates available at the big banks. "The change in the Bank of Canada five-year benchmark rate not only means Canadians will pay more per month for their mortgage, it also means the amount Canadians can qualify for has diminished," James Laird, co-founder of Ratehub Inc. and president of CanWise Financial, said in a release. "This increase will put pressure on first-time homebuyers, who are the most financially strained Canadians entering the housing market," he said. Under new…

A 23-year-old with an $80K job and no debt couldn’t get a mortgage – this is why

A 23-year-old with an $80K job and no debt couldn’t get a mortgage – this is why At 23, Robin Bourbeau had a $80,000-a-year job, no debts and enough money for a 20 per cent down payment on a $400,000 home. His mortgage broker, Phil Cragg, sent him house shopping with a blessing. But when Bourbeau, whose father is a Global News employee, put a conditional offer on a house, he was told he couldn’t get a mortgage – because he didn’t have a credit card. Bourbeau was what consumer credit rating company Equifax calls a “beacon reject,” someone with no credit history, said Cragg, director and mortgage agent at Mortgage Outlet in Ottawa. Bourbeau, a nuclear operator in training at Ontario Power Generation, hadn’t touched a credit card since he was 18, when he briefly owned a PC Mastercard, quickly ran up its $500 credit limit and forgot to pay his bill. As soon as he realized he had an outstanding charge, he paid off his debt and shut down his account, he said. And he never used credit again – until he tried to apply for a mortgage. Bourbeau was eventually…

Sold your home? CRA may penalize you if you fail to report it

Sold your home? CRA may penalize you if you fail to report it The Canada Revenue Agency is getting tough with people who fail to comply with new rules requiring the routine sale of a home to be reported, even when there’s zero tax owing. If you don’t report the sale of a principal residence on your income tax return, you could be subject to a fine of as much as $8,000. And something else to keep in mind: Normally, CRA may reassess your tax returns going back three years; with the reporting of a sale of a home, there’s no limit on how long CRA can wait to reassess you. It sounds like CRA may go easy on applying fines for now because more stringent requirements for reporting the sale of a home are still relatively recent. But the rules for reporting the sale of a house on a tax return have definitely changed. There’s now a potentially harsh cost for not complying. Canada’s religion of home ownership is built in large part on what tax experts call the personal residence exemption, or PRE. It means you don’t have to pay tax on capital gains…

12334 Charlene Ln. Tecumseh Home for Sale

12334 Charlene Ln. Tecumseh Home for Sale My latest property listing is this outstanding executive 2 storey home in one of the best locations in all of Essex County at 12334 Charlene in Tecumseh, ON.     Type: House Address: 12334 Charlene Ln. City: Tecumseh, ON Bedrooms: 4+2 Baths: 4 List Price: $568,900.00 This great home gives you room to roam and over 3,200 sq ft. of space, and this full brick gem offers 4 + 2 bedrooms, 4 baths, a spacious main floor in-law suite, oversized oak kitchen opening to a main floor family room, beautiful hardwood flooring, and spacious ensuite with whirlpool tub. This tremendous home gives you even more to enjoy with a gorgeous finished basement that’s built for entertaining, a 20x40 inground salt water sport pool with spa, concrete area used for a winter ice rink, and so much more. To get a better look at this Tecumseh 2 storey home for yourself and see more of what 12334 Charlene has to offer, look at my 3D tour below: To learn more about this great Tecumseh property for sale, call me today…

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