December 1, 2013 Issue 84

WHAT’S INSIDE: When Decking the Halls, Remember Less is More PAGE 9

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

HOMES FOR SALE Hamilton, Stoney Creek, Ancaster, Dundas & Glanbrook Listings PAGE 8

December 2, 2013 - Vol 59

Rob Golfi Sales Representative

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

905-945-0188

Page 2

The Golfi Team Real Estate Market Watch

December 2, 2013

Gen Y too cool for suburban life?

About Rob Golfi

R

ob’s career in real began in estate 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 HamiltonBurlington 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.

S

ettling to the suburbs for the picture perfect life may be the goal for many, but not for Generation Y who want it all on their doorstep in the city.

The high price of buying in the city is a small sacrifice for a slice of the action, or so believes the young guns who want the live/work/play lifestyle right on their doorstep.

That is according to a new report by PWC which highlights the recent “return to cities’ trend. John Bunting, the report’s author, says this generation is increasingly choosing in-town living and highrise apartments or townhouses over suburban subdivisions, house-andyard lifestyles.

Winnipeg’s downtown core is enjoying a revival thanks to the high demand for condo dwellings. “We are seeing a lot more buyers choose the condo market over the singlefamily home. There is a great vibe downtown core and that adds to its incentive,” says Peter Squire, director of Public Affairs at WinnipegRealtors.

While condo development is expected to slow down considerably in 2014, the PWC report says they expect demand to continue in the “medium term” which should “contribute to a reasonable ongoing market for new projects in a ‘more normalized cycle’.”

Crossword Solution

“Aging baby boomers get tired of shoveling snow and navigating roads during harsh winters, genYers are attracted to better job opportunities and a glamorous city life.”

It’s a trend that is “reaching every part of the country” and not just the traditional business districts, such as Toronto and Vancouver.

For example,

‘LIKE’ us on Facebook The Rob Golfi Team Remax

www. GolfiTeam .com

December 2, 2013

The Golfi Team Real Estate Market Watch

Page 3

GET YOUR

HOME SOLD CALL NOW!

905-575-7700

1

#

Freelton Fre reelt elton

905-945-0188

Hamilton Burlington Niagara Burlington Burlington

Waterdown Waterdown

Dundas Dund das

Hamilton Hamilton

Ancaster Ancaster

Mount Mount Hope Hope

Stoney Stoney Creek Creek

Award 100%

Club

1999-2001*

Award Platinum

Club

2002*

Award

Chairman’s

Club

2003-2009*

Grimsby Grimsby

Lincoln Lincoln

Binbrook Binbrook

Thorold Thorolld

West WestLincoln Lincoln

Pelham Pelham

Niagara Niag gara Falls Fal alls

**

Welland Welland d

Wainfleet Wainfleet Wai

11 RE/MAX TEAM IN CANADA

#

Niagara Niag garaa on onthe th he St.St. Lake Lake Catharines Catharines

***

Port Por ortt Colborne Colborne

Fort FortErie Erie

40 RE/MAX TEAM WORLDWIDE

#

Award

Hall of Fame

Inducted 2003*

***

Award Lifetime

Achievement

Inducted 2006*

Award

Diamond

Club

2010-2012*

Award Circle

of Legends

2013*

* Based on RE/MAX Ontario Atlantic Canada annual commission criteria. **Information based on recorded total transactions, buying and selling ends, from the REALTORS® Association of Hamilton-Burlington Jan. -Aug. 2013. ***Source: RE/MAX® Canada and RE/MAX® International 2012.

Rob Golfi Sales Representative

Sharon Stafford Sales Representative

Heather Reid Sales Representative

Wendy Murray-Nicholson

Sales Representative

Hans Marcelissen Sales Representative

Mike McNeil Sales Representative

Kristina King Sales Representative

John Hellicar Sales Representative

Dan Golfi Sales Representative

Jeff Golfi Sales Representative

Violet Lowe Sales Representative

Outstanding Team. Exceptional Results Call Today 905-575-7700

Rosemary Fournier Co-ordinator

Melissa Davidson Office Manager

Page 4

The Golfi Team Real Estate Market Watch

December 2, 2013

Grimsby, Lincoln West Lincoln & Niagara

Rob Golfi*

WATERFRONT

Grimsby

$569,900

Grimsby

$279,900

Grimsby

$885,000

334 Mud Street West

47 Tomahawk Drive

143 Lake Street

48 ACRE HOBBY FARM - minutes to town & QEW, features 2 storey with 3 bedrooms and 2.5 baths, hardwood 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.

GREAT NEIGHBOURHOOD – 3 bedroom, 2 storey, detached home close to QEW. Features spacious living/dining room, large kitchen with oak cabinets and lots of counter space. Unspoiled basement awaits your touch. Concrete drive, fenced yard, large deck with hot tub. Shingles 2007.

FABULOUS FIND – Exclusive listing to the Golfi Team.

Beautiful Waterfront lot sitting on 140 x 183 ft. lot on private culde-sac, build your dream home on the shores of lake Ontario, services include sewers, water and gas to lot line.

$2,276 per/mth P&i / O.A.C.

WellAnd

$424,900

$3,535 per/mth P&i / O.A.C.

$1,118 per/mth P&i / O.A.C.

Grimsby

$335,000

smithville

$410,000

190 Creekside Drive

541 Winston Rd., Unit 47

55 Las Road

Uniquely designed open concept 3 bedroom bungalow home approximately 2000 sq.ft.! Upgrades include maple kitchen, granite, hardwood, porcelain tiles, stone gas fireplace, 9 ft. ceilings, upgraded lighting and plumbing fixtures, and a large covered patio.

IMMACULATE FREEHOLD 2 STOREY END UNIT – Built by Brant Haven homes, features 1576 sq.ft. of luxury living by the lake, 3 bedrooms with ensuite bath and walk in closet, gorgeous hardwood/ceramic & berber floors, bedroom level laundry, unspoiled basement with rough in bath.

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.

$1,697 per/mth P&i / O.A.C.

$1,338 per/mth P&i / O.A.C.

$1,638 per/mth P&i / O.A.C.

GET YOUR

HOME Grimsby

$344,900

37 Pleasant Grove Terrace Updated 3+1 bedroom family home, all 4 levels finished, large living room/dining room combination with large eat in kitchen.

Corner gas fireplace in family room, 4th bedroom with beautifully updated bathrooms, great rec room area perfect for playroom, office or media area. Beautifully decorated.

SOLD CALL NOW!

905-945-0188

Grimsby

$425,000 25 Red Haven

Outstanding & immaculate bungalow – features gorgeous hardwood floors, cathedral ceilings, master bedrm with ensuite & walk in closet, main floor laundry, finished rec-rm in lower level, double garage with concrete driveway.

$1,697 per/mth P&i / O.A.C.

$1,378 per/mth P&i / O.A.C.

Grimsby

$259,900

10 Wentworth Drive, Unit 4 DESIRABLE COMMUNITY - Extremely well taken care of 2 bedroom unit in fabulous condition, features large spacious kitchen, full ensuite bathroom, professionally finished basement with large rec-room, and yard with great patio area. Very desirable adult community and close to all amenities.

$1,038 per/mth P&i / O.A.C.

beAmsville

$69,900

4455 Timothy Lane Mobile home in immaculate condition w/private yard backing onto vineyards in Golden Horseshoe Park. 2 bedrm, separate dining rm, laminate flring throughout, vaulted ceilings, dble parking. Home is on Leased Land $491.34/mth, fee includes property taxes, water, snow removal & garbage collection.

$279 per/mth P&i / O.A.C.

West linCOln

$659,900

5050 Canborough Rd Waterfront bungalow with loft! 2.2 acre property with all the bells and whistles. Granite, Jatoba Cherry hardwd, massive interlocking patio with hot tub, open concept layout, main floor office. Stunning views of the Welland River complete this one of a kind offering.

www.golfiteam.com

$2,636 per/mth P&i / O.A.C.

December 2, 2013

The Golfi Team Real Estate Market Watch

Page 5

Grimsby, Lincoln West Lincoln & Niagara

Rob Golfi*

West linCOln (st. Anns) $539,900

beAmsville

$291,900

Grimsby

$649,900

5476 Attema Crescent

4080 Cassandra Dr. Unit #21

511 Main Street West

CUSTOM BUILT HOME –sitting on 1.11 acre lot in prestigious crt, family size kitchen with maple cabinets, granite counters & breakfast bar, gleaming hardwd flrs, showcase fireplace w/overhead space that can hold a 55” flat screen, 9 ft. ceilings, 40 pot lights, & water filtration system.

3 storey 1900 sq.ft. end unit freehold townhome features 9ft. ceilings, 3 great size bedrooms, master with ensuite and walk-in closet, large eat in kitchen, rear yard backs onto park, double car garage and minutes to all amenities. To be built. Taxes are “not set”.

If quality is important, this house is for you! Custom built home in 2004 sitting on ½ acre features maple kitchen w/granite counters, cove ceilings w/pot lights, Brazilian cherry hardwd flrs, professionally finished basement w/fireplace, oversized dble car garage, concrete drive & back patio.

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

$1,202 per/mth P&i / O.A.C.

$2,596 per/mth P&i / O.A.C.

Should I list my house over Christmas?

T

is the season to be jolly...but is it the season to sell property? One of the most sought after house selling tips is “when is the best time to sell my property?” and when it comes to discussing Christmas, opinions are divided. This is because there are both advantages and disadvantages to selling your property over the holidays.

One major practicality issue is the fact that many people choose the Christmas break to go on vacation. An obvious consequence of this would be a reduction in the number of potential buyers, but don’t overlook the possibility that your real estate agent might be taking some time off too! It is important to ensure that you have all your resources available to you if you plan to sell your house during this period.

The buyers who do continue to scout the market over the holidays may be suspicious of your houseselling motivations, wondering why you are devoting your time to getting rid of the property rather than opting to relax with your fam-

ily. They might assume that you are in a desperate situation and need to sell your house quickly to relieve yourself of a financial debt or because you have already bought another home. If they believe that you are impatient to sell, buyers are more likely to make offers lower than the asking price with the result of either diminishing your profits or needlessly dragging out negotiations until you are satisfied.

However, others may argue that selling your property during Christmas can actually attract a better price for your house. During the holidays, the number of houses on the market decreases, reducing competition between sellers and increasing competition between buyers. As buyers bid to secure your home for themselves, they may end up offering far more than you originally asked. People who seek properties during the holiday months are usually fairly serious about purchasing and it is likely that you will make a quick sale as most buyers would want to have moved in and settled before the

new year.

Christmas can also enhance the attractiveness of a property, not only because the first month of summer will provide a bright, sunny setting for your house but also because the festive season can make your home seem even more inviting. You can use this to your advantage by using some simple staging tips to guide your Christmas decorating efforts.

Choose tasteful decorations and use them sparingly. In preparing your home for sale, you have probably removed a lot of clutter and you don’t want to undo all your hard work by replacing it with an excess of decorations. You are aiming to capture the holiday spirit whilst giving the illusion that your home is larger and more spacious than it really is.

As such, try and replace your usual human-sized Christmas tree with something smaller, perhaps a table-top tree which can double as a centrepiece on the sideboard. If you are an avid fan of banners, try opting for a more natural theme by using evergreen garlands instead.

Pack away any presents which may be laying around or restrict them to one corner in an attractive arrangement (try using groupings of 3 or 5). Try and keep religious items to a minimum; you want the buyer to visualise themselves living in your home and this can be difficult if they are constantly being bombarded by reminders of your beliefs.

Removing religious items will also serve to protect your privacy.

Should you decide that the sale of your house will benefit from being listed over the Christmas period, be sure to follow these simple tips and you will soon be free to enjoy the happy holidays with some extra cash in the bank!

Call Today 905-945-0188

MAXIMUM EXPOSURE

SELLS YOUR HOME 905-575-7700 www.GolfiTeam.com

Page 6

The Golfi Team Real Estate Market Watch

December 2, 2013

Variable vs. fixed mortgage rates

W

here does mortgage money come from?

The variable rate mortgage and the fixed rate mortgage are very different in terms of how they are funded. Fixed mortgages are bonds purchased by a mortgage lender, sold as a mortgage to a home buyer and then re-sold as a income based security back to the financial market.

Variable rate mortgage products are based on the prime lending rate.

This is a fluctuating yard stick used by the Central Bank in Ottawa to determine borrowing rates on all loans in Canada.

It is impacted by the value of the dollar relative to other currencies and it regulates the amount of money that is being bought by the chartered banks from the federal reserve to service Canadian borrower's needs. The strength of the economy and the inflation rate determines the level the prime is held at when the Governors of the Bank of Canada meet every few months.

Due to the economic crisis in 2008, governments around the world, including Canada, have agreed to hold their prime lending rates low in order to keep borrowing costs attractive to consumers. This measure has been responsible for economic growth in all of the major industrial countries for the last five years and has helped stave off a deeper recession than what would have been experienced otherwise.

Like in all things however there

is a consequence. The result of low rates in Canada has been positive for Canadian's purchasing real estate as it has extended affordability of housing drastically. Recent changes to the lending practices of Canadian lenders has been required so that the housing boom does not become a bust as values exceed a reasonable level.

These measures include reductions of amortizations, tightening of borrowing rules for self-employed, and requiring variable rate mortgage shoppers to qualify on a prescribed rate of 5.34 per cent.

Presently, mortgage rates are in the range of 2.6 per cent for a variable rate mortgage and 3.49 per cent for a five-year fixed rate. Before knowing which product to chose you must understand how they work.

Fixed-rate mortgages Fixed mortgage rates are based on bond futures. They are a fixed contract where your payment does not increase for the duration of the term. You are "locked in" to a given rate and protected from rate fluctuations or increases. This is the mortgage most recommended for the following reasons; -Clients are risk averse.

-They have bought a property at the high end of their affordability range.

-Clients are not knowledgeable about borrowing and are more advised to take something secure.

- You can maximize your borrowing capacity with a low five

qualify based on a rate of 5.34 per cent due to recent rule changes. This may make a variable rate mortgage unattainable for many first time buyers.

Analysis Variable-rate mortgages are a good product if you have owned before and can tolerate the risks of not locking into a fixed-rate mortgage, which are still at historic lows.

They are a good choice if you can afford a shock of a much higher variable rate later should you miss the opportunity to lock into a fixed mortgage at a timely moment.

Variable rate mortgages are less expensive but only relative to what is available in fixed term mortgages at closing. Pundits will advise that the variable rate is always a better choice although that is only true in the last five years as rates declined due to government intervention.

I believe the rate cycle is moving upward. As a historic perspective, the prime lending rate is typically in the 5 per cent range in a healthy economy. In the end, the decision to take a 2.60 per cent variable rate is a good one provided rates remain low for some time in order to save on interest costs, while not missing the golden opportunity to lock into rates in the 3.49 per cent range. When rates do trend upward, it will be a permanent move to rates in the 5 per cent range.

Bruce Flanagan is a mortgage agent with VERICO Premiere Mortgage Centre.

year fixed rate of 3.49 per cent, versus qualifying at a prescribed rate of 5.34 per cent.

Variable-rate mortgages Variable rate mortgages, by definition, can change with market conditions at anytime. They are less expensive at this time as they represent today's cost of funds whereas fixed mortgages take a long term view with the understanding that rates will rise over time.

Variable rate mortgages are based on Bank of Canada prime less a discount. For example; -Prime of 3 per cent less .40 per cent is a borrowing rate of 2.60 per cent.

-Variable rate mortgages have an early renewal feature which allows you to lock into than prevailing fixed terms at any time. It is a parachute into a fixed rate product should you feel the need.

-Variable rates are more risky as the opportunity and timing of the lock in is up to the customer. Longterm rates based on the bond market will leap up well in advance of a change in prime as professional financiers make decisions on bonds well in advance of newspapers following the story. For example, the recent run-up in fixed mortgages in June from a 2.89 per cent, five-year fixed mortgage to 3.59 per cent happened in a matter of weeks. People who had variable money then would have been well advised to lock in prior to the run up, but likely missed the opportunity.

-Variable rate borrowers must

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December 2, 2013

The Golfi Team Real Estate Market Watch

Page 7

Meet Betty and Sue…………….

by Gianni Leonetti, Leonetti Consulting

I

Fund account.

first met Betty at a seminar where I was speaking about estate planning. She wasn’t happy with the interest rates she was being given at her bank upon the renewal of her GIC’s and was looking for alternatives to out-pace inflation. Betty learned about Segregated Funds and liked the estate planning benefits however wondered what kind of returns she could get. I informed her that she had a full range of choices from cashable GIC’s to Bond Funds, as well as Dividend and Equity Funds.

Unfortunately Betty passed away before we could move everything over and still had $100,000 in a GIC at the bank that wasn’t maturing for another 3 years.

This is when I met Sue, who contacted me a few days after her mothers passing. We met to complete the one page claimant’s form and assured Sue that I was available in the event she needed any assistance as the executor of her mother’s estate. Sue was hopeful that the job wouldn’t be that difficult, since her mother named her as joint owner on her GIC and her bank accounts. About 10 days later I contacted Sue to let her know the proceeds from the Segregated Funds were ready to be couriered out to her and

We met at a later date for a personal consultation, Betty felt that Segregated Funds were the best solution and decided to invest in Bonds and Dividend Funds. As her GIC’s were coming due, we kept moving the funds over to her Segregated

CROSSWORD PUzzLE (Solution on Page 2)

asked how things were going at the bank????

Sue was very frustrated that the bank would not grant her access to her mother’s bank accounts even though she was a joint owner and told her that she would have to wait until the maturity date to access the funds invested in the GIC. I explained to Sue that due to recent Supreme Court rulings on the grey area of intent of joint accounts, that banks are now erring on the side of caution and not automatically releasing funds to joint account holders. The bank was insisting on waiting for the Certificate of Estate Trustee which is issued AFTER the will has been probated.

It ended up that it took over 11 weeks for Sue to gain full

access to her mother’s bank account and she still hold the GIC- awaiting it’s maturity date. Sue clearly saw the benefits of investing in Segregated Funds and asked if she was old enough to invest in them. I chuckled and assured her that Segregated Funds weren’t only for seniors, but investors of all ages who are looking for downside protection, principle guarantees, creditor protection and the ability to name a beneficiary or a trustee without having sacrifice performance.

Sue has since moved all he assets to me, including her inheritance…and as soon as that GIC matures; we will transfer that over as well!!

Contact Leonetti Consulting at 905-690-5052 or visit our website at www.leonetticonsul ting.com.

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Call Today 905-575-7700

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Page 8

The Golfi Team Real Estate Market Watch

Rob Golfi*

December 2, 2013

Hamilton, Stoney Creek, Ancaster, Dundas & Glanbrook WATERFRONT

hAmiltOn eAst

$239,900

stOney Creek

$1,769,900

hAmiltOn eAst

$179,900

186 Craigroyston Road

9 Lochside Drive

103 Garside Avenue North

FANTASTIC LOCATION in sought after east Hamilton neighbourhood close to schools, & shopping. Big house w/two bedrms on main floor w/separate dining room, large eat in kitch & huge living rm. Basement mostly unfinished w/new water line & loads of storage. Fenced rear yard w/shed & 3 car side drive.

ONE ACRE WATERFRONT ESTATE – features Luxury 4400 sq.ft. custom built bungalow with a private rare beach frontage and riparian rights, finished top to bottom with in-law suite, 9’ ceilings, 3 tier patio off sun-room, loft to roof top patio, main floor den, and floor to ceiling windows. Shows like a dream!

Exceptional 3 bedroom bungalow in desirable area. Very clean & well cared for by long term owner. Furnace ’13, newer windows, roof & C/A less than 10 yrs old. Large updated kitchen, fully fenced yard w/2 sheds. Rear drive easily added from alleyway.

Bigger than it looks!

$7,069 per/mth P&i / O.A.C.

$958 per/mth P&i / O.A.C.

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

WATERFRONT

hAmiltOn mtn

$259,900

Grimsby

$885,000

hAmiltOn mtn

$249,900

10 Warren Avenue

143 Lake Street

84 Fernwood Crescent

LOCATION, LOCATION, LOCATION!! Sought after area on Hamilton Mountain, walk to major shopping, schools & park.

Updated brick bungalow with large rooms, sunroom addition and walkout to private yard and deck. One bedroom would make a great dining room. Room in basement for a bedroom.

FABULOUS FIND – Exclusive listing to the Golfi Team.

Beautiful Waterfront lot sitting on 140 x 183 ft. lot on private culde-sac, build your dream home on the shores of lake Ontario, services include sewers, water and gas to lot line.

Maintained by the same family since 1955 & it shows! All major updates have been done including a new roof (‘13) w/35 yr shingles, high-efficiency furnace (‘12), central air (‘11), Beverly Hills windows in ‘07, an owned hot water heater, renovated main bath w/a Heritage bath Jacuzzi walk-in tub.

hAmiltOn West

hAmiltOn eAst

$3,535 per/mth P&i / O.A.C.

$1038 per/mth P&i / O.A.C.

$349,900

$134,900

$998 per/mth P&i / O.A.C.

stOney Creek

$319,900

100 Beddoe Drive, Unit 37

761 Burgess Ave.

81 Irene Ave.

LOCATION ROCKS!!! Walk to Innovation park, McMaster University, and minutes to 403 HWY. Looks out onto Chedoke Golf Course. Bedroom and large rec-room w/fireplace in lower level. Loads of storage, freshly painted, granite counter in big eat in kitchen w/lots of cupboards.

LOCATION, LOCATION!! One floor plan with lots of updates, plumbing and bathroom, electrical 100 amps on breakers, furnace 2009, interior waterproofing w/sump pump, shingles 10 years, kitchen cabinets and counters. Close to Red hill and QEW, walk to beach and Globe park.

Amazing space in this fabulous bungalow! Features beautiful original hardwood floors, mostly updated vinyl windows, professionally finished basement with in-law set up, oversized single car garage, shingles 5 years new, fenced yard, fantastic size lot, close to all amenities.

$1398 per/mth P&i / O.A.C.

stOney Creek

$314,900

$539 per/mth P&i / O.A.C.

stOney Creek

$274,900

134 Benziger Lane

366 Celtic Dr.

Freehold end unit townhouse in Winona, open concept main floor with 9ft ceilings. Brick & stone exterior, dbl garage w/inside entry. Master bdrm has generous walk-in closet and 4pc ensuite bathroom, laundry room is located on bdrm level for convenient access. Basement is unspoiled and configured to maximize space.

PRIME STONEY CREEK LOCATION!! Beautiful 2 storey home features hardwood flooring, new carpet on stairs and bedrooms, sunken great room with fireplace and big windows overlooking private yard, spacious bedrooms, updated main bath and updated double concrete drive. Close to Mohawk College.

$1258 per/mth P&i / O.A.C.

$1278 per/mth P&i / O.A.C.

hAmiltOn eAst

$419,900

295 Nashville Circle STUNNING FULLY FINISHED TOP TO BOTTOM!!!! Move in and enjoy the rec-room with gorgeous oak wet bar. Loft outside bedroom area and office/den on second floor. Hardwood floors on main level with gas fireplace, walkout to generous backyard w/patio. Great location with easy HWY access.

$1677 per/mth P&i / O.A.C.

$1098 per/mth P&i / O.A.C.

GET YOUR

HOME SOLD hAmiltOn Ctr

FAST

$139,900

213 Rebecca Street Cute and Cozy Doll House! – This 2 bedrm bungalow located near the downtown core, features new windows 2011, new furnace 2011, shingles 2000, private fenced back yard, located near busses and shopping. $558 per/mth P&i / O.A.C.

CALL NOW:

905-575-7700

hAmiltOn eAst

$127,900

95 Hope Avenue 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.

YOUR HOME COULD BE WORTH MORE THAN YOU THINK

www.golfiteam.com

$511 per/mth P&i / O.A.C.

December 2, 2013

The Golfi Team Real Estate Market Watch

Page 9

Here’s why you should always initial all pages of a real estate purchase offer of land owned by Satish Kumar and made an offer on June 28, 2011.

After negotiation, Batra agreed to pay $4,040,000 and offered a deposit of $100,000 with a closing date of July 28, 2011. The deposit was supposed to be paid within 48 hours of acceptance.

S

ome homebuyers wonder if every page or change on a real estate contract needs to be separately initialed by both parties to make it legal. The short answer is no, but if it is initialed, it is better proof that all terms were brought to everyone’s attention should things go wrong.

Here’s a story of what can happen when things get missed.

In the spring of 2011, Sushil Batra and his wife were looking for a property in Surrey B.C. to open a store selling wholesale and retail cloth. Batra found a two-acre piece

Money Monitor: Are you ready to own property?

Batra’s offer said that the deposit would be paid to the Century 21 real estate brokerage in trust. When it was signed back and accepted by the seller, the words “Century 21” were removed and replaced with “direct to seller.” The words “in trust” were not removed.

The clause was initialed by the seller, but not by the buyer, Batra.

Batra paid the deposit to the real estate brokerage a few days later on July 2. He later found out that Kumar had sold the property to someone else on July 14, completing the deal one week later on July 21. Batra sued for damages of

$300,000, an amount outlined in the agreement if the deal did not close because of the fault of the seller.

Kumar argued that there was no deal with Batra because the deposit was paid late and to the wrong party. In addition, since the deposit language change was not initialed

by Batra, the contract was void.

The judge disagreed. In a decision dated June 21, 2013, Madam Justice Barbara Fisher of the B.C. Supreme Court decided that even though the deposit clause was not initialed by the buyer, it did not result in the contract being void.

She added that even if the parties were not in agreement on this issue, there was a binding contract, as the parties had agreed on the essential three elements of the contract, namely the parties, the property and the price, a principle laid down by the Supreme Court of Canada in 1920. She also noted that the words “in trust” were not deleted by the seller. So even if there was no final agreement on where the

deposit would be paid, it would not make the contract void.

The judge was also satisfied that the contract was not finally accepted until June 29 or 30 so the deposit was in fact paid in time as well.

When contract terms are ambiguous, a judge is permitted to hear evidence from the parties involved in order to correct any ambiguity. It was clear from the decision that the judge preferred the evidence given by Mr. Batra, the buyer, who was awarded the $300,000.

The main lesson is that it makes much more sense to make sure that all contract changes and pages are initialed by both the buyer and the seller, so that there is no confusion or unnecessary legal expenses later.

Written by Mark Weisleder, a Toronto real estate lawyer.

For local representation, please contact Philip Anthony Kuca (P.C.) B.A. (Hons.), LL.B., Centennial Law Group in Stoney Creek, at pkuca@cenlawgroup.com or 905-526-0736.

When Decking the Halls, Remember Less is More snow, leaves, ice, and other winter debris.

Also, make sure all porches are clear as well as entryways to basement or storage buildings.

A Picture Is Worth... – Because weather can be a deterrent, be sure to take high-quality photos of the house for the growing number of buyers starting their search for the perfect home online. Also, consider shooting a video tour of the home as you’ll be competing with holiday plans and bad weather. It’s the next best thing to seeing the property up close.

Try to provide spring and summer photos of your home and property so buy-

D

ecember is approaching and for many of us that’s a time of year when dreams of real estate are far, far away.

It’s a time when thoughts drift to gift buying and receiving, cooking and baking, decorating our homes and offices, socializing with loved ones and earning the money needed to do all of those things with the style we’ve grown accustomed to. We think of family members and friends and the dynamics at play in all of our social relationships are ramped up tenfold.

It’s no wonder that selling real estate during the holidays is an even bigger challenge. There’s that belief by some that sellers trying to unload their homes at this time of year will be viewed as desperate. Some even think it’s best to take homes off the market then. There’s also a belief by some that any offers clients receive in December will be unreasonably low in keeping with the view that the sellers are anxious to unload their property.

For many, having your home on the market as you’re trying to trim your tree, roast chestnuts and bake shortbread can be a nightmare in logistics. How do I keep my place presentable with all the comings and goings associated with Christmas? A moment’s notice is a tall order during the busy month of December. On the other hand, buyers

donning coats, mittens and scarves to ward off the chilly temperatures may show that they’re more serious.

If you have showings on your list this December, here are a few tips worth passing on: Dim your decorations – You don’t want your house looking like a scene out of National Lampoon’s Christmas Vacation. Whether you’re celebrating Christmas, Kwanzaa, Hanukkah or another faith-based holiday, prominently displayed menorahs, angels and other religious symbols can be a distraction for potential buyers. Understated lights and decorations are best. Garish displays could be considered offensive not just to aesthetic sensibilities but also to different religions and cultures.

Remember that large is not always better. Huge decorative shows such as Christmas trees and nativity scenes might evoke the spirit of the season but they could make a room look smaller so be careful.

Outdoor Christmas lights are better left off during the showing so that the buyers can focus on the home instead of the lights.

Think about shortening your decor period this year. Can you reduce the time of your display to two weeks instead of three, four and five?

Always clear pathways and your driveway before a showing. This includes

ers can get a sense of how it looks when trees are in full bloom or when the pool water is sparkling in the summer sunlight.

Make it Christmas Cozy – While it may not be a good idea to play up the holidays when it comes to decorations, giving your home that cozy Christmas feeling doesn’t hurt. Play soft music, display homemade treats on a decorative tray, and keep the thermostat at a comfortable temperature. Baking muffins or a pie just before a showing isn’t a bad idea because it fills the air with a homey, comforting scent.

“If snow is made from water and water has no calories, how come snowmen are fat?”

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Page 10

The Golfi Team Real Estate Market Watch

December 2, 2013

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