November 18, 2013 Issue 83

WHAT’S INSIDE: Why two Deposits on a Home Purchase offers Protection PAGE 9

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

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

PAGE 5

PAGE 8

November 18, 2013 - Vol 58b

190 Creekside Drive Welland / Page 4

Rob Golfi Sales Representative

GET YOUR

HOME SOLD CALL NOW!

905-575-7700

905-945-0188

Page 2

The Golfi Team Real Estate Market Watch

November 18, 2013

Whatever happened to being neighbourly?

About Rob Golfi

R

ob’s career in real estate began in October 1997 and putting the needs of his clients first has always been a primary principle. Rob joined RE/MAX Escarpment January 1st 1999. As his career grew and with changing times in the marketplace, Rob realized that the team concept was the next step in order to maintain the same level of service that his clients had come to expect. Hence, “The Golfi Team” was formed, comprised of a select group of individuals who work well together and share Rob’s team philosophy. In 2003, the team received the prestigious honour of being in the top 100 Real Estate Teams for RE/MAX Canada*. And this status continues to date*. Rob has received every major award available at RE/MAX including the Diamond Club (2010-2012)*, 100% Club (1999-2001)*, Platinum Club (2002)*, Chairmans Club (2003-2009)*, Hall of Fame (Inducted in 2003)*, and the Lifetime Achievement Award (Inducted in 2006)*, Circle of Legends (2013).* Rob’s experience and aggressive negotiating skills are key in this business. Any agent can list your house, but Rob’s knowledge and ability to negotiate constructively gives his clients peace of mind in dealing with the single most important investment in their lives.

Rob has an extensive marketing background that compliments his real estate career. He has achieved an impressive visual identity in the market place. Rob also prides himself on his ability to stay current with in the industry and to remain competitive in the marketplace. His hard work and dedication has awarded him the honour of consistently ranked in the Top 5 of nearly 2500 sales agents in the Hamilton-Burlington and Niagara Area since (2003).** Currently (2013)* Rob is ranked Number 1 in transactions sales ends in the HamiltonBurlington and Niagara Area.

“Each client is always treated with First Class Service.” *Based on RE/MAX Ontario Atlantic Canada annual commission criteria **Based on The Real Estate Association of Hamilton-Burlington total transactions January 1, 2003 – March 31, 2013.

L

ike door-to-door milk delivery, clackers and leisure suits, the 1970s introduced us to a mix of phenomenon both good and bad.

One such phenomena that’s nothing but pure gold is that of saying hello to new neighbours, an occurrence that likely reached its zenith in the ‘70s and has been in decline ever since.

Remember when neighbours went out of their way to welcome new families to the neighbourhood? A couple might drop by with a bottle of wine or a plant to greet their newest neighbour or mom might drop off a home-baked apple pie or gift basket.

While bringing a token gift to meet a new neighbour may still occur in some areas, it’s very much a rare occurrence today. Why is that? Are we too busy? Do we care less than we used to?

Whatever happened to the notion of being neighbourly?

“I grew up in an Italian-Canadian family in the Falls and I remember my mother making a Black Forest cake to bring to a new family that had moved in a few doors down,” says Rob Golfi, sales representative for Escarpment Realty Inc. “You don’t see that happening as much nowadays.”

While spending hours over a hot stove may be too much for some, let’s look at ways we can be neighbourly without being nosy: A day or two after the big move, pop by to introduce your family and answer any questions they may have.

Don’t overstay your welcome.

Consider hosting a casual dinner party or barbecue with old neighbours and the new ones.

Given modern concerns around allergies and special diets, if you’re giving consumables, it’s best to give baked goods, a basket of apples or other fruit or specialty coffees and teas.

If the new neighbours have pets or kids, introduce them to other neighbours with pets or kids. Better yet, offer to let their kids play with yours or watch TV at your house so that they can move in uninterrupted.

Don’t overstep your bounds. Be nice and not nosy. That’s a fine line to tread but know when their eyeballs bulge that you may have stepped over the line.

Always greet your new neighbour, even once they’re an old one. Wave, say hi or smile. And remember that even though you may not see eye to eye on most things, that doesn’t mean you shouldn’t be civil. Being neighbourly makes for a friendly, hospitable neighbourhood and those are the best in which to live.

Crossword Solution

‘LIKE’ us on Facebook The Rob Golfi Team Remax

www. GolfiTeam .com

November 18, 2013

The Golfi Team Real Estate Market Watch

Page 3

GET YOUR

HOME SOLD CALL NOW!

905-575-7700

W

1

e r ea

#

Freelton Fre reelt elton

Hamilton Burlington Niagara Burlington Burlington

Waterdown Waterdown

Dundas Dund das

Hamilton Hamilton

Ancaster Ancaster

Mount Mount Hope Hope

Stoney Stoney Creek Creek

Award 100%

Club

1999-2001*

Award Platinum

Club

2002*

Award

Chairman’s

Club

2003-2009*

Niagara Niag garaa on onthe th he St.St. Lake Lake Catharines Catharines

Grimsby Grimsby

Lincoln Lincoln

Binbrook Binbrook

West WestLincoln Lincoln

Thorold Thorolld

Pelham Pelham

Niagara Niag gara Falls Falls al

Welland Welland d

Wainfleet Wainfleet Wai

11 RE/MAX TEAM IN CANADA

#

905-945-0188

***

Port Por ortt Colborne Colborne

**

Fort FortErie Erie

40 RE/MAX TEAM WORLDWIDE

#

Award

Hall of Fame

Inducted 2003*

***

Award Lifetime

Achievement

Inducted 2006*

Award

Diamond

Club

2010-2012*

Award Circle

of Legends

2013*

* Based on RE/MAX Ontario Atlantic Canada annual commission criteria. **Information based on recorded total transactions, buying and selling ends, from the REALTORS® Association of Hamilton-Burlington Jan. -Aug. 2013. ***Source: RE/MAX® Canada and RE/MAX® International 2012.

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

John Hellicar

Sales Representative

Dan Golfi

Sales Representative

Outstanding Team. Exceptional Results Call Today 905-575-7700

Jeff Golfi

Sales Representative

Violet Lowe

Sales Representative

Page 4

The Golfi Team Real Estate Market Watch

November 18, 2013

Grimsby, Lincoln West Lincoln & Niagara

Rob Golfi*

WellAnd

$424,900

Grimsby

$335,000

smithville

$438,000

190 Creekside Drive

541 Winston Rd., Unit 47

55 Las Road

Uniquely designed open concept 3 bedroom bungalow home approximately 2000 sq.ft.! Upgrades include maple kitchen, granite, hardwood, porcelain tiles, stone gas fireplace, 9 ft. ceilings, upgraded lighting and plumbing fixtures, and a large covered patio.

IMMACULATE FREEHOLD 2 STOREY END UNIT – Built by Brant Haven homes, features 1576 sq.ft. of luxury living by the lake, 3 bedrooms with ensuite bath and walk in closet, gorgeous hardwood/ceramic & berber floors, bedroom level laundry, unspoiled basement with rough in bath.

Large 2750 sq.ft. 4 bedroom family home located on a quiet street in the prestigious Station Meadows. Features include hardwood flooring on both levels, large dining room, eat in kitchen, family room w/gas fireplace, unfinished basement, main floor laundry, formal living room, & much more.

$1697 per/mth P&i / O.A.C.

Grimsby

$279,900

$1338 per/mth P&i / O.A.C.

Grimsby

$269,900

$1749 per/mth P&i / O.A.C.

Grimsby

$885,000

47 Tomahawk Drive

303 Central Ave., Unit 3

143 Lake Street, Unit 3

GREAT NEIGHBOURHOOD – 3 bedroom, 2 storey, detached home close to QEW. Features spacious living/dining room, large kitchen with oak cabinets and lots of counter space. Unspoiled basement awaits your touch. Concrete drive, fenced yard, large deck with hot tub. Shingles 2007.

QUIET CONDO COMPLEX – Ready to move in this clean & bright bungalow, features cathedral ceilings, gas fireplace in living room, new carpeting on main level, freshly painted, new kitchen counter tops, professionally finished basement with full bedroom and bathroom, inside entry to garage, & quick access to QEW.

FABULOUS FIND – Exclusive listing to the Golfi Team.

Beautiful Waterfront lot sitting on 140 x 183 ft. lot on private culde-sac, build your dream home on the shores of lake Ontario, services include sewers, water and gas to lot line.

$1118 per/mth P&i / O.A.C.

$3535 per/mth P&i / O.A.C.

$1078 per/mth P&i / O.A.C.

GET YOUR

HOME beAmsville

$271,900

4086 Cassandra Dr. Unit #24 3 storey 1740 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 park, double car garage and minutes to all amenities. To be built. Taxes are “not set”.

SOLD CALL NOW!

905-945-0188

$1086 per/mth P&i / O.A.C.

Grimsby

$425,000

Grimsby

$344,900

37 Pleasant Grove Terrace Updated 3+1 bedroom family home, all 4 levels finished, large living room/dining room combination with large eat in kitchen.

Corner gas fireplace in family room, 4th bedroom with beautifully updated bathrooms, great rec room area perfect for playroom, office or media area. Beautifully decorated. $1378 per/mth P&i / O.A.C.

Grimsby

$259,900

West linCOln

$659,900

25 Red Haven

10 Wentworth Drive, Unit 4

5050 Canborough Rd

Outstanding & immaculate bungalow – features gorgeous hardwood floors, cathedral ceilings, master bedrm with ensuite & walk in closet, main floor laundry, finished rec-rm in lower level, double garage with concrete driveway.

DESIRABLE COMMUNITY - Extremely well taken care of 2 bedroom unit in fabulous condition, features large spacious kitchen, full ensuite bathroom, professionally finished basement with large rec-room, and yard with great patio area. Very desirable adult community and close to all amenities.

Waterfront bungalow with loft! 2.2 acre property with all the bells and whistles. Granite, Jatoba Cherry hardwd, massive interlocking patio with hot tub, open concept layout, main floor office. Stunning views of the Welland River complete this one of a kind offering.

$1697 per/mth P&i / O.A.C.

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

www.golfiteam.com

$2636 per/mth P&i / O.A.C.

November 18, 2013

The Golfi Team Real Estate Market Watch

Grimsby, Lincoln West Lincoln & Niagara

Rob Golfi*

West linCOln (st. Anns) $539,900

beAmsville

$69,900

Mobile home in immaculate condition w/private yard backing onto vineyards in Golden Horseshoe Park. 2 bedrm, separate dining rm, laminate flring throughout, vaulted ceilings, dble parking. Home is on Leased Land $491.34/mth, fee includes property taxes, water, snow removal & garbage collection. $279 per/mth P&i / O.A.C.

And Two Become One – Insights on Living Together

n order to keep things running smoothly we’d like to share with you our own insights and suggest a few conversations that are worth discussing before you take the plunge and sign your name on that infamous dotted line!

Moving in together is a big step in your relationship. The worst thing to do upon move in date is assume that everything will be smooth sailing. Naturally, with change, there are always a few things that take a little bit of time getting used to. That said, having the tough conversations before you share a key will help to lay the ground work for each of your expectations in the long run.

1) Who’s responsible for what: There are a lot of jobs around the house that one person would go nuts trying to do on their own. Figuring out who is going to be taking out the trash, cooking dinner, cleaning the washrooms and doing the laundry (and how often) is key to having a smooth day-to-day life! Once settled, the two of you should sit down and re-evaluate who is doing what to ensure everything is fair.

2) Working through the Finances: Be sure to talk to your partner about finances prior to moving in. You will also want to ask each other who will be responsible for the bills? We suggest that you have 3 piggy banks; one for each of your personal use/saving and one for the joint bills. Whoever is "assigned" to keeping an eye on the household finances should be transparent about the status on a regular basis. This will help eliminate the blame game.

3) Personal Time and Space: It is important to designate areas of the house that each of you can go to for your own personal time and space. We believe you when you say you are happily in love, however it is important to determine these areas as we all know that some time apart is healthy for everyone's relationship.

We can't make any promises, but we can assure you that you will certainly be better off having had these conversations beforehand. Now get chatting so that you can work together in creating a solid foundation for a life where you both live happily ever after.

GOLFI

$2156 per/mth P&i / O.A.C.

So you’ve made the decision to move in together – Congratulations!

Grimsby

4455 Timothy Lane

5476 Attema Crescent CUSTOM BUILT HOME –sitting on 1.11 acre lot in prestigious crt, family size kitchen with maple cabinets, granite counters & breakfast bar, gleaming hardwd flrs, showcase fireplace w/overhead space that can hold a 55” flat screen, 9 ft. ceilings, 40 pot lights, & water filtration system.

I

Page 5

$649,900

511 Main Street West 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. $2596 per/mth P&i / O.A.C.

Concrete & Drain Ltd.

Specializing in all types of concrete work: • Exposed, stamped & sandblast • Basement floor, garage floor, porch, steps, walkways & patios • Concrete removal & repairs • Installation of inside drains • Custom design for residential & commercial • Fully insured, fully licensed Call for a FREE estimate today

905-662-4022

www.golficoncreteandrain.com

Going on a Date?

Talk about Real Estate

I

s real estate really the new dating aphrodisiac? A California-based website thinks so. MillionaireMatch.com, which bills itself as matching up successful people, says it encourages clients to include real estate among their luxury items when filling out a profile. It seems your property ranks right up there with your Italian sports car, when trying to impress on a first date. Boats and jewellery can also be easily thrown into the mix.

The company refers to its strategy as digital peacocking. “For many successful

Call Today 905-945-0188

people, this is the life they deserve. And our members feel like they also deserve to share their luxury and success with others who appreciate the finer things in life.

Showing their peacock colors, that’s pretty darn natural in the world of dating,” says the company, in a release.

Posting at least one luxury item on a male profile results on average in 50% more interest from female members, the company says.

The dating site offered up this gem as sample from a recent profile. “Here’s a pic of my only child — my 2012 Ferrari.”

Page 6

The Golfi Team Real Estate Market Watch

November 18, 2013

Municipal Year-to-Date Statistics October 2012 vs October 2013 P R E S E N T E D

B Y

AREA

T H E

G O L F I

T E A M

YTD Comparison Oct 2013 / 2012

Based on sales data on all home sales from October 2012 vs October 2013, REALTORS® Association of Hamilton-Burlington

Listed YTD

Expired YTD

Sold YTD

Average Selling Price

Average Days on Market

Selling % of List Price

ANCASTER (DISTRICT 42)

2013 2012

843 861

125 159

544 481

$484,107 $462,871

52 48

97% 97%

BURLINGTON (DIST. 30 to 36 & 38)

2013 2012

3884 3856

354 311

2771 2789

$487,562 $454,617

33 31

98% 98%

DUNDAS (DISTRICT 41)

2013 2012

390 393

38 42

282 315

$387,257 $357,782

44 48

98% 98%

GLANBROOK (DISTRICT 53)

2013 2012

534 529

96 83

359 319

$344,781 $342,711

61 58

98% 98%

GRIMSBY (DISTRICT 54,55)

2013 2012

532 520

72 84

363 362

$353,213 $348,318

50 50

97% 98%

HAMILTON EAST (DIST. 23,24,27,28,29)

2013 2012

939 958

112 135

710 730

$208,157 $198,557

38 44

97% 97%

HAMILTON WEST (DIST. 10, 11, 12)

2013 2012

801 847

100 127

554 602

$323,012 $293,322

37 43

99% 97%

HAMILTON MTN (DIST. 15,16,17,18,25,26)

2013 2012

2084 2120

186 254

1597 1597

$282,716 $264,510

36 40

98% 98%

HAMILTON CTRL (DIST. 13,14,20,21,22)

2013 2012

1385 1325

230 267

983 919

$177,141 $161,444

41 44

97% 97%

BEAMSVILLE (DISTRICT 981)

2013 2012

233 179

32 41

154 127

$299,704 $281,506

43 50

98% 98%

WEST LINCOLN (DISTRICT 56, 982)

2013 2012

121 93

17 24

69 53

$379,482 $343,481

62 67

97% 96%

SMITHVILLE (DISTRICT 57)

2013 2012

96 98

13 27

67 64

$267,027 $261,834

55 60

97% 97%

STONEY CREEK (DISTRICT 50,51,52)

2013 2012

1173 1192

176 199

798 843

$325,825 $315,211

41 49

98% 98%

Organizing your Holiday Party

H

osting a holiday get-together can be stressful, but it doesn’t have to be. Wow your guests and have more fun at your next get-together by following this checklist.

2-3 weeks in advance: h Create your guest list and send out your invitations. Save time and postage by using email or an app such as Evite. h Plan your menu and create a shopping list. (Non-perishable items may be purchased now, if you have room to store them.) h Bring your decorations out of storage and decorate your home. If any lights or other items need to be replaced, buy them now. h Prepare dishes that can be frozen and reheated. h Create a playlist of your favourite Christmas music. h Hire a student who can help out with serving and clean-up in the kitchen so you’re not run off your feet when your company is there.

clean. h Stock up on beverages of all types. h Prepare your bathroom for guests by decorating with Christmas-themed candles, scented soaps, and hand towels. Make sure you have an ample supply of paper products, and remove any items you wouldn’t want your guests to see. h Remove unneeded items from the hall closet to make room for your guests’

coats. If you simply don’t have room, find an alternate spot, such as a bed (preferably one where your pets don't sleep). h Alert your neighbours to the fact that you’re having a party, so it may be a bit noisier than usual.

2-3 days in advance: h Buy the rest of the food and any other items you may have overlooked earlier.

h Re-arrange your furniture, if necessary, taking care to remove any valuable and/or fragile items. h Sweep or shovel the front porch and walkway.

1 day in advance: h Pick up fresh flowers and centerpieces and display them. h Set the tables. h Tidy up the house.

The day of your party: h Prepare food and reheat dishes that you cooked and froze ahead of time. h Set out appetizers (unless they need to be refrigerated until served). h Chill beverages. h Put on music and light candles. Even better, battery-operated candles provide a warm ambience and are a safer choice than an open flame, and they’re readily available. h Have fun with your guests!

There’s still time to get organized before the holidays, but don't wait too long!

1 week in advance: h Follow up with guests who haven't RSVP'd. h Clean your house thoroughly, or hire someone to get your home sparkling

www.golfiteam.com

November 18, 2013

The Golfi Team Real Estate Market Watch

Page 7

Meet John...

by Gianni Leonetti, Leonetti Consulting

J

ohn is a 78 year old widower who still lives in the home that he and his late wife raised their family in. He was concerned about the fees and delays associated with the probate process he had heard about and wanted to make things as simple as possible for his only son, the beneficiary of John’s estate.

John had his assets scattered amongst four different banks in a variety of GIC’s, Mutual Funds RRIF’s, Canada Savings Bonds and Savings accounts. Through our discussions John confirmed that it was becoming more of a burden to keep up with all the GIC maturity dates and statements from different banks.

He also envisioned that on his passing, it would be a lot of work for an executor or his son with all the different banks and his many accounts.

I introduced John to Segregated Funds primarily because of their estate planning benefits, which peaked his interest level. I explained that any savings or investment held in

Segregated Fund bypasses the entire probate process and the fees that go along with it. Segregated Funds also offer principle guarantees upon maturity as well as death, so his estate would be protected from the possibility of a market downturn. He asked why he had never heard about them before, so I explained that the banks don’t offer them and they are only offered through Canadian Life Insurance companies through a licensed advisor as myself.

We compared the estimated probate costs of leaving his assets at the bank. Or consolidating them into Segregated Funds for simplicity and the primarily the estate planning benefit.

ASSETS HELD AT BANK: House $400,000 GIC’s at Banks $300,000 Mutual Funds $250,000 Savings Bonds $50,000 Total subject to Probate fees $1,000,000

CRoSSWoRD PuzzlE (Solution on Page 2)

PROBATE FEES ON ASSETS 1st $50,000 @$5/$1000, $250.00 Remaining @ $15/$1000, $4,250.00 Lawyers Fee (5%), $50,000 Accountant’s Fee (2%), $20,000 Executor Fee (5%), $50,000 TOTAL PROBATE AND ESTATE FEE = $134,000 / A TOTAL OF $865,000 to John’s son ASSETS HELD IN SEGRAGATED FUNDS House $400,000 GIC’s at Life Insurance Company $300,000 Segregated Funds $300,000 Estate subject to probate fees $400,000 PROBATE FEES 1st $50,000 @ $5/$1000, $250.00 Remaining @ $15/$1000, $5250.00 Lawyer Fee (5%) $20,000 Accountant Fee (2%) $8,000 Executor Fee (5%) $0

2

6

7 6

5

3

9 4

1

The Solution 3 2 4

7

5

1

8

2

6

4

1

6

7

3

9

8

1 8 6 3 7 9 4 5 2

5 3 9 6 4 7 2 8 1

7 4 2 8 1 5 9 6 3

6 1 8 9 3 2 5 4 7

2 7 3 4 5 1 8 9 6

8 9 5 2 6 3 7 1 4

4 6 1 7 9 8 3 2 5

Call Today 905-575-7700

9

8

3

1

1 9 2

5

1 Out of practice (5) 2 Author of Silly Verse for Kids (5,8) 3 Raze to the ground (8) 4 Be contrite (6) 5 Chinese currency unit (4) 6 Transacted in secret — sozzled (5,3,5) 7 Protective headgear (4,3) 12 Six-yard box (4,4) 13 Armed helicopter (7) 15 Busy (6) 18 Dance from Cuba (5) 19 Hair style (4)

2

5 1

3 6

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1 Plant with pale red fruit (9,4) 8 Slide downhill, sportingly (3) 9 Santa's compatriot? (9) 10 Soft (8) 11 Masonry structure for spanning an opening (4) 13 Flashy (6) 14 Formal headgear (3,3) 16 Having no legal force (4) 17 Artist — pro cults (anag) (8) 20 Successful type (4-5) 21 Cadge (3) 22 Snapper with a tiny aperture (7,6)

4 2 1

2 9

8 9 7

7 Down

Contact Leonetti Consulting at 905-690-5052 or visit our website at www.leonetticonsulting.com.

SUDOKU 8

Across

TOTAL OF $966,500 to John’s son.

THAT’S A SAVINGS OF OVER $100,000…

By John Consolidating his assets and bypassing most of the probate process, he decided to name his son as the executor of his estate and therefore saved on that fee as well. As the named beneficiary John’s son can simply take the entire proceeds as inheritance!!

In closing, since John has rearranged his estate using Segregated Funds he has achieved peace of mind that his estate plan has been addressed and simplified for his son, the appointed executor. John is now confident that in his passing their will be funds available to his son, their will be very little of his hard earned estate that will be eroded by fees and that his son will have a compassionate advisor to guide him.

4

Fill in the grid above, so that each row of 9 squares, each column of nine and each section of nine (three squares by three) contains the numbers 1 through 9 in any order. There is only one solution for the puzzle and the numbers shown can NOT be changed.

Page 8

The Golfi Team Real Estate Market Watch

November 18, 2013

Hamilton, Stoney Creek, Ancaster, Dundas & Glanbrook

Rob Golfi*

hAmiltOn mtn

$259,900

hAmiltOn mtn

$249,900

hAmiltOn West

$349,900

10 Warren Avenue

84 Fernwood Crescent

100 Beddoe Drive, Unit 37

LOCATION, LOCATION, LOCATION!! Sought after area on Hamilton Mountain, walk to major shopping, schools & park.

Updated brick bungalow with large rooms, sunroom addition and walkout to private yard and deck. One bedroom would make a great dining room. Room in basement for a bedroom.

Maintained by the same family since 1955 & it shows! All major updates have been done including a new roof (‘13) w/35 yr shingles, high-efficiency furnace (‘12), central air (‘11), Beverly Hills windows in ‘07, an owned hot water heater, renovated main bath w/a Heritage bath Jacuzzi walk-in tub.

LOCATION ROCKS!!! Walk to Innovation park, McMaster University, and minutes to 403 HWY. Looks out onto Chedoke Golf Course. Bedroom and large rec-room w/fireplace in lower level. Loads of storage, freshly painted, granite counter in big eat in kitchen w/lots of cupboards.

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

stOney Creek

$319,900

$998 per/mth P&i / O.A.C.

hAmiltOn Ctr

$169,900

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

hAmiltOn eAst

$134,900

81 Irene Ave.

116 Chestnut Ave.

761 Burgess Ave.

Amazing space in this fabulous bungalow! Features beautiful original hardwood floors, mostly updated vinyl windows, professionally finished basement with in-law set up, oversized single car garage, shingles 5 years new, fenced yard, fantastic size lot, close to all amenities.

Will not last! 2 storey open concept 3 bedroom renovated home with 1.5 bathrooms including a main floor bedroom and powder room. Updated windows, roof, siding, double front drive, landscaping, decks, & partially finished basement. Nothing to do!

LOCATION, LOCATION!! One floor plan with lots of updates, plumbing and bathroom, electrical 100 amps on breakers, furnace 2009, interior waterproofing w/sump pump, shingles 10 years, kitchen cabinets and counters. Close to Red hill and QEW, walk to beach and Globe park.

$679 per/mth P&i / O.A.C.

$1278 per/mth P&i / O.A.C.

hAmiltOn Ctr

$169,900

stOney Creek

$324,900

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

stOney Creek

$274,900

62 Frederick Ave.

134 Benziger Lane

366 Celtic Dr.

Beautiful 2 bedroom 1.5 bath bungalow with everything done!

Open concept kitchen with breakfast bar, new flooring throughout, newer furnace, central air and windows, large family room for extra living space. Basement has high ceilings with an extra bedroom, bath and rec room. Quality workmanship! Must be seen!

Freehold end unit townhouse in Winona, open concept main floor with 9ft ceilings. Brick & stone exterior, dbl garage w/inside entry. Master bdrm has generous walk-in closet and 4pc ensuite bathroom, laundry room is located on bdrm level for convenient access. Basement is unspoiled and configured to maximize space.

PRIME STONEY CREEK LOCATION!! Beautiful 2 storey home features hardwood flooring, new carpet on stairs and bedrooms, sunken great room with fireplace and big windows overlooking private yard, spacious bedrooms, updated main bath and updated double concrete drive. Close to Mohawk College.

$679 per/mth P&i / O.A.C.

hAmiltOn eAst

$419,900

295 Nashville Circle STUNNING FULLY FINISHED TOP TO BOTTOM!!!! Move in and enjoy the rec-room with gorgeous oak wet bar. Loft outside bedroom area and office/den on second floor. Hardwood floors on main level with gas fireplace, walkout to generous backyard w/patio. Great location with easy HWY access. $1677 per/mth P&i / O.A.C.

$1298 per/mth P&i / O.A.C.

hAmiltOn Ctr

$139,900

$1098 per/mth P&i / O.A.C.

hAmiltOn eAst

$127,900

213 Rebecca Street

95 Hope Avenue

Cute and Cozy Doll House! – This 2 bedrm bungalow located near the downtown core, features new windows 2011, new furnace 2011, shingles 2000, private fenced back yard, located near busses and shopping.

Cute one floor plan, and same owners for 24 years!! Front concrete drive, nice fenced in backyard w/sliding doors from kitchen, new windows and doors. Great location, close to new Centre Mall and parks.

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

www.golfiteam.com

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

November 18, 2013

The Golfi Team Real Estate Market Watch

Page 9

Why two Deposits on a Home Purchase offers Protection

As the GTA housing market remains strong, some buyers are losing their deposits when they have a change of heart about the purchase after seeing the home inspection.

Here’s what is happening: As the average price of a house climbs, many offers are accompanied by substantial deposits, in some cases $25,000 or more. The offer is conditional

on the buyer being satisfied with the inspection and in some cases, the buyer is unhappy enough to walk away and ask for their money back. The sellers are upset, because if other buyers hear about what happened, they will wonder what is wrong with the house. The seller can’t answer because they didn’t see the inspection report.

In general, the courts have indicated that buyers must act honestly, reasonably and in good faith. Unfortunately this will have to be proven in court, which means lawyers, legal fees and the potential for the deposit to be withheld for up to two years.

Sellers are not entitled to a copy of the inspection report unless the parties agreed to it. In my opinion, sellers should always include a contract clause that says if the buyer wants to negotiate a reduction, or cancel the deal because of problems in the inspection report, then the buyer must give the seller a copy of the report. This will give the seller the oppor-

How to Score Great Credit

W

ith household debt climbing to all-time highs, what better time than now to tackle the topic of credit scores and ratings and how you can improve yours.

You may want to buy a house right now, but what does your credit score look like? Is it good? Do you know about your rating? Have you heard of credit scores? It’s important to consider these things a year before you begin looking for a house so you have time to improve your score if need be.

You may be wondering why this is important. If you plan on applying for a mortgage it is because lenders, and often insurers, place considerable weight on a client’s credit score, which is essentially a snapshot of a client’s current and past credit.

Credit rating agencies look at your income, your debt repayment history, your total approved credit limits, your credit usage levels and more and that information is crunched into a scoring system that assigns a number of between 300 and 900. This is known as your FICO score.

The higher you are on the scale, the less risky you are to a lender. For example, a number of 750 to 799 are shared by 27 per cent of the population.

Statistics show that only two per cent of borrowers in this category will default on a loan or go bankrupt in the next two years. So that means that anyone with this score is very likely to get credit as they’re a low risk.

These scores, which are called beacon scores, may also be used to determine the interest rate you will pay on the loan for which you’re applying. Credit rating agencies like Equifax Canada and TransUnion Canada are typically used in Canada to determine scores.

Remember that your credit report or rating is not the same as your credit score, though they’re closely linked.

You can get your report or rating from Equifax or TransUnion for free by going to their websites.

Mortgage and credit experts all recommend getting a sneak peek at your credit rating yearly or every two years.

The main reasons for this are to ensure that the information the credit bureau has is accurate and to make sure you’re not the victim of fraud.

Factors affecting a credit score are paying your bills on time. This one weighs fairly heavily.

Don’t be afraid to use your credit as lenders want to see a history of repayment, but keep your credit card balance well below your account limit. If that’s not doable either spend less or get your limit raised.

Consumers also need to be wary of heavy-duty credit seeking. Do not apply for every credit card that comes your way as this will bode poorly on your rating. Most credit holders are unaware that your credit is negatively affected every time a company checks your credit. Your score may decrease by a couple points every time you authorize an inquiry.

A series of small loans can hurt your score because it looks like your cobbling together any credit you can get your hands on and lenders will worry that you could end up in a position where you have borrowed more than you can pay back. The best way to avoid this is to consolidate your debt into one large loan.

Negative credit issues can stay on your record anywhere from three to six years depending on the province in which you live.

If you have poor credit, don’t despair. Resolve to improve your rating by paying down balances and paying your bills on time. People with exceptionally poor credit need to re-establish their credit by getting a secured credit card. These cards are similar to gift cards as you pay the credit company upfront and then make purchases on it until the balance depletes.

tunity to check the problems for themselves and be able to explain it to any future buyer.

If the buyer does not conduct the home inspection at all, or perhaps brings in an unqualified person to conduct the inspection, then I believe that these might be examples of not acting reasonably and in good faith. It would then be difficult for a buyer to try and cancel the agreement and argue that they acted in good faith. That’s why it is so important that buyers always use qualified home inspectors.

In a seller’s market, many buyers decide not to include a home inspection condition so they can provide a “clean offer” to the seller. This usually happens when there is a bidding war.

But there are other ways to protect buyers in these circumstances. For example, you can arrange for a home inspection before you bring your offer. Most sellers will be agreeable to this. You are only asking for trouble if you don’t conduct a

home inspection before you decide to buy.

In addition, if a buyer is not in a bidding war, consider two deposits, a small one when the deal is accepted, and a larger once you are satisfied with all of your conditions. That way, if you are not satisfied, there is not much of a deposit that will be worth fighting over.

It is very important for buyers to understand all your legal rights and obligations relating to conditions before you bring any offer to buy a home.

Written by Mark Weisleder, a Toronto real estate lawyer.

For local representation, please contact Philip Anthony Kuca (P.C.) B.A. (Hons.), LL.B., Centennial Law Group in Stoney Creek, at pkuca@cenlawgroup.com or 905-526-0736.

The Top 10 Things First-time Home Buyers should Know before they Start Looking 1. Are you financially stable?

Have you been working in the same industry for one year? Have you been self-employed for more than two years? Do you have some savings for your down payment?

2. Are you ready to shoulder the costs of home ownership?

Remember that in addition to mortgage payments there are repairs, maintenance and unexpected costs.

Do you have the time and money to devote to home maintenance? What if your furnace dies? How much is a typical water and sewer bill?

3. Determine how much you can afford to pay for a house. Add your debt payments to your household expenses. The Canadian Mortgage and Housing Corporation (CMHC) recommend your monthly housing costs should not exceed 32 per cent of your gross income.

4. Get a copy of your credit report through Equifax Canada Inc. or TransUnion. Before getting a mortgage, lenders will want to see how well you’ve paid past debts and bills. If you have no credit rating, start building one. Apply for a credit card with a good interest rate, make small purchases and pay the bill in full when it comes in.

5. Get pre-approved for a mortgage before shopping for one.

6. It’s a good idea to research mortgage terminology prior to meeting with a mortgage specialist so you understand commonly used words and phrases such as variable rates and

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amortization. Ask friends or family for help or go online.

7. Get a realtor based on a referral from a trusted friend or family member. The other option is to select a realtor who specializes in a certain area or type of real estate such as first-time home buyers or condos.

If that’s not doable, take notice of the for sale signs in the neighbourhood you want to live. Whose name continues to pop up again and again?

8. Figure out where you want to live. Do you want to be near Go Transit, the QEW, schools or are you looking to live near restaurants and nightlife?

9. What kind of a house are you looking for? Know the difference between a stacked townhouse, a semi-detached house and a duplex.

Bone up on the language of buying.

10. Speak to a lawyer. Know your closing costs. Get a quote from two or three lawyers on what fee they charge and what they bill for disbursements. Closing costs can also include land transfer tax, mortgage insurance and a home inspection.

Allow 1.5 to 2 per cent of the purchase price for closing costs.

Rob Golfi is a sales representative for Remax Escarpment Realty Inc. He leads the Golfi team, an award-winning 10-member group of sales representatives who work collaboratively to bring clients exceptional results.

Page 10

The Golfi Team Real Estate Market Watch

November 18, 2013

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November 18, 2013

The Golfi Team Real Estate Market Watch

Page 11

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