WHAT’S INSIDE: To find the Right Deal on a House, Strip Away All Emotion
HOMES FOR SALE | PAGE 8 Grimsby, Lincoln, West Lincoln & Niagara
HOMES FOR SALE | PAGE 4 Hamilton, Stoney Creek, Ancaster, Dundas & Glanbrook
PAGE 2
December 2015 - Vol 82
Rob Golfi Sales Representative
HOME EVALUATION NO COST • NO OBLIGATION 905-575-7700
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December 2015
The Golfi Team Real Estate Market Watch
Page 2
Ontario won’t expand the Municipal Land Transfer Tax beyond Toronto’s Borders
A
fter weeks of dithering, the Ontario government has ruled against expanding the municipal land transfer tax beyond Toronto’s borders. There is already a levy on all home sales collected by the province, and Toronto has a unique power to collect an additional tax. But more than a month after it was revealed Queen’s Park was considering allowing the province’s other 443 municipalities to collect the tax, Municipal Affairs Minister Ted McMeekin announced Tuesday the plan won’t move ahead. “Other than in Toronto, where the power already exists, our government will not be extending Municipal Land Transfer Tax powers to other Ontario municipalities,” he said. The provincial land transfer taxes ranges from 0.5 per cent to two per cent, depending on the value of the home. Toronto’s runs a similar scale. In Toronto, homebuyers pay an average of $12,000 in provincial and municipal land transfer taxes, according to the Ontario Real Estate Association, which lobbied hard against the change. On a $1 million home in Toronto, that bill rises to $32,200. In a red-hot housing market, that might not seem like a threat to realtors’ business, but they cautioned against allowing the tax to spread to spread to other cities. First-time home buys get a rebate of up to $2,000 for the provincial tax and nearly double that in Toronto. “Extending the power to levy the municipal LTT to Ontario’s municipalities would hurt the home market by adding thousands of dollars to the costs of residential transactions,” the OREA said in fact sheet about the hike. “The municipal LTT would price many low and middle income Ontarians out of the real estate market entirely.”
The Progressive Conservatives at Queen’s Park were equally critical, with deputy leader Steve Clark leading the charge against the municipal land transfer tax. He warned that expanding the tax would cost Ontarians upwards of $10,000 per home sale. That news came out of discussions the province was having with cities about how to increase their revenues and help them handle the costs of social services. In late October, it was revealed that landtransfer taxes were part of those talks. “Looking at the consultation we did, no one was asking for a land transfer tax and there was a campaign of misinformation in the house there, and it just made sense to me and to my caucus” to announce that change, McMeekin said Tuesday after question period, where he announced the sudden about-face. PC leader Patrick Brown lauded Clark’s work and the OREA for spreading the word and said he’s glad the Liberals changed course. I don’t know why the minister decided to get up in the middle of question period… to kind of pull something out of thin air and throw it on the table “I’ve said I’ll criticize the government when they make a bad decision; I will applaud them if they make a good decision. It is a good decision to back away from this,” Brown said. NDP leader Andrea Horwath said it’s curious the minister announced the change with consultations ongoing. She said many cities are still struggling to balance their books after years of service downloads and she wonders what the government will do now to help replace that possible revenue. “Municipalities are still in very bad shape,” Horwath said. “The topic had been discussed at a number of places (including) the Association of Municipalities of Ontario. I don’t know
why the minister decided to get up in the middle of question period… to kind of pull something out of thin air and throw it
on the table.” by Ashley Csanady, National Post
where the future takes shape
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December 2015
The Golfi Team Real Estate Market Watch
Page 3
To find the Right Deal on a House, Strip Away All Emotion
T
he blazingly hot 2015 real estate market is gradually winding down in Toronto as new listings dwindle and house hunters become distracted by holidays and year-end diversions. The Toronto Real Estate Board figures that when the final numbers are tallied, 2015 will mark a record year for sales and prices. In December, some listings continue to arrive on the market because of the life circumstances of the owners or because the property is a condo unit that doesn’t benefit from improving weather as much as a single-family dwelling does. At this point, many real estate agents are advising sellers to wait until 2016 to list their properties for sale. That way, the property will appear fresh when buyers turn their attention back to the lists of weekend open houses. But it’s also a time when negotiations heat up on houses and condos that are still sitting. Some figure that December is a good time to strike while rivals are busy and sellers may be weakening in their resolve. Rokham Fard, co-founder of TheRedPin brokerage, says lots of people are motivated to sign a deal before New Year’s Eve, but sometimes properties languish because buyers and sellers sabotage potential sales. “All of them have a component of mixing emotion and logic,” Mr. Fard says. Sellers, he says, tend to inflate the value of the house because they remember how much work went into the kitchen renovation and they build their memories of family occasions into the value. He points to the example of a seller that spurned many prospective buyers because they deemed the offers too low – even though the house had been on the
market for many months. The owner felt they would get what they thought the house was worth and not what the market was telling them the value was. The buyer, of course, is comparing the house with others on the market. “You have to really look at it as selling a product,” Mr. Fard advises homeowners. Take all of your own emotional attachments out of it. One downfall Mr. Fard sees among sellers is that they don’t make it easy for house hunters to see it by appointment. Those willing to set a time are usually far more committed than the neighbours who come through the weekend open houses, so they should be accommodated. “You should be at the mercy of the buyer,” Mr. Fard says. “If they want to see it on a Tuesday afternoon, you should make it possible.” He says even people selling their old phones in online advertisements seem to
understand that basic concept, but many sellers have such strong confidence in their home’s appeal that they think the buyer will accommodate the homeowner’s schedule. Instead, he cautions, the seller should be thinking about what other properties the seller might see instead. “If I am selling anything – even on Kijiji – I will make myself available.” Mr. Fard also warns against sticking around for that appointment or open house if you are the seller. Buyers need to be able to visualize themselves in that home. Usually, they can do that best when the family isn’t gathered around the kitchen table for lunch. He cites the example of shopping when a salesperson follows you around the store or won’t stop staring at you. All that does is make the customer uncomfortable, he says, and house hunters feel the same way.
“We’ve all felt that – where a salesperson is following you and you’re not in the zone any more. All you want to do is get out of the store.” He says potential buyers will be reluctant to discuss the home’s suitability in front of the owner because they don’t want to be disrespectful. But when a number of people are weighing in on a purchase, they need to be able to speak freely, he points out. As for buyers, he advises them to be realistic about their offering price – whether or not the house has drawn multiple offers. Putting in a lowball bid will often serve only to insult the seller. “The moment the seller sees you lowballing the offer or looking for a deal, they can feel disrespected,” he says. “They don’t want to take your offer because they think you’re not a motivated, serious buyer.” If competing bidders show up, knowing that there is an offer registered may only encourage them to make a higher bid, he says. And where there are no rivals, it’s still important to go in with a good offer, he says. If buyers truly believe the house is worth less than the asking price, that’s a valid position, Mr. Fard says, but the offer should still be strong. “It shows that you’re solid and motivated.” For both sides, he says, it’s about stripping away the emotional aspect from a business transaction. “It’s not about what you can get as a deal but what the market dictates about that home.” by Carolyn Ireland The Globe and Mail
CMHC Releases 2015 Third Quarter Results
C
anada Mortgage and Housing Corporation (CMHC) released today its third quarter financial report as well as complementary Mortgage Loan Insurance, Securitization, and Covered Bonds Supplements. CMHC provides mortgage loan insurance and securitization guarantee programs to facilitate access to mortgage financing and to contribute to the stability of the financial system. Consistent with our mandate, CMHC is present in all markets and through all economic cycles. During the third quarter, CMHC provided mortgage loan insurance for over 80,000 units across the country. Ensuring overall portfolio quality through prudent underwriting reduces the risk associated with the mortgage loan insurance business. An average credit score of 747 for transactional homeowner loans and an average gross debt service (GDS) ratio of 25.7% for the three-month period ended September 30, 2015 demonstrate a strong ability among homebuyers with CMHC-insured mortgages to manage their debts. The average insured loan amount for transactional homeowner mortgages in the quarter was $251,262. The strength of CMHC’s portfolio is reflected in the overall arrears rate which
was 0.35% as at September 30, 2015 while Claims Paid for the quarter totalled $76 million, a decrease of $38 million from the same period last year, as 2014 claims paid were high primarily due to the timing of payment processing. The total number of loans in arrears decreased slightly (3.8%) compared to year-end 2014. CMHC has a legislated limit of $600 billion of insurance-in-force. During the third quarter, total insurance-in-force decreased by $18 billion to $525 billion when compared to year-end 2014. CMHC expects insurance-in-force to decline gradually as normal mortgage repayments continue to offset new insurance written. CMHC’s securitization guarantee products facilitate access to funds for residential mortgage financing. New securities guaranteed for the third quarter were $31.9 billion, comprised of $22.7 billion for market NHA MBS and $9.2 billion for CMB. For 2015, the Minister of Finance has authorized CMHC to provide up to $80 billion for new guarantees of market NHA MBS and up to $40 billion of new guarantees for CMB. CMHC’s mortgage loan insurance and securitization guarantee programs oper-
ate on a commercial basis without support from Canadian taxpayers. During the quarter, CMHC generated $380 million in net income from these activities. CMHC works closely with provinces, territories and housing providers, including First Nations, to help low-income Canadians access affordable, better quality housing. For the three-month period ended September 30, 2015, CMHC provided more than $463 million for housing programs on behalf of the Government of Canada. To further enhance transparency and expand the availability of data, CMHC has also published Business Supplements in support of Mortgage Loan Insurance and Securitization, as well as a Covered Bonds Supplement which outlines the Corporation’s activities as Administrator of the Registered Covered Bonds program. These files contain a range of statistics and data on CMHC’s commercial activities and help readers better understand the business undertaken by CMHC. The supplements provide meaningful insight and provide market participants with data that will allow them to better analyze our activities in the Canadian housing market. These supplements will continue to
Call Today 905-945-0188
be released quarterly. A copy of the Quarterly Financial Report and the supporting business supplements are available at: http://www.cmhcschl.gc.ca/en/corp/about/core/core_001.c fm. Canada Mortgage and Housing Corporation (CMHC) has been Canada's national housing agency for almost 70 years. CMHC helps Canadians meet their housing needs. As Canada’s authority on housing, we contribute to the stability of the housing market and financial system, provide support for Canadians in housing need, and offer objective housing research and information to Canadian governments, consumers and the housing industry. Prudent risk management, strong corporate governance and transparency are cornerstones of our operations. For more information, follow us on Twitter, YouTube, LinkedIn and Facebook. Karine LeBlanc CMHC Media Relations kjleblan@cmhc-schl.gc.ca
Page 4
The Golfi Team Real Estate Market Watch
December 2015
Hamilton, Stoney Creek Ancaster, Dundas & Glanbrook
Rob Golfi*
Opportunity Knocks!
Land Value Only!!
Nothing but Countryside!
Currently used as commercial office and residence with separate entrances and hydro meters. Could be used as a residence. Large 20’ x 20’ block garage. Furnace and roof 2015, water heater 2013. Buyer to verify usage. 95 Ottawa Street North, Hamilton | $319,900
Fabulous find- Prestigious 3 acre lot with a 230 ft. frontage and 550 ft. deep, build any size home you want. Existing home upgrades include windows, roof, furnace, air conditioning, siding drilled well and electrical all within the past 10 yrs. Property also has cistern but not used at the present time. 764 Fiddler’s Green Road | $699,900
2500 sq.ft. bungalow on a private lot with unobstructed views! Sunken living room with fireplace and 18ft. vaulted ceilings. Gourmet kitchen with granite tops, ceramic flooring and inlay design. 3 bedrooms. Master with closets to ensuite. Basement with finished rec room, 2 bedrooms & 3pc bath with in-law potential! Private yard with deck, hot tub and swimming pool. 2325 Shaver Road, Ancaster | $779,900
Stunning 2 Bedroom Condo!
Redone 2-1/2 Storey Home
Stadium View!!
1324 sq.ft. 2 bedroom condo apartment! Master w/ensuite & walk in. Hardwood floors, pot lights, granite counters in kitchen. 2 underground parking spaces, exercise & party room for amenities. Close to shops, restaurants, mins to Ancaster Village & HWY. 125 Wilson Street West, Unit 109, Ancaster | $624,900
Hardwood throughout. Two separate kitchens. Main floor bedroom. Two separate entrances. Beautiful large deck with 2nd entrance to Upper Level Looking over 51 x 200 ft lot fully fenced. Close to malls, parks & public transit. Do not miss out! Property sold on an "as is" basis without representation or warranties. Chattels not included in any offer. 27 Centennial Parkway South, Stoney Creek | $377,900
1.5 storey, plenty of major updates: shingles and flat roof 2012, furnace 2011, windows vinyl, kitchen 2006, bathroom 2012, wiring 2007(panel and all knob & tube removed), Omni interior weeping and sump pump 2008, concrete drive and walkway. Close to everything don’t wait will be gone soon. 111 Melrose Avenue North, Hamilton | $214,900
Private Oasis!
Business for Sale!
Upgraded End Unit!
Welcome to your own private Oasis! Beautiful home with large lot by Bruce Park. Work shop with hydro and furnace, gorgeous kitchen with porcelain floor & roof 2015, pool liner 2013, furnace/AC & windows 2006, 2 wood burning fireplaces, rec room with wet bar. This is a great family home and perfect for your entertaining. 137 East 8th Street, Hamilton | $449,900
Well established, Convenience Store in busy plaza in East Hamilton. Surrounded by apartment buildings, town-homes, businesses, schools, restaurants etc. Many loyal customers. Lotto $2,800-3,000. No Franchise fee. Seller motivated & cooperative. Do NOT go direct or unaccompanied. 160 Centennial Parkway North, Unit 5, Hamilton | $129,999
3 bedroom Losani end unit townhome complete w/many upgrades, features including California Shutters, California ceilings, newly installed Bamboo hardwood flooring on the main level. Separate side entrance from the garage to the house & a fully fenced back yard. 20 Dulgaren Street, Hamilton | $399,900
3 Bedroom Townhome
Immaculate Custom built!
Stunning Bungalow!
Immaculate describes this 3 bedroom townhouse. Professionally painted thru-out with many upgrades including California Shutters, newer hardwood floors, pot lights and designer light fixtures. Kitchen has breakfast bar with stainless steel fridge and gas stove for the gourmet cooks. 75 Hannon Crescent, Stoney Creek | $379,900
Located in lower Stoney Creek. 3300 sq.ft. Perfect home for large family. Features 4+2 BRs, 4 baths, large eat in kitch w/walk-out, ceramics & hardwd throughout, separate dining rm, sunken family rm, den, in-law suite in basement w/ separate entrance, double garage, oversized lot. 4 Hewitson Road, Stoney Creek | $699,900
Stunning quality custom built home, 3750 sq.ft., bungalow with loft area, 4 baths, 4 bedrooms, pot lights, hand scraped hardwood, high end appliances, speaker system, and 3 car garage. 522 Gray Court Drive, Ancaster | $1,199,000
Call Today 905-575-7700
December 2015
The Golfi Team Real Estate Market Watch
Hamilton, Stoney Creek Ancaster, Dundas & Glanbrook
Page 5
Rob Golfi*
Location Rocks!
Going, Going! Opportunity awaits!
Convenient Central Hamilton Location!
Family friendly East Hamilton one floor plan w/huge fenced yard and plenty of parking. Recently renovated to SELL. New furnace 2015, vinyl windows, mudroom/laundry room w/lots of windows and natural sunlight, and good sized rooms. Fabulous location close to parks, schools, shopping and highway access. 259 Glennie Avenue, Hamilton | $199,900
Lovely 2.5 storey brick home with a big front porch and mature landscaping. Many renovations done: pot lights, kitchen/ cupboards/island/ backsplash/Quartz countertops, hardwood/ ceramic flooring. Bathrooms (one on every level). Sought after St. Claire/Blakely Neighbourhood. 21 Roseland Avenue, Hamilton | $299,900
This 3 Bedroom 1.5 Storey home has neutral dĂŠcor, vinyl windows, recently updated shingles, fenced yard with side drive. Move in condition! Close to all shopping, schools, entertainment and great HWY access. 55 Rosemont Avenue, Hamilton | $189,900
Expert mortg mortgage age advic advice e for for borr borrowing owing solutions Whether y you ou ar are e looking to pur purchase chase an in investment vestment pr property, operty, buy a ne new w home home,, or start rrenovations, enovations, call today how get et started. me toda y to learn ho w to g
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Page 6
The Golfi Team Real Estate Market Watch
December 2015
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MIKE MCNEIL
The Golfi Team Real Estate Market Watch
DAN GOLFI
JEFF GOLFI
LAuRA BIELAK
JENNIFER DRAHO
HANK BALFOORt
ASHLEY SIDLER
ALLISON PARK
CAtHERINE wELLMAN
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Page 7
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Page 8
The Golfi Team Real Estate Market Watch
December 2015
Grimsby, lincoln West lincoln & Niagara
Rob Golfi*
WATERFRONT
Lifestyle living at its best!
Welcome to Victoria Shores
Attention Hunters & Hobbiests!
2+1 bedroom affordable waterfront bungalow! Move in & update at your leisure or plan for expansion. Double car garage, 2 full bathrms, above ground pool,sunroom, treed property close to waterfront parks and trails. 111 Fairview Road, Grimsby | $579,900
This beautifully finished 2+1 bedroom raised ranch. Features a large living room and dining room, main floor master with ensuite. Spacious eat-in kitchen w/deck walout. Backyard has 18 x 33’ heated pool. Prof. finished hardscape. Fin. basement with large rec room, games room, bedroom and a full bath. Dbl garage. Easy access to hiway, waterfront, walking trails. 3364 South Shore Boulevard, Vineland | $599,900
Everything has been done to this 3 bedroom raised ranch with 48x32 car garage or workshop, sitting on 10 acres with 7 acres of bush. Updates include windows and furnace 2011, updated kitchen cabinets with granite counters and backsplash, professionally finished basement and much more. 8326 3rd Concession Road, West Lincoln | $539,900
9 ACRES
LEASE
Lots of Potential
Incredible Value in Smithville!
1 Bedroom Apartment
Large 2 storey country home on .9 acre lot with 4 bedrooms, 1700 sq.ft., eat-in kitchen, master bedroom balcony, main floor laundry, family room & living room, corner lot w/mature trees, parking for 6 with a 24x30 detached garage. Updates include geothermal 2009 & steel roof 2009. Lots of potential to make your dream home! 43898 Flanagan Road, Wainfleet | $214,900
4 bedroom home situated on a large pie-shaped lot. Large open concept, eat-in kitchen and family room with cozy fireplace. Features separate dining room and laundry room. 4 large bedrooms, master with ensuite and walk-in closet. Basement has full walk-out to extra-large fenced-in backyard with above ground pool. Walk-out from kitchen to sunroom. Large 2 car garage with triple driveway. 14 Lindan Street, Smithville | $409,900
This ready to go, sunny & quiet 1200 sq.ft. top floor studio is in a fantastic area, waiting just for you! Boasting closets, sep. kitch w/appliances, plenty of space for a queen size bed, furniture, dining set & more. Rent+utilities. Min. 1yr. lease, no smoking. 3-166 Main Street East, Grimsby | $1200/mo + Utilities
3.91 ACRES
2.2 ACRES
A Real Winner!
Bulding Lot Rare Find
Country Living
This Century Home begs for family get together in the large principal rooms. Large dining and living rooms and cozy family room with spectacular views. Century old barn relocated to the property (52x30 main barn, 55x30 addition), providing a multitude of opportunities for home-based business or the hobbyist who needs space. On-ground pool. 1383 Effingham Street, Pelham | $549,900
Fantastic opportunity to build your dream home on this 65.62 x 111.32 ft. lot! fully serviced with sewer and water to lot line. Buyer pays town, regional charges plus building permit. Quick access to QEW beautiful views of Niagara Escarpment. 5 Muscat Drive, Grimsby | $249,900
5 minutes to everything! Fantastic home on 2.2 acres of picturesque land minutes from new hospital & shopping. 2+3 bedroom home with 4 full bathrooms, large all-season sunroom, 2 kitchens, 2 living rooms and 2 dining rooms. Inground pool and multi-level deck. Circular drive with double garage with separate workshop. Lots of opportunities! 3985 15th Street, Jordon Station | $574,900
5.5 ACRES
602 ft Frontage Zoned light industrial and commercial with 5.5 acres and 602 feet of frontage on Durham Rd. 23 Durham Road, Beamsville | $989,900
BUILDING LOT
Business Opportunity - RM2 Zoning
ž 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
3 Bedroom Townhome Immaculate describes this 3 bedroom townhouse. Professionally painted thru-out with many upgrades including California Shutters, newer hardwood floors, pot lights and designer light fixtures. Kitchen has breakfast bar with stainless steel fridge and gas stove for the gourmet cooks. 75 Hannon Crescent, Stoney Creek | $379,900
Call Today 905-945-0188
December 2015
The Golfi Team Real Estate Market Watch
15 Tips to Keep Your Home Safe During the Holiday Season
M
ost people don’t like that “fall back” time change every November, but you know who does? Burglars. Burglars love to “fall back” because it gives them more time to practice their criminal activities thanks to the earlier veil of darkness. This is also a convenient time for them as the holiday season is upon us and most people have a lot of newly purchased gifts in our homes. Perfect bait for burglars. In general, most homeowners will take precautions around Christmas time to prevent fires due to Christmas lights, yet they do not take extra security measures to prevent home robbery. Though fire prevention is certainly important, your home is far more likely to attract the eyes of a burglar than to go up in flames. So, here are 15 ways that you can keep the burglars away: • Keep doors locked at all times. This is true even when you are home, and even when it’s light out. • Keep your windows locked, even those on the second floor. Burglars DO have climbing skills. • Use door reinforcements and top-flight locks. • Keep the curtains and blinds closed. This will ensure that no one can take a peek at your valuables. • Install security films on the windows. These help to prevent the penetration of objects such as a baseball bat or crow bar. • Give your home a “lived-in” look with a home automation technology system. Many of these can be controlled by a model device
• • •
• •
•
• •
•
or scheduled to turn lights on or off at a specific time. Collect your newspaper and mail as soon as they arrive. Place a large pair of men’s work boots near the door, and make sure they are scuffed up to make them look worn. Put a large dog bowl near the entryways of the home, but make sure it looks realistic. Do this by adding a chewed up toy or large leash to the scene. Make sure there is no shrubbery crowding entry points of the home. Go to Google news, and type in the phrase “door kicked in” along with your location. You will be shocked by the results. To protect yourself, consider a device such as Door Devil, which is a high-level door reinforcement device. If you have a garage, make sure you are packing and unpacking gifts from the car inside of the garage so no one can see what you purchased. Don’t advertise your Christmas gift purchases on social media, as many thieves use social media to find potential victims. Make an investment into a home security system. The best systems provide a clear view of what is happening in the home on your mobile device when you are not there. If you have a car parked out in the drive, place a pair of men’s gloves on the dash. Most burglars will think twice if they believe there is a large man living in the home.
www. GolfiTeam .com
Page 9
Page 10
The Golfi Team Real Estate Market Watch
December 2015
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December 2015
The Golfi Team Real Estate Market Watch
Top 6 Reasons Why Now is a Good Time to Sell your House 1) Supply & Demand: During the Holiday Season there are significantly less homes on the market. Less supply means less competition. Less competition means more money in your pocket and faster sales. 2) Holiday emotions: Buying is an emotional purchase and emotions tend to run high during the Holiday Season. Strategically, having the opportunity to work off a buyer’s emotion is in your favor...they tend to offer a higher price when emotions are involved. 3) Low interest rates: The interest rates are incredibly low, which allows a buyer to afford more in the market. When rates are low, buyers tend to present higher purchase offers. Not to mention, Mortgage interest rates are headed UP, which will drastically impact your BUYING POWER. 4) Beat the rush: Most sellers wait to list after the first of the year, which causes a lot of new inventory in January. The longer you wait, the more competition you create for yourself. You can expect a flood of new inventory in the first quarter of 2015. As supply increases, your likelihood of getting an offer at an acceptable price decreases.
5) Relocation: Companies typically bring in new talent starting in the beginning of the year. These new hires are looking at property now. You must be on the market to take advantage of these buyers. 6) Serious Shopping: Tire kickers do not like the cold and will stay home. Serious buyers do not have a choice. They must buy now and will brave the elements to make it happen. Picture the buyer who puts on her hat, gloves, boots, scarf, and winter coat to go look at homes in 3 feet of snow and in the middle of a snow storm. Are they buying or “just looking�? I think you know the answer. Selling during the winter months keeps the neighbors and looky loos out of the process and attracts only serious buyers to your home; making the showing process much easier. And remember, listing your home now doesn't mean you need to move out today. In fact, the average time frame from list date to move out date is nearly 90 days.
Crossword puzzle (Solution on Page 10)
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CONSUMER FEATURE
New program provides emergency mortgage loans to homeowners On November 1, 2012, Expert Mortgage launched the “85-Alive� program in Ontario. The concept was simple: as long as you had a pulse, Expert Mortgage would provide you with a home equity loan, up to 85 per cent of the value of your property. No job required. Bad credit, OK. The reason why Expert Mortgage could offer a “no questions asked� lending program, while the major banks could not, is that they represent over 200 private lenders who lend strictly on property value. These subprime lenders specialize in mortgage clients who have had some bad luck, and need a helping hand until they get back on their feet. The program has been so successful that Expert Mortgage can barely keep up with the volume of calls. To help fund this unexpectedly large number of borrowers, it has partnered up with dozens more private lenders.
Licensed Mortgage Agent 3BTIJEB 3JFM Expert Mortgage’s “85-Alive� representative for the (PMEFO )PSTIPF 3FHJPO, says, “We’re seeing mostly homeowners behind on mortgage and property taxes. The banks are refus-ing to restructure their loans. Many of these people have lost jobs due to the bad economy... or they’re selfemployed. Unless you are a perfect applicant, the bank doesn’t want to talk to you.� But not everyone condones Expert Mortgage’s easy lending criteria. A local real estate agent with 25 years of experience, who has asked to remain anonymous, says, “When this market turns down, it’s going to get ugly! It’s utter financial suicide for Expert Mortgage to be giving money away so easily to clients without the ability to make payments. I’d be surprised if they’re still in business five years from now.� Nonetheless, homeowners
like Anita P. don’t see a problem with the program. When questioned on how she plans on making payments on her mortgage when she has no income, Anita responds, “We were four months behind on our mortgage and they saved our house. My husband has been unemployed for nine months. He won’t be unemployed forever. We used the 85-Alive loan to pay off all our debits. We also had $25,000 left over that we put in the bank for emergencies. And to make life easy, they worked it out so we have no mortgage payments for 12 months.� For more details on the �85Alive� program, contact 3BTIJEB 3JFM XXX 3BTIJEB3JFM DB PS #30,&3 -*$
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Visible (8) Furious (6) Obligation (4) Position affording a good view (7,5) 5 Gossip (6-6) 6 Typical things one has to offer (5-2-5) 7 Made up of many differing parts (12) 12 Capable of erring (8) 15 Morally pure (6) 18 White Christmas requirement (4)
www. GolfiTeam .com
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Sworn written statement (9) Hit hard (5) Defunct (7) At a much reduced rate (3-5) Wicket crosspiece (4) Child at an early stage of life (6) Mum or dad (6) Sharp — bakery product (4) Take it easy (5,3) Sums (7) Hackneyed (5) In another place (9)
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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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The Golfi Team Real Estate Market Watch
December 2015
Golfi Team Feature Home Rob Golfi*
$699,900
4 Hewitson Road, Stoney Creek
Custom Built Home Perfect for large family. Features 4+2 bedrooms, eat-in kitchen with walk-out, separate dining room, sunken family room, den, in-law suite with separate entrance, double garage and oversized lot. • Custom build home 3300 sq.ft! • Large eat in kitchen with walk-out • Ceramics and hardwood throughout • Separate dining room • Sunken family room • In-law suite in basement with separate entrance • Double car garage • Oversized lot
Call www. Today GolfiTeam 905-575-7700 .com