MarketWatch April B 2012 14/04/12 2:59 PM Page 1
April 17, 2012 - Vol 38a
P R E S E N T E D
B Y
T H E
Rob Rob Golfi Golfi Sales Sales Representative Representative
HOME EVALUATION NO COST • NO OBLIGATION
905-575-7700 • 905-945-0188
G O L F I
T E A M
MarketWatch April B 2012 14/04/12 2:59 PM Page 2
Page 2
The Golfi Team Real Estate Market Watch
April 17, 2012
Two-Dog Condo Problem About Rob Golfi
S
ince the inception of his career in 1997, Rob Golfi has recognized that understanding his clients’ needs is essential to providing excellent service. As business grew, Rob assembled the Golfi Team in an effort to maintain the same level of professionalism clients have come to expect. Shortly thereafter in 2003, the team received the prestigious honour of being among the top 100 Real Estate Teams for RE/MAX Canada, and this status continues to date. Rob’s experience and aggressive negotiating skills have earned him every major honour awarded by RE/MAX, including President’s Club, 100% Club, Platinum Club, Chairman’s Club, Hall of Fame in 2003, the Lifetime Achievement Award in 2006, his SRES® designation in 2009 and the Diamond Club Award in 2010. Having worked with
many of the industry’s professionals over the years, he has the necessary edge to best negotiate the sale of your home. Any agent can list your house, but Rob’s knowledge, extensive marketing background and dedication gives clients peace of mind when dealing with the single most important investment in their lives. With years of combined experience, the Golfi Team can provide your home with a level of exposure that most agents cannot. Utilizing a team approach also means that they will likely find a purchaser to buy your home sooner, rather than waiting for other agents to approach you with potential buyers. Ranked in the top 5 of nearly 2,000 sales agents in the Hamilton-Burlington and Niagara areas, listing with Rob and the Golfi Team is the right choice when choosing someone to represent your best interest. -Å
SUDOKU 1 7 2
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The Solution Fill in the grid above, so that each row of 9 squares, each column of nine and each section of nine (three squares by three) contains the numbers 1 through 9 in any order. There is only one solution for the puzzle and the numbers shown can NOT be changed.
If you own pets, particularly bigger dogs like these ones, you may want to check out a condo's rules before bidding to buy one.
J
ack and Susan thought they found the condominium of their dreams. They loved the building, the view and the amenities. They could take their two dogs on long walks in the area. So they bid on the unit, got involved in a bidding war and won the auction. The deal was conditional on their being satisfied with the building’s certificate of status. The status certificate has all the condo rules along with other important information, such as who the management company is, the financial statements, the amount of money in the reserve fund and when the last reserve fund study was completed. It was at that point that Jack and Susan came to see me. It turned out the rules only allowed one pet and the pet could not be more than 25 pounds. Their dogs weighed closer to 50 pounds each and they wanted to know if this rule could be easily changed. Since the rule was found in the condo declaration, it would require 80 per cent of owners to change it. I told them that in my experience, this was unlikely to happen. It is very hard to get condominium owners to agree on anything, and pets are a very sensitive subject. Many owners choose buildings precisely because there are pet restrictions. They told me that they heard of some owners who had two dogs or heavier pets and no action was brought against them. Could they rely on this, buy the unit and hope no one would make a fuss? This is a difficult question because it raises the issue of what happens when a condo building is not enforcing its rules. Does it allow others who buy in to do the same thing? In some legal decisions, when boards did not enforce their pet rules, they could not take the position against new owners who brought pets with them.
www. GolfiTeam .com
In other cases when buildings restrict pets, owners have made Human Rights arguments, claiming that they relied so much on their pet that to force them to remove the pet would leave them emotionally disabled. Still, I could not give them any guarantee that they would be able to keep their dogs if they moved in. In the end, they decided to cancel the deal, as they did not want to take the chance that they would have to remove their dogs later. My question is: Why were they bidding on this unit in the first place? A key step in your research of resale condos is to find out what the status certificate says first, before you bid. Anyone can order it for $100. When you interview real estate agents, ask them if they have this information. The top agents know which buildings are well run and which aren’t. They also should know which buildings have unusual restrictions. You should too. If you are renting a condo and the building has pet restrictions, make sure that the condo rules are attached to the lease and that your tenant understands that they are not permitted any pets. Finally, if a pet is not supposed to be in your building or if it is bothering the other unit owners, you need to report this to your board as soon as possible. Then the board or the management company needs to get involved quickly to work with the owner to solve the problem, or if necessary, declare the pet to be a nuisance and obtain an order to remove it from the building. Mark Weisleder is a lawyer, author and speaker to the real estate industry. Email Mark at: mark@markweisleder.com.
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MarketWatch April B 2012 14/04/12 3:00 PM Page 3
April 17, 2012
Rob Golfi*
The Golfi Team Real Estate Market Watch
Page 3
Hamilton, Stoney Creek, Ancaster, Dundas & Glanbrook
Hamilton east $349,500 15 Strawberry Drive
Hamilton mtn $339,900 14 Rowan Court
Hamilton mtn $299,900 52 Deschene Avenue
Hamilton West $299,900 27 Paradise Road South
Big 2 storey home loaded w/upgrades! Oak staircase & trim, hardwd flrs, main flr den, 4 baths, 4 car driveway, sliding doors to patio, park like yard w/shed, & updated shingles. Fully finished bsmt, w/raised flr, & kitchen. 2 BR inlaw setup w/separate entrances. Note the lot size!
Court location. Updates include roof, garage door, hardwood floor, gas fireplace, downstairs bathroom, furnace and A/C, most windows, front entry door, concrete pad with shed.
Seeing is believing! Features showcase fireplace w/granite in LR, updated kitchen & bathrms, hardwd flrs in living rm & BRs, all vinyl windows, shingles 2011, furnace & C/Air 2006, finished basement w/full in-law set up, 16x32 ft. heated & insulated garage, $1000’s spent!
Westdale classic in a great location 5 minutes away from McMaster. Bright kitch w/breakfast bar, fantastic investment w/student income of $2680.00/mth, fin. basement, new furnace & air. Parking for 2 cars & single garage.
Hamilton West $379,900 63 Paisley Avenue South
stoney Creek $619,900 92 Fifty Road
Hamilton West $279,762 72 Whitney Avenue
Brantford $279,900 91 Osborn Avenue
Prime property in the heart of Westdale: fully furnished with couches, chairs, beds, computer desk & dresser, ideal for foreign students. Within walking or biking to McMaster, close to shopping & busses, many updates in past 7 yrs. Incredible income! No early a.m. showings!
Nature's paradise with perfect view! Gorgeous 1acre side split sitting on the bench of Niagara Escarpment. Gleaming hardwood flrs, large, custom maple kitchen with granite counter tops, 6 bedrms with in-flr heating, 4 bthrms, steel roof, new windows, doors & much more. Call today!
Close to Mac University. Has six rooms, two kitchens and two bathrooms. Front bedroom was the garage. 4 rooms rented to Tenants who would like to stay. Month to month rental. Place shows nice.
Beautiful all brick 2 storey home! This home features Cherry hardwd flrs in hallway, kitchen & gathering area, kitchen w/island & upgraded backsplash, master bedroom w/walk-in closet & ensuite, rec room w/potlights & walkout to deck with a huge rear yard. Includes C/vac, C/air and dishwasher.
Hamilton Ctr $234,762 68 Holton Avenue South
Hamilton West $950/mo 47 Melbourne Street
Hamilton West $339,900 260 Bay Street S., Unit 2
stoney Creek $549,900 132 Millen Road
Attention Investors! Big home used as two family! Main level one BR, kitchen, living room, dining room, 4pc bath rented $875/mo w/utilities included. 2nd & 3rd floor has 4 BRs rented $400/mo ea. & share living room, bthrm & kitchen. Laundry room in the basement.
Fantastic location! Clean 2 BR home. Walk to Locke & Dundurn Street & 5 min. walk to amenities. Fenced yard w/rear parking, no pets, no smokers, credit check with application. 1yr min. lease. Perfect for single professional.
Gorgeous Durand area condo! Only 3 units in this building, part of 86 Herkimer conversion. Separate garage, locker in bsmt. Access to roof top terrace in 86 Herkimer. Shows 10++ w/upgraded fixtures, cabinets, counters, lighting, window treatments, & appliances.
AWESOME BEAUTY. Completely updated, hardwd flrs, kitchen w/maple cabinets, granite counters, bathrms updated, crown moulding, spiral staircase, exterior has all new eaves facia & soffits, new shingles, new siding with stone skirt, fenced yard, undergrd sprinkler system.
Hamilton Ctr $124,900 86 Rosemont Avenue
stoney Creek $189,900 518-500 Green Road
Hamilton Ctr $114,900 294 Emerald Street North
Hamilton mtn $359,900 23 Vineberg Drive
Clean, bright & immaculate 3 bedrm all brick 2.5 storey home avail for immed possession. Features updated kit. cabinets, spacious living & dinning rm w/neutral colour ceramics, 2 pc bath in basement with 2nd kitch, private side drive, fenced in yard, close to buses & shopping.
Beautifully maintained and upgraded suite with breathtaking views from windows and balcony. Features new furnace & c/air system, new 800 series doors, freshly painted, amenities include pool, gym, sauna, library, work shop, squash courts, locker #14, and a parking spot.
Live mortgage free! With the upstairs apartment rental of $625/mth your mortgage is paid. Freshly painted w/shingles 4 yrs old. Separate entrance to all floors. Parking for up to 6 cars in the back. Owner occupies main floor, with boarder in the basement.
Over 2000 sq ft., 4 level backsplit! Family room w/fireplace, big kitchen w/oak cabinets & island, vaulted ceilings in LR/DR, open from kitchen to family rm, big rooms & walkout to covered patio w/3 year old hot tub. Turner park, shopping, & YMCA all within walking distance.
Home evaluation no Cost or obligation
Call Rob Golfi today!
905-575-7700 www.GolfiTeam.com
MarketWatch April B 2012 14/04/12 3:00 PM Page 4
Page 4
The Golfi Team Real Estate Market Watch
April 17, 2012
13 Ways on How to Win a Bidding War early, but perhaps let the seller stay there for a few weeks, rent free, to more easily arrange their own move.
property, without having to dramatically change your standard of living. 3.
Bidding wars are emotional and stressful. By being properly prepared, you have the best chance of succeeding.
W
ith fewer sellers and high demand for housing, bidding wars are back as the spring market gets under way. But for buyers these auctions are stressful and fraught with dangers, not the least of which is that you may end up paying too much for a house and go on to regret it. Here are some things that can help
4.
Conduct a home inspection before submitting the offer, so you can make an offer without conditions. Sellers prefer this.
5.
Do not participate in a faxed offer process. Always insist on attending with your agent in person.
6.
Put in a deposit with your offer of at least 5 per cent of the price, to demonstrate you are serious. If possible, use a bank draft.
7.
Bid later in the day and give the seller a shorter time to deal with it. That way they will not have the time to generate offers from other buyers.
8.
Offer to close the deal faster.
9.
Market yourself and your family. Many sellers do care who will be living in their home and taking care of it after they leave. Explain how you and your family will do this.
you come out ahead: 1.
2.
Research the area to get the low down on the neighbours, schools, parks, demographics and crime rate. Visit with your lender or mortgage broker in advance to get a clear understanding as to what you can afford to spend in order to buy a
Work with a professional sales person. You need to know the real market value of properties. Many sellers deliberately list their property at 5 to 25 per cent below market value to bid it up.
10. Be flexible. Offer to close the deal
11. Know your limit and do not budge from it. Do not get carried away. It is better to walk away and try again on another property than to seriously overpay. 12. In some cases, sellers indicate they will not accept any offers for two to three days. Bring your offer in early as the seller will usually want to see it anyways and this may give you an advantage. 13. If you are suspicious about whether there is a competing offer, consider inserting a clause that states that if the seller does not receive another offer, you will have the option to either cancel or revise yours. You can also include a requirement that if the seller accepts your offer, they will provide the name of the competing real estate brokerage that submitted the other offer. Buyers should consult their own real estate buyer agent or lawyer in preparing this clause to ensure complete protection. Mark Weisleder is a real estate lawyer. If you have any questions about real estate issues, email mark at mark@markweisleder.com
“If you’re looking for something in the trendiest neighbourhood, how do you feel about living in Cyberspace?”
Your house will get noticed FIRST when listed by the Team who gets noticed the MOST!
Call the Golfi Team Today!
905-575-7700
Call Today 905-575-7700
MarketWatch April B 2012 14/04/12 3:00 PM Page 5
April 17, 2012
The Golfi Team Real Estate Market Watch
Page 5
Facts About the GOLFI TEAM… 3 Over $60 Million in Sales Annually** 3 #1 Real Estate Office in Hamilton-Burlington* 3 Amongst the Top Sales Reps in Ontario** 3 Ranked Top 50 Teams in Canada for ** 3 Ranked Top 100 Teams world wide**
1998
Rob Golfi Sales Representative
2003
2003
2006
2010
OVER $460 MILLION IN REAL ESTATE SALES *#1 Brokerage in the Realtors Association of Hamilton Burlington MLS from 1994 to 2010 consecutively. **Year End Standings for 2010, based on residential commissions paid. Rankings are compiled from figures submitted by regional offices.
tHe maRKet iS Hot noW! t
liS F o % R 98 o F SolD
DaYS 6 3 in
D Sol
Hamilton mtn $315,900 31 Normajean Avenue Trendy, stylish raised ranch offers beautiful updated oak gourmet kitchen, new bathrm, gorgeous hardwd, completely finished basement w/kit, bathrm, & bedrm ideal for in-law suite. Shingles 4 yrs new, furnace & C/air 1 yr new, vinyl windows, close to busses, shopping & schools.
aYS D 0 n3
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iS oF l % 7 oR 9 F D Sol
grimsBy $169,900 #31-125 Livingston Avenue Great Value in this lovely 3 bedroom end unit townhome! Amazing escarpment views from your patio door. Freshly painted, hardwood flrs on upper & main levels. Corner gas fireplace in the living room. Plenty of parking, close to amenities and go station.
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DaYS 4 2 n i uYeR B n F-toW o t u o
Hamilton West $172,900 453 Main Street West
Hamilton mtn $314,900 30 Rockview Avenue
Rare opportunity to own a duplex in West Hamilton for this price! Separate hydro meters. 7% cap rate “as is”. Potential to finish attic. Side drive! Roof (05). Buyer to verify all info. Showings from 12-7pm only w/24 hrs notice.
Big 4 level backsplit with eat-in kitchen, separate dining room, main floor laundry & 3pc bthrm & bedroom, above grade walk-out, family room w/FP. Shingles 4yrs new, 1-1/2 car garage with dbl drive. Fruit trees in the backyard. Close to Limeridge Mall, Redhill/Linc and amenities.
Get YouR Home SolD toDaY! 905-575-7700
S! Y a D 35 n i D Sol Hamilton Ctr $124,900 85 Belview Avenue 3 BR home for immediate possession & priced for a quick sale. This home features hardwd under broadloom in LR/DR, fenced yard, & front drive. Needs updating & is ideal for an investor or first time buyer. Ask about the home improvement program. Worth taking a look!
R uYe B aSH C Y om t D Sol grimsBy $239,900 69 Mountain Street Privacy in the city! Gorgeous property sitting on the edge of escarpment surrounded by towering trees, fantastic 60x125ft lot with level back yard, great inlaw set up with private entrance, furnace 2 yrs new, shingles 5 & 10 yrs new, 19x26ft garage, & 21x19ft carport w/steel roofs.
BunGaloW
eR BuY
S FeR F o iPle t l u Hm t i DW Sol
Burlington $454,900 2430 Redfern Road
stoney Creek $274,900 326 Jones Road
Beamsville $249,900 5120 Connor Drive
EXCLUSIVE Listing. 2 Storey family home, court location close to Go Train, HWY access & shopping. Many updates, roof, furnace & central air, most windows, 2 bathrooms, ceramics, main floor hardwd, gas fireplace & landscaping.
Large duplex on 100 x 150 ft lot. Two 3 bdrm units plus professionally finished 1 bdrm in-law suite in basement. 1.5 car garage & parking for up to 10 cars with multiple street access. Huge private fenced backyard. Great investment opportunity! Incredible income potential!
stoney Creek $489,900 246 Glenholme Avenue SPECTACULAR, LUXURIOUS, IMMACULATE! 2700 sqft, clean and bright 4 bedroom home features hardwood floors & carpets, 9ft ceilings w/potlights, upgraded cabinets in kitchen and bathrooms, and a professionally finished basement w/over the top finishes.
Fabulous end unit freehold Bungalow 1,110 sqft! 90 day closing avail. Come & visit our model home & be wowed on this Energy Guide & Tested Home. Incl great size bedroomss w/3 pc ensuite off master, kitchen area overlooking family rm, attached to next unit only at garage.
S FeR F o iPle t l u Hm t i DW Sol
H CaS Y om t D Sol
Call Today 905-575-7700
iCe R P liSt e v Bo a D Sol
MarketWatch April B 2012 14/04/12 3:00 PM Page 6
Page 6
The Golfi Team Real Estate Market Watch
Grimsby, Lincoln West Lincoln & Niagara
Rob Golfi*
stevensville $264,9000 3669 Carver Street Beautifully maintained 7 yr old, 2 BR bungalow. Large open concept living room/dining room w/cathedral ceilings complete with a home office/den. Completely finished basement w/corner gas fireplace, wet bar and a 2 piece bathroom. Loads of upgrades.
April 17, 2012
Beamsville $459,900 2845 Thirty Road North 2-1/2 storey, 4 BR on over an acre w/barn/garage & enclosed hot tub. Orig. hardwd & trim throughout w/many updates. Generous room sizes & lots of room to entertain. Great country location close to water & town amenities.
grimsBy $389,900 100 Sumner Crescent
vineland $274,900 3951 Victoria Avenue North
FABULOUS FIND! Gorgeous home approx 2 yrs new, features hardwd & ceramic flrs, 4 large sunny bedrms, spacious family rm with showcase fireplace, large stylish kitchen w/walk out to back yard deck, unspoiled basement with good ceiling height & walk out to fenced yard.
This charming bungalow will surprise you! Clean & bright 3+1 BR home features prof. finished basement w/in-law set up, hardwd flrs, kitchen w/dinette, beautifully landscaped yard w/pergola & hot tub. Updates include shingles 2009, vinyl windows, & central/vac.
WateRFRont
7 Chestnut Drive grimsBy $649,900
PURE LUXURY! Over 3000 sqft. flourished w/upgrades, lrg kitch w/Caesar stone throughout, hardwd in great rm & dining rm, lrg master bedrm w/upgraded ensuite w/oversized glass shower, 2 stainless steel gas fireplaces, oak handrails w/aluminum spindles, 9 ft ceilings.
grimsBy
$1,499,900 143 Lake Street
Fabulous waterfront property! Custom built, 3000 sq ft home with lake views from every room. Maple hardwood floors, granite counters, master suite with access to back deck, ensuite and walk-in shower. Handicap adaptable!
Beamsville $332,900 4034 Barry Drive Trendy, stylish raised ranch! This home features 9-ft ceilings w/bright big windows, hardwd flrs, kit. w/walk out to patio and above ground pool, renovated bathrm, sun filled basement w/family rm, gas FP & spare BR w/full bathrm. Fantastic escarpment neighbourhood w/an extra deep lot.
vineland $299,900 3380 Dustan Street Cozy and stylish bungalow in peaceful lakefront community with access to beautiful walking paths, waterfront clubhouse & beach! Open concept living features 9ft ceilings, 2 full bathrms, large kitchen w/patio doors leading to back yard deck, main flr ldry.
grimsBy $264,900 195 Main Street West Updated, trendy escarpment property in 2003. Showcase gas fireplace in family rm, large master bedrm with hotel style ensuite, large kitchen with porcelain tiles, dinette w/patio doors leading to private deck overlooking escarpment.
grimsBy $249,900 32 Cline Mountain Rd. Fantastic 3 level side split sitting on 70x170ft lot backing onto green space, features vinyl windows, laminate floors, concrete drive, room to build garage, quick access to QEW, country living in the community of Grimsby.
Together‌ Delivering More!
Rob Golfi
Sales Representative
www.golfiteam.com
MarketWatch April B 2012 14/04/12 3:00 PM Page 7
April 17, 2012
The Golfi Team Real Estate Market Watch
Page 7
Grimsby, Lincoln West Lincoln & Niagara
Rob Golfi*
HOMe evaluaTIOn No Cost or Obligation
Beamsville $359,900 4469 Weltman Way BEAUTIFULLY MAINTAINED 2 STOREY HOME! 7 yrs new! Oak staircase, walnut hardwood flrs, wonderful family size kitchen, upgraded light fixtures throughout, custom blinds & california shutters, master bedrm with ensuite & walk in closet, fenced yard, large patio deck.
grimsBy $624,900 5 Heathcote Court
West linColn $324,000 9407 Silver Street
Court location at the base of the Escarpment. 3042sqft Jewel Model boasts 5 bedrms upstairs, dining rm, custom kitchen, family rm w/FP. Basement fin with walkout to hottub in customized gazebo. Prof. landscaped.
Amazing home on 100 x 200ft lot, built in 1953, has an open concept LR/DR w/hrdwd flrs, huge master suite, new HighEff gas furnance/CA, updated bath, entry doors, & water cond.. Bonus rm over the garage.
Call the Golfi Team Today!
905-945-0188
WateRFRont
in-laW SetuP
grimsBy $469,900 391 Kerman Avenue
grimsBy $272,000 20 Cline Mountain Road
grimsBy $1,250,000 134 Olive Street
grimsBy $519,900 34 Golf Woods Drive
Prestigious 2-storey will surprise you! 2750 sqft of luxury, maple & oak hardwd flrs, large family size kitchen with granite counters & breakfast island, showcase fireplace in family room, crown moulding, shingles 3yrs new, furnace & C/Air 2yrs new, landscaped yard with pond.
3 Level side split with 20x24’ family room addition approx six years ago. Large 20x30’ detached garage and oversized lot. Awaits your renovating! Furnace has been removed but duct work still in place.
BEAUTIFUL WATERFRONT property in fantastic residential neighbourhood. 75 x 276 ft lot with updated shore protection. Features inlaw setup, nanny suite, 4+2 bedrooms, master with 6 piece ensuite, floor to ceiling windows and quick access to QEW.
Gorgeous 2+2 bedroom bungalow with main flr laundry, in desirable neighbourhood. In-law setup on lower level with private walk-out. Beautiful hardwood floors with cathedral ceilings and gas fireplace. Master bedroom has luxury ensuite and walk-in closet. Shows like a dream!
grimsBy $249,900 15 Adelaide Street
grimsBy $174,900 49 Ontario Street, Unit#14
Beamsville $239,900 4181 Fly Road
smitHville $399,900 146 Rock Street
Fantastic Investment Opportunity, Duplex within the downtown core. 2 bedrm unit on main level & 1 bedroom unit on upper level. Gross income of $1885/mth. Includes large double car garage, shingles approx 4 yrs new, and new furnace 2011. Please allow 24 Hrs for showings.
Stunning townhome! Quality finishes throughout incl. hardwd flring, kit w/breakfast bar, oversized master BR, walk-in closet, & a main floor bath. Condo fees are $290.00/month & incl. C/Air, & exterior maintenance, building insururance, hydro, parking, & water.
Character home circa 1800’s gracefully set in scenic village of Campden. This 3/4 acre lot is just minutes away from wineries, & features 3 great big bedrms, lrg country size kitchen, main flr laundry, gorgeous plank flooring, triple detached 24 x 24 ft. garage/workshop.
Outstanding & immaculate Custom built 2350 sq.ft. Facing park, loaded w/upgrades, features maple kitchen with antique finish and granite counters, gleaming hardwood flrs, porceline tile, California shutters, luxury ensuite master bedrm with French doors leading to 16x24 covered patio.
DuPleX
Sharon Stafford
Heather Reid
Sales Representative
Sales Representative
Kristina King
Sales Representative
Hans Marcellissen
Vince Lazaruk
Sales Representative
Mike McNeil
Wendy Murray-Nicholson
Sales Representative
Sales Representative
Jaclyn Ross Office Manager
Call Today 905-945-0188
Sales Representative
Rosemarie Fournier Listing Co-ordinator
MarketWatch April B 2012 14/04/12 3:00 PM Page 8
Page 8
The Golfi Team Real Estate Market Watch
April 17, 2012
Year-to-Date Statistics Based on sales data on all home sales from March 2011 vs March 2012, P R E S E N T E D
B Y
T H E
G O L F I
T E A M
REALTORS Association of Hamilton-Burlington AREA
YTD Comparison Mar 2012 / Mar 2011
Listed YTD
Expired YTD
Sold YTD
Average Selling Price
Average Days on Market
Selling % of List Price
ANCASTER (DISTRICT 42)
2012 2011
216 242
39 36
125 101
$462,674 $440,657
58 55
98% 97%
BURLINGTON (DIST. 30 to 36 & 38)
2012 2011
1088 1126
60 95
783 785
$445,834 $409,065
30 39
99% 98%
DUNDAS (DISTRICT 41)
2012 2011
105 122
16 l6
97 82
$358,967 $333,864
63 51
98% 98%
GLANBROOK (DISTRICT 53)
2012 2011
139 134
22 24
73 76
$337,184 $321,167
56 71
98% 97%
GRIMSBY (DISTRICT 54,55)
2012 2011
150 129
27 20
96 89
$322,846 $314,741
57 69
97% 98%
HAMILTON EAST (DIST. 23,24,27,28,29)
2012 2011
268 278
36 43
211 171
$194,133 $180,992
54 55
97% 97%
HAMILTON MTN (DIST. 15,16,17,18,25,26)
2012 2011
564 639
77 82
419 392
$260,590 $238,369
48 48
98% 97%
HAMILTON CTRL (DIST. 13,14,20,21,22)
2012 2011
384 433
95 109
272 250
$154,704 $151,438
55 57
97% 95%
WEST LINCOLN (DISTRICT 56, 58)
2012 2011
32 20
3 5
13 12
$331,431 $337,500
67 88
98% 95%
SMITHVILLE (DISTRICT 57)
2012 2011
25 23
8 11
11 14
$264,082 $249,636
73 116
98% 98%
STONEY CRK (DISTRICT 50,51,52)
2012 2011
349 320
57 44
245 207
$306,933 $291,429
51 59
98% 97%
Call Today 905-575-7700
MarketWatch April B 2012 14/04/12 3:00 PM Page 9
April 17, 2012
The Golfi Team Real Estate Market Watch
Page 9
Crossword Puzzle (Solution on Page 10)
289-969-6532
Across
Down
1 3 9 10 11 12 14 17 19 22
1 2 4 5 6 7 8 13 15 16 18 20 21
23 24 25
Neither good nor bad (2-2) Hindrance (8) Compile (anag) (7) Large African antelope (5) Perfectly suited (5) Supermarket sections (6) Norfolk seaside resort (5,8) Pandemonium (6) German pistol (5) Semitic people of the Middle East and North Africa (5) Antiquated (7) Conifer (4,4) Consideration in dealing with others (4)
Young trees (8) Balm — ointment (5) Educational qualification (13) North African capital (5) French country house (7) Dutch cheese (4) Charm (6) Time-saving route (5,3) Make comprehensible (7) Spite (6) Early stages (5) West African country (5) Inclined surface — swindle (4)
Basement Flood Leads to Lawsuit
If you own pets, particularly bigger dogs like these ones, you may want to check out a condo's rules before bidding to buy one.
T
his basement flood lead to a lawsuit Don and Louise Beauchamp owned a home in London, Ont., and during the six years they lived there they renovated their basement, first using it as a playroom and later as a guest room. They sold the home in November, 2007 and a week before closing in early 2008 the basement flooded. They paid $1,649 to dry out the rug and replace the underpad, but did not tell the buyers. The
Beauchamps thought this was a “one off” occurrence and since they had fixed the problem there was nothing to disclose. A few weeks after closing, the basement flooded again and it ended up costing Adam and Yogi Soboczynski, the buyers, more than $20,000. They were convinced the basement had flooded before and sued, arguing that fact should have been disclosed to them. The facts of the case are interesting. When the buyers made their offer, they
asked the Beauchamps to complete a Seller Property Information Statement (SPIS) which they did. The Beauchamps said they had never had water problems in the basement. But for some reason, the form was not attached to the accepted offer. The offer was also subject to a satisfactory home inspection, which was completed with no problems noted. An engineer hired by the Soboczynskis testified in court that flooding had probably occurred during the previous seven years, based on his review of the property. The Beauchamps brought in relatives who had stayed in the basement. All claimed there was never any indication of water problems. In addition, the Beauchamps had kept their computer in the basement for years. The offer also included a standard clause called the “Entire Agreement Clause” which says that people who sign contracts can only rely on things that are included in the agreement. If it is not included, then it means that it did not matter to them. In a decision released November 17, the judge preferred the evidence of the relatives over the expert. He agreed the flooding was a one off incident and did not have to be disclosed to the buyers. The judge looked at other cases where sellers had been held responsible when completing the SPIS. In all those cases, he noted that one of the main reasons for liability was that the SPIS form had been attached to the agreement. As a result, if the sellers were dishonest or careless in completing the SPIS and the buyers relied on it, they could be held
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responsible. In this case, the SPIS was not attached to the agreement, so the judge decided the buyers could not rely on it. Since the buyers could not prove that the sellers deliberately deceived them, the sellers won the case. The lessons from this case are: • For sellers, disclose all problems you know about. If you are not sure, err on the side of disclosure. • If you as a seller sign an SPIS, to be safe, do not permit it to be attached to the agreement. That way, you will be protected if you made a mistake in completing it. • Buyers should not rely on the SPIS because it is not supposed to be a warranty; it is just to be used for information purposes. • If something matters, always include it in your home purchase agreement. Do not rely on verbal promises or advertisements. Mark Weisleder is a lawyer, author and speaker to the real estate industry. Email Mark at mark@markweisleder.com
MarketWatch April B 2012 14/04/12 3:00 PM Page 10
Page 10
The Golfi Team Real Estate Market Watch
April 17, 2012
amoRTiZaTioN CHaRT Monthly payment per $1,000 Length of Mortgage (Amortization Period) Example $150,000 at 20yr at 3.0%: 150 x 5.54 = $831.00 /month Interest Rate (%) 5 yr
10 yr
15 yr
20 yr
25 yr
30 yr
35 yr
3.00
17.96
9.65
6.90
5.54
4.73
4.21
3.84
3.50
18.18
9.88
7.14
5.79
4.99
4.48
4.12
4.00
18.40
10.11
7.38
6.04
5.26
4.76
4.41
4.50
18.62
10.34
7.63
6.30
5.53
5.04
4.71
5.00
18.85
10.58
7.88
6.57
5.82
5.34
5.01
5.50
19.07
10.82
8.14
6.84
6.10
5.64
5.33
6.00
19.30
11.07
8.40
7.12
6.40
5.95
5.65
6.50
19.53
11.31
8.66
7.41
6.70
6.26
5.98
7.00
19.75
11.56
8.93
7.69
7.00
6.59
6.32
7.50
19.98
11.81
9.21
7.99
7.32
6.91
6.66
8.00
20.21
12.06
9.48
8.28
7.63
7.25
7.01
8.50
20.45
12.32
9.76
8.59
7.95
7.59
7.36
9.00
20.68
12.58
10.05
8.89
8.28
7.93
7.72
9.50
20.91
12.84
10.33
9.20
8.61
8.28
8.08
10.00
21.15
13.10
10.62
9.52
8.94
8.63
8.44
10.50
21.38
13.37
10.92
9.83
9.28
8.98
8.81
1092 Highway #8, Stoney Creek
11.00
21.62
13.64
11.21
10.16
9.63
9.34
9.18
905-643-9933
11.50
21.86
13.91
11.51
10.48
9.97
9.70
9.55
12.00
22.10
14.18
11.82
10.81
10.32
10.06
9.93
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MarketWatch April B 2012 14/04/12 3:00 PM Page 11
April 17, 2012
The Golfi Team Real Estate Market Watch
Page 11
MARKET MARKET
TRENDS REPORT REPORT TRENDS SPRING 2012
SPRING 2012
Newfoundland Hamilton – Burlington Newfoundland & fiLabrador as value-conscious rst-time buyers take advantage of & Surrounding Areas & Labrador attractive house prices and ideal location, given the
D
St. John’s St. John’s
Move-up buyers, empty nesters, and outemand for residential real of-town are behindMovethe push for estate is heating up in the recent announcement (addition) of apurchasers Go Station. residential real estate in Dundas, many Hamilton-Burlington area, now drawn toand the record vibrant community setting the stage for anactive spring mar-and up buyers, empty nesters, out-of-town purchasers Solid economic performance low interest because of its trendy shops, restaurants, ket. First-time and move-up buyers are are behind for residential realand estate in Dundas, rates have prompted residential sales activity and strong high-rise condominiums. Move-up expected to drivethe salespush across the board, Solid economic performance record low interest buyers from Toronto proper have grown building on the momentum of the last in St.to John’s out of the gate in 2012. Over 400 homes many now rates drawn theare vibrant because have prompted strongcommunity residential activity attracted to sales Burlington quarter of 2011. While inventory levels changed hands soincreasingly far this year, up 12.5 per centreal over estate, particularly communities abutting climbing, supply has been limited to date. of its trendy shops, restaurants, and high-rise condoin St.the John’s out of the gate in 2012. Over 400 homes same in Oakville 2011 (404 units vs. 359 units). the border. As a result, competiOverall sales are up close to seven perperiod cent changed hands so far this year, up 12.5 per cent over miniums. Move-up buyers from Toronto proper have tion has beenthat building for single-detached over one year ago, hovering 1,855 units,in confi Theatupswing dence motivated buyers en the same period in 2011 (404 units vs. 359 units). homes priced from $350,000 to $550,000, compared to 1,736 units in the first two masse attracted also resultedto in Burlington an influx of new listings coming grown increasingly real estate, with multiple offers occurring with greater months of 2011. Average price has appreThe on-stream upswing ininconfi dence that motivated buyers en January, but listings slowed in February frequencythe in recent weeks. Bidding wars ciated over five percommunities cent year-to-date, ris-abutting particularly Oakville border. also resulted in are an also infl ux of new listings coming happening entry-level ing to $347,660,masse up from $329,722 in cent). (down 12 per Overall, theonnumber ofproperhomes As a result, competition has been building for singleties in Hamilton, ranging in price from 2011. Single-detached homes remain most on-stream in January, but listings slowed in February available for sale remains up over last year and buyer’s $230,000 to $275,000. The top end of the popular with purchasers, representing detached homes priced frominmarket $350,000 tothewith $550,000, (downresidential 12 per remain cent). Overall, the number ofmomentum homes place. Yet, with sales has been solid, sales over the close to 83 per cent ofconditions sales available foroccurring sale remains up over last year buyer’s continuing into March, thepoint market may nally million-dollar price upand from one fi year activity, condominiums make upstrong the with while multiple off ers with greater frequency ago. While today’s low interest rate enviremaining 17 perconditions cent. start Affordability has remaincloser in place. Yet, also with territory the sales momentum edging to are balanced in the months in recent Bidding on ronment has been happening exceptionally conducive fuelled home weeks. buying activity in the wars continuing strong into March, the market may fi nally ahead. For now, average days on market have inched to homebuying activity—tighter lending Hamilton area where the average price isHamilton, entry-level properties in ranging in price up in tandem inventory levels, currently sitting start edging closerwith to balanced in impact the months policies mayterritory have some on the at significantly less than neighbouring market down the road. Still, Hamilton Burlington. Hamilton East has surged from $230,000 toFor $275,000. edays top end of thehave market approximately 70Th days. Sellers will need to price their ahead. now, in average on market inched offers up some of the country’s most popularity as value-conscious first-time correctly to succeed in currently the more competitive up inofproperties tandem with inventory levels, at has been solid, with sales over the million-dollar pricethe affordable inventory—and forsitting many, buyers take advantage attractive house spring marketplace. First-time continue of owning less thantotheprice cost oftheir rent- to prices and ideal location, given the recent approximately 70 days.cost Sellers willispurchasers need ing.the ripple effect has also bolstered announcement (addition)lead of athe Go Station. charge, but
properties correctly to succeed in the more competitive themarketplace. move-up segment. Thepurchasers city’s average price to rose spring First-time continue cent but to $278,893, $253,879 one year lead 10 theper charge, the rippleup efffrom ect has also bolstered ago, and atsegment. this rate,The maycity’s well top $300,000 short the move-up average priceinrose order. Exceptional price appreciation has undeniably 10 per cent to $278,893, up from $253,879 one year pulled up by the higher cost of new construction. ago, been and at this rate, may well top $300,000 in short It’s estimated that real prices have increased more order. Exceptional price appreciation has undeniably moderately, based on comparables, and appreciation in been pulled up by the higher cost of new Unit construction. the neighbourhood of five to six per cent is aSales realistic MarketIt’s estimated that real prices have increased more YTD 2011 2012 projection for 2012. Demand remains veryYTD strong for moderately, based on comparables, and appreciation in entry-level product, especially if priced in the $200,000 359 St. John’sthe neighbourhood of five to six per centareis occurring a realistic 404 to $275,000 range. Multiple offers in projection for 2012. Demand remains 174very strong for 209 Saint John entry-level product, especially if priced 663in the $200,000 896 Halifax-Dartmouth to $275,000 range. offers are occurring in Market TrendsMultiple Report Sprint 2012 1,088 979 London-St. Thomas 830 869 Kitchener-Waterloo Market Trends Report Sprint 2012 1,855 1,736 Hamilton-Burlington 11,504 10,257 Greater Toronto Area 1,693 1,617 Ottawa 1,343 1,345 Winnipeg 455 392 Regina 574 475 Saskatoon 2,806 2,707 Calgary 2,189 1,978 Edmonton 4,142 4,921 Greater Vancouver Area 775 723 Victoria
point up from one year ago. While today’s low interest rate environment has been exceptionally conducive to homebuying activity—tighter lending policies may have some impact on the market down the road. Still, Hamilton offers up some of the country’s most affordable inventory—and for many, the cost of owning is less than the cost of renting.
Greater Toronto Area The residential real estate market in the Greater Toronto Area continues to fire on all cylinders in 2012, fuelled by low interest rates, strong demand and a shortage of available inventory. Approximately 11,504 properties changed hands in the first two months of R the year, up 12 per cent over 2011 levels, extending the R
areas on homes that are priced under $200,000. SPRING MARKETsome TRENDS REPORT There has been an increase in buyers looking to properties that offer basement apartments to offset carrying costs. some areas on homes thatFEBRUARY are priced under $200,000. RESIDENTIAL STATISTICS (JANUARY 1 – 29) Condominiums are also gaining greater momentum, as There has been an increase in buyers looking to properties R
R
R
prices track upward and the population ages. A growthat offer basement apartments to offset carrying costs. Average Price ing number of long-time homeowners are opting to Condominiums are also gaining greater momentum, as YTD 2012 %+ YTD single-family 2011 trade in/-their larger, homes, purchase % +/prices track upward and the population ages. A growlow-maintenance condominiums and establish a solid 10 $278,893 $253,879 12.5 ingnest number long-time homeowners opting to egg forofretirement. Developers are are more in tune trade in 20 their larger,$177,744 single-family homes, purchase 0.5 $178,594 low-maintenance condominiums and establish a solid 2 $263,001 $257,370 35 nest egg for retirement. Developers are more in tune 1 2 $230,624 $226,709 11 9 $311,457 $284,740 -4.5 51 $347,660 $329,722 7 10 $487,254 $442,978 12 4 $349,791 $335,716 5 10 $241,115 $219,450 -0.2 6 $290,006 $274,676 16 6 $318,163 $300,110 21 0.4 $412,300 $410,851 4 4 $325,041 $311,307 11 0.1 $786,695 $786,233 -16 -1 $469,399 $475,640 7
Source: Local Real Estate Boards, RE/MAX
R
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Market Trends Report Sprint 2012
5
MarketWatch April B 2012 14/04/12 3:00 PM Page 12
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