Jan 1, 2012 Issue 39

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January 2012 - Vol 35

P R E S E N T E D

B Y

T H E

Wishing Everyone Rob Rob Golfi Golfi Sales Sales Representative Representative

a Happy New Year

HOME EVALUATION NO COST • NO OBLIGATION

905-575-7700 • 905-945-0188

G O L F I

T E A M

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The Golfi Team Real Estate Market Watch

Crossword Puzzle

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

January 2012

(Solution on Page 9)

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

CLUES ACROSS 1 Reveal unwelcome secrets (about) (4,3,3,3) 8 Game dog, used for its ability to scent (7) 9 Capable of being corrupted (5) 10 Bound (4) 11 N French city with a distinctive Gothic cathedral (8) 13 Very slow (6) 14 Small foot-powered pleasure boat (6) 17 Not suitable as food (8) 19 Unsweetened; very dry (4) 21 Fertilizer from the waste of seabirds (5) 22 Mosquito-transmitted disease (7) 24 Protected from danger (3,2,5,3)

CLUES ACROSS 1 Brink (3) 2 Flat broad limb of aquatic animals (7) 3 Wield or carry something heavy (4) 4 Coarse (6) 5 Upside-down (8) 6 Proprietor (5) 7 Fail (4,5) 10 Making redundant (7,2) 12 Develop a good friendly relationship (3,2,3) 15 Rice war? (anag) (7) 16 Female former pupil (6) 18 Strictly correct (5) 20 Burrowing marine mollusc living in sand or mud (4) 23 One, some, every or all without specification (3)

SUDOKU 9

3 2 8

1

6 7 3 4 7 3 4

6

8 1 2

5

7

4

2

5 4

3

6 7

3

7 4 1

8 2 4

1 8 5

9

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.

“I think the seller will accept your offer, but the Real Estate Board will never approve that shirt.”

www. GolfiTeam .com

7

4

9

1

2

5

8

2

6

7

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3

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1

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6 8 3 5 1 9 4 2 7

1 2 9 4 8 6 7 5 3

8 3 6 9 5 7 1 4 2

5 4 7 3 2 1 9 6 8

3 5 4 1 9 2 8 7 6

2 7 1 6 3 8 5 9 4

9 6 8 7 4 5 2 3 1

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December 2011

The Golfi Team Real Estate Market Watch

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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.

LOOK WHAT WE'VE SOLD! T LIS F O 8% 9 FOR D L SO

33 N I D SOL

S DAY

D SOL

AYS D 4 IN 4

ER Y U HB S A C MY O DT L O S

Hamilton East $109,900 90 Hope Avenue

Hamilton $349,900 15 Pinehurst Drive

stonEy CrEEk $324,900 6 Darrow Drive

Grimsby $379,900 442 Main Street

Renovated 2 bedroom bungalow w/great hwy access. Double rear drive, all appliances included.

Immediate possession available. Basement waterproofing 25 year transferable warranty, updates includes flooring, bathroom and front porch. Get inside! Call 905-575-7700 today.

Fantastic family home in mature East Mountain Brow area. Features open concept living space w/large principle rooms, gourmet kitchen w/top of the line upgrades, lots of living space, a library(w/walk-out), family room, living room, rec room, hrdwd & ceramic flrs, & a 60ft park like yard.

Great sought after location in Stoney Creek.

Hardwood in living and dining rooms, big eat in kitchen, huge family room with a gas fireplace over garage, concrete double drive, walkway and patio. Separate dining room, fully finished bsmt with extra kitchen. Call 905-575-7700 today.

Character home set along Grimsby’s tree lined street. Features new kitchen, updated baths, new furnace c/air & water heater, new shingles & plywood 2002, all vinyl windows, hardwd under all broadloom, 2 storey garage 45x26 ft w/finished loft above with furnace & bathrm.

AYS D 1 N1

IST I

FL O % 8 OR 9 F D SOL

Grimsby $299,900 14 Marlow Avenue Custom-built 3 bedrm bungalow, open & inviting floor plan w/gorgeous hardwood, spacious kitchen w/breakfast bar and sliding doors leading out private fenced back yard, large master bedrm w/ensuite and double garage with 4-car drive.

Near schools, parks and quick access to QEW.

AYS D 37 N I D SOL Grimsby

GET YOUR HOME SOLD TODAY! 905-575-7700 OF % 9 9 OR F D SOL

$349,900

T LIS

LIST F O % R 98 O F SOLD

IN

AYS 32 D

D SOL

AYS D 5 IN 1

Grimsby $399,900 28 Sumner Crescent Awesome 4 bedroom home features slate & brazilian cherry floors, custom cherry kitchen cabinets, custom drapery, professionally finished basement, new central air and furnace, new liner & pool pump '08, hot tub, mostly vinyl windows.

WATERFRONT

R UYE B H CAS Y OM T D SOL

3 Hewitt Drive

stonEy CrEEk $399,900 35 Riviera Ridge

stonEy CrEEk $299,900 1323 Baseline Road

Grimsby $1,050,000 238 North Service Road

Escarpment views! Features beautiful maple kitchen w/granite island & breakfast bar, hardwood & ceramics throughout, great room w/cathedral ceilings & gas fireplace, incredible open concept floor plan, fenced yard, & a high energy efficient home.

4+1 bdrm in prestigious loc’n! Fresh paint & crown mouldings. Plus porcelain tile, kulm hrdwd, main flr. den, lrg eat-in kit, livin rm, sep. dining rm & main flr. laun. New shingles (08) & undergrnd sprinkler system. Call 905-575-7700 today.

Beautiful 3 BR brick bungalow! Oak kitchen cabinets, open concept kit. overlooking LR & DR, circular oak staircase, Mbed w/4 pc ensuite & walkout, spacious bedrms, concrete walkways & patio, fully fenced private yard, rough-in central vac & close to Fifty Point Conservation.

Custom built 2-storey waterfront property with stunning Lakeviews! Gorgeous hardwood floors, master bedroom with walk out to balcony & gas fireplace w/rich hotel style ensuite, soaring 10ft ceilings, large designer kitchen w/granite, great big windows. Shows like a dream.

Call Today 905-575-7700

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The Golfi Team Real Estate Market Watch

January 2012

Hamilton & Stoney Creek Rob Golfi*

stonEy CrEEk $349,900 29 Peachwood Crescent

Hamilton $1,900/montH 87 Mountain Park Avenue

Hamilton $149,900 101 Cope Street

Hamilton $104,500 18 Francis Street

Immaculate 4+1 bedroom home in sought after Stoney Creek neighborhood. This 2,060 SqFt home features open concept layout, 4+1 bedrooms, ensuite and walk-in off master bedroom, separate dining room, hardwood in living room, fully finished basement.

Lease property. Prime Location on Mountain Brow over looking the city with amazing views.

Close to hospitals, public transit, highways and all amenities. Credit Check, Rental application required for all offers, tenants pay all utilities.

One year lease required. Easy to show.

BIG 1.5 STORY on a great street in the East end of Hamilton. Old world charm, big front porch, wide driveway, good size garage and backyard, mud room in the back for storage or play area. Walk to school and major bus line, shopping nearby. Hardwood under carpet in big living and dining room. Basemt laundry and storage. Quick closing.

Big home w/loads of updates, great private yard w/concrete patio, big fully fenced garden with shed, room for a big RV & 3 car parking. Home shows great. Close to General hospital. 100 amp breakers, new shingles in 2009 (stripped), new windows, siding, furnace and central air in 2008.

Hamilton $379,900 23 Vineberg Drive

stonEy CrEEk $419,900 35 Ivybridge Drive

stonEy CrEEk $519,900 21 Watercliff Place

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.

2400 sq ft. home overflowing w/upgrades incl. 9 ft ceilings, hardwood flrs, loaded kitchen w/granite counter tops, formal dining rm, slate floors, crown moulding, spiral staircase, showcase gas fireplace, 4 large sunny bedrms, rich hotel style ensuite bath, main floor den, bedrm level laundry, backing onto green space with pond.

Stunning 4 bedroom Lake Pointe home steps from the lake and near 50 Point Marina. Large formal living & dining room, eat-in kitchen with granite counters. Master has and his/hers closets & spalike master bath with soaker tub. Patio doors lead to deck with gazebo and large backyard.

Hamilton $119,900 64 Edgemont Street North

stonEy CrEEk $279,900 194 Millen Road

Amazing value in this 3 bedrm bungalow!

Features incl. laundry on main floor, 1 bath, an unspoiled basement, side parking & great front porch. Huge fully fenced yard w/on-ground pool surrounded by deck & gardens. School is within walking distance. A great family neighbourhood.

Old world charm w/modern conveniences.

Beautifully renovated 2-storey with maple hardwood & ceramics on main flr. Family-sized maple kitchen w/tumbled marble backsplash & pot lighting. Large Master w/rich hotel style ensuite & W/I closet. Fresh paint, vinyl windws.

if you want it

SOLD Call Rob Golfi 905-575-7700 or visit

www.RobGolfi.com

stonEy CrEEk $189,900 518-500 Green Road 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.

Hamilton $339,900 202 Winston Place Walk to Mac!! All brick 3+3 bedroom home!

Newer shingles, new windows, Hi eff furnace & C/Air (07), oversized water heater (05), newer plumbing & water line. Bsmt waterproofed, smoke detectors handwired, Ethernet/cable in all rooms! $2100 income per month tenants pay utilities.

stonEy CrEEk $299,900 326 Jones Road

stonEy CrEEk $299,900 121 King Street East

Hamilton East $199,200 34 Barons Avenue

stonEy CrEEk $214,900 1026 Highway #8

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!

Bring your tool belt and make this your dream home! Fantastic opportunity on large L-shaped 77.83 x 142.60 foot lot! 1.5 Storey all brick home with partially finished basement. Close to all amenities walking distance to downtown Stoney Creek. Make an offer!

3 or 4 bedroom home w/highway access, schools & shopping nearby. Loads of updates, some newer windows, roof 2011, furnace & tank 1998, main bath remodelled & new bath in basement.

Fully fenced yard w/gate at driveway. Rear patio & big shed.

Big bungalow in Stoney Creek on the Winona border! Country living minutes to Eastgate Mall & easy hwy access. Big bright rooms & updated furnace, c/air & windows, 2 car parking, big front deck, easy care lawn & landscaping, great value, & fantastic neighbours! Call 905-575-7700.

Hamilton Ctr $79,900 11 Keith Street

Hamilton East $95,900 399 Fairfield Avenue

stonEy CrEEk mtn $279,000 129 Slinger Avenue

Hamilton mtn $324,900 65 Princeton Drive

3 bedroom Semi! Granite cunters & floors, crown molding, 100 amp breakers, finished basement, roof 2010. Main floor has open concept eat-in kitchen, dining room and living room. Upstairs has 3 spacious bedrooms and a full bathroom. Great family home!

Spacious 1 BR bungalow! Incl updated kitchen w/lots of counter space, fenced yard, new roof shingles & high efficiency furnace (gas on equal billing $66.00 month!), 100amp on breakers, big rear deck w/awning, A/C, big bathrm & lots of storage in bsmt. Can be 2 BR if needed. Shows great!

Charming raised ranch. Beautifully landscaped, ideal for growing family. Features new stylish kitchen with pantry & breakfast bar, hardwd flrs in front room & hallway. Enjoy lounging in the fully finished basment w/bedroom & bathroom.

Close to amenities & schools.Call 905-575-7700.

This all brick oversized 4 level back split in fantastic Sherwood heights neighborhood is available for immediate possession! Features updated vinyl windows, updated shingles, beautiful hardwood & ceramic flrs, second kitchen in lower lvl, great in-law potential, sun-rm, & fence yard.

Call Today 905-575-7700

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January 2012

The Golfi Team Real Estate Market Watch

Page 5

Grimsby, Lincoln & West Lincoln Area

Rob Golfi*

smitHVillE $274,900 8 Cherry Avenue

Grimsby $268,500 101 Magnolia Crescent

bEamsVillE $236,900 5137 Connor Drive

bEamsVillE $249,900 5143 Connor Drive

5 years new! Raised ranch in fantastic neighbourhood. Features 1142 sqft of open concept space.Gas fireplace in living room, large bright bedrooms. 13' X 25' concrete patio in fenced in back yard. Call the Golfi Team today for a private viewing.

End unit townhouse in fantastic area. Features new painted maple kitchen w/glass backsplash, new hardwood in LR/DR. Finished basement w/built-in for media center. Centrally located close to shopping, parks, hwy access.

2 Storey freehold town home 1386 sq.ft. Similar to be built. Features includes great sized BRs w/3pc ensuite & walk in closet off master, kit w/breakfast area overlooking family room, available for 60 day possession, access from garage to rear yard, & min to all amenities.

Fabulous end unit freehold Bungalow 1110 sqft avail. for 60-90 day closing. Come & visit our model home & wowed on this Energy Guide & Tested home. Incl. great size BRs w/4pc ensuite off master, kitchen area overlooking family rm, attached to neighbouring unit at the garage only.

Grimsby $324,900 24 Red Haven Drive

Grimsby $276,900 5 Bayview Drive

bEamsVillE $339,900 4092 Mountain Street

Grimsby $329,500 6 Brentwood Road

Bright and Airy. Lovely one floor semi in a stylish neighbourhood. This home features a lovely eat-in kitchen, spacious living rm/dining rm w/ open staircase to finished basement complete w/ large fin recroom and extra bedrm

Great Value! 3 bedrm, 2 storey home updated w/ furnace/ac & kitchen complete w/new cabinetry counters & flooring(2011), concrete drive & patio door & basement windows(2010). Master bedrm w/ensuite & partially fin basemnt.

Want quality, this house is for you! This one flr plan incl. $20,000 in extras, California knock down ceilings, rounded corners, 120 sq.ft. of hrdwd flrs, upgraded trim package, maple kit, asphalt drv & much more! Approx 1445 sq.ft. similar to be built.

Better than new! This completely updated 3 level sidesplit has everything. Hardwood throughout, new maple kitchen, updated furnace & C/A, all updated vinyl windows and doors. Beautifully decorated. 12'x30' garage. Close to town on quiet cul-de-sac. Call today!

Grimsby $249,900 41 Kenyon Crescent

VinElanD $310,000 3380 Dustan Street Lakefront community living in comfort and style.

This 2 bedroom bungalow features relaxing front porch, 9ft ceilings, 2 full bathrooms, central air conditioning, spacious deck off of kitchen, main floor laundry. Homeowner Assoc. fee $30/mo for use of waterfront clubhouse and beach.

Home evaluation No Cost or Obligation

Grimsby $176,900 125 Livingston Avenue

Call the Golfi team today!

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.

905-575-7700

Fabulous freehold end unit townhouse! Open concept main flr w/kitchen, dinette & living rm.

Patio door overlooks fenced yard & a 2-tiered wooden deck. Lrg master w/full wall closet, plus 2 extra large bedrooms & a 4pc bath. Finished Rec rm w/2pc bath & area for a home office/bar.

st CatHarinEs $394,000 40 Glenridge Avenue

Grimsby $369,900 519 Ridge Road East

bEamsVillE $749,900 4816 Mountainview Road North

WEst linColn $328,500 9407 Silver Street

Stylish Old Glenridge Living. This stunning 1-1/2 storey beauty provides the classic beauty of its age and the updates you would expect.

This 3 bedroom home oozes character from the moment your drive up!

1.37 acres on escarpment ravine near Bruce Trail! Features geothermal system Jan ’10, insulated roof, newer windows, amazing low energy costs, large 2.5 car garage, large deck w/above ground solar heated pool, and charming cedar-sided home with large eat-in kitchen.

2 storey, 3000 sq.ft. on 6.75 acre hobby farm!

Upgrades incl new hardwd, new kitchen w/granite, new carpeting w/up-graded under pad, Mbed rm w/luxury ensuite, 3 season sunrm, gas FP, new c/air & furnace, updated shingles, 2 storage out buildings, & quick access to QEW.

Amazing updated home on 100 x 200 ft lot, built in 1953, has an open concept living room/dining room with hardwood floors, huge master suite, New high efficiency gas furnance/CA, updated main bath, entry doors, & water conditioner.

Bonus room over the garage.

Call Today 905-945-0188

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Home evaluation No Cost or Obligation

Call Rob Golfi today!

905-575-7700 / 905-945-0188

MenusOnly.com is an online restaurant menu guide connecting you with great restaurants in the Hamilton and Burlington areas.

Browse through restaurant menus, view pictures of restaurant dining areas, patios, and menu items, and print local restaurant coupons all in one place. MenusOnly.com – a perfect dining experience starts here.

Maximum Exposure Sells Your Home Call the Golfi Team to get your Home Sold

BONDSEAL CANADA

905-575-7700 905-945-0188

The Waterproofing Specialists

Specializing in Concrete Crack Repairs: Dry, Seeping or Gushing All Methods InterExterior

John Walker

www.golfiteam.com

www.bondseal.com bondsealcanada@yahoo.ca

The Golfi Team is ranked in the Top 100 Re/max Teams in Canada.

1.888.808.7595

Sharon Stafford Sales Representative

Ashley Sidler

Sales Representative

Rob Golfi

Sales Representative

Heather Reid

Hans Marcellissen

Wendy Murray-Nicholson

Mike McNeil

Jaclyn Ross

Rosemarie Fournier

Sales Representative

Sales Representative

Sales Representative

Office Manager

Sales Representative

Listing Co-ordinator

Together… Delivering More!

www.golfiteam.com

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January 2012

The Golfi Team Real Estate Market Watch

Page 7

HISTORY CHART 1955-2011

YEAR 1955 1956 1957 1958 1959 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Residential & Condominium, Farm, Vacant Land, & Business, Hamilton, Burlington & Surrounding Area NUMBER OF NUMBER OF TOTAL DOLLAR HOMES LISTED HOMES SOLD VOLUME 6,412 8,606 8,755 9,694 9,296 9,114 10,230 10,205 8,582 8,531 8,671 9,322 10,143 11,094 11,578 12,603 12,072 11,918 11,070 13,511 16,382 18,712 20,355 20,986 19,676 21,376 20,515 20,798 20,792 21,760 20,983 20,675 25,571 26,785 28,318 36,238 36,187 32,767 29,835 27,716 25,887 22,999 21,518 21,273 19,135 22,550 21,366 17,811 18,518 19,089 18,695 19,283 19,570 19,699 17,998 20,279 20,195

2,552 3,790 3,773 3,426 3,403 3,037 3,063 3,100 3,330 3,759 4,599 5,114 5,522 5,665 5,326 4,304 5,229 5,821 6,210 5,941 7,841 6,251 6,769 6,424 6,834 6,699 7,126 6,466 8,844 9,131 11,396 12,286 11,392 13,810 12,439 7,745 8,350 9,049 8,199 8,817 8,185 10,784 10,612 10,654 11,206 10,941 11,896 13,154 13,478 13,817 13,955 13,640 14,411 12,445 13,160 13,440 14,407

$25,933,747 $40,769,888 $43,928,799 $41,636,856 $43,067,075 $39,304,822 $39,166,153 $39,720,500 $44,306,337 $53,532,765 $69,589,274 $86,964,089 $107,322,067 $123,308,631 $124,461,396 $104,857,879 $129,458,870 $159,695,737 $208,752,098 $252,660,101 $356,962,723 $313,942,966 $349,660,825 $348,288,666 $385,131,691 $398,041,113 $445,511,231 $404,899,847 $588,979,771 $620,175,677 $886,362,255 $1,136,344,284 $1,331,338,599 $1,900,870,640 $2,095,459,068 $1,299,341,482 $1,356,979,854 $1,370,502,738 $1,185,126,368 $1,302,315,456 $1,173,098,098 $1,554,507,479 $1,648,968,336 $1,662,251,354 $1,785,365,893 $1,805,188,967 $2,055,999,217 $2,422,547,269 $2,707,081,423 $3,011,698,424 $3,297,817,699 $3,441,982,496 $3,932,171,748 $3,577,212,595 $3,872,206,935 $4,226,894,801 $4,853,013,142

Call Today 905-575-7700

AVERAGE SELLING PRICE $10,162 $10,757 $11,643 $12,153 $12,656 $12,942 $12,787 $12,813 $13,305 $14,241 $15,131 $17,005 $19,435 $21,767 $23,369 $24,363 $24,758 $27,434 $33,615 $42,528 $45,525 $50,223 $51,656 $54,217 $56,355 $59,418 $62,519 $62,619 $66,597 $67,920 $77,778 $92,490 $116,866 $137,644 $168,458 $167,765 $162,512 $151,453 $144,545 $147,705 $143,322 $144,149 $155,387 $156,021 $159,322 $164,993 $172,831 $184,168 $200,851 $217,970 $236,318 $252,345 $272,859 $287,440 $294,241 $314,501 $336,851

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Page 8

The Golfi Team Real Estate Market Watch

January 2012

What Happens To My House After Filing Bankruptcy?

T

he following article addresses the commonly asked what will happen to my house in bankruptcy question.

We all dream of home ownership.

But what happens when the Canadian dream of owning your own home does not work out as well as expected?

It costs a lot of money to own a home. You have mortgage payments and property taxes. Your gas and electricity bill will be higher than when you lived in an apartment, because your house is bigger.

Of course everyone wants furniture for their bigger house, and that costs money. Unfortunately many Canadians buy a new home and then go to a furniture store that offers a “buy now, pay later deal”. It sounds great: I get my furniture today, and I don’t have to pay for it for a year. It’s great until next year comes, and now you’re faced with a huge bill for furniture that you can’t afford.

If when the furniture bills comes in you have also lost your job, or perhaps

had your hours cut at work, you now have a problem.

For many people the only solution may be a personal bankruptcy.

What will happen to your house in case of bankruptcy?

While the laws are slightly different in each province, the basic concept is the same. You can’t keep a house in bankruptcy if you have a lot of equity in it at the time when you go bankrupt. (You can calculate your home’s equity by subtracting the mortgage and property taxes owing from the value of your house).

Obviously it’s not fair to your creditors that you keep money while their debts are being discharged.

If your house has little or no equity, you can usually make an arrangement with the mortgage company to keep paying your mortgage, and keep your house after filing bankruptcy.

If your house has substantial equity, your trustee will either seize your house and sell it, or make arrangements with you to repay your equity (perhaps by you

borrowing from friends or family, or getting a second mortgage to re-purchase the equity from the trustee).

The rules regarding houses and bankruptcy are somewhat complicated,

so to find out how they will apply in your specific situation and for details on what will happen with your house after filing bankruptcy, we recommend you to contact a bankruptcy trustee.

Visit our Website!

View any of the listings in this publication at

www.GolfiTeam.com Extra pictures, More details Check it out!

Call Today 905-575-7700

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January 2012

The Golfi Team Real Estate Market Watch

Page 9

Surrey BC Tops Real Estate Investment List

I

nvest in Surrey real estate and you won’t go wrong, according to Real Estate Investment Network (REIN) president Don Campbell.

“Outside Vancouver, the economies are pretty darn strong,” says Mr. Campbell, the outspoken president of REIN and author of Real Estate Investing in Canada.

REIN recently released its list of the top investment towns in B.C., based on its constant region-byregion study of the market. For the third year in a row, Surrey tops the list of best investment towns in B.C. Surrey is followed by Maple Ridge/Pitt Meadows, Kamloops, Abbotsford, Dawson Creek, Fort St. John, Kelowna, Comox Valley, Penticton and Prince George round out the top 10. Vancouver is at No. 11.

Overall, the report is a positive outlook for British Columbians.

Contrary to naysayer reports, he says the economy in B.C. is strong, and the future looks brighter than media reports would have residents believe.

“From a job perspective, we have more people working now than before the recession. Jobs have shifted geographically – they have really shifted out west ... so it’s pretty good, yeah.”

Surrey’s top dog place on the list – and No. 4 on REIN’s best investment towns in Canada list – is testament to its public image makeover.

It used to be that Surrey had a tarnished image, mostly because of its high crime rate.

“I grew up in Whalley, and it was dramatically different when I grew up in the 70s and early 80s than it is now, that’s for sure,” says Shaun Greffard, Surrey’s general manager of investment and intergovernmental relations. “There have been some fundamental shifts.”

REIN operates out of Abbotsford, with a membership of more than 3,000 investors across Canada who own nearly 30,000 properties across Canada. They travel to various towns each year to determine which regions are most investment-worthy. Let’s just say that their cavalcade of tour buses is usually the talk of the town.

Once a year, members converge on a town, stay at a hotel and travel by buses to look at infrastructure, schools, libraries, arts and culture venues, trail systems, housing, industrial parks – whatever features help them decide where to put their money. They also meet with mayors and economic development officers to determine if the local government is going to ensure better highways, bridges, rapid transit and downtown development. The criteria to be investment-worthy include the potential for jobs, gross domestic product growth, income growth and population growth. They are not looking for housing booms. In fact, if a region is enjoying a housing

boom but without GDP job growth, then that boom is most likely a bubble that is bound to burst.

“If you don’t have GDP and job growth on a consistent basis, and the real estate market continues to move up, you are going to see an inevitable correction,” says Mr. Campbell.

What you want is a real estate market, not a speculative bubble. A real estate market involves new population growth and people who typically rent for three to five years before buying. REIN investors are looking for regions where that growth is about to happen, and they purchase properties on the upswing of that growth, which is about a five-year plan. For example, it takes time for vacancy rates to drop, after more people have moved in. Then renters will typically become homeowners.

“I’m trying to identify longterm markets,” says Mr. Campbell.

“It’s not like stock investing, where you can get in and out. You want your money to go where the people are going to go.

“For example, the immigration into Edmonton, Calgary and Saskatoon is unbelievable. But people say, ‘the real estate market there is flat.’ That’s the point. You see population growth first, then the vacancy rate goes down, and 18 months later, after population grows, then you see the upward pressure on real estate. It’s incredibly predictable. This is the underlying economic analysis.”

With a reduced crime rate and better image, Surrey is becoming recognized as an affordable, central metropolis that is a major draw for young families. About one third of its 500,000 residents are under 19.

The region has boosted its population with jobs and the lowest residential taxes in the region, generous housing stock, and its development of a transit-focused commercial core called City Centre. It’s possible to buy a condo in Surrey for $150,000, which is a rarity in Vancouver. As a result, Surrey grows by 800 to 1,000 people per month. As well, it has the highest birthrate in B.C., with about 400 babies born every month.

“There’s the opportunity for individuals to get into the real estate market in Surrey – where that might not be the case in other areas where it’s less affordable, like Vancouver or West Vancouver, and even Burnaby and Richmond,” says Mr. Greffard. “Not to say prices haven’t appreciated, because they have in Surrey, but there is more volume coming onto the market. And with the City Centre development, there is higher density development going on.”

Maple Ridge and Pitt Meadows are second on the list because that region too is currently affordable, and also set for major growth due to the new Golden Ears Bridge. Maple Ridge, which has a population of about 76,000, has also spent a lot of money developing its downtown core. Pitt Meadows is much smaller, with around 18,000 residents.

“I think we’ve spent over $100 million over the last 10 years,” says former Maple Ridge councilor Craig Spiers. “We’ve given incentives on downtown development, and the uptake has been incredible.

“And we’ve had $1.2 billion worth of bridges built to connect our communities.”

Mr. Spiers said he worries about growth cutting into farmland that’s part of the Agricultural Land Reserve, which would make the bucolic region less desirable.

“You don’t want to make the shortterm mistakes that produced Surrey.

They realized their mistake, and they are coming back. They are doing a great job, but it’s been difficult.”

By Kerry Gold Surrey, BC - Globe and Mail

Crossword Solution

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The Golfi Team Real Estate Market Watch

January 2012

Bump Up Your Credit Score

C

redit score in not just a number obtained through the statistical analysis of your credit report. It is an efficient, reliable, unprejudiced and reasonable underwriting tool that helps the mortgage lender to evaluate your credit worthiness. In other words, it helps them to ascertain the amount of loan that you will be able to pay back in a timely manner. Thus, by improving your score, you can boost up your chances of getting a mortgage home loan at a better rate of interest. Here are a few realistic ways of improving your score.

• Pay your bills before the due date – The payment history in your credit report shouldn’t bear any negative marks because these black points remain on the report for no less than 7 years. For an excellent payment history, pay all your bills before the last date. If you don’t pay the bill for more than 30 days, a negative mark will

automatically come up on the report.

• Don’t sit upon your debt load – If you are already bearing a huge debt load on your shoulders, then it is important for you to reduce it without delay. By adding to the load, your debt will simply become unmanageable, and in the long run, it would adversely affect your credit score.

• Maintain your old accounts – The chief benefit of a long credit history is that it increases your credit utilization ratio. Hence, it is essential to maintain your old accounts. At times, it is unusually difficult to manage numerous accounts simultaneously. However, if you are able to do this, your credit score would swell up exorbitantly.

• Avoid using more than 20% of the available credit – By utilizing only 20% of your credit limit, you can increase your score dramatically.

The best way to make this possible is to wind up the debt backload before taking up a new loan. All your efforts to stick to the 20% limit will leave a positive effect on your credit report.

• Keep your credit report spick and span – Inconsistencies and errors on the credit report serve to ruin your credibility as well as your score. Hence, they should not only be detected at the earliest, but should also be rooted out. If you are unable to track down the errors, then you can engage a credit report management company to get the discrepancies removed as quickly as possible.

• Be vigilant while opening new accounts – In a bid to allure customers like you, credit card companies provide countless irresistible offers and discounts.

Instead of grabbing each one of them, do a bit of research to find out the best available option. This

is important because each credit enquiry would serve to knock down your score.

Experian, Equifax are two major credit bureaus in the Canada. that have the reputation of calculating the credit score accurately. The first thing that you should do is to get your score calculated. Thereafter, follow the above mentioned tips ardently to improve it. In a short period of time, the positive results will start appearing on your credit report. -

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January 2012

The Golfi Team Real Estate Market Watch

Page 11

Break out of the mould: Watch for mould and water damage in homes

I

t’s a scenario all everyone dreads while viewing the home of their dreams. Every room is better than the last and you're falling in love with the place, when suddenly you recoil in horror and beat a hasty path to the door. The culprit? The harsh spectre of mould.

Homebuyers often have concerns about mould, but are their fears justified?

What do you need to know to protect yourself? What is your REALTOR'S® obligation.

Although thousands of types of mould exist, only a few are actually harmful to people. Toxic varieties, such as moulds from the genus Stachybotrys, can produce chemicals linked to various health problems including sinus infections, asthma and certain respiratory infections. However, mould must generally be present in large quantities to have a noticeable effect on most people.

Mould eats wood cellulose and can potentially affect the structural integrity of wood. Some insurance companies have excluded mould damage from both first party and third party coverage.

Property owners may be able to obtain costly site-specific environmental insurance that specifically includes mould coverage.

Mould is caused by water damage or excessive humidity, poor ventilation systems, wet construction materials or poor construction or design. Mould travels on air currents and is all around us, and so it is difficult to find a house that is completely mould-free.

The smell should be the first red flag.

Beware of a home that has been nicely renovated and freshly painted but the smell is bad! There may be a musty, mouldy smell, that plug-ins and potpourri are trying to cover up.

Use common sense. During a home inspection, the inspector cannot open walls. Therefore, you may need to rely on your sense of smell. If moisture damage has built up in the basement over the years, the smell will reveal it right away, regardless of how nice it looks. Don’t let someone convince you that it’s not a big deal, because it can be. Until someone owns the home and can rip the walls down, they won’t know the severity of the problem.

Sellers may need to spend some money if there’s mould in their home. It can't simply be "glossed over". It may only be a minor issue involving a lack of circulation in the basement, or it could be a serious case of black mould coming through the drywall or baseboard, which probably needs to be ripped out. You can’t just wipe it off. Either way, the issue

causing the mould must be solved and the area has to dry out.

A REALTOR® should be able to identify signs of water damage or moisture problems when listing your home and, if needed, advise you to obtain services from a home inspector or other professional.

When viewing properties, be sure to inspect moisture-prone areas such as basements, bathrooms and kitchen cupboards. Mould behind a wall or under wallpaper will not be visible to you, but signs of mould include: • discolouration on finishes • staining • spotty patterns revealing visible mould growth (which may indicate a larger, unseen problem)

• musty smells.

Mould issues can usually be resolved. The moisture or water source needs to be located and stopped, and then the mould needs to be removed. If the problem turns out to be widespread and remediation is necessary, it’s important to ensure that the entire problem area is remediated, otherwise the mould infestation could return.

A proper home inspection may uncover indications of mould or structural deficiency issues, although there is no guarantee that it will. However, an inspector cannot speak to chemical contamination or health risks. The inspector may recommend that the homeowner enlist the services of a mould investigator or “sick house” consultant.

Disclosure of any information that might affect either the decision to buy a property or the value of a property is always the best policy. Your REALTOR® should recommend that a selleer disclose any and all defects and recommend a home inspection for buyers.

REALTORS® should advise sellers to disclose upfront any water problems or the presence of mould, including cases that may render the premises harmful and/or unfit for habitation. If you are in any doubt, seek legal counsel. The best advice for buyers is to beware. If buyers or sellers have any concerns about any aspects of mould, they should consult with lawyers, home inspectors and insurers.

-

Canadian home prices beginning to stabilize after buoyant period: Scotiabank The Canadian Press

T

ORONTO Canadian housing prices have been going up this year but are showing signs of levelling off, according to a Scotiabank real estate report.

The report looked at real estate markets in 10 developed economies and found Canada was the top performer in the third quarter in terms of inflation-adjusted price increases.

Canadian home prices were up 4.8 per cent. By contrast, home prices in the United States were down 7.5 per cent compared with the third quarter of 2010.

Only two other countries — France and Switzerland — showed increases in housing prices in the quarter while there were declines in the seven other markets tracked.

Scotiabank says home prices have been weighed down in many countries by the slow pace of economic recovery, concerns about government debt levels, weak consumer confidence and high unemployment.

In the United States, where there is a lingering oversupply of unsold and foreclosed properties, a sustainable recovery could still be several years away, the report says.

In Canada, the majority of local markets are experiencing a balance between demand for housing and the supply of properties for sale.

The report notes Canada is in the 13th year of the current upward pricing trend — a relatively long time considering that market cycles in the advanced countries average about 12 years.

“While the sector’s continued buoyancy is impressive, monthly data through November suggests prices have levelled off since the spring, with conditions in the majority of local markets in ‘balanced’ territory,” Scotiabank’s report says.

“Ultralow interest rates are still attracting buyers, but increased economic uncertainty combined with some recent slowing in the pace of hiring could dampen demand in the new year.”

The Scotiabank report is consistent with an analysis this week from RBC but less gloomy than a projection from Bank of America Merrill Lynch.

Craig Wright, RBC’s chief economist, said Monday he fully expects domestic demand will cool, including housing, given that household debt levels reached an all-time high of 150.8 per

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cent of disposable income in the third quarter.

In the past year consumer household debt grew, but at the slowest pace since 2002, Wright said.

In a separate paper, Bank of America Merrill Lynch said Canadian home prices are “showing many of the signs of a classic bubble.”

“The only way these valuations can be explained is by the record low mortgage rates. Under more normalized interest rates, home prices would actually look 25 per cent overvalued based on current prices,” the Merrill Lynch economists said.

Even so, Merrill Lynch said it expects Canadian home values to drop only five per cent in the first half of next year.

-

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