June 2015 Issue 112 by The Real Estate Market Watch

WHAT’S INSIDE: The Answer to Housing Unaffordability : Immigration PAGE 3

HOMES FOR SALE | PAGE 4 Hamilton, Stoney Creek, Ancaster, Dundas & Glanbrook LUXURY & WAtERFRONt | PAGE 8

HOMES FOR SALE | PAGE 6 Grimsby, Lincoln, West Lincoln & Niagara

June 2015 - Vol 77

Grimsby’s Farmers Market Open for Season!

We Keep Getting Better! A sure sign of spring is the return of the market with the opening day on Thursday May 28 quickly approaching. We have a lot of new activities and events planned for the market this year. Check out our Calendar to see what we have planned. Returning this year are several of our local wineries offering a selection of their VQA wines for your sampling and purchase. This two year pilot project of the Provinical government

and the Grape Growers of Ontario were a welcome addition to our farm fresh market last season and we look forward to welcoming them again. Make sure you put some time aside every Thursday to see what we have in store for you this year. The Grimsby Farmers' Market was established in 2008 in response to a growing demand by the residents of Grimsby to enjoy the freshness of local products from the Niagara Region. Set up as a "Home

Grown" Market, our vendors grow their own products and take the time to answer all the questions of the shoppers at the market. Our new, expanded market moved to Main Street in Grimsby, between Christie and Ontario Streets and we are celebrating our fifth season on the street. The venture has linked the market vendors with the merchants of the Grimsby Downtown. The market is home to more than 40 local farm vendors and features

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

905-945-0188

local farm fresh vegetables, fruit, honey, maple syrup, preserves, flower, vegetable and herb plants, perennials, cut flowers, artisan breads made with whole and organic grains, home baking, natural fed chicken, and beef as well fresh eggs and local cheeses. Come share in the fun at our Market! Like us on our new Facebook page, Grimsby Farmers' Market and keep up to date on all that is happening at the market.

Page 2

The Golfi Team Real Estate Market Watch

June 2015

Luxury

Rob Golfi

Real Estate Specialist

Sales Representative

Recognized as the mark of accomplishment in luxury markets around the world, the Certified Luxury Home Marketing Specialist (CLHMS) designation assures affluent buyers and sellers that the agents who have earned it have the knowledge, experience, competence – and confidence –they require.

L U X U RY P R O P E R T I E S SaLES SPECIaLIST

| Rob Golfi |

905-575-7700

www.GolfiTeam.com

Check out our redesigned website for all the latest information in Real Estate! COMING FEBRUARY!

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

where the future takes shape

If you are buying or selling a home,

contact Rob Golfi today.

Rob Golfi Sales Representative

905-575-7700

Call Today 905-945-0188

Page 4

The Golfi Team Real Estate Market Watch

Hamilton, Stoney Creek Ancaster, Dundas & Glanbrook

June 2015

Rob Golfi*

Going, Going...

Hip condo luxury!

Definitely not a drive by!

Prime Stoney Creek location! Many Updates: siding, shingles and some windows. Perfect for first time buyers. Extra deep garage. Hardwood floors, plaster construction, main floor laundry, 50 x 100 ft. lot, lots of parking, big eat in kitchen. Easy HWY access and Bus line. Call Rob Golfi today at 905-5757700 for a private viewing or visit my website at www.robgolfi.com. Thank you for viewing my listing. 174 Cedarvale Avenue, Hamilton | $249,900

The “Bayview” offers 1133 sqft of exquisite living space. In suite features include 10` ceilings, quartz counters tops. Upgrades include flooring, trim, bathroom hardware, appliances, window coverings & more! Rooftop patio w/ landscaping and an amazing view of the city and Escarpment. Minutes to McMaster University and HWY. walk to trendy Locke street, shopping and restaurants. 427 Aberdeen Avenue, Unit #503, Hamilton | $379,900

4 bedrm family home just a block away from the paved Grand River Trail, schools & amenities. Definitely not a drive-by! This home is bigger than it looks w/lots of room to grow. This home offers water filtration system and central air. Roof & windows 2006, upstairs addition 2012 plus others. 41 Strathcona Avenue, Brantford | $229,900

Walk to new Stadium!

Bring your cheque book!

Stunning design!

Same Tenant long term. Need 24 hour notice for showings. Tenant pays $700.00 month and all utilities, no lease. Third floor would make a great family room or another bedroom. Seller is selling “AS IS”. 752 Cannon Street East, Hamilton | $149,990

Gorgeous 2 storey all brick home. Fabulous open concept kitchen. Numerous upgrades throughout. Many features including; 2 living areas on the main floor, 4 generous sized bedrooms, hardwood floors, fireplace, deck and crown mouldings. Easy Hwy access! 10 Peachwood Court, Stoney Creek | $409,900

This 3200 sq.ft. romantic home with dream lot features wide maple staircase with wrought iron, solid hand scraped hardwood floors, wonderful family size custom kitchen with granite counter tops, showcase stone fireplace in family room, in floor heating in bathrooms & more. 400 Hamilton Drive, Ancaster | $1,349,000

Prime lot with scenic views

Live at the Palace

Exclusive Scenic Drive!

Over 1 acre scenic lot on Hamilton Mountain with two houses overlooking the city. 170 & 180 Concession Street, Hamilton | $1,880,000

2 bedrooms with solarium and 1.5 baths. Super location walking distance to Mapleview Mall and Lakeshore. Building offers 24 hour security, gym, outdoor heated pool picnic and bbq area. This is a no pets building! Locker and underground parking. In-suite laundry. 1270 Maple Crossing Boulevard, Unit #803, Burlington $249,900

Picture perfect home with a secluded yard backing onto a 5 acre protected woodlot. Gorgeous pool and private oasis await you. House loaded with character. Many upgrades, kitchen, baths, $30,000.00 on pool 2014.Walk-up from lower level to pool. 726 Scenic Drive, Hamilton | $559,900

WATERFRONT

Gorgeous city and waterviews!

Trendy Beach Boulevard!

Character filled home with many modern touches. Large 4 bedrooms, 2.5 baths, lovely sun room with city views. Lower level rec room and 4 piece bath. 1.5 detached garage with long drive, in-ground pool, new kitchen, bathroom, heating/ cooling/wiring and much more. 144 Mountain Park Avenue, Hamilton | $539,900

Spectacular & luxurious best describes this awesome beauty! Executive free hold townhome on waterfront trail with top quality finishes through-out, quartz, marble, porcelain, crown moulding, and oversized terraces, steps away to downtown Burlington & quick access to QEW. 1089 Beach Boulevard, Hamilton | $849,900

Newly renovated top to bottom, inside & out! Two story home steps to mountain brow, 4 BRs, 3 full & 1 half baths, oversized fully fenced yard w/party deck, new maple kitch w/granite & island, sep. dining rm, main flr ldry. New roof, windows, doors, flooring, electrical…& more. 65 Sunning Hill Avenue, Hamilton | $689,900

Call Today 905-575-7700

June 2015

The Golfi Team Real Estate Market Watch

Hamilton, Stoney Creek Ancaster, Dundas & Glanbrook

Page 5

Rob Golfi*

WATERFRONT

Quiet lakeside neighbourhood condo Immaculate 1200 sqft., 2 BR unit in fantastic condition has open & inviting flr plan w/vaulted ceilings. Features oversized great rm w/gas fireplace & lrg windows looking out to gorgeous Lake Ontario, sliding door leading to balcony. Avail. for immed. occupancy. 515 North Service Road, Unit #58, Stoney Creek | $399,900

Attention downsizers, first time buyers and investors! Handy Downtown bungalow, 2 bedroom, furnace in 2011, windows in 2011 and roof in 2000. Close to buses, entertainment and shopping. Being sold "as-is, where-is.” 213 Rebecca Street, Hamilton | $169,900

Be your own boss! High Traffic corner location. Established Bowling Alley (5-pin, 2-levels) currently. Rear parking plus municipal. May be assembled with 418 Guelph Line for apx. 1 acre of land on busy corner. Do not go direct. Contact LA for details of assemblage. 422 Guleph Line, Burlington $2,000,000

WATERFRONT

Dream hobby farm for horse lovers!

Waterfront gem!

Build any size home you want.

Scenic 37+ acre property w/lrg home, barn (4 'soft mat’ stables), & run-in. Close to HWY access & city conveniences. Beautiful eat-in kitch, living rm w/wood stove, lrg foyer, 3 BRs & many extras. 2832 Glancaster Road, Ancaster | $824,900

Romantic waterfront home, this custom built gem in private cul-de-sac features, no lawn maintenance w/private pool & balcony something you see in a travel magazine. Open and inviting floor plan, with large sunny bright window, riparian rights and shore protection in place. 8 Trillium Avenue, Stoney Creek | $1,100,000

FABULOUS FIND - Prestigious 3 acre lot with a 230 ft. frontage and 550 ft. deep. 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, Ancaster | $569,900

WATERFRONT

Just amazing in every respect THIS CONDO UNIT is a stunning ground floor 2 bedroom bungalow, offers $60,000 in luxury finishes, custom kitchen with granite counters, gas fireplace, professionally finished basement, ensuite bath with glass shower and air jet tub, closet organizer. 515 North Service Road, Unit #57, Stoney Creek | $449,900

OvER 1 AcRE

Live on the beach!!

Custom Built 2 Bedroom all brick home

135 feet of unobstructed view. All season sunroom w/Lake views. Gorgeous second floor deck overlooking Lake Ontario. Many updates include flooring, kitchen, windows, fencing and driveway. Private parking off Dexter, last driveway on the North side. 7 Woodland Avenue, Hamilton | $599,900

Sitting on one acre with 3 car garage, home features large living room, kitchen with granite counters, large island, high end stainless steel appliances, main floor laundry, large master bedroom, and second kitchen. Hard wood flooring throughout. 1489 1/2 – Highway #8, Stoney Creek | $549,900

WATERFRONT

The word “Plateau” is in its namesake.

Fulfill your waterfront dream!

Modern minimalist design!

Custom home built on half acre lot. Fully finished basement w/second kitchen, 2 cold cellars & walk out, oversized Barzotti kitch w/sliding drs leading to pool sized fenced lot, sunken family room, dining rm large enough for any size family. 36 Hilts Drive, Stoney Creek | $749,900

Lakefront! 3000 sq ft 3 bedrm, 2 storey. Updates include kitchen with granite, marble floors, windows, ensuite. Centre hall plan with separate dining room, main floor laundry, main floor family room. Stunning 79 ft frontage on private road. 24 Lakeshore Drive, Stoney Creek | $949,900

3300 sq ft lakefront home. Modern minimalist design with 3 bedrooms, open concept principle rms, balconies on 2 levels across the back of the home, tons of windows to maximize light. Breakwall extra high construction. 51 Windemere Road, Stoney Creek | $989,900

www. GolfiTeam .com

Page 6

The Golfi Team Real Estate Market Watch

Grimsby, Lincoln West Lincoln & Niagara

June 2015

Rob Golfi*

dwesc

Move-in ready!

No upgrade has been spared!

4 level side-split w/ fenced in backyard, above-ground pool, 3+1 bedrms, 2 full bathrms, eat-in kitchen & all season sunroom. Basement has walk-up to back yard, extra bedrm & sun-filled rec rm. Furnace/air, roof, most windows, garage door, upstairs bathrm & some pool equip updated. 5093 Hartwood Avenue, Beamsville | $349,900

Outstanding end unit in impeccable neighbourhood with trouble-free town home living. Features great open concept design with oversized sun-filled living room, stylish oak kitchen with sliding doors to private fenced in patio, professionally finished basement and walking distance to all conveniences, YMCA, sports facilities and quick highway access. 24 Kenyon Court, Unit #34, Grimsby | $294,900

This Immaculate 2 year old, 3 bedroom, 3 bathroom bungalow with loft has it all. Granite throughout, maple cabinets in kitchen. Vaulted ceilings, main floor master with ensuite. 25x40x14 feet tall Out building with 100 amp service,12x12 rollup insulated door and concrete floors. 9088 Silver Street, Caistor Centre | $644,900

Circa 1864 Manor!

$40,000 in upgrades!

Start typing your offers!

Beautifully restored country manor with addition on 21.3 acres bordering Beamer Falls and the Bruce Trail. This classic red brick home is located 5 minutes from Grimsby’s town centre. Call for details. 140 Ridge Road, Grimsby | $1,289,900

2 bedroom townhome with approx. $40,000 in upgrades. Upgrades incl: entry level tile floor, oak stairs & railings, updated cabinets & quartz countertops in kitchen & bathrooms, main bath with walk-in glass shower, Moen shower jets and heat lamp. 515 Winston Road, Unit #36, Grimsby | $324,900

1400 sq.ft UPGRADED town home , hardwd flrs, custom tile, SS appliances, marble bathrm counters, antique white kitchen & island with soft close drawers. custom ensuite bath w lake views $55./mth condo Rd. 515 Winston Road, Unit #43, Grimsby | $324,900

21.3 AcRES

WATERFRONT

Quaint home with friendly price!

Views of the Canadian and US shores

49 Acre hobby farm, 30 acres are bush

Here’s your chance to snag a quaint, old home on a 66 x 245ft. lot for a friendly price. The home owner has done some nice “core” work to the house including cabinets, tile, floors, doors, trim & light fixtures. This lot has plenty of size to add onto the garage or expand the foot print of the home. 8917 Thorold Stone Road, Niagara Falls | $199,900

5 bedroom home on the most prestigious street in Niagara Falls includes in-law w/nanny suite, in-ground pool, sunroom w/built in hot tub, landscaped yard w/sprinkler system, eat in kitch, family room w/wood fireplace. Updates: roof ‘12, Furnace ‘13, AC in in-law suite, Water pump 14, interior & exterior painted in ‘12. 10185 Niagara River Parkway, Niagara Falls | $819,900

This property features a 35x55 ft. galvanized steel barn, large parking or truck yard with stone and asphalt grindings on top, large 42 ft. drilled well plus Cistern, 3 level side split with large family room addition built in 1968, and high basement. Needs a little bit of work to get it looking lived in again. Available for immediate occupancy. 7683 Young Street, West Lincoln | $499,900

Outstanding home on beautiful treed lot

To be built, make it your own!

Situated in fantastic elevation perched into the Niagara Escarpment, this custom built 2300 sq.ft. raised ranch has everything you need, main floor laundry, vaulted ceilings, palladium windows, upgraded wood trim & hardwood private yard. 303 Main Street West, Grimsby | $649,900

2 storey executive four bedroom home, 2800 sq. feet features 9 ft. ceilings, 2 car garage, main floor laundry, large eat in kitchen, ensuite bath with walk in-closet, ceramics, & hardwood floors. Similar “To Be Built,” “taxes “NOT SET.” 52 Kenmir Avenue, Lot #46, St. David’s | $749,900

Brick VIctorian on 99.39 acres of very productive farm land 70 acres workable & 30 acres of bush, large 2.5 storey 4 bedrm brick Victorian farm house with large barn & workshop. New cistern 3yrs, new septic 1 yr, shingles & furnace 4 yrs. Possible 4 acre severance available call for details. 489 Kemp Road West, Grimsby | $869,900

Call Today 905-945-0188

June 2015

The Golfi Team Real Estate Market Watch

Grimsby, Lincoln West Lincoln & Niagara

Page 7

Rob Golfi*

Large principal rooms

Unique space, completely renovated

Freehold townhome - to be built

Affordable 2+1 bedroom 1990 sq.ft., 2 storey home w/a large floor plan to make this a country dream home! BONUS separate 1 bedroom professionally finished bungaloft w/full kitchen, 3 pc bath, gas fireplace and separate patio w/great income potential to cut your mortgage in HALF! 4058 Fly Road, Beamsville | $ 309,900

This former church has been completely renovated to include 3 possibly 4 bedrooms, open concept living room/ kitchen. Master bedrm creatively situated in one of two loft areas complete w/bathroom ensuite. Possibilities to work at home w/large family room area perfect for multiple uses! 10 Page Street, Port Colborne | $209,900

3 storey 1800 sq.ft. freehold townhome features 9ft. ceilings, 3 great size bedrooms, master with ensuite and walk-in closet, large eat in kitchen, rear yard backs onto pond, double car garage and minutes to all amenities. To be built. Taxes are “not set”. Unit # 12, 5072 Cassandra Drive, Beamsville | $319,900

WATERFRONT

Nearly 30 acres on Twenty Mile Creek Newly built 2 storey home, with in-law sitting on nearly 30 acres. 3 bedrm home w/ open concept living, 1 bedrm in-law w/ basement rec rm. Original barn, 43x24 ft garage/workshop & office. Property borders Twenty Mile Creek, beautifully picturesque. 4429 #69 Regional Road, St. Anns | $849,900

Rare find - this Exclusive waterfront lot in private enclave. Looking for the right neighbor to build a luxury dream home on 140 x 183 ft. lot. Exclusive listing to the Golfi Team. Beautiful Waterfront lot sitting on 140 x 183 ft. lot on private cul-de-sac on the shores of lake Ontario, services include sewers, water and gas to lot line. 143 Lake Street, Grimsby | $955,000

BUilDiNG lOT

Dorchester Estates sweet spot! Spectacular custom built home backing onto the escarpment offering in-ground salt water pool, hot tub, on a prestigious court. Features granite kitch counters, porcelain tiles, stainless steel appliances, main flr LR/DR, den or office, bonus great rm, hardwd flrs, lrg master suite. 28 Heathcote Court, Grimsby | $789,900

WATERFRONT

Business Opportunity - RM2 Zoning

¾ 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

8 acres of Merlot currently planted with Water Views!

Lakefront with 16 acres of vines already planted!

Water Views! Approx 19 acre parcel with fantastic views of the water. Farmhouse currently rented. Great opportunities! Can be purchased with adjoining Sann Road property. Great Opportunity! 4558 Lakeside Drive, Beamsville | $1,199,900

Approx 21 acres property. Build your dream on lakefront parcel or create your own winery. Can be purchased with adjoining Lakeside Dr property. Great Opportunity! 4921 Sann Road, Beamsville | $1,499,900

vAcANT cOmmERciAl lOT

Own your own vineyard!

Turn of the century character home!

Vacant Commerical Lot – NEW PRICE!

Approximately 28 Acres Parcel with 24 acres of vineyard planted. 6 Acres-Sauv Blanc, 6 Acres-Gamay, 5 Acres-Cab Sauv, 5 Acres-Merlot, 1 Acre-Chardonnay, 1 Acre-Sauv Coronation. Home has had some interior updates & new 3500 gallon cistern. 4266 Greenlane, Beamsville | $1,199,900

Beautifully finished with rich trim, crown mould, warm hardwoods, French doors, character front porch. Granite kitchen counter, added on family room with kitchenette & office. Carriage house perfect for the live/work environment. 3869 Victoria Avenue, Vineland | $374,900

VACANT COMMERCIAL LOT 40x140 ft. located walking distance to downtown Beamsville and QEW. Services are on the road. Call Rob Golfi today at 905-945-0188 for a private viewing. Thank you for visiting my website and I look forward to hearing from you. 4946 Maple Avenue, Beamsville, $79,000

www. GolfiTeam .com

Page 8

The Golfi Team Real Estate Market Watch

June 2015

Luxury Homes & Waterfront Properties

Rob Golfi*

Stunning design!

Live on the beach!

21 Acres - 16 acres vines planted!

Approx 21 acres property with 16 acres of vines planted. Build your dream on lakefront parcel or create your own winery. Can be purchased with adjoining Lakeside Dr property. Great Opportunity! 4921 Sann Road, Beamsville | $1,499,900

WATERFRONT

Quiet lakeside neighbourhood condo

Romantic waterfront gem!

Stunning lakefront!

Immaculate 1200 sqft., 2 BR unit in fantastic condition has open & inviting flr plan w/vaulted ceilings. Features oversized great rm w/gas fireplace & lrg windows looking out to gorgeous Lake Ontario, sliding door leading to balcony. Avail. for immed. occupancy. 515 North Service Road, Unit #58, Stoney Creek | $399,900

This custom waterfront home built on a private cul-de-sac features, no lawn maintenance w/private pool & balcony something you see in a travel magazine. Open and inviting floor plan, with large sunny bright window, riparian rights and shore protection in place. 8 Trillium Avenue, Stoney Creek | $1,100,000

Lakefront! 3000 sq ft 3 bedrm, 2 storey. Updates include kitchen w/granite, marble floors, windows, ensuite. Centre hall plan with separate dining rm, main flr laundry, main flr family rm. Stunning 79 ft frontage on private road. 24 Lakeshore Drive, Stoney Creek | $949,900

WATERFRONT

30 AcRES

37+ AcRES

Modern minimalist design!

Nearly 30 acres along Twenty Mile Creek!

37+acres for horse lovers!

Newly built 2 storey home, with in-law sitting on nearly 30 acres. 3 bedrm home w/ open concept living, 1 bedrm in-law w/ basement rec rm. Original barn, 43x24 ft garage/workshop & office. Property borders Twenty Mile Creek, beautifully picturesque. 4426 #6 Regional Road, St. Anns | $849,900

Dream hobby farm for horse lovers! Scenic 37+ acre property w/lrg home, barn (4 'soft mat’ stables), & run-in. Close to HWY access & city conveniences. Beautiful eat-in kitch, living rm w/wood stove, lrg foyer, 3 BRs & many extras. 2832 Glancaster Road, Ancaster | $824,900

WATERFRONT

21.3 AcRES

Views of the Canadian and US shores

Dorchester estates sweet spot!

Circa 1864 Manor!

Spectacular Custom built home backing onto the escarpment offering in-ground salt water pool, hot tub, all on a prestigious court. Features granite kitch counters, porcelain tiles, stainless steel appliances, main flr LR/DR, den or office, bonus great rm, hardwd flrs, lrg master suite. 28 Heathcote Court, Grimsby | $789,900

Call Today 905-575-7700

June 2015

The Golfi Team Real Estate Market Watch

Page 9

Housing prediction for Hamilton Prices forecast to increase 7 percent By Steve Arnold

to drift higher. CMHC predicts housing starts in the Hamilton-Burlington-Grimsby area will fall from 2,832 in 2014 to 2,660 this year and to 2,600 next year. Sales of existing homes are expected to dip from 14,324 last year to 13,400 next year. Average prices during the same period will rise just over 7 per cent to $435,000. The CMHC predictions ring true for front-line realtors Conrad Zurini of Re/Max Escarpment, and Judy Marsales of Judy Marsales Real Estate. Zurini said his agents are booking 10,000 appointments a month, a level of activity "that shows me there's still a lot of demand in our market." While he agrees with the overall CMHC trend, Zurini said his own prediction for price increases is lower — maybe 6 per cent this year. "We are looking at tempering people's expectations a little," he said. "Despite that, we still had an April that we never thought was imaginable."

HAMILTON'S housing market is heading for a two-year downturn, according to the latest statistics from the Canada Mortgage and Housing Corporation. In its spring outlook report, the agency predicts housing starts and resales will dip in the region this year and next. Prices, however, will show a comfortable increase. CMHC's second quarter outlook report, released Monday, says builders are scaling back their activity in order to manage a growing inventory of completed but unsold new homes. Sales of existing houses will slow this year and next, but remain above the 10-year average. In a news release, CMHC regional analyst Abdul Kargbo said the slowdown he predicts won't be broadly based — stronger activity is expected in east and central Hamilton and in Dundas, Waterdown and Grimsby while Flamborough, Ancaster and Burlington will see demand cool slightly, especially in 2016 when mortgage rates are expected

continue to grow, particularly for single family homes, demand will increasingly shift to more affordable housing." Tsiakopoulos predicted housing starts in Ontario will range between 56,800 and 64,200 this year, dipping to between 54,500 and 63,600 next year.

Zurini and Marsales agree rising prices in Hamilton are a response to lack of supply, not soaring demand for homes. "It isn't a tsunami of demand that's driving prices here, it's a lack of supply," Marsales said. Time may solve some of that problem, she added, as more people decide the current hot market may be the time to sell. "Our phones are starting to ring with people looking to sell," she said. "We just don't have enough product on the market to meet the demand that's out there," Zurini added. The predicted slowdown in Hamilton partly matches the outlook for the rest of Ontario where CMHC is calling for increased housing activity for the rest of this year, followed by a slowing in 2016. "An improving economy will be more supportive of the Ontario housing market in 2015 than it has been in the recent past," CMHC economist Ted Tsiakopoulos said in a news release. "However, as mortgage carrying costs

Sales of existing homes across the province will gradually lead the market higher with a forecast ranging between 192,800 to 218,000 units this year before slowing to between 182,900 and 213,400 units in 2016. The CMHC report generally mirrors a recent outlook produced by the Conference Board of Canada. That study called for sales of 15,672 homes this year, an increase of 13.7 per cent over 2014. Listings, however, are expected to increase only 0.1 per cent to 20,520. Average prices are projected to rise eight per cent to $431,188.

Contractors going bankrupt mid-renovation a “nightmare” for homeowners: experts there’s very little (homeowners) can do,” he said. The problem can get even worse for homeowners if subcontractors haven’t been paid. Once an independent contractor has worked on someone’s land, they have an automatic right to register a lien — a type of security interest granted over an item of property to secure the payment of a debt — against its owner, Weisleder said. “(Homeowners) know (subcontractors) are doing work on their property, and that’s why they’re responsible for

Toronto real estate lawyer Mark Weisleder says homeowners won’t get their money back and may have cover the cost wages for unpaid independent contractors. A contractor going bankrupt mid-renovation is a “nightmare” situation for homeowners, experts say. If a construction company goes bankrupt mid-project, homeowners aren’t likely to see their money again, said Toronto real-estate lawyer Mark Weisleder. “As far as going after the contractor,

payment,” he said. Weisleder said he has seen homeowners lose double the money or even the property itself when faced with the cost of both their lost payments and liens. Employees working for a bankrupt company are protected under Ontario’s Employment Standards Act, said Toronto employment lawyer David Whitten. Under the act, directors of a bankrupt company are personally liable for unpaid wages for up to six months. If the company has no money, the directors’ personal assets will be seized.

The act does not cover independent contractors, forcing them to file a lien, he said. If employees find themselves in that situation, they should file a complaint with the Ministry of Labour, keeping in mind the ministry can only pay out a maximum of $10,000 per person, Whitten said. “If you’re owed more than $10,000, if you get that close, consider whether you should still be providing services,” he said.

THE ULTIMATE SELLING TEAM RoB GolFi SAlES REpRESENTATIvE

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Page 10

The Golfi Team Real Estate Market Watch

June 2015

Marketplace Real Estate Lawyer

Paul Lewis Settimi

Barrister, Solicitor and Notary Public

Jacqueline Paradisi

20 Main Street West Grimsby, Ontario L3M 1R4 Bus: 289-235-7500 Fax: 905-527-0774

8 Main Street East, Suite 303 Hamilton, Ontario L8N 1E8 Bus: 905-527-0808 Fax: 905-527-0774

HOME STAGING

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if you’d like to learn how Bni (www.bnigh.com) works and what it can do for your business, call or email me at laura@golfiteam.com. i can arrange for you to visit a chapter meeting close to you so you can see how Bni helps members develop referral business relationships. two Bni chapters in the Gta recently reported referral business totaling $1m for the past year!

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June 2015

The Golfi Team Real Estate Market Watch

Page 11

Housing Market Supported by Ontario Economy in 2015 TORONTO, May 25, 2015 — Following inclement weather in early 2015, Ontario housing activity will increase throughout most of 2015 before slowing next year, foresees the Second Quarter 2015 CMHC Housing Market Outlook released today. Ontario annual home starts will range between 56,800 to 64,200 units in 2015 and 54,500 to 63,600 units in 2016. “An improving economy will be more supportive of the Ontario housing market in 2015 than it has been in the recent past,” said Ted Tsiakopoulos, CMHC’s Ontario Regional Economist. “However, as mortgage carrying costs continue to grow, particularly for single family homes, demand will increasingly shift to more affordable housing”. Demand is expected to be stronger in resale markets neighbouring the GTA. Strengthening preferences for higher density dwellings as well as for home rental versus ownership are also expected. Sales of existing homes, typically less expensive than new homes, will gradually lead the market higher. MLS® sales are forecast to range between 192,800 to 218,000 units in 2015 before slowing between 182,900 to 213,400 units in 2016. Ontario home prices will grow at a slower rate over the forecast horizon. As Canada’s authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers objective housing research and information to Canadian governments, consumers and the housing industry.

18 20 21 22 25

371.95

873.46

402.95

280,000

940.65

433.94

300,000

1,007.84

464.94

320,000

1,075.03

495.93

340,000

1,142.21

526.93

360,000

1,209.40

557.92

2.05%

the Solution 8 5 1 2 4 7 3 9 6

806.27

260,000

9 6 7 8 1 3 4 5 2

2 paramount directed, for Spooner, a film (4,3) 3 Cut stolen by tory, regularly — he'll take the money (5) 4 inner area of plant identified retaining power, (zero) before party turning up (7) 6 not bright to ignore capital, making saving (6) 7 this contemplated

240,000

4 3 2 6 5 9 8 7 1

Down

surfacing to bandage hit, a rabid sea monster (9) monarch, abandoning sinking boat at sea, comes by (7) Don't stop till you've finished — try trotters and all? (2,3,5,3) Solver primarily in support of clues, not foreign legion (9) a rival to us concealing one's disbelief (7) italian chap claiming fine to accept the delivery (4,3) Spoon perhaps required, as classy figure is raised on lager, initially (7) Go without watch — about five? (6) Defenceless clergyman upholding mozart's character? (5)

340.95

2 9 4 5 6 8 1 3 7

24 See 14 26 See 23 27,16 Game — not entirely important around one's school, as following (4,5) 28 Dazzling charmer, big hitter? (7) 29 is it just for cooking pancakes? Good question (7)

309.96

739.08

7 1 6 3 9 2 5 8 4

Game, this riotous nonsense breaking free in toilet (7,7) 5 See 1 10 Game, Jack in this number? (4) 11 Bent clip, ivory, moulded round first of teeth (10) 12 Germ doctor tracks in videoing heart (6) 13 Spanish in contrast to her serenity? (8) 14,24 Game to have a go at, blue then red (5,4,6) 16 See 27 17 General having fit behind Churchillian salute (5) 19 Broad agreement on sloppy leadership in survey (9) 23,26 Game with two hammers felt frantic (5,3,4,2,4)

671.89

220,000

5 8 3 4 7 1 6 2 9

1,5

200,000

SUDOKU

www. GolfiTeam .com

1 2 5 7 3 4 9 6 8

Across

Bi-weekly Payment

As of June 2015 OAC

3 7 9 1 8 6 2 4 5

(Solution on Page 10)

Monthly Payment

6 4 8 9 2 5 7 1 3

Crossword puzzle

Mortgage Amount

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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