Oct 1, 2014 Issue 103 by The Real Estate Market Watch

WHAT’S INSIDE: October is Breast Cancer Wareness Month PAGE 9

Waterfront | PAGE 3 HoMeS for SaLe | PAGE 5 Grimsby, Lincoln, West Lincoln & niagara

rentaLS | PAGE 8 HoMeS for SaLe | PAGE 9 Hamilton, Stoney Creek, ancaster, Dundas & Glanbrook

October 1, 2014 - Vol 69a

No fear of housing bubble: CMHC

Prices of some Canadian homes are certainly too high, but there is no immediate catastrophe looming for the country’s housing market, the head of Canada Mortgage and Housing Corp. suggested in a speech Friday. Evan Siddall, who has been the CEO of CMHC since January, was speaking at a conference in Montreal held by the Global Risk Institute.Here are the key points that Canadian homeowners and financial players should take away from his remarks: 1. CMHC isn’t “overly” worried about a housing bubble right now – but that comes with two caveats. CMHC has a tool, which it calls the Housing Price Analysis and Assessment framework, that it uses to gauge the housing market. The framework takes into account (a) overheating of demand in the market, (b) acceleration in prices, (c) overvaluation in prices, and (d) overbuilding. (CMHC intends to make the framework publicly available at some point.) At the moment, the framework shows that “despite some overvaluation, there

are no immediate problematic housing market conditions at the national level,” Mr. Siddall said. “Our educated opinion is that growth in house prices in Canada will moderate,” he added. One caveat, however, is that CMHC’s assessment is based on what it knows, and Mr. Siddall is the first to admit that some important pieces of information are missing. (For more on this topic, see “CMHC looks to fill research gaps on housing market” or “Missing Numbers.”) To deal with that problem, CMHC has created a “data gaps” working group. The second caveat, Mr. Siddall pointed out, is that the framework is “based on the assumption that the world of the future will unfold like the world of the past … (and it) cannot capture market conditions that may unfold differently.” 2. CMHC is still looking at having banks shoulder more of the risk from mortgage defaults. Mr. Siddall reiterated his views on this subject. He told the Globe and Mail’s editorial board in June that a deductible for mortgage insurance is a

“pretty good idea.” The mortgage insurance that CMHC and its two competitors sell repays banks when consumers default on their mortgages. At the moment it makes the banks whole. The OECD has called for changes to the system to ensure that lenders take on more of the risk. In other countries with mortgage insurance, the product tends to only cover 10 to 30 per cent of the losses. In his speech, Mr. Siddall said that CMHC is evaluating “risk-sharing with lenders to further confront moral hazard” and is advising the government about its thoughts.

recent changes, in July 2012, included cutting the maximum amortization on insured mortgages to 25 years from 30.) However, Mr. Siddall said further moves would only be necessary, in his opinion, if CMHC is wrong about house prices. (See #1 above: He expects prices to moderate, not rise). 4. CMHC may start to publish the results of its stress tests. Financial institutions go through numerous stress tests, often at the request of regulators, to see what would happen to their portfolios in various hypothetical situations.

3. CMHC is considering what it could do to take some steam out of the market if house price growth remains strong or picks up.

“We are actively considering the merits of publishing our stress testing results to gain insights from others and better inform Canadians about CMHC,” Mr. Siddall said. “For now, I am pleased to report that our stress testing confirms that CMHC would survive a 2008-2009 U.S.-type housing and financial crisis, if that were to occur in Canada. Further, our analysis suggests that we have sufficient capital to withstand a severe and prolonged economic recession.”

CMHC would likely advise Ottawa about actions it believes would be wise, rather than taking action itself, and the ultimate decision would be up to the Finance Minister. Any moves could be similar to the mortgage insurance rule changes the government has imposed four times since 2008 to tighten the market. (The most

HOME EVALUATION NO COST • NO OBLIGATION

905-575-7700 • 905-945-0188

Rob Golfi Sales Representative

Page 2

The Golfi TeaM Real Estate Market Watch

October 1, 2014

about Rob Golfi

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 Hamilton-Burlington and niagara area.

where the future takes shape

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

If you are buying or selling a home,

contact Rob Golfi today.

Rob Golfi SaleS RepReSe ntative

905-575-7700

visit www.Golfiteam.com

“Each client is always treated with First Class Service.”

Check out our Blog for the latest information in Real estate

*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.

We SELL more... because we DO more! THE ULTIMATE SELLING TEAM SHarOn StaFFOrD

HanS MarCELISSEn

WEnDY MUrraYnICHOLSOn

MIkE MCnEIL

Dan GOLFI

JEFF GOLFI

CHrIStInE SEraFInI

ErIC PInI, B.a.

LaUra BIELak

JEnnIFEr DraHO

PEnnY CIarDELLI

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ROB GOLFI SaleS RepReSentative

www.GolfiTeam.com | 905.575.7700 | 1.800.288.9184 www. GolfiTeam .com

October 1, 2014

The Golfi TeaM Real Estate Market Watch

Page 3

Waterfront WATERFRONT

WATERFRONT

Docking Rights Available!

Fort erIe

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3723NiagaraRiverParkway

111thStreet

CUSTOM BUILT HOME facing the niagara River, four large bedrooms, plus finished attic with roughed in bath for a fifth bedroom. Solid oak doors and trim throughout. Unspoiled basement with walkout. new C/A, Furnace ‘01. Roof ‘05. Does not disappoint!

BREATHTAkInG vIEWS on 2 acres! 4+1 bdrm home features Oak hardwds, main flr master suite, irrigation sprinkler system, aerobic septic bed, backup gas generator, furnace 6yrs, new, roof 3yrs, gardeners greenhouse & a nicely landscaped yard! Docking rights available!

BIGGER THAn IT LOOkS! 2200 sq ft completely rebuilt Waterfront retreat w/180-degree views of Lake feat. 3 bedrms & 2 baths in a . Large master suite w/ensuite, two main floor bedrms, 3pc powder rm, two-level living area, spacious dining rm, & over sized chefs gourmet kitch. Turn the key & leave w/this zero maintenance freehold property!

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$3,395 per/mth P&I / o.A.C.

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Stoney Creek

$774,900

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63EdgewaterDrive STUnnInG vIEW OF THE LAkE! This beautiful Waterfront 4+1 bedroom home makes you feel like you are away from home! Main floor offers open concept with sliding doors to the patio. Have your morning coffee on the patio and sit back and enjoy the sound of the water! 2 master bedrooms with ensuites.

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188NorthServiceRoad

143LakeStreet FABULOUS FInD – Exclusive listing to the Golfi Team. Beautiful Waterfront lot sitting on 140 x 183 ft. lot on private cul-de-sac, build your dream home on the shores of lake Ontario, services include sewers, water and gas to lot line.

PRESTIGIOUS BOOkS LAnDInG Offers private Lakeside Living. 3 BR, floor to ceiling windows w/fabulous unobstructed lake views, right on the water’s edge & beach, towering trees, manicured lawns & private promenade to enjoy the sunsets & views of Toronto skyline. Only 5 minutes to QEW.

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BREAST CANCER IN CANADA • Breast cancer is a complex disease with no known single cause. • in 2014, it is estimated that 24,400 women and 210 men in Canada will be diagnosed with breast cancer, and that 5,000 women and 60 men will die from the disease. • 1/3 of breast cancers can be prevented. • if a women lives to age 90 she has a 1 in 9 chance of developing breast cancer in her lifetime. The current 5 year survival rate is 87%.

The Canadian Breast Cancer Foundation is the leading national volunteer-based organization dedicated to a vision of cre-

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OnE ACRE GATED LAkEFROnT ESTATE - Features 4 bedrm home, w/fully-finished basement, 180 ft of armour rock shoreline protection. Everything has been updated from top to bottom in this magnificent show piece. Separate building can be a boat house or studio. view pictures on line.

October is Breast Cancer Awareness Month

CaNaDiaN BReaST CaNCeR foUNDaTioN

TREnDY BEACH BLvD – 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

375BookRoad,Unit12

$3,094 per/mth P&I / o.A.C.

The Canadian Breast Cancer Foundation allocates funds to high-quality research and community grants across the country. The Foundation funds initiatives that support and advocate for: relevant and innovative research; meaningful education and awareness programs; early diagnosis and effective treatment; and a positive quality of life for those living with breast cancer. There are many ways to support the cause – by participating in the Canadian Breast Cancer Foundation CIBC Run for the Cure, volunteering for the Foundation, making a general or annual donation, or by purchasing products that support the Foundation. This October, you can make a difference in the lives of those affected by breast cancer.

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grImSby

$949,900

1087BeachBoulevard

WATERFRONT

hAmIlton eASt

ating a future without breast cancer. The Foundation works collaboratively to fund, support, and advocate for: relevant and innovative breast cancer research; meaningful education and awareness programs; early diagnosis and effective treatment; and a positive quality of life for those living with breast cancer. Since its inception, the Foundation has invested over $170 million towards innovative research, education and awareness programs.

for more information: Canadian Breast Cancer Foundation visit www.cbcf.org call 416-596-6773 x260 Learn more about breast cancer and how to become breast aware by visiting www.cbcf.org/breastcancer. To Donate: www.cbcf.org/central/GetInvolved/Donat e/Pages/default.aspx

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VOTE Luana

YachETTi

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27, 2014

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Ward 10 and a Greater hamilton!

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Page 4

The Golfi TeaM Real Estate Market Watch

How to Sell a Home That Didn’t Sell

MUST SELL • • • •

Estate Sales Bank Foreclosures Company-Owned Properties Distress Sales

Free List with Pictures www.HamiltonDistressSales.com

HAMILTOn/nIAGARA – If your home has just come off the market and hasn’t sold, don’t be discouraged. The reason your home did not sell may have nothing to do with your home or the market. In reality, your home may have been one of the most desirable properties for sale. So Why Didn’t Your Home Sell? Last year almost half of the homes listed for sale never sold at all, and many sellers found that there was a tremendous amount a homeowner needed to be educated on to sell their home for top dollar in the shortest time period. Don’t risk making the wrong choices and losing both time and money on your investment. Before you hire a realtor, know the right questions to ask to save you time and money. Industry experts have prepared a free special report called “How to Sell a House that Didn’t Sell” which educates you on the issues involved. Please visit www.CouldntSell.com

Fixer-upper HOMeS FOr SALe These homes need work. Free list with pictures. www.HamiltonFixerUpper.com

11 Critical Home Inspection Traps To Be Aware Before Listing Your Home For Sale HAMILTOn - According to industry experts, there are over 33 physical problems that will come under scrutiny during a home inspection when your home is for sale. A new report has been prepared which identifies the eleven most common of these problems, and what you should know about them before you list your home for sale.

Whether you own an old home or a brand new one, there are a number of things that can fall short of requirements during a home inspection. If not dealt with, any of these 11 items could cost you dearly in terms of repair. That’s why it’s critical that you read this report before you list your home. If you wait until the building inspector flags these issues for you,

you will almost certainly experience costly delays in the close of your home sale or, worse, turn prospective buyers away altogether. In most cases, you can make a reasonable preinspection yourself if you know what you’re looking for, and knowing what you’re looking for can help you prevent little problems from growing into costly and

unmanageable ones. To help home sellers deal with this issue before their homes are listed, a free report entitled “11 Things You need to know to Pass Your Home Inspection” has been compiled which explains the issues involved. To order your free copy of this report visit www. HamiltonInspectionPitfalls.com

October 1, 2014

27 Quick & Easy Fix Ups to Sell Your Home Fast and for Top Dollar HAMILTOn/nIAGARA – Because your home may well be your largest asset, selling it is probably one of the most important decisions you will make in your life. And once you have made that decision, you’ll want to sell your home for the highest price in the shortest time possible without compromising your sanity. Before you place your home on the market, here’s a way to help you to be as prepared as possible. To assist homesellers, a new industry report has just been released called “27 valuable Tips That You Should know to Get Your Home Sold Fast and for Top Dollar.” It tackles the important issues you need to know to make your home competitive in today’s tough, aggressive marketplace. Through these 27 tips, you will discover how to protect and capitalize on your most important investment, reduce stress, be in control of your situation, and make the most profit possible. In this report you’ll discover how to avoid financial disappointment or worse, a financial disaster when selling your home. Using a common-sense approach, you get the straight facts about what can make or break the sale of your home. You owe it to yourself to learn how these important tips will give you the competitive edge to get your home sold fast and for the most amount of money. How to order your free copy of this report, check us out online at

www.hamilton27tips.com

Homes For Sale Bungalows & Raised Ranches Two Storeys • Semis & Town Homes HAMILTON EAST

HAMILTON MTN

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October 1, 2014

The Golfi TeaM Real Estate Market Watch

Grimsby, Lincoln West Lincoln & Niagara

Rob Golfi*

VAcANT cOmmERciAL LOT

beAmSvIlle

Page 5

$184,900

beAmSvIlle

$99,900

25.5 AcREs

grImSby

$1,074,900

SmIthvIlle

$379,700

4553OntarioStreet

4946MapleAvenue

191KempRoadEast

7WadeRoad

2 BEDRM BUnGALOW located within walking distance to downtown, shopping, great schools, & easy highway access. Amazing investment opportunity in the heart of Beamsville w/some updates including roof ‘06, furnace, hot water tank replaced approx. 5 yrs ago, garage roof ‘07

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

3552 SQ. FT. BUnGALOW on 25.5 acre property. 3+1 bedroom home features hardwood & ceramics, crown moulding, coffered ceiling, solid cherry custom kitchen, granite, marble, 3 car garage w/entrance to mudroom, main floor laundry.

OvERSIZED LOT that can possibly be severed for a corner building lot or build a garage. Buyer to verify zoning regulations. 4 level side split in a prime location on quiet dead end street. 3+2 bedrooms, in-ground pool, walk up from basement, large double garage & driveway. Updated kitchen, windows, hardwood floors, and roof. .

$739 per/mth P&I / o.A.C.

$399 per/mth P&I / o.A.C.

5 AcREs

$000 per/mth P&I / o.A.C.

2.8 AcREs

5.5 AcREs

PelhAm

$699,900

grImSby

$479,900

571PothStreet

180MainStreetWest

5 ACRE PROPERTY w/ large 4 bedrm home & barn w/ stalls. Home feat liv/rm, dinrm, eat-in maple kitchen, main flr master suite & fin bsemnt. Outdoor feat large pond, barn w/ 5 stalls, run in shed, 2 paddocks & exercise ring

2 STOREY WITH In-LAW. 4+2 bedrm, 3 full baths, 2 half baths, new kitchen, furnace & a/c, roof & back deck. Main floor home office, den & separate dining rm. In-law has separate entrance & driveway.

$2,795 per/mth P&I / o.A.C.

beAmSvIlle

$989,900

P/L#23DurhamRoad ZOnED LIGHT InDUSTRIAL AnD COMMERCIAL with 5.5 acres and 602 feet of frontage on Durham Rd.

$3,954 per/mth P&I / o.A.C.

$1,917 per/mth P&I / o.A.C.

BUiLDiNG LOT

Get your home sold Fast!

AcademyStreet RM2 ZOnInG – ¾ acre land site centrally located 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.

905.945.0188

$1,597 per/mth P&I / o.A.C.

WATERFRONT

WAInFleet

$389,900

40830ForksRoad 2.8 ACRES OF COUnTRY LIvInG with pond. Updated 2 storey country charmer. This home has it all, 4 bedroom, 2 full baths, large eat-in kitchen, main floor office, laundry and mudroom. Outside features a lovely wrap-around porch and 4 car garage.

$1,557 per/mth P&I / o.A.C.

FrEE home Evaluation

$399,900

$1,516 per/mth P&I / o.A.C.

beAmSvIlle

$159,900

2MeadowoodLane BUILDInG LOT RARE FInD - Fantastic opportunity to build your dream home on this 50.00 X 108.00 ft lot!, Sewer and water to lot line. Buyer pays town, regional charges and park dedication plus building permit, 4 lots available. Subject to severance in progress. HST may be applicable.

$639 per/mth P&I / o.A.C.

WATERFRONT

Docking Rights Available!

grImSby

$955,000

Fort erIe

$799,900

beAmSvIlle

$209,900

grImSby

$899,900

143LakeStreet

3723NiagaraRiverParkway

4340CentralAvenue

111thStreet

FABULOUS FInD – Exclusive listing to the Golfi Team. Beautiful Waterfront lot sitting on 140 x 183 ft. lot on private cul-de-sac, build your dream home on the shores of lake Ontario, services include sewers, water and gas to lot line.

BREATHTAkInG vIEWS On 2 ACRES! 4+1 BR home features Oak hardwds, main flr master suite, irrigation sprinkler system, aerobic septic bed, backup gas generator, furnace 6yrs, roof 3yrs, gardeners greenhouse & a nicely landscaped yard! Docking rights available!

WHAT A DOLL HOUSE! Clean & beautifully kept home in fantastic condition features shingles 6 years new, all thermal vinyl windows, gorgeous hardwd flrs under all broadlm, long concrete drive w/fenced yard & personal greenhouse backing onto church park, & close to all amenities. Shows like a dream!

$3,194 per/mth P&I / o.A.C.

$3,814 per/mth P&I / o.A.C.

37 AcREs

WATERFRONT

Fort erIe

$870 per/mth P&I / o.A.C.

$849,900

St. CAthArIneS

$252,900

1645NiagaraParkway

15LakesideDrive,Unit39

3 BEDROOM TOWnHOUSe with amazing views of the lake! Resort style living. Large eat in kitchen, living room with corner gas fireplace, updated flooring, freshly painted. In-ground pool, large courtyard, private deck off patio doors, lower level finished.

$3,395 per/mth P&I / o.A.C.

$1,010 per/mth P&I / o.A.C.

$3,591 per/mth P&I / o.A.C.

WATERFRONT

grImSby

$959,900

342KempRoadWest CUSTOM BUILT home on 37 acres. Features nanny's quarters or 2 bedroom in-law suite, 2 fireplaces, gourmet kitchen, ceramics, vaulted ceilings, in-ground pool, 3 car gar. Barn w/13 stalls, 4 paddocks & a 60x140 arena. Minutes from town!

$3,834 per/mth P&I / o.A.C.

Call www.golfiteam.com Today 905-945-0188

grImSby

$1,669,900

188NorthServiceRoad OnE ACRE GATED LAkEFROnT ESTATE - Features 4 bedrm home, w/fully-finished basement, 180 ft of armour rock shoreline protection. Everything has been updated from top to bottom in this magnificent show piece. Separate building can be a boat house or studio. view pictures on line.

$6,665 per/mth P&I / o.A.C.

Page 6

The Golfi TeaM Real Estate Market Watch

4 Quick Weekend Updates fall has arrived and, with fewer weekends spent on the beach or at the cottage, it’s the perfect time to tackle some projects around the house. Here are some of my favourite easy home updates you can take on now.

October 1, 2014

Bridge Financing can Ease Closing Day Stress

1 lighten up If you’re like me, you spend a lot of time in your kitchen. valance lighting is a quick fix for dim kitchens, allowing you to highlight your workspace and create ambience at the same time. Just choose between fluorescent, halogen and incandescent lighting and whether you want hard-wired or plugin. Fluorescent strip lights that plug into an outlet are the easiest and least expensive option, but halogen lights mimic natural daylight best. Hardwiring to a switch will require the assistance of an electrician but can be done quickly without cutting into the walls significantly. 2 Make an entrance In my experience, the entryway is one of the most neglected areas in people’s homes. The good news is that updating it can be an easy weekend makeover. new outdoor light fixtures and a fresh coat of paint on your front door (I like Para Paints Ultra Low Temp Exterior Semi-Gloss) can go a long way. If your foyer isn’t as bright as you would like it to be, try adding a window to your front door – it will make your whole entrance feel bigger. not prepared to take on a big project? Consider replacing your door altogether – it’s a fast and inexpensive way to improve your entryway and enhance your curb appeal. 3 Go long Unless your bathroom is tiny, there’s no excuse for not having a nice toilet with an elongated bowl and quiet-close lid. For a few hundred bucks, you can “go” in style. Look for a low-flow model to keep water usage down as well. Just make sure to buy a standard, elongated toilet, as opposed to a European model, to ensure easy installation. 4 apply yourself Ever wonder about the easiest way to give a room a high-end look with architectural interest for the least amount of money? The answer is applied mouldings. Whether it’s a chair rail in your dining room or picture boxes in your living room, the colour and style possibilities are endless. And applied mouldings aren’t just reserved for walls; You can also use them to up the ante on standard kitchen cabinetry or create a focal point on high ceilings.

Bridge financing could have saved the day last month when a series of disasters on closing day caused three related real estate deals to fall apart. When a bank pulled the financing from one buyer at the last minute, it caused all the deals to fall apart because each one was contingent on the previous seller getting the money to close their own sale. This is what real estate lawyers refer to as a train wreck. If bridge financing had been used, it is likely that this could have all been avoided. In a typical bridge situation, the buyer closes their purchase a few days before their sale. They go to their bank and ask for a loan, to pay for the entire purchase, with the understanding they will repay the loan as soon as their sale closes. The interest is usually prime plus 3 or 4 per cent per day. By closing a few days early, the interest cost is typically $100 to $200. One of the benefits of closing a few days early is that you can slowly move into your new home. I have heard plenty of stories where buyers are moving out and moving in on the same day and while they are packed up at 1 p.m., they cannot get into the new home until after 6 p.m., resulting in additional moving costs, since you typically pay by the hour. In my client’s situation, we were fortunate to be able to extend their purchase agreement because our seller did not need the money on closing to buy another property. Still, the sellers could have cancelled the contract and sued for the deposit and any losses that they may have incurred in any resale of the home. In order to extend the closing, my clients had to pay interest on the money owed to the seller during the period of the extension. They also had to pay extra moving and storage costs because their furniture had already been picked up from their home when they found out that the deals could not close. You might wonder how a lender can cancel a loan at the last minute. You would be surprised how often this happens. When a buyer is pre-approved for financing, or even given a commitment from a lender on a specific purchase, it is still conditional on the buyer satisfying all of the lender’s conditions before the closing. This could include providing proof of income, employment letters, as well as proof that they have the entire down payment from their own resources, and are not receiving it from third parties. If there is any suspicion on the part of the lender that their conditions have not been properly satisfied, they have the right to cancel the loan, even at the last minute. If you are considering selling and buying on the same day, first ask your seller whether they need the money to buy another property. Ask the same question of the person buying your home. If the answer to either question is yes, consider closing your purchase a few days earlier and obtaining bridge financing so that you do not become involved in your own train wreck. Buying and selling on the same day is normally a stressful experience even if it all works out, but by taking extra precaution, you can avoid unwelcome surprises later, provided that everyone is properly prepared in advance. Mark Weisleder is a Toronto real estate lawyer. Contact him at mark@markweisleder.com .

CHECK OUT THE TOP REAL ESTATE SITE FOR HAMILTON HALTON NIAGARA!

www. GolfiTeam .com Call Today 905-575-7700

October 1, 2014

The Golfi TeaM Real Estate Market Watch

Page 7

Tips to Stress-Testing Your Mortgage With mortgage rates at an alltime low, locking into a mortgage is a tempting commitment. However, these low rates have experts cautioning homeowners: can you still afford your mortgage if rates were to rise? Stress-testing your mortgage is a smart way for home buyers to prepare for the future in the event that mortgage rates go up. Before locking in to a mortgage, home owners should calculate their mortgage payments at a higher rate to see how much their mortgage may cost in the event rates were to rise in the future. “When homeowners stress test their mortgage at different rates, they have a better understanding of what they can and can’t afford,” says Wade Stayzer, vice President, Retail and Investment Services at Meridian, Ontario’s largest credit union. “It’s a simple and quick test that can save homeowners from future stress and worry.” Meridian offers the following tips to help homeowners stress test their mortgage: Test at 1 to 2 per cent higher than your current rate: Financial advisors recommend stress testing your mortgage at 1 to 2 per cent higher than your current rate. Many financial institutions offer online mortgage calculators that are designed to

Mortgage specialists are well versed in the financial implications associated with home ownership and can help you stresstest your mortgage but also help find ways to pay down your mortgage faster.

help calculate your mortgage at different rates. Not just for first-time homeowners: Stress-testing your mortgage isn’t just limited to first-time homebuyers. Current homeowners who are looking to renew their mortgages can benefit from this exercise too. “While you can’t pre-

Crossword puzzle 2

the financial implications associated with home ownership and can help you stress-test your mortgage but also help find ways to pay down your mortgage faster. To learn more about stress-testing your mortgage visit www.meridiancu.ca. Sue Bennison | Meridian Credit Union

SUDOKU

Quick crossword no 13,836 (Solution on Page 9) 1

dict the future, you can at least prepare for it,” says Stayzer. “This is a bettersafe-than-sorry approach to ensure you can comfortably afford your home now and ten years from now.” Double check your results with a mortgage specialist: Mortgage specialists are well versed in

6 7

10 11

18 20

5 6 2 7 9

1 2 7

8 5 1 3

4 9 6

9 4 1 5 7 8 2

7 3 6 9 1 5 8

5 8 1 2 7 3 6 4

6 5 8 4 9 2 7

S U P U E R

S I T O A C K A S

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A P E V E L

T R O L A R L B V E L O G

A P I N C C N A D G I L O L

C L O C O K I O N E G T R

H O N L A N D D O F F F

D E P R A V E D

Solution no 13,835

1 At a considerable height (5) 2 Ruled (7) 3 Tools for punching holes (4) 4 Group of symptoms (8) 5 Exhausted (3,2) 6 Entailing great loss or sacriﬁce (6)

The Solution 6

Down

Down 15 Ultimate (5) 17 Rated (anag) (5) (5) 1At a considerable height Large 218 Ruled (7) town (4) 3 Tools for punching holes (4) 4 Group of symptoms (8) 5 Exhausted (3,2) 6 Entailing great loss or sacrifice (6) 11 Coffee-exporting South American country (8) 12 pasture (6) 13 Badly behaved (7) 15 ultimate (5) 17 Rated (anag) (5) 18 Large town (4)

Across Across 1Senior air force officeroﬃcer (3,7) 1 Senior air force 7 Thin seasoned broth or stock (8) (3,7) 87Textile (4) broth or Thinmachine seasoned stock (8) society (4) 9 Secret Chinese 8 Hard Textile (4) 10 rockmachine (7) 9 Very Secret Chinese 12 wealthy (4,2,5) society (4) 10 Hard rock (7) 14 Orange-yellow colour (7) 12 Very wealthy (4,2,5) 16 Brusque (4) 14 Orange-yellow colour (7) 19 Enter (2,2) 16 Brusque (4) 20 pestilential fellow (8) 19 Enter (2,2) 21 Obviously tired (6-4) 20 Pestilential fellow (8) 21 Obviously tired (6-4)

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

October 1, 2014

RENTALS FOR LEAsE

FOR LEAsE

hAmIlton

$1,400/mth

Stoney Creek

FOR LEAsE

$1,900/mth

grImSby

FOR LEAsE

$2,200/mth

328WoodwardAvenue

43RivieraRidge

7VanderburghLane

UPDATED 3 BR BUnGALOW! Open concept kitch looking into LR & master BR at the back of house. 2 parking spots avail. Close to bus stop, access to the Red Hill & QEW. Avail. for immed. possession. Credit Check, references & letter of employment req’d. Tenant to have contents & liability insurance.

FOR LEASE! Large 1.5 storey home finished top to bottom. Main floor bdrm w/ensuite, updated kitch, vaulted ceilings & gas fireplce in living rm. Fully finished bsmnt, fenced yard w/lrg deck w/retractable awning. Seconds from QEW. Credit Check, references & letter of employment required. Tenant to have contents & liability insurance.

OPEn COnCEPT fully upgraded two storey home. Large eat-in kitchen w/island, 3 large bedrooms. Walking distance to elementary schools and quick access to QEW. Credit Check, references & letter of employment required. Tenant to have contents and liability insurance.

E LEAs

vInelAnD

E LEAs

$1,450/mth

grImSby

$1,500/mth

E LEAs

grImSby

hAmIlton

1083BeachBoulevard TREnDY BEACH BLvD – 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. Tenant to have contents and liability insurance.

$1,300/mth

3905OldOrchardWay

515WinstonRoad,Unit#70

BranthavenHomes

BEAUTIFUL SEMI-DETACHED 3 BEDROOM raised ranch in quiet neighbourhood. Quick access to QEW. Single car garage with inside entry and sunroom. Recently renovated basement. First and last months rent required. Credit check, references and letter of employment. Tenant to have contents and liability insurance.

FULLY LOADED EXECUTIvE TOWn HOME FOR LEASE with lake views features 3 bedrooms, 2.5 baths, upgrades from top to bottom, bedroom level laundry, all appliances included. Quick access to QEW. Credit Check, references & letter of employment required. Tenant to have contents & liability insurance.

BRAnD nEW TOWnHOUSE, end unit by Branthaven homes in Grimsby. 1400 a month, utilities inclusive. Looking for a mature person/couple.

$4,400/mth

E LEAs

FlAmborough

$1,675/mth

40WoodhillRoad nICELY REnOvATED. Updated kitchen with quartz counter top, hardwood floors, main floor laundry and bathroom, beautiful yard and hot tub. Big house, big property. All new appliances. Minutes to Dundas. 1-4 year lease, rental app, credit check and notice of assessment needed.

8 fall home repairs you can’t afford to ignore Skip these maintenance tasks now and it'll cost you later Fall is the best time to get your house in order because come winter, small problems can turn into expensive nightmares. Our money-saving checklist covers many things, including your front lawn and your furnace. And many of the fixups cost little more than some time and effort. The following tips can save you thousands of dollars in repair costs. outdoor chores with an immediate payoff Once the winter freeze-and-thaw cycle kicks in, a tiny leak in your roof can turn into a crevasse—and a $10,000-plus repair job. Clogged gutters and dribbling spigots can also do a lot of damage, so take advantage of the cooler weather to do home and yard repairs and spruce-ups. Get some leaf relief Fallen leaves can kill grass when they’re matted down by snow. Leaf piles can also attract rodents. But using leaf bags means work and waste if they go into a landfill. What to do: Don’t overlook your mower’s mulching mode. Ground-up leaves feed your lawn and save money. You might need to make a few passes to slice the leaves small enough to decay. What you save: Along with saving the cost of leaf bags (Americans spend millions of dollars a year on them), you sidestep the stooping and bending of raking and bagging. Check the roof Leaks can eventually damage the wood sheathing and rafters below the shingles, leading to thousands of dollars in repairs.

What to do: Use binoculars to spot cracked, curled, or missing shingles safely from the ground. Consider having a roofing pro check flashing around chimneys, skylights, and roof valleys for leaks, and the rubber boots near vents for cracks that can let moisture seep in. What you save: At roughly $3 per square foot installed, new sheathing would total $6,900 for a 2,300-squarefoot house if you had to replace all of it. Figure on an additional $7,000 to $10,000 to install new shingles, plus added costs if the roof rafters need replacing. Clear gutter clogs Gutters stuffed with leaves, pine needles, and other debris can let water spill over the side, pool around your home’s foundation, and seep inside. Water that freezes in gutters can force snow and ice into roof shingles, causing damage and leaks. What to do: Consider a gutter-guard system to keep debris out and water in. Make sure that gutter drains extend 5 feet from the house—and that soil slopes away from the foundation 1 inch per foot for 6 feet or more. What you save: It cost about $300 a year for a pro to clean gutters in the fall and spring. That might be worth it rather than risking a fall off a ladder if you do the job yourself. Close your hoses Pipes can burst when water inside expands as it freezes, creating an expensive mess in your home. What to do: Shut off inside valves that control water flow to hose spigots. Then

briefly open the spigots to drain any leftover water in pipes and hoses. Also drain water from supply lines for water sprinklers and pools, and shut off inside valves that control them. And help prevent freezing by insulating pipes in unheated areas. What you save: Thousands of dollars in plumbing repairs and water damage, especially if pipes burst and cause a flood while you’re away. Inside jobs that’ll cut your expenses If your house is drafty and your furnace needs maintenance, you’ll be paying more to keep warm this winter than you have to. With a little caulk and some elbow grease you can tighten the envelope of your home. Your furnace is less likely to fail on a cold day if you do some quick maintenance now. automate energy savings Simply lowering temperatures 10 to 15 degrees while you’re at work or asleep can trim 15 percent off your heating bill. What to do: You can lower temperatures manually on any thermostat or install a programmable thermostat (about $40 to $300) to do it for you. What you save: Setting temperatures back can save you up to $100 per year, based on average heating costs. That’s $500 in your pocket after just five years. Energy-saving thermostat Ratings and recommendations. Plug the leaks The swiftest savings come from sealing air leaks in your home’s walls, windows, and especially its ductwork. What to do: Duct insulating and sealing are best left to a professional. But you can use a combination of caulk, foam

board, expandable sealant, and weather stripping to plug leaks around windows, doors, electrical outlets, and other openings in your home. What you save: Plugging leaks could lower your annual heating and cooling bills by $400. Replace furnace filters A dirty filter reduces heat and airflow, which can lead to expensive repairs. What to do: Check the air filter in the furnace or heat pump each month. And have a pro check the system annually (about $120), tightening electrical connections, lubricating moving parts, and checking drains, controls, and connections for oil and gas systems. What you save: About $200 to $300 or more for service calls and repairs, plus the discomfort and risk of frozen pipes if your home’s heating system shuts off. Gas furnace buying guide. Clean your chimney A wood-burning fireplace or stove may be cozy, but creosote buildup can block the flow of smoke and cause chimney fires and carbon-monoxide poisoning. And even unused chimneys can develop cracks that weaken the structure. What to do: If your chimney hasn’t had a recent inspection, now’s the time. Figure on roughly $150 to $300 for an inspection and a sweep. Go to csia.org for industry-certified chimney sweeps and check bbb.org for complaints. What you save: Up to $5,000 if the chimney flue liner cracks; thousands more if there’s a fire. You also avoid potentially deadly safety risks.

Call Today 905-575-7700

October 1, 2014

The Golfi TeaM Real Estate Market Watch

Hamilton, Stoney Creek Ancaster, Dundas & Glanbrook

Rob Golfi*

hAmIlton

Page 9

$299,900

Stoney Creek

$217,000

hAmIlton

$269,900

hAmIlton

$279,900

113MunnStreet

618BartonStreet,Unit#3

367East28thStreet

51CallieRoad

LOCATIOn ROCkS!! Sit on your deck and watch your kids in the park, amazing value in this large home. Loads of updates! Updates include windows, kitchen, shingles 2013, and beautiful exterior stucco. Large bedrooms in upper level, double drive with big garage and walk-out from kitchen to deck and yard.

CLEAn & BRIGHT TOWnHOUSE in great location! new carpet throughout, neutral décor, eat-in kitchen, master bedroom with walk-in closet and 3 pc ensuite, and finished basement. Updated windows and shingles and quick access to highway.

GOInG, GOInG, GOnE!! Lovely pocket of well-kept homes, walk to schools and shopping. Oak kitchen w/granite counters, updated windows, doors, shingles, large garage w/hydro perfect for a man cave. Private backyard oasis w/patio & landscaping. Side entrance to basement and long driveway.

PRIME MOUnTAIn LOCATIOn, 10++! Windows and doors main floor 2013, high efficiency furnace, kitchen cabinets upgraded, granite counter, freshly painted, refinished hardwood 2014. Bathroom updated. nice lot w/detached garage. Side entrance for in-law potential. Quick close available.

$876 per/mth P&I / o.A.C.

$ 1,198 per/mth P&I / o.A.C.

Stoney Creek

$699,900

Stoney Creek

$474,900

28SouthMeadowCourt

180MontrealCircle

LAvISH FROM TOP TO BOTTOM! Custom built, elegant home boasts pride of ownership throughout. This 2 storey home sits on 54x145 ft lot and features family size kitchen w/granite counters & butler pantry, showcase fireplace in family rm. Stamped concrete drive & patio w/oversized dbl garage.

4 bedrm multi-level home complete with hardwood & ceramics, vaulted ceilings, marble & Corian countertops, upgraded kitchen with loads of cupboards, and completely finished basement w/extra full bathrm. Double car garage, backing onto ravine. Get your clients inside.

$1,897 per/mth P&I / o.A.C.

$2,795 per/mth P&I / o.A.C.

hAmIlton

$199,900

113CameronAvenueNorth PRIME HAMILTOn EAST LOCATIOn!! Hamilton`s newest hot location, used as two family, some recent updates furnace/C/A 2012, shingles, baths 2006. Rear three car parking with easy access from street. Two bedrooms on main floor & one bedroom with living room (vacant) were getting 750.00/month w/utilities included.

Stoney Creek

$479,900

35ChiantiCrescent 3 BEDROOM, 2 STOREY HOME. Open concept living with hardwood and granite floors, vaulted ceiling, crown moulding. Basement with games room, wet bar and 4 pc bathroom. Patterned concrete, gazebo w/ fireplace & covered patio.

$1,078 per/mth P&I / o.A.C.

hAmIlton

$299,900

Stoney Creek

$198,900

7SunningHillAvenue

511#8Highway,Unit#208

LOCATED In GORGEOUs sought after Sunning Hill area, shows beautifully! Many updates: roof in August of 2014 with a 50 year warranty, furnace in 2007, CAC in 2004, kitchen in 2008, Main bath in 2011, 2 tiered deck in 2012, In-ground sprinkler system in May of 2013, & parking for 4 cars. Hurry this WILL nOT LAST!!!

GORGEOUS 2 bedrm terrace condo in prime Stoney Creek neighbourhood. The balcony can be accessed from both main floor & master bedroom. Hardwood floors in living room, bedroom level laundry, eat-in kitchen, well located in a small 21 unit complex. Close to Hwy access, bus, school, parks and all amenities. All appliances included.

$1,198 per/mth P&I / o.A.C.

hAmIlton

$269,900

$794 per/mth P&I / o.A.C.

hAmIlton

$299,900

187SanfordAvenueNorth

116HooverCrescent

GREAT InvESTMEnT OPPORTUnITY! Currently set up as a 3 unit home. Updates include furnace, water heater, and roof (2011). Potential rental income: Basement unit $750, Main unit $950, Upper unit $1200.

SECRET GARDEn PARADISE!! Well established in a prime mountain location! Bungalow with 3 bedrooms, 1 bath, carport with storage shed. Partial finished basement (walls studded), new windows, granite counters and ceramic flooring in kitchen and shingles in 2012. Side entrance could accommodate in-law.

$1,078 per/mth P&I / o.A.C.

$1,917 per/mth P&I / o.A.C.

$798 per/mth P&I / o.A.C.

$1,118 per/mth P&I / o.A.C.

$1,198 per/mth P&I / o.A.C.

WATERFRONT

hAmIlton

$284,900

78LorraineDrive GREAT MOUnTAIn LOCATIOn! This 3 bedrm, 2 bathrm bungalow is great for potential rental income. Interlock driveway and walkway w/great landscaping, fully finished basement w/side entrance including gas fireplace, full eat in kitch connecting to fabulous 4 season sun rm & hardwd flrs throughout.

$1,098 per/mth P&I / o.A.C.

hAmIlton eASt

$249,900

hAmIlton eASt

$949,900

532BeachBlvd

1087BeachBoulevard

An EXCITInG OPPORTUnITy for a small business to locate on Beach Blvd. Would suit many types of uses. very nice space with double front door entry. Has 200 Amp, 2pc bath and poured concrete floor. Flat roof done 2007.

$998 per/mth P&I / o.A.C.

Stoney Creek

723RidgeRoad BEAUTIFUL ESCARPMEnT vIEWS! Prime location on Ridge Road, close to all amenities. This property has a home suitable for renting or building your dream home. Buyer to satisfy themselves with building permits & costs. $1,597 per/mth P&I / o.A.C.

$3,794 per/mth P&I / o.A.C.

FrEE home Evaluation

$399,900

Crossword Solution

Get your home sold Fast!

905.575.7700 Call Today 905-575-7700

Page 10

The Golfi TeaM Real Estate Market Watch

October 1, 2014

Marketplace real estate lawyer

Paul lewis Settimi

Barrister, Solicitor and Notary Public

Jacqueline Paradisi

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

HOME STAGING

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homesmartsstaging.ca

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Ancaster Branch

Binbrook Marketplace Branch

Grimsby Branch

1100 Wilson Street West | 905-304-6838

2537 Regional Road 56 | 905-692-8359

155 Main St. E. | 905-945-2930

Centre on Barton Branch

Jackson Square Branch

Beamsville Branch

1187 Barton Street East | 905-547-6202

2 King Street West | 905-528-6391

4520 Ontario St. | 905-563-0822

Rymal Road Branch

Stoney Creek Branch (Opening Fall 2014)

Vineland Branch

2176 Rymal Road East | 905-692-3597

259 Queenston Road

Hamilton Commercial & Small Business Banking Centre 2 King Street West | 905-528-6391

www.GolfiTeam.com

3370 King St. | 905-562-7373