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MarketWatch September B 2012 13/09/12 4:56 PM Page 1

September 18, 2012 - Vol 43a

P R E S E N T E D

B Y

T H E

Rob Rob Golfi Golfi Sales Sales Representative Representative

HOME EVALUATION NO COST • NO OBLIGATION

905-575-7700 • 905-945-0188

G O L F I

T E A M


MarketWatch September B 2012 13/09/12 4:56 PM Page 2

Page 2

The Golfi Team Real Estate Market Watch

September 18, 2012

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. 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 President’s Club, 100% Club, Platinum Club, Chairman’s Club, Hall of Fame in 2003, the Lifetime Achievement Award in 2006, his SRES® designation in 2009 and the Diamond Club Award in 2010. 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 5 of nearly 2,000 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. -Å

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The Solution 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.

RAFFI ANDERIAN ILLUSTRATION/TORONTO STAR

Older Condos Face Repair Bill Woes There are more than 7,000 condominium buildings in the GTA and some are more than 40 years old. By a conservative estimate, more than 25 per cent of these buildings are in trouble, meaning there is not enough money in the reserve fund to pay for necessary repairs. Manzoor Khan, the CEO of Channel Property Management, which manages 41 condominium corporations in the GTA, has a story that illustrates the problem. In 2008, he was approached by the board of directors of a 40-yearold building in Etobicoke that had very little money in its reserve fund but needed $1.2 million to fix the boilers and the water supply system, repair balconies and update the party room, hallways and laundry room. The building had 209 units worth $90,000 on average. The owners would have had difficulty paying the required special assessments and would not have been able to individually pay for the repairs. That’s why they turned to Khan. He recommended three financing firms to the board. One of them, Morrison Financial, run by lawyer David Morrison, put together a loan package that the owners could afford to carry. Morrison was able to keep the average monthly payment per unit for the loan to $120, less than half the cost if it had been financed through a special assessment on owners. After the work was completed, the average price for the units rose by as much as $40,000. The loan will be paid off in five years. This is an example of why condominiums need the advice of professional property managers.

www. GolfiTeam .com

Almost 40 per cent of GTA buildings do not have professional managers. One reason is that there is a shortage of qualified managers. Another is some buildings can’t afford it. A professional is someone who has received the designation of registered condominium manager from the Association of Condominium Managers of Ontario (ACMO). The designation includes courses, two years’ experience and adherence to ACMO’s code of ethics. Another reason buildings fall apart is that even when the board wants to make needed repairs and sends out special assessment notices, other owners who disagree gather enough votes to remove the board and install a new one that cancels the assessment. It takes 51 per cent of owners to replace the board. The long-term result is that the units in these buildings lose value and scare off potential buyers. For all condominium buildings, make sure you have professional property management, listen to their advice when repairs are recommended and make sure the repairs are done in a timely manner. For buyers of resale condominiums, make sure you review the reserve fund study for the building to make sure there is enough money to pay for needed repairs before you commit to any purchase. And if you are thinking about a new career, why not managing condos? There is a real need right now. Mark Weisleder is a lawyer, author and speaker to the real estate industry. Email mark at mark@markweisleder.com

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MarketWatch September B 2012 13/09/12 4:56 PM Page 3

September 18, 2012

The Golfi Team Real Estate Market Watch

Page 3

Facts About the GOLFI TEAM… 3 Over $60 Million in Sales Annually** 3 #1 Real Estate Office in Hamilton-Burlington* 3 Amongst the Top Sales Reps in Ontario** 3 Ranked Top 50 Teams in Canada for ** 3 Ranked Top 100 Teams world wide**

1998

Rob Golfi Sales Representative

2003

2003

2006

2010

OVER $460 MILLION IN REAL ESTATE SALES *#1 Brokerage in the Realtors Association of Hamilton Burlington MLS from 1994 to 2010 consecutively. **Year End Standings for 2010, based on residential commissions paid. Rankings are compiled from figures submitted by regional offices.

Rob Golfi

Sharon Stafford

Sales Representative

Mike McNeil

Sales Representative

Hans Marcellissen

Heather Reid

Sales Representative

Sales Representative

Kristina King

Sales Representative

Wendy Murray-Nicholson Sales Representative

Sales Representative

Vince Lazaruk

Sales Representative

Rosemarie Fournier Listing Co-ordinator

Together Delivering More...

HOME EVALUATION NO COST • NO OBLIGATION

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


MarketWatch September B 2012 13/09/12 4:56 PM Page 4

Page 4

The Golfi Team Real Estate Market Watch

September 18, 2012

Grimsby, Lincoln West Lincoln & Niagara

Rob Golfi*

GRIMSBY $349,900 39 Mountain Street

jORDAn $547,000 2869 Prince William Street

GRIMSBY $1,089,900 327 Church Road

BeAMSvIlle $241,900 4571 Leawood Court

LEGAL DUPLEX – In the core of Grimsby! Rare find, this beautifully maintained 2 self-contained: 2 BR & 3 BR units, sitting on 84x106 ft. lot, 2 new furnace & c/air 2006, all updated vinyl windows 2010, new shingles 2001, & a professionally finished basement.

Full of Charm & character – this triplex is ideal for the investor or buyer to live for free, sitting on large lot in in the heart of Jordan Station, features hardwood floors, Cathedral ceilings, includes 3 kitchens and 4 bathrms, quick access to QEW.

CUSTOM BUILT SPRAWLING BUNGALOW – 3300 sq.ft. sitting on 72 acres of privacy plus 30x75 ft. heated work shop. Features cherry kitchen with granite counters, gorgeous hardwood floors, main floor den, finished recroom, spacious sunroom overlooking yard w/park like setting with in-ground pool.

Huge pie-shaped lot! Updated semi on a court location. Walkup from basement to side yard. New driveway (’12), furnace/AC, front windows, 2 exterior doors (’11), laminate flooring (’10), Carpet, and updated downstairs bathroom (’09).

$1397.56 per/mth P&I / O.A.C.

$2184.81 per/mth P&I / O.A.C.

$4353.24 per/mth P&I / O.A.C.

$966.19 per/mth P&I / O.A.C.

NE O R THE O N DA SOL GRIMSBY $849,900 2 Shoreline Crescent

GRIMSBY $599,900 23 Riesling Street

LAVISH FROM TOP TO BOTTOM - Elegant home on Lakeside Crescent. The new owner will reap the benefits of this over improved custom reno’d home w/waterfront views. Features entrance w/marble floors, designer kitchen w/oak cabinets, granite counters, stone backsplash, cherry hardwood floors.

LUXURIOUS HOME BACKING ONTO ESCARPMENT Features maple kitchen with granite countertops, beautiful hardwood, 2 storey great room with palladium windows and 3-sided gas fireplace, hardwood floors.

$3394.64 per/mth P&I / O.A.C.

$2396.10 per/mth P&I / O.A.C.

D SOL GRIMSBY $414,900 152 Sumner Crescent

vInelAnD $249,950 3380 Tallman Drive

BeAMSvIlle $399,900 4841 John Street

Large 4+1 BR family home feat. a lrg eat in kitch, LR, beautiful dream bathrm w/jacuzzi tub, glass shower & dble sinks, recrm, ldry, & storage area. Single attached garage & a fully fenced rear yard. Perfect for the growing family. Quick HWY access & along the wine route

NEW HOUSE BUT BETTER! Features 9’ ceilings, gorgeous open stair case, wonderful family size kitchen with 8ft patio and sliding doors leading to 12x24 ft deck with hot tub and fence yard, oversized family room with showcase gas fireplace, and finished basement.

$1247.93 per/mth P&I / O.A.C.

SOlD

ONE R E TH ANO

GRIMSBY $324,900 69 Colonial Crescent

BeAMSvIlle $262,900 4887 Adam Court

GRIMSBY $459,900 23 Tunbridge Crescent

DAZZLING 2 STOREY! 3 yrs. new former Losani model home 4 bedrms 2100 sqft., features fantastic open concept flr plan, gorgeous hardwd in living & dining rm, dream kitchen with ss appliances, glass back splash & custom Barzotti cabinetry, rounded corners, & oak staircase.

GREAT VALUE! Large 4 level backsplit finished on all levels. 3+1 bedrooms and two full bathrooms. Perfect for the growing family. Large eat-in kitchen leading to the backyard that is fully fenced in.

FREEHOLD TOWNHOUSE. Immediate possession for this stunning 3 bedroom townhouse. Nicely appointed with hardwood, ceramics, dark maple cabinetry and generous backyard. Close to parks, shopping and highway access.

9 year old One Floor Beauty. Open concept home features hrdwd, cer & carptd bed. Main flr family room with walkout to fenced in back yard with spacious deck. Basement is professionally finished with oversized recroom, bathroom, bedrooms & office space

$1657.18 per/mth P&I / O.A.C.

SOlD

$1050.07 per/mth P&I / O.A.C.

1836.92 per/mth P&I / O.A.C.

ONE R E TH O N DA SOL

NE O R THE O N DA SOL GRIMSBY $259,900 59 Sandra Crescent

GRIMSBY $479,900 288 Kemp Rd. W

Wow! Great Value! 3 bedroom, 2 storey home backing onto park, finished on all levels. Many updates include kitchen(‘07), bathroom(‘07), all windows(‘08), roof(‘09), upstairs carpet and furnace(‘10), and basement(‘10).

STevenSvIlle $244,999 3669 Carver Street

Unique property zoned for priv. club recreational use; suitable for many types of organizations on priv. 25 acres of land w/mutual picnic area. Banquet/dance hall 2500 sq. ft with 12’ ceilings, FP, full kit facilities, bar area, coat check, bthrms & spacious bsmt for storage.

Beautifully maintained 7 yr old, 2 BR bungalow. Large open concept living room/dining room w/cathedral ceilings complete with a home office/den. Completely finished basement w/corner gas fireplace, wet bar and a 2 piece bathroom. Loads of upgrades.

SOlD

$1896.83 per/mth P&I / O.A.C.

$1018.11 per/mth P&I / O.A.C.

GRIMSBY

$324,900 6 Bedford Park

Great Neighbourhood. 4 level sidesplit on tree-lined street. 3 bedrooms upstairs w/ensuite priviledge. Main floor living/dining room and eat-in kitchen. Lower level (ground level) has family room w/wood burning fireplace & walk oout to beautiful backyard. SOlD

Home evaluation No Cost or Obligation

Call the Golfi team today!

905-945-0188

GRIMSBY $474,900 53 Sumner Crescent

ST. CATHARIneS $274,900 15 Lakeside Drive, Unit 41

SMITHvIlle $469,900 14 Sarah Crescent

DYNAMITE DEAL IN GRIMSBY! 5 BR home including laundry rm, all on second flr. Features gorgeous hardwood floors, grand foyer w/oak spiral staircase, maple kitchen cabinets, rich hotel style ensuite bath w/glass enclosed shower, & a professionally finished basement w/9ft ceilings.

2 BR townhome w/amazing views of the lake. Resort style living. Lrg eat-in kitch, formal DR, LR w/corner gas FP. Hardwd in DR/LR & new hardwd in the master BR. Beautifully decorated, inground pool, lrg courtyard, priv. deck off patio doors, lower level is finished.

Station Meadows Beauty. 2600 sq ft, 4 bdrm. Incl main laundry, soaring ceilings in the main flr family rm, oversized eat-in kitc & w/o to deck & pool-sized yard. Basement fin w/ rec room & additional rms for bedrms or office

$1896.83 per/mth P&I / O.A.C.

$1098.00 per/mth P&I / O.A.C.

$1876.86 per/mth P&I / O.A.C.

www.golfiteam.com


MarketWatch September B 2012 13/09/12 4:56 PM Page 5

September 18, 2012

The Golfi Team Real Estate Market Watch

Page 5

Grimsby, Lincoln West Lincoln & Niagara

Rob Golfi*

BUNGALOW

NE O R THE O N DA SOL

ONE R E NOTH A D SOL

WeST lInCOln $319,900 9407 Silver Street

GRIMSBY $159,900 49 Ontario Street, Unit#14

BeAMSvIlle $249,900 5143 Connor Drive

GRIMSBY $629,900 7 Chestnut Drive

Amazing home on 100 x 200ft lot, built in 1953, has an open concept LR/DR w/hrdwd flrs, huge master suite, new HighEff gas furnance/CA, updated bath, entry doors, & water cond.. Bonus rm over the garage.

Stunning townhome! Quality finishes throughout incl. hardwd flring, kit w/breakfast bar, oversized master BR, walk-in closet, & a main floor bath. Condo fees are $290.00/month & incl. C/Air, & exterior maintenance, building insurance, hydro, parking, & water.

PURE LUXURY! Over 3000 sqft. flourished w/upgrades, lrg kitch w/Caesar stone throughout, hardwd in great rm & dining rm, lrg master bedrm w/upgraded ensuite w/oversized glass shower, 2 stainless steel gas fireplaces, oak handrails w/aluminum spindles, 9 ft ceilings.

$1277.73 per/mth P&I / O.A.C.

SOlD

Fabulous end unit freehold Bungalow 1110 sqft avail. for 60-90 day closing. Come & visit our model home. Incl. great size BRs w/4pc ensuite off master, kitchen area overlooking family rm, attached to neighbouring unit at the garage only.

SOlD

$998.14 per/mth P&I / O.A.C.

Can You Sell Your Home by Email?

O

ver the course of three days last October, Marc Girouard and Kelty Druet corresponded by email about the sale of Druet’s condo in downtown Moncton, N.B. After a series of emails and an offer and counter offer, Druet agreed to sell unit 203 at 850 Main St. for $155,000, or so Girouard thought. But Druet changed her mind and the case landed up in court. There a judge decided that even though a formal agreement of purchase and sale was not ever signed, a deal was a deal. Since Ontario has similar laws to those relied on in New Brunswick, the same result could happen in Ontario. Here is what happened: October 22, 2010: Girouard was looking on Kijiji for a condo to rent and found the unit listed there. He spoke to the tenant who passed him on to Druet. They spoke and discussed the possibility of him buying the condo and agreed to carry on their discussions through email. October 24, 10:56 a.m. Druet sends Girouard this email: “After giving the idea of selling my condo some more thought, I have come to a decision. I would sell it

to you for $160,000, conditional that you take over the mortgage and pay the legal fees associated with the purchase. (I estimate at $800.) Please let me know your decision. October 24, 12:16 p.m. Girouard replies: “Thank you Kelty. I will meet you half way @155,000.00 and pay legal fees and assume existing mortgage.” October 25, 2:57 p.m. Druet: “Sorry for the late reply — I’ve been thinking about it. I will accept your offer. How would you like this to go?” October 25, at 3:33 p.m. Girouard: “Great, are you in Moncton any time soon? I can have a sales and purchase agreement drafted for your review. Is a November 15 closing acceptable so not interfere with your tenants, that I am told are vacating on that date? Is the mortgage holder a Moncton or Halifax bank?” October 25, 6:37 p.m. Druet: My partner has been in Peru the last few days and I just got to speak with him. He was not agreeing with the price so I am sorry but I cannot sell to you. Girouard replied he had a deal and would not release Druet from the contract. The case went to court in Moncton and the decision was given on August 9, 2011. The judge decided that if these emails were actually written and signed, they would constitute a binding agreement. He noted that the Internet and emails have become a way of life for business and individuals. Even though such things as the closing date had not been settled, he still found that there was a basis for a legally binding agreement. In Ontario, the Electronic Commerce Act, which governs the

electronic signing of documents, is confusing when it comes to the legality of signing agreements for the sale of land, so it is possible that in Ontario the result of this case may have been different. I am not so sure. The lesson here is clear. Be very careful what you write in an email regarding any sale or purchase of a home. Also, if you are sending any notice in a real estate deal via email, always ask for confirmation of receipt from the other side. You may not find out that the email has hit someone’s spam file until you have missed an important time deadline. Remember to always have the advice of an experienced real estate agent or lawyer before doing anything by yourself. In this case, the seller did not want to sell

Call Today 905-945-0188

their condo but had to do so, based on this very simple exchange of emails. Do not let this happen to you. Mark Weisleder is a lawyer, author and speaker to the real estate industry. Contact Mark at mark@markweisleder.com

Crossword Solution


MarketWatch September B 2012 13/09/12 4:56 PM Page 6

Page 6

The Golfi Team Real Estate Market Watch

September 18, 2012

History Chart • 1955-2012 Residential & Condominium, Farm, Vacant Land, & Business, Hamilton, Burlington & Surrounding Area Year 1955 1956 1957 1958 1959 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Number of Homes Listed 6,412 8,606 8,755 9,694 9,296 9,114 10,230 10,205 8,582 8,531 8,671 9,322 10,143 11,094 11,578 12,603 12,072 11,918 11,070 13,511 16,382 18,712 20,355 20,986 19,676 21,376 20,515 20,798 20,792 21,760 20,983 20,675 25,571 26,785 28,318 36,238 36,187 32,767 29,835 27,716 25,887 22,999 21,518 21,273 19,135 22,550 21,366 17,811 18,518 19,089 18,695 19,283 19,570 19,699 17,998 20,279 20,195

Number of Homes Sold 2,552 3,790 3,773 3,426 3,403 3,037 3,063 3,100 3,330 3,759 4,599 5,114 5,522 5,665 5,326 4,304 5,229 5,821 6,210 5,941 7,841 6,251 6,769 6,424 6,834 6,699 7,126 6,466 8,844 9,131 11,396 12,286 11,392 13,810 12,439 7,745 8,350 9,049 8,199 8,817 8,185 10,784 10,612 10,654 11,206 10,941 11,896 13,154 13,478 13,817 13,955 13,640 14,411 12,445 13,160 13,440 14,407

Total Dollar Volume

Average Selling Price

$25,933,747 $40,769,888 $43,928,799 $41,636,856 $43,067,075 $39,304,822 $39,166,153 $39,720,500 $44,306,337 $53,532,765 $69,589,274 $86,964,089 $107,322,067 $123,308,631 $124,461,396 $104,857,879 $129,458,870 $159,695,737 $208,752,098 $252,660,101 $356,962,723 $313,942,966 $349,660,825 $348,288,666 $385,131,691 $398,041,113 $445,511,231 $404,899,847 $588,979,771 $620,175,677 $886,362,255 $1,136,344,284 $1,331,338,599 $1,900,870,640 $2,095,459,068 $1,299,341,482 $1,356,979,854 $1,370,502,738 $1,185,126,368 $1,302,315,456 $1,173,098,098 $1,554,507,479 $1,648,968,336 $1,662,251,354 $1,785,365,893 $1,805,188,967 $2,055,999,217 $2,422,547,269 $2,707,081,423 $3,011,698,424 $3,297,817,699 $3,441,982,496 $3,932,171,748 $3,577,212,595 $3,872,206,935 $4,226,894,801 $4,853,013,142

$10,162 $10,757 $11,643 $12,153 $12,656 $12,942 $12,787 $12,813 $13,305 $14,241 $15,131 $17,005 $19,435 $21,767 $23,369 $24,363 $24,758 $27,434 $33,615 $42,528 $45,525 $50,223 $51,656 $54,217 $56,355 $59,418 $62,519 $62,619 $66,597 $67,920 $77,778 $92,490 $116,866 $137,644 $168,458 $167,765 $162,512 $151,453 $144,545 $147,705 $143,322 $144,149 $155,387 $156,021 $159,322 $164,993 $172,831 $184,168 $200,851 $217,970 $236,318 $252,345 $272,859 $287,440 $294,241 $314,501 $336,851

Home evaluation No Cost or Obligation

Call Rob Golfi today!

905-575-7700 / 905-945-0188


MarketWatch September B 2012 13/09/12 4:56 PM Page 7

September 18, 2012

The Golfi Team Real Estate Market Watch

Page 7

Year-to-Date Statistics P R E S E N T E D

B Y

T H E

G O L F I

T E A M

Based on sales data on all home sales from May 2011 vs May 2012, REALTORS Association of Hamilton-Burlington

AREA

YTD Comparison May 2012 / May 2011

Listed YTD

Expired YTD

Sold YTD

Average Selling Price

Average Days on Market

Selling % of List Price

ANCASTER (DISTRICT 42)

2012 2011

584 571

109 107

385 376

$455,703 $433,531

47 57

98% 97%

BURLINGTON (DIST. 30 to 36 & 38)

2012 2011

2815 2906

219 256

2345 2410

$454,477 $416,388

30 35

99% 98%

DUNDAS (DISTRICT 41)

2012 2011

288 294

34 42

255 228

$360,332 $340,483

50 48

98% 98%

GLANBROOK (DISTRICT 53)

2012 2011

384 401

58 59

260 265

$343,639 $320,669

57 57

98% 98%

GRIMSBY (DISTRICT 54,55)

2012 2011

395 398

64 61

300 294

$343,714 $325,432

49 62

98% 97%

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

2012 2011

740 770

105 130

606 545

$198,249 $188,054

44 49

97% 96%

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

2012 2011

1576 1713

199 222

1331 1283

$265,115 $250,054

40 46

98% 97%

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

2012 2011

967 1112

224 281

770 742

$162,438 $151,488

45 52

97% 96%

LINCOLN (DISTRICT 980,981)

2012 2011

182 N/A

42

130

$347,974

74

98%

WEST LINCOLN (DISTRICT 56,58)

2012 2011

73 70

16 23

47 42

$343,300 $318,210

67 87

96% 96%

SMITHVILLE (DISTRICT 57)

2012 2011

78 80

18 21

54 61

$268,609 $243,219

57 72

97% 97%

STONEY CRK (DISTRICT 50,51,52)

2012 2011

903 945

152 156

715 662

$314,637 $295,118

47 58

98% 97%

Crossword Puzzle

(Solution on Page 5)

CLUES ACROSS 1. Domesticated 5. ____ A Sketch 9. Take in solid food 12. Dwarf buffalo 13. Cut-rate 15. Resound 16. To snarl, growl 17. Slang for money 18. Small brown songbird 19. Point one point N. of due E. 20. Public lecture halls 22. Clairvoyance 25. Departer 26. Egyptian statesman Anwar 28. Reverence 29. Pinna 32. Tap gently 33. Mother-of-pearl 35. ___ Dhabi, Arabian capital 36. Doctors' group 37. Mahatmas 39. Command right 40. Resin-like insect secretion 41. Arm bones 43. Confined condition (abbr.) 44. Type of pension account 45. Am___: sufficient 46. Satisfies fully 48. Trout spawning nest

49. Senior officer 50. South American country 54. The cry made by sheep 57. Goora nut tree 58. Having high moral qualities 62. Anthropologist Henri Breuil 64. "Jekyll & Hyde" singer Linda 65. Scornful expression 66. Fleeces 67. Single-reed instrument 68. Covered Greek colonnade 69. = to 27.34 grains CLUES DOWN 1. Price label 2. ____ Frank's diary 3. Ancient Dead sea kingdom 4. Gained through work 5. Electronic countermeasures 6. Vietnamese revolutionary Le Duc 7. Executive manager title 8. October holiday 9. Beige 10. Polite interruption sound 11. A large amount 14. One who receives money

Call Today 905-575-7700

15. Female sheep 21. Atomic #24 23. Diego or Francisco 24. Pesetas 25. Used mouthwash 26. 1st Philippine island discovered 27. Manila hemp 29. US 10 dollar gold coin 30. In a way, assists 31. Regretted 32. Spanish artist Salvador 34. Witche's boiling vessels 38. Impertinence 42. "Jurassic Park" actor Neill 45. Workers held in low esteem 47. Knights' garment 48. Rural delivery 50. Supplements with difficulty 51. Formal close (music) 52. Irish gorse genus 53. Swiss river 55. ____igine: native 56. Swedish rock group 59. Wager 60. Famous lion 61. Period of time 63. Brid___aid: attendant


MarketWatch September B 2012 13/09/12 4:56 PM Page 8

Page 8

The Golfi Team Real Estate Market Watch

Rob Golfi*

September 18, 2012

Hamilton, Stoney Creek, Ancaster, Dundas & Glanbrook

HAMIlTOn MTn $234,900 12-134 Terni Boulevard

DunDAS

$399,000 26 Terrace Drive

STOneY CReeK $249,900 79 Spartan Ave.

HAMIlTOn MTn $239,900 277 East 13th Street

SPOTLESS! 10 years old, 1300 sqft. home in quiet area. Features an 18 foot foyer with a spiral staircase, fireplace, central vacuum, central air, big yard, 2 car driveway and garage, interior door to garage, and a new furnace in 2009. Walk to shopping and major bus line. Appliances included.

DESIRABLE LOCATION! Large master w/ensuite, large living room, formal dining room, walk out to rear deck, eat in kitchen, main floor laundry, new retaining wall with over 16,000 spent, backyard oasis, double garage, parking for 4 cars, newer hardwood floors & carpet w/most windows replaced.

Just listed!!! Large 4 bedroom, 1.5 bathroom backsplit in lower Stoney Creek. Family room with fireplace & walk out to backyard. Updated windows & shingles. Close to schools & buses. Easy access to QEW.

Just listed!!! 2+1 bedroom bunglaow with 16x22 ft dream garage. Partially finished basement with bedroom & cozy rec room. Updated kitchen & bathroom with Jacuzzi tub. Parking for 6 cars.

$938.23 per/mth P&I / O.A.C.

$1593.67 per/mth P&I / O.A.C.

$998.14 per/mth P&I / O.A.C.

$958.20 per/mth P&I / O.A.C.

NE O R OTHE N A SOLD STOneY CReeK $399,900 5 Sandy Drive

STOneY CReeK $299,900 135 MacIntosh Drive

STOneY CReeK $364,900 39 Kilbourn Avenue

HAMIlTOn CTR $149,900 15 Albany Avenue

Prestigious 4 bdrm 2700 sqft 2 storey. Grand foyer with oak staircase, kitch w/large island & built in appliances, hardwd in formal dining rm, updated carpet & under pad in all bedrooms, family room with showcase fireplace, master bedroom w/ensuite & large walk in closet. New shingles (‘12)

GET INTO THIS ONE FAST! This outstanding, immaculate home features gorgeous updated kitchen with granite like counter tops & ceramic back splash, updated bathrm, beautiful hardwood floors throughout main level, new vinyl windows, shingles, furnace and C/Air all 6 yrs new.

OUTSTANDING IMMACULATE HOME! Completely redone top to bottom gorgeous new kitchen w/granite counters & tumble marble backsplash, updated bathrooms, new trim, pot lights, new gleaming hardwood floors, updated vinyl windows, fin. basement w/new Berber carpet.

Don’t miss out! All updated in 2012 are the kitchen, bath, soffit, facia, most windows, flooring and exterior doors. Updated wiring, and newer furnace. Huge shed (10x18) with concrete pad. 4 brand new appliances included. Fully fenced yard with a large concrete patio. Hot water tank is owned.

$1597.27 per/mth P&I / O.A.C.

SOlD

$1457.47 per/mth P&I / O.A.C.

$598.72 per/mth P&I / O.A.C.

SOLD

if you want it

ONE R E H ANOT

STOneY CReeK $359,900 1364 Highway #8

STOneY CReeK $277,900 137 Memorial Ave.

CHARMING BUNGALOW TAKES YOU BY SURPRISE – this 2100 sq.ft. home sitting on park like setting country lot 85x187 ft. backing onto wooded green space, features gorgeous oak kitchen cabinets w/granite counters tops, beautiful hardwood floors, and close to all amenities.

GREAT FAMILY NEIGHBORHOOD - 3 bedrm 2 storey home sitting on comfortable lot with fenced yard, concrete drive, hardwd flrs in sunken family rm, updated kithen, finished basement with spare bedrm and rec-rm, ensuite bath off of master bedrm

$1437.50 per/mth P&I / O.A.C.

SOlD

SOLD Call Rob Golfi 905-575-7700 or visit

www.RobGolfi.com

HAMIlTOn CTR $114,900 18 Alice Street SHOWS BEAUTIFULLY! Updates galore, windows, kitchen, bath and flooring. Walk to shopping and bus line. Covered front porch and big covered rear deck, used all year with hot tub and heater. Big shed, 4 appliances included. Call for your private viewing today. $458.93 per/mth P&I / O.A.C.

ONE R E NOTH A D SOL STOneY CReeK $599,999 47 Sasha Court

HAMIlTOn MTn $274,999 387 East 19th Street

STOneY CReeK $199,900 150 Gateshead Cres., Unit 94

HAMIlTOn WeST $374,900 220 Queen Street South

Spectacular, luxurious & immaculate describes this awesome beauty. Loaded w/upgrades. Features: 10’ceilings, designer kitchen w/granite counters, large master bedroom w/rich hotel style ensuite, gorgeous hardwood & slate floors w/decorative trim/moulding & much more.

MOVE RIGHT IN! Spacious all brick 3 BR bungalow with many updates. Shingles & windows 2005, new plumbing, 100 amp on breakers, new flooring, freshly painted, finished rec-room, 2 full bathrooms, and a single detached garage. Close to Hill Park school and a nice walk to Limeridge Mall.

OUTSTANDING & IMMACULATE HOME – Backing onto park features updated stylish kitchen with granite counters w/soft touch doors, hardwd on all bedrm level, professionally finished basement, new c/air 2010, maintenance free & landscaped yard.

Charm & Character best describes this 3 bedrm beauty with fully finished basement ideal for in-law set up, features gorgeous hardwood, new kitchen & baths, vinyl windows, close to trendy lock st. Bay front & downtown shopping.

$2396.49 per/mth P&I / O.A.C.

$1098.39 per/mth P&I / O.A.C.

SOlD

$1597.27 per/mth P&I / O.A.C.

SOLD

ONE R E H ANOT

SOLD

ONE R E H ANOT

STOneY CReeK $549,900 46 Lake Avenue

BInBROOK $249,900 32 Gowland Avenue

STOneY CReeK 295,000 322 Jones Road

BuRlInGTOn $119,900 1-1167 North Shore Blvd.

CLASSIC HOME! Double brick home sitting on 107.5 x 390.25 ft lot and features original hardwd floors & trim, new bathroom on 2nd level, finished loft w/plumbing, complete house re-wired w/200 amp service, copper plumbing, 63 new windows, 35x19 ft 3 car garage, Zoning MR1.

Fabulous 3 bedroom, 2-1/2 bathroom, 2 storey townhouse backing onto parkette in Binbrook. Features master with ensuite bathroom. Open concept main floor and fully fenced back yard. Get inside today.

Huge 4 BR home waiting for finishing touch!!! Updates: siding(06), c/a(11), windows(04), insulation, drywall, doors, ceramics, bathroom w/ jacuzzi tub & separate shower, 3 car garage w/ rear exit! Inlaw suite 70% finished w/duplex zoning, 2 hydro meters, 2 driveways, & parking for 10!

Great opportunity to own on North Shore Blvd just steps away from Spencer Smith Park & quick access to QEW. Bring your paint brush & tools & make this your own unit. Co-op fee of $345.35 includes taxes, heat, water, & exterior maintenance. No dogs, no renting allowed.

SOlD

$998.14 per/mth P&I / O.A.C.

$1178.28 per/mth P&I / O.A.C.

SOlD

www.golfiteam.com


MarketWatch September B 2012 13/09/12 4:57 PM Page 9

September 18, 2012

Rob Golfi*

The Golfi Team Real Estate Market Watch

Page 9

Hamilton, Stoney Creek, Ancaster, Dundas & Glanbrook NE O R OTHE N A SOLD

ONE R E NOTH A D SOL

HAMIlTOn WeST $269,900 72 Whitney Avenue

STOneY CReeK $479,900 371 Montreal Circle

HAMIlTOn CTR $379,900 43 Hepburn Crescent

HAMIlTOn $195,900 75 London Street North

INVESTMENT OPPORTUNITY! Close to MAC University. Has six rooms, two kitchens and two bathrooms. Front bedroom was garage and can be converted back for parking. Big lot with loads of updates. Close to amenities. Place shows well.

QUIET LAKESIDE NEIGHBOURHOOD! Prestigious 2 Storey home built by Marz Homes in 2009 – features fantastic open flr plan with gorgeous walnut hardwd flrs Stylish kitchen with granite counters & ceramics, large master suite with walk in closet and rich hotel style ensuite.

METICULOUSLY MAINTAINED! Finished top to bottom this 2 storey home shows like a dream! Features gorgeous hardwd flrs, stylish kitchen w/maple cabinets, master bedrm w/rich hotel style ensuite bath, professionally finished basement w/3pc bath, patterned concrete drive, fenced yard.

Charming 3 bedroom Gem! Updates incl. electrical, plumbing, roof, most windows, & furnace all in ‘06, updated kitchen ‘07, rear deck & french doors ’09, flooring on main level & rear fence ’10, pool pump & liner ’12, & finished basement w/new carpet. A must see!

$1078.02 per/mth P&I / O.A.C.

SOlD

$1517.38 per/mth P&I / O.A.C.

SOlD

NE O R OTHE N A SOLD HAMIlTOn $219,900 57 Highcliffe Avenue AWESOME LOCATION! Walk to Sam Lawrence Park. Cute 2 BR home on a deep 182 ft. lot. Loads of updates: carpet, bathrm, some windows, & boiler (09). Sit in the den & look out over mature trees into private yard. Located in the back is a shop/cabana w/hydro. Great for entertaining.

STOneY CReeK $309,900 134 Cove Crescent 2 Stry, 3 BR home linked underground & features master w/ensuite & walk-in closet, LR/DR, eat-in kit w/walkout to a lrg concrete patio & fenced in yard. Basement recently refreshed w/new carpet & 3pc bath. Updates incl. windows, roof, furnace & A/C. $1237.79 per/mth P&I / O.A.C.

SOlD

SOLD

HAMIlTOn $189,900 214 Rosslyn Avenue North 2 1/2 storey, double brick, 5 bedroom home. Includes: 200 amp service, 3 piece bath, and eat-in kitchen in basement with side door. All major updates have been done, shingles, all windows, central air, furnace, front door & railings front and back. Just move in and relax! $758.49 per/mth P&I / O.A.C.

HAMIlTOn $262,900 30 Hollydene Place IMMACULATE & UPDATED, one floor plan with possible in-law setup. In ground pool takes up only part of backyard, lots of useable space left. Big driveway with rolling gate to lock up camper or car. Shows very nice. Updated furnace, windows, central air, bathroom, & flooring. $1078.02 per/mth P&I / O.A.C.

ONE R E H ANOT

HAMIlTOn $374,900 90 Strawberry Drive

HAMIlTOn MTn $179,900 446 Upper Sherman Avenue

RAVINE LOT! Beautiful all brick 4+2 bedrm w/3.5 baths features walk-up from basement with in-law potential, main flr ldry, main flr family rm w/fireplace, eat-in kitchen, separate dining room. New furnace/central air & carpet in basement. Great location, a walk to shopping & park.

Parking for 6 through the double width mutual drive. 3 BR home w/main flr bedrm & ldry. Over 1000 sq.ft. of new flooring. Move in ready. Backs onto park, close to hospital & on bus route. Cozy gas FP, C/A, vinyl windows, furnace/roof (approx. 5), workshop with hydro.

Great Location! Freshly painted, rec room in bsmt with loads of storage. Laminate flooring and ceramics. Great for kids, a walk to school, shopping, and major bus line. Shows nice! Well kept and clean.

GARAGE DREAM & LOCATION! Walk to Mountain Brow Park, Juravinski Hospital, shopping on Concession St., & mtn access. Loads of updates include windows, shingles, garage door, & C/A. Big dbl garage with concrete floor and hydro. One bedroom used as dining rm (wall still there).

$1497.41 per/mth P&I / O.A.C.

SOlD

$498.87 per/mth P&I / O.A.C.

$918.26 per/mth P&I / O.A.C.

HAMIlTOn eAST $124,900 6 Jerome Crescent

HAMIlTOn MTn $229,900 22 East 39th Street

Home evaluation

ONE R E NOTH A D SOL

No Cost or Obligation

STOneY CReeK $349,999 161 Halifax Street

HAMIlTOn MTn $199,900 60 East 24th Street

ADORABLE AFFORDABLE! Immaculate 3 bedrm home in super clean condition on premium lot, features maple kitchen cabinets w/endless storage for cook-ware and dishes, spacious family room w/showcase fireplace with hook up for Plasma TV, fenced yard & quick access to QEW.

Big 4 BR home located on the mountain. This home features a main flr BR, family rm, LR/DR & a lrg eat in kitch. Updates incl: roof ‘11, most windows ‘10, C/A ‘08, furnace ‘07, 1.5 baths, & has been freshly painted. Lrg 34.29 x 133 lot. Parking in front & rear drive for 5 vehicles.

SOlD

$798.43 per/mth P&I / O.A.C.

Call the Golfi team today!

905-575-7700

HAMIlTOn CTR $179,900 11 Greenaway Ave Beautiful all brick 2.5 storey single family home. Features 5 bedrooms & lots of possibilities! Newer hardwd flrs, updated kitch & baths, clean & fresh décor, nothing to do but move in! Includes single garage w/lots of parking & close to public transit. $718.55 per/mth P&I / O.A.C.

WATERFRONT

ONE R E OTH N A SOLD HAMIlTOn WeST $319,900 230 Bowman Street

HAMIlTOn eAST $479,900 711 Beach Blvd.

HAMIlTOn CTR $224,900 68 Holton Avenue South

Fantastic Location! 3+1 BRs, 1 1/2 baths, new roof May 2012, new front porch, updated water line, bath tub reglazed, new toilet, orig. hardwd flrs, single car detached garage w/parking for 2 cars. Tenanted until August 31, 2012.

Live on the beach! Solid home on the Hamilton beach with a 2 bedroom self-contained unit. Separate entrance and furnace. Gorgeous sunroom with amazing view of the lake. Huge fenced yard, big drive way & large principle rooms. Minuts from Spencer Smith Park and Joseph Brant Hospital.

Attention Investors! Big home used as two family! Main level one BR, kitchen, living room, dining room, 4pc bath rented $875/mo w/utilities included. 2nd & 3rd floor has 4 BRs rented $400/mo ea. & share living room, bthrm & kitchen. Laundry room in the basement.

$1277.73 per/mth P&I / O.A.C.

$1916.80 per/mth P&I / O.A.C.

$898.29 per/mth P&I / O.A.C.

Call Today 905-575-7700

HAMIlTOn MTn $299,900 47 Belvidere Avenue Great mountain location 3+1 bedroom brick bungalow, steps to the Hamilton escarpment. Updates include kitchen, bathrooms, fin. basement, roof, windows, doors, furnace, and C/A. Granny suite possibility in basement. Very quiet and private backyard with beautiful perennial gardens. SOlD


MarketWatch September B 2012 13/09/12 4:57 PM Page 10

Page 10

The Golfi Team Real Estate Market Watch

September 18, 2012

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MarketWatch September B 2012 13/09/12 4:57 PM Page 11

September 18, 2012

The Golfi Team Real Estate Market Watch

Page 11

Why Home Inspections aren’t a Waste of Money

A

lmost every resale home purchase is conditional on the buyer being satisfied with the results of a home inspection. But what does satisfied mean? When can a buyer back away and when are they just using the inspection as a convenient way to find a loophole when they get cold feet? If the buyer decided not to do an inspection and then just cancelled the deal, they would likely lose their deposit and could probably be sued for breach of contract by the seller if they sold to anyone else for less money. Inspection conditions are not an automatic option to terminate, as many buyers believe. A lot will depend on the exact wording of the condition language. It will help a buyer if it says that the buyer has to be satisfied with the inspection in their “sole and absolute discretion.” The buyer may have difficulties if they use a relative who is not qualified and who just says something like “This is not a good house.” Make sure you use a qualified home inspection firm. Check to make sure that they are registered with the Ontario Association of Home Inspectors.

RAFFI ANDERIAN ILLUSTRATION/ TORONTO STAR Usually, a buyer will find an inspector or, if using an agent, the agent may suggest one. The buyer and inspector spend a few hours going through the house and after the tour make a decision about whether to go ahead based on what they’ve seen. One of the main problems is that inspectors are limited in how much they

can investigate. They are not allowed to look behind walls to see if there is evidence of leaks or mould. This is made worse because sellers may not disclose defects in their property, expecting the buyer to be bound by caveat emptor, or buyer beware, meaning too bad if you find out about problems after closing. Sellers, on the other hand, are not permitted to see the buyer’s home inspection report, unless it says so in the condition. This can be serious for a seller. Let’s say the house sells subject to a home inspection condition. The buyer says “I am not satisfied” and cancels. Now new buyers suspect something must be wrong with the house and the seller has no way of knowing how to explain this. In order to solve this problem for a seller, I recommend inserting a clause into every home inspection condition that if the buyer is not satisfied for any reason and cancels, they have to provide the seller with a copy of their inspection report within 24 hours. In this way the seller can explain the problem to a future buyer or, better still, just fix it. Still, in some cases sellers are taking the position that the buyer was not acting in good faith when they cancelled the

deal as a result of an unsatisfactory home inspection and are refusing to return the buyer’s deposit. Deposits cannot be returned to a buyer unless both the seller and buyer agree. This can cause a buyer difficulty as they will not have the necessary money to make an offer on another house while they fight over the deposit. To avoid this, I recommend that buyers make two deposits when they buy their next re-sale home; one small deposit when the offer is accepted, and then a larger deposit once they are satisfied with the results of the home inspection condition. This way, if the buyer is not satisfied and the seller tries to withhold the deposit, you are only fighting over a smaller amount. If buyers and sellers understand all their rights and obligations under the home inspection condition, there will hopefully be more disclosure of defects up front by the seller, so that the buyer can in good faith conduct a proper home inspection and close.

Mark Weisleder is a lawyer, author and speaker to the real estate industry. Contact Mark at mark@markweisleder.com

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MarketWatch September B 2012 13/09/12 4:57 PM Page 12

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Sept 18, 2012 Issue 56