August 2015 Issue 113 by The Real Estate Market Watch

WHAT’S INSIDE: Many Canadians would Struggle if Mortgage Payments Grew Slightly PAGE 9

HOMES FOR SALE | PAGE 4 Hamilton, Stoney Creek, Ancaster, Dundas & Glanbrook LUXURY & WAtERFRONt | PAGE 8

HOMES FOR SALE | PAGE 6 Grimsby, Lincoln, West Lincoln & Niagara

August 2015 - Vol 78

A Look into Grimsby’s Past...

GRIMSBY BEACH - CHATAUQUA, THE PRIDE OF CANADA – A PEEK INTO GRIMSBY’S FAMOUS PAST Where would we be today, if we were living in a modern resort town. Our lives would definitely be different! Look inside on Page 2 for Grimsby Beach History. Photo credit http://vitacollections.ca/grimsbychautauqua

HOME EVALUATION NO COST • NO OBLIGATION 905-575-7700

905-945-0188

Page 2

August 2015

The Golfi Team Real Estate Market Watch

A Peek into Grimsby’s Famous Past… (COVER)

Grimsby's Chautauqua History In 1846, Methodists gathered on the shore of Lake Ontario on land owned by J.B. Bowslaugh in a ten day temperance rally. Starting in 1859, this area became the site for regular summer events. Tents and sermons became the norm until 1875 when J.B. Bowslaugh deeded 12.5 acres to the cause, and the Ontario Methodist Camp Ground Company was started. Cottages built by J.B.’s brother, Edward Bowslaugh, began to populate the newly divided lots. Steamships and rail lines allowed for easy transportation and visitors started staying for the whole of the summer season. Ontario Methodist Camp Ground The Ontario Methodist Camp Ground Company became a popular resort for people all over Ontario and other nearby areas. Science, politics, and arts were the subject of many lectures. Visitors could expect musical acts, theatre performances, sermons, and lawn bowling and baseball. Two hotels were opened within the resort. According to the 1885 program, over 50,000 people had visited the resort in 1884. The Temple was built in 1888 and cottages and people continued to come to “The Pride of Canada”. The popularity of Grimsby Beach continued to grow and company and family picnics became a group to which the campground catered. Starting in 1906, one of the largest picnic celebrations was held annually on Emancipation Day. In 1909, the Grimsby Park Company Ltd went bankrupt. A Cleveland man, H.H. Wylie, purchased the area and started a radical transition for the area. No longer were the strict rules of temperance enforced. Now there were roller coasters, the “Electric Lady”, and balloon ascensions. Company picnics continued to be a major source of income for the company. Remnants of the Chautauqua Grimsby Beach continues to echo with the charms of its storied past. In fact, the cottages built for the summer residence of a temperance camp, remain the most prominent connection to the rich history of the area. Now, the intricate fretwork and colors of the cottages inspire a vibrant mood at the beach which is a reminder of the spirit that once built the area. Though the Grimsby Chautauqua is no longer a physical presence within the community, its spirit remains and is evident throughout the town. A desire to create and support lifelong learning, provide a holistic approach to healthy community living, enrich the quality of life, while combining mind, body and soul and promoting volunteerism and awareness among community groups are goals commonly shared by many of Grimsby’s organizations and Town services. Credit http://vitacollections.ca/ grimsbychautauqua

Call Today 905-945-0188

August 2015

The Golfi Team Real Estate Market Watch

MUST SELL • • • •

How to Sell a Home That Didn’t Sell

Estate Sales Bank Foreclosures Company-Owned Properties Distress Sales

HAMILTON/NIAGARA – If your home has just come off the market and hasn’t sold, don’t be discouraged. The reason your home did not sell may have nothing to do with your home or the market. In reality, your home may have been one of the most desirable properties for sale. So Why Didn’t Your Home Sell? Last year almost half of the homes listed for sale never sold at all, and many sellers found that there was a tremendous amount a homeowner needed to be educated on to sell their home for top dollar in the shortest time period. Don’t risk making the wrong choices and losing both time and money on your investment. Before you hire a realtor, know the right questions to ask to save you time and money. Industry experts have prepared a free special report called “How to Sell a House that Didn’t Sell” which educates you on the issues involved. Please visit www.CouldntSell.com

Free List with Pictures www.HamiltonDistressSales.com

Fixer-upper HOMeS FOr SALe These homes need work. Free list with pictures. www.HamiltonFixerUpper.com

11 Critical Home Inspection Traps To Be Aware Before Listing Your Home For Sale HAMILTON - According to industry experts, there are over 33 physical problems that will come under scrutiny during a home inspection when your home is for sale. A new report has been prepared which identifies the eleven most common of these problems, and what you should know about them before you list your home for sale.

Whether you own an old home or a brand new one, there are a number of things that can fall short of requirements during a home inspection. If not dealt with, any of these 11 items could cost you dearly in terms of repair. That’s why it’s critical that you read this report before you list your home. If you wait until the building inspector flags these issues for you,

you will almost certainly experience costly delays in the close of your home sale or, worse, turn prospective buyers away altogether. In most cases, you can make a reasonable preinspection yourself if you know what you’re looking for, and knowing what you’re looking for can help you prevent little problems from growing into costly and

unmanageable ones. To help home sellers deal with this issue before their homes are listed, a free report entitled “11 Things You Need to Know to Pass Your Home Inspection” has been compiled which explains the issues involved. To order your free copy of this report visit www. HamiltonInspectionPitfalls.com

Page 3

27 Quick & Easy Fix Ups to Sell Your Home Fast and for Top Dollar HAMILTON/NIAGARA – Because your home may well be your largest asset, selling it is probably one of the most important decisions you will make in your life. And once you have made that decision, you’ll want to sell your home for the highest price in the shortest time possible without compromising your sanity. Before you place your home on the market, here’s a way to help you to be as prepared as possible. To assist homesellers, a new industry report has just been released called “27 Valuable Tips That You Should Know to Get Your Home Sold Fast and for Top Dollar.” It tackles the important issues you need to know to make your home competitive in today’s tough, aggressive marketplace. Through these 27 tips, you will discover how to protect and capitalize on your most important investment, reduce stress, be in control of your situation, and make the most profit possible. In this report you’ll discover how to avoid financial disappointment or worse, a financial disaster when selling your home. Using a common-sense approach, you get the straight facts about what can make or break the sale of your home. You owe it to yourself to learn how these important tips will give you the competitive edge to get your home sold fast and for the most amount of money. How to order your free copy of this report, check us out online at

www.hamilton27tips.com

Homes For Sale Bungalows & Raised Ranches Two Storeys • Semis & Town Homes Hamilton EaSt

Hamilton mtn

Hamilton CtR

StonEy CRk upR

StonEy CRk lWR

GRimSBy

linColn

Bungalows/ Raised Ranches Starting at $139,000 24 Available

Bungalows/ Raised Ranches Starting at $209,000 59 Available

Bungalows/ Raised Ranches Starting at $108,900 25 Available

Bungalows/ Raised Ranches Starting at $289,900 14 Available

Bungalows/ Raised Ranches Starting at $224,900 18 Available

Bungalows/ Raised Ranches Starting at $204,900 29 Available

Bungalows/ Raised Ranches Starting at $219,000 28 Available

two Storeys Starting at $169,900 14 Available

two Storeys Starting at $239,999 94 Available

two Storeys Starting at $99,900 97 Available

two Storeys Starting at $349,900 34 Available

two Storeys Starting at $289,900 29 Available

two Storeys Starting at $239,900 43 Available

two Storeys Starting at $240,000 37 Available

Semis & town Homes Starting at $161,900 17 Available

Semis & town Homes Starting at $149,900 50 Available

Semis & town Homes Starting at $119,900 29 Available

Semis & town Homes Starting at $239,900 12 Available

Semis & town Homes Starting at $189,900 28 Available

Semis & town Homes Starting at $229,000 21 Available

Semis & town Homes Starting at $247,900 15 Available

Call Us Today for Information on Any of these Homes!

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

Page 4

The Golfi Team Real Estate Market Watch

August 2015

Hamilton, Stoney Creek Ancaster, Dundas & Glanbrook

1/2 Acre Lot

Rob Golfi*

Mountain Bungalo with Garage!

West Mountain - Fabulous Location!

Amazing location & well-kept brick bungalow. Updates: Shingles, kitchen, bathroom, eaves, main floor windows, back flo preventor, electrical panel, AC and furnace. Nice yard with a deck, detached garage with hydro and 6 car driveway. 33 Moxley Drive, Hamilton | $329,900

Wow, Mr. Clean lives here! Very well looked after townhome. Many updates: kitchen, baths, flooring & doors. Gas water heater. Very well run condo. Two car drive with garage. Good schools within walking distance, bus and shopping. Landscaping and snow removal with condo fees. Gas line run to unit. Easy HWY access. 184 Lavina Crescent, Hamilton | $229,900

Perfect Starter Home!

Fantastic Legal Duplex

Gorgeous 3 Bedroom Home

Very well maintained, close to schools & center mall. Appliances included. Updated shingles, furnace, central air, most windows, wiring, & plumbing. Third floor can be a bedroom loft or storage. $20.00 front yard parking fee on tax`s each year. Flexible closing. 459 Paling Ave., Hamilton | $199,900

On prestigious tree lined street in sought after area, features all brick construction, hardwd flrs throughout, zoned multiresidential allowing for further building if desired. New Improvements include carpeting, fencing, windows, steel door, furnace & C/Air. 106 Lake Avenue Drive, Stoney Creek | $539,900

This spacious bungalow offers 2,100sqft of gorgeous living space on one floor. 3 bedrooms, 3 full baths, partially finished basement, corner lot with double garage and fenced yard with stone patio and gazebo. The finishes make it look like a model home! Visit www.112RoyalWinterDrive.com for more information! 112 Royal Winter Drive, Binbrook | $584,900

Custom Built 2 Bedroom all brick home

Perfect for Large Family

Shows 10++

Sitting on one acre with 3 car garage, home features large living room, kitchen with granite counters, large island, high end stainless steel appliances, main floor laundry, large master bedroom, and second kitchen. Hard wood flooring throughout. 1489-1/2 Highway #8, Stoney Creek | $499,900

Immaculate custom built home in lower Stoney Creek. 3300 sq.ft. Perfect home for lrg family. Features 4+2 BRs, 4 baths, lrg eat in kitch w/walk-out, ceramics & hardwd throughout, sep dining rm, sunken family rm, den, in-law suite in bsmt w/ sep entrance, dble garage, oversized lot. 4 Hewitson Road, Stoney Creek | $739,900

Beautiful garden and rear deck w/a walk-up from the Bsmt. & walk-out from the kitchen. Must be seen! Great Location, easy to get to shopping and Transit. Everything has been updated, 2 new full baths! Move in and relax! Weeping tile, windows, wiring, shingles (2011). 655 Upper Wellington Street, Hamilton | $249,900

What a Doll House!

Exclusive Scenic Drive!

Trendy Beach Blvd.

3 bedroom home with 1Â˝ car garage on double size lot with room for 10 car parking, features new shingles, updated furnace, updated kitchen and bath, new flooring, get in fast shows like a dream. Available for immediate possession. 419 Upper Sherman Avenue, Hamilton | $269,900

Picture perfect home with a secluded yard backing onto a 5 acre protected woodlot. Gorgeous pool and private oasis await you. House loaded with character. Many upgrades, kitchen, baths, $30,000.00 on pool 2014.Walk-up from lower level to pool. 726 Scenic Drive, Hamilton | $539,900

Spectacular & luxurious best describes this awesome beauty! Executive free hold townhome on waterfront trail with top quality finishes through-out, quartz, marble, porcelain, crown moulding, and oversized terraces, steps away to downtown Burlington & quick access to QEW. 1085 Beach Blvd., Hamilton | $849,900

Picturesque & private Â˝ acre 4 bedroom family home in the country, features beautiful hardwood floors, open and inviting sun filled rooms, oversized country kitchen, updated shingles, vinyl windows, minutes to all amenities. 1506 Guyatt Rd, Glanbrook | $429,900

Over 1 acre

Call Today 905-575-7700

August 2015

The Golfi Team Real Estate Market Watch

Hamilton, Stoney Creek Ancaster, Dundas & Glanbrook

Page 5

Rob Golfi*

Sought After Location

Gorgeous city and waterviews!

The word “Plateau” is in its namesake.

4 bedroom, 2.5 bath family home nestled in a sought after community of Marshall Estates in Ancaster. Open concept main floor, no carpet w/lovely view of backyard & mature trees. Master w/double doors, seating area, walk-in closet & ensuite. Spacious hallway & ldry rm on 2nd flr. 223 Braithwaite Avenue, Ancaster | $499,900

Character filled home with many modern touches. Large 4 bedrooms, 2.5 baths, lovely sun room with city views. Lower level rec room and 4 piece bath. 1.5 detached garage with long drive, in-ground pool, new kitchen, bathroom, heating/ cooling/wiring and much more. 144 Mountain Park Avenue, Hamilton | $539,900

Custom home built on half acre lot. Fully finished basement w/second kitchen, 2 cold cellars & walk out, oversized Barzotti kitch w/sliding drs leading to pool sized fenced lot, sunken family room, dining rm large enough for any size family. 36 Hilts Drive, Stoney Creek | $739,900

Bring your Cheque Book!

Gorgeous Condo!

Walk to New Stadium!!

Beautiful Stoney Creek location! “Success Model”! Great design for families, laundry on second floor and a “true’ double car garage. Appliances included. Upgraded, flooring, granite counters, master bathtub, interior doors, rear deck, cabinets and more. 121 Crafter Crescent, Stoney Creek | $489,700

Old meets new w/all the modern upgrades, granite counters, marble in bathroom, Cathedral cabinets in kitchen w/Crown moulding & under mount lighting, glass tile backsplash, island, stainless appliances, private balcony. Hardwood & ceramic throughout. Access to rooftop terrace at 86 Herkimer. 2-260 Bay Street South, Hamilton | $349,900

Same Tenant long term. Need 24 hour notice for showings. Tenant pays $700 month and all utilities, no lease.Third floor would make a great family room or another bedroom. Tenant will leave w/90 Days notice. 752 Cannon Street E., Hamilton | $149,900

Hot Hamilton Location!

Stunning design!

Main floor Tenant pays $695.00 month, upstairs Tenant pays $995.00 month. Landlord pays utilities. ESA approved electrical & fire retrofit ‘14. Tenants are on a lease. Furnace rental & maintenance is $59.00 month. Laundry in basement. 23 Century Street, Hamilton | $259,900

This 3200 sq.ft. romantic home with dream lot features wide maple staircase with wrought iron, solid hand scraped hardwood floors, wonderful family size custom kitchen with granite counter tops, showcase stone fireplace in family room, in floor heating in bathrooms & more. 400 Hamilton Drive, Ancaster | $1,349,000

Attention downsizers, first time buyers and investors!

WaTerFrONT

Handy Downtown bungalow, 2 bedroom, furnace in 2011, windows in 2011 and roof in 2000. Close to buses, entertainment and shopping. Being sold "as-is, where-is.” 213 Rebecca Street, Hamilton | $169,900

WaTerFrONT

Fulfill your waterfront dream!

Dream hobby farm for horse lovers!

Waterfront gem!

Lakefront! 3000 sq ft 3 bedrm, 2 storey. Updates include kitchen with granite, marble floors, windows, ensuite. Centre hall plan with separate dining room, main floor laundry, main floor family room. Stunning 79 ft frontage on private road. 24 Lakeshore Drive, Stoney Creek | $949,900

Scenic 37+ acre property w/lrg home, barn (4 'soft mat’ stables), & run-in. Close to HWY access & city conveniences. Beautiful eat-in kitch, living rm w/wood stove, lrg foyer, 3 BRs & many extras. 2832 Glancaster Road, Ancaster | $824,900

Romantic waterfront home, this custom built gem in private cul-de-sac features, no lawn maintenance w/private pool & balcony something you see in a travel magazine. Open and inviting floor plan, with large sunny bright window, riparian rights and shore protection in place. 8 Trillium Avenue, Stoney Creek | $1,049,900

www. GolfiTeam .com

Page 6

The Golfi Team Real Estate Market Watch

August 2015

Grimsby, Lincoln West Lincoln & Niagara

Rob Golfi*

5.5 acreS

Spectacular, Luxurious & Immaculate

Seconds to Brock University

602 ft Frontage

This awesome beauty, features gorgeous hardwood throughout, main floor master bedroom suite, full in-law set up in basement, wonderful family size kitchen, prof. landscaped w/in-ground salt water pool w/waterfall. Shows like a dream! 24 Heathcote Ct., Grimsby | $879,900

2 Storey home with 3 large BRs on the Upper lvl w/4 pc bath. Eat-in kitch, sep. DR & lrg LR. Fin. basement w/3pc bath. Updates Incl: shingles, A/C, fence (2015) basement bath & enlarged basement window within past 3 yrs. Close to bus routes & Quick Access to 406. 3 Romy Crescent, Thorold | $219,900

Zoned light industrial and commercial with 5.5 acres and 602 feet of frontage on Durham Rd. 23 Durham Road, Beamsville | $989,900

Great Opportunity for Country Living

Lovely semi-detached

245 ft Deep Lot!

Country home on an acre lot w/a waterfall pond & gazebo in backyard. 2 sheds, dbl garage w/9 car parking & stamped concrete. Main flr master BR w/his & her closets & ensuite w/new shower. Custom kitch, ceramic flrs & hrdwd. 2nd flr w/loft & 3 BRs. Fin. bsmnt w/theater/games rm/gym & bath. 2281 Silverdale Road, West Lincoln | $499,900

2+1 semi-detached with open concept living, hardwood throughout main level, master bed with double closet and 4 pc ens. Basement finished with extra bedrm and full bath. Parking for 4 on driveway and above ground pool. 74 Golden Acres Drive, Smithville | $289,900

Here’s your chance to snag a quaint, old home on a 66 x 245ft. lot for a friendly price. The home owner has done some nice “core” work to the house including cabinets, tile, floors, doors, trim & light fixtures. This lot has plenty of size to add onto the garage or expand the foot print of the home. 8917 Thorold Stone Road, Niagara Falls | $189,900

WaTerFrONT

Over $30,000 in Upgrades!

One of a Kind!

Beautiful Lakefront Property

2683 sq.ft. Custom Woodhaven Losani Built. 4+1 BRs 3-1/2 bath, fully fin. basement w/bedrm/ensuite. Main flr family room features gas FP, Lrg LR/DR, Main Flr Laundry. Large Master BR w/walk-in Closet & 4 Pc Master Bath. Close to all amenities. Seconds from QEW. 17 Udell Way, Grimsby | $539,900

4 bedroom bungalow on Jordan Harbour. Very private setting for this one of a kind offering. Plenty of updates over the years such as roof, windows, septic, cistern, wiring etc. In-ground pool with newer liner, pump and chlorinator. 4123 21st Street, Vineland Station | $524,900

60 by 174 foot lot with steps to the beach. Large master bedroom and 2nd bedroom has been turned into the den. Large open concept living room, eat in kitchen and large space for dining. Lots of windows to enjoy the beautiful view of the lake. In law suite above double car garage. In ground pool (as is), mature gardens, lots of parking. 47 Lakeside Drive, St. Catharines | $689,900

WaTerFrONT

Lake Ontario Views

Outstanding home on beautiful treed lot

Views of the Canadian and US shores

2 storey 4 bedroom home with over 4000 sq ft of living space. Newer kitchen, ensuite bathrm, basement. Home finished on all levels with views of Lake Ontario from upper level, basement complete with sunroom and walk-out to pool area. Close to marina, town and schools. 24 Stone Gate Drive, Grimsby | $699,900

Situated in fantastic elevation perched into the Niagara Escarpment, this custom built 2300 sq.ft. raised ranch has everything you need, main floor laundry, vaulted ceilings, palladium windows, upgraded wood trim & hardwood private yard. 303 Main Street West, Grimsby | $599,900

5 bedroom home on the most prestigious street in Niagara Falls includes in-law w/nanny suite, in-ground pool, sunroom w/built in hot tub, landscaped yard w/sprinkler system, eat in kitch, family room w/wood fireplace. Updates: roof ‘12, Furnace ‘13, AC in in-law suite, Water pump 14, interior & exterior painted in ‘12. 10185 Niagara River Parkway, Niagara Falls | $799,900

Call Today 905-945-0188

August 2015

The Golfi Team Real Estate Market Watch

Grimsby, Lincoln West Lincoln & Niagara

Page 7

Rob Golfi*

21.3 acreS

Commuter’s Delight in Mississauga

Circa 1864 Manor!

49 Acre hobby farm, 30 acres are bush

Tastefully renovated throughout w/quality materials, this 3 BR Townhome is ready to just move in. Low maintenance fees, well managed, quiet complex in Clarkson 2 minutes to GO Station. Easy access to QEW, schools, shopping & all amenities Clarkson has to offer. Your Family will love it! 2440 Bromsgrove Road, Unit 77, Mississauga | $350,000

Beautifully restored country manor with addition on 21.3 acres bordering Beamer Falls and the Bruce Trail. This classic red brick home is located 5 minutes from Grimsby’s town centre. Call for details. 140 Ridge Road, Grimsby | $1,289,900

This property features a 35x55 ft. galvanized steel barn, large parking or truck yard with stone and asphalt grindings on top, large 42 ft. drilled well plus Cistern, 3 level side split with large family room addition built in 1968, and high basement. Needs a little bit of work to get it looking lived in again. Available for immediate occupancy. 7683 Young Street, West Lincoln | $499,900

BUilDiNG lOT

To be built, make it your own! 2 storey executive four bedroom home, 2800 sq. feet features 9 ft. ceilings, 2 car garage, main floor laundry, large eat in kitchen, ensuite bath with walk in-closet, ceramics, & hardwood floors. Similar “To Be Built,” “taxes “NOT SET.” 52 Kenmir Avenue, Lot #46, St. David’s | $749,900

Brick Victorian on 99.39 acres of very productive farm land 70 acres workable & 30 acres of bush, large 2.5 storey 4 bedrm brick Victorian farm house with large barn & workshop. New cistern 3yrs, new septic 1 yr, shingles & furnace 4 yrs. Possible 4 acre severance available call for details. 489 Kemp Road West, Grimsby | $725,000

Business Opportunity - RM2 Zoning

¾ acre site centrally located in the downtown area, permitted uses; apartment dwelling, boarding or lodging dwelling, home for the aged, nursing home, group home, private home daycare. Call for details on permitted uses. Lot #201 Academy Street, Beamsville | $369,900

Large Bedrooms!

Nearly 30 acres along Twenty Mile Creek!

Own your own vineyard!

3 storey 1520 sq.ft. freehold townhome features 9ft. ceilings, 3 great size bedrooms, master with ensuite and walk-in closet, large eat in kitchen, rear yard backs onto pond, 1.5 car garage and minutes to all amenities. To be built. Taxes are “not set”. 5074 Cassandra Drive, Unit 12, Beamsville | $319,900

Newly built 2 storey home, with in-law sitting on nearly 30 acres. 3 bedrm home w/ open concept living, 1 bedrm in-law w/ basement rec rm. Original barn, 43x24 ft garage/workshop & office. Property borders Twenty Mile Creek, beautifully picturesque. 4426 #6 Regional Road, St. Anns | $849,900

Approximately 28 Acres Parcel with 24 acres of vineyard planted. 6 Acres-Sauv Blanc, 6 Acres-Gamay, 5 Acres-Cab Sauv, 5 Acres-Merlot, 1 Acre-Chardonnay, 1 Acre-Sauv Coronation. Home has had some interior updates & new 3500 gallon cistern. 4266 Greenlane, Beamsville | $1,199,900

WaTerFrONT

8 acres of Merlot currently planted with Water Views!

Lakefront with 16 acres of vines already planted!

Water Views! Approx 19 acre parcel with fantastic views of the water. Farmhouse currently rented. Great opportunities! Can be purchased with adjoining Sann Road property. Great Opportunity! 4558 Lakeside Drive, Beamsville | $1,199,900

Approx 21 acres property. Build your dream on lakefront parcel or create your own winery. Can be purchased with adjoining Lakeside Dr property. Great Opportunity! 4921 Sann Road, Beamsville | $1,499,900

www. GolfiTeam .com

vacaNT cOmmercial lOT

Vacant Commerical Lot – NEW PRICE! VACANT COMMERCIAL LOT 40x140 ft. located walking distance to downtown Beamsville and QEW. Services are on the road. Call Rob Golfi today at 905-945-0188 for a private viewing. Thank you for visiting my website and I look forward to hearing from you. 4946 Maple Avenue, Beamsville | $79,000

Page 8

The Golfi Team Real Estate Market Watch

August 2015

Luxury Homes & Waterfront Properties

Rob Golfi*

WaTerFrONT

Creating Dreams on the Water

Beautiful Lakefront Property

Fulfill your waterfront dream!

Century home with old world charm & updates. Large living/ dining room with unobstructed views of water, newer eat-in kitchen, main flr den & new master bedroom with ensuite and walk out to second level deck. Addition has 2 bedrooms and home theatre. Remodelled front porch with new reinsulated wood siding on front. Newer boiler & water treatment system. 4142 Lakeshore Road, Beamsville | $599,900

60 by 174 foot lot with steps to the beach. Large master bedroom and 2nd bedroom has been turned into the den. Large open concept living room, eat in kitchen and large space for dining. Lots of windows to enjoy the beautiful view of the lake. In law suite above double car garage. In-ground pool (as is), mature gardens, lots of parking. 47 Lakeside Drive, St. Catharines | $689,900

WaTerFrONT

Stunning design!

21 Acres - 16 acres vines planted!

Quiet lakeside neighbourhood condo

Approx 21 acres property with 16 acres of vines planted. Build your dream on lakefront parcel or create your own winery. Can be purchased with adjoining Lakeside Dr property. Great Opportunity! 4921 Sann Road, Beamsville | $1,499,900

Immaculate 1200 sqft., 2 BR unit in fantastic condition has open & inviting flr plan w/vaulted ceilings. Features oversized great rm w/gas fireplace & lrg windows looking out to gorgeous Lake Ontario, sliding door leading to balcony. Avail. for immed. occupancy. 515 North Service Road, Unit #58, Stoney Creek | $399,900

WaTerFrONT

30 acreS

37+ acreS

Romantic waterfront gem!

Nearly 30 acres along Twenty Mile Creek!

37+acres for horse lovers!

This custom waterfront home built on a private cul-de-sac features, no lawn maintenance w/private pool & balcony something you see in a travel magazine. Open and inviting floor plan, with large sunny bright window, riparian rights and shore protection in place. 8 Trillium Avenue, Stoney Creek | $1,049,900

Dream hobby farm for horse lovers! Scenic 37+ acre property w/lrg home, barn (4 'soft mat’ stables), & run-in. Close to HWY access & city conveniences. Beautiful eat-in kitch, living rm w/wood stove, lrg foyer, 3 BRs & many extras. 2832 Glancaster Road, Ancaster | $824,900

WaTerFrONT

21.3 acreS

Views of the Canadian and US shores

Dorchester estates sweet spot!

Circa 1864 Manor!

Spectacular Custom built home backing onto the escarpment offering in-ground salt water pool, hot tub, all on a prestigious court. Features granite kitch counters, porcelain tiles, stainless steel appliances, main flr LR/DR, den or office, bonus great rm, hardwd flrs, lrg master suite. 28 Heathcote Court, Grimsby | $789,900

Call Today 905-575-7700

August 2015

The Golfi Team Real Estate Market Watch

Page 9

Many Canadians would Struggle if Mortgage Payments Grew Slightly: poll

survey by Manulife Bank of Canada says nearly half of Canadian homeowners are taking steps to whittle down their mortgage debt, but many would be in trouble if their monthly payments grew even slightly. Manulife says 18 per cent of homeowners made extra lump-sum payments towards their mortgages in the past year, while 17 per cent increased their regular payments. Another five per cent of respondents did both. In total, 40 per cent of the homeowners polled made extra mortgage payments during the past year, while 60 per cent did not. The average amount of additional mortgage payments was $6,300. Manulife Bank of Canada's president and CEO Rick Lunny said it's encouraging that many homeowners are taking steps to reduce their mortgage debt. However, the survey also found that more than a third of homeowners polled would face financial hardship if their mortgage payments increased by just 10 per cent. "Having your payments go up 10 per cent sounds like a lot, but if you have a $200,000 mortgage and interest rates go up one per cent, that's a 10 per cent increase in your mortgage payments,"

Lunny said. "So there's not much room here for those people."

go up, because they're at historical lows and have been for some time," Lunny

Meanwhile, another 15 per cent of homeowners said they couldn't handle any increases at all in their mortgage payments. "It's inevitable that interest rates will

said. However, Lunny noted that 79 per cent of those polled said they would be willing to cut back on discretionary spending, such as eating out, in order to get out of

debt — an indication that there is more wiggle room in their budgets than they may realize. "These people probably, better than they think, would have the ability to make their mortgage payments, but it would have an impact on their lifestyle," Lunny said. Manulife polled 2,372 Canadian homeowners in all provinces between Feb. 10 and 27. Respondents were all between the ages of 20 and 59 and had a minimum household income of $50,000. The polling industry's professional body, the Marketing Research and Intelligence Association, says online surveys cannot be assigned a margin of error because they do not randomly sample the population. The Manulife survey found that Canadian homeowners are carrying an average of $190,000 in mortgage debt, with Albertans carrying the heaviest debt load — an average of $242,300. That's followed by $217,300 in British Columbia, $196,900 in Manitoba and Saskatchewan and $193,000 in Ontario. Atlantic Canada has the lowest average mortgage debt, at $127,300. By Alexandra Posadzki, The Canadian Press

How the Bond Market Meltdown could push Fixed Mortgage Rates Higher

n increase in mortgage rates is likely just around the corner, a situation that might push some consumers to lock down their rates. Given that five-year Government of Canada bond yields have climbed about 40 basis points in the last month, and mortgage rates track bonds, it makes sense to try to get a rate guarantee if you are shopping for a house, Rob McLister of ratespy.com says. “There is an inclination to recapture some of the spread [between bond yields and mortgage rates],” says McLister, who expects up to a 15-basis point increase on

the five-year. Consumers might consider getting pre-approved for a mortgage before they buy a home – an option that offers a guaranteed rate for as much as 180 days. “I got an email from one lender suggesting we may see something in the coming days,” said Vince Gaetano, a principle at monstermortgage.ca. “I think it would be very prudent [to get preapproved]. The only reason people don’t is they are just lazy or don’t know when their mortgage is up for renewal.” A pre-approval usually involves some sort of credit check, which can affect

your credit score, but the impact is likely negligible for anyone with good credit. A rate guarantee nets you a higher rate most of the time and it rises based on how long you want a financial institution to guarantee the rate. Gaetano says 2.64 per cent can be guaranteed for 120 days on a five-year fixed rate mortgage, which compares with today’s going rate of 2.59 per cent for the same term. Rate hikes would occur as sales have dropped in Calgary and Edmonton. Prices have peaked in every market in the country with the exception of Vancouver and Toronto. And industry watchers say any

upward movement will probably not be enough to slow those markets or lift Alberta sales. Doug Porter, chief economist with Bank of Montreal, doesn’t think a small change will have much of an impact. “Every basis point matters but can it single-handedly cool markets? It will take something much more serious than that,” he says. “There is very much ‘the little boy who cried wolf’ story going on here.” By Garry Marr, The Financial Post

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The Golfi Team Real Estate Market Watch

August 2015

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Appraisers say Buyers Concerned about Inflated Home Prices

even in 10 Canadians who are planning to buy a new home within the next year are concerned that they will be paying a purchase price higher than the actual market value. Seven per cent of Canadians plan to purchase a home or property in the next year. These are among the findings of a national survey conducted by Ipsos-Reid on behalf of the Appraisal Institute of Canada (AIC). Thirty per cent of respondents who are not planning to purchase a property within the next year say the fear of paying a higher price than the market value has influenced their decision to purchase a home to a great extent (12 per cent) or some extent (18 per cent). The poll found that 34 per cent of those surveyed are not influenced at all by the fear of paying a higher purchase price in the next year. “In a hot market – particularly when there are multiple offers – purchase prices can be inflated. In those cases, the buyer is essentially being asked to pay more than the true value of the property. This has potential implications for the buyer should they choose to sell this property in the future, or the lenders who provide mortgage financing,” says Keith Lancastle, CEO of the Appraisal Institute of Canada (AIC).

“As we saw in the global financial crisis, over-inflated real estate prices had a significant impact on the economy in a number of countries. It has been shown to affect the stability of a country’s lending system, the real estate market and – most importantly – consumers. The sound regulatory system and market valuation fundamentals within Canada’s real estate sector were the reasons that Canada fared better than so many other countries,” says AIC president Scott Wilson. Almost three-quarters of survey respondents who are planning on buying a property soon are somewhat likely (44 per cent) or very likely (30 per cent) to hire a real estate appraiser if they were to buy or sell a property in the future.

Mortgage Amount

$200,000 $220,000 $240,000 $260,000 $280,000 $300,000 $320,000 $340,000 $360,000 $380,000 $400,000

Monthly Payment

Bi-weekly Payment

$651.55 $716.70 $781.86 $847.01 $912.17 $977.32 $1,042.48 $1,107.63 $1,172.79 $1,237.94 $1,303.09

$300.59 $330.65 $360.70 $390.76 $420.82 $450.88 $480.94 $511.00 1.85% $541.06 $571.11 $601.17 Purchase Financing available OAC

As of July/August 2015 OAC

PURCHASE FINANCING AVAILABLE OAC

Crossword puzzle (Solution on Page 10)

SUDOKU 2 7

3 4

6 6

8 8

9 4 7 8 1 2 3 5 6

8 3 1 4 6 5 9 2 7

3 9 8 1 4 7 5 6 2

7 1 5 9 2 6 4 3 8

4 6 2 5 8 3 7 1 9

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7 6

the Solution 2 5 6 3 7 9 8 4 1

14 15 16 17 19 21

Financial supporter (6) moves towards (5) muslim (7) See how the land lies (informal) (5) Recount (7) value highly (6) tending to look on the dark side of things (11) military convenience – reliant (anag) (7) Emblems of royalty (7) Fails to meet (6) mammon (6) australian operatic soprano, d. 1931 (5) pretend to be (5)

5 2 4 6 9 8 1 7 3

1 2 3 5 6 7 8

6 8 3 7 5 1 2 9 4

Down

1,4,9 leader of the 1745 Jacobite uprising (6,6,7) 10 French landscape painter, d. 1875 (5) 11 Home to the Derby and the oakes (5) 12 ooze (7) 13 illicit trading (5,6) 18 neck of land (7) 20 tactless remark (5) 22 Eddy (5) 23 positively unfriendly disposition (3,4) 24 playground device (6) 25 leg and loin of venison (6)

1 7 9 2 3 4 6 8 5

Across

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.

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*Source: Appraisal Institute of Canada (2014)