With Prices Like These, Who Needs PR Campaigns To Promote Windsor
It is so unfortunate that the Mayor revealed at Council on Monday that our Canal Vision will be at least 2 months late coming out---some problems I heard. It will not be here until some time in April now or maybe even later, who knows. Quite a setback for us.
While that could have been a huge inducement to encourage people to move here, this story that I saw on the Sympatico website will draw people here like flies! This kind of publicity is fabulous for us and cost taxpayers nothing. We no longer need to give out taxpayer money to the Star to print and distribute glossy magazines for us when this type of publicity is invaluable for us.
I wanted to BLOG it for you and also show you the kind of homes available at the price mentioned from the Real Estate website that I am certain will draw rich Toronto seniors here and those entrepreneurs in the knowldege industry.
Heck, I may go out and buy a bunch of these homes myself now while the prices are so low so that I can make a bundle when the good times roll. And I promise, I will NOT rent them out to students in the meantime. I do not want to bring down the value of other homes in the area or destroy the Community.
For those of you from out of town who are reading this BLOG and want to snap up a bargain now either to live here or to invest in until you are ready to retire and move here, you should contact a Windsor Realtor right away. These bargains are going fast and will not last forever!
Where $35,000 can buy you a house
Most Canadians never thought they'd see the day when $35,000 could buy them a house, but the seemingly impossible has happened in Windsor, Ont.
By Kerry Gold
March 24, 2009
For what it costs to purchase the average car, you can now purchase a home in this Southern Ontario border town -- and yes, that includes the 30 x 90 foot lot.
"It's just amazing," says Mark Imeson, president of the Windsor Essex County Real Estate Board. "For a lot I used to say you're starting at $35,000, and now you can get a house and a lot for $35,000."
Imeson believes his market offers the cheapest residential real estate deals in Canada.
In his 23 years selling real estate, Windsor born-and-raised Imeson says he's never seen the market bottom out this low. And with its auto industry still in upheaval and the world economy still unstable, there's no telling how far prices could fall in Windsor, which is a four-hour drive from Toronto.
"I would like to be optimistic and say we have hit bottom but I don't know if we have," says Imeson. "I don't know how much lower it can go.
"The thing is, we realize that we have to work together to get out of this, and every aspect of the community is working together to do that."
That $35,000 home is the bottom line for the Windsor house market right now, according to Imeson. Houses are more often priced around the $60,000 mark, and up, which is still a fantastic bargain for the rest of the country. For people in an expensive real estate city like Vancouver, it's still virtually unheard of to find a house for less than $400,000.
"Interest rates are really favourable. You can get a 4.1 per cent rate for a five-year fixed term mortgage," says Imeson. "If you bought that $60,000 house it would cost $250 a month for the mortgage, plus taxes. Where can you live for that? In Toronto they are renting places for $1,500 a month. Why do that? Here in Windsor, why rent you can own for same price?"
Windsor, says Imeson, is the hardest hit market in the country. On the bright side, he hopes that anyone looking for a deal will look to his city.
In an effort to make lemonade out of a lemon, Imeson is trying to position Windsor as a retirement community because of its river waterfront. He is working with business people and others in the community to push for better bridge access to nearby Detroit, hospital upgrades, and the development of other industries in order to attract newcomers.
"I think the people of Windsor have to give themselves a shake. I was born and raised here and you see what's here and you take it for granted. You don't appreciate the waterfront. As a retirement centre, that would be great."
Imeson points to retirees from other cities that sold their homes and are looking to move somewhere quieter. They are people who might have lost as much as 40 to 50 per cent of their portfolio worth, and who can make up the difference by buying into cheap Windsor property. Through research he's discovered retirees want to live in an area that has good places to walk, which is why Windsor's waterfront could be an enticement.
"I'm thinking of the ones that have the big bucks properties, who can come down here and buy something, and still have a nest egg to go with it."
As well, says Imeson, it's time to think outside the box that has been the Windsor automotive industry for so long.
"We were heavily dependent on the automotive industry, and now we are trying to get computer based companies, other things of that nature," he says.
"We are five years behind in terms of diversifying, at looking at other prospects."