September 2015 Issue 114 by The Real Estate Market Watch

WHAT’S INSIDE: Which Season is the Best Time to Sell?

PAGE 9

HOMES FOR SALE | PAGE 4 Hamilton, Stoney Creek, Ancaster, Dundas & Glanbrook LUXURY & WATERFRONT | PAGE 3

HOMES FOR SALE | PAGE 8 Grimsby, Lincoln, West Lincoln & Niagara

September 2015 - Vol 79

HOME EVALUATION NO COST • NO OBLIGATION 905-575-7700

905-945-0188

September 2015

The Golfi Team Real Estate Market Watch

Page 2

MUST SELL • • • •

How to Sell a Home That Didn’t Sell

Estate Sales Bank Foreclosures Company-Owned Properties Distress Sales

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

Free List with Pictures www.HamiltonDistressSales.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

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

Hamilton CtR

StonEy CRk upR

StonEy CRk lWR

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Bungalows/ Raised Ranches Starting at $125,000 31 Available

Bungalows/ Raised Ranches Starting at $249,999 56 Available

Bungalows/ Raised Ranches Starting at $122,900 25 Available

Bungalows/ Raised Ranches Starting at $479,900 6 Available

Bungalows/ Raised Ranches Starting at $299,900 20 Available

Bungalows/ Raised Ranches Starting at $289,900 21 Available

Bungalows/ Raised Ranches Starting at $229,900 18 Available

two Storeys Starting at $209,423 14 Available

two Storeys Starting at $280,000 72 Available

two Storeys Starting at $134,900 103 Available

two Storeys Starting at $290,000 23 Available

two Storeys Starting at $209,900 69 Available

two Storeys Starting at $259,000 32 Available

two Storeys Starting at $349,000 15 Available

Semis & town Homes Starting at $178,900 18 Available

Semis & town Homes Starting at $194,500 41 Available

Semis & town Homes Starting at $99,900 31 Available

Semis & town Homes Starting at $235,000 17 Available

Semis & town Homes Starting at $245,000 27 Available

Semis & town Homes Starting at $239,000 11 Available

Semis & town Homes Starting at $258,800 8 Available

Call Us Today for Information on Any of these Homes!

905-575-7700 • 905-945-0188 Call Today 905-945-0188

September 2015

The Golfi Team Real Estate Market Watch

Luxury Homes & Waterfront Properties

Page 3

Rob Golfi*

WATERFRONT

Waterfront gem!

Beautiful Lakefront Property

Prime lot with scenic views

Romantic waterfront home, this custom built gem in private cul-de-sac features, no lawn maintenance w/private pool & balcony something you see in a travel magazine. Open and inviting floor plan, with large sunny bright window, riparian rights and shore protection in place. 8 Trillium Avenue, Stoney Creek | $998,900

60 by 174 foot lot with steps to the beach. Large master bedroom and 2nd bedroom has been turned into the den. Large open concept living room, eat in kitchen and large space for dining. Lots of windows to enjoy the beautiful view of the lake. In law suite above double car garage. In-ground pool (as is), mature gardens, lots of parking. 47 Lakeside Drive, St. Catharines | $689,900

Over 1 acre scenic lot on Hamilton Mountain with two houses overlooking the city. 170 & 180 Concession Street, Hamilton | $1,880,000

WATERFRONT

Stunning design!

21 Acres - 16 acres vines planted!

Million Dollar View

This 3200 sq.ft. romantic home with dream lot features wide maple staircase with wrought iron, solid hand scraped hardwood floors, wonderful family size custom kitchen with granite counter tops, showcase stone fireplace in family room, in floor heating in bathrooms & more. 400 Hamilton Drive, Ancaster | $1,349,000

Approx 21 acres property with 16 acres of vines planted. Build your dream on lakefront parcel or create your own winery. Can be purchased with adjoining Lakeside Dr property. Great Opportunity! 4921 Sann Road, Beamsville | $1,499,900

Gorgeous freehold features kitchen with granite countertops, duel fuel gas stove, double ovens, built-in microwave, SS appliances. Tavertine floors in foyer, main bath and patio. Hand scraped oak floors throughout, updated athroom w/glass shower & in-floor htg. Large master suite w/walk-in closet & ensuite. Professionally landscaped backyard. 39 Edgewater Drive, Stoney Creek | $899,900

5.11 ACRES

30 ACRES

37+ ACRES

WOW Factor!

Nearly 30 acres along Twenty Mile Creek!

37+acres for horse lovers!

3 bedroom bungalow on 5.11 acres. Large mudroom with entry front/back and into garage. Oversized eat-in kitchen with maple cabinetry, backsplash, built-in buffet, pantry, & island. Master w/ensuite, his/hers closet and walk-out to wrap around porch. Main floor laundry. Finished basement with natural gas FP, dry bar and walk-out. 34 x 60 heated workshop & front/back garage doors. 5921 Sixteen Road, West Lincoln | $599,900

Newly built 2 storey home, with in-law sitting on nearly 30 acres. 3 bedrm home w/ open concept living, 1 bedrm in-law w/ basement rec rm. Original barn, 43x24 ft garage/workshop & office. Property borders Twenty Mile Creek, beautifully picturesque. 4426 #6 Regional Road, St. Anns | $849,900

Dream hobby farm for horse lovers! Scenic 37+ acre property w/lrg home, barn (4 'soft mat’ stables), & run-in. Close to HWY access & city conveniences. Beautiful eat-in kitch, living rm w/wood stove, lrg foyer, 3 BRs & many extras. 2832 Glancaster Road, Ancaster | $824,900

WATERFRONT

21.3 ACRES

Views of the Canadian and US shores

Stunning design!

Circa 1864 Manor!

5 bedroom home on the most prestigious street in Niagara Falls includes in-law w/nanny suite, in-ground pool, sunroom w/built in hot tub, landscaped yard w/sprinkler system, eat in kitch, family room w/wood fireplace. Updates: roof ‘12, Furnace ‘13, AC in in-law suite, Water pump 14, interior & exterior painted in ‘12. 10185 Niagara River Parkway, Niagara Falls | $819,900

Beautifully restored country manor with addition on 21.3 acres bordering Beamer Falls and the Bruce Trail. This classic red brick home is located 5 minutes from Grimsby’s town centre. Call for details. 140 Ridge Road, Grimsby | $1,289,900

www. GolfiTeam .com

Page 4

The Golfi Team Real Estate Market Watch

September 2015

Hamilton, Stoney Creek Ancaster, Dundas & Glanbrook

Rob Golfi*

WATERFRONT

Fabulous Find

Opportunity Knocks!

Million Dollar View

Prestigious 3 acre lot with a 230 ft. frontage and 550 ft. deep, build any size home you want. Existing home upgrades include windows, roof, furnace, air conditioning, siding drilled well and electrical all within the past 10 yrs. Property also has cistern but not used at the present time. 19 Elodia Court, Hamilton | $637,900

Fantastic opportunity to own a 12 unit apartment building. Windows & Furnace updates. 6-1 bedroom and 6-2bedroom units. Separate meters. Tenants pay hydro. 3-7 Connaught Avenue S., Hamilton | $989,000

3+1 Bedroom Backsplit

Sought after Ancaster Location

In-Law Potential!

Beautiful family home in desirable area. Hardwood floors, ceramic, granite counter top, fully finished lower level with fireplace and full bath plus separate side entrance. Separate dining room with sliding doors, updated bathrooms, large double driveway. Most windows last year, roof apprx. 3yrs old. 1081 Upper Sherman Avenue, Hamilton | $359,900

Steps to the park, this 4 bedroom fully finished home has over 2600 sq.ft. of living space. Large kitchen with SS appliances, granite counters and eat-in breakfast bar. Custom hardwood floors on main, showcase gas fireplace, and french doors leading to professionally landscaped yard. New bamboo flooring in bedrooms. Master and main bedroom have custom California closets with built in cabinets. 50 Yr Shingles 2014. 42 Kendrick Court, Ancaster | $519,000

Charming bungalow in quiet Riverdale community, features finished basement great potential for in-law suite, mostly updated vinyl windows, updated shingles, updated furnace and central air, hardwood floors, garden doors leading to completely private resort style backyard. 9 Keats Road, Hamilton | $379,999

Large Well Cared for Home!

Commercial Corner Location

Fantastic Opportunity!

Finished bsmt with rec room and gas fireplace, bdrm and bathroom. Main flr 2 bdrms with recent hardwood. Eat-in kitchen and bathroom. 2nd floor bathroom with two bdrms or bdrm/family room. Big drive w/detached garage. Most windows replaced. Shingles 2013, furnace 7yrs, A/C 2 years. Nice location minutes to Red Hill, walk to schools and park. 7 Craigroyston Road, Hamilton | $299,900

High Traffic corner location. Established Bowling Alley (5-pin, 2-levels) currently. Rear parking plus municipal. May be assembled with 418 Guelph Line for apx. 1 acre of land on busy corner. Do not go direct. Contact LA for details of assemblage. 422 Guelph Line, Burlington | $1,850,000

2 bedroom bungalow with almost a 100 ft. frontage. Home can use some TLC. Garage has no value, but there is value in the land. Presently rented on a month to month basis. Tenant pays $920.00 per month plus utilities. Currently zoned M3 many possibilities for the new buyer. 1217 Barton Street, Stoney Creek | $324,900

Freehold Newport Yacht Club

Beautiful Century Home

Great investment opportunity!

Luxury Townhome to the Lake. Main floor offers open concept with sliding doors to the patio, gleaming hardwoods floors throughout, with showcase fireplace, fully finished basement, beautifully landscaped front and back, new shingles 2008. A must see! 82 Edgewater Drive, Stoney Creek | $449,900

Beautiful 4463 sq.ft. home on oversized lot, circa 1893. New roof ‘15, laundry 2014, 2nd flr bathroom ‘14, glazed tubs ‘14, attic bathroom 2014. Features HW floors and 10ft ceilings. Updated plumbing. 57 new windows ‘07, updated kitchen ‘07, new solid oak Scarlet Ohara staircase ‘07, in-law suite, dry ubnspoiled basement, parking for 6. $12,000 imported boiler. 168 Holton Avenue S., Hamilton | $699,900

Three bedroom home ready for some TLC touches, features new furnace, central air-conditioning and soft water system. Walking distance to Center Mall and easy access to QEW. 32 Bayfield Avenue, Hamilton | $149,900

Call Today 905-575-7700

September 2015

The Golfi Team Real Estate Market Watch

Hamilton, Stoney Creek Ancaster, Dundas & Glanbrook

Page 5

Rob Golfi*

Updated top to bottom

Investment Opportunity!

The word “Plateau” is in its namesake

Beautifully updated 3 bedroom side split located on large corner lot (206.8’ x 180.27’) on desirable mature court. Tranquil setting with conveniences of location minutes to highway access and all amenities. Updated top to bottom, inside and out with tasteful finishes and fine craftsmanship you will not be disappointed. 69 Hopkins Court, Dundas | $559,900

Well kept 2.5 storey. Tenant on first floor has the use of basement, first and second floor (pays $825.00 + 80% of utilities). 3rd floor Tenant ($600.00 utilities included) is nicely done with a kitchen, bedroom, bathroom. Month to month and main floor tenant has been there 7 years. 37 Gibson Avenue, Hamilton | $199,900

Custom home built on half acre lot. Fully finished basement w/second kitchen, 2 cold cellars & walk out, oversized Barzotti kitch w/sliding drs leading to pool sized fenced lot, sunken family room, dining rm large enough for any size family. 36 Hilts Drive, Stoney Creek | $739,900

Perfect for Large Family

Shows 10++

Prime lot with scenic views

Immaculate custom built home in lower Stoney Creek. 3300 sq.ft. Perfect home for lrg family. Features 4+2 BRs, 4 baths, lrg eat in kitch w/walk-out, ceramics & hardwd throughout, sep dining rm, sunken family rm, den, in-law suite in bsmt w/ sep entrance, dble garage, oversized lot. 4 Hewitson Road, Stoney Creek | $739,900

Beautiful garden and rear deck w/a walk-up from the Bsmt. & walk-out from the kitchen. Must be seen! Great Location, easy to get to shopping and Transit. Everything has been updated, 2 new full baths! Move in and relax! Weeping tile, windows, wiring, shingles (2011). 655 Upper Wellington Street, Hamilton | $249,900

Over 1 acre scenic lot on Hamilton Mountain with two houses overlooking the city. 170 & 180 Concession Street, Hamilton | $1,880,000

Trendy Beach Blvd.

Gorgeous Condo!

Walk to New Stadium!!

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. 1085 Beach Blvd., Hamilton | $849,900

Old meets new w/all the modern upgrades, granite counters, marble in bathroom, Cathedral cabinets in kitchen w/Crown moulding & under mount lighting, glass tile backsplash, island, stainless appliances, private balcony. Hardwood & ceramic throughout. Access to rooftop terrace at 86 Herkimer. 2-260 Bay Street South, Hamilton | $349,900

Same Tenant long term. Need 24 hour notice for showings. Tenant pays $700 month and all utilities, no lease.Third floor would make a great family room or another bedroom. Tenant will leave w/90 Days notice. 752 Cannon Street E., Hamilton | $149,900

WATERFRONT

Stunning design!

Waterfront gem!

Build any size home you want.

FABULOUS FIND - Prestigious 3 acre lot with a 230 ft. frontage and 550 ft. deep. Existing home upgrades include windows, roof, furnace, air conditioning, siding drilled well and electrical all within the past 10 yrs. Property also has cistern but not used at the present time. 764 Fiddler’s Green Road, Ancaster | $499,900

www. GolfiTeam .com

Page 6

The Golfi Team Real Estate Market Watch

September 2015

“We sell more ... because we DO more!”

GOLFI TEAM SALES I

#1 IN HA

10 Elsa Ct.

23 Fairview Rd.

17 Lakeview Ave.

56 Picton St. W

STONEY CREE

4123 21st St.

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Get yo 242 Mountain Rd.

#58 - 515 N Service Rd.

726 Scenic Dr.

MARKET ACTIVITY i RAHB Areas – Aug 4933 Alexandra Ave.

13 Beechwood Ave.

Number of Sal

223 Braithwaite Ave.

Areas

13 Breadalbane St.

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2 Fieldgate Dr.

4469 Garden Gate Terrace

74 Golden Acres Dr.

1833 Governors Rd.

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Hamilton West Hamilton East Hamilton Centre Hamilton Mountain Burlington Ancaster Dundas Flamborough Waterdown Stoney Creek Grimsby Glanbrook Dunnville Caledonia

2014

2015

35 87 91 176 242 50 29 25 33 94 38 33 13 10

39 72 105 179 263 60 25 30 20 86 37 52 11 18

Note: Numbers of sales represents sales reported o (MLS®) of the REALTORS® Association of Hamilton-B dividing the total dollar volume of sales (not shown)

Call Today 905-945-0188

September 2015

SHARON StAFFORD

HANS MARCELISSEN

wENDY MURRAYNICHOLSON

The Golfi Team Real Estate Market Watch

MIKE MCNEIL

DAN GOLFI

JEFF GOLFI

LAURA BIELAK

JENNIFER DRAHO

HANK BALFOORt

ASHLEY SIDLER

ALLISON PARK

CAtHERINE wELLMAN

Page 7

LISA BOtELHO

MICHELLE HORvAt

SEAN HARtLEY

BINDA tRAvER

BROKER OF RECORD

N THE PAST 60 DAYS

AMILTON, EK & NIAGARA

REE Home aluation

24 Heathcote Ct.

1489 1/2 #8 Hwy

70 Julian Ave.

106 Lake Avenue Dr.

24 Lakeshore Dr.

184 Lavina Cres.

#803-1270 Maple Crossing

25 Montrose Ave.

33 Moxley Dr.

10 Peachwood Cres.

213 Rebecca St.

28 Roanoke Rd.

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9 Winona Park Rd.

47 Bisset Ave.

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209 Grosvenor Ave. N

174 Cedardale Ave.

#9 - 20 Niagara St.

62 Peach Tree Lane

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our home sold Fast!

05.945.0188

in Selected gust 2015

les

Average Sale Price 2014

9 2 5 9 3 0 5 0 0 6 7 2 1 8

356,287 $ 221,998 $ 209,606 $ 297,808 $ 512,418 $ 540,883 $ 401,355 $ 459,675 $ 432,903 $ 370,704 $ 360,523 $ 373,013 $ 208,415 $ 336,090 $

2015 327,108 $ 252,513 $ 234,798 $ 326,346 $ 565,045 $ 627,079 $ 467,936 $ 571,394 $ 523,825 $ 393,400 $ 492,060 $ 433,507 $ 263,736 $ 306,467 $

on properties listed on the Multiple Listing Service Burlington. Average sale price is calculated by by the number of sales in that month.

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Page 8

The Golfi Team Real Estate Market Watch

September 2015

Grimsby, Lincoln West Lincoln & Niagara

Rob Golfi*

Bulding Lot Rare Find

Great investment opportunity!

WOW Factor!

Fantastic opportunity to build your dream home on this 65.62 x 111.32 ft. lot! fully serviced with sewer and water to lot line. Buyer pays town, regional charges plus building permit. Quick access to QEW beautiful views of Niagara Escarpment. 5 Muscat Drive, Grimsby | $249,900

Fantastic 3 + 4 bedroom home with many updates including fresh neutral decor, shingles and furnace 2 years new. Siding, eaves and facia 2 years new. Close to schools, parks and all amenities. 11 Tara Crescent, Thorold | $224,900

49 ACRES

2.2 ACRES

5.5 ACRES

49 Acre hobby farm, 30 acres are bush

Country Living

602 ft Frontage

This property features a 35x55 ft. galvanized steel barn, large parking or truck yard with stone and asphalt grindings on top, large 42 ft. drilled well plus Cistern, 3 level side split with large family room addition built in 1968, and high basement. Needs a little bit of work to get it looking lived in again. Available for immediate occupancy. 7683 Young Street, West Lincoln | $449,900

5 minutes to everything! Fantastic home on 2.2 acres of picturesque land minutes from new hospital & shopping. 2+3 bedroom home with 4 full bathrooms, large all-season sunroom, 2 kitchens, 2 living rooms and 2 dining rooms. Inground pool and multi-level deck. Circular drive with double garage with separate workshop. Lots of opportunities! 3985 15th Street, Jordon Station | $599,900

Zoned light industrial and commercial with 5.5 acres and 602 feet of frontage on Durham Rd. 23 Durham Road, Beamsville | $989,900

21.3 ACRES

Great Opportunity for Country Living

Circa 1864 Manor!

Country home on an acre lot w/a waterfall pond & gazebo in backyard. 2 sheds, double garage with 9 car parking & stamped concrete. Main flr master BR w/his & her closets & ensuite w/new shower. Custom kitch, ceramic flrs & hrdwd. 2nd flr w/loft & 3 bedrooms. Fin. bsmnt w/theater/games rm/gym & bath. 2281 Silverdale Road, West Lincoln | $499,900

Beautifully restored country manor with addition on 21.3 acres bordering Beamer Falls and the Bruce Trail. This classic red brick home is located 5 minutes from Grimsbyâ&#x20AC;&#x2122;s town centre. Call for details. 140 Ridge Road, Grimsby | $1,289,900

BUILDING LOT

WATERFRONT

Business Opportunity - RM2 Zoning

Lakefront with 16 acres of vines already planted!

Âž acre site centrally located in the 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. Lot #201 Academy Street, Beamsville | $369,900

Approx 21 acres property. Build your dream on lakefront parcel or create your own winery. Can be purchased with adjoining Lakeside Dr property. Great Opportunity! 4921 Sann Road, Beamsville | $1,499,900

99.39 ACRES

Brick Victorian on 99.39 acres of very productive farm land 70 acres workable & 30 acres of bush, large 2.5 storey 4 bedrm brick Victorian farm house with large barn & workshop. New cistern 3yrs, new septic 1 yr, shingles & furnace 4 yrs. Possible 4 acre severance available call for details. 489 Kemp Road West, Grimsby | $725,000

29 ACRES

Own your own vineyard! Approximately 28 Acres Parcel with 24 acres of vineyard planted. 6 Acres-Sauv Blanc, 6 Acres-Gamay, 5 Acres-Cab Sauv, 5 Acres-Merlot, 1 Acre-Chardonnay, 1 Acre-Sauv Coronation. Home has had some interior updates & new 3500 gallon cistern. 4266 Greenlane, Beamsville | $1,199,900

Call Today 905-945-0188

September 2015

The Golfi Team Real Estate Market Watch

Page 9

Which Season is the Best Time To Sell?

alk to any real estate agent, and they will tell you that there are certain seasons that are more favorable to sell your home than others. Often, the best time to list and sell a single family detached home is in the spring, followed by early to mid fall. Most families want to make the purchase of their home and complete the transaction before the summer months, when the kids and family are on summer vacation. Parents are keenly aware that school registrations need to be dealt with -- and who wants to be loading a moving truck in the middle of August? Sensibly, spring also offers the best time of year to showcase your home. After a long winter, the first hints of cherry blossoms and crocuses seem to trigger the “moving bug” in many people. Gardens tend to look their best in fresh bloom, when the leaves are on the trees. Homes appear more appealing when the weather is warming up and buyers tend to be in high spirits. It’s also usually easier to get your home ready for sale at this time of year -- from painting inside or out, to the simple ability to keep the house cleaner without the winter muck being traipsed throughout every time someone walks through the front door. Just remember, when you

sell at the busiest time of the year you will face more competition, so make sure your home shows at its best! If you’re selling anything over a certain price (and that depends on where you live -- but we’ll say anything in the top 20% price range of your community), expect the summer months to be particularly slow. Expensive homes require buyers with big pockets -- and where are they in the summer? Most likely away on vacation, not looking for a home….so that’s where the early to mid fall selling season comes in. Fall is considered the next best time to list your home on the market– especially if it's a nice long Indian summer. Linked to the “back to school” mentality, with the leaves turning fabulous colors and nice cool crisp temperatures, you’ll have another good shot at selling a family home -- often to someone who’s already in your neighbourhood. That being said, be prepared to keep up that curbside appeal as the weather changes. Some properties will sell at any time of year -- such as those aimed at first time home owners, especially condominiums and town homes. Often these buyers are not faced with the constraints of school catchments, and are much more interested in amenities like underground

parking, recreation facilities and the nearest coffee shop. These buyers are happy to shop at any time of year, so sales will often be a bit steadier throughout. Vacation properties always do their best in the spring and summer months, because that is when buyers visit these destinations. They benefit from the fact that vacationers will actually be where these listings are, and not just looking at pictures online or in a brochure. It’s also hard to imagine water skiing when the temperature is hovering at zero and the cottage for sale has had the water and power shut off for the season. Having said this, there really is no wrong time to list your home, because if you price your home right, and make every effort to present it in a superior way, chances are you will sell your property in a timely manner. However, if you find that you have to list in December because of a change in career or what have you, remember to be realistic. The holidays in particular can be the hardest time to sell, when everyone’s minds are on other things. Don’t be frustrated though -- you never know. After all, one of my listings sold last year on Christmas Eve. By Sarah Daniels, HGTV Canada

Seller Property Information Statements: What you need to know…

hile seller property information statements 3. What are the legal implications? (SPIS) are not required by law, there are certain SPIS have attracted significant judicial consideration in legal implications that investors and real estate recent years. agents should be aware of. Commercial lawyer Matt The law in Ontario relating to SPIS was settled by the Maurer answers a range of questions about the statements Court of Appeal in 2011. In short, where the seller completes a SPIS it is assumed that the seller intends that While seller property information statements (SPIS) are the SPIS will be disclosed to prospective buyers to use not required by law, there are certain legal implications to inform their decisions respecting the purchase. This that investors and real estate agents should be aware of. creates the relationship necessary in law to hold a seller Commercial lawyer Matt Maurer answers a range of queslegally responsible if the information contained in the tions about the statements. SPIS is wrong, either through negligence (carelessness) or fraud (deliberately), notwithstanding the large dis1. What is a seller property information statement? claimer that appears at the beginning of the SPIS. A SPIS is a standard form document that was drafted by In a recent decision, the transaction was made condithe Ontario Real Estate Association. It will contain tional on a home inspection and financing (but not a information relating to defects, renovations and other SPIS). The agreement also contained a standard entire pertinent property information based on the seller’s agreement clause. However, two days after the agreeknowledge and experience. ment was signed the buyer asked the seller to complete a SPIS and the seller obliged. The SPIS created an obli2. Is completing a SPIS mandatory? gation on the seller not only to disclose existing information but also to notify the buyer of any changes to No. Sellers are not required by law to complete a SPIS. the information contained in the SPIS prior to the closHowever, according to the Real Estate Council of ing date. Ontario, once a seller has completed a SPIS their broker or agent is required to tell all potential buyers of its The seller indicated on the SPIS that the house had not existence. Additionally, if the buyer makes their offer experienced any flooding. After the SPIS was delivconditional on a SPIS, then from a practical perspective ered, but prior to the closing, there was flooding in the the seller either has to complete one, or not sell to that house. The seller failed to inform the buyer and the particular buyer. buyer ended up suing the seller after the closing when the buyer discovered the flooding issue. The court ruled

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in favour of the buyer and held that the SPIS and the obligation to make ongoing disclosure trumped the entire agreement clause found in the agreement itself. 4. What are the implications for agents? Agents representing the seller are under an obligation to guide the client through the form and to provide specific warnings about the implications of completing a SPIS and the importance of ensuring that answers are complete and accurate. These warnings are to include the fact that by completing a SPIS the seller may be providing information to potential buyers that they are not legally otherwise required to provide. In conclusion Prudent buyers should, at the very minimum, ask the seller to complete a SPIS, and prudent vendors should avoid voluntarily completing a SPIS without the buyer specifically asking for one. If the buyer makes the request, the seller is under no obligation to do so. The seller’s decision as to whether or not to complete a SPIS at that point will likely depend on the condition of the house and the state of the local market. Matt Maurer practices commercial litigation at Minden Gross LLP in Toronto. He regularly advises property investors and real estate professionals in all aspects of their businesses and specializes in dispute resolution. He can be contacted at 416-369-4322, mmaurer@mindengross.com.

Page 10

The Golfi Team Real Estate Market Watch

September 2015

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:â&#x20AC;&#x2C6;905-527-0774

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Crossword Solution

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

September 2015

The Golfi Team Real Estate Market Watch

Page 11

Almost half of homes in New York and D.C. now losing value Almost half of single-family houses in the New York and Washington metropolitan areas are losing value, a sign that buyers’ tolerance for high prices in many large U.S. cities may be reaching a limit. The values of 45 per cent of houses in both the Washington and New York areas slumped by at least 2 per cent in June from a year earlier, according to a new index created by Allan Weiss, cofounder of the Case-Shiller home price indexes. In June 2014, only 15 per cent of Washington residences dropped in value, while 20 per cent fell in New York. Because the index is of only single-family homes, it doesn’t include Manhattan. More properties also were in decline in Los Angeles, Chicago, Phoenix and Miami. A steady rise in U.S. home prices since the bottom of the market combined with weak income growth has made housing less affordable, especially in big cities. Credit remains tight and demand is now being driven primarily by buyers dependent on mortgages, as foreign buyers and investors pull back from the market.

“What happens in any bull asset bubble such as what we’ve seen is you run out of buyers,” said Chris Whalen, senior managing director at Kroll Bond Rating Agency Inc. and an adviser to Weiss. “It’s hard to get deals done if the bottom third can’t get a mortgage.” Weiss, founder and chief executive officer of Weiss Residential Research LLC, based in Natick, Massachusetts, introduced his repeat-sales index last year. It provides a value for every home in the markets the firm covers based on similar homes that sold nearby. While an average home in a city may be rising, many homes within the area may be losing value instead, he said. A larger share of homes with declining values could be an early warning that the market may be in danger, he said. “If you have a market where every house is rising and you hear the news that the housing market is up, you’re correct in applying it to your own home,” Weiss said. “However, if you are in a market where 60 per cent of houses are rising, you have a 40 per cent chance of misunderstanding what’s going on with your house.”

Mortgage Amount

$200,000 $220,000 $240,000 $260,000 $280,000 $300,000 $320,000 $340,000 $360,000 $380,000 $400,000

Monthly Payment

Bi-weekly Payment

$651.55 $716.70 $781.86 $847.01 $912.17 $977.32 $1,042.48 $1,107.63 $1,172.79 $1,237.94 $1,303.09

$300.59 $330.65 $360.70 $390.76 $420.82 $450.88 $480.94 $511.00 1.85% $541.06 $571.11 $601.17 Purchase Financing available OAC

As of September 2015 OAC

”

Thanks Expert Mortgage!

C.S.

PURCHASE FINANCING AVAILABLE OAC

Crossword puzzle (Solution on Page 10)

SUDOKU 5 8

8 9

3 1

2 6

6 4 7 5 2 3 9 1 8

8 5 4 3 6 2 1 9 7

2 9 6 7 1 8 3 4 5

7 1 3 4 9 5 2 8 6

13 14 16 17

9 2 5 8 4 1 6 7 3

14 15 19 20 21

6 7 11

the Solution 1 3 8 6 7 9 5 2 4

Freed from anxiety (8) Painter of The Scream, d. 1944 (5) Rumour (7) Mark left on the flesh by a whip (5) Gore Hun (anag) (7) Gooey muck (4) Lay members of a male religious order (8) Questionable (7) Hunting cry (5-2) Crisp flat unleavened bread (5) Stretch of a river between two bends (5)

www. GolfiTeam .com

5 6 2 1 8 4 7 3 9

2 3 4 5

Right away (4,3,4,2) Open pastry filled with fruit (4) Acceptable competence (8) Old Testament patriarch (very old when he died!) (10) River linking Greater Manchester and Liverpool (6) Neuter (anag) (6) Resemblance (10) Without a word (8) Well ventilated (4) Very little (4,2,7)

3 8 9 2 5 7 4 6 1

Down

1 8 9 10

4 7 1 9 3 6 8 5 2

Across

4 7

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 12

The Golfi Team Real Estate Market Watch

September 2015

Golfi Team Feature Home Rob Golfi*

140 Ridge Road West, Grimsby

lassic Victorian manor with a 3100 sq foot addition sits pristinely on 21.2 acres bordering Beamer Falls and the Bruce Trail. The original home has been fully restored keeping the originality of days gone by. The 21 acres includes approximately 1 acre of grapes, 1 acre of pears, 13 acres of plantable field, with the home situated amongst forest. Lounge by the in-ground heated pool or relax in the hot tub perched two stories up with fabulous views. This beautiful home features 7 bedrooms all complete with full ensuite, dining room perfect for a table for twenty, separate garage and large workshop. All systems servicing the home have been smartly updated to recent standards. This home and property affords plenty of opportunity to generate income. Historical Home Circa 1864: 21.2 acres with: • 13 acres of field • 1 acre of grapes • 1 acre of pears • balance is treed property Tranquil and quiet spaces are available at every turn should you want to escape to your own little piece of heaven. Enjoying a hot tub in the middle of winter, sitting on the verandas with a loved one, taking a dip in the pool, walking the grounds with its Weeping Willows and Pine Trees. Bedroom Level Features: • Large Bedrooms • Full Ensuites with each Bedroom

• Original Flooring • 12” Baseboards This home features 6+1 bedrooms all complete with their own ensuites. The newer part of the home has two upstairs bedrooms overlooking the back of the property. The older part of the home finds large comfy original rooms that are bright and airy. You will also find one of the suites has an engaging walk out to the upper veranda with the enjoyment of a hot tub and a winding staircase to the lower level for easy access to the rest of the outdoor amenities. Some of the bedrooms are connected with a quiet den perfect for rainy afternoons and enjoying a good book. Great Room Features: • Cathedral Central Ceiliing • Barnboard Finishing on Some Walls • Slate Hearth • Reclaimed Brick From Mantle to Ceiling • 2 Walkouts to Garden Patio, Covered Verandas The addition of the great room is perfect for large parties or perhaps seating an oversized dinner party. If the kitchen is the heart of the home, this is certainly a well deserved part of that heart. Dramatic with soaring reclaimed brick woodburning fireplace open to the bedrooms above and lined with barnboard. Stunning with large windows and entrances all around to garden patios and covered verandas. Dining Room/Sitting Room/Foyer: • 150 Year Old Pine Plank Flooring • 12” Baseboards • Period Railing

Step inside and see how the privileged lived in the 1800’s. Enter into the majestic foyer with 10 foot ceilings, center hall leads to the dining room perfect for 20 family and friends to enjoy an elegant dinner. On the opposite side of the hall a large sitting room for formal gatherings. Both formal rooms have doors leading to the covered verandas for a breath of fresh air. Country Kitchen Features: • Elmira Stove Works Appliances • Dry Sink Fitted with Copper Basin and Faucet • Original Cabinetry • 150 Year Old Pine Plank Flooring Truly the heart of the home. Original features in this warm kitchen are the 150 year old pine plank flooring, trim and some of the cabinetry. Newer cabinetry has been styled to seamless perfection. Elmira Stove Works top of the line appliances, antique dry sink fitted with copper basin and faucet and bead board finishes enhance the feeling of yesteryear. Doors leading to side verandas beg for a cool drink on a warm summer evening. Back Yard Oasis: Enjoy a swim in the enticing Boldt pool. The kidney shaped pool was installed in 2007 and comes complete with a heater (never been used). Finished with concrete, stonework and enclosed with wrought iron fencing, this pool area has easy access to the kitchen and patio with barbeque.

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