October 21, 2013 Issue 81

WHAT’S INSIDE: How to avoid condo board breakdowns 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 21, 2013 - Vol 57b

40830 Forks Road Wainfleet / Page 9

Happy Halloween Rob Golfi Sales Representative

GET YOUR

HOME SOLD FAST FOR TOP DOLLAR CALL NOW!

905-575-7700

905-945-0188

Page 2

The Golfi Team Real Estate Market Watch

October 21, 2013

About Rob Golfi

R

ob’s career in real began in estate 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.

How to avoid Condo Board Breakdowns When a condominium community goes to war, everyone loses. Here's how to avoid that.

When a condominium community goes to war, everyone loses.

The owners lose trust in the board of directors’ ability to manage the condominium. Necessary repairs go undone.

Not enough money is collected to pay for future repairs. Nothing gets accomplished, and the value of the units declines. Often, disgruntled owners try to replace the directors. In some cases, the courts have to appoint a third party to come in and fix things.

The courts will get involved if it can be demonstrated that the corporation is being mismanaged, there is misconduct by the board of directors or the management company, or there are competing groups of owners who are not able to agree. It is very expensive to hire lawyers to do this, so it normally takes a large group of owners to get this done.

The courts get involved when reserve funds have been drained and major repairs are needed following years of neglect by successive boards trying to keep costs down. In some cases, it is the board of directors who ask the court for assistance, when they want additional funds for repairs, only to be voted down by a majority of the owners.

The court administrator will typically conduct an assessment of the condo’s finances and will work with the owners to develop a proper plan of action to restore the building. If necessary, they will come back to the court to approve the steps they are recommending.

Suffice it to say that when buyers hear that a condo building is under a courtappointed administrator, they are nervous about buying.

Here’s how to protect yourself from being part of a dysfunctional condominium group: • Read all the condo documents before you buy, including the rules, restrictions and financial statements. Make sure they are not running a deficit and

there is enough money in the reserve fund to pay for repairs.

• Volunteer to join committees to assist in making the building more of a community; to learn about problems and pass them on to the property manager for resolution.

• Attend all meetings to make sure that you understand and agree with the decisions being made.

If you are part of a condo board, here are some ways to instill confidence: • Hire a professional property manager.

• Address owner concerns promptly.

• Have timely communication with notices posted around the building, especially when rules are not being followed (for example, unit owners parking in visitor parking spaces).

• Make sure any major repairs are discussed in advance with all owners through information meetings.

• Ensure that a proper tender process for major repairs, so that the corporation gets the best value for the money spent.

• Avoid conflicts of interest; do not vote on any matter or permit a personal friend or relative to gain any advantage in dealing with your corporation.

• Have a transparent process to release financial details to unit owners.

• Consider making part of a director meeting open to all the members, to help them learn more about issues facing the corporation.

When unit owners and their boards work together, with open communication, creating a sense of community and always acting in everyone’s best interests, then your condominium will only increase in value.

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.

‘LIKE’ us on Facebook The Rob Golfi Team Remax

www. GolfiTeam .com

October 21, 2013

The Golfi Team Real Estate Market Watch

Page 3

GET YOUR

HOME SOLD FAST FOR TOP DOLLAR CALL NOW!

905-575-7700

1

e r a e W

#

Freelton Fre reelt elton

905-945-0188

Hamilton Burlington Niagara Burlington Burlington

Waterdown Waterdown

Dundas Dund das

Hamilton Hamilton

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Mount Mount Hope Hope

Stoney Stoney Creek Creek

Award

Award

100%

Platinum

Club

Club

1999-2001*

2002*

Award

Chairman’s

Club

2003-2009*

Grimsby Grimsby

Lincoln Lincoln

Binbrook Binbrook

West WestLincoln Lincoln

Thorold Thorolld

Pelham Pelham

Niagara Niag gara Falls Fal alls

Welland Welland d

Wainfleet Wainfleet Wai

11 RE/MAX TEAM IN CANADA

#

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

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

Page 4

The Golfi Team Real Estate Market Watch

October 21, 2013

Grimsby, Lincoln West Lincoln & Niagara

Rob Golfi*

GRIMSBY

$259,900

DUNNVILLE

$289,900

GRIMSBY

$269,900

10 Wentworth Drive, Unit 4

24 Maplewood Court

109 Sumner Cres.

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.

Located on a quiet cul de sac in Maplewood estates. Open concept with vaulted ceilings. Walkout from Master bedroom to hot tub and private deck. Finished lower level with bedroom and bathroom. Walk out to private yard, fully fenced with custom built shed with hydro.

TRENDY AND STYLISH! 1465 sq.ft Gorgeous kitchen with breakfast bar and SS appliances, showcase gas fireplace with mantel in living room and California shutters mostly thru-out.

Professionally painted plus bedroom level laundry room, roughed-in bath in basement, access to back yard through garage & fenced yard.

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

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

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

GET YOUR

HOME

SOLD

GRIMSBY

$425,000 25 Red Haven

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.

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

SMIthVILLE

$359,000

FAST FOR

TOP DOLLAR CALL NOW!

905-945-0188

GRIMSBY

$168,900

5 Farewell Crescent

49 Ontario Street, Unit #14

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!

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

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.

LINCOLN

$271,900

4082 Cassandra Dr., Unit 22 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”.

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

GRIMSBY

$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.

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

WESt LINCOLN

$659,900

SMIthVILLE

$444,900

5050 Canborough Rd

55 Las Road

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.

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

www.golfiteam.com

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

October 21, 2013

The Golfi Team Real Estate Market Watch

Page 5

Grimsby, Lincoln West Lincoln & Niagara

Rob Golfi*

St. ANNS

$539,900

WAINfLEEt

$389,900

GRIMSBY

$649,900

5476 Attema Crescent

40830 Forks Road

511 Main Street West

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.

2.8 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.

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

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

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

39% of Canadians who operate small businesses out of their homes say they do not have insurance coverage – either extensions of their home insurance policies or separate business policies – specific to those businesses. This situation could have disastrous results for these entrepreneurs.

L

et’s consider an independent, home-based retail products distributor. It doesn’t matter what the product is (e.g., cosmetics, household cleaning products, food storage containers), the implications are the same. First of all, what if while you’re out delivering your orders someone breaks into your car and steals all your product? That loss will not be covered under your auto insurance policy, because theft of contents from a vehicle is covered under home or tenant’s insurance. However, because the product is related to a business, and you have not disclosed to your insurer that you are running a business from your home, your home or tenant’s insurance policy will not cover the loss.

Now think about the courier company employee that comes to your home to deliver your product, or business-related documentation. What if he or she slips and falls, suffers a terrible injury and decides to sue for damages? Will the liability portion of your home insurance policy protect you? No, it won’t. The injury was the direct result of an activity related to your business, therefore it is not covered under your personal home insurance policy. But that does not relieve you of the responsibility to compensate the injured courier. He or she has the legal right to pursue compensation

through the courts. Without proper business liability insurance, you could be ruined financially if the courts find you legally liable for the courier’s injuries.

And what if one of the products you sell causes injury to a consumer? That consumer can sue the product manufacturer for compensation, but you would also be liable as the distributor of the product.

A house fire could also have devastating consequences for you. If everything related to the business is lost – all your product, computer equipment, office furniture, records, etc. – none of it will be covered under your home insurance policy. What is more, it’s likely that if you have not disclosed the existence of the home-based business to your insurance company, your home insurance policy will be voided and none of your loss will be covered. Is it worth it? What you think you’re saving by not paying for an additional insurance policy is nothing compared to what you stand to lose. All Canadians running home-based businesses should consult their insurance representatives immediately to ensure they have the proper insurance coverage for their particular businesses.

GOLFI

Home-based Business Insurance - Need to Know!

by Lindsay Olsen, Insurance Bureau of Canada

Call Today 905-945-0188

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

Page 6

The Golfi Team Real Estate Market Watch

October 21, 2013

Municipal Year-to-Date Statistics September 2012 vs September 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 Sept 2013 / 2012

Based on sales data on all home sales from September 2012 vs September 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

758 673

117 131

487 430

$482,105 $462,213

53 47

98% 97%

BURLINGTON (DIST. 30 to 36 & 38)

2013 2012

3557 3146

314 264

2503 2548

$489,499 4453,388

33 30

98% 98%

DUNDAS (DISTRICT 41)

2013 2012

355 327

30 37

254 288

$388,693 $357,161

43 48

98% 98%

GLANBROOK (DISTRICT 53)

2013 2012

485 428

82 69

334 284

$340,293 $344,346

60 59

98% 98%

GRIMSBY (DISTRICT 54,55)

2013 2012

481 439

61 73

320 325

$350,959 $349,115

50 49

97% 98%

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

2013 2012

841 805

98 118

645 661

$208,116 $198,967

38 44

97% 97%

HAMILTON WEST (DIST. 10, 11, 12)

2013 2012

734 720

86 116

511 548

$318,166 292,647

37 44

99% 98%

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

2013 2012

1890 1740

163 232

1439 1451

$281,168 $265,282

36 40

98% 98%

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

2013 2012

1253 1090

202 243

884 845

$176,042 $161,857

41 44

97% 97%

BEAMSVILLE (DISTRICT 981)

2013 2012

213 152

26 36

138 119

$296,256 $284,513

43 51

98% 98%

WEST LINCOLN (DISTRICT 56, 982)

2013 2012

112 80

15 21

62 51

$378,133 $345,363

62 67

97% 96%

SMITHVILLE (DISTRICT 57)

2013 2012

89 89

12 25

53 57

$269,168 $263,042

57 60

97% 97%

STONEY CREEK (DISTRICT 50,51,52)

2013 2012

1054 994

149 177

722 778

$327,088 $314,040

42 49

98% 98%

Bank of Canada keeping its 1% overnight lending rate

T

he Bank of Canada announced on September 4th 2013 that it was keeping its trend-setting overnight lending rate 1 per cent, where it has been since September 2010.

The Bank kept to the message given by its most recent Monetary Policy Report (MPR) released in July in that it still expects modest economic growth and low inflation to continue.

Bank Governor Poloz still expects business investment and exports to pick up, but acknowledged that it is taking longer than he anticipated due to skittish business confidence in the face of global economic uncertainty and slower than hoped for U.S. economic momentum.

The Bank also acknowledged that the Canadian housing market has remained stronger than expected, but that growth in household debt is losing steam.

“The Bank will eventually raise its trend-setting Bank rate but it is no hurry to do so given the ample slack in the Canadian economy,” said Gregory Klump, CREA’s Chief Economist. “The September Bank rate announcement

does nothing to change the prevailing consensus among economists that places the first such increase more than a year down the road and that it will be a slow and gradual process.”

As of September 4th, 2013, the advertised five-year lending rate stood at 5.34 per cent, up 0.2 per cent from the previous Bank rate announcement on July 17th.

In RED HOT San Francisco Real Estate market, Parking Spot goes for $82,000 SAN FRANCISCO – Parking spots apparently aren’t immune from the recent surge in San Francisco real estate prices.

A spot in the city’s trendy South Beach neighbourhood sold last week for $82,000, the San Francisco Chronicle reported.

The 8- by 12-foot parking space is in an enclosed garage in a condominium building near the San Francisco Giants’ ballpark. A Porsche SUV was parked in it on Thursday.

The Chronicle said the unidentified buyer did not respond to interview requests.

While it may seem like a lot of money, real estate agents said parking could be a good investment in densely packed San Francisco, where vehicle spaces go for a premium. They can add as much as $100,000 to the purchase price of a property or be rented out at rates of $400 to $450 a month — the going rate in South Beach.

“We had a very good response right out of the gate,” said Sean Sullivan with Climb Real Estate, which sold the spot. “It was only in the market two weeks.”

Sullivan said he sold a parking spot in the same building at the height of the last real estate boom for $95,000.

Overall, the city has seen real estate prices climb. Home prices in San Francisco grew by 22.2 per cent compared with a year ago, second only to Phoenix among U.S. cities, according to The Standard & Poor’s/Case-Shiller home price index released in May. Home prices in the wider, nine-county San Francisco Bay area posted a 12th straight month of double-digit price increases, according to research firm DataQuick. DataQuick said that the median price for new and existing houses and condominiums reached $519,000, up 30 per cent from the same period last year.

Condos in the South Beach area are going for $1,000 a square foot, the Chronicle reported. At 96 square feet, the parking space was a relative bargain at $854 per square foot.

Sullivan said the building where the parking spot was sold was built before the city restricted spaces to one per unit. It is one of the few buildings that allows nonresidents to own a spot.

The owner has a deed and must pay property taxes and homeowner association dues.

The sale was all cash.

www.golfiteam.com

October 21, 2013

The Golfi Team Real Estate Market Watch

Page 7

Are your investments Guaranteed, Insured and Protected??

by Gianni Leonetti, Leonetti Consulting Planning for your retirement is a big decision. You need to take a number of things into consideration. With a growing life expectancy in Canada, the next wave of retirees will have to grow their nest eggs to last throughout a retirement that might span 25 years or more. Longer and more active retirement lifestyles could expose your savings to the rising cost of living and the potential of outliving your income.

Fortunately, there is a solution through an innovative retirement product that helps to mitigate the risks by providing a Guaranteed Retirement Income for Life.

As the next generation of retirement solutions in Canada, this structure provides the opportunity to grow your savings while helping protect your income from some of the risks of investing in the market.

Here are just a few of the key benefits: 4 Income guaranteed for life 4 Single and Joint Tiered guaranteed income options available as early as age 55 4 A 5% Annual Income Base Bonus every year 4 Automatic resets every three years potentially increase your guaranteed income and Death Benefit Guarantee 4 Auto Income Reset means you are not tied to the same payout rate for life but move to the next percentage tier based on age 4 Retirement Income Privileges let you choose to discontinue your income payments and then resume at any time 4 A variety of diversified funds to choose from 4 100% Death Benefit Guarantee, which means your Death Benefit value (net deposits), will be paid to your named beneficiary without the burden of probate fees

CROSSWORD PuzzlE (Solution on Page 11)

Benefits – Segregated Funds vs. Mutual Funds/Stocks/Bonds Segregated Mutual Fund/ Stocks/Bonds Fund Potential Creditor Protection No 4 Death Benefit Guarantee No 4 Maturity Guarantee No 4 Probate Fee Bypass No 4 Estate Fees Mimimization No 4 Potential for your invested capital to benefit from market growth Built-in Maturity and Death Benefit Guarantees Flexibility to switch your investment Access to your capital at all times Potential for creditor protection Potential for estate planning Individuals are getting tired of hearing about the economic and global meltdown, furthermore investors are more and more frustrated as they see their retirement portfolios slide in a negative direction. More and more of my clients are choosing the guarantees built into the above investment structure for their retirement portfolios. Please give us a call so we can discuss further, at the end of the day you owe to yourself to explore…it’s your money!!

4 4 4 4 4 4

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

SUDOKU 3 8 1

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Master — stud (4) Assignment — calling (7) Emaciated (5) Painstaking — I tingled (anag) (8) 5 Very scary (4-7) 6 Go wrong (11) 10 Conjuror (8) 12 Pioneering (green light?)

(2-5) 15 Funny (5) 17 Svelte (4)

2

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5 Loutish behaviour (11) 7 Nervous tension that lets a golfer down? (4) 8 Showing good judgement (8) 9 Deep red (7) 11 Planet (5) 13 Gloomy (5) 14 Get hold of (7) 16 Waterproof fabric (8) 17 Dumpster (4) 18 Force of attraction between masses (11)

4 3 6

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Call Today 905-575-7700

9 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 21, 2013

Hamilton, Stoney Creek, Ancaster, Dundas & Glanbrook

Rob Golfi*

hAMILtON EASt

$319,900

DUNNVILLE

$289,900

StONEY CREEk

$274,900

159 Adeline Ave.

24 Maplewood Court

366 Celtic Dr.

CUSTOM BUILT! Brand new open concept 1300 sq.ft. bungalow with double car garage on a large 45x107 ft. lot. 3 bedrooms, 2 bathrooms, hardwood floors, gas fireplace, fully fenced yard, and paved driveway. Immediate possession available.

Located on a quiet cul de sac in Maplewood estates. Open concept with vaulted ceilings. Walkout from Master bedroom to hot tub and private deck. Finished lower level with bedroom and bathroom. Walk out to private yard, fully fenced with custom built shed with hydro.

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.

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

hAMILtON CtR

$169,900

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

WAINfLEEt

$389,900

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

StONEY CREEk

$324,900

62 Frederick Ave.

40830 Forks Rd.

134 Benziger Lane

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!

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.

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.

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

$1557 per/mth P&I / O.A.C.

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

NE O R E TH O N A LD O S StONEY CREEk

$309,900

hAMILtON EASt

$419,900

788 Barton Street

295 Nashville Circle

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.

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.

$1238 per/mth P&I / O.A.C.

hAMILtON MtN

$975,000

516-526 Concession Street 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.

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

$1677 per/mth P&I / O.A.C.

E N RO E TH O N A LD O S hAMILtON MtN

$299,900

hAMILtON CtR

$139,900

hAMILtON EASt

$98,500

454 Paling Avenue

58 Robson Crescent

213 Rebecca Street

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.

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.

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.

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

$1198 per/mth P&I / O.A.C.

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October 21, 2013

The Golfi Team Real Estate Market Watch

Page 9

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5 Key Things to ask when Buying a New Home

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any people will buy their first home from a builder, whether it is a detached home, townhouse or condominium unit. Here are the five questions you need to ask to make sure you don’t make a mistake.

What is the builder’s reputation?

This may be the most important research you can do before buying from a builder. Check any prior home/subdivision/condominium project that they have built in the past. Look at the Tarion website under the Licensed Builder Directory, so that you can see how many homes they have built in the past 10 years, whether they have won any awards and the number of complaints, if any, made to Tarion

against them.

Tarion is a private corporation which administers new home warranties in Ontario.

Better still, go visit any prior homes and talk to the neighbours. For example, ask if the builder was diligent in fixing every problem with the home that was identified by the buyer during their predelivery inspection.

Is the builder contract unfair to buyers?

In many ways the contract favours the builder. For example, the builder usually has the right to extend the closing date, change the layout or square footage of your home and also many of the finish-

ings and there is little the buyer can do about it. This can cause real problems if the delay affects your child’s new school year or your employment plans. Again, remember to ask prior buyers if their home was delivered on time, and whether they received substantially what they were promised.

What extra charges will a buyer have to pay?

When you buy a new home or condominium, the price quoted to you in the sales office will be the base price of the home, inclusive of HST. If you order any upgrades, that is extra. In addition, there is now a separate schedule of additional charges that you also have to pay. Some of these are spelled out with an exact dollar figure, such as Tarion Enrollment fees, legal fees, grading deposits, hydro or water meter installations. Other items are more vague, which may relate to levies or development charges which are added by any governmental authority after the agreement is signed. I have seen some cases where these extra charges exceeded six per cent of the original sale price, and the buyers only found out about this a few days before closing. Make sure you get a cap on the total amount of these extra charges. My own rule of thumb is that the total should not exceed 1.5-2 per cent of the original purchase price.

What upgrades does a buyer need?

Builders in general make a lot of profit from upgrades which they offer to

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buyers for finishings in the home.

Here is where you may want the assistance of a professional real estate agent, who will tell you in advance in which rooms these upgrades will make the most difference on any re-sale.

An agent can also offer helpful advice about which lot or unit location and layout will have a higher re-sale value.

Can a buyer transfer the agreement before closing?

When you sign your builder agreement, the home may not be ready for 2-3 years down the road. Things change. Try to negotiate right away the right to transfer your contract to someone else before closing if your circumstances change.

Some builders will not allow it, others permit it for a fee, while some will permit it one time only, for no fee.

Ask the right questions before you buy a home from a builder and you won’t be disappointed later.

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.

Page 10

The Golfi Team Real Estate Market Watch

October 21, 2013

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October 21, 2013

The Golfi Team Real Estate Market Watch

Page 11

Canadian home sales edge higher in September

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ccording to statistics [1] released today by The Canadian Real Estate Association (CREA), national home sales were little changed on a month-over-month basis in September 2013.

Highlights: • National home sales edged up by 0.8% from August to September.

• Actual (not seasonally adjusted) activity came in 18.2% above levels in September 2012.

• The number of newly listed homes declined by 1.4% from August to September.

• The Canadian housing market has tightened but continues to remain balanced.

• The national average sale price rose 8.8% on a year-over-year basis in September.

• The MLS® Home Price Index (HPI) 3.1% year-over-year in rose September.

The number of home sales processed through the MLS® Systems of Canadian real estate Boards and Associations and other co-operative listing systems edged up a modest eight-tenths of one percent on a month-over-month basis in September 2013.

Sales improved on a month-overmonth basis in just over half of all local markets, with gains in Greater Vancouver and Greater Toronto offsetting declines in Calgary and Montreal.

Actual (not seasonally adjusted) activity remained roughly on par with the 10-year average in September. The 18.2 per cent increase compared to year-ago levels reflects weakened activity at that time.

Sales were up on a year-over-year basis in about 75 per cent of local markets, led by gains in Greater Vancouver, Calgary, Edmonton, and Greater Toronto.

“Year-over-year increases in the sales over the past couple of months high-

lights how activity softened across much of the country following the introduction of tighter mortgage rules last summer,” said Gregory Klump, CREA’s Chief Economist.

“While the momentum for sales activity began improving a few months ago, it may be losing steam after having only just climbed back in line with an average of the past 10 years,” Klump added. “Even so, one can see large yearon-year changes when comparing activity to a month like September 2012, when sales dropped to the lowest level for that month in more than a decade.”

Some 340,980 homes have traded hands across the country so far this year.

That stands 1.8 per cent below levels recorded in the first three quarters of 2012.

The number of newly listed homes declined by 1.4 per cent on a month-overmonth basis in September. Slightly more than half of all local markets recorded declines, led by Greater Vancouver, Fraser Valley, Calgary, Greater Toronto, London & St. Thomas, Ottawa, and Montreal.

The small monthly increase in sales activity combined with a decline in new listings pushed the national sales-to-new listings ratio to 56.1 per cent in September compared to 54.8 per cent in August. While the national housing market has firmed in recent months, it remains in balanced market territory where it has been since early 2010. Based on a sales-to-new listings ratio of between 40 to 60 per cent, about three of every five local markets were in balanced market territory in September.

“Sales activity across much of the country has improved in recent months following a slow start to the year and new listings in some areas have not kept pace,” said CREA President Laura Leyser. “Depending on where they are, there may be a bit more competition among buyers for limited inventory in the months ahead. Because all real estate is local, your REALTOR® remains your best resource for understanding how the housing market is shaping up either where you live or might like to.”

The number of months of inventory is another important measure of balance

between housing supply and demand. It represents the number of months it would take to completely liquidate current inventories at the current rate of sales activity. There were 5.8 months of inventory at the national level at the end of September, down from 5.9 months one month earlier. As with the sales-to-new listings ratio, the current months of inventory measure marks a slightly firmer but still well balanced national market.

The actual (not seasonally adjusted) national average price for homes sold in September 2013 was $385,906, an increase of 8.8 per cent from the same month last year. Year-over-year average price gains in recent months reflect the decline in sales activity recorded last year in some of Canada’s larger and more expensive markets which caused the national average price to drop.

If Greater Toronto, Greater Vancouver, and Calgary are removed from the national average price calculation, the year-over-year increase is 4.3 per cent. A better gauge of what’s going on with prices is the MLS® Home Price Index (MLS® HPI), which is not affected by changes in the mix of sales the way that ‘average’ price is.

This month, Victoria and Vancouver Island join the MLS® HPI. The Aggregate Composite MLS® HPI rose 3.13 per cent compared to September 2012, slightly larger than the 2.80 per cent gain in August.

Year-over-year price growth picked up among all property types tracked by

1 All figures in this release except average price are seasonally adjusted.

Removing normal seasonal variations enables meaningful analysis of monthly changes and fundamental trends.

Excerpt from CREA National Statistics The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations, representing more than 106,000 REALTORS® working through more than 100 real estate Boards and Associations.

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This was followed by one-storey single family homes (+3.44 per cent), townhouse/row units (+3 per cent) and apartment units (+1.79 per cent).

Year-over-year price growth in the MLS® HPI was mixed across the markets tracked by the index.

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