October 2016 Issue 122 by The Real Estate Market Watch

Your Home Sold

GUARANTEED Or I’ll Buy It! *

Rob Golfi

OCT 2016 - VOL 88

REAL ESTATE M A R K E T WA T C H Sales Representative

PRESENTED BY THE THE GOLFI TEAM

New Mortgage Rules will ‘reduce the risk’ a housing crash poses to Canada’s economy

anada’s finance minister believes the housing market remains hot, but healthy. It just needs a little more regulatory care to keep it that way and not harm the economy in the process.

For now, Bill Morneau’s prescription calls for some gentle adjusting of existing rules — like closing a tax loophole on nonresident real estate investors — along with new measures, such as a mortgage-rate “stress test” to ensure hopeful buyers can afford to get into the market in the first place and meet their payments when lending levels begin to rise. “Overall, these measures should reduce the risk of a knock-on to the Canadian economy from a possible correction in Vancouver and Toronto,” said Sal Guatieri, senior economist at BMO Capital Markets, following the minister’s announcement of the changes on Monday. “There’s enough here (in the new rules) to slow the markets — especially foreign demand in those markets,” Guatieri said. “But what these measures will also do is reduce the risk of a correction down the road should prices in those two cities continue to rise at double-digit rates.” Both the federal government and the Bank of Canada have been attempting to cool the housing market in the post-recession environment of low-for-longer interest rates. Ottawa has attempted to rein in the market through progressively tighter regulations on the length and levels of mortgages, particularly in Vancouver and Toronto where prices of homes have been on a steady upward trajectory — even as interest rates have remained at near-historic lows. (Continued on page 2) Stephen Poloz, the central bank governor, has been at pains to remind Canadians that rates will eventually begin to go

905-575-7700 905-945-0188 GolfiTeam.com

Sharon Stafford*

Wendy Murray-Nicholson*

Binda Traver*

Monique MacKay*

Mike McNeil*

Donatella Pepe*

Dan Golfi*

Rose Pimenta-Martinho*

Jeff Golfi*

Jennifer Draho*

Chris Sarievski*

Matthew Randazzo*

Hank Balfoort,

BROKER OF RECORD

Phil Golfi*

Ashley Sidler*

Peter Glenney *

*Seller & Rob must agree on price and terms.

Page 2

The GOLFI TEAM Real Estate Market Watch

Oct 2016

New mortgage rules will ‘reduce the risk’ a housing crash poses to Canada’s econom (Continued from front page)

up and borrowers need to stay within their ability to manage mortgages at higher rates. Changes announced Monday, which come into effect Oct. 17, will “certainly add some prudence” to the housing markets … by beefing up the so-called mortgage stress qualifications,” Guatieri said. “It clearly will price-out buyers in some high-priced regions in Canada — obviously Toronto and Vancouver. So, that will go some ways, I believe, to cooling the markets in those two regions.” Even before the measures were announced those two markets were showing signs of slowing down. Phil Soper, chief executive at Royal LePage, said “we are already starting to see the early stages of a cyclical slowing of the market in both cities — albeit more pronounced in Vancouver.” “For the rest of the country, I believe we’re actually in a natural expansionary phase and will probably see very little change or slowing … anywhere but in our two biggest cities,” he said. The government in Ottawa — and in British Columbia, which has also brought in tougher guidelines on the residential market — need to be “very, very careful when they implement new policy (as it) could damage what is now the economic driver of the Canadian economy.” “(But) I believe they have reached a balance,” Soper added. “They’re sending the right messages.” Meanwhile, the body representing the country’s financial sector said it agreed with Ottawa’s objective of “ensuring Canada’s housing markets remain strong, stable and resilient, and that there are no quick fixes.” “We are currently reviewing the changes to the mortgage and housing markets announced by the federal government … and discussing them with our members to determine the potential impact of these measures,” the Canadian Bankers Association said in an email to the Financial Post. “Banks in Canada are prudent lenders that manage risk carefully,” the CBA said, adding that financial institutions “already do extensive stress testing on their mortgage portfolios to ensure that their clients have the ability to repay their loans even if interest rates increase.” - Finacial Post | Gordon Isfeld | October 3, 2016

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Page 4

The GOLFI TEAM Real Estate Market Watch

Oct 2016

Hamilton, Stoney Creek, Ancaster, Dundas & Glanbrook

ROB GOLFI

Sales Representative

Perfect Family Setup!

3 Bedroom Two Storey Townhouse

Lots of Updates! Finished Top to Bottom!

Close to the lake in Stoney Creek with easy QEW access. Offers large eat-in kitchen, pantry, living/ dining combo, master with en-suite and walk-in. Backyard with large 16x10 ft deck, patio stone work and artificial turf. Large Driveway parking for 3 cars. 100 Whitefish Crescent, Stoney Creek | $406,900

2.5 storey with separate garage close to Gage Park! New windows, plumbing, electrical, eaves, soffits and fascia, kitchen with Quartz countertops and stainless steel appliances all in 2016. Original hardwood floors, new bath with heated floors and porcelain tiles. Main floor laundry and powder room. 1166 King Street East, Hamilton | $399,000

2+3 Bedroom Custom Executive Bungalow!

3 Bedroom Brick Bungalow!

Amazing 2.5 Storey Character Filled Home!

2 Bedroom Bungalow in East Hamilton!

Rare Find!

Outstanding Opportunity!

Opportunity Knocks!

Stunning 1324 Sqft 2 Bedroom Unit

Open Concept Ground Floor Unit!

3+1 Bedroom bungalow with 52x133 ft lot newly redone and loads of updates: new floors, interior doors, trim, baseboards, kitchens, baths, windows, exterior steel doors, carport and driveway. Finished 1 Bedroom in-law suite with separate private entrance. Common Laundry and lots of storage. 137 Manning Avenue, Hamilton | $2,000/mth

Located 2 min walk from Locke St., 3 gas fireplaces, hardwood, designer baths, kitchen with island and granite counters. Potential for large in-law/apartment. In-ground sprinkler system. Furnace, A/C and water heater 2014. Shows like a dream! 278 Aberdeen Avenue, Hamilton | $899,900

Ideal for seniors or first-time buyers. Features no carpeting, ceramics from foyer to kitchen and bath, laminate in living room and bedrooms. Most windows updated, vinyl with newer blinds. Spacious kitchen and main floor laundry. Good size yard with shed. 30 Hope Avenue, Hamilton | $175,000

Come and see this large 2.5 story home located in the desirable St. Clair/Blakeley neighbourhood steps to Gage Park. This home features 2 kitchens, hardwood floors, original trim and large rooms. Double car parking in rear. 117 Maplewood Avenue, Hamilton | $449,900

In desirable area, features a large master, spacious living/ dining, original trim and hardwood floors. Updated eatin kitchen, separate side entrance, unspoiled basement. Updates: new wiring, electrical panel and plumbing. Side drive and existing garage used for storage. 550 Roxborough Avenue, Hamilton | $249,000

This home offers everything including a fully finished basement with in-law suite equipped with kitchen full bathroom and separate entrance. Parking will never be an issue here when you have space for 4 cars including a detached garage and a private back yard. 44 Gage Avenue North, Hamilton | $299,900

2 bedroom condo apartment! Master with ensuite and walk-in closet. Hardwood floors, pot lights, granite counters in kitchen. 2 underground parking spaces, exercise and party room for amenities. Close to shops, restaurants, minutes to Ancaster Village and Highway. 109-125 Wilson Street West, Ancaster | $539,900

All brick 4+1 bedroom home, steps to Tim Hortons Field, schools and transportation, new shingles, laminate flooring in bedrooms, freshly painted in 2016, in-law setup with 2nd kitchen, 3pc bath, and 100 amp. Move in ready and priced to sell. 75 Barnesdale Avenue North, Hamilton | $289,900

Operate an Iconic business with potential gross sales exceeding $250k. Well Established in Hamilton East End for over 30 years. Excellent package deal with business and Real Estate for sale. Please do not go direct. Proof of financials with accepted offer. Priced to sell! 1374 Barton Street East, Hamilton | $379,900

Large eat-in kitchen with SS appliances, 4 pc bath, large bedroom with custom closet organizer, insuite laundry, laminate floors, walk-out to patio. Underground parking and storage, visitors parking. Close to parks, shopping, highways. 104-4003 Kilmer Drive, Burlington | $229,900

www.GolfiTeam .com

Oct 2016

The GOLFI TEAM Real Estate Market Watch

Hamilton, Stoney Creek, Ancaster, Dundas & Glanbrook

Page 5

ROB GOLFI

Sales Representative

Bright and Spacious 3 Bedroom Home

3+2 Bedroom Bungalow Approx. 4500 Sqft

HAMILTON STINSON NEIGHBOURHOOD!!

4 Bedroom Home with Huge Lot!!

Cute 3 Bedroom Home!

Immaculate 3 Bedroom Home!

Affordable 1 BR condo! Excellent location!

Family Home in Desirable East End!

3+1 Bedroom Home!!

Renovated 3 Bedroom, 1Â˝ storey home, upgraded kitchen, new roof. Large backyard with deck, Separate side entrance to full unfinished basement. 320 East 12th Street, Hamilton | $326,500

Beautiful 4 Bedroom, 4 bath home in a court with over 4000 sq.ft. of finished living space. In-law suite with separate walk-up entrance from the garage. In-ground pool, hot tub. Huge 34.78 x 205.18 lot. 2 bedrooms in basement, kitchen, games room and cedar sauna. 15 Aries Court, Hamilton | $714,900

Affordable 1 bedroom open concept 2nd floor condo next to a ravine and park. Excellent location close to Red Hill Expressway, QEW, shopping, schools and situated on a bus route. Must have a look inside to see how cozy and quiet it is. 2373 King Street East, U#21, Hamilton | $112,900

Bungalow with in-law setup and escarpment views. Ideal for larger family with 2 car garage, 4 car parking, clay roof tiles, hardwood and ceramic throughout, 3 full baths with steam shower, gas and wood fireplace, lower level 2280 sq.ft. with full kitchen, living room, 2 bedrooms, full bath and walk-out to backyard. 35 Oakridge Drive, Stoney Creek | $659,900

3 Bedroom home in Central Hamilton, separate dining room (currently being used as main floor bedroom), eat-in kitchen with walk-out to back deck, unspoiled basement, fully fenced yard, double rear drive. Close to amenities. Minutes to downtown and Go Station. 58 Aikman Avenue, Hamilton | $299,900

4 bedroom, 2.5 bath family home in the community of Marshall Estates. Open concept main floor, no carpet with lovely view of backyard and mature trees. Master with double doors, seating area, walk-in closet and ensuite. Spacious hallway and laundry room on 2nd floor. 248 Campbell Avenue, Hamilton | $279,900

Low priced condo, great for Mac student or investment. Small Park across the street. Hardwood floors, eat-in kitchen, large windows, heat included in condo fee, spacious living room, two generous bedrooms with closets. Shows well! Walk to go station! 9-356 Hunter Street East | $119,900

Immaculate 2 storey located in prime central Hamilton location, 3 beds, 2.5 baths, separate dining room, fully finished basement with bar and rec room, California shutters throughout, fenced yard with concrete patio, double garage, concrete drive. A must see! 393 Crerar Drive, Hamilton | $519,900

Solid brick home in prime location, 3+1 beds, large principle rooms, investment opportunity- could be set up as multi unit, walking distance to GO stations, First Ontario Center, farmer markets, and trendy shops. Minutes to the highway. 18 Florence Street, Hamilton | $399,900

EXCLUSIVE LISTING!

Beautiful Semi-Detached Bungalow!

Features 2+1 bedrooms, custom made kitchen and bathroom, new flooring, finished basement with pot lights, new bathroom, new laundry room, fridge and stove, updated plumbing and electrical. Wonâ&#x20AC;&#x2122;t last! 33 Douglas Avenue, Hamilton | $235,000

Commercial Property for Sale!

First year of 5 year lease, commercial tenant pays all utilities and property taxes except for a portion of taxes for the apartment. Used as a restaurant/bar with full kitchen, three washrooms, two furnaces and Central air. Partial basement with very large apartment rented $700.00 plus all utilities. Each unit has separate meters. 79 Erie Avenue, U#75, Brantford | $419,900

Call Today 905-945-0188

3 Bedroom Two Storey Townhouse

Page 6

The GOLFI TEAM Real Estate Market Watch

Oct 2016

â&#x20AC;&#x153;We sell MORE...because we do MORE!â&#x20AC;?

Waterfront

Grimsby Feature Home

2-19 Lake Street, Grimbsy Luxury Waterfront 3 bedroom end unit townhome in Mariner Bay Estates. Approximately 2300 square foot of one floor living in private enclave of homes built by award winning builder, designed with style and comfort in mind. There are natural stone travertine floors throughout the open concept kitchen, dining room and great room. Features include 12 foot ceilings, ample kitchen cabinets, and built-in appliances; great room features built-in cabinetry to conceal TV, 2 sided fireplace to adjoining guest bedroom and sliding doors to deck. Master bedroom beautifully detailed with floor to ceiling stone fireplace and ensuite fit for your own spa getaway. Home comes equipped with its own elevator for entry from main level; additional storage created with custom cabinetry in most areas of the home. Large 25x12 foot deck, stunning cedar pergola with cover and winding staircase down to ground level sitting area takes you to not one, but two 33 foot private boat slips. This home is a rare offering for the buyer who is looking for the ultimate in lifestyle living. Call The Golfi Team today at 905-945-0188 for a private viewing or visit our website at www.robgolfi.com. Thank you for viewing my listing.

www.GolfiTeam .com

Oct 2016

The GOLFI TEAM Real Estate Market Watch

Page 7

W aterfront H omes C urrently A ctive

City/Town

Address

Building Type

Style

Bedrooms

Baths

Price

List Date

Beamsville

LAKESIDE Dr

Detached

2 Storey

$1,899,000

04/21/16

Beamsville

LAKESHORE Rd

Detached

2 Storey

3.1

$945,000

06/21/16

Grimsby

NORTH SERVICE Rd

Detached

2 Storey

3.1

$2,299,000

07/20/16

Grimsby

LAKE St

Townhouse

1 Storey/Apt

$1,274,900

07/18/16

Grimsby

WINSTON Rd

Townhouse

2 Storey

2.1

$399,900

09/16/16

Hamilton

BEACH Blvd

Detached

2 Storey

$1,500,000

08/29/16

Hamilton

BEACH Blvd

Detached

2 Storey

3.1

$1,499,999

09/22/16

Hamilton

Edgewater Dr

Townhouse

2 Storey

3.1

$999,886

09/09/16

Hamilton

Edgewater Dr

Townhouse

Stacked Townhouse

3.1

$899,900

07/08/16

Hamilton

BEACH Blvd

Attached/Row

2 Storey

$699,900

08/22/16

Hamilton

BEACH Blvd

Townhouse

3 Storey

$599,900

09/26/16

Hamilton

BEACH Blvd

Townhouse

3 Storey

1.1

$589,900

09/03/16

St. Catharines

MARTINDALE Rd

Detached

2 Storey

4.2

$1,800,000

09/21/16

St. Catharines

LAKESHORE Rd W

Detached

2 Storey

2.1

$1,399,900

09/23/16

St. Catharines

LAKESHORE Rd W

Detached

Bungalow

$1,275,000

07/20/16

St. Catharines

VILLAGE GREEN Dr

Detached

2 Storey

3.1

$1,190,000

10/05/16

St. Catharines

LAKESIDE Dr

Townhouse

Bungalow

2.1

$989,000

06/27/16

St. Catharines

PINE St

Detached

2 Storey

1.1

$935,000

08/05/16

St. Catharines

DALHOUSIE Ave

Detached

Bungalow

2.1

$899,900

08/31/16

St. Catharines

Eleventh St

Detached

2 Storey

1.1

$684,900

07/04/16

St. Catharines

PINE St

Detached

Bungalow

$929,000

09/01/16

Stoney Creek

LOCHSIDE Dr

Detached

Bungalow

3.1

$3,299,000

09/11/16

Stoney Creek

NORTH SERVICE Rd

Detached

Bungalow

$1,900,000

06/28/16

Stoney Creek

NORTH SERVICE Rd

Detached

2 Storey

2.1

$1,699,900

07/28/16

Stoney Creek

LAKEVIEW Dr

Detached

2 Storey

3.1

$1,399,000

09/13/16

Stoney Creek

EDGEWATER Dr

Townhouse

2 Storey

2.1

$819,900

08/31/16

Stoney Creek

SUNVALE Pl

Townhouse

2 Storey

2.2

$699,900

09/16/16

Stoney Creek

SUNVALE Pl

Townhouse

2 1/2 Storey

3.1

$599,999

07/26/16

Waterfront Homes Sold in the Last 90 Days City/Town

Address

Building Type

Style

Bedrooms

Baths

Price

List Date

Sold Date

Sold Price

Burlington

100 OAKLANDS PARK Crt

Detached

2 Storey

3.1

$2,000,000

06/01/16

08/12/16

$1,940,000.00

Burlington

174 NORTH SHORE Blvd E

Detached

2 Storey

3.1

$1,550,000

08/08/16

08/17/16

$1,550,000.00

Burlington

2210 LAKESHORE Rd #802

Apartment Unit

1 Storey/Apt

$855,000

07/26/16

09/23/16

$855,000.00

Burlington

2210 LAKESHORE Rd #505

Apartment Unit

1 Storey/Apt

$686,000

06/09/16

07/29/16

$686,000.00

Grimsby

4 9TH St

Detached

2 Storey

1.1

$879,900

02/22/16

09/30/16

$845,000.00

Hamilton

525 BEACH Blvd

Detached

2 Storey

$550,000

07/23/16

08/03/16

$550,000.00

Jordan Station

2081 NORTH SERVICE Rd

Detached

Sidesplit

$605,000

07/02/16

07/21/16

$605,000.00

St. Catharines

28 GRAHAM Ave

Detached

1 1/2 Storey

3.1

$1,194,000

06/21/16

08/29/16

$1,175,000.00

St. Catharines

28 ROYAL HENLEY Blvd

Detached

3 Storey

3.1

$1,400,000

07/14/16

08/15/16

$1,400,000.00

St. Catharines

123 ARTHUR St

Detached

Bungalow

$737,000

06/06/16

08/10/16

$737,000.00

Stoney Creek

71 LAKEVIEW Dr

Detached

2 Storey

2.1

$1,450,000

06/13/16

08/31/16

$1,450,000.00

Stoney Creek

9 CAMPVIEW Rd

Detached

1 1/2 Storey

$1,320,000

07/22/16

09/13/16

$1,320,000.00

Stoney Creek

118 WATERCREST Dr

Detached

2 Storey

2.1

$1,255,000

06/01/16

07/08/16

$1,255,000.00

Stoney Creek

85 EDGEWATER Dr #3

Townhouse

2 Storey

2.1

$785,000

08/03/16

09/02/16

$785,000.00

Stoney Creek

10 TRILLIUM Ave

Detached

1 1/2 Storey

$620,000

07/22/16

10/05/16

$620,000.00

Stoney Creek

515 NORTH SERVICE Rd #45

Townhouse

1 Storey/Apt

$465,000

06/17/16

08/02/16

$465,000.00

Stoney Creek

515 NORTH SERVICE Rd #33

Townhouse

1 Storey/Apt

1.1

$469,000

07/13/16

08/17/16

$469,000.00

Stoney Creek

515 NORTH SERVICE Rd #73

Attached/Row

1 Storey/Apt

2.1

$475,000

07/26/16

09/18/16

$475,000.00

Stoney Creek

16 CAMPVIEW Rd

Detached

Bungalow

$525,000

08/09/16

09/08/16

$525,000.00

Stoney Creek

515 NORTH SERVICE Rd #39

Townhouse

1 Storey/Apt

2.1

$502,500

06/16/16

07/12/16

$502,500.00

Rob Golfi of RE/MAX Escarpment Golfi Realty Inc. Brokerage does not imply that this is in anyway an official advertisement or publication of RE/MAX. Â© 2016. All rights reserved. this representation is based on sales and data reported on October 1st 2016 by multiple brokers/agents to the Association of Hamilton-Burlington (RAHB). Listing and sales may not be those of RE/MAX and neither the RAHB nor its MLS guarantee the accuracy of this data, which may not reflect all of the real estate activity in the area. E&OE. This market report is not intended to solicit properties already listed for sale nor intended to cause a breach of an existing agency relationship. If you do not wish to receive any further newsletter correspondence, please contact my by email or telephone.

Page 8

The GOLFI TEAM Real Estate Market Watch

Oct 2016

Grimsby, Beamsville, Lincoln & West Lincoln

ROB GOLFI

Sales Representative

3 Bedroom Home with 2 Car Garage

Adult Lifestyle Community!

Great Building Lot!

Bungalow on 1 Acre Lot!

Open Concept 2 Bedroom Home!

3 Bedroom Semi-Detached

2 storey, 3 bedroom home with main floor living roomm, dining room, family room and eat-in kitchen Double garage, private backyard. Bedrm level laundry, master bed with ensuite and walk-in closet. Roof 2015, AC 2014. 238 Dorchester Drive, Grimby | $514,900

Bungalow on 1 acre lot featuring open concept living with wood stove. Large kitchen, separate dining room, dinette and living room with new carpet. Covered deck and front porch. Bathroom, shingles and windows have been updated. Large double garage/workshop. 2304 North Shore Drive, Lowbanks | $269,900

Former Model Home this 1075 sq.ft. Lilac model is fully finished. Upgraded features, crown molding, pot lighting, upgraded kitchen, porcelain floors, upgraded faucets throughout, professionally painted, accent wall in living room and more. 4 Gaddye Lane, Binbrook | $444,900

2 bedroom home backing onto orchards. Lots of updates: CA/Furnace ‘14, windows, doors, flooring, new carpet, freshly painted, entire roof new structure with 35 year shingles. Low Pad fee. Fee includes water, property taxes, pad fee. Buyer to be approved by park. 4437 Timothy Lane, Beamsville | $139,500

Steps to Lake Erie, Near Port Maitland pier and golf course. Buyer to satisfy themselves with any permits needed. Year round serviced paved roads with easy access winter or summer. Minutes to Dunnville and shopping! Compare prices of building lots in area. 30 Johnson Road, Dunnville | $29,900

Nicely appointed 3 bedroom semi-detached. Open concept design with walk-out to back deck. Basement rec room with fireplace and shared laundry. Credit Check, references and letter of employment required. Tenant to have contents and liability insurance. 643 Woodbine Street, Niagara Falls | $1,500/mth

LUXURY WATERFRONT!

Custom 4 Bedroom Home with Upgrades

Custom built 4 bedroom home with quality upgrades. Open and inviting floor plan with 9 ft ceilings, large gourmet kitchen with granite counters, huge island and stainless steel appliances. New trim and fixtures, hardwood flooring, maple staircase with wrought iron spindles, finished basement with two walk-outs. 4092 Mountain Road, Beamsville | $679,900

Beautiful 2 Storey Home For Lease!

3 Bedroom home for lease with upgrades, 9 ft. ceilings, chef’s kitchen, SS appliances, main floor laundry, and master suite! Located 5 mins from Binbrook Tract Conservation Area. No pets. Credit Check, references and letter of employment req’d. Tenant to have contents and liability insurance. 83 Country Fair Way, Binbrook | $2,200/mth

Luxury Waterfront!

Luxury Waterfront 2 Bedroom plus den end unit townhome. Upper level unit with entry from main level (elevator/stairs). Open concept design with travertine floors, 2 bedrooms with ensuite, office, large deck 25x12’ and stairs down to your two – 33 FT boat slips. 19 Lake Street, Unit 2, Grimsby | $1,274,900

Your Home Sold GUARANTEED! Open Concept, Upgraded 2 Storey Home

Open concept fully upgraded two storey home. Large eat-in kitchen with island, 3 large bedrooms. Close to elementary schools and QEW. Credit Check, references and letter of employment required. Tenant to have contents and liability insurance. 7 Vanderburgh Lane, Grimsby | $2,500/mth

Live/Work Property!

Extensively renovated home and shop on busy HWY 20. 4+1 backsplit open concept main floor with lower level oversized family room and sunroom. Shop currently utilized for Auto Body/Car Sales. Call for more details. 9747 #20 Highway, West Lincoln | $1,269,900

Get your FREE HOME EVALUATION and get your home sold! Call The Golfi Team today!

905-575-7700 www.GolfiTeam .com

Oct 2016

The GOLFI TEAM Real Estate Market Watch

Vancouver homes sales plunge nearly 33% in second month since foreign buyers’ tax

Page 9

Home sales dipped below a 10-year monthly sales average for the first time in more than two years but average prices continued to climb in metro Vancouver. The Real Estate Board of Greater Vancouver said Tuesday the average detached home in the region sold for $1,532,242 in September, up from $1,470,265 a month ago, or 4.2 per cent. At the same time, the average price of a condominium climbed 3.8 per cent from a month earlier, reaching $549,214. “Supply and demand conditions differ today depending on property type,” Dan Morrison, the president of the board, in a statement. “We’re seeing more demand for condominiums and townhomes today than in the detached home market.” The price variations come following a new tax announced on July 25 and implemented on Aug. 2 which imposes a 15 per cent additional property tax on foreign residents. On Monday, the federal government announced stricter rules on people claiming a tax exemption on principle residence and tightened up financing rules. Overall, the Vancouver board’s MLS Home Price Index composite benchmark price for all residential properties in the metro area was up 28.9 per cent in September from a year ago. The composite was down 0.1 per cent from August. “Changing market conditions are easing upward pressure on home prices in our region,” Morrison said. “There’s uncertainty in the market at the moment and home buyers and sellers are having difficulty establishing price as a result.” For September, there were 2,253 sales, a 32.6 per cent decline from a year ago and a 9.5 decline from just August. Last month’s sales were 9.6 per cent below the 10-year sales average for the month, the first time that had occurred in the region since May, 2014. New listings reached 4,799 in September but that is still a one per cent decline from a year ago. However, it does represent an 11.8 per cent increase from August. The total number of homes currently listed for sale on the MLS system was 9,354 in September, a 13.4 per cent decline from a year ago but a 10 per cent increase from August. The sales-to-active listings ratio for September 2016 reached 24.1 per cent, the lowest the ratio has been since February, 2015. “Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark, while home prices often experience upward pressure when it reaches the 20 to 22 per cent range in a particular community for a sustained period,” the board said in its release. Sales of detached properties in September were off 47.6 per cent from a year ago with 666 homes changing hands last month. The benchmark price for detached properties was $1,579,400, a 33.7 per cent increase from a year ago but a 0.1 per cent decline from August. Apartment property sales were were down 20.3 per cent in September from a year ago. The benchmark price of an apartment property rose 23.5 per cent during the same period to $511,800 but declined 0.5 per cent from a month ago.

Financial Post | Garry Marr | October 4, 2016

OUR 5  CUSTOMER REVIEWS “We had a great experience with The Golfi Team. We were having some trouble selling our home even though everyone said it was a beautiful, pristine home with so much going for it. Rob gave us some excellent advice and developed a strong marketing plan to get it sold and it was done. The team was always responsive and very professional. It was a stressful time and they were always there for us. We would highly recommend them!” - Dennis and Carol Edwards “It was an honour to work with Matt Randazzo of The Rob Golfi Team at Remax...he was very instrumental and desicated to making our needs come to freuition and we would not hesitate to consult with him again in any future possibilities...” - Robert Wilkinson “I was very impressed with The Golfi Team right from the start. My home had not sold in two months; a good home in a good neighbourhood so something was wrong. I then listed with the Golfi team and right away noticed the difference. After several showings in less than a week I was presented with two good offers, one over asking price. The team kept me informed every step of the way. I will definitely recommend The Golfi Team right to my friends. Thank you so very much!!!” - Julie Mackey

Call Today 905-945-0188

The Golfi Team Real Estate Market Watch TheGolfi GOLFITeam TEAMReal RealEstate EstateMarket MarketWatch Watch The

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Real Estate Lawyer Real Estate Lawyer Lawyer Real Estate

Paul Lewis Settimi Paul Lewis Settimi Lewis Barrister, Solicitor andSettimi Notary Public

Jacqueline Paradisi Jacqueline Paradisi Jacqueline Paradisi

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Oct 2016

The GOLFI TEAM Real Estate Market Watch

Page 11

I Sell Houses Fast & For Top Dollar! We are the #1 selling agents in the Hamilton, Burlington and surrounding area. We have thousands of buyers in our database ready to buy homes for top dollar in your neighbourhood. We have a proven track record and if I can’t sell your home I will buy it. Call today or fill out the form online at

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Page 12

The GOLFI TEAM Real Estate Market Watch

Oct 2016

THE GOLFI TEAM

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Welcome Rose Pimenta-Martino to The Golfi Team!

ith almost 30 years of customer service experience, Rose’s clients trust, respect and have the utmost confidence in her professional abilities. She is committed to providing you exceptional service and helping you make an informed decision about one of the biggest investments of your life. Rose is honest, enthusiastic and passionate about meeting your real estate needs.

Rose Pimenta-Martino Sales Representative

Cell: 289-441-3120 Office: 905-575-7700 Rose.M@GolfiTeam.com 664 Fennell Ave. East Hamilton, ON L8V 1V1

As a proud life long resident of Hamilton, Rose grew up in the downtown core and presently resides on the Hamilton mountain. A dedicated mother of 2, she balances family, work and a healthy lifestyle. Rose’s passion for fitness is evident as she is a determined runner having completed several marathons including ‘Around the Bay’ and other charitable events. When you buy or sell with Rose you can rest assured that you will be her first priority. She is genuinely committed to meeting and exceeding your expectations, as she pays great attention to detail and is a consummate professional. Rose will make your real estate experience as stress free as possible.

About The Golfi Team RE/MAX:

The Golfi Team RE/MAX is a locally owned and operated full-service real estate brokerage located in Hamilton and Grimsby. With years of experience, Rob Golfi and The Golfi Team offer home buyers and sellers expertise in all aspects of real estate. Our agents have extensive knowledge of the real estate in Hamilton, Grimsby and the surrounding areas, and we’re dedicated to providing you with the best service and results in the industry. Feel free to call us at 905-575-7700 with any questions, or to connect with one of our real estate experts. We’re looking forward to meeting you!