June 3, 2013 Issue 72

WHAT’S INSIDE: Home Construction Slowdown may be Good News for Real Estate PAGE 8

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

HOMES FOR SALE Hamilton, Stoney Creek, Ancaster, Dundas & Glanbrook Listings PAGE 7

June 3, 2013 - Vol 52

Rob Golfi Sales Representative

38 Niagara on the Green Niagara on the Lake, ON See page 4 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

June 3, 2013

WHAT’S ONLINE See what’s on our blog this week!

Visit www.golfiteam.com and click on the BLOG tab.

rs: How to Home Inspecto d One Choose a Goo Rob and Sue Golfi

Since 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.

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 HamiltonBurlington and Niagara areas, listing with Rob and the Golfi Team is the right choice when choosing someone to represent your best interest.

Conditions on an Offer don’t mean you should stop considering others Q I've accepted an offer on my home that has several conditions. Can I consider other offers before those conditions have been fulfilled?

A Don't be surprised or worried if you receive a conditional offer on your home. It's common, and even encouraged by RECO, for a buyer to include conditions on any offers they submit to protect their best interests.

As a seller, keep in mind that while most conditional agreements result in a final sale, your house hasn't actually sold until those conditions have been met or waived.

In the meantime you are free to show your house to other buyers.

Your real estate representative is obligated to tell any other potential buyers that a conditional offer has been accepted. If you do receive another offer, it will include a condition related to you being released from the conditional agreement.

Just as a conditional offer protects the buyer, keeping your house on the market until a firm agreement is reached will protect you as the seller.

Joseph Richer is RECO's registrar overseeing professional conduct of real estate professionals in Ontario. More tips at reco.on.ca, follow on Twitter @RECOhelps or on YouTube at http://www.youtube.com/user/RECOhelps.

ALSO:

The Lates t Listings in Your Ar ea

The latest listings in Hamilton, Stoney Creek, Grimsby & Niagara area Read more on www.GolfiTeam.com

Exercise your Rights with a Carefully Planned Will

W

riting a will is one of those responsibilities many people put off. But the fact is, nobody should be without a will. A will gives you the unique opportunity to exercise your rights and to decide where your assets will go. With a will, nothing is left open to misinterpretation and your wishes will be respected.

If there is no will, your estate will be distributed according to the laws of the province where you live. These laws are inflexible and may not take into consideration the care of people or organizations you wish to remember. They don't make exceptions and property is distributed according to an all-purpose plan. They may deplete your estate unnecessarily, for example, requiring that a court-appointed administrator be bonded.

The laws also 'fly blind' trying to guess your desires concerning who should be your administrator, or who should be guardian of your children if they are minors.

They also cannot make charitable bequests or gifts to causes like cancer research or Amnesty International, which you supported in your lifetime. Only a personal will can do that.

Here are the answers to some commonly asked questions: Q Don't only wealthy people need wills?

A Actually, the smaller the estate, the more important it is that it be settled quickly to avoid additional expense. This can only happen with a properly written will.

Q Don't only people with troublesome relatives need wills?

A Even family members with the best intentions may be puzzled and confused as to what your wishes may have been in the absence of a will.

Q Isn't it expensive to have a will prepared?

A Wills are usually less costly than people expect and can help avoid the emotional and financial costs of not having a proper will.

Lawyers charge for their time and knowledge, so it is important to be prepared. Here are three simple steps you can take to save money: • Make a list of all your property, including real estate, bonds, savings accounts, RRSPs, jewellery, family heirlooms and works of art — everything.

• List the people you want to provide for, along with their ages, addresses and their relationship to you.

• Name your executor and alternative executor (preferably both younger than yourself), and suggest a guardian for your children if they are minors.

If you would like more information on this topic please contact Philip Anthony Kuca (P.C.) B.A. (Hons.), LL.B., Centennial Law Group, at pkuca@cenlawgroup.com or 905-526-0736.

Excerpt from www.newscanada.com

www. GolfiTeam .com

June 3, 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.

2

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

1998-2013

2002-2012

Award Award Chairman’s

Hall of Fame

Club

2003-2012

IN CANADA

Fort FortErie Erie

40 Award Award

20

RE/MAX TEAM

Inducted 2003

Award Award Lifetime

Achievement

Inducted 2006

Diamond

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

Information based on recorded commissions paid between January and December 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

June 3, 2013

Real Estate: Seller’s Remorse can be a Costly Thing I recently took my kids to see the house in To r o n t o where I grew up. It had been our family home for 40 years, until my parents passed away.

It sat empty for almost a year after they were gone, as it was very hard for me and my siblings to sell it. We sold it to buyers who moved in and did minor renovations. I am not sure whether we would have agreed to sell it to someone who wanted to tear it down.

Selling a family home is never easy, because there are so many emotions attached to it. However, once the decision to sell is made, you have to let it go.

A new owner can do what they want with the property regardless of your memories as this case shows: In November, 2011 Marsha Kriss signed an agreement to sell her parents’ home on Ardmore Ave. in Toronto’s Forest Hill neighbourhood for $1.7 million in a deal that was supposed to close two months later. Her parents had lived in the home for over 50 years and the home had special memories for her. It was important to her that the home not be demolished.

The buyers, Barbara and Eric Kirshenblatt, paid a $100,000 deposit and intended to make substantial renovations to the home. They commissioned Eric’s brother Stephen Kirshenblatt, an architect, to make the plans. When Kriss found out about the plans, she wanted out of the deal.

She knew Stephen Kirshenblatt and sent him an email. It said in part: “As I have now heard . . . that my parents’ home is slated for demolition, I

want it verified from you whether you did in fact change your mind, or was it your intention all along. That would change the whole deal. I did not sign on for demolition. Why, that might shred my very soul after 56 years. I could not handle the house being knocked down. That is a DEAL BREAKER. … To you it is just another house, and I have given you an alternative equivalent two doors away. To me it is my parents’ home of 56 years.”

According to material filed in court, the parties negotiated an end to the agreement and agreed the deposit would be returned. But Kriss refused to sign the release or return the deposit. She considered the agreement over and then resold the property to another buyer in May 2012, for $190,000 more.

The Kirshenblatts brought a motion to the court for the return of their deposit.

In a decision dated November 5, 2012, Judge Robert Goldstein determined that Marsha Kris had breached the agree-

ment and that Barbara Kirshenblatt and was entitled to the return of her deposit.

As the judge stated: “The promises to sign a release and then fail to sign it, the changing conditions are evidence that Ms. Kriss was either playing a game of some kind or was genuinely distraught over the fate of her parents’ home. Either way, it would be unjust to allow Ms. Kriss to keep the deposit, especially where she was able to make $190,000 more than she would have had she sold the house to Ms. Kirshenblatt.”

Toronto lawyer Philip Sutherland who represented the Kirshenblatts on the motion says the case is not over, as the buyers may decide to sue for the $190,000 profit Kris made from the second buyer.

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

Timeshares: What you Need to Know

Timeshares have a terrible reputation. Too bad, as this vacation option can really add value if purchased wisely.

A couple of weeks ago I spoke to a reader who was more than a little concerned over the tactics used by the salespeople at a St. Maarten resort. After a 90minute tour—and a promise of either a free massage or free dinner—he and his wife were barraged with personal questions regarding their finances and their vacation goals. Throwing out costs and savings— with nothing to back up the assertions— these “hard-nosed” salespeople were trying to convince this reader to buy a $50,000 resort timeshare.

Often, it’s these encounters—followed by less than desirable vacation experiences— that give timeshare ownership such a horrible reputation. But the reputation is unwarranted. In fact, a timeshare can be an excellent budget option for vacations, as long as you do your homework.

“Nothing matches the value of a timeshare,” says DG Southen, an experienced real estate investor from London, Ont. For the last decade Southen has bought, sold and used timeshares. Southen, and thousands like him, has found ways to make timeshares work as cost effective vacation options.

In the current issue of MoneySense magazine (“Own A Piece of Paradise,” June 2013), I touch on the effective use of timeshares, but I want to expand on my coverage. Partly because timeshares are a misrepresented vacation option, and partly to help those interested in purchasing timeshares to make more informed decisions.

What, exactly, is a timeshare?

The idea behind a timeshare is relatively simple. It’s an agreement where you share the costs and use of a home, cabin or condo with other people. When you buy a timeshare you are buying the right to use these shared facilities and paying the costs for such rights.

Unlike hotel rooms, and much like resorts, timeshare units offer more than just a place to sleep. Typically they come with full kitchens, are completely furnished, have quick access to indoor and outdoor pools, as well as other resort amenities, such as restaurants, night clubs and even babysitting services.

How do timeshares work?

There are three basic types of timeshares: right-to-use, fee simple, and a point system or vacation club timeshare. The rules are different for each one—and this can dramatically impact the price and

resale value of the timeshare (along with other factors that I’ll get into later).

Right-to-use timeshares are contracts to lease a property, usually for one or two weeks each year, over a set period of time.

During this time you are responsible for all maintenance fees and any special assessment fees, should they arise. (Like a condo, timeshare resorts must maintain a property.

At times significant repairs are required and to pay for these repairs, the resort will levy a one-time special assessment fee that is shared by all owners of the timeshare resort.) At any time you can rent, give away, or sell your right-to-use ownership of the timeshare.

A fee-simple timeshare, also known as a deeded timeshare, is essentially like buying the property for a specific period of time each year. You will be responsible for the purchase price, as well as annual maintenance fees or special assessment fees, should they arise. You may also need to pay property taxes or other fees although many timeshares now roll these costs into their annual maintenance fees.

Timeshare point systems or vacation clubs allows you to buy points within a resort network. You can then use these points to “purchase” the vacations available within the specific network. The benefit of a point system is that it doesn’t lock you in to a specific property and time each year. Instead these points give you access to multiple properties worldwide and some even allow you to purchase flights, cruises or other types of vacations offered within the system.

What will my timeshare actually cost (resale vs. retail)?

According to industry statistics, 50% to 70% of a timeshare’s retail price—the price you pay at the resort after listening to a timeshare sales presentation—goes towards marketing. For instance, if, during one of those presentations, you purchased a timeshare for $20,000 as soon as you walked out of the room, the value of that timeshare would drop to between $6,000 and $10,000, if that.

The easiest way to save money, then, is to buy resale not retail. This is how Southen has kept his vacation costs down and his timeshare value up. There are a number of websites that offer resale timeshares, such as Ebay, Tug2.net and Redweek.com.

Next, you’ll need to calculate one-

time costs and ongoing fees associated with timeshare ownership. For instance, just to finish the transfer transaction you’ll pay between $300 and $500 in closing legal costs, plus another $50 to $300 to the resort. Factor in the annual maintenance fee—fees that cover the operation of the timeshare resort—fees you must pay even if you don’t end up using your timeshare.

These fees range from $300 to $2,000 (or more) per year depending on the resort, destination and luxury level you’ve bought into.

You should also be aware of special assessments. Southen went through this with a timeshare he owned in Whistler, B.C. The resort required additional structural repairs and, like a condo, each timeshare owner had to foot the bill. Southen got off lucky. He, and all the other owners, only had to pay $1,000 each to cover the repairs, but it could’ve been worse. To avoid these unexpected costs call the resort property manager and ask when the last assessment took place and when the next one is scheduled to take place. If the resort waits too long between assessments— more than five years—then, you as an owner, may end up with a hefty one-time maintenance bill.

Where do I start my research?

Start with a pen and paper and make a list of all the amenities and destinations that would suit your family best, along with your ideal times for taking these vacations.

Then start checking the online auctions to see what prices your ideal choices are selling for in the current resale marketplace. “Don’t bid on anything, just watch,”

www.golfiteam.com

advises Southen. “You won’t miss anything, because there’s always another good deal.”

At this time also watch and learn how specific auction sites work. For instance, sellers on Ebay can choose to end an auction early, and sell to the highest bidder, once they’ve achieved a set bid price.

Other auction sites won’t allow “snipe” bids—bids made in the last minute or so.

For instance, Redweek.com will add another 30 minutes to the clock for every “snipe” bid made within the last 10 minutes of the auction.

As you research you may find that some of your top choices are just too expensive for your budget. For example, a two-bedroom, ocean front villa in Myrtle Beach you have your eye on will start at $14,000. Despite the sticker price, any veteran timeshare owner will tell you this is an excellent deal—it’s a vacation area that’s always in demand and retains its value. But it may be a bit pricey for the budget conscious vacationer. Instead, you could pick up a great two-bedroom at the Sheraton Desert Oasis in Scottsdale, Arizona (which recently sold on Ebay for US$2,000), or a two-bedroom, ocean front, every-otheryear timeshare at the Pahio Kauai Beach Villas in Hawaii (which recently sold on Ebay for US$1,300).

The key to getting a good deal is to watch the auctions, learn the system, and do your homework, says Southen. Then match what you’ve learned with what your family needs and wants and you won’t end up overpaying.

By Romana King Blog

June 3, 2013

The Golfi Team Real Estate Market Watch

Grimsby, Lincoln West Lincoln & Niagara

Rob Golfi*

grimsBy

Page 5

$649,900

grimsBy

$345,000

niargara-on-the-lake $289,000

grimsBy

$319,900

511 Main Street West

20 Tami Crescent

38 Niagara on the Green

48 Park Rd North

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.

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.

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!

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!

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

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

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

grimsBy

$339,900

Beamsville

$264,900

Beamsville

$312,000

$1,209.82 per/mth P&i / o.a.C.

niagara-on-the-lake

$259,900

26 Brierwood Avenue

4851 Adam Court

4084 Barry Drive

24 Robertson Road

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.

Stylish 3 bedroom open concept design townhome. Maple kitchen with island and backsplash. Large master bedroom w/ ensuite and walk-in closet. Garage entrance to fully fenced backyard.

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.

$1,285.45 per/mth P&i / o.a.C.

$1,001.81 per/mth P&i / o.a.C.

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

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.

vineland

$499,900

smithville

$474,900

grimsBy

$265,000

Beamsville

$989,900

3905 Cody Trail

55 Las Road

49 Cline Mountain Rd. S.

4895 Lister Road

PRESTIGIOUS BUNGALOW WILL TAKE YOU BY SURPRISE! – This custom built has all the luxury you want & more! Hardwd flrs, custom kitch cabinetry w/stone counters, breakfast bar, crown moulding, master bedrm w/rich hotel style ensuite, & covered patio. Still time for you to choose your colours!

PRESTIGIOUS BUNGALOW WILL TAKE YOU BY SURPRISE! – This custom built has all the luxury you want & more! Hardwd flrs, custom kitch cabinetry w/stone counters, breakfast bar, crown moulding, master bedrm w/rich hotel style ensuite, & covered patio. Still time for you to choose your colours!

AFFORDABLE, & ADORABLE 4 BEDRM HOME – Features bright hardwood floors through-out, updated kitchen with backsplash, separate dining room with sliding doors leading to fenced and spacious back yard, shingles 6yrs. new, mostly vinyl windows, finished rec-room in basement, quick access to QEW.

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.

$1,890.55 per/mth P&i / o.a.C.

vineland

$229,900

$1,796 per/mth P&i / o.a.C.

st. Catharines

$264,900

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

$1,002.19 per/mth P&i / o.a.C.

vineland

$264,900

West linColn

$359,900

3956 Durban Lane

55 Longfellow Avenue

3506 Rittenhouse Rd

8530 Silver Street

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

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.

Updated 3+1 bed bungalow with large living room, eat-in kitchen with 3 new appl. New roof 2012, newer furnace, CA, windows, exterior doors & maintenane-free facia, soffits & eaves. Basement re-done with large rec room & additionall bedroom.

CHARACTER HOME Circa 1865 – Sitting on 1.22 Acres, 4 bedrm, 2 bathrms, over $200,000 in updates, beautiful pine plank flrs, large country size kitchen, updated vinyl windows, newer furnace & C/air, inground pool, 20x32 ft hobby barn + dble car garage 15 min drive to Hamilton.

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

$1,001.81 per/mth P&i / o.a.C.

$1,001.81 per/mth P&i / o.a.C.

$1,436.73 per/mth P&i / o.a.C.

Beamsville

$399,900

Beamsville

$779,900

st. Catharines

$394,500

Beamsville

$599,000

4359 Tamarac Avenue

5109 Leonard Crescent

8 Westport Avenue

4130 St. George’s Drive

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.

9.2 acres on Escarpment bench, surrounded by trees is minutes from town. Secluded 1900 sq.ft. bungalow features stained oak hrdwd flrs, large liv. rm with showcase fireplace. Flr to ceiling sliding doors lead to backyard oasis overlooking Lake Ontario. C/A, vinyl windows & shingles in the last 10 yrs, & oversized 23x23 ft. double garage.

Prestigious area, walking distance to Port Dalhousie. Impressive open concept layout. Main level has hardwood flooring, living room with a wood burning fireplace, large family room surrounds eat-in kitchen w/plenty of countertops, cabinets, pot drawers & pantry storage. 2 patio doors lead to deck and private backyard.

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.

$1,512.37 per/mth P&i / o.a.C.

$2,949.47 per/mth P&i / o.a.C.

$1,550.18 per/mth P&i / o.a.C.

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

Call Today 905-945-0188

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271,900

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Sales Office Hours: Tues & Thurs 1-5pm, Sat & Sun 1-4pm Monday, Wednesday & Friday by appointment

www.GolfiTeam.com | 905-945-0188

Page 7

The Golfi Team Real Estate Market Watch

Rob Golfi*

hamilton east

June 3, 2013

Hamilton, Stoney Creek, Ancaster, Dundas & Glanbrook

$179,900

hamilton mtn

$214,900

hamilton east

$319,900

Brantford

$329,900

29 Tragina Avenue North

387 Thayer Avenue

159 Adeline Avenue

3 Hollinrake Avenue

SHOWS GREAT! FRESHLY PAINTED READY TO MOVE IN! First time buyer ready, 3 bedroom in a quiet East end neighbourhood. Big front porch, interlock front drive, walkway & patio. Nice sized separate dining room, finished bsmt. & great backyard fully fenced. Close to schools and shopping.

Centrally located on Hamilton Mountain, this 3 Bedroom home is a great opportunity to put your own finishes to.

Large fenced backyard has beautiful mature trees with plenty of space for pool to make your own oasis.

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.

GORGEOUS HOME, SHOWS 10+++. Empire built and loads of upgrades, carpet only in two bedrooms, granite, fireplace, island in kitchen, mostly finished basement with 2 piece bath, excellent landscaping and fully fenced. Huge master w/ensuite and walk-in closet. Ready to move in condition!

$680.36 per/mth P&i / o.a.C.

$812.72 per/mth P&i / o.a.C.

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

$1247.64 per/mth P&i / o.a.C.

ONE R E OTH N A D SOL stoney Creek

$343,900

anCaster

$539,900

stoney Creek

$359,900

stoney Creek

$479,900

14 Goldeye Drive

34 Norma Crescent

28 Sandy Drive

145 Edgewater Drive Unit #7

2 Storey, 4 Bedroom, 3.5 bathroom home in sought after Lakepointe Community. Don’t miss out on this top to bottom finished home. Open concept main floor, bedroom level laundry and room for the family to grow!

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.

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.

NEWPORT YACHT CLUB – Incredible view backing onto Harbour, features beautiful hardwd flrs, dream kitchen w/granite counters tops, professionally finished basement w/walk out, master bedrm with luxury ensuite & large walk in closet, new furnace (08), private boat slip available directly behind.

$1,300.58 per/mth P&i / o.a.C.

BinBrook

$384,900

$2,041.83 per/mth P&i / o.a.C.

hamilton east

$194,900

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

Burlington

$949,000

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

stoney Creek

$479,900

92 Windwood Drive

2 Melvin Avenue

470 Patricia 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.

GARAGE MADNESS! This property features an oversized brick garage with hydro. Furnace and C/A are rental. Nice lot close to shopping and major bus line, minutes to Redhill and new Center Mall. Updated windows, wiring and plumbing.

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

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.

hamilton mtn

$259,900

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

$737.08 per/mth P&i / o.a.C.

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

hamilton east

$350,000

glanBrook

$354,900

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

Burlington

$989,000

421 Concession Street

867 Beach Blvd.

1635 Glancaster Rd.

476 Patricia Drive

Desirable location near Juravinski Hospital. 2 Parking spaces. Basement apartment. Possible 2nd one bedrm apartment on 2nd floor. Current use of main floor is retail space. Good income generator or owner occupied business space. For sale building only. Buyer to verify use.

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.

Renovated country bungalow on 75x576 ft. lot minutes to the city, custom maple kitchen with granite, Brazilian flooring, 20x20” tiles, new windows, shingles (’06). If you love the country & want to feel like you are living in a new home than this place is for you.

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

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

$982.91 per/mth P&i / o.a.C.

WaterdoWn

$384,900

stoney Creek

$517,900

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

$1,342.18 per/mth P&i / o.a.C.

hamilton east

$169,900

hamilton mtn

$159,900

6 Sunnycroft Court

177 Silverlace Circle

117 Fairfield Avenue

36 Poplar Avenue

Modern executive home features open concept layout, kitchen with granite counters & breakfast bar, great room w/gas fireplace & hardwood floors. Fully finished basement w/oversized windows, a rec room, wet bar & 3pc bath.

Elevated deck, retractable awning, fully fenced yard & shed.

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.

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!

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

$2,068.58 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.

Call Today 905-575-7700

Page 8

The Golfi Team Real Estate Market Watch

June 3, 2013

Home Construction Slowdown may be Good News for Real Estate Rosenberg notes in his May 9 research report: “Housing starts for the past four months have come in below underlying demographic needs of around 185,000 units per year, and that is a critical part of the process in terms of prices finding a bottom.”

Second, I believe Roberto Cardarelli, the International Monetary Fund’s chief economist for Canada, has it right when he says the hit to construction-related sectors and homeowners’ consumption will be offset by an expansion in other industries. “We expect the pace of expansion [in Canada] to accelerate over the course of 2013,” declares Mr. Cardarelli in the IMF Survey Magazine. “The main reason for our optimism is that we expect export growth to strengthen, as the recovery in the U.S. economy gradually steps up the pace.”

Many people are worried about recent softening in the housing market,

Succession Planning, will your business survive?????

by Gianni Leonetti, Leonetti Consulting Succession planning can cause chaos in the family business and the family, especially if the process occurs only once and without a significant investment in planning. Here are three ideas to help ensure success for your family business.

1. Hire the most competent advisors (lawyers, accountants, financial planners and family business experts you can find and afford) Succession planning is a complicated process and requires different kinds of expertise, not every professional service advisor has the special training and experience necessary.

For instance, few lawyers and accountants are specifically trained or experienced in this field. You may wish to consider using family business experts to act as a quarterback for the succession planning process.

2. Business valuation is a critical element of succession planning.

There are many reasons to value a business. Unlike socks where one size fits all, one valuation does not fit all situations.

A valuation for sale to the next generation of family has different formulas than a valuation for sale to someone outside the family. Yet a different formula would be used for estate tax planning purposes. Depending on the purpose of the valuation, costs can vary significantly. Less complicated valuations done for planning purposes can be very affordable. Some family business owners value the business every year as part of

their strategic planning process.

3. Funding the succession plan is crucial in order for a business to survive and move forward. It is important to understand that the business may need to grow significantly in order to pay the transition costs which include taxes, insurance, professional advisors, setting up trusts and purchasing the business stock. Or, funds that would be available for expansion or to pay out to the family will have to be retained in the business for the transition. Either way, planning for this cash flow requirement will ease the transition.

A good rule of thumb is that the business needs to grow by at least 20 percent more than the normal growth pattern to offset the costs of succession without disrupting the profitability and cash flow of the business.

Another viable option available for the business owner to fund a succession plan is to utilize a life insurance plan, which would be paid from the corporation and owned by the corporation. As opposed to a business using their own capital to fund any of the above events they can simply pay a premium, and possibly get more of a bang for their buck in the event not enough capital has been raised by the business. Give us a call today and we can discuss the best possible solution for your business succession strategy.

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

Chinese economy and commodity markets, but the U.S. accounts for about 75 per cent of Canadian merchandise exports. As it engages in unprecedented monetary stimulation and ramps up its econo- Homes under construction in Richmond Hill, Ont., are seen in my, there should be this file photo. (Moe Doiron/Moe Doiron/The Globe and Mail) a substantial and positive spill-over conditions from weaker construction effect for Canada. activity and more moderate consumpFurthermore, “as the U.S. economy tion,” he concludes. strengthens and commodity prices modIn short, the current housing slowerate, we would expect some natural down likely isn’t headed toward a hard depreciation of the Canadian dollar, landing. which will help boost exports and ecoLarry MacDonald is a retired econonomic growth,” adds Mr. Cardarelli. mist who manages his own portfolio and “These positive developments writes on investing topics. He tweets at should more than offset the unfavourable @Larry_MacDonald

GOLFI

T

he housing bears ask: what’s to keep the soft landing in housing from morphing into a hard landing? Won’t a slowdown in sales and prices, they ask, curb housing-related industries and homeowners’ consumption, producing a retrenchment in the economy that leads to greater selling pressures in the housing sector? Let me try to answer the housing bears’ questions, although it may not be quite the response they would like to see.

First, a drop in home construction is actually a positive development for the housing market. It supports prices by curtailing supply. Layoffs in housing-related industries could possibly dampen the economy and cut into housing demand, but there will be an offset on the supply side.

In fact, the home building industry is now cutting back. But this is good news.

As Gluskin Sheff economist David

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June 3, 2013

The Golfi Team Real Estate Market Watch

Page 9

COMMERCIAL Waterford

$399,900

hamilton mtn

$259,900

Beamsville

$235,000

0 Mechanic St. West

421 Concession Street

4993 King Street

Parcel located at the corner of Mechanic St. & Norfolk, close to shopping and recreation. Water and sewer at the street. OMB approved 25 townhomes and 5 detached homes building site.

Vendor willing to consider severing and selling separately detached home lots.

Desirable location near Juravinski Hospital. 2 Parking spaces. Basement apartment. Possible 2nd 1 bedrm apartment on 2nd floor. Current use of main floor retail space. Good income generator or owner occupied business space. For sale building only.

Buyer to verify use. H zoning allows many uses.

Prime location in downtown core. Storefront with large window, front & back entrances can suit 2 businesses or 1 large one. Parking spaces in rear & municipal parking lot. New furnace & 2pc bath. 600 sq.ft. of business space with GC zoning, + 800 sq.ft. 2 bedroom apartment on upper level. Tenant pays hydro.

$1,512.37 per/mth P&i / o.a.C.

$982.91 per/mth P&i / o.a.C.

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

hamilton Ctr

$289,900

hamilton mtn

$975,000

hamilton mtn

$750/mth

673 King Street East

516-526 Concession Street

518 Concession Street

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

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.

Commercial property for Lease! Located in a high traffic location near Tim Hortons and Shoppers Drugmart with 450 sq.ft. Zoning would allow for a coffee shop, office, and retail business.

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

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

FREE

E M O H EVALUATION CALL TODAY

THE GOLFI TEAM

905-945-0188 Not intended to solicit prope

rties currently for sale.

Crossword Solution

Call Today 905-575-7700

Page 10

The Golfi Team Real Estate Market Watch

June 3, 2013

Marketplace real estate lawyer

Paul lewis settimi

Barrister, Solicitor and Notary Public Competitive Pricing & Free Estimates

GATEWAY YARD MAINTENANCE

289-273-2951

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Mortgage Planner fala português

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June 3, 2013

The Golfi Team Real Estate Market Watch

Page 11

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CROSSWORD PuzzLE (Solution on Page 9)

SUDOKU 7 8 9 6 9

7

1

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5

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6

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6 3 5 9

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9

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Call Today 905-575-7700

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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