WHAT’S INSIDE: The Five Biggest Turn-Offs for Homebuyers PAGE 3
HOMES FOR SALE Grimsby, Lincoln, West Lincoln & Niagara Listings PAGE 4
HOMES FOR SALE Hamilton, Stoney Creek, Ancaster, Dundas & Glanbrook Listings PAGE 8
April 14, 2014 - Vol 63a
Rob, A sincere thank you from my family, it is with much excitement and relief that I am writing this email to you and your team! After our house had been on the market with another agent for 2 years, I had lost hope that we would be able to sell our home effectively and fairly. Our home sold and we are finally able to start packing! I would recommend the Golfi Team to anyone who wants the job of selling their home done effectively. It was a pleasure to work with the Golfi Team and we appreciate all of your hard work. – Sam and Jeanette
Rob Golfi Sales Representative
HOME EVALUATION NO COST • NO OBLIGATION
905-575-7700 • 905-945-0188
9 Lockside Drive Stoney Creek
Page 2
The Golfi Team Real Estate Market Watch
About Rob Golfi
R
ob’s career in real estate began in October 1997 and putting the needs of his clients first has always been a primary principle. Rob joined RE/MAX Escarpment January 1st 1999. As his career grew and with changing times in the marketplace, Rob realized that the team concept was the next step in order to maintain the same level of service that his clients had come to expect. Hence, “The Golfi Team” was formed, comprised of a select group of individuals who work well together and share Rob’s team philosophy. In 2003, the team received the prestigious honour of being in the top 100 Real Estate Teams for RE/MAX Canada*. And this status continues to date*. Rob has received every major award available at RE/MAX including the Diamond Club (2010-2012)*, 100% Club (1999-2001)*, Platinum Club (2002)*, Chairmans Club (2003-2009)*, Hall of Fame (Inducted in 2003)*, and the Lifetime Achievement Award (Inducted in 2006)*, Circle of Legends (2013).* Rob’s experience and aggressive negotiating skills are key in this business. Any agent can list your house, but Rob’s knowledge and ability to negotiate constructively gives his clients peace of mind in dealing with the single most important investment in their lives. Rob has an extensive marketing background that compliments his real estate career. He has achieved an impressive visual identity in the market place. Rob also prides himself on his ability to stay current with in the industry and to remain competitive in the marketplace. His hard work and dedication has awarded him the honour of consistently ranked in the Top 5 of nearly 2500 sales agents in the Hamilton-Burlington and Niagara Area since (2003).** Currently (2013)* Rob is ranked Number 1 in transactions sales ends in the Hamilton-Burlington and Niagara Area.
“Each client is always treated with First Class Service.” *Based on RE/MAX Ontario Atlantic Canada annual commission criteria **Based on The Real Estate Association of Hamilton-Burlington total transactions January 1, 2003 – March 31, 2013.
FREE Home Evaluation
Get your home Sold for Top Dollar!
905.945.0188
April 14, 2014
Be prepared when applying for any tax rebate
New home buyers and owners renovating their own homes continue to be confused about the GST/HST rebate.
D
o your research, and you just might be able to claim that home renovation HST credit after all. New home buyers and owners renovating their own homes continue to be confused about the HST rebate. There are different rules governing this tax depending on your plan. You may be moving into the home as your primary residence, you may be renovating an existing home, or you may plan to rent it out. When you buy a new home or condominium and plan to make it your primary residence, the rebate is usually included in the price. So if you paid $400,000, the real price including the tax is closer to $427,000. In your agreement with the builder, you likely agreed to transfer your rebate to him, bringing your price down to $400,000. If you do not move in on closing, you will have to pay the full amount. If you decide to rent out your new home, you are still eligible for the HST rebate, under a different program, called the HST new rental residential rebate. If you substantially renovated your own home and paid the contractors yourself, you may also be entitled to up to $16,000 in HST rebates. In all cases, you have up to two years from closing your new home or completing your renovations to apply. Figuring out what to do can be tough, says Michael Beallor of Rebate4U.ca, a company that helps homeowners collect the HST rebate. He says it can be difficult for the average person to understand what the Canada Revenue Agency needs and to deliver the documents supporting a claim for the HST rebate. Beallor does not charge a fee up front, but collects when the rebate is paid. Another company that provide the same service is Custom Business Solutions. Lawyers and accountants also provide this service. Some buyers intend to move in when they buy a condominium, but when it is ready years later, their circumstances have changed and so they sell. In these cases, the CRA typically says the buyers are no longer entitled to the HST rebate. But there is a way to fight that, says Toronto author and tax lawyer David Sherman. Sherman says if you can show that you intended to make the house or condo
www. GolfiTeam .com
your primary residence, but that circumstances changed, requiring you to sell, then you may be able to fight a reassessment. You may have relocated for work, there may have been a death in the family, or a child may have intended to use the unit for university but then was accepted at a university out of town. What is very important is that you have the right documents to support your claim when dealing with the Canada Revenue Agency. You may need advice from a lawyer or accountant. Speaking of rebates, my column of Feb. 28 was in part about first-time buyer rebates related to the Ontario Land Transfer Tax. Scott Blodgett with the Ministry of Finance, clarified an example used in the column which referred to a situation where a couple marry and buy a house. One spouse has already claimed the rebate but sold the home before they got married and one has never owned a house. Blodgett says the spouse who has never owned a home can still claim 100 per cent of the land transfer tax rebate, even if they do not take 100 per cent ownership of the property. This also applies to the Toronto Land transfer Tax rebate. If anyone has overpaid land transfer taxes, you have eighteen months to apply to the Ministry of Finance for an overpayment. Be prepared when applying for any government rebate. Mark Weisleder is a Toronto real estate lawyer. Contact him at mark@markweisleder.com
Crossword Solution
The Five Biggest TurnOffs for Homebuyers A
lot of sellers don't listen to their real estate agents, so we'll tell you what your agent wants to say, but can't say to you and this is it - your agent can't get you the price you want unless your home is in pristine move-in condition. That means no sticking drawers in the kitchen. No leaning fences. No ruststained plumbing fixtures. We could go on, but maybe we need to make it clear. If you have even one of following "turnoffs," your home won't sell.
When Buying a Home,
Don’t Forget the Bugs!
S
Buyers can get instantly turned off. Here are their five biggest turn-offs: 1. Overpricing for the market 2. Smells 3. Clutter 4. Deferred maintenance 5. Dark, dated décor Overpricing your home Overpricing your home is like trying to crash the country club without a membership. You'll be found out and escorted out. If you ignored your agent's advice and listed at a higher price than recommended, you're going to get some negative feedback from buyers. The worst feedback, of course, is silence. That could include no showings and no offers. The problem with overpricing your home is that the buyers who are qualified to buy your home won't see it because they're shopping in a lower price range. The buyers who do it will quickly realize that there are other homes in the same price range that offer more value.
Clutter If your tables are full to the edges with photos, figurines, mail, and drinking glasses, buyers' attention is going to more focused on running the gauntlet of your living room without breaking any Hummels than in considering your home for purchase. Too much furniture confuses the eye it makes it really difficult for buyers to see the proportions of rooms. If they can't see what they need to know, they move on to the next home.
Smells Smells can come from a number of sources - pets, lack of cleanliness, stale air, water damage, and much more. You may not even notice it, but your real estate agent may have hinted to you that something needs to be done. There's not a buyer in the world that will buy a home that smells unless they're investors looking for a bargain. Even so, they'll get a forensic inspection to find out the source of the smells. If they find
Deferred maintenance Deferred maintenance is a polite euphemism for letting your home fall apart. Just like people age due to the effects of the sun, wind and gravity, so do structures like your home. Things wear out, break and weather, and it's your job as a homeowner to keep your home repaired. Your buyers really want a home that's been well-maintained. They don't want to wonder what needs to fixed next or how much it will cost.
anything like undisclosed water damage, or pet urine under the "new" carpet, then they will either severely discount their offer or walk away.
Dated décor The reason people are looking at your home instead of buying brand new is because of cost and location. They want your neighborhood, but that doesn't mean they want a dated-looking home. Just like they want a home in good repair, they want a home that looks updated, even if it's from a different era. Harvest gold and avocado green from the seventies; soft blues and mauves from the eighties, jewel tones from the nineties, and onyx and pewter from the oughts are all colorways that can date your home. Textures like popcorn ceilings, shag or berber carpet, and flocked wallpaper can also date your home. When you're behind the times, buyers don't want to join you. They want to be perceived as savvy and cool. In conclusion, the market is a brutal mirror. if you're guilty of not putting money into your home because you believe it's an investment that others should pay you to profit, you're in for a rude awakening. You'll be stuck with an asset that isn't selling. Written by Blanche Evans
elling and buying a home is such a monumental life-changing event that it often prompts us to take a long hard look at the way we live and often that means tire kicking our possessions. With a new home your mind is filled with dozens of questions: should I buy new furniture, replace my flat screen TV and get a new patio set for the gorgeous new deck. By this point, you should be feeling good about your new purchase thanks to all the new plans you have plus securing a thumbs up on the property thanks to a qualified home inspector. One area you might want to also consider before moving in, though, is pest control. Determining if you have creepy crawlers running throughout your walls or hiding under baseboards can be difficult to detect. Having your house professionally treated before you move in will certainly give you piece of mind against those unwanted pests and will also help reduce any future potential problems. Howard Brock, owner of True North Pest Control, thinks the idea is worthwhile and worth considering. “Reducing the risk of pest problems through preventitive measures makes good sense," Brock says. “Over and above having a home inspection, new buyers or current home owners should also consider having their home or building professionally treated for pesky crawling insects such as spiders, centipedes and ants just to mention a few,” he adds. “I see it as a proactive approach particularly in basements where bugs love to hang out. No one wants bugs crawling around their house.” Since bedbugs are also a real concern these days and no one knows if a previous owner or tenant ever had any issues with them, it’s another good reason to have your home treated. Most pest control companies charge approximately $150 to $200 to treat a home from top to bottom depending on the size of the house. They typically treat the home within 24 to 48 hours. For more information about pest control call Howard Brock at 905-973-9576 for a free consultation.
We SELL more... because we DO more!
Page 4
The Golfi Team Real Estate Market Watch
Grimsby, Lincoln West Lincoln & Niagara
Rob Golfi*
GrImsby
$589,900
bEamsVILLE
$438,900
168 Saw Mill Road
4433 Comfort Cr.
BACKING ONTO 40 MILE CREEK-Custom newly built 2 storey country home w/detached 3 car garage sitting on 1.36 acres fenced, features open concept w/large family size kitchen & island, 4 large sunny bedrooms, professionally landscaped, high speed internet available, close to Bruce Trail and minutes to town.
Losani built 4 bedroom 2549 sq.ft. family home just 2 years new. Lots of upgrades including premium lot, flooring, patio door, hardwood staircase, large windows in basement, central vac, & more. Separate dining room, eat in kitchen, main floor den, & living room w/fireplace.
$1,757 per/mth P&I / o.a.C.
$2,356 per/mth P&I / o.a.C.
WEst LInCoLn
$549,900
GrImsby
$779,900
2967 South Grimsby Rd., #18
8058 Sheridan Court CUSTOM BUILT BUNGALOW – Sitting on 1.5 acres in quiet cul-de-sac features 3 bedrm 2200 sq ft of luxury living, beautiful hardwood floors, maple kitchen with granite counters, ensuite bath, partallialy finished basement, oversized dble garage, Less than 10 mins to QEW
GrImsby
$349,900
st. CatharInEs
$283,900
23 Colonel Lyall Street
Beautifully decorated model home end unit Townhouse loaded w/upgrades & quality finishes! Main floor offers corner gas fireplace, hardwood floors, extended breakfast bar & walk out to patio. Upstairs offers master bedroom w/ensuite bath, & walk in closet. Lower level is prof. finished w/3pc bath & large storage area.
GrImsby
$379,900
$379,900
4366 Maplegrove Rd Country living w/city conveniences! – 3 BR home sitting on 1 acre w/300ft. frontage, 2 storey 26x25ft. barn features red maple under most flring, modern kitchen, updated bathrm, family rm w/country style wood stove, master bedrm w/balcony & walk in closet, & updated furnace.
$1517 per/mth P&I / o.a.C.
5.5 ACRES
$1,669,900
bEamsVILLE
$459,900
188 North Service Road
4460 Lincoln Road
ONE ACRE GATED LAKEFRONT ESTATE - Features 4 bedrm home, w/fully-finished basement, 180 ft of armour rock shoreline protection. Everything has been updated from top to bottom in this magnificent show piece. Separate building can be a boat house or studio. View pictures on line.
DUPLEX ON 5 ACRES – 5 bedrm home with with separate gas and hydro meters connected to sewers, features large barn, fantastic sandy soil, near urban area, shingles and furnace 2004, fantastic income potential.
$1837 per/mth P&I / o.a.C.
$6665 per/mth P&I / o.a.C.
$3115 per/mth P&I / o.a.C.
GrImsby
bEamsVILLE
$1,134 per/mth P&I / o.a.C.
WATERFRONT
SPRAWLING CUSTOM BUILT 4 LVL BACK SPLIT Sitting on 1 acre of manicured grounds, features cathederal ceilings, beautiful hardwood floors, large country size kitchen, sun filled rec-rm, landscaped with stamped concrete patio and driveway, heated & insulated oversized garage.
$2196 per/mth P&I / o.a.C.
April 14, 2014
GrImsby
$209,900
GrImsby
$524,900
225 Hysert Road
73 Palmer Road
#23, 130 Livingston Avenue
34 Baker Rd. S.
GET OUT OF TOWN! 4 bdrm home sitting on 1.36 acres of quietness, features hardwood floors, updated bathrooms, & fascia, eaves & siding, freshly painted, clean neat and tidy, 30x17 ft. barn/workshop, and 3500 gal cistern. Close to town but far enough to enjoy country living.
Outstanding and immaculate bungalow in fantastic Lakeside neighbourhood, features gorgeous hardwd flrs throughout, trendy eat-in kitchen open to family room w/showcase gas fireplace, ensuite bath in master bdrm, main floor laundry & sliding doors leading to private, prof. landscaped yard.
AFFORDABLE & ADORABLE – Cute 3+1 bedroom townhouse end unit. Walking distance to downtown. Many upgrades in complex including windows, shingles (2012), furnace (2011) & central air.
Sprawling 3+1 bedroom, 1-1/2 storey home with main floor master bedroom. Sitting on large lot in fantastic neighbourhood. Beautiful hardwood floors, showcase fireplace in family room. Partially finished basement, fenced yard. Available for immediate occupancy.
1398 per/mth P&I / o.a.C.
GrImsby
$309,900
st. CatharInEs
$139,900
541 Winston Rd., Unit #56
130 Eastchester Ave.
WATERFRONT VIEW – Freehold 3 bedrm end unit in fantastic condition, features 1400 sq.ft. of luxury w/unobstructed view of lake, beautiful hardwd & Berber carpet flooring, stylish kitchen w/quartz counter top and glass back splash, quick access to QEW, $71.89/mo. road fee.
DOLL HOUSE – Great starter home beautifully updated 2 bedrm, 2 bath bungalow in move in condition! This home features new flooring, windows, kitchen, large oversized detached garage, & quick access to QEW, busses and shopping.
$1237 per/mth P&I / o.a.C.
$558 per/mth P&I / o.a.C.
POSSIBLE SEVERANCE
smIthVILLE
$448,000
$838 per/mth P&I / o.a.C.
$1,438 per/mth P&I / o.a.C.
Jordan
$549,900
$2,096 per/mth P&I / o.a.C.
GrImsby
$339,900
3662 Glen Rd.
5 Pleasant Grove Terrace
RARE FIND! Sprawling bungalow sitting on 1/2 acre ravine lot. 3+1 BR, large fin. basement, landscaped yard w/treed ravine backdrop, great family home w/large addition to rear, custom oak finishes w/large dining & Florida rm overlooking the backyard. These kind of properties rarely come up for sale!
Impressive 4 level brick backsplit in great escarpment neighbourhood, features 3 bedrooms, 2 full bathrooms, large family room with gas fireplace, shingles and furnace replaced in 2009 and fenced yard. All levels finished. Just move right into this very clean and well maintained home!
$1357 per/mth P&I / o.a.C.
$2,196 per/mth P&I / o.a.C.z
48 ACRES
Jordan VILLaGE
$799,900
GrImsby
$519,900
smIthVILLE
$410,000
7 Wade Road
3792 Main Street
334 Mud Street West
55 Las Road
Oversized lot can possibly be severed for a corner building lot or build a garage. Buyer to verify zoning reg. 4 level side split in prime location on quiet deadend street. 3+2 bdrms, in-ground pool, walkup from bsmt, double garage, & large driveway. Updated kitchen, windows, hdwd floors and roof.
INCREDIBLE! Two and a half storey, four bedroom, all brick home, built in early 1920’s in historic Jordan Village. Features coffered ceilings, leaded glass windows, hardwood floors. Zoned residential/commercial. Sitting on large 86 x 165 foot lot.
48 ACRE HOBBY FARM - minutes to town & QEW, features 2 storey w/3 bedrooms and 2.5 baths, hdwd. floors on main level, spacious family room with wood burning fireplace, main floor laundry, partially finished basement, 26x48 ft. out-building with hydro, & 5 acres of bush.
Large 2750 sq.ft. 4 bedroom family home located on a quiet street in the prestigious Station Meadows. Features include hardwood flooring on both levels, large dining room, eat in kitchen, family room w/gas fireplace, unfinished basement, main floor laundry, formal living room, & much more.
$1,789 per/mth P&I / o.a.C.
$3,195 per/mth P&I / o.a.C.
$2077 per/mth P&I / o.a.C.
www.golfiteam.com
$1,638 per/mth P&I / o.a.C.
April 14, 2014
The Golfi Team Real Estate Market Watch
Page 5
where the future takes shape
Seniors Real Estate Specialist is a designation for ReAlTORS® to address the needs of home buyers and sellers, age 50-plus.
visit www.GolfiTeam.com
If you are buying or selling a home,
contact Rob Golfi today.
Rob Golfi SAleS RepReSe nTATive
905-575-7700
Check out our Blog for the latest information in Real estate
Ontario tenants can offer rent up front Corvers vs Bumbia: Ontario Superior Court decision has important lessons about lease negotiations between landlords and tenants.
A
n Ontario court ruling means it's OK for a tenant to pay a year's rent up front. Ontario tenants can offer a landlord rent up front, a court has ruled. A recent decision of the Ontario Superior Court provides important lessons about lease negotiations between landlords and tenants in Ontario. Here’s what happened: Alison Corvers agreed to rent a home from Tanveer Bumbia in Mississauga from May 1, 2013 to April 30, 2014 for $7,500 per month. Bumbia initially refused Corvers’ rental application because Corvers was from the UK, was here on a visitor’s visa and was hoping to extend her time here by getting a work visa, according to her lawyer. Bumbia was concerned as to whether she would maintain the payments. Corvers then paid one years’ rent in advance, $90,000, to demonstrate her good faith. Bumbia accepted this. Corvers also paid a security deposit of $7,500 up front to cover potential damages to the unit. The problem is that under Ontario’s Residential Tenancies Act, a landlord cannot request more than first and last month’s rent before a tenant moves into the property. The Act also states that anything in a lease that violates the Act is void. As such, after moving in, Corvers brought an application to court to pay the extra months’ rent and the security deposit back to her, as she claimed that this was all demanded by the landlord. In
an original decision dated October 7, 2013, Judge Kofi Barnes of the Superior Court of Ontario looked at a text sent by the tenant’s real estate agent to the landlord’s agent that said “Alison will pay 12 month’s rent up front.” Based on that, he decided that since the tenant offered the money up-front, it was legal. However, since the security deposit was not offered by the tenant, this amount had to be paid back. The case was appealed and in a decision dated February 12, 2014, Superior Court judge Frank Marrocco agreed with Justice Barnes and explained that while a landlord could not require a tenant to pay more than first and last month’s rent as a condition of the tenancy, if the tenant offered to pay more money in advance and the landlord accepted the payment, then it would be legal. In addition, the court held that interest on the entire prepayment of rent had to be paid by the landlord, in accordance with the rate prescribed under the Act, which was 2.5 per cent in 2013 and .8 per cent in 2014. Barnes cited a decision in 2009 of Royal Bank v MacPherson in support of this position. In the MacPherson case, the tenant prepaid a year’s rent of $24,000 to the landlord and then the landlord lost the property to the bank after defaulting on his mortgage. The tenant said he did not owe any rent as he had prepaid it for a year. The bank argued that since the payment was illegal, it should not be binding. The court disagreed, and said that the bank must step into the shoes of the landlord and be bound by the prepayment. It would be unfair to penalize the tenant by not recognizing the prepayment. As a result of the MacPherson case, lenders who sell a rental property after an owner defaults will typically state that the
buyer accepts any tenancy arrangement. A buyer in this situation must do due diligence in advance to try and verify what payments were made by the tenant to the prior landlord so that they are not faced with a similar situation where the tenant has prepaid rent to someone else and now they are stuck with it. Here are the lessons to be learned from these cases: Landlords cannot advertise that they will require more than first and last month’s rent in advance of the tenant moving in. This includes any security deposit.
Call Today 905-945-0188 905-945-0188 Call
If the tenant offers to pay extra money up front, make sure that it is clear that the offer is coming from the tenant. This could include a deposit to cover any damages or clean the unit when the tenant wants to bring a pet. Tenants need to keep a receipt for the payment as proof that the amount was paid, in case it is ever challenged later by anyone. Mark Weisleder is a lawyer, author and speaker to the real estate industry. You can contact Mark at mark@markweisleder.com
Seller’s Market Continues (April 3, 2014 – Hamilton, Ontario) The ReAlTORS® Association of Hamilton-Burlington (RAHB) reported 1268 property sales were processed through the RAHB Multiple listing Service® (MlS®) system in March. This represents a nine per cent increase in sales compared to March of last year.
T
here were 1885 properties listed in March, a decrease of 1.3 per cent from the same month last year. End-of-month listing inventory was 12.9 per cent lower than last year at the same time. The average sale price of $409,684 was 4.3 per cent higher than last March. “The low inventory of listings is still the story,” said RAHB CEO Ross Godsoe. “A one per cent decrease doesn’t sound like much, but last March’s listings were down almost 10 per cent from the year before that. Put in context, listings this March were 8.7 per cent lower than average for the last ten years. Low inventory coupled with sales that are almost at the 10year average are driving the price increase and the seller’s market.” Seasonally adjusted* sales of residential properties were 2.4 per cent higher than the same month last year, with the average sale price up seven per cent for the month. Seasonally adjusted numbers of new listings were 8.4 per cent lower than the same month last year. Actual overall residential sales were 8.9 per cent higher than the previous year at the same
time. Residential freehold sales were 6.5 per cent higher than last year while the condominium market saw an increase of 19 per cent in sales. The average price of freehold properties showed an increase of seven per cent over the same month last year; the average sale price in the condominium market increased three per cent when compared to the same period last year. The average sale price is based on the total dollar volume of all properties sold. Average sale price information can be useful in establishing long term trends, but should not be used as an indicator that specific properties have increased or decreased in value. The average days on market decreased from 44 to 37 days in the freehold market and from 43 to 39 days in the condominium market. Every community in RAHB’s market area has its own localized residential market. Please refer to the accompanying chart for residential market activity in select areas in RAHB’s jurisdiction. *Seasonal adjustment removes normal seasonal variations, enabling analysis of monthly changes and fundamental trends in the data.
Municipal Year-to-Date Statistics March 2013 vs March 2014 P R E S E N T E D
B Y
AREA
T H E
G O L F I
T E A M
YTD Comparison Feb 2014 / 2013
Based on sales data on all home sales from March 2013 vs March 2014, REALTORS® Association of Hamilton-Burlington
Listed YTD
Expired YTD
Sold YTD
Average Selling Price
Average Days on Market
Selling % of List Price
ANCASTER (DISTRICT 42)
2014 2013
237 236
26 35
137 115
$509,747 $456,576
54 65
98% 98%
BURLINGTON (DIST. 30 to 36 & 38)
2014 2013
960 1035
85 97
672 639
$489,488 $473,977
35 34
99% 98%
DUNDAS (DISTRICT 41)
2014 2013
97 103
12 5
56 80
$373,150 $376,825
36 53
98% 98%
GLANBROOK (DISTRICT 53)
2014 2013
126 163
21 21
66 86
$346,786 $320,481
73 75
98% 98%
GRIMSBY (DISTRICT 54,55)
2014 2013
136 128
21 17
87 84
$366,839 $359,796
49 54
98% 98%
HAMILTON EAST (DIST. 23,24,27,28,29)
2014 2013
236 249
28 27
157 185
$215,795 $205,123
37 45
97% 97%
HAMILTON WEST (DIST. 10, 11, 12)
2014 2013
206 206
15 4
143 48
$317,505 $278,495
36 36
99% 98%
HAMILTON MTN (DIST. 15,16,17,18,25,26)
2014 2013
490 529
40 63
354 370
$303,848 $276,699
36 44
99% 98%
HAMILTON CTRL (DIST. 13,14,20,21,22)
2014 2013
306 367
36 70
243 269
$189,769 $171,102
48 50
98% 97%
BEAMSVILLE (DISTRICT 981)
2014 2013
53 69
9 6
50 41
$323,177 $278,591
57 40
98% 98%
WEST LINCOLN (DISTRICT 56, 982)
2014 2013
20 27
7 5
11 13
$346,273 $400,923
60 76
96% 97%
SMITHVILLE (DISTRICT 57)
2014 2013
26 22
0 2
24 12
$268,287 $221,667
76 69
97% 96%
STONEY CREEK (DISTRICT 50,51,52)
2014 2013
318 320
41 44
191 177
$347,015 $324,015
46 47
98% 98%
Call Today 905-575-7700
April 14, 2014
The Golfi Team Real Estate Market Watch
Page 7
Beware of Reverse MortgageFrauds by Gianni Leonetti, Leonetti Consulting
F
unding retirement can be tricky for some seniors. Instability in the stock market and poor returns on many investments means some seniors are looking to other avenues for financial support. A growing trend has emerged as more and more seniors are converting the equity in their homes into a new source of credit. One such loan product, the Reverse Mortgage, has become a popular source of consumer credit. But, as in virtually every industry, scam artists and fraudsters have begun to take advantage of uninformed seniors in financial need. What is a Reverse Mortgage? A Reverse Mortgage is a special, legal type of loan that allows homeowners to convert the equity in their home into cash, without incurring monthly penalties (The opposite of a traditional mortgage). Reverse Mortgages are neither available to, nor ideal for everyone. To acquire a Reverse Mortgage you must be 55 or older, have a small mortgage balance and the property must be your primary residence. A Reverse Mortgage loan itself does not have to be repaid, as
long as the senior homeowner is alive and living in the property. When the home is sold or the homeowner passes away, the equity left on the property is paid out. Reverse Mortgage Controversy. A Reverse Mortgage is a legal, legitimate loan option; however, there is some controversy around this type of financial product. The major benefits of a Reverse Mortgage is that they provide some financial relief to senior homeowners that already have substantial equity in their home, but now find it difficult to make mortgage payments. They also allow homeowners to use the equity in the home without having to sell their property. The major disadvantages of a Reverse Mortgage: interest rates are typically higher than traditional mortgages, fees associated with obtaining a Reverse Mortgage can be high, and you could quickly use up the equity in your home. There are often alternative solutions that can fulfill a senior’s financial needs.
Crossword Puzzle (Solution on Page 2)
Reverse Mortgage Scams, here are three common scams related to Reverse Mortgages that specifically target vulnerable seniors: 1) Information fees - Potential Reverse Mortgage borrowers are often duped into paying fees (which are normally free) to fraudsters for information and assessments related to this mortgage/loan product. 2) Inflated value and transfer of title - Fraudsters often work with an extensive team of con artists to artificially inflate the value of a home, assist a senior in acquiring a reverse mortgage, then dupe them into transferring away the title of the property.
3) Document Fraud - Scam artists posing as representatives of financial institutions send letters to seniors asking them to submit fees and copies of documents that need to be filed to continue the Reverse Mortgage loan. With legitimate Reverse Mortgages, all documents and fees will be dealt upon approval of the loan. To avoid becoming a victim of scams related to Reverse Mortgages, be sure to carefully research and understand how such a loan product works. Seek out your own reverse mortgage specialist and be sure you speak to qualified professionals.
SUDOKU 3
1
2
6
4 3
2
5
9
9 1
6 4 3
8
2 7 2 3 6
6 5 1
4 8
4
The Solution 5 3
2
7
4
6
8
9
5
2
3
4
9
1
7
7 4 9 2 3 1 8 6 5
4 2 6 9
3 9 8 1 5
7
2
8 5 1 3
4 7 6
5 7 1 3 4 6 9 8 2
2 1 5 6 9 4 7 3 8
6
9
3
8 7 5 1 3 6 2 4
4 8 2 7 1 5 9
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8
1 Rum-based cocktail (8) 2 Disdain (8) 4 Foolishness (6) 5 French poet and critic, d. 1867 — audible ear (anag) (10) 6 Arm bone (4) 7 Hello! (4) 10 In a lively manner (10) 12 Hypothetical discontinuity in the fourth dimension? (4,4) 13 Filthy place (8) 16 Pang (6) 18 Clean (4) 19 Conform to a metrical pattern (4)
6
Down
1 Where ships tie up (4) 3 Prettify — alter a photo (8) 8 Hebridean island (4) 9 Tang (8) 11 Surprising (10) 14 Bang (6) 15 Fang (6) 17 Female flight attendant (10) 20 Prang (8) 21 Starchy foodstuff (4) 22 Type of melon (8) 23 Milky gem (4)
1
1
Across
7
5
9
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.
Page 8
The Golfi Team Real Estate Market Watch
Rob Golfi*
stonEy CrEEk
Hamilton, Stoney Creek Ancaster, Dundas & Glanbrook
$000,000
86 Waterford
NEWPORT YACHT CLUB- This trendy and stylish freehold townhome features gourmet kitchen w/granite counters and breakfast bar with glass backsplash, hardwood floors, upgraded light fixtures, mostly new vinyl windows & doors, new carpet with high end under pad, and professionally landscaped.
$1557 per/mth P&I / o.a.C.
hamILton
April 14, 2014
$249,900
8 Birchcliffe Cr.
SUPER MOUNTAIN LOCATION!! Well looked after and spotless home, same owner for 40 years. Updates include shingles, most windows, kitchen, bath and electrical panel (2009). Fridge, stove, washer and gas dryer included. Move in ready! Unpack and enjoy this convenient mountain neighbourhood.
stonEy CrEEk
$389,900
82 Monza Drive
QUIET CRESCENT BY THE LAKE - This home features custom design kitchen with quarts counters & breakfast bar with stainless steel appliances, 9 ft. ceilings, pot lights, gorgeous hardwd flrs w/oak stair case, custom drapery, bedrm level laundry, fenced yard with interlock patio, & quick access to QEW.
$1557 per/mth P&I / o.a.C.
hamILton
$338,900
hamILton
$219,900
50 Bell Avenue
LOCATION ROCKS!! Fabulous South East address! This home offers location, charm & convenience! The kitchen is roomy and has plenty of oak cabinets as well as being open concept which is perfect for entertaining! Living room w/decorative fireplace, large window & cove ceilings, & unfinished basement with 2pc bath. Walk to schools, parks & shopping.
stonEy CrEEk
485 Green Road, Unit #70 GORGEOUS UPDATED HOME!! Shows 10++ master retreat w/new 3 pc ensuite, walk-in closet & freshly painted. New two piece bath on the main level. Bedroom level laundry, lots of visitor parking, easy highway access, Trans cab, & steps to Lake Ontario. Proposed go train service.
$1078 per/mth P&I / o.a.C.
$898 per/mth P&I / o.a.C.
stonEy CrEEk
$399,900
$269,900
bInbrook
$424,900
425 East 15th Street
270 Montreal Circle
260 Binbrook Rd.
CUSTOM BUILT BUNGALOW ON HAMILTON MOUNTAIN!! Original owner, detached garage with hydro, big concrete drive, poured concrete foundation with a 200 sq.ft. cold room. Side entrance and full 3 piece bath in lower level. Could be in-law setup or rental! Very well maintained!
FABULOUS FIND – All brick 2 storey home on premium lot w/9 ft. ceilings, features oak staircase, gas fireplace in family rm, large maple kitchen w/glass tile backsplash & pantry, master bedrm w/his & hers walk in closet, ensuite w/soaker tub & separate shower, & fenced yard w/large deck.
“OUT” BUT NOT “FAR OUT” – Half acre beauty w/the sweet smell of country all around, spacious 4 lvl back split features lrg. living rm w/new bay window, cozy family rm w/showcase gas fireplace, bedrooms w/original hardwood flrs, updated bathrm, private yard, & oversized dble garage.
$1357 per/mth P&I / o.a.C.
$998 per/mth P&I / o.a.C.
$1597 per/mth P&I / o.a.C.
$1697 per/mth P&I / o.a.C.
ONE R E OTH N A D SOL hamILton mtn
$259,900
90 June Street 4 LEVEL BACKSPLIT – Located in central mountain, 3 bedroom home with 2 kitchens & 2 baths, ideal for in-law set up with side door entrance to lower level, features hardwood floors, wood fireplace, fenced yard, concrete drive, close to all amenities.
$1038 per/mth P&I / o.a.C.
hamILton Ctr
$279,900
hamILton East
$449,900
hamILton Ctr
327 Webster Road
29 Gertrude St.
Beautifully renovated 2 storey, 3 bedroom home with 1.5 bathrooms including a main floor powder room, Cherry wood kitchen, updated windows, roof insulation, kitchen, driveway, exterior, plumbing, electrical furnace and the list goes on! Nothing to do but move in!
IMMACULATE best describes this awesome 4+1 bedrm, 2200 sq.ft., all brick home on premium lot. Hdwd floors mostly throughout, kitchen w/granite counters & breakfast bar, oak staircase, fin. basement w/bedroom & full bathroom.
DUPLEX – GOOD RENTAL PROPERTY! No maintenance required on this beautifully renovated & updated 4 bedroom home. Updated from top to bottom in 2011 including shingles, windows, wiring, plumbing, kitchen & baths. Large fully-fenced yard & fantastic income!
$1797 per/mth P&I / o.a.C.
$1118 per/mth P&I / o.a.C.
$719 per/mth P&I / o.a.C.
3 ACRES
WATERFRONT
stonEy CrEEk
$179,900
51 Bristol St. N.
$579,900
90 Seabreeze Cres. WATERFRONT RETREAT 1900 sq.ft, 1-1/2 storey home with beautiful lake views. Features 4 bedrooms, 2-1/2 baths, vaulted ceilings, oak spiral staircase, professionally landscape yards. Call for a private viewing today!
$2316 per/mth P&I / o.a.C.
hamILton WEst
$479,900
hamILton Ctr
$154,900
stonEy CrEEk
$549,900
72 Sanders Blvd.
184 McAnulty Blvd.
124 Second Road East
Walking distance to McMaster! 7 Good sized BRs, 2 baths, large eat-in kitchen, separate side entrance to in-law suite. Home currently rented til May ‘14 for $3,095/mth, tenants willing to stay. Updates: new furnace & A/C units ‘10, wired smoke alarms & all rooms are internet, TV, & phone wired.
CONVENIENT LOCATION! One floor plan located behind Centre mall, huge lot, paved parking for 10-13 cars. Three nice sheds with hydro and phone. East highway access and walk to the new super Centre mall. Fully fenced yard, updated windows, furnace, Central air and shingles.
Just under 3 acres 4+1 bedroom, 2 storey home. Reno’d 7 years ago to include an open concept main floor w/ large dining room for entertaining. Upstairs feat large bedrooms & 2 full baths. In-law w/separate entrance. 3 car heated garage (woodstove) for all the toys.
$1917 per/mth P&I / o.a.C.
$619 per/mth P&I / o.a.C.
$2081 per/mth P&I / o.a.C.
WATERFRONT
hamILton East
$579,900
stonEy CrEEk
$399,900
hamILton East
$117,900
hamILton mtn
$209,900
207 Beach Blvd.
723 Ridge Road
95 Hope Avenue
130 East 23rd St.
LAKESIDE LIVING AT IT`S FINEST! Beautiful 3 bedroom, 2 full-bath home w/gorgeous lake view. Features 1 bedroom apt in basement w/outside entrance. Big 2 car garage w/workshop & 17x17 carport in rear. Home is nicely renovated w/huge windows on Lakeside & amazing eat-in kitchen.
BEAUTIFUL ESCAPRMENT VIEWS! Prime location on Ridge Road, close to all amenities. This property has a home suitable for renting or building your dream home. Buyer to satisfy themselves with building permits & costs.
Cute one floor plan, and same owners for 24 years!! Front concrete drive, nice fenced in backyard w/sliding doors from kitchen, new windows and doors. Great location, close to new Centre Mall and parks.
$1597 per/mth P&I / o.a.C.
PRIME MOUNTAIN LOCATION! Updated bungalow w/detached garage & 2 car prkg. features kitchen w/walk out to private fenced yard, big front porch, corner lot w/ parking off of Queensdale & a good size rec room. Many updates done over the years including shingles in 2011. Shows nice!
$471 per/mth P&I / o.a.C.
$2316 per/mth P&I / o.a.C.
Call Today 905-575-7700
$838 per/mth P&I / o.a.C.
April 14, 2014
The Golfi Team Real Estate Market Watch
Page 9
Is There Hidden Treasure in Your Old Home? By: Brett Freeman
I
think everyone has heard stories about the new owner of an old house doing renovations and discovering a huge stash of Great Depression-era cash hidden in the walls or under the stairs. While many of these stories are no doubt urban legends, some of them are true, but if you’re suddenly feeling tempted to start rapping your knuckles along your plaster walls looking for a hidden hollow, don’t bother. Such discoveries are sometimes made–but by other people. But even if there’s no cache of cash hidden in your floorboards, there might yet be some hidden treasure in your home. When I was growing up my family struck gold (so to speak) twice. The first time was soon after we moved into a house in Kingston that had been built in the 1920s and (if memory serves), had been owned by a single family, being passed from the original owners to their unmarried daughter, who continued to
live there well into her golden years. The homes on the street were distinct but similar, having been designed by the same architect. All were red brick, all had front doors featuring bevelled glass, and all had second story porches both in front and in back that went utterly unused because their tar-covered floors made them unbearably hot, even on relatively cool days. They also all had matching stained-glass windows on either side of the living room fireplace. All except for our house, that is. Or so we thought. Several months after we’d moved in my moved in my mother wondered aloud to a visiting neighbor why ours was the only house without stained-glass windows. “Your house has stained-glass windows,” he answered. An awkward silence ensued, as we were standing in the living room, and the only thing to either side of our fireplace was solid wall. Or, again, so we thought.
“My kitchen window looks out on your house,” the neighbor said. “I can see them whenever I do dishes. You have beautiful stained glass windows.” We went outside, around the house and, sure enough, there they were. For whatever reason the previous owner had had them plastered over inside (possibly, we speculated, because they clashed with the searingly bright turquoise paint that had covered all the walls in the house until we repainted prior to moving in). Once uncovered, the windows added considerable character and beauty to the room. My house in Ottawa Some years later we moved to Ottawa, Ontario, this time to a house built in the 1830s. Once again we found hidden treasure near the fireplaces. Our contractor had brought his father over to see if he could repair the cracked plaster molding in the living room. Indeed he could, but
what interested him wasn’t the molding but the mantle, which was a hideous thing covered with many layers of paint. The old gentleman kept going back to the mantle, prodding at it with his pocketknife. Finally he spoke to his son, in Italian, who translated: “Dad thinks this mantle is made of slate. He wants to know if you’ll let him dismantle it and take it home so he can clean it up.” In fact, the house contained four slate mantles, and all of them were exquisitely etched and remarkably beautiful, the product of craftsmanship that no longer exists. Frankly, the skill with which the contractor’s father restored the mantles is probably also lost, and while I’m sure he was paid for his work, I’m equally certain that he was chiefly motivated in uncovering relics of a bygone artisan era. I also believe that many old houses contain similar workmanship that, for whatever reasons, lies covered, awaiting rediscovery.
Homes For Sale Bungalows & Raised Ranches Two Storeys • Semis & Town Homes HAMILTON EAST
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STONEy CRk uPR
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Call Us Today for information on Any of these Homes!
905-575-7700 • 905-945-0188 Call Today 905-575-7700 www.golfiteam.com
Page 10
The Golfi Team Real Estate Market Watch
April 14, 2014
Marketplace Clutter Removal & Organizing
Senior Downsizing
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Pamela Culp Blanchard Cell: 905-971-9568 www.beclutterfree.ca
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real Estate Lawyer
Paul Lewis settimi
Barrister, Solicitor and Notary Public
Jacqueline Paradisi
8 Main Street East, Suite 303 Hamilton, Ontario L8N 1E8 Bus: 905-527-0808 Fax: 905-527-0774
HOME STAGING
20 Main Street West Grimsby, Ontario L3M 1R4 Bus: 289-235-7500 Fax: 905-527-0774
paul.settimi@cogeco.net
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Over the last 2 years, the Golfi Team proudly helped raise over 5680 lbs of food for local food bank.
for more information about our services, or to book your inspection.
Buying a home through us?
Please donate to your local food bank – it’s the neighbourly thing to do.
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