July 2, 2013 Issue 74

WHAT’S INSIDE: Buy a Haunted House?

Who you gonna call…

PAGE 11

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

HOMES FOR SALE Hamilton, Stoney Creek, Ancaster, Dundas & Glanbrook Listings PAGE 9

July 2, 2013 - Vol 53

Rob Golfi Sales Representative

6 Hilts Drive, Stoney Creek, ON See page 9 for details.

HOME EVALUATION NO COST • NO OBLIGATION

905-575-7700 • 905-945-0188

Page 2

The Golfi Team Real Estate Market Watch

About Rob Golfi

S

ince the inception of his career in 1997, Rob Golfi has recognized that understanding his clients’ needs is essential to providing excellent service.

Married 25 year with four children, Rob understands a family’s wants and needs.

GOLFI

As business grew, Rob assembled the Golfi Team in an effort to maintain the same level of professionalism clients have come to expect. Shortly thereafter in 2003, the team received the prestigious honour of being among the top 100 Real Estate Teams for RE/MAX Canada, and this status continues to date.

Rob’s experience and aggressive negotiating skills have earned him every major honour awarded by RE/MAX, including President’s Club, 100% Club, Platinum Club, Chairman’s Club, Hall of Fame in 2003, the Lifetime Achievement Award in 2006, his SRES® designation in 2009 and the Diamond Club Award in 2010. Having worked with many of the industry’s professionals over the years, he has the necessary edge to best negotiate the sale of your home.

Any agent can list your house, but Rob’s knowledge, extensive marketing background and dedication gives clients peace of mind when dealing with the single most important investment in their lives. With years of combined experience, the Golfi Team can provide your home with a level of exposure that most agents cannot.

Utilizing a team approach also means that they will likely find a purchaser to buy your home sooner, rather than waiting for other agents to approach you with potential buyers.

Ranked in the top 5 of nearly 2,000 sales agents in the Hamilton-Burlington and Niagara areas, listing with Rob and the Golfi Team is the right choice when choosing someone to represent your best interest.

July 2, 2013

Rising Confidence Levels, Lower Values, and Favourable Supply spark buyer enthusiasm in Canadian Recreational Property Markets, says RE/MAX® 77 per cent of recreational markets reported stagnant starting prices or a year-over-year decline

S

ummer has finally arrived and its impact is evident on recreational property markets across the country. Greater stability is returning to this segment after several years of slow growth, with close to 70 per cent of markets expected to match or exceed 2012 sales by year-end.

With buyer enthusiasm climbing, many markets have experienced a rebound in activity in recent months.

The shift can be attributed to six major factors: 1.

Confidence is growing in overall economic performance.

2. Selection of recreational product is at its best level in recent years.

3. Prices have softened in many Canadian markets.

4. Paper wealth accumulated in the stock market in recent years is making its way into recreational property markets.

5. Purchasers are bypassing tighter financing criteria through HELOCs (Home Equity Line of Credit) on their principle residence.

6. Increased foreign and out-ofprovince investment.

Signs of change have emerged in recreational hotspots nationwide. Deals are coming together with greater ease, with more buyers and sellers reported to be on the same page. Multiple offers have been noted in some Muskoka markets. Luxury sales have experienced an uptick in a number of recreational communities in Ontario, including Prince Edward County, Collingwood, Honey Harbour, Grand Bend, Haliburton, and Innisfil to Oro. Given the steady momentum of today’s market, there are indications that 2013 could emerge as the turning point—suggesting the window of

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greatest opportunity is likely drawing to a close.

Baby boomers continue to fuel the lion’s share of demand, securing properties for family enjoyment and/or with an eye to retirement down the road. More mature boomers are opting for existing and proposed residential development on the waterfront, offering all the comforts of home, but none of the upkeep.

Ontario’s Huntsville and Midland/Penetang/Tiny/Tay are prime examples.

Full-time living is on the upswing, and as a result, this demographic is fuelling the growing trend toward renovation.

Teardown activity has subsided in many markets as fewer ‘traditional cottages’ are listed for sale. The rising cost of construction—and added HST—has also served to increase the appeal of resale recreational cottages, second homes and chalets. There are some exceptions, as new builds continue unabated in some Ontario markets including Grand Bend, Bala/Port Carling, Midland, Innisfil to Oro, and throughout Eastern Ontario, as well as in Shediac Bay, New Brunswick and the Newfoundland Coast (East).

Value continues to be a key driver, with momentum strongest at the entrylevel price points—between $250,000 and $500,000. With starting prices down or unchanged in 77 per cent (24/31) of markets examined in 2013, a great deal of opportunity exists for those ready to secure a recreational getaway.

Regardless of the type of product or price point, it’s clear that favourable conditions and confidence have bolstered interest and intentions this year. The stage is set for a solid 2013 performance.

July 2, 2013

The Golfi Team Real Estate Market Watch

Page 3

FREE HOME EVALUATION

Your home could be worth more than you think!

Call the GOLFI TEAM 905-575-7700 • 905-945-0188

Outstanding Team. Exceptional Results.

1

Burlington Burlington

Freelton Free eel elton ton

Waterdown Waterdown Wa

Dundas Du undas

HAMILTON BURLINGTON & NIAGARA

Hamilton Hamililton

Ancaster Ancaster

Mount Mo ount Hope Ho ope e

Stoney Stoney Creek Creek eek

Grimsby Grimsby

Lincoln Lincoln

Binbrook Bin inbrookk

West WestLincoln Lincoln

Niagara Niagaaraa Niaga on onthe the St.St Lake St. Lake Catharines Cath Ca a rines atha

Thorold Thorold

Pelham Pelham

Niagara Niagara Falls Falls

Welland Welland Wainfleet Wa Wainfleet

Port Port Colborne Colborne

100%

RE/MAX TEAM WORLDWIDE

Platinum

Club

Club

1999-2001*

2002*

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Club

2003-2009*

IN CANADA

Fort FortErie Erie

40 Award Award

20

RE/MAX TEAM

Inducted 2003*

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Inducted 2006*

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Club

How The Golfi Team Did in 2012: ✓ Number Of Homes Sold in 2012: 313 ✓ List Price To Sold Price Ratio: 98% ✓ Average Days On Market: 39

2010-2012*

* Based on RE/MAX Ontario Atlantic Canada annual commission criteria. **Information based on recorded total commissions paid between January 1, 2012 and December 31, 2012 from the REALTORS® Association of Hamilton-Burlington. Rankings are compiled from figures submitted by regional and local offices.

Rob Golfi

Sales Representative

Sharon Stafford

Sales Representative

Heather Reid

Sales Representative

Hans Marcellissen Sales Representative

Wendy Murray-Nicholson Sales Representative

Mike McNeil

Sales Representative

Kristina King

Sales Representative

Call Today 905-575-7700

John Hellicar

Sales Representative

Dan Golfi

Sales Representative

Lynn Page

Sales Representative

Page 4

The Golfi Team Real Estate Market Watch

July 2, 2013

Why can’t Canadians get overland flood insurance?

Residents and volunteers take a break in a raft as the neighborhood is in clean up mode in the community of Bowness as most of the homes have been pumped out.

(Nathan Denette / The Canadian Press

F

lood victims in southern Alberta hoping to make insurance claims to cover damage to their homes could be out of luck.

Most insurance policies in Canada don’t cover damage caused by water

that comes in through doors and windows -- known as “overland flooding.”

“The costs, the premiums would be very high,” Pete Karageorgos of the Insurance Board of Canada told CTV News.

“Thus, you have governments in the U.K. and the U.S. and in other areas that might have flood programs typically funded by governments, the federal governments.”

However, Calgary southeast MP Jason Kenney stated that Ottawa has no plans to implement a federal flooding program.

“It’s not the role of the federal government to get into negotiating people’s individual claims or policies they may have with insurance companies,” he said.

Manitoba residents were offered an option to buy flooding insurance about a decade ago, but the premiums were so expensive that few individuals purchased it.

“Where it’s such a small percentage of policy holders that live in flood zones or flood-prone areas, that it doesn’t make it feasible or affordable,” said Andrew McNair of the Insurance Brokers Association of New Brunswick.

The Alberta government announced on Monday that it will provide $1 billion in funding to help flood recovery.

The money will be used to run relief

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centres, rebuild infrastructure and support people who have been evacuated, according to Premier Alison Redford.

Displaced residents will also be provided with pre-loaded debit cards to cover day-to-day costs and home repairs, she said. Those who qualify will receive $1,250 per adult and $500 per child.

As for a federal contribution, with 23 communities still under a state of emergency across the province, the government isn’t in a position to say, Kenney said.

“We don’t really have an estimate on that yet,” He told Power Play.

“We’re still dealing with the crisis element of this.”

Once the dust has settled, it will be up to the province and affected municipalities to essentially figure out what needs to be done and submit their expenses to the federal government, he said.

Kenney said Ottawa can reimburse up to 90 per cent of eligible expenses.

“We will be there in a very major way financially but we do not get involved at the front end,” Kenney said.

Evacuation orders have been lifted and thousands of Calgary residents have returned home to flooded basements and furniture damaged beyond repair.

“We’re starting to get a very, very rough picture of the amount of damage in people’s homes, as well as a rough picture of the amount of damage to public infrastructure,” Calgary Mayor Naheed Nenshi told CTV’s Power Play.

“If there are people whose basements have been flooded, who are working on cleanups and renovations, there’s a new normal. That will take a while.”

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July 2, 2013

The Golfi Team Real Estate Market Watch

Page 5

Grimsby, Lincoln West Lincoln & Niagara

Rob Golfi*

WATERFRONT

beamsville

$324,900

NiaGara-ON-the-lake $259,000

Grimsby

$889,900

Grimsby

$389,900

4174 Highland Park Drive

151 Cole Crescent

391 Nelles Road North

30 Udell Way

Desired 4 level side split features renovated open concept designer kitchen with Gourmet Island, and walk out to deck, 3 bedrooms, renovated main bath, 3 season sunroom, bright rec room with fireplace, and fourth level games room w/pool table. All appliances included.

Fully finished updated 3 bedroom townhouse located in the beautiful Niagara on the Green. Features eat in kitchen, living room, family room with fireplace, 4 baths, finished basement complete with kitchenette, inside entry from garage and more. Nothing to do but move in!

WATERFRONT RETREAT! Gated Cape Cod home w/riparian rights on private 163 ft. of shoreline. Oak kitchen cabinets, hardwood & limestone floors, showcase FP, upgraded light fixtures, skylights, large windows, new bath, new shingles, det. garage, across from Nelles beach & close to all amenities.

CHARMING BUNGALOW IN DORCHESTER ESTATES Gorgeous home with all the upgrades, beautiful maple kitch w/granite counters & breakfast bar, large living & dining room with corner gas fireplace, Berber & hardwd flrs, crown moulding, California shutters, main flr laundry, & 1 ½ car garage.

$1,228.73 per/mth P&i / O.a.C.

$979.50 per/mth P&i / O.a.C.

$3,365.48 per/mth P&i / O.a.C.

$1,474.55 per/mth P&i / O.a.C.

beamsville

$235,000

beamsville

$369,500

Grimsby

$329,900

beamsville

$399,900

4993 King Street

2705 Campden Road

8 Kidd Avenue

4359 Tamarac Avenue

Prime location in downtown core. Storefront w/large window, front & back entrances. Can suit 2 businesses or 1 large one. Parking spaces in rear & municipal parking lot.

New furnace & 2pc bath. 1500 sq.ft. of business space w/GC zoning plus 2 BR apt on upper level. Tenant pays hydro. All sizes approx.

One floor family living in serene setting. Home boasts 3+1 bedrooms eat-in kitchen, huge basement rec room with walkout to patio. Large above ground pool & oversized garage. Updated, windows, exterior doors, furnace, roof, pool & cistern.

CHARACTER AND CHARM – Fantastic 4 bedrm home in the heart of Grimsby. New maple country style kitchen with stainless steel appliances, updated bathroom with claw tub, original oak & plank floors, updated shingles & plywood, mostly updated vinyl windows, new furnace 07, new wiring.

QUIET COURT LOCATION – This 4 bedrm 2 storey home has everything you’re looking for, open concept, gorgeous hardwood floors in living/ dining room & family room, gas fireplace, 3 tier patio deck in landscaped back yard, new shingles in 2011, updated vinyl windows, & oversized lot.

$888.74 per/mth P&i / O.a.C.

$1,398.91 per/mth P&i / O.a.C.

$1,248.99 per/mth P&i / O.a.C.

$1,514.01 per/mth P&i / O.a.C.

SOLD

ONE R E H ANOT

NiarGara-ON-the-lake $289,000

Grimsby

$649,900

Grimsby

$299,900

Grimsby

$324,900

38 Niagara on the Green

511 Main Street West

48 Park Rd North

26 Brierwood Avenue

Fully finished w/loads of upgrades 3+1 BR townhouse located in the beautiful Niagara on the Green neighbourhood. Features dining rm, formal living rm, eat in kitch, main flr ldry, 3 BRs & 2 full baths on the upper level, finished basement complete w/BR, 4pc bath, & rec rm.

Nothing to do but move in!

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.

RENO DONE RIGHT!! Rebuilt from the studs, basically a new home!! Country cozy w/50x125 ft. lot & over 80 ft. driveway w/parking for 10. Located across from a park, this 3 bedrm bungalow offers 1100 sq.ft. of updates! Show & Sell!

AMAZING IN EVERY RESPECT IN THIS PROPERTY – Bungalow in immaculate condition, features beautiful oak kitch cabinets, gorgeous hardwd flrs, all vinyl windows, professionally finished basement with walk out to back yard, new shingles 2013, close to shopping & quick access to QEW.

$1,092.62 per/mth P&i / O.a.C.

$2,457.83 per/mth P&i / O.a.C.

$1,135.41 per/mth P&i / O.a.C.

$1,230.06 per/mth P&i / O.a.C.

ONE R E OTH N A D SOL beamsville

$312,000

NiaGara-ON-the-lake

$259,900

smithville

$444,900

beamsville

$989,900

4084 Barry Drive

24 Robertson Road

55 Las Road

4895 Lister Road

CLASSIC 3LVL SIDE SPLIT–sitting on large 68x128 foot lot w/detached oversized double car garage, features sun room addition, new shingles 2009, mostly vinyl window, oak kitchen cabinets, finished basement, updated bathroom, hardwood floors, & professionally landscape yard.

Updated throughout and located in a fabulous area! This property features an eat-in kitchen with pantry, hardwood, living room/dining room with gas fireplace, master with ensuite and custom walk-in closet, fully finished lower level with wet bar and office. Updates include: shingles ‘12, new A/C ’11, concrete steps and side drive ’10. Unpack and start enjoying! $982.91 per/mth P&i / O.a.C.

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.

WATERFRONT ON 1 ACRE: This 3450 sqft. custom built raised ranch features a self-contained in-law with separate entrance, all brick construction, large 22x22 patio deck, finished basement with walk out & extra bedrms and baths, and workshop. Shore protection in place.

$1,684.38 per/mth P&i / O.a.C.

$3,743.66 per/mth P&i / O.a.C.

$1,179.94 per/mth P&i / O.a.C.

SOLD viNelaNd

$229,900

Grimsby

ONE R E H ANOT $345,000

st. CathariNes

$259,900

beamsville

$599,000

3956 Durban Lane

20 Tami Crescent

55 Longfellow Avenue

4130 St. George’s Drive

Adult Lifestyle custom built home backing onto greenspace.

Open concept, hardwd & fireplace in living room. Walk-out to multi-level deck, custom, extra deep garage with backyard access. Home is on leased land

BEAUTIFULLY MAINTAINED & UPDATED-Quiet court location with easy access to QEW features custom kitch w/pine cabinets, gorgeous bamboo floors, updated bathrm, professionally finished basement w/wood fireplace & brick facing, mostly updated vinyl windows, fenced yard, new shingles in 2008, furnace in 2005.

Great Location! Features updated kitchen with backsplash, ceramic floors & walk-out to multi-level deck & children’s play center. Main floor complete w/5 pc bath, powder room and 9ft. ceilings. Basement has ample storage, rec room with option for additional bedroom and rough-in for bath.

New Hampton Model home! 3000 sq.ft. of pure luxury, loaded w/upgrades. Open concept w/hardwood, ceramic & porcelain flrs. Kitchen w/granite counters, glass backsplash & island. DR boasts coffered ceilings & wainscoting.

Master bdrm w/double walk in closets & spa bathroom.

$869.45 per/mth P&i / O.a.C.

$1,304.74 per/mth P&i / O.a.C.

$983.97 per/mth P&i / O.a.C.

Call Today 905-945-0188

$2,265.33 per/mth P&i / O.a.C.

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Page 8

The Golfi Team Real Estate Market Watch

July 2, 2013

Estate Planning…

Is your Will up to date???

by Gianni Leonetti, Leonetti Consulting

C

anada is generally viewed as a country with no estate tax. While that’s true, what many people don’t realize is that a "deemed disposition tax," which is similar to an estate tax, applies when you die. In this article, we’ll provide tips on minimizing your estate’s exposure to this tax as well as structuring your estate plan to ensure your beneficiaries get the assets you intend for them.

Taxation Issues Deemed disposition tax is so-named because your investments are deemed to be sold at death. Any capital gains triggered by their sale are included in a final income tax return filed in the year of death. A final tax return also includes the value of any retirement accounts and income received from stocks, bonds, real

estate investments and even life insurance proceeds in the year of death, from January 1 up to the date of death. With Canadian federal income tax rates of up to 29%, this final taxation can be substantial. Provincial taxes and probate fees also apply.

The good news is the tax is deferred if the assets are transferred to a surviving spouse. Taxes are deferred even if the assets are held in a spousal trust, which provides income to the surviving spouse.

However, if the spouse sells the assets, then the tax applies. When the spouse dies and the assets are passed on to other heirs, 50% of the capital gains of any stocks, bonds, real estate investments and other assets are taxable at the personal income tax rate.

Why It’s Important To Make A Will “Nothing is certain but death and taxes” While you can’t control either of these two inevitable events, you can draft a will to ensure your financial affairs are managed according to your wishes once you’re no longer able to, due to incapacity or death.

Without a valid will, you are considered to have died intestate. When that happens, in Canada the province decides how your assets are distributed, without regard to your wishes. Following the laws of intestacy, the province typically distributes the first $50,000 of value to a surviving spouse, then divvies up the rest between the spouse and children. If you don’t have a surviving spouse or children, your parents are next in line to receive your assets, followed by any brothers and sisters.

Dying without a will also leads to delays and extra expenses. The court appoints a bonded administrator to serve as an executor of the estate. In addition, any assets distributed to children under 19 must be passed along to a bonded guardian or to the Public Trustee. The process of appointing these administrators is both expensive and time-consuming.

In conclusion, to ensure your assets are distributed the way you want them to be, you will need a last will and testament. If there are any other questions or concerns please don’t hesitate to contact my office via email or by phone.

Contact Gianni at 905-690-5052, ext. 251 or email him at gianni@leonetticonsulting.com

Pre-approved Financing may not be enough for home purchase Buyers, when you are looking at potential lenders to assist with your home purchase, ask in advance how long it takes them to do their appraisals.

Many lenders can get this done within 34 days, so that you can have assurance that you will get all your money before you have to waive any financing condition.

Be very careful about bidding on a home without a financing condition, unless you budget an additional 10 per

cent down payment in reserve, just in case the lender surprises you just before closing with a reduced loan. Being prepared will assist you in closing on time, and with the right amount of money.

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

Facts about Wills Whether you're looking for a condo or house, just make sure the value of the property you're bidding on will be accepted by your lender - even if you have a pre-approved mortgage.

M

any buyers get pre-qualified for financing before they start looking for a home. This means that they find out in advance the maximum amount that a lender will provide to them based on their income. The mistake is thinking that no matter what home you buy, the lender will just give you the money you need, provided that it is within your approval limit.

Buyers need to realize that just because a lender pre-approves you does not mean they will lend you all the money. The property you buy must, in the lender’s opinion, be worth what you paid for it.

Most real estate agreements are conditional for a few days on the buyer arranging satisfactory financing. In many cases, however, the buyer waives the condition before the lender conducts an appraisal of the home itself. Even worse, in most bidding wars, buyers do not even include a condition on financing, hoping that their pre-approval will be enough.

In the last two months, I have seen two situations where lenders requested an appraisal of the property just days before closing, and when the appraisal

stated that the house was not worth what the buyers paid, the lender just cancelled the loan. The buyers had already paid the deposits and were preparing to close.

Now they faced the possibility of losing their deposits and getting sued.

In both cases, we were initially able to arrange for an extension of the closing date to give the buyers time to solve their problem. In one case, the mortgage broker got creative and was able to find the buyer a new mortgage, albeit at a higher interest rate and for a shorter term than the original mortgage. Still, the deal got done.

In the second situation, the buyer had purchased a brand new condominium from an original investor, who flipped it just before closing. The original price was $200,000 when the development started four years ago, but the buyer today paid $240,000. The problem was that when the bank asked for the appraisal, the appraiser said that since other investors closed at the original price of $200,000, he would not agree that the unit had in fact appreciated to $240,000 today. The buyer was fortunate to have relatives who lent him the shortfall to close the deal.

1) A will that has been totally handwritten and signed by the deceased (no typed or pre-printed sections or paragraphs) is valid in Ontario.

2) A will done by way of a video is NOT valid in Ontario.

3) A surviving spouse (if there is no will) in Ontario is entitled to the first $200,000.00 of estate assets and any amount over $200,000.00 is shared equally between surviving spouse and surviving children.

4) A common law spouse (including same sex partner) does not have the same rights to share in the assets of the deceased (where there was no will) as a married spouse (under note 3 above). To make sure that a common law spouse (or unmarried same sex partner) receives property after death, a will must exist.

5) A power of attorney (given prior to death) is deemed invalid after death since the power of attorney automatically terminates upon death.

A will only become’s effective upon death, at which time an existing will replaces any power of attorney.

6) Naming a spouse or children as a beneficiary on an insurance policy or RRSP can save probate costs and taxes.

7) Joint ownership of property to avoid probate costs is not always advisable if one loses control over dealing with the asset during one’s

www.golfiteam.com

lifetime. Current probate costs are only ½ of 1% on the first $50,000.00 of the estate and 1.5% on the balance ($1,500.00 probate cost for each $100,000.00 of estate assets over the first $50,000.00).

8) While a divorce or separation will not affect the validity of a will, a marriage (after a will was made) will invalidate any will made prior to the marriage (unless the will specifically states that the will was made in contemplation of the future marriage).

Once separated or divorced, unless a will is revised, a separated or former spouse can still receive estate assets if the will (which existed prior to the divorce or separation) was not changed.

9) A properly witnessed will requires both witnesses to be present AT THE SAME TIME when the deceased signed the will. The two witnesses cannot be individually witnessing the signature of the deceased at different times.

Written by: Stephen H. Shub, Professional Corporation Barrister, Solicitor, Notary To request a Will or Power of Attorney, contact: Philip Anthony Kuca (P.C.) – BA (Hons), LLB Centennial Law Group 19 King St. W. Stoney Creek, ON L8G 1H1 • 905-526-0736

July 2, 2013

The Golfi Team Real Estate Market Watch

Rob Golfi*

burliNGtON

Page 9

Hamilton, Stoney Creek, Ancaster, Dundas & Glanbrook

$799,900

stONey Creek

$439,900

stONey Creek

$408,500

burliNGtON

$949,900

243 Plains Rd

24 Drayton Court

6 Hilts Drive

470 Patricia Drive

Large 3/4 acre lot in the city! Potential development site on bus route and close to all amenities. Renovate existing home or build your dream home on this country like setting w/lots of possibilities. 2700 sq.ft. home with oversized triple car garage, newer windows, furnace and A/C 2011.

Court location, pie shaped lot on quiet cul-del-sac. Features stunning courtyard front entrance to porch, solid oak kitchen with Corian counter tops, showcase stone fireplace in family room, gorgeous hardwd floors, professionally finished basement, & mostly updated vinyl windows.

Immaculate home sitting on Stoney Creek Plateau, features gorgeous original hardwd flrs, formal dining rm w/drs leading to beautifully landscaped private yard, family rm w/showcase fireplace, updated bathrms, new furnace & C/A 2013, updated shingles, new soffits & facia, & new insulation.

Custom new build approx. 3000 sq.ft. Features 9ft. ceilings on main floor, coffered ceilings, crown molding, hardwood staircase & flooring, designer bathrooms & kitchen, 4 large bedrooms all w/ensuite baths & walk-in closets.

$3,025.11per/mth P&i / O.a.C.

$1,663.64 per/mth P&i / O.a.C.

$1,544.89 per/mth P&i / O.a.C.

$3,588.99 per/mth P&i / O.a.C.

burliNGtON

$989,000

hamiltON mtN

$975,000

stONey Creek

$499,900

stONey Creek

$439,900

476 Patricia Drive

516-526 Concession Street

177 Silverlace Circle

3 Riviera Ridge

Custom new build approx. 3120 sq.ft. Features 9ft. ceilings on main floor, coffered ceilings, crown molding, hardwood staircase & flooring, designer bathrooms & kitchen, 4 large bedrooms all with ensuite baths & walk-in closets.

Become a part of Hamilton arts scene or modify this large space for your own purpose! Total building size: 14,400 sq.ft. 390 seat theatre with an additional 4 residential and 5 commercial units. Projected cap rate of 9.6 % unique property. Do not go direct.

BEAUTY, WARMTH & VALUE – All brick, w/top quality finishes, maple kitchen cabinets w/granite counters & breakfast bar, hardwd flrs, fin. basement great for in-law, master bedrm suite w/additional rm - great for dressing rm, den, TV rm or nursery, & grand foyer w/spiral maple staircase.

Spectacular, luxurious & Immaculate best describes this awesome beauty, features main flr den, beautiful hardwd , ceramic flrs & new carpeting, large family size kitch, professionally finished basement, new c/air, shingles 5 yrs new, private back yard quick access to QEW.

$3,740.26 per/mth P&i / O.a.C.

$3,687.31 per/mth P&i / O.a.C.

stONey Creek

$389,900

stONey Creek

$399,900

$1,892.60 per/mth P&i / O.a.C.

hamiltON mtN

$199,900

$1,665.45 per/mth P&i / O.a.C.

hamiltON east

$319,900

68 Mountain Avenue North

6 Lakegate Drive

309 East 26th Street

159 Adeline Avenue

WHAT A DOLL HOUSE. Beautifully kept home in the heart of Old Stoney Creek, this cozy 4 bedroom home features inlaw set up with separate entrance, many updates include shingles 2012, furnace 2008, updated vinyl windows, beautiful wrap around porch, 25x22 dbl garage/workshop.

WATERFRONT COMMUNITY. Next to Confederation Park and waterfront trail, features new stylish kitchen with breakfast bar & SS appliances, gorgeous hardwood flrs, fin. basement with bedroom and rec-room, new shingles 2011, oversized garage, fenced yard with large deck. You must see this ranch style home across from the lake.

Cute as a button! 2 bedroom & 1.5 bathrm w/large garage & lot (39.83’x108’) needs some updating. Roof stripped & reshingled in (‘11), vinyl windows, bathrm (‘10), front porch (‘12).

New!! Pick your finishes!! One of a kind 1300 sq.ft. bungalow with double car garage on large 45x107 ft. lot in a neighbourhood friendly East end locale! 3 bedrooms, 2 bathrooms including an ensuite & walk-in closet, 9ft main floor ceilings & main floor laundry.

$1,476.15 per/mth P&i / O.a.C.

$1,514.01 per/mth P&i / O.a.C.

$756.81 per/mth P&i / O.a.C.

$1209.82 per/mth P&i / O.a.C.

aNCaster

$539,900

34 Norma Crescent Fabulous 2 storey in fantastic location, features gorgeous hardwd in family rm w/wood FP & wet bar, main flr den, upgraded trim on main lvl, new carpeting & under-pad, freshly painted, patterned concrete drive & patio, new shingles ‘09, unspoiled basement w/good ceiling height & access to garage. $2,041.83 per/mth P&i / O.a.C.

hamiltON east

$350,000

stONey Creek

$359,900

28 Sandy Drive BIG HOUSE, SMALL PRICE, fantastic value in this 4 bedrm all brick executive home, features gorgeous hardwd flrs, updated kitchen with glass backsplash, new shingles (07), new furnace (12), vinyl windows, finished basement, sunny sunrm addition, & concrete drive. Close to parks, schools & QEW.

biNbrOOk

$169,900

stONey Creek

$479,900

92 Windwood Drive

55 Chiara Drive

Amazing space in this fabulous 2100 sq.ft. home, features open main floor plan, formal dining rm, showcase gas fireplace in family rm, family size kitch w/patio doors leading to party size deck & fenced in yard, master bedrm w/walk in closet & ensuite w/relaxing roman tub, & finished basement.

SPECTACULAR 4+1 BEDRM - Shows like a dream, features oak kitch w/granite counters & back splash, hardwd flrs w/oak staircase, master bedrm w/2 walk in closets & spa style ensuite, professionally finished basement, & landscaped yard w/35x18 ft. 2 tier deck.

$1,455.64 per/mth P&i / O.a.C.

$1,814.91 per/mth P&i / O.a.C.

$1,361.09 per/mth P&i / O.a.C.

hamiltON east

$384,900

hamiltON mtN

$159,900

hamiltON Ctr

$289,900

867 Beach Blvd.

117 Fairfield Avenue

36 Poplar Avenue

673 King Street East

WATERFRONT LOT 42.50X149.00 ft.! Build your dream home in trendy Beach Blvd backing onto the Waterfront Trail, fully serviced vacant lot with sewers, water & gas to lot line.

BUNGALOW WITH FAMILY ROOM ADDITION. Two good sized bedrooms w/a large family room, lots of parking, updated windows, shingles, furnace, C/A, kitchen & wiring.

Needs TLC in decorating & cleaning. Great Value. Close to highway access & shopping.

LOCATION, LOCATION! Walk to Juravinski, steps to mountain brow and shopping. Loads of character and perfect for a young couple! This property features beamed ceilings, private back yard, front and back porch, updated 100 amp panel, and kitchen. Great rental location!

$1,323.65 per/mth P&i / O.a.C.

$678.61 per/mth P&i / O.a.C.

$638.67 per/mth P&i / O.a.C.

LOCATION LOCATION! This incredibly maintained 2200 sq.ft. corner property with commercial frontage and 2 add. apts. features fantastic income, close to Cathedral high school, new roof 4 yrs, 14 ft ceilings, hardwood floors, full basement with newer wiring & parking space in the back.

Call Today 905-575-7700

$1,096.36 per/mth P&i / O.a.C.

Page 10

The Golfi Team Real Estate Market Watch

July 2, 2013

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July 2, 2013

The Golfi Team Real Estate Market Watch

Page 11

If you bought a House that’s Haunted… what can you do?

I

f you're worried the real estate you might buy is haunted, who ya gonna call?

Maybe a psychic, a medium or a lawyer?

Not many of us would hire a psychic or medium to accompany a home inspector if we were considering an offer to buy a house. Is that mould behind the wall, or goo from a goblin?

But if those sorts of issues matter to you, whether for matters of religion or superstition, the best way to protect yourself is to put it in writing before you sign any real estate deal.

Here’s why: Helen Ackley claimed that her home in the town of Nyack, New York, was haunted. For a decade between 1977 and 1987 she was in the news off and on, describing paranormal incidents in her house including such things as the bed being shaken each morning by a poltergeist. Her notoriety was such that Reader’s Digest paid her $3,000 for an article “Our Haunted House on the Hudson” which was published in May, 1977.

In 1990, she sold the home but did not mention anything to do with the paranormal to the buyer. The buyer sued when he later

found out. At trial, the court said it was the buyer’s responsibility to do this type of due diligence, so it was a case of caveat emptor or buyer beware” and he lost. He appealed.

The appeal was heard in July, 1991.

Judge Israel Rubin who wrote the decision put a big weight on the fact that Ackley had not only made claims that the house was haunted, but she had been paid to write about it. He noted that regardless of whether the house was haunted or not, the fact that it had been widely reported affected its value.

In addition, since the buyer was not a local resident, he could not readily learn the house was haunted by inspecting it.

The ruling said: “Where, as here, the seller not only takes unfair advantage of the buyer’s ignorance but has created a condition about which he is unlikely to inquire, then enforcement of the contract is offensive to the court’s sense of equity.”

One of the justices noted, “Who you gonna call?” if you are concerned about whether a house might be haunted. Several other humorous references were made to the 1984 movie Ghostbusters, in the decision. Judge Rubin said that while it appeared the buyer did not have a “ghost of a chance’, he was moved by the “spirit of equity” in making his decision.

People ask me whether these things should matter to people, or are they just superstitions. The Chinese and now many westerners place importance about the ancient concept of Feng Shui. When

CROSSWORD PUzzLE (Solution on Page 4)

Dan Aykroyd, front, with Bll Murray, left, and Harold Ramis encounters a ghost in the New York public library in the original Ghostbusters movie. But if you buy a haunted house, who ya gonna call? Maybe a lawyer. designing or buying a home they bring consultants in during the home inspection for advice before making their purchase decision.

One of the later interested buyers of this home was the Amazing Kreskin, who was interested because of the haunted claim. Perhaps one could argue that the reputation of the home might actually have increased its value.

The solution, if such things worry you is to insert a clause that says: “The seller warrants to the buyer that to the best of their

knowledge, this property has not been stigmatized by any of the following acts or occurences: (then insert murder, suicide, natural death, haunted house, house of prostitution) that the buyer considers traumatic or horrific.” Then a seller will have to tell the truth, regardless what they may believe.

Or just ask the neighbours.

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

SUDOKU 6

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Business transaction (4) Egg-laying mammal (8) Walking stick (4) Capital on the Danube (8) Spent wastefully (10) Winner (6) In one's own house (2,4) About (10) Payments for insurance (8) Move by slow degrees (4) Putin's people — as in USSR (anag) (8) 23 Open tart with a sweet or savoury filling (4)

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Call Today 905-575-7700

7

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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