October 1, 2013 Issue 80

WHAT’S INSIDE: How to keep your Home’s Purchase Price Secret PAGE 2

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

HOMES FOR SALE Hamilton, Stoney Creek, Ancaster, Dundas & Glanbrook Listings PAGE 8

October 1, 2013 - Vol 57a

Rob Golfi Sales Representative

46 Rosedale Street Grimsby / Page 5

HOME EVALUATION NO COST • NO OBLIGATION

905-575-7700 • 905-945-0188

Page 2

The Golfi Team Real Estate Market Watch

October 1, 2013

About Rob Golfi

S

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

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

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 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)*. 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 10 of nearly 2,500 sales agents in the Hamilton-Burlington and Niagara areas**, listing with Rob and the Golfi Team is the right choice when choosing someone to represent your best interest. *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.

How to keep your Home’s Purchase Price Secret Many people want to keep their home’s purchase price off the title record.

C

lients often ask whether I can keep the price they are paying for their home off the title record. The main reason is for privacy.

They don’t think it is anybody’s business but theirs.

You can do it if you pay the land transfer tax in advance. The tax is usually paid by your lawyer, but you can do it yourself. If that’s the case, you must include these documents with your request: • A cover letter from the lawyer; • A copy of the original agreement of purchase and sale; • The draft deed to be registered on closing; • A copy of the statement of adjustments; • Three signed land transfer tax affidavits; and • A certified cheque payable to the Ministry of Finance for the amount of land transfer tax owing.

The Ministry will then provide your lawyer with a special code to be entered on closing, to confirm that the land transfer tax has already been paid.

The Ministry suggests that all material be sent three weeks in advance of closing to make sure it is completed in time. I’ve found that if you go in person to the Ministry office, you should be able to obtain the code that same day.

The GTA location is the Ministry of Finance offices, Land Taxes department, 33 King St. West in Oshawa L1H 8H9.

If the house is in Toronto, you will also have to pay the municipal Land Transfer Tax. In order to pre-pay this

tax, there is a similar process that must be followed but you have to send the material to a different location. In Toronto, take the same material noted above, together with the City of Toronto land transfer tax affidavits and send to the City of Toronto Revenue Services, Municipal Land Transfer Tax, North York Civic Centre, 5100 Yonge St., Lower Level, Toronto M2N 5V7.

The cheque is payable to the Treasurer, City of Toronto. A similar code will be given to enter on closing confirming that the tax has been paid in advance. If you are in a hurry, go in person with the documents and the certified cheque and you should be able to get the code that day.

If you are a first-time buyer, you are still eligible for the land transfer tax rebates and can deduct them from the amount payable for the tax. So for example, if this is your first home and it costs $300,000, the Ontario Land transfer Tax would be $2,975, but the rebate is a maximum of $2,000, so you would only pay $975.

If the property happens to be in Toronto, the Municipal Land Transfer Tax is $2,725, but since the maximum rebate is $3,725 in Toronto, no tax would be payable in the above example.

In all cases, what will show on your title after closing is either zero or $2 for the price paid. If you do want to take advantage of this, make sure that you speak to your lawyer in advance of closing so that the proper material can be prepared.

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

Protect your Family NOT your Bank!

.com LIFE INSURANCE | DISABILITY INSURANCE | CRITICAL ILLNESS INSURANCE

Mortgage Life Insurance Protection 10 & 20 Year Term Insurance Whole Life Insurance

Free Online Quotes Tel: 905-928-9870

save up to

30

%

on your mortgage life insurance

premiums

#1 Life Insurance Broker

www. GolfiTeam .com

October 1, 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

1

e r a We

#

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

Award

100%

Platinum

Club

Club

1999-2001*

2002*

Award

Chairman’s

Club

2003-2009*

Lincoln Lincoln

Binbrook Binbrook

West WestLincoln Lincoln

Thorold Thorolld

Pelham Pelham

Niagara Niag gara Falls Falls al

Welland Welland d

Wainfleet Wainfleet Wai

12 RE/MAX TEAM IN CANADA

#

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

Grimsby Grimsby

Port Por ortt Colborne Colborne

**

Fort FortErie Erie

40 RE/MAX TEAM WORLDWIDE

#

***

***

Award

Award

Lifetime

Achievement

Hall of Fame

Inducted 2003*

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

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

Dan Golfi

Sales Representative

Jeff Golfi

Sales Representative

The Golfi Team Real Estate Market Watch

GOLFI

Page 4

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

October 1, 2013

Committing to a Mortgage with your Honey? Consider these House Hunting Essentials (NC) House-hunting couples have many important decisions to make together – from deciding on a new-build condo or century-old bungalow to agreeing on the ideal neighbourhood and the type of mortgage that will work best for them.

According to research from TD Canada Trust, 73% of Canadians bought or expect to buy their first home with their significant other. Since a home is the biggest purchase most couples will make, Farhaneh Haque, director of mortgage advice at TD Canada Trust, provides her top three tips to ensure couples are on the same page before hitting any open houses.

Air out financial closets – Couples should be open and honest about their current financial situation and financial history. If anything could affect the ability to secure a loan together, afford monthly mortgage payments or interest

rate increases, be upfront about it.

Start on the same foot – From a home office to a kitchen made for entertaining, couples should set a budget and discuss the key characteristics they want in a home, and what they are and are not willing to compromise on.

Saying 'I do' to a mortgage – Couples need to give as much thought to their mortgage as they do to their dream home.

This includes discussing the size of the down payment, amortization period, type of mortgage and payment schedule.

“The last thing couples want is an unwelcome surprise when they're about to sign on the dotted line,” Haque said.

“By speaking with a mortgage specialist well before you've entered the pressurecooker of the house hunt, couples can make informed decisions that can save money and stress in the long run.”

Excerpt from www.newscanada.com

905-662-4022

www.golficoncreteandrain.com

Crossword Solution

FREE

HOME

EVALUATION

GRANITE KITCHEN COUNTER TOPS AS LOW AS

$199000

+TAX

SINK INCLUDED

Your home could be worth more than you think!

Call the

GOLFI TEAM

791 South Service Road, Stoney Creek 905-643-9982 • info@StoneHavenGranite.com

575-7700

(905)

www.golfiteam.com

October 1, 2013

The Golfi Team Real Estate Market Watch

Page 5

Grimsby, Lincoln West Lincoln & Niagara

Rob Golfi*

sMITHVILLE

$359,000

GRIMsby

$168,900

bEAMsVILLE

$291,900

5 Farewell Crescent

49 Ontario Street, Unit #14

4088 Cassandra Drive Unit #25

Fully renovated 3 bedroom, 1295sq.ft. home located in a quiet sought after subdivision features new flooring with porcelain tiles, engineered hardwood floors, new carpeting, new kitchen, bath, trim, doors, lighting, & updated appliances. Furnace, roof & electrical updated in the last 8 yrs.

Stunning townhome! Quality finishes throughout incl. hardwd flring, kit with breakfast bar, oversized master BR, walk-in closet, & a main floor bath. Condo fees are $280.00/month & incl. C/Air, & exterior maintenance, building insururance, hydro, parking, & water. Shows to perfection!

3 storey 1900 sq.ft. end unit freehold 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.

$1434 per/mth P&I / O.A.C.

sTONEy CREEK

$268,900

GRIMsby

53 Marina Point Crescent AFORDABLE ADORABLE – Freehold townhome 4 yrs new on quiet cul-de-sac, features open & inviting floor plan with 9ft ceiling, bedroom level laundry, large master bedroom with ensuite bath, rich ceramic floors, & quick access to QEW, $82.00/mth road fee.

$329,900 46 Rosedale Street

Gorgeous 3 level side split in quiet neighborhood on 68' x 146' ft. lot with a beautiful private backyard retreat. Quick access to QEW and all amenities. Gorgeous original hardwood floors throughout (re-finished 10') Shingles 09'. $1318 per/mth P&I / O.A.C.

$1074 per/mth P&I / O.A.C.

wEsT LINCOLN

$659,900

$1166 per/mth P&I / O.A.C.

$675 per/mth P&I / O.A.C.

sMITHVILLE

$444,900

bEAMsVILLE

$69,900

4455 Timothy Lane 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.

sT. ANNs

$539,900

5050 Canborough Rd

55 Las Road

5476 Attema Crescent

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.

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.

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.

$2,636 per/mth P&I / O.A.C.

wAINFLEET

$389,900

$1,777 per/mth P&I / O.A.C.

GRIMsby

$649,900

$2,156 per/mth P&I / O.A.C.

bEAMsVILLE

$235,000

40830 Forks Road

511 Main Street West

4993 King Street

2.8 acres of country living with pond. Updated 2 storey country charmer. This home has it all, 4 bedroom, 2 full baths, large eatin kitchen, main floor office, laundry and mudroom. Outside features a lovely wrap-around porch and 4 car garage.

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.

Prime location in downtown core. Storefront w/large window, front & back entrances. Can suit 2 businesses or 1 large one.

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

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

$2,596 per/mth P&I / O.A.C.

Call Today 905-945-0188

$939 per/mth P&I / O.A.C.

Page 6

The Golfi Team Real Estate Market Watch

October 1, 2013

The Pros and Cons of Rent-to-Own

As the real estate landscape changes, renting to own may provide a win-win for both owners and tenants.

The changes to the mortgage rules announced by Finance Minister Jim Flaherty last July are making it more difficult for first time buyers to get approved for a mortgage. Other buyers may have good credit but not enough of a down payment. At the same time, landlords are looking for good tenants to rent their units. Rent-toown may provide a win-win for both owners and tenants.

Here’s how it works: A landlord rents the home or condominium under a basic home lease. For an extra payment, the tenant receives an option to buy the home at a later date, for a set price. Let’s say the home is worth $250,000.

The parties agree the tenant will

have the right, but not the obligation, to buy the house in three years for $280,000.

The fee for this right, or option, is usually 2 or 2½ per cent of the final price. In this example, 2 percent of $280,000 would be $5,600. Then, each month, the tenant pays an extra fee, say $200, that also is applied to this option price. At the end of the three-year lease term, the tenant has put up close to 5 per cent towards the purchase price option. In this example, it would be close to $13,000.

If the tenant exercises their right to buy, they can use the $13,000 as the down payment and apply for a mortgage to finance the rest of the purchase.

Here are some of the advantages for the tenant: • You may not have the down payment now, but you will have it at the end of your lease, as a result of the additional payments; • If your credit is not good, you can improve it by making timely payments of rent; • You can try out the neighbourhood and if you change your mind later, you can just cancel the option; • If the market price of this home is more than $280,000 at the end of your lease, you still get to buy it for the same $280,000.

• If the market collapses and the home is worth less than $280,000, you do not have to go through with your purchase.

Here are some disadvantages: • There is no guarantee that a bank will give you your financing when you exercise your option. You still have to improve your credit score or find someone to co-sign your application; • If you don’t go ahead with your purchase, you usually have to forfeit the option payment.

Here are some advantages for the landlord: • Tenants on rent-to-own typi-

cally take better care of the property, thinking that they may own it one day; • Your profit is fixed at the time of the option.

In all cases, it is important that the parties have legal advice. Some agreements state that if your rent is late once, the tenant forfeits the right to buy the home. This needs to be changed so that as long as the tenant cures any default in a timely manner, they do not lose the right to buy. The tenant should also have the title checked to make sure that the correct owner of the home is giving the option.

Landlords need to make sure that the option payment is covered in a separate agreement, and is not included in the lease. If it is included in the lease and then the tenant defaults, if can be harder to evict the tenant from the property. Landlords also need to conduct a thorough credit and background check, to make sure that the tenant looks like they will have the means to make all of the required payments.

Rent to own can work for landlords and tenants if you are properly prepared in advance.

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

FREE HOME EVALUATION

Your home could be worth more than you think!

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

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

www.golfiteam.com

Dan Golfi

Sales Representative

Jeff Golfi

Sales Representative

October 1, 2013

The Golfi Team Real Estate Market Watch

Page 7

Life Insurance can be used in Many Effective Ways...

by Gianni Leonetti, Leonetti Consulting

L

ife insurance can be used in many effective ways, and so shouldn’t be dismissed quickly. Today, I want to share with you some of the ways in which many affluent Canadians have used life insurance in the past. Some of these ideas might just make sense for you.

1. Tax-sheltered accumulation Assets inside an insurance policy can accumulate free of annual income tax, and this sheltering can allow for greater accumulation over time than when using comparable vehicles. If you’re accumulating part of your investment portfolio inside an insurance policy, holding all or some of your fixed-income investments in the policy will allow you to shelter what might otherwise be highly taxed interest income.

2. Reliable returns on investment A number of Canada’s life insurance companies offer whole life policies with a very high consistency of returns in the form of dividends paid on the accumulating balances inside these policies. The low volatility of returns, along with the tax-free payout of these amounts upon the death of the insured, can create attractive internal rates of return.

3. Insured bequest of shares It is possible to donate private company shares to charity upon the death of a shareholder. Using life insurance, it is possible to then redeem the shares bequeathed to the charity to provide cash to the charity. The strategy results in an elimination of tax on the private company shares on death, greater value left to the heirs of the deceased’s estate, and cash in the hands of the charity.

4. Extracting funds from a holding company Many people accumulate significant assets inside holding companies, often the result of profitable businesses.

Accessing these assets on a tax-efficient basis can be a challenge because of the level of tax imposed on distributions from holding companies. Life insurance can be used to create a tax-free “pipeline” from the holding company to the shareholders as the result of the “capital dividend account” that can be created when a holding company is the beneficiary of a life policy.

5. Cascading assets to future generations Some families have more assets than

CROSSWORD PuzzlE (Solution on Page 4)

they will consume in the lifetime of the current generation. When assets change hands and move from one generation to the next, the tax liability can be significant in the absence of effective planning.

Life insurance can create an opportunity to move assets from one generation to the next free of tax when the lives of the next generation are insured by the current generation.

6. Creating a source of cash Some families have used life insurance policies as a means to accumulate assets and achieve attractive after-tax rates of return. These families recognize that they have access to the accumulating assets inside the policy if they desire to use it as a source of cash flow. While assets can be withdrawn directly from these policies, it is common to find these families borrowing against the policies to access cash instead (because it is more tax-efficient).

7. Covering taxes on death Given that life insurance pays out tax-free upon the death of the insured it can be an effective tool to provide cash at the time of death to satisfy a tax liability.

In addition, where there is exposure to

U.S. or other foreign estate taxes, it can be more cost-effective in some cases to use life insurance to pay those taxes rather than implement more complex and expensive structures.

8. Reducing the value of a corporation The higher the value of a family’s holding company at the time of death, the higher the potential tax liability that might arise. It is possible to use a “backto-back” structure where life insurance is purchased back-to-back with an annuity by such a holding company with the effect that the value of the holding company is reduced, thereby reducing the potential tax on those company shares on death.

Give us a call to discuss anyone of these points mentioned above and we will be more than happy to answer any questions you may have.

Contact Leonetti Consulting at 905-690-5052 or visit our website at www.leonetticonsulting.com so we can help you determine which is best suited for you.

SUDOKU 1

6 4 2

8 7 7 4 1

9 2 1 4 3 5 2

4 8 3 5 8 6 9 1 7 5

7 1

The Solution

9 1

4

2

5

8

7

3

6

4

9

5

1

1 4 3 6 9 8 2 7

4 3 1 5 9 2 7 6 8

2 6 7 8 3 1 4 5 9

8 9 5 6 7 4 1 3 2

7 2 6 9 1 3 5 8 4

1 5 8 2 4 6 9 7 3

9 4 3 7 8 5 2 1 6

Call Today 905-575-7700

2

5

13 15 18 19

Of sound (5) One way to nurture an infant (6-7) Gods' dinner? (8) Robbery at gunpoint (4-2) Hard by (4) Heating up of the earth (6,7) Bedtime habit (7) Administrative division of a country (8) Large, powerful, short-haired dog (7) North American country (6) Video button (5) Wild animal's place of refuge (4)

7

1 2 3 4 5 6 7 12

9 6

1 Automatic firearm (10,3) 8 Fanatic (slang) (3) 9 Branch of an Australian river formed by an overflow (9) 10 Dialogue (8) 11 Sharp on the tongue (4) 13 Round raised cake, often split and toasted (6) 14 Graze — glance through a book, magazine etc (6) 16 International canal (4) 17 Wayward (8) 20 Counterfeit (9) 21 Diamonds (3) 22 Knot made at the end of a rope (6,2,5)

3

8

Down

3

Across

2 5

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

Rob Golfi*

October 1, 2013

Hamilton, Stoney Creek, Ancaster, Dundas & Glanbrook

HAMILTON CTR

$169,900

sTONEy CREEK

$439,900

$268,900

53 Marina Point Crescent

214 Balmoral Ave. North

24 Drayton Ct.

Absolutely stunning! 3 bedrm home w/1.5 baths features gleaming restored hardwd flrs, open concept LR/DR, carpet in bedrms, kitch (’10), ceramics, backsplash, baths, most windows, 100 amps, newer furnace, front porch, front & rear parking. Just painted!

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

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

sTONEy CREEK

AFORDABLE ADORABLE – Freehold townhome 4 yrs new on quiet cul-de-sac, features open & inviting floor plan with 9ft ceiling, bedroom level laundry, large master bedroom with ensuite bath, rich ceramic floors, & quick access to QEW, $82.00/mth road fee. $1074 per/mth P&I / O.A.C.

$1757 per/mth P&I / O.A.C.

NE O ER H T NO A D SOL HAMILTON MTN

$299,900

58 Robson Crescent IN-LAW SET-UP! All brick raised ranch, oak kitchen, double concrete drive, rear patio for entertaining, walking distance to schools, easy access to the LINC. Freshly painted, nice view of green space, mostly hardwood and ceramics. Lower level great for in-law or teenagers. $1198 per/mth P&I / O.A.C.

HAMILTON EAsT

$439,900

sTONEy CREEK

$329,900

788 Barton Street WORKSHOP, GARAGE, IN-LAW, LOT, VIEWS, INCOME!!!

This house has it all! Great location, loads of parking for your boats & R/V. High basement one bedroom rented month to month.

Main/second floor 3-4 bedroom rented on month to month. One bedroom cottage rented month to month. All currently rented.

$589,900 26 Field Road

Picturesque 6.26 Acres, 4 BR family home features an in-ground pool, Quonset building, separate log cabin in the woods, Gazebo, deck, 2 fireplaces, 4 baths, kitch w/vaulted ceilings, dble car garage, new furnace & carpeting, freshly painted, refinished hardwd flrs boarders the Rail trail & more. $2,356 per/mth P&I / O.A.C.

$1318 per/mth P&I / O.A.C.

sTONEy CREEK

$297,500

295 Nashville Circle

22 Puritan Courts

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.

Prime Stoney Creek location! 2 storey, 3+2 bedroom home complete with hardwood, reno’d kitchen, spacious bedrooms is waiting for you to move in. Steps from Mohawk College, this home features in-law suite with separate entrance. Double driveway and fenced-in yard. Don’t miss out on this winner!

$1757 per/mth P&I / O.A.C.

ANCAsTER

$1188 per/mth P&I / O.A.C.

HAMILTON MTN

$159,900

92 East 32nd Street Larger than it looks! 2 bed bungalow perfect for first time buyer or retiree. Updates include: new bathroom, updated kitchen, new shingles, insulation, landscaping, new electrical, water line and plumbing all done in 2010. Nice neutral décor throughout.

Everything is done just move in! $639 per/mth P&I / O.A.C.

NE O ER H T NO A D L O S HAMILTON MTN

$419,900

12 Deborah Court NICEST COURT IN HAMILTON! Immaculate 3 years old, 9 foot ceilings, asphalt driveway, fencing, landscaping, central air, hardwood and ceramics on main level, bedroom level laundry, balcony off bedroom , huge backyard, double drive and garage, cold room and energy star certified. $1677 per/mth P&I / O.A.C.

HAMILTON EAsT

$98,500

bURLINGTON

454 Paling Avenue

$949,000

470 Patricia Drive

Centrally located two bedroom home with easy highway access, large 23 by 23 ft. workshop in rear yard. Updates include siding, roof, electrical panel, furnace, and Central air. Home needs work, great for first time home buyers, or investors.

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.

$393 per/mth P&I / O.A.C.

$3790 per/mth P&I / O.A.C.

www.golfiteam.com

October 1, 2013

The Golfi Team Real Estate Market Watch

Page 9

Hamilton, Stoney Creek, Ancaster, Dundas & Glanbrook

Rob Golfi*

NE O R E H NOT A D L O S HAMILTON EAsT

$219,900

bURLINGTON

$974,900

HAMILTON CTR

$139,900

2584 King St. East

476 Patricia Drive

SHOWS 10+! UPDATED ONE FLOOR PLAN! Huge driveway, great location minutes from Red Hill and Eastgate Mall. Updates include aluminum roof, kitchen, bathroom, windows, flooring & plumbing. Private backyard oasis overlooking ravine. On ground pool w/stamped concrete patio.

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

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.

$3894 per/mth P&I / O.A.C.

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

$878 per/mth P&I / O.A.C.

213 Rebecca Street

NE O ER H T NO A D SOL HAMILTON EAsT

$139,900

ANCAsTER

$514,900

sTONEy CREEK

$289,900

95 Hope Avenue

34 Norma Crescent

18 Lynwood Drive

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.

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.

All brick Raised ranch in desirable neighborhood ready for your finishing touches, sitting on large lot, features open and inviting floor plan with fully finished basement new plywood & shingles 2008, new vinyl windows 2008, new furnace & C/air 2010, new c/vac system.

$559 per/mth P&I / O.A.C.

$2057 per/mth P&I / O.A.C.

$1158 per/mth P&I / O.A.C.

FREE

HAMILTON CTR

$154,900

19 Edgar Street Renovated two storey, ready to move in! Three bedroom, all with laminate floor, no carpet in the house. Beautiful new kitchen with new appliances included. Two new bathrooms, upgraded insulation, vinyl windows, interior weeping tile done. Walk to new Center mall and schools.

E M O H EVALUATION CALL TODAY

THE GOLFI TEAM

905-945-0188 erties currently for sale.

Not intended to solicit prop

HAMILTON CTR

$239,900

216 Burlington Street East Newly built in 2010, 1500sq.ft. 3 bedrm home ready for immediate possession!

Features beautiful plush carpet, ceramics floors, freshly painted, family size kitchen, large family rm w/large bright windows, ensuite bath in master bedrm, walking distance to bayfront park, & quick access to QEW. $958 per/mth P&I / O.A.C.

$619 per/mth P&I / O.A.C.

NE O ER H T NO A D L O S HAMILTON

$299,900 81 Terrace Drive

Exceptional 3 bedroom bungalow in desirable location. 16x16 deck & large landscaped yard w/new fence. Oversized ins. garage with hydro. Updated kitchen w/bkfst bar & newer appliances, renovated bathrm, new windows, hardwood flrs & main flr laundry. Newly fin. basement featuring gas fireplace, potlights & large windows. $1198 per/mth P&I / O.A.C.

bURLINGTON

$799,900

HAMILTON MTN

$975,000

243 Plains Rd

516-526 Concession Street

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

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.

$3,195 per/mth P&I / O.A.C.

$3,894 per/mth P&I / O.A.C.

Call Today 905-945-0188

Page 10

The Golfi Team Real Estate Market Watch

October 1, 2013

Marketplace Senior Downsizing WE GUIDE YOU THROUGH THE ENTIRE PROCESS Pamela Culp Blanchard Cell: 905-971-9568 www.seniordownsizing.ca

Clutter Removal & Organizing WE GUIDE YOU THROUGH THE ENTIRE PROCESS Pamela Culp Blanchard Cell: 905-971-9568 www.beclutterfree.ca

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

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

paul.settimi@cogeco.net

TAKE THE STRESS OUT OF MOVING! David Ryback Regional Sales Manager

WINNER

Hamilton: 905-573-8776 Grimsby: 905-945-5540 www.harveymoving.com david@harveymoving.com

THE

ULTIMATE CLEAN EVENT IS ON NOW! 2-Way Linked Communication

True HEPA Filtration

360° Quick Release Bucket

Introducing the New Alliance Central Vacuum System from

BEAM

Complete BEAM Systems from

$399 15

185 Parkdale Ave. N. Tel: 905-549-2505 Dealer may sell for less. *Ask your Beam expert about the Total Confidence Warranty.

Year Warran ty

Go to parkdalevacuum.com to Download our Latest Flyer Dealer may sell for less.

www.golfiteam.com

October 1, 2013

The Golfi Team Real Estate Market Watch

Page 11

Canadian farmland values reach record levels in 2013 as demand outpaces supply in most markets, says RE/MAX

W

hile Canadian farmland values posted serious yearover-year increases in most rural communities, lower commodity prices are expected to temper appreciation in coming months, according to a report released recently by RE/MAX. The RE/MAX Market Trends Report: Farm Edition 2013, highlighting trends and developments in 17 rural communities throughout Canada, found that limited inventory levels—reported in virtually all agricultural centres—continued to contribute to strong upward pressure on the price per acre in 88 per cent (15/17) of markets examined. Peak commodity values and low interest rates created the ideal climate for expansion over the past 12-month period, spurring unprecedented demand for farmland.

"No real fallout has been experienced as a result of diminished commodity values so far this year," says Gurinder Sandhu, Executive Vice President and Regional Director, RE/MAX Ontario-Atlantic Canada.

"Yet, some moderation is likely, given several years of back-to-back recordsetting gains. Some investment funds have already scaled back on purchases, still moving ahead but at a more cautious pace. We expect the trend to continue, with prices stabilizing at current levels. Demand, on the other hand, is expected to remain healthy for the foreseeable future, given the positive long-term outlook for global agricultural markets."

To date, percentage increases in land values range from market to market, with the greatest upswing noted in Saskatchewan and Alberta.

In the East, gains were strongest in London-St. Thomas' Middlesex West area, followed by Windsor/Essex County and Kitchener-Waterloo.

Only the Annapolis Valley in Atlantic Canada and the Fraser Valley in

British Columbia reported that prices held firm year-over-year.

Cash cropping land continues to be most sought-after, with bare land in greatest demand (no buildings or residences). Tiled and irrigated land for specialty crops are also fetching top dollar. Premiums continue to be paid for tracts abutting or adjacent to existing farm operations. Livestock farmers are also getting into the cashcropping business, with some in Western Canadian markets converting good pasture land to grainland.

"The primary drivers in the market continue to be end-users—established farm operators expanding existing operations," says Elton Ash, Regional Executive Vice President, RE/MAX of Western Canada. "Be it cashcropper or livestock farmer—the economies of scale continue to support expansion. There are many buyers waiting in the wings, but momentum is hampered to some extent by a shortage of farmland listings.

Investors—both institutional and individual—are still active in Canadian agricultural centres, but their presence has subsided in recent months."

The RE/MAX report also found

that private and exclusive transactions still account for as much as 50 per cent of farm sales, with deals among neighbours commonplace.

Some multiple offers have been reported, but most properties are moving at or close to fair market value. While demand remains exceptionally strong, there is some evidence that cooler heads are now prevailing. There has been an increasing number of properties that did not move at tender or auction, only to sell for good prices on the open market— indicative that buyers are exercising greater caution and diligence. The lack of success at tender/auction may also provide a muchneeded, albeit modest, boost to farmland listings going forward.

While days on market have climbed in a number of centres yearto-date, time on market should narrow heading into the traditional fall market. Many centres have reported sales on par with levels one year ago, although the Prairies have once again demonstrated greater momentum.

Transactions have climbed in Southwest Manitoba, Northern Saskatchewan and East Central Saskatchewan.

The competition among expanding farm operators is creating greater difficulty for young start-ups, smaller operators, and new immigrants, with affordability a serious issue.

Programs offered by Farm Credit Canada (FCC) are helping some make the foray into the business.

Others are realizing the dream of farmland ownership through the help of older farmers and/or relatives.

Ultimately, the result has been fewer, but larger farms overall—a trend that holds up from coast-to-coast.

Succession is also playing a significant role and limiting farmland supply. As a result, the rental market for farmland, along with rates, has experienced strong growth as well, with quality farmland commanding higher prices per acre per growing season.

The income potential—particularly given the poor return on other financial investment vehicles—is another factor exacerbating limited inventory levels.

Residential farmland use was also noted as a growing trend in many Canadian centres. While some purchasers represent an increasing contingent of hobby/gentleman farmers, many of these buyers never intend to farm an acre. Some are intent on recreational use, while others are simply taking advantage of price point, proximity to town, favourable tax rates, and income potential.

"Whether it's owning, renting, investing, or securing farmland for residential purposes, it's clear the market for Canadian farmland remains strong from many angles," says Sandhu. "Regardless of purpose, motivation remains the single greatest common thread. The desire to bury money in the ground is clearly evident. The long-term confidence in the performance of Canadian farmland— from both an investment and agricultural perspective remains strong."

My Money: Water heater rental wars not helping consumers

I

f it was all about the cheapest option, Ontario residents would buy their water heaters rather than rent them.

Yet 60 per cent of us rent, either because it’s convenient or it’s too onerous to get out of a rental arrangement. When the doors opened to competition in the water heater rental business in Ontario in the late 1990s, con-

sumers gained more options but little else.

Some of the new companies have been criticized for making misleading pitches during door-to-door campaigns to get consumers to sign contracts of up to 15 years. The established players, Reliance Home Comfort and Direct Energy, are currently before the federal Competition Tribunal accused of employing aggressive tactics to stop customers from leaving, restricting when and where water heaters can be returned, and charging “unwarranted” fees.

Instead of bringing down rental costs and improving service, the battle has consumers caught in the crossfire.

Water heater rentals and removal were the No. 2 source of written complaints to the Ontario Ministry of Consumer Services last year.

That is one of the reasons the Homeowner Protection Centre, a notfor-profit organization with homeowner and industry representatives, did an in-depth report on the issue and is recommending some regulatory changes

and more enforcement of current rules to better protect consumers.

It’s calling for a code of conduct for door-to-door sales that requires monthly fees, buyout costs, terms and conditions for rented water heaters to be spelled out in clear language. The Ontario government stated in its recent throne speech that it wants to improve consumer rights when it comes to door-to-door sales.

“We’re delighted they’re going to move on this and we’re just waiting to see what that regulation is going to look like,” said Michael Lio, executive director of the Homeowner Protection Centre. In the meantime, consumers should be careful, he said. “Don’t sign a contract on the spot.”

If you do, you have the right under Ontario law to cancel it within 10 days.

The report also recommends firstyear buyout prices for rental water heaters in new homes be regulated to ensure they represent fair market value. It notes that some companies provide incentives to new home

Call Today 905-575-7700

builders to install their water heaters, locking new home buyers into high monthly costs unless they pay an inflated price to buy the units.

It suggests that when any home with a rented water heater is sold, the company should be required to provide a copy of the rental agreement and any warranties to the buyer when the sale closes. Buyers who don’t want a rental should try to make removal of the water heater the home seller’s responsibility in the sale agreement.

There is a sense tighter regulation of the industry is coming, but consumers also need stay informed, Lio said.

A third of the Canadians with rented water heaters who were surveyed for his agency’s report didn’t even know the name of their rental company or how much they were paying per month.

Once they added up the numbers and read the terms and conditions, they might think twice. To see the full report go to homeownerprotection.ca. evanwageningen@windsorstar.com

Executive Freehold Towns 60 - 90ngs

si o l C

y a D le Availab

g n i l l e S w o N 2 e s a h P

e l l i v s m a e B

Starting at

Stylish 2-Storey 1,700-1,900 sq.ft. Towns with 9 ft. ceilings & double car garages, backing onto a 5-acre community park!

271,900

$

Stadelbauer Dr.

King St.

Connor Dr. Sales Office

18

South Service Rd.

King St.

Mountain St.

South Service Rd.

QEW

Ontario St.

QEW

Cassandra Dr. Hillside Dr.

DOUBLE CAR GARAGES!!!

NOW uNDER CONSTRuCTION

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

www.GolfiTeam.com | 905-945-0188