January 6, 2014 Issue 85 by The Real Estate Market Watch

Page 2

The Golfi Team Real Estate Market Watch

About Rob Golfi

January 6, 2014

The REALTOR® Code

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 (19992001)*, Platinum Club (2002)*, Chairmans Club (20032009)*, 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.

he Canadian Real Estate Association’s (CREA) REALTOR® Code has been the measure of professionalism in organized real estate for over 40 years. The first code was approved in 1913; members approved the first code of ethics specific to CREA members in 1959. The Code has since been amended many times to reflect changes in the real estate marketplace, the needs of property owners and the perceptions and values of society.

A Strict Standard of Conduct The REALTOR® Code establishes a standard of conduct, which in many respects exceeds basic legal requirements. This standard ensures the protection of the rights and interests of consumers of real estate services. As a condition of membership, all REALTORS® agree to abide by the Code. Some of the key items of the Code include: REALTORS® must disclose in writing whom they are representing as an agent in the transaction, and explain to parties in a transaction the details of the agency relationship; and REALTORS® can’t acquire an interest in property (either directly or indirectly) without disclosing the fact that they’re real estate professionals.

A REALTOR’s® ethical obligations are based on moral integrity, competent service to clients and customers, and dedication to the interest and welfare of the public. The REALTOR® Code, by setting high standards of professional conduct for REALTORS®, helps to protect Canadians' rights and interests. It also creates a level of trust between REALTORS® and their clients.

The Code and the Law The REALTOR® Code establishes obligations that may be higher than those mandated by law. However, in any instance where the code and the law conflict, the obligations of the law must take precedence.

“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.

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January 6, 2014

The Golfi Team Real Estate Market Watch

Page 3

Facts About the GOLFI TEAM… 3 Over $80 Million in Sales Annually** 3 #1 in Sales Transactions in Hamilton-Burlington-Niagara* 3 #1 Real Estate Office in Hamilton-Burlington* 3 Ranked Top 10 Teams in Canada for ** 3 Ranked Top 50 Teams world wide** Award 100%

Club

1999-2001*

Rob Golfi Sales Representative

Award Platinum

Club

2002*

Award

Chairman’s

Club

2003-2009*

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.

OVER $600 MILLION IN REAL ESTATE SALES *#1 Brokerage in the Realtors Association of Hamilton Burlington MLS from 1994 to 2013 consecutively. **Year End Standings for 2013, based on residential commissions paid. Rankings are compiled from figures submitted by regional offices. Not intended to solicit properties currently listed for sale.

Be Clear about Rental Items in Real Estate Contracts

hen you sell your home, if you Ave. to Anna Carnovale on July 19, 2012. expect the buyer to take over About 18 months earlier, Gu installed an any of your rental obligations, alarm system with Reliance Protection be clear, or you will end up paying for it and signed a three-year monitoring conyourself later. tract for $45 a month including tax. A Niagara Falls case where a home When he sold the home to Selling a home in Ontario: Transferring of any rental contracts, such as water heaters or alarm systems, must be agreed to by buyer was sold with an alarm monitoring system shows what can happen. Aidong Gu sold his home on Robin

Carnovale, under the chattels included section of the real estate contract, it said “Alarm System and equipment.”

Later, under the rental item paragraph, it said that the buyer agreed to assume the rental contract for the hot water tank. No mention was made of assuming the monitoring contract associated with the alarm system. After the deal closed, Gu continued to be billed for the monthly fee because the modem that monitored the system remained active. He thought that Carnovale was taking over the payments after closing. When he learned that she wouldn’t, he sued. The real estate agent who prepared the contract testified in small claims court that it was his understanding that Carnovale would take over the contract but that was clearly not what the contract said. Carnovale testified that she knew nothing about the modem and never agreed to take on the payments. She expected to receive the alarm system equipment with the understanding that if she wanted to activate it later, she would call someone at Reliance to arrange this. She said she knew nothing about the monthly payments or the modem. In a decision dated September 11, 2013, Deputy Judge Terry Marshall of the Welland Small Claims Court accepted Carnovale’s evidence that she was

Is Personal Debt a Crisis in Canada? Statistics on savings rates and consumer debt levels in Canada are grim. By all accounts, a large percentage of average Canadians either can’t stop living paycheck to paycheck, or have made a conscious decision not to. Many Canadians are not saving for a rainy day. In the fall of 2008, it started to pour. The storm in worldwide equity markets meant the paycheck they were counting on to cover necessities dried up. For others underemployment and the shrinking of household wages reared its head. People talked about scaling back, but some of the examples appearing in

popular media were almost laughable, for example, such things as trimming restaurant meals to two instead of four times a week. Those of us accustomed to living more frugally began to truly scratch our heads and wonder how so many average wage earning consumers had managed to let their spending get so far off the rails. Separating wants from necessities will continue to be a challenge for many Canadians. Eliminating bad debt such as high priced automobiles, credit cards, never-never cards (the never pay interest for a year card) and lines of credit are imperative. It is important to live within

your means if you want to be free of debt. I also believe it will require a new breed of advisor, one who can foster meaningful change in client spending habits and can help move the populace to a place where the balance sheets are collectively healthier. For more information, please contact Jim Powell, Financial Security Advisor with Freedom 55 Financial, London Life and Quadrus Investment Services. Jim.powell@f55f.com

Call Today 905-575-7700

unaware of the o n g o i n g He charges. dismissed the claim because the alarm system should have been listed as a rental contract, but was not. Many buyers take on rental contracts, including hot water tanks, furnaces, air conditioners, water softeners and alarm systems. When it comes time to sell, sellers must be clear about which contracts must be assumed by the buyer. They should disclose the details of every contract, so the buyer can make an informed decision. If the listing includes several rental contracts that need to be assumed, buyers should consider making any offer conditional on reviewing and being satisfied with all the terms of the rental contracts, especially if there are any penalties for cancellation. By being clear and prepared before signing any real estate deal, there will be no unwanted surprises or unanticipated charges after the deal closes. Mark Weisleder is a lawyer, author and speaker to the real estate industry. You can contact Mark at mark@markweisleder.com

Crossword Solution

Page 4

The Golfi Team Real Estate Market Watch

January 6, 2014

Old Fashioned Values More Relevant in Today’s High Tech World

iven the full-throttle force of technology and social media in today’s world, you wouldn’t be wrong to think that Twitter and blogging have reshaped the way those of us in the real estate industry do business. As a real estate professional that depends on Facebook and certain apps to communicate with clients, to market your practice or simply promote new listings, social media tools and the Internet are an important part of a realtor’s daily repertoire. For many, it is an entrenched part of our business culture. So as social media and the web change the face of real estate today, what do clients want or expect from their realtors? They want the same kind of housing professional they’ve always wanted. Here’s a look: Look for a Professional Clients don’t expect toy-soldier stiff formality, but high-fives and a sloppy appearance might be a sign that it’s time for an attitude adjustment. We live in a fairly casual world today, but that doesn’t mean your realtor should be ultra laid-back with clients. Look for signs of respect and kindness. You’ll also want an agent who

dresses neatly, keeps their car tidy when chauffeuring you around and if you see your agent in their home, look for a space that’s clean and de-cluttered. Know Thy Market Your agent should know their market. Of course, a realtor can’t be expected to know everything, but should have reasonable answers at their fingertips. They should know the schools, hospitals, churches in the area and maybe even a few speciality shops, restaurants and cafes in the neighbourhood. It wouldn’t hurt to learn statistics about crime, especially if they’re on the low side. Extra points if they bone up on cultural attractions such as museums and libraries. Are You a People Person? If your realtor wears a scowl too often it might be time to switch. Enjoying the human race is not something you can fake. People can smell a rat. You should be made to feel you are the centre of the universe and no request you make is too ridiculous or petty, even if it may be. Top Communication Skills You want a realtor that can really listen to you. Realtors are tasked with communication skills such as

negotiating, bargaining, writing, advertising, and promoting. The better your agent is at getting your message across, the easier your buy or sell will be. Well connected People want agents and brokers who are well-connected. They want someone who’s in the know when it comes to obtaining real estate lawyers, property inspectors and mortgage professionals. More than that, though, it also means someone who understands the ins and outs of the housing professions, someone who gets it innately and someone who understands the value of professional networking. Straighten Up & Fly Right Honesty and integrity are words that commonly come up when clients are asked about the most important attributes in their realtor. Clients have low tolerance for a realtor who over promises and under delivers. That only serves to perpetuate the real estate profession’s bad reputation and spread word that you’re not worth the name on your for sale signs. And that’s no word of a lie.

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www.GolfiTeam.com

Check out our Blog for the latest information in Real Estate Non-Resident Purchasers by Piero Fortino, Mortgage Specialist BMO Bank of Montreal® is happy to provide mortgages to non-resident buyers: • We consider a non-resident to be a person who resides outside Canada or within Canada with a valid temporary resident Visa, valid work permit or valid study permit. • Applications must be taken in person with appropriate identification and documentation provided. • A Canadian bank account is mandatory for payments and must be opened in person prior to funding of the mortgage. • The maximum loan amount is $1,000,0001. • Up to a maximum loan-to-value of 65% of the purchase price. • For rental properties full rental coverage of principal and interest payments, strata and taxes must be provided. • The maximum amortization for a conventional mortgage is 30 years.

• Non-resident mortgages are not eligible for default mortgage insurance. • Payments may be made weekly, bi-weekly, semimonthly or monthly. • You may prepay your closed term mortgage up to 20% of the original mortgage amount (or 10% for the Low Rate Mortgage) without a prepayment charge each calendar year2. • You may increase your payments each year by up to 20% (or 10% for the Low Rate Mortgage) without a prepayment charge each calender year.

Your business is important to me. I can assist with your mortgage application and answer any questions you may have.

Subject to client meeting all Bank of Montreal credit criteria. 2 Applicable provided the mortgage is in good standing and provided you have not obtained an official payout statement. Some other conditions apply. Compliance with foreign tax laws may be required. The maximum loan amount in Metro Vancouver and Greater Toronto is $1.5MM. ® Registered trade-marks of Bank of Montreal. 1

As a BMO Bank of Montreal® Mortgage Specialist, I am committed to fully understanding your home financing needs and providing you with outstanding service and personalized solutions. Let me present you with customized options to suit your needs. I can meet with you at your home or office, night or day. For convenient mortgage service, contact: Piero Fortino, Mortgage Specialist

905-928-2838 piero.fortino@bmo.com bmo.com/ms/pierofortino

www.golfiteam.com

January 6, 2014

The Golfi Team Real Estate Market Watch

Page 5

Grimsby, Lincoln West Lincoln & Niagara

Rob Golfi*

WATERFRONT

Grimsby

$569,900

Grimsby

$885,000

JOrDAN ViLLAGE

$849,900

334 Mud Street West

143 Lake Street

3792 Main 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.

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.

INCREDIBLE! Two and a half storey, four bedroom, all brick home, built in early 1920’s in historic Jordan Village. Features coffered ceilings, leaded glass windows, hardwood floors. Zoned residential/commercial. Sitting on large 86 x 165 foot lot.

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

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

WELLAND

$424,900

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

$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.

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.

SOLD CALL NOW!

905-945-0188

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.

WEst LiNCOLN (st. ANNs) $539,900

bEAmsViLLE

$291,900

5476 Attema Crescent

4080 Cassandra Dr. Unit #21

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”.

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

Call Today 905-945-0188

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

Page 6

The Golfi Team Real Estate Market Watch

January 6, 2014

HISTORY CHART 1955-2013

YEAR 1955 1956 1957 1958 1959 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

Residential & Condominium, Farm, Vacant Land, & Business, Hamilton, Burlington & Surrounding Area NUMBER OF NUMBER OF TOTAL DOLLAR HOMES LISTED HOMES SOLD VOLUME 6,412 8,606 8,755 9,694 9,296 9,114 10,230 10,205 8,582 8,531 8,671 9,322 10,143 11,094 11,578 12,603 12,072 11,918 11,070 13,511 16,382 18,712 20,355 20,986 19,676 21,376 20,515 20,798 20,792 21,760 20,983 20,675 25,571 26,785 28,318 36,238 36,187 32,767 29,835 27,716 25,887 22,999 21,518 21,273 19,135 22,550 21,366 17,811 18,518 19,089 18,695 19,283 19,570 19,699 17,998 20,279 23,311 20,321 20,241

2,552 3,790 3,773 3,426 3,403 3,037 3,063 3,100 3,330 3,759 4,599 5,114 5,522 5,665 5,326 4,304 5,229 5,821 6,210 5,941 7,841 6,251 6,769 6,424 6,834 6,699 7,126 6,466 8,844 9,131 11,396 12,286 11,392 13,810 12,439 7,745 8,350 9,049 8,199 8,817 8,185 10,784 10,612 10,654 11,206 10,941 11,896 13,154 13,478 13,817 13,955 13,640 14,411 12,445 13,160 13,440 14,399 13,573 14,372

$25,933,747 $40,769,888 $43,928,799 $41,636,856 $43,067,075 $39,304,822 $39,166,153 $39,720,500 $44,306,337 $53,532,765 $69,589,274 $86,964,089 $107,322,067 $123,308,631 $124,461,396 $104,857,879 $129,458,870 $159,695,737 $208,752,098 $252,660,101 $356,962,723 $313,942,966 $349,660,825 $348,288,666 $385,131,691 $398,041,113 $445,511,231 $404,899,847 $588,979,771 $620,175,677 $886,362,255 $1,136,344,284 $1,331,338,599 $1,900,870,640 $2,095,459,068 $1,299,341,482 $1,356,979,854 $1,370,502,738 $1,185,126,368 $1,302,315,456 $1,173,098,098 $1,554,507,479 $1,648,968,336 $1,662,251,354 $1,785,365,893 $1,805,188,967 $2,055,999,217 $2,422,547,269 $2,707,081,423 $3,011,698,424 $3,297,817,699 $3,441,982,496 $3,932,171,748 $3,577,212,595 $3,872,206,935 $4,226,894,801 $4,855,701,291 $4,958,732,687 $5,129,255,560

www.golfiteam.com

AVERAGE SELLING PRICE $10,162 $10,757 $11,643 $12,153 $12,656 $12,942 $12,787 $12,813 $13,305 $14,241 $15,131 $17,005 $19,435 $21,767 $23,369 $24,363 $24,758 $27,434 $33,615 $42,528 $45,525 $50,223 $51,656 $54,217 $56,355 $59,418 $62,519 $62,619 $66,597 $67,920 $77,778 $92,490 $116,866 $137,644 $168,458 $167,765 $162,512 $151,453 $144,545 $147,705 $143,322 $144,149 $155,387 $156,021 $159,322 $164,993 $172,831 $184,168 $200,851 $217,970 $236,318 $252,345 $272,859 $287,440 $294,241 $314,501 $337,225 $365,338 $383,266

January 6, 2014

The Golfi Team Real Estate Market Watch

Page 7

Change coming to Home Inspection Industry

oday anyone can call themselves a home inspector in Ontario. That is a scary proposition since most consumers depend on the opinion of a home inspector before making one of the biggest purchases of their lives. More than 1,500 home inspectors operate in the province yet there are no mandatory training or technical standards for them to meet. The results are often a leaky roof, cracked foundation or outdated electrical wiring or plumbing that was missed and which ends up costing unwary consumers thousands of dollars to repair after closing. In extreme situations, consumers have lost their homes. Many

inspectors do not carry errors and liability insurance, meaning that if they make a mistake, even if you win a lawsuit, you may recover nothing. The Ontario Ministery of Consumer Services formed a panel of industry experts to recommend changes to the home inspection industry, which included home inspectors, educators, a realtor, a lawyer, educators, engineers and an insurance broker. Their report is aptly titled “A Closer Look: Qualifying Ontario’s Home Inspectors.” The recommendations’ aim is consumer protection, achieved through the following principles: • Home inspectors should be regulated and called “licensed home inspectors.”

CRoSSwoRd PuzzlE (Solution on Page 3)

• Licensed home inspectors will require minimum qualifications, including a written exam, field test and experience requirements. Ongoing professional development and education will also be required so inspectors stay up to date. • Increasing consumer awareness by providing information on the services inspectors provide. For example, some inspectors may offer energy audits, new home warranty inspections, chimneys, well, septic, mould, drainage or termite testing, while others may not. • Home inspectors should not be required to enter unsafe or not readily accessible areas of a home. • A centralized registry of licensed home inspectors accessible to consumers. • A code of ethics that outlines expected behaviour of inspectors, including disclosure of any referral fees or incentive programs. • Mandatory errors and omissions and general liability insurance for all licensed home inspectors. • A complaint and dispute resolution process for consumers. • A delegated administrative authority, similar to the Real Estate Council of Ontario that regulates real estate agents, overseen by the government, to license and regulate home inspectors. For example, the code of ethics

would be written by the government but the administrative authority would enforce it, with the power to penalize or suspend any inspector who violates the code. This authority would pay for itself through the fees charged for licensing and education. The goal is to introduce these regulations within the next 18 months, to permit home inspectors to become licensed. I spoke with Graham Clarke, an experienced home inspector with Carson Dunlop who was on the panel. As Graham indicated, almost everyone involved with the homebuilding and selling business — from real estate agents, lawyers, mortgage brokers, lenders, builders and appraisers — are regulated by the government in some manner. It is time for the home inspection industry to become similarly licensed and regulated. The government is also asking for feedback. A form to complete can be found at http://www.ontariocanada.com/registry/view.do?postingId=14645&language=en If you have views on this important issue, send in your feedback to the government now. Change is coming to the home inspection industry, and the consumer should be the winner. Mark Weisleder is a lawyer, author and speaker to the real estate industry. You can contact Mark at mark@markweisleder.com

SUDOKU 6

7 1

4 2

2 8 8 9

1 2 5 6

6 2

The Solution

4 1

3 6 7 9 4 5 1 8

8 4 2 5

7 9 5 6 4

1 6 7 9

1 8 3

3 6 1 9 7 8 4 2 5

4 5 9 8 1 7 2 3 6

1 8 3 4 2 6 9 5 7

6 2 7 3 5 9 8 4 1

Call Today 905-575-7700

Weary (5) Method of working (5,8) Kept out (8) Died down (6) At any time (4) Painting by Leonardo da Vinci (3,4,6) 7 Lamp (7) 12 See charm (anag) (8) 13 Set boundaries (7) 15 (Of hooves) divided (6) 18 Downy duck (5) 19 Chop down (4)

1 2 3 4 5 6

5 9 9

1 Likely to act unpredictably (13) 8 Free (3) 9 Colour-changing lizard (9) 10 Mild anxiety (8) 11 Ducks and drakes, for example (4) 13 Spruce (6) 14 Hurry (6) 16 Entice (4) 17 Tavern (8) 20 Move skilfully or carefully (9) 21 Group of whales (3) 22 Empirical procedure (5,3,5)

Down

Across

9 8

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

January 6, 2014

What’s the Difference between a CMA and an Appraisal

ow do you find out the value of your home? There are two ways – a comparative market analysis, or CMA, and a professional appraisal. The CMA is used to determine current market value so that you can choose the listing price where your home will sell quickly and for the highest amount possible. Your real estate professional gets the information for the CMA from the multiple listing service, or MLS, where brokers and their agents pool information on listed properties for sale. The MLS also contains sold

data, historical trends and property tax roll data. The CMA includes recently sold homes and homes for sale in your immediate neighborhood that are most similar to your home in appearance, features, and general price range. Establishing a home’s fair market value is equally important to buyers and their lenders. When your buyer applies for a loan, the bank will order an appraisal. Where the bank appraisal differs from a CMA is that it is performed by a licensed appraiser – not a real estate agent. Even though the appraiser is

bank will not make the loan, and the seller will likely reduce the price for the buyer. One thing is certain, no home will sell for more than it’s worth in any market. If you price your home based on the information suggested by the CMA, chances are good that the buyer’s appraisal will support the sales price. If you price your home above comparables, it’s a sure way to ensure your home won’t sell.

hired by the bank, the appraiser has no vested interest in the transaction. The appraisal is designed to protect the bank, so that it doesn’t loan too much money for a single property. The appraiser visits your home and compares it to other similar homes using square footage, finishes, age, condition, location, and more. The data is compared to property tax records and recent solds as well as sales trends to determine the arc of prices up or down. Appraisers also use information from the local MLS. If an appraisal comes in lower than the asking price of the home, the

Written by Blanche Evans, Realty Times

GET YOUR

HOME SOLD FOR TOP DOLLAR CALL NOW!

905-575-7700

Sharon Stafford Sales Representative

Dan Golfi

Sales Representative

Rob Golfi

Sales Representative

905-945-0188

Hans Marcellissen Sales Representative

Jeff Golfi

Sales Representative

Wendy Murray-Nicholson

Mike McNeil

Sales Representative

Violet Lowe

Christine Serafini

Sales Representative

We Sell More... Because We Do More!

www.golfiteam.com

Kristina King

Sales Representative

January 6, 2014

Rob Golfi*

The Golfi Team Real Estate Market Watch

Page 9

Hamilton, Stoney Creek, Ancaster, Dundas & Glanbrook

stONEy CrEEk

$279,900

hAmiLtON mtN

$264,900

hAmiLtON EAst

$229,900

4 Lawrence Avenue

735 Upper Gage Avenue

186 Craigroyston Road

PRIME STONEY CREEK LOCATION. Well maintained backsplit, 2 bedroom, finished lower level w/ 3 piece bath, huge fenced yard w/walk-up from lower level, garage w/ door to back yard, numerous updates, high quality windows, oak kitchen & plenty of parking.

NICELY MAINTAINED WITH UPDATES. Used as a two family home with separate entrances. First floor and basement include 3 bedrooms, two baths, and big living room with fireplace. Top floor includes one big bedroom, living room, and kitchen with a separate entrance. Lots of parking!

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.

WATERFRONT

stONEy CrEEk

$1,769,900

hAmiLtON WEst

$349,900

hAmiLtON EAst

$134,900

9 Lochside Drive

100 Beddoe Drive, Unit 37

761 Burgess Ave.

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!

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.

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

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

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

E N O R HE T O N DA L SO stONEy CrEEk

$299,900

hAmiLtON Ctr

$139,900

81 Irene Avenue

213 Rebecca Street

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.

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.

E N RO E TH O N A LD O S hAmiLtON EAst

$179,900

$558 per/mth P&i / O.A.C.

hAmiLtON mtN

$259,900

10 Warren Avenue 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.

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

WATERFRONT

Grimsby

$885,000

hAmiLtON EAst

$127,900

103 Garside Avenue North

143 Lake Street

95 Hope Avenue

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!

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.

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

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

Call Today 905-945-0188

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

Page 10

The Golfi Team Real Estate Market Watch

January 6, 2014

Marketplace Clutter Removal & Organizing

Senior Downsizing

We Guide You Through The Entire Process

WE GUIDE YOU THROUGH THE ENTIRE PROCESS

Pamela Culp Blanchard Cell: 905-971-9568 www.beclutterfree.ca

Pamela Culp Blanchard Cell: 905-971-9568 www.seniordownsizing.ca

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

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GOLFI

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January 6, 2014

The Golfi Team Real Estate Market Watch

Page 11

Homes For Sale ANCASTER

HAMILTON MTN

STONEy CRk upR

LINCOLN

Bungalows/ Raised Ranches Starting at $347,500 23 Available

Bungalows/ Raised Ranches Starting at $ Available

Bungalows/ Raised Ranches Starting at $379,900 4 Available

Bungalows/ Raised Ranches Starting at $176,900 26 Available

Two Storeys Starting at $305,000 64 Available

Two Storeys Starting at $ Available

Two Storeys Starting at $284,000 19 Available

Two Storeys Starting at $224,900 23 Available

Semis and Town Homes Starting at $275,000 14 Available

Semis and Town Homes Starting at $ Available

Semis and Town Homes Starting at $229,900 4 Available

Semis and Town Homes Starting at $182,000 9 Available

DuNDAS

HAMILTON WEST

STONEy CRk LWR

WEST LINCOLN

Bungalows/ Raised Ranches Starting at $304,900 5 Available

Bungalows/ Raised Ranches Starting at $ Available

Bungalows/ Raised Ranches Starting at $185,900 29 Available

Bungalows/ Raised Ranches Starting at $279,900 7 Available

Two Storeys Starting at $279,900 9 Available

Two Storeys Starting at $ Available

Two Storeys Starting at $299,900 61 Available

Two Storeys Starting at $164,900 8 Available

Semis and Town Homes Starting at $249,000 3 Available

Semis and Town Homes Starting at $ Available

Semis and Town Homes Starting at $211,888 10 Available

Semis and Town Homes Starting at N/A N/A Available

HAMILTON EAST

HAMILTON CTR

GRIMSBy

GLANBROOk

Bungalows/ Raised Ranches Starting at $109,500 33 Available

Bungalows/ Raised Ranches Starting at $224,900 34 Available

Bungalows/ Raised Ranches Starting at $194,900 25 Available

Bungalows/ Raised Ranches Starting at $192,900 23 Available

Two Storeys Starting at $169,900 14 Available

Two Storeys Starting at $219,000 100 Available

Two Storeys Starting at $254,900 41 Available

Two Storeys Starting at $239,900 33 Available

Semis and Town Homes Starting at $129,000 14 Available

Semis and Town Homes Starting at $127,500 10 Available

Semis and Town Homes Starting at $219,900 3 Available

Semis and Town Homes Starting at $239,900 10 Available

Call Us Today for Information on Any of these Homes! 905-757-7700 â&#x20AC;˘ 905-945-0188 Call Today 905-575-7700

E V I T U C E X S E N W O T BLE D A L I L A V A O YS A D H 0 9 E TO E 0 6 R 0 F FROM 0 9 , 1 7 2 $ DED U L C N I T HS

Stylish Towns with 9 ft. ceilings & double car garages, backing onto a 5-acre community park!

QEW

EXIT

QEW

STADELBAURER DR.

SOUTH SERVICE RD.

SALES OFFICE

GREEN SPACE

Our Standards are most Builders Upgrades Luxury Ensuites Spacious 1,740 & 1,900 sq ft Designer Kitchens

DON’T MISS THE SAVINGS! SITE HOURS: Tues, Thurs 1-5pm Sat-Sun, 1-5pm Friday by appointment

www.homesbycambridge.ca

905-945-0188