August 4, 2014 Issue 99 by The Real Estate Market Watch

WHAT’S INSIDE: Is “airbnb” legal in Ontario? PAGE 6

HOMES FOR SALE Grimsby, Lincoln, West Lincoln & Niagara Listings PAGE 5

Waterfront | PAGE 3 Hamilton, Stoney Creek, Ancaster, Dundas & Glanbrook Listings PAGE 9

August 4, 2014 - Vol 67a

5143 Oakwood

Testimonial

Rob Golfi Sales Representative

The experience and service that the Golfi Team gave us was incredible. We had a tremendous amount of showings on our home and it was advertised strongly until it was sold. I would definitely recommend Rob and the Golfi Team to anyone looking for results. Anemarie & Sam Lattuca

HOME EVALUATION NO COST • NO OBLIGATION

905-575-7700 • 905-945-0188

Page 2

The Golfi Team Real Estate Market Watch

About Rob Golfi

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.

August 4, 2014

Seniors Real Estate Specialist is a designation for REALTORS® to address the needs of home buyers and sellers, age 50-plus.

where the future takes shape

If you are buying or selling a home,

contact Rob Golfi today.

Rob Golfi Sales Representative

905-575-7700

Visit www.GolfiTeam.com Check out our Blog for the latest information in Real Estate

www. GolfiTeam .com

August 4, 2014

The Golfi Team Real Estate Market Watch

Page 3

Waterfront WATERFRONT

WATERFRONT

STOnEy CREEk

$774,900

63 Edgewater Drive stunning view of the Lake! this beautiful waterfront 4+1 bedroom home makes you feel like you are away from home! Main floor offers open concept with sliding doors to the patio. have your morning coffee on the patio and sit back and enjoy the sound of the water! 2 master bedrooms with ensuites.

FORT ERIE

3723 Niagara River Parkway

$3,194 per/mth P&I / O.A.C.

WATERFRONT

$737,000

37 Edgewater Drive wOw! the lakefront view is breathtaking! newport Yacht club. 4 Brs, master w/ensuite, 2 way gas FP, & 9ft sliding door w/gorgeous view! Main flr is open concept w/hardwd flrs & FP in living rm, sliding doors to concrete deck inground lit path & fire pit at the lake’s edge. Fully finished basement!

GRImSby

WATERFRONT

$1,669,900

188 North Service Road

$6,665 per/mth P&I / O.A.C.

WATERFRONT

$589,900

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! $2356 per/mth P&I / O.A.C.

STOnEy CREEk

WATERFRONT

$1,149,900

$949,900

12 Campview Road

1083 Beach Boulevard trenDY BeaCh BLvD – 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 $3,794 per/mth P&I / O.A.C.

WATERFRONT

GRImSby

$955,000

143 Lake Street FaBULOUs FinD – exclusive listing to the golfi team. Beautiful waterfront lot sitting on 140 x 183 ft. lot on private cul-de-sac, build your dream home on the shores of lake Ontario, services include sewers, water and gas to lot line. $3,814 per/mth P&I / O.A.C.

WATERFRONT

$619,900

hAmIlTOn EAST

extraordinary 1/3 acre waterFrOnt home on quiet private road w/2 storey grand foyer! Breath-taking views of Lake Ontario & Cn tower. Open concept, 9' ceilings, gourmet kitch w/granite counters. 3 Brs, 3 full baths, 2nd floor ldry. Master suite w/walk-in closet & ensuite. Backyard professionally landscaped.

WATERFRONT

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.

$2,944 per/mth P&I / O.A.C.

STOnEy CREEk

$799,900

Breathtaking views from every room sitting on 2 acres! this 4+1 bdrm home features floor to ceiling windows, Oak hardwds, main flr master suite, irrigation sprinkler system, aerobic septic bed, backup gas generator, furnace 6yrs new, roof 3yrs new, gardeners greenhouse & a nicely landscaped yard!

$3,095 per/mth P&I / O.A.C.

STOnEy CREEk

WATERFRONT

FORT ERIE

hAmIlTOn EAST

$949,900

1085 Beach Boulevard trenDY BeaCh BLvD – 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 $3,794 per/mth P&I / O.A.C.

WATERFRONT

$849,900

STOnEy CREEk

$374,900

131 Edgewater Drive

1645 Niagara Parkway

515 North Service Road, Unit #2

this is a 10++ LOCateD at newPOrt YaCht CLUB, biggest lot! Private Marina, new $60,000 designer gourmet kitchen with top-of-the-line sub-zero fridge & wine storage, wolfe 6 burner gas stove, miele dishwasher, granite counter top with built-in island!

CUstOM BUiLt hOMe facing the niagara river, four large bedrooms, plus finished attic with roughed in bath for a fifth bedroom. solid oak doors and trim throughout. Unspoiled basement with walkout. new C/a, Furnace ‘01. roof ‘05. Does not disappoint!

$2,476 per/mth P&I / O.A.C.

$3,395 per/mth P&I / O.A.C.

LakeFrOnt! 2 storey open concept end unit features 17 foot ceiling in living room, kitchen w/ granite/undermount lighting, walk-in pantry, 2 bedrooms on main level with full bathroom. Upper level master suite with ensuite. $335/mth condo fees $1,497 per/mth P&I / O.A.C.

CONGRATULATIONS TO: IS PROUD TO ANNOUNCE THIS YEAR’S

WINNER!

Peter Vennell & Kelly Watkinson WINNERS of a one year lease on a 2014 Kia Soul* 664 Fennell Ave. E., Hamilton, Ontario L8V 1V1 Hamilton: 905.575.7700 | Grimsby: 905.945.0188 Toll Free: 1.800.288.9184 | Fax: 905.575.1962

Kia of Hamilton 1885 Upper James St., Hamilton Ontario L9B 1K8 Dealership: 905.547.7726 | Sales: 1.877.432.7294

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Call Today 905-575-7700

Page 4

The Golfi Team Real Estate Market Watch

August 4, 2014

Most Canadian millionaires are Self-Made and almost Half are Immigrants, poll shows Seeking the American dream? Come to Canada.

n one of the most comprehensive studies of our nation’s affluent, analysts report that two-thirds of Canada’s millionaires are self-made. strikingly, almost half the nation’s high net-worth individuals are either immigrants or first-generation Canadians, compared to just one-third of millionaires in the U.s., and nearly seven in 10 of them generated their own riches. “Canada has always been positioned as a place of opportunity; with this study, we’re able to validate that,” said Yannick archambault, vice-president and chief operating officer of BMO harris Private Banking, which commissioned the study. “(immigrants) bring a strong work ethic, a lot of determination and entrepreneurship.” according to the report, 48% of Canadian millionaires are either immigrants (24%) or first-generation Canadians with at least one parent born outside Canada (24%). Of this group, 68% say their wealth is self-generated. analysts also find that the face of prosperity doesn’t necessarily have a five-oclock shadow. although males still account for the majority of moneyed Canadians, females represent one-third of those with a net worth topping $1 million – up from just 21% three years ago. among these movers and shakers is susan niczowski, whose summer Fresh salads business tops $100 million in sales; ann kaplan, the mother of six behind multimillion dollar company iFinance Canada inc.; eveline Charles, founder of the eponymous salon brand; construction mogul kelsey ramsden; and allison Byrne, COO of rocky Mountain Liquor inc – a company where two-thirds of the executive and 80% of front-line managers are women.

“women are more empowered, more knowledgeable and more interested in personal finance now (than in the past),” said archambault, who describes the trend as the product of educational initiatives promoting women in business, increased female interest in financial markets, changes to family structure (more men staying home with the kids), and government policies encouraging equality. a federal committee, for instance, is currently developing proposals to boost the number of women with board seats in publicly traded companies, while the Ontario government recently unveiled plans for reforms that would compel companies to disclose their gender equity stance in annual filings. Other key takeaways from the BMO study: 67% of Canadian millionaires earned their wealth on their own steam; 20% attribute at least part of their affluence to an inheritance; and the remainder came to money in other ways, such as a divorce settlement or through a spouse. Just 4% of high net worth Canadians are under age 40, compared to 24% of high net worth americans. education is one of the largest predictors of big bucks: eight in 10 Canadian millionaires possess at least an undergraduate university degree, 46% have a graduate or professional degree, 10% have a technical, trade or apprenticeship degree, and just 9% hold a high school diploma or less. the online survey of 305 Canadian adults with $1 million or more in investable assets was conducted by Pollara March 28 to april 11. a probability sample of this size is considered accurate within 4.5 percentage points, 19 times out of 20. Misty Harris, Postmedia News

Although males still account for the majority of moneyed Canadians, females represent one-third of those with a net worth topping $1 million – up from just 21 per cent three years ago. Among these movers and shakers is Susan Niczowski, whose Summer Fresh Salads business tops $100 million in sales. Other key takeaways from BMO study:

67 per cent of Canadian millionaires earned their wealth on their own steam; 20 per cent attribute at least part of their affluence to an inheritance; and the remainder came to money in other ways, such as a divorce settlement or through a spouse. Just four per cent of high net worth Canadians are under age 40, compared to 24 per cent of high net worth americans. education is one of the largest predictors of big bucks: eight in 10

Canadian millionaires possess at least an undergraduate university degree, 46 per cent have a graduate or professional degree, 10 per cent have a technical, trade or apprenticeship degree, and just nine per cent hold a high school diploma or less. the online survey of 305 Canadian adults with $1 million or more in investable assets was conducted by Pollara March 28 to april 11. a probability sample of this size is considered accurate within 4.5 percentage points, 19 times out of 20.

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 $99,900 32 Available

Bungalows/ Raised Ranches Starting at $179,900 81 Available

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Bungalows/ Raised Ranches Starting at $169,900 28 Available

Bungalows/ Raised Ranches Starting at $269,900 20 Available

Bungalows/ Raised Ranches Starting at $164,900 34 Available

two Storeys Starting at $149,900 17 Available

two Storeys Starting at $247,500 113 Available

two Storeys Starting at $74,997 11 Available

two Storeys Starting at $264,900 30 Available

two Storeys Starting at $278,649 69 Available

two Storeys Starting at $214,900 49 Available

two Storeys Starting at $334,900 39 Available

Semis & town Homes Starting at $134,900 30 Available

Semis & town Homes Starting at $135,000 41 Available

Semis & town Homes Starting at $57,900 38 Available

Semis & town Homes Starting at $229,900 20 Available

Semis & town Homes Starting at $192,900 33 Available

Semis & town Homes Starting at $197,900 22 Available

Semis & town Homes Starting at $225,000 31 Available

Call Us Today for Information on Any of these Homes!

905-575-7700 • 905-945-0188 Call Today 905-945-0188

August 4, 2014

The Golfi Team Real Estate Market Watch

Page 5

Grimsby, Lincoln West Lincoln & Niagara

Rob Golfi* 2 AcREs

FORT ERIE

$799,900

bEAmSVIllE

$217,900

GRImSby

$449,900

GRImSby

$899,900

3723 Niagara River Parkway

4340 Central Avenue

375 Book Road, Unit 12

1 11th Street

what a DOLL hOUse! Clean & beautifully kept home in fantastic condition features shingles 6 years new, all thermal vinyl windows, gorgeous hardwd flrs under all broadlm, long concrete drive w/fenced yard & personal greenhouse backing onto church park, & close to all amenities. shows like a dream!

sPrawLing BUngaLOw – large lot sitting on a quiet street features an open and inviting floor plan with gorgeous hardwood floors, large sun filled country size kitchen, vinyl windows, shingles 8 years new, and over size garage.

everYthing DOne! new 40 yr. roof shingles & sheathing, ridge venting system, 3 season sunrm w/walk-out to wrap around back deck, outdoor shower, custom kitch w/wine fridge, stairs to lower-level waterfront deck w/ladder to beach/water, home audio distribution & more!

$3,194 per/mth P&I / O.A.C.

$870 per/mth P&I / O.A.C.

$1,794 per/mth P&I / O.A.C.

$3,591 per/mth P&I / O.A.C.

37 AcREs

bEAmSVIllE

$299,900

bEAmSVIllE

$474,900

4496 Comfort Crescent

4038 Bush Court

sOUght aFter LOCatiOn close to splash pad, parks, schools, Qew & conveniences! walk in & feel at home no expense spared boasts hrdwd flrs, ceramics, kitch island, back splash, gas fireplace, bedrm level laund., lrg Mbed w/ensuite, central vac, & fenced yard. Backs onto park!!

Large OPen COnCePt 2 plus 1 Brick Bungalow in great location, energy star home, high quality finishes, quartz counters, hardwood floors, upgraded windows, fully finished basement complete with 3 piece bathroom. Composite deck, interlock patio, retractable awing, large double car garage, main floor laundry.

$1,197 per/mth P&I / O.A.C.

GRImSby

$959,900

342 Kemp Road West CUstOM BUiLt home on 37 acres. Features nanny's quarters or 2 bedroom in-law suite, 2 fireplaces, gourmet kitchen, ceramics, vaulted ceilings, in-ground pool, 3 car gar. Barn w/13 stalls, 4 paddocks & a 60x140 arena. Minutes from town! $3,834 per/mth P&I / O.A.C.

$1,896 per/mth P&I / O.A.C.

$849,900

1645 Niagara Parkway CUstOM BUiLt hOMe facing the niagara river, four large bedrooms, plus finished attic with roughed in bath for a fifth bedroom. solid oak doors and trim throughout. Unspoiled basement with walkout. new C/a, Furnace ‘01. roof ‘05. Does not disappoint! $3,395 per/mth P&I / O.A.C.

BUILDING LOT

bEAmSVIllE

GRImSby

$429,900

202 Central Avenue Better than new CharaCter hOMe - Old world charm completely updated from top to bottom; new wiring, windows, shingles, furnace, kitchen with granite, bathrooms, refinished original hardwood floors, oak stair case, 2.5 car garage, private back yard with mature trees. shows like a dream!

$399,900

rM2 ZOning – ¾ acre land site centrally located 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.

bEAmSVIllE

$1,125,000

P/L#23 Durham Road ZOneD Light inDUstriaL anD COMMerCiaL with 5.5 acres and 602 feet of frontage on Durham rd. $4,493 per/mth P&I / O.A.C.

188 North Service 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. $6,665 per/mth P&I / O.A.C.

15 Lakeside Drive, Unit 39 3 bedroom townhouse with amazing views of the lake! resort style living. Large eat in kitchen, living room with corner gas fireplace, updated flooring, freshly painted. inground pool, large courtyard, private deck off patio doors, lower level finished. $1,010 per/mth P&I / O.A.C.

5127 Connor Drive FreehOLD townhome with escarpment views features an open & inviting floor plan w/solid oak staircase double island & breakfast bar, stainless steel appliances, California shutters, crown moulding, hardwd & ceramic flrs, master Br w/large closets & ensuite bath, & 1.5 car garage w/2 car drive. $1,13 7 per/mth P&I / O.A.C.

GRASSIE

WEST lInCOln

$539,900

7 Wade 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. $1,789 per/mth P&I / O.A.C.

GRImSby

$589,900

168 Saw Mill Road

hUnters & hOBBiests – everything has been done to this 3 bedrm raised ranch with 48x32 car garage or workshop, sitting on 10 acres with 7 acres of bush. Updates include windows & furnace 2011, updated kitchen cabinets with granite counters & backsplash, professionally finished basement and much more.

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. $2,356 per/mth P&I / O.A.C.

.5 AcRE

WEST lInCOln

$459 ,900

8058 Sheridan Court

2967 South Grimsby Road, #18

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

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.

$3,115 per/mth P&I / O.A.C.

$399,900

8326 3rd Concession Rd.

1 AcRE

$779,900

SmIThVIllE

1.36 AcREs

$2,156 per/mth P&I / O.A.C.

1.5 AcRE

$1,669,900

$252,900

10 AcREs

$1,597 per/mth P&I / O.A.C.

WATERFRONT

ST. CAThARInES

$1,717 per/mth P&I / O.A.C.

5.5 AcREs

Academy Street

GRImSby

$284,900

POssIBLE sEVERANcE

WATERFRONT

FORT ERIE

bEAmSVIllE

$1,837 per/mth P&I / O.A.C.

Call www.golfiteam.com Today 905-945-0188

JORDAn

$534,900 3662 Glen Road

rare FinD! - sprawling bungalow sitting on half acre ravine lot. 3+1 Br, large finished basement, landscaped yard w/treed ravine backdrop, great family home w/large addition to the rear, custom oak finishes w/large dining & Florida room overlooking the backyard. these kind of properties rarely come up for sale! $2,136 per/mth P&I / O.A.C.

Page 6

The Golfi Team Real Estate Market Watch

Is “airbnb” legal in Ontario? Airbnb.com is a website that connects travellers from all over the world to homeowners who are looking to make extra money by renting out their entire home.

August 4, 2014

Vancouver rents seen rising faster than home prices

ents are poised to grow faster than home prices in vancouver, rating agency DBrs predicts. in the long run, the rental market should move along with the housing market in any given city, DBrs suggests. But, as you can see in the chart below, home prices have grown much more quickly than the cost of renting in vancouver over the past decade or so. the second chart shows that the same thing happened – though more quickly – in the United states before the market there crashed, bringing prices back in line.

Ceramist and Airbnb host Jonathan Entler, left, and his Airbnb guest Megan Walsh, a Chicago writer on a summer internship, enjoy the afternoon in his Echo Park home in Los Angeles. While Airbnb's popularity is growing around the world, is it actually legal in Ontario?

friend told me that she went to the Caribbean for a holiday on a deal and it cost her $1,000 for 10 days. while she was away, she rented out her downtown toronto condo on airbnb for $1,500. sounds good. But is what she did legal in Ontario? here’s what airbnb is all about: airbnb is a website that connects travellers from all over the world to homeowners who are looking to make extra money by renting out their entire homes, or in some cases, an extra room, for short periods of time. in just 6 years, the company has grown to now have over 550,000 room listings available on their website. You hook up with your homeowner through the website and airbnb takes a cut of the money that you pay. You can see the appeal: travellers can find a place in some of the best parts of a city such as Paris, London or san Francisco and pay a fraction of what it would cost to stay in a hotel. some travellers prefer to stay in a private home so that they can obtain an authentic local experience. still others warn that you must do your due diligence in advance and check for references so you are not disappointed when you arrive. the company offers insurance to a host to cover some damages that may be caused by a traveller, but there are many exclusions, so read the policy carefully. the company, which doesn’t own any hotels, is now valued at over $10 billion, more than many of the large hotel chains. as you can imagine, the hotel industry

is not happy about this and some cities are fighting back. in new York City, for example, it is now illegal to rent your home for less than 30 days. Quebec has also passed laws against renting homes for short periods of time. is this legal in Ontario? while Ontario doesn’t have laws expressly forbidding renting your home for short periods of time, there are other matters to consider. For example, most condominiums have rules that do not permit short-term rentals. this is primarily due to security concerns, as the owners are wary of different people just showing up each night at a neighbouring unit. it is interesting that property addresses are not included on the airbnb website. But website visitors can still find out about the property through pictures, information about the hosts and reviews by other travellers. if you’re renting your condo out and anyone in the building complains, the board could bring an action against you and you will likely have to pay the board’s legal fees if you do not stop. i am also hearing that many tenants are also doing this without their landlord’s permission. this is probably a violation of Ontario’s residential tenancies act, since a tenant is not permitted to sublet their unit for an amount greater than what the landlord is charging. in most cases, the daily rent charged will be much higher than what the tenant is paying in rent. if you do rent out your home for short periods of time, you’d better advise your insurance company. while this may cause

your premiums to rise, failure to advise could result in your insurer denying coverage if something does happen during the stay, since the risk increases when strangers use your home. as you can imagine, the hospitality industry is not pleased with airbnb. tony elenis, President and CeO of the Ontario restaurant hotel and Motel association, sent me a list of all the regulatory burdens that hotel and motel operators must follow, including items such as having proper business and liquor licenses, health and safety requirements, proper signage and customer identification. as tony states: “the hospitality industry is extremely regulated and topping the list is the rules on health and safety of our employees and guests. we take pride in compliance here. this takes much training and understanding of meeting these objectives that only comes within a business structure and people involved in this profession.” even bed and breakfast companies must obtain proper licenses to operate from their local city and are subject to health and safety inspections to ensure the safety of their guests. if you want to make extra money on airbnb, be aware that if one neighbour complains, you may be shut down. if you want to use the site for a cheaper travel experience, remember to do a lot of due diligence in advance, to make sure you are not disappointed later. Mark Weisleder is a Toronto real estate lawyer. Contact him at

Check out the Top Real Estate Site for Hamilton Wentworth!

www. GolfiTeam .com

But DBrs does not foresee a crash occurring in vancouver. rather, it expects that a growing number of people will choose to rent rather than buy, driving rents up and softening the outlook for house prices. “it is more than likely that rental rates will increase at a faster rate than that of home prices going forward,” the rating agency says in a report. “Furthermore, a major correction seems unlikely given the long-term stability of the vancouver market.” it points out that vancouver is Canada’s most expensive city, with prices having almost doubled since 2005. But, in DBrs’s opinion, the lack of available land to develop homes on, coupled with population growth, should help insulate the housing market from shocks. vancouver’s population has grown 47.8 per cent since 1981, while new York’s has grown 17.8 per cent, it points out. vancouver home prices recently went through a slowdown, growing by only about 1.7 per cent per year for the post-recessionary period between 2008 and 2013, DBrs says. But they have rebounded recently. Tara Perkins, Real Estate Reporter, The Globe and Mail

Call Today 905-575-7700

August 4, 2014

The Golfi Team Real Estate Market Watch

Page 7

We SELL more... because we DO more! THE ULTIMATE SELLING TEAM SHARON STAFFORD

HANS MARCELISSEN

WENDY MURRAYNICHOLSON

MIKE MCNEIL

DAN GOLFI

JEFF GOLFI

CHRISTINE SERAFINI

ERIC PINI, B.A.

LAURA BIELAK

JENNIFER DRAHO

RoB GolFi SAlES REpRESEnTATIVE

www.golfiteam.com | 905.575.7700 | 1.800.288.9184

Crossword puzzle (Solution on Page 8)

SUDOKU 6

2 8 9

5 3 6 2

2 7 5

1 4 3 2

9 1 4 the Solution 8

9 6

3 1 2 5 9 4 7 8 6

7 3 1 9 4 5 2 6 8

6 5 4 1 2 8 9 3 7

9 2 8 7 6 3 4 1 5

1 6 7 8 3 2 5 4 9

5 8 3 4 7 9 6 2 1

2 4 9 6 5 1 8 7 3

www. GolfiTeam .com

8 8 7 1

Down 1 Equestrian discipline (8) 2 the long key (5,3) 4 Jokes (6) 5 Compulsive buyer (10) 6 Double-reed instrument (4) 7 Root-and-branch plant? (4) 10 Beetle — aphrodisiac (7,3) 12 Gospeller (8) 13 person who becomes a monster when the moon is full (8) 16 Festival of lights (6) 18 old middle Eastern ruler (4) 19 moggie (4)

8 5 4

Across 1 Hyphen — sprint (4) 3 Gorbachev's policy of "openness" (8) 8 mild oath — aged (anag) (4) 9 Group of countries using a common currency (8) 11 one dropping off (10) 14 (knotty?) relative (6) 15 Evening do (6) 17 absorb (10) 20 (For a German) ’er indoors (8) 21 Go away! (4) 22 temper tantrum (5,3) 23 academic (abbr) (4)

6 3

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

How Homeowner’s 1-year Rental ended up in Court

wning a rental property is not just about collecting the rent on time. it is also about making sure that your property is being properly maintained. if you are not careful, you can face expensive repair bills. a case that wound through the courts for almost a decade shows what can happen. in 2005, Mostafa said owned a home in Maple ridge, B.C. he wanted to take his family to his native egypt for a year and so hired Meadow ridge Classic realty to be his property manager. Meadow ridge would find a tenant and manage the property while he was away. Meadow ridge did find a tenant who trashed the house during her one year stay. when said returned he sued Meadow ridge for his damages. said could not afford a lawyer, so he sued in small claims court, where he claimed the maximum of $25,000 as his damages. the decision was rendered just a few weeks ago and B.C. small claims court judge t.s. woods awarded said the maximum $25,000. the management contract said that Meadow ridge would only be responsible for “gross negligence.” woods found that as a result of the failure of the property manager to properly qualify the ten-

ant, recognize red flags and inspect the property on a regular basis, they were grossly negligent in their conduct. the judge pointed out that had the property manager googled the tenant’s name, they would have discovered a story about her in 2004. it indicated she had a criminal record, involving drug offences and three children had been taken away by authorities in B.C. after a fourth child was mauled to death by dogs. in addition, the application form was incomplete, with no information about her employers, banking information or credit cards. no questions were asked as to how she could afford the $1,495 monthly rental when her previous rent had been $700. the property manager didn’t take any pictures at the beginning of the tenancy to prove what condition the property was in at that time and despite the fact that the first rent cheque bounced, no additional measures were taken to watch the property more carefully. instead, the tenant, two other adults and three children, described by the judge as “her entourage”, were permitted into the property. in addition, she rented out rooms to transients during her tenancy, all without permission, and placed locks on some of the doors to cre-

ate additional units in the home. Under Ontario law, a landlord is permitted to get into the rental unit by giving 24 hours notice to make repairs, show the property to potential buyers and view the state of repair. this does not mean the landlord can come every day or once a week. But an occasional inspection to determine if everything is in a good shape is acceptable. when you hire a property manager, ask how often they will attend to inspect your property as part of their management duties. also ask what checks they do to properly qualify any potential tenants. Use google to see if their social media information is consistent with their tenancy application. also make sure you document the condition of the unit when the tenant moves in so you can prove any damages that may occur during the tenancy. By doing careful screening in advance and conducting regular visits to your property, you will avoid any unpleasant surprises when your tenant leaves.

August 4, 2014

Correction Crossword Solution for July 14 issue

Crossword Solution for this issue

Mark Weisleder is a Toronto real estate lawyer. Contact him at mark@markweisleder.com

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August 4, 2014

The Golfi Team Real Estate Market Watch

rob golfi*

AnCASTER

Page 9

Hamilton, Stoney Creek Ancaster, Dundas & Glanbrook

$499,900

hAmIlTOn

$269,900

STOnEy CREEk

$332,900

STOnEy CREEk

$359,900

138 Kendrick Court

4207 Governors Road

Beautifully appointed home on Premium over-sized court lot in desirable ancaster. a MUst see! Bright maple kitchen with breakfast bar that leads to a 2 tiered deck overlooking greenspace. Main floor hardwood & ceramic with formal dining room! 4 bedrms & 2.5 baths with jetted tub in master bedroom!

sUn DrenCheD COUntrY hOMe. great country location, near the city. 4 bedrooms, big family room addition w/wood stove and walkout to private rear deck. walk to Lynden Park. numerous updates, some insulation and drywall, basement waterproofed, back roof re-shingled, vinyl windows.

1458 Baseline Road

37 Henley Drive

Beautiful 3 bedrm end unit townhome w/road fee of $76.43/mth, former model home, loads of upgrades! Open concept, hardwd flooring, gas fireplace, new patio, granite counters, gas stove, wood staircase, ensuite bath, bedrm lvl ldry, California shutters, pot lights, 9ft. ceilings & more.

amazing space in this fabulous 4 level back split sitting on 50x189 ft. lot in a fantastic neighborhood, features mostly updated vinyl windows, shingles 12 yrs. new, furnace 7 yrs., c/air 6 yrs., extra insulation in attic, finished basement w/rec-rm plus family rm w/ fireplace.

$1,997 per/mth P&I / O.A.C.

$1,078 per/mth P&I / O.A.C.

$1,330 per/mth P&I / O.A.C.

$1,438 per/mth P&I / O.A.C.

hAmIlTOn EAST

$179,900

hAmIlTOn EAST

$209,900

bRAnTFORD

$129,900

hAmIlTOn CTR

$294,900

11 Harrisford St. S, Unit #5

208 Glow Avenue

342 Dalhousie Street

673 King Street East

3 bedroom townhouse in great location! easy highway access, sunken living room, patio doors to rear patio, dining room, eat in kitchen finished rec room and more.

start PaCking!! all brick one floor plan w/separate side entrance, bsmt has a huge rec room, bedroom and 4 piece bath, Can YOU saY in-Law?!! Concrete drive, new 98 sq. foot storage shed, separate dining room. windows, shingles, kitchen and bath updated. Place shows 10++.

Location rocks!! short bus ride to wilfrid Laurier Campus. Convenient Location for tenants. Both units occupied on month to month. side parking and huge backyard. $475 + hydro/water upstairs and $650 + hydro/water downstairs. seller pays gas and water heater rental.

$838 per/mth P&I / O.A.C.

$519 per/mth P&I / O.A.C.

LOCatiOn LOCatiOn LOCatiOn! this incredibly maintained 2200 sq.ft. corner property with commercial frontage and 2 additional apartments features fantastic income, close to Cathedral high school, new roof 4yrs new, 14 ft ceilings, hardwd flrs, full basement with newer wiring & parking space in the back.

$719 per/mth P&I / O.A.C.

$1,178 per/mth P&I / O.A.C.

INcOME POTENTIAL

hAmIlTOn EAST

$99,900

hAmIlTOn mTn

$269,900

STOnEy CREEk

$449,900

95 Hope Avenue

37 Cliff Avenue

14 Hilts Drive

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.

sUPer MOUntain LOCatiOn! well-appointed 3 bedrm, 2 bath home! great family neighbourhood, fully finished basement w/walk up to backyard, lrg front porch & rear deck, & numerous updates. Furnace & new panel & wiring updates in ‘12. attic insulated June ‘13.

Live On the PLateaU! 4 bedm, 2 car gar, in-ground pool and lots more. well cared for home with eat-in kitchen open to family room, separate dining room and formal living room. Large basement with walk up to backyard.

$471 per/mth P&I / O.A.C.

WATERFRONT

STOnEy CREEk

$1,149,900

STOnEy CREEk

$619,900

131 Edgewater Drive this is a 10++ located at newport Yacht Club, biggest lot! Private Marina, new $60,000 designer gourmet kitchen with top of the line sub zero fridge & wine storage, wolfe 6 burner gas stove, miele dishwasher, granite counter top with built in island! $2,476 per/mth P&I / O.A.C.

WATERFRONT

hAmIlTOn mTn

$339,900

STOnEy CREEk

hAmIlTOn EAST

WATERFRONT

$949,900

STOnEy CREEk

$774,900

1087 Beach Boulevard

63 Edgewater Drive

trenDY BeaCh BLvD – 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

stUnning view OF the Lake! this beautiful waterfront 4+1 bedroom home makes you feel like you are away from home! Main floor offers open concept with sliding doors to the patio. have your morning coffee on the patio and sit back and enjoy the sound of the water! 2 master bedrooms with ensuites.

$3,794 per/mth P&I / O.A.C.

$3,095 per/mth P&I / O.A.C.

1 AcRE

$374,900

193 Parkwood Crescent

515 North Service Road, Unit 2

FantastiC LOCatiOn!! walk to Limeridge mall & parks. this home features a spiral staircase, main floor family room w/gas fireplace, separate dining room, laundry was on the main LvL and can be moved back, large partially finished bsmt and fenced rear yard with deck. shingles replaced in 2002.

$1,358 per/mth P&I / O.A.C.

MCMaster stUDent rentaL! Best location for student rental at Mac, on university side of Main street. same owner for 32 years, numerous updates with big garage. Four rooms not yet rented. $3000.00 a month income when fully rented and students pay utilities. walk to university, shopping and on main bus line. $1,917 per/mth P&I / O.A.C.

WATERFRONT

12 Campview Road

$479,900

14 Cottrill Street

$1,797 per/mth P&I / O.A.C.

$1,347 per/mth P&I / O.A.C.

hAmIlTOn WEST

$1,497 per/mth P&I / O.A.C.

STOnEy CREEk

$599,900

1489 /2 Highway #8

STOnEy CREEk

OUtstanDing & iMMaCULate custom built 1760 sq.ft. all brick bungalow sitting on one acre with 3 car garage, featuring beautiful hardwood through-out, stylish kitchen with granite counter tops, main floor laundry, partially finished basement with 3pc bath & rough in for kitchen.

$399,900

723 Ridge Road

BeaUtiFUL esCarPMent 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.

$2,396 per/mth P&I / O.A.C.

Call Today 905-575-7700

$1,597 per/mth P&I / O.A.C.

Page 10

The Golfi Team Real Estate Market Watch

August 4, 2014

Marketplace 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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