april 17, 2012 issue 46

P R E S E N T E D B Y T H E G O L F I T E A M

April 17, 2012 - Vol 38a

Rob GolfiSales Representative


HOME EVALUATION NO COST • NO OBLIGATION

905-575-7700 • 905-945-0188

MarketWatch April B 2012 14/04/12 2:59 PM

The Golfi Team Real Estate Market Watch April 17, 2012

www.GolfiTeam.com

Since the inception ofhis career in 1997,Rob Golfi has

recognized that understandinghis clients’ needs is essential toproviding excellent service.

As business grew, Robassembled the Golfi Team in aneffort to maintain the samelevel of professionalism clientshave come to expect. Shortlythereafter in 2003, the teamreceived the prestigious honourof being among the top 100Real Estate Teams forRE/MAX Canada, and thisstatus continues to date.

Rob’s experience andaggressive negotiating skillshave earned him every majorhonour awarded by RE/MAX,including President’s Club,100% Club, Platinum Club,Chairman’s Club, Hall of Famein 2003, the Lifetime Achieve -ment Award in 2006, hisSRES® designation in 2009 andthe Diamond Club Award in2010. Having worked with

many of the industry’sprofessionals over the years, hehas the necessary edge to bestnegotiate the sale of your home.

Any agent can list yourhouse, but Rob’s knowledge,extensive marketingbackground and dedicationgives clients peace of mindwhen dealing with the singlemost important investment intheir lives. With years ofcombined experience, the GolfiTeam can provide your homewith a level of exposure thatmost agents cannot. Utilizing ateam approach also means thatthey will likely find a purchaserto buy your home sooner, ratherthan waiting for other agents toapproach you with potentialbuyers.

Ranked in the top 5 of nearly2,000 sales agents in theHamilton-Burlington and Niagaraareas, listing with Rob and theGolfi Team is the right choicewhen choosing someone torepresent your best interest. -Å

About Rob Golfi

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.

7 2 8 3 9

9 8 24

8 5 2 1

2 1 6

1 9 4 8

2 6 75

5 4 7 3 6 8

SUDOKUSUDOKU

517246 839

342698 571

986372 154

698534 217

425813 796

731965 482

263187 945

879451 62

154729 368

3

1

Jack and Susan thought they

found the condominium of their

dreams. They loved the build-

ing, the view and the amenities. They

could take their two dogs on long walks

in the area.

So they bid on the unit, got involved

in a bidding war and won the auction.

The deal was conditional on their being

satisfied with the building’s certificate of

status.

The status certificate has all the

condo rules along with other important

information, such as who the manage-

ment company is, the financial state-

ments, the amount of money in the

reserve fund and when the last reserve

fund study was completed.

It was at that point that Jack and

Susan came to see me. It turned out the

rules only allowed one pet and the pet

could not be more than 25 pounds. Their

dogs weighed closer to 50 pounds each

and they wanted to know if this rule

could be easily changed.

Since the rule was found in the

condo declaration, it would require 80

per cent of owners to change it. I told

them that in my experience, this was

unlikely to happen. It is very hard to get

condominium owners to agree on any-

thing, and pets are a very sensitive sub-

ject. Many owners choose buildings pre-

cisely because there are pet restrictions.

They told me that they heard of some

owners who had two dogs or heavier pets

and no action was brought against them.

Could they rely on this, buy the unit and

hope no one would make a fuss? This is a

difficult question because it raises the

issue of what happens when a condo

building is not enforcing its rules. Does it

allow others who buy in to do the same

thing?

In some legal decisions, when

boards did not enforce their pet rules,

they could not take the position against

new owners who brought pets with them.

In other cases when buildings restrict

pets, owners have made Human Rights

arguments, claiming that they relied so

much on their pet that to force them to

remove the pet would leave them emo-

tionally disabled. Still, I could not give

them any guarantee that they would be

able to keep their dogs if they moved in.

In the end, they decided to cancel the

deal, as they did not want to take the

chance that they would have to remove

their dogs later. My question is: Why

were they bidding on this unit in the first

place?

A key step in your research of resale

condos is to find out what the status cer-

tificate says first, before you bid. Anyone

can order it for $100. When you inter-

view real estate agents, ask them if they

have this information. The top agents

know which buildings are well run and

which aren’t. They also should know

which buildings have unusual restric-

tions. You should too.

If you are renting a condo and the

building has pet restrictions, make sure

that the condo rules are attached to the

lease and that your tenant understands

that they are not permitted any pets.

Finally, if a pet is not supposed to be

in your building or if it is bothering the

other unit owners, you need to report this

to your board as soon as possible. Then

the board or the management company

needs to get involved quickly to work

with the owner to solve the problem, or if

necessary, declare the pet to be a nui-

sance and obtain an order to remove it

from the building.

Mark Weisleder is a lawyer, author and

speaker to the real estate industry.

Email Mark at:

[email protected].

Two-Dog Condo Problem

If you own pets, particularly bigger dogs like these ones, you may want to check out acondo's rules before bidding to buy one.

MarketWatch April B 2012 14/04/12 2:59 PM Page 2

Hamilton West $299,900

27 Paradise Road SouthWestdale classic in a great location 5 minutesaway from McMaster. Bright kitch w/breakfastbar, fantastic investment w/student income of$2680.00/mth, fin. basement, new furnace & air.Parking for 2 cars & single garage.

Brantford $279,900

91 Osborn Avenue Beautiful all brick 2 storey home! This home featuresCherry hardwd flrs in hallway, kitchen & gatheringarea, kitchen w/island & upgraded backsplash, masterbedroom w/walk-in closet & ensuite, rec roomw/potlights & walkout to deck with a huge rear yard.Includes C/vac, C/air and dishwasher.

www.GolfiTeam.com

April 17, 2012 The Golfi Team Real Estate Market Watch

Rob Golfi*

Hamilton, Stoney Creek,Ancaster, Dundas & Glanbrook


260 Bay Street S., Unit 2Gorgeous Durand area condo! Only 3 units inthis building, part of 86 Herkimer conversion.Separate garage, locker in bsmt. Access to rooftop terrace in 86 Herkimer. Shows 10++w/upgraded fixtures, cabinets, counters,lighting, window treatments, & appliances.

stoney Creek $549,900

132 Millen RoadAWESOME BEAUTY. Completely updated,hardwd flrs, kitchen w/maple cabinets, granitecounters, bathrms updated, crown moulding,spiral staircase, exterior has all new eaves facia& soffits, new shingles, new siding with stoneskirt, fenced yard, undergrd sprinkler system.

Hamilton Ctr $114,900

294 Emerald Street NorthLive mortgage free! With the upstairs apartmentrental of $625/mth your mortgage is paid.Freshly painted w/shingles 4 yrs old. Separateentrance to all floors. Parking for up to 6 cars inthe back. Owner occupies main floor, withboarder in the basement.


68 Holton Avenue SouthAttention Investors! Big home used as twofamily! Main level one BR, kitchen, livingroom, dining room, 4pc bath rented $875/mow/utilities included. 2nd & 3rd floor has 4 BRsrented $400/mo ea. & share living room, bthrm& kitchen. Laundry room in the basement.


72 Whitney AvenueClose to Mac University. Has six rooms, twokitchens and two bathrooms. Front bedroom wasthe garage. 4 rooms rented to Tenants whowould like to stay. Month to month rental. Placeshows nice.

Hamilton West $950/mo

47 Melbourne StreetFantastic location! Clean 2 BR home. Walk toLocke & Dundurn Street & 5 min. walk toamenities. Fenced yard w/rear parking, no pets,no smokers, credit check with application. 1yrmin. lease. Perfect for single professional.


63 Paisley Avenue SouthPrime property in the heart of Westdale: fullyfurnished with couches, chairs, beds, computerdesk & dresser, ideal for foreign students.Within walking or biking to McMaster, close toshopping & busses, many updates in past 7 yrs.Incredible income! No early a.m. showings!


92 Fifty RoadNature's paradise with perfect view! Gorgeous1acre side split sitting on the bench of NiagaraEscarpment. Gleaming hardwood flrs, large,custom maple kitchen with granite counter tops,6 bedrms with in-flr heating, 4 bthrms, steel roof,new windows, doors & much more. Call today!

Hamilton mtn $359,900

23 Vineberg DriveOver 2000 sq ft., 4 level backsplit! Family roomw/fireplace, big kitchen w/oak cabinets &island, vaulted ceilings in LR/DR, open fromkitchen to family rm, big rooms & walkout tocovered patio w/3 year old hot tub. Turner park,shopping, & YMCA all within walking distance.


86 Rosemont AvenueClean, bright & immaculate 3 bedrm all brick2.5 storey home avail for immed possession.Features updated kit. cabinets, spacious living &dinning rm w/neutral colour ceramics, 2 pc bathin basement with 2nd kitch, private side drive,fenced in yard, close to buses & shopping.


518-500 Green RoadBeautifully maintained and upgraded suite withbreathtaking views from windows and balcony.Features new furnace & c/air system, new 800series doors, freshly painted, amenities includepool, gym, sauna, library, work shop, squashcourts, locker #14, and a parking spot.

Hamilton east $349,500

15 Strawberry DriveBig 2 storey home loaded w/upgrades! Oakstaircase & trim, hardwd flrs, main flr den, 4baths, 4 car driveway, sliding doors to patio, parklike yard w/shed, & updated shingles. Fullyfinished bsmt, w/raised flr, & kitchen. 2 BR in-law setup w/separate entrances. Note the lot size!


14 Rowan CourtCourt location. Updates include roof, garagedoor, hardwood floor, gas fireplace, downstairsbathroom, furnace and A/C, most windows,front entry door, concrete pad with shed.


52 Deschene AvenueSeeing is believing! Features showcase fireplacew/granite in LR, updated kitchen & bathrms,hardwd flrs in living rm & BRs, all vinylwindows, shingles 2011, furnace & C/Air 2006,finished basement w/full in-law set up, 16x32 ft.heated & insulated garage, $1000’s spent!

Home evaluationno Cost or obligation

Call Rob Golfi today!

905-575-7700


Call Today 905-575-7700


Your house will get noticed FIRSTwhen listed by the Team

who gets noticed the MOST!

Call the Golfi Team Today!

905-575-7700

13 Ways on How to Win a Bidding War

With fewer sellers and high

demand for housing, bid-

ding wars are back as the

spring market gets under way. But for

buyers these auctions are stressful and

fraught with dangers, not the least of

which is that you may end up paying too

much for a house and go on to regret it.

Here are some things that can help

you come out ahead:

1. Research the area to get the low

down on the neighbours, schools,

parks, demographics and crime rate.

2. Visit with your lender or mortgage

broker in advance to get a clear

understanding as to what you can

afford to spend in order to buy a

property, without having to dramati-cally change your standard of living.

3. Work with a professional sales per-son. You need to know the real mar-ket value of properties. Many sellersdeliberately list their property at 5 to25 per cent below market value tobid it up.

4. Conduct a home inspection beforesubmitting the offer, so you canmake an offer without conditions.Sellers prefer this.

5. Do not participate in a faxed offerprocess. Always insist on attendingwith your agent in person.

6. Put in a deposit with your offer of atleast 5 per cent of the price, todemonstrate you are serious. If pos-sible, use a bank draft.

7. Bid later in the day and give the sell-er a shorter time to deal with it. Thatway they will not have the time togenerate offers from other buyers.

8. Offer to close the deal faster.

9. Market yourself and your family.Many sellers do care who will be liv-ing in their home and taking care ofit after they leave. Explain how youand your family will do this.

10. Be flexible. Offer to close the deal

early, but perhaps let the seller staythere for a few weeks, rent free, tomore easily arrange their own move.

11. Know your limit and do not budgefrom it. Do not get carried away. It isbetter to walk away and try again onanother property than to seriouslyoverpay.

12. In some cases, sellers indicate theywill not accept any offers for two tothree days. Bring your offer in earlyas the seller will usually want to seeit anyways and this may give you anadvantage.

13. If you are suspicious about whetherthere is a competing offer, considerinserting a clause that states that ifthe seller does not receive anotheroffer, you will have the option toeither cancel or revise yours. You canalso include a requirement that if theseller accepts your offer, they willprovide the name of the competingreal estate brokerage that submittedthe other offer. Buyers should con-sult their own real estate buyer agentor lawyer in preparing this clause toensure complete protection.

Mark Weisleder is a real estate lawyer. If you have any questions about realestate issues, email mark [email protected]

Bidding wars are emotional and stressful. By being properly prepared, you have thebest chance of succeeding.

“If you’re looking for something in the

trendiest neighbourhood, how do you feel about

living in Cyberspace?”


Call Today 905-575-7700


*#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.

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**

Facts About the GOLFI TEAM…

2003 2006 201020031998

tHe maRKet iS Hot noW!


OVER $460 MILLION IN REAL ESTATE SALES

Get YouR Home

SolD toDaY!

905-575-7700

Beamsville $249,900

5120 Connor DriveFabulous end unit freehold Bungalow 1,110 sqft!90 day closing avail. Come & visit our modelhome & be wowed on this Energy Guide &Tested Home. Incl great size bedroomss w/3 pcensuite off master, kitchen area overlookingfamily rm, attached to next unit only at garage.

BunGaloW

SolD aBove liSt PRiCe

grimsBy $239,900

69 Mountain StreetPrivacy in the city! Gorgeous property sitting on theedge of escarpment surrounded by towering trees,fantastic 60x125ft lot with level back yard, great in-law set up with private entrance, furnace 2 yrs new,shingles 5 & 10 yrs new, 19x26ft garage, & 21x19ftcarport w/steel roofs.


246 Glenholme AvenueSPECTACULAR, LUXURIOUS, IMMACULATE!2700 sqft, clean and bright 4 bedroom homefeatures hardwood floors & carpets, 9ft ceilingsw/potlights, upgraded cabinets in kitchen andbathrooms, and a professionally finishedbasement w/over the top finishes.

SolD WitH multiPle oFFeRS

grimsBy $169,900

#31-125 Livingston AvenueGreat Value in this lovely 3 bedroom end unittownhome! Amazing escarpment views fromyour patio door. Freshly painted, hardwood flrson upper & main levels. Corner gas fireplace inthe living room. Plenty of parking, close toamenities and go station.


453 Main Street WestRare opportunity to own a duplex in WestHamilton for this price! Separate hydro meters.7% cap rate “as is”. Potential to finish attic. Sidedrive! Roof (05). Buyer to verify all info.Showings from 12-7pm only w/24 hrs notice.


85 Belview Avenue3 BR home for immediate possession & pricedfor a quick sale. This home features hardwdunder broadloom in LR/DR, fenced yard, &front drive. Needs updating & is ideal for aninvestor or first time buyer. Ask about the homeimprovement program. Worth taking a look!


30 Rockview AvenueBig 4 level backsplit with eat-in kitchen,separate dining room, main floor laundry & 3pcbthrm & bedroom, above grade walk-out, familyroom w/FP. Shingles 4yrs new, 1-1/2 car garagewith dbl drive. Fruit trees in the backyard. Closeto Limeridge Mall, Redhill/Linc and amenities.


31 Normajean AvenueTrendy, stylish raised ranch offers beautifulupdated oak gourmet kitchen, new bathrm,gorgeous hardwd, completely finished basementw/kit, bathrm, & bedrm ideal for in-law suite.Shingles 4 yrs new, furnace & C/air 1 yr new, vinylwindows, close to busses, shopping & schools.

Burlington $454,900

2430 Redfern RoadEXCLUSIVE Listing. 2 Storey family home, courtlocation close to Go Train, HWY access & shopping.Many updates, roof, furnace & central air, mostwindows, 2 bathrooms, ceramics, main floorhardwd, gas fireplace & landscaping.

SolD WitH multiPle oFFeRS

SolD FoR 98% oF liSt in 36 DaYS

SolD in 21 DaYS

SolD to out-oF-toWn BuYeR in 24 DaYS

SolD in 35 DaYS!

SolD FoR 97% oF liSt in 30 DaYS

SolD to mY CaSH BuYeR


326 Jones RoadLarge duplex on 100 x 150 ft lot. Two 3 bdrmunits plus professionally finished 1 bdrm in-lawsuite in basement. 1.5 car garage & parking forup to 10 cars with multiple street access. Hugeprivate fenced backyard. Great investmentopportunity! Incredible income potential!

SolD to mY CaSH BuYeR


grimsBy $264,900

195 Main Street WestUpdated, trendy escarpment property in 2003.Showcase gas fireplace in family rm, large masterbedrm with hotel style ensuite, large kitchen withporcelain tiles, dinette w/patio doors leading toprivate deck overlooking escarpment.

grimsBy $249,900

32 Cline Mountain Rd.Fantastic 3 level side split sitting on 70x170ft lotbacking onto green space, features vinyl windows,laminate floors, concrete drive, room to buildgarage, quick access to QEW, country living in thecommunity of Grimsby.


www.golfiteam.com


Together… Delivering More!

Beamsville $332,900

4034 Barry Drive Trendy, stylish raised ranch! This home features9-ft ceilings w/bright big windows, hardwd flrs,kit. w/walk out to patio and above ground pool,renovated bathrm, sun filled basement w/familyrm, gas FP & spare BR w/full bathrm. Fantasticescarpment neighbourhood w/an extra deep lot.

vineland $299,900

3380 Dustan StreetCozy and stylish bungalow in peaceful lakefrontcommunity with access to beautiful walkingpaths, waterfront clubhouse & beach! Openconcept living features 9ft ceilings, 2 fullbathrms, large kitchen w/patio doors leading toback yard deck, main flr ldry.

grimsBy $1,499,900

143 Lake StreetFabulous waterfront property! Custom built,3000 sq ft home with lake views from everyroom. Maple hardwood floors, granite counters,master suite with access to back deck, ensuiteand walk-in shower. Handicap adaptable!

WateRFRont

Rob Golfi*

Grimsby, Lincoln West Lincoln & Niagara

grimsBy $389,900

100 Sumner CrescentFABULOUS FIND! Gorgeous home approx 2yrs new, features hardwd & ceramic flrs, 4 largesunny bedrms, spacious family rm withshowcase fireplace, large stylish kitchen w/walkout to back yard deck, unspoiled basement withgood ceiling height & walk out to fenced yard.

Beamsville $459,900

2845 Thirty Road North2-1/2 storey, 4 BR on over an acrew/barn/garage & enclosed hot tub. Orig.hardwd & trim throughout w/many updates.Generous room sizes & lots of room to entertain.Great country location close to water & townamenities.

vineland $274,900

3951 Victoria Avenue NorthThis charming bungalow will surprise you!Clean & bright 3+1 BR home features prof.finished basement w/in-law set up, hardwd flrs,kitchen w/dinette, beautifully landscaped yardw/pergola & hot tub. Updates include shingles2009, vinyl windows, & central/vac.

stevensville $264,9000

3669 Carver StreetBeautifully maintained 7 yr old, 2 BR bungalow.Large open concept living room/dining roomw/cathedral ceilings complete with a homeoffice/den. Completely finished basementw/corner gas fireplace, wet bar and a 2 piecebathroom. Loads of upgrades.

7 Chestnut Drive

grimsBy $649,900PURE LUXURY! Over 3000 sqft. flourishedw/upgrades, lrg kitch w/Caesar stonethroughout, hardwd in great rm & dining rm, lrgmaster bedrm w/upgraded ensuite w/oversizedglass shower, 2 stainless steel gas fireplaces, oakhandrails w/aluminum spindles, 9 ft ceilings.


grimsBy $624,900

5 Heathcote CourtCourt location at the base of the Escarpment.3042sqft Jewel Model boasts 5 bedrms upstairs,dining rm, custom kitchen, family rm w/FP.Basement fin with walkout to hottub in customizedgazebo. Prof. landscaped.

Mike McNeilSales Representative

Kristina KingSales Representative

Rosemarie FournierListing Co-ordinator

Jaclyn RossOffice Manager

Sharon StaffordSales Representative

Heather ReidSales Representative

Hans MarcellissenSales Representative

Wendy Murray-NicholsonSales Representative

grimsBy $272,000

20 Cline Mountain Road3 Level side split with 20x24’ family roomaddition approx six years ago. Large 20x30’detached garage and oversized lot. Awaits yourrenovating! Furnace has been removed but ductwork still in place.

grimsBy $469,900

391 Kerman AvenuePrestigious 2-storey will surprise you! 2750 sqftof luxury, maple & oak hardwd flrs, large familysize kitchen with granite counters & breakfastisland, showcase fireplace in family room,crown moulding, shingles 3yrs new, furnace &C/Air 2yrs new, landscaped yard with pond.

Beamsville $359,900

4469 Weltman WayBEAUTIFULLY MAINTAINED 2 STOREYHOME! 7 yrs new! Oak staircase, walnuthardwood flrs, wonderful family size kitchen,upgraded light fixtures throughout, custom blinds& california shutters, master bedrm with ensuite& walk in closet, fenced yard, large patio deck.

grimsBy $249,900

15 Adelaide StreetFantastic Investment Opportunity, Duplex withinthe downtown core. 2 bedrm unit on main level& 1 bedroom unit on upper level. Gross incomeof $1885/mth. Includes large double car garage,shingles approx 4 yrs new, and new furnace2011. Please allow 24 Hrs for showings.

grimsBy $519,900

34 Golf Woods DriveGorgeous 2+2 bedroom bungalow with main flrlaundry, in desirable neighbourhood. In-law setupon lower level with private walk-out. Beautifulhardwood floors with cathedral ceilings and gasfireplace. Master bedroom has luxury ensuite andwalk-in closet. Shows like a dream!

smitHville $399,900

146 Rock StreetOutstanding & immaculate Custom built 2350sq.ft. Facing park, loaded w/upgrades, featuresmaple kitchen with antique finish and granitecounters, gleaming hardwood flrs, porceline tile,California shutters, luxury ensuite master bedrmwith French doors leading to 16x24 covered patio.

Beamsville $239,900

4181 Fly RoadCharacter home circa 1800’s gracefully set inscenic village of Campden. This 3/4 acre lot isjust minutes away from wineries, & features 3great big bedrms, lrg country size kitchen, mainflr laundry, gorgeous plank flooring, tripledetached 24 x 24 ft. garage/workshop.

grimsBy $174,900

49 Ontario Street, Unit#14Stunning townhome! Quality finishesthroughout incl. hardwd flring, kit w/breakfastbar, oversized master BR, walk-in closet, & amain floor bath. Condo fees are $290.00/month& incl. C/Air, & exterior maintenance, buildinginsururance, hydro, parking, & water.

grimsBy $1,250,000

134 Olive StreetBEAUTIFUL WATERFRONT property infantastic residential neighbourhood. 75 x 276 ftlot with updated shore protection. Features in-law setup, nanny suite, 4+2 bedrooms, masterwith 6 piece ensuite, floor to ceiling windowsand quick access to QEW.

WateRFRont in-laW SetuP

DuPleX

Call Today 905-945-0188

Rob Golfi*

Grimsby, Lincoln West Lincoln & Niagara


West linColn $324,000

9407 Silver StreetAmazing home on 100 x 200ft lot, built in 1953,has an open concept LR/DR w/hrdwd flrs, hugemaster suite, new HighEff gas furnance/CA,updated bath, entry doors, & water cond..Bonus rm over the garage.

Vince LazarukSales Representative

HOMeevaluaTIOnNo Cost or Obligation

Call the GolfiTeam Today!

905-945-0188



Call Today 905-575-7700

YTD Comparison Listed Expired Sold Average Selling Average Days Selling % ofAREA Mar 2012 / Mar 2011 YTD YTD YTD Price on Market List Price

ANCASTER 2012 216 39 125 $462,674 58 98%

(DISTRICT 42) 2011 242 36 101 $440,657 55 97%

BURLINGTON 2012 1088 60 783 $445,834 30 99%

(DIST. 30 to 36 & 38) 2011 1126 95 785 $409,065 39 98%

DUNDAS 2012 105 16 97 $358,967 63 98%

(DISTRICT 41) 2011 122 l6 82 $333,864 51 98%

GLANBROOK 2012 139 22 73 $337,184 56 98%

(DISTRICT 53) 2011 134 24 76 $321,167 71 97%

GRIMSBY 2012 150 27 96 $322,846 57 97%

(DISTRICT 54,55) 2011 129 20 89 $314,741 69 98%

HAMILTON EAST 2012 268 36 211 $194,133 54 97%

(DIST. 23,24,27,28,29) 2011 278 43 171 $180,992 55 97%

HAMILTON MTN 2012 564 77 419 $260,590 48 98%

(DIST. 15,16,17,18,25,26) 2011 639 82 392 $238,369 48 97%

HAMILTON CTRL 2012 384 95 272 $154,704 55 97%

(DIST. 13,14,20,21,22) 2011 433 109 250 $151,438 57 95%

WEST LINCOLN 2012 32 3 13 $331,431 67 98%

(DISTRICT 56, 58) 2011 20 5 12 $337,500 88 95%

SMITHVILLE 2012 25 8 11 $264,082 73 98%

(DISTRICT 57) 2011 23 11 14 $249,636 116 98%

STONEY CRK 2012 349 57 245 $306,933 51 98%

(DISTRICT 50,51,52) 2011 320 44 207 $291,429 59 97%

P R E S E N T E D B Y T H E G O L F I T E A M

Year-to-Date StatisticsBased on sales data on all home sales from March 2011 vs March 2012,

REALTORS Association of Hamilton-Burlington


This basement flood lead to alawsuit Don and LouiseBeauchamp owned a home in

London, Ont., and during the six yearsthey lived there they renovated theirbasement, first using it as a playroom andlater as a guest room.

They sold the home in November,2007 and a week before closing in early2008 the basement flooded. They paid$1,649 to dry out the rug and replace theunderpad, but did not tell the buyers. The

Beauchamps thought this was a “one off”occurrence and since they had fixed theproblem there was nothing to disclose.

A few weeks after closing, the base-ment flooded again and it ended up cost-ing Adam and Yogi Soboczynski, thebuyers, more than $20,000. They wereconvinced the basement had floodedbefore and sued, arguing that fact shouldhave been disclosed to them.

The facts of the case are interesting.When the buyers made their offer, they

asked the Beauchamps to complete aSeller Property Information Statement(SPIS) which they did. The Beauchampssaid they had never had water problemsin the basement. But for some reason, theform was not attached to the acceptedoffer.

The offer was also subject to a satis-factory home inspection, which was com-pleted with no problems noted.

An engineer hired by theSoboczynskis testified in court that flood-ing had probably occurred during the pre-vious seven years, based on his review ofthe property. The Beauchamps brought inrelatives who had stayed in the basement.All claimed there was never any indica-tion of water problems. In addition, theBeauchamps had kept their computer inthe basement for years.

The offer also included a standardclause called the “Entire AgreementClause” which says that people who signcontracts can only rely on things that areincluded in the agreement. If it is notincluded, then it means that it did notmatter to them.

In a decision released November 17,the judge preferred the evidence of therelatives over the expert. He agreed theflooding was a one off incident and didnot have to be disclosed to the buyers.

The judge looked at other caseswhere sellers had been held responsiblewhen completing the SPIS. In all thosecases, he noted that one of the main rea-sons for liability was that the SPIS formhad been attached to the agreement. As aresult, if the sellers were dishonest orcareless in completing the SPIS and thebuyers relied on it, they could be held

responsible. In this case, the SPIS was not

attached to the agreement, so the judgedecided the buyers could not rely on it.Since the buyers could not prove that thesellers deliberately deceived them, thesellers won the case.

The lessons from this case are:

• For sellers, disclose all problems youknow about. If you are not sure, err onthe side of disclosure.

• If you as a seller sign an SPIS, to besafe, do not permit it to be attached tothe agreement. That way, you will beprotected if you made a mistake incompleting it.

• Buyers should not rely on the SPISbecause it is not supposed to be a war-ranty; it is just to be used for informa-tion purposes.

• If something matters, always include itin your home purchase agreement. Donot rely on verbal promises or adver-tisements.

Mark Weisleder is a lawyer, authorand speaker to the real estate industry.Email Mark at [email protected]

If you own pets, particularly bigger dogs like these ones, you may want to check out acondo's rules before bidding to buy one.

Basement Flood Leads to Lawsuit


www.golfiteam.com

289-969-6532

Crossword Puzzle(Solution on Page 10)

Across1 Neither good nor bad (2-2)

3 Hindrance (8)

9 Compile (anag) (7)

10 Large African antelope (5)

11 Perfectly suited (5)

12 Supermarket sections (6)

14 Norfolk seaside resort (5,8)

17 Pandemonium (6)

19 German pistol (5)

22 Semitic people of the Middle East and

North Africa (5)

23 Antiquated (7)

24 Conifer (4,4)

25 Consideration in dealing with others (4)

Down1 Young trees (8)

2 Balm — ointment (5)

4 Educational qualification (13)

5 North African capital (5)

6 French country house (7)

7 Dutch cheese (4)

8 Charm (6)

13 Time-saving route (5,3)

15 Make comprehensible (7)

16 Spite (6)

18 Early stages (5)

20 West African country (5)

21 Inclined surface — swindle (4)


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amoRTiZaTioN CHaRT

Monthly payment per $1,000

Length of Mortgage (Amortization Period)

Example $150,000 at 20yr at 3.0%: 150 x 5.54 = $831.00 /month

Interest

Rate (%) 5 yr 10 yr 15 yr 20 yr 25 yr 30 yr 35 yr

3.00 17.96 9.65 6.90 5.54 4.73 4.21 3.84

3.50 18.18 9.88 7.14 5.79 4.99 4.48 4.12

4.00 18.40 10.11 7.38 6.04 5.26 4.76 4.41

4.50 18.62 10.34 7.63 6.30 5.53 5.04 4.71

5.00 18.85 10.58 7.88 6.57 5.82 5.34 5.01

5.50 19.07 10.82 8.14 6.84 6.10 5.64 5.33

6.00 19.30 11.07 8.40 7.12 6.40 5.95 5.65

6.50 19.53 11.31 8.66 7.41 6.70 6.26 5.98

7.00 19.75 11.56 8.93 7.69 7.00 6.59 6.32

7.50 19.98 11.81 9.21 7.99 7.32 6.91 6.66

8.00 20.21 12.06 9.48 8.28 7.63 7.25 7.01

8.50 20.45 12.32 9.76 8.59 7.95 7.59 7.36

9.00 20.68 12.58 10.05 8.89 8.28 7.93 7.72

9.50 20.91 12.84 10.33 9.20 8.61 8.28 8.08

10.00 21.15 13.10 10.62 9.52 8.94 8.63 8.44

10.50 21.38 13.37 10.92 9.83 9.28 8.98 8.81

11.00 21.62 13.64 11.21 10.16 9.63 9.34 9.18

11.50 21.86 13.91 11.51 10.48 9.97 9.70 9.55

12.00 22.10 14.18 11.82 10.81 10.32 10.06 9.93


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Crossword Solution

Landscaping…

Rooted in Nature

As a full-service landscape and contracting company, we can provide a variety of servicesfrom design to installation and maintenance.Throughout the years, Aesthetics Group has

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www.golfiteam.comMarket Trends Report Sprint 2012

R

5

as value-conscious � rst-time buyers take advantage of attractive house prices and ideal location, given the recent announcement (addition) of a Go Station. Move-up buyers, empty nesters, and out-of-town purchasers are behind the push for residential real estate in Dundas, many now drawn to the vibrant community because of its trendy shops, restaurants, and high-rise condo-miniums. Move-up buyers from Toronto proper have grown increasingly attracted to Burlington real estate, particularly communities abutting the Oakville border. As a result, competition has been building for single-detached homes priced from $350,000 to $550,000, with multiple o� ers occurring with greater frequency in recent weeks. Bidding wars are also happening on entry-level properties in Hamilton, ranging in price from $230,000 to $275,000. � e top end of the market has been solid, with sales over the million-dollar price

point up from one year ago. While today’s low interest rate environment has been exceptionally conducive to homebuying activity—tighter lending policies may have some impact on the market down the road. Still, Hamilton o� ers up some of the country’s most a� ord-able inventory—and for many, the cost of owning is less than the cost of renting.

Greater Toronto Area

SPRING MARKET TRENDS REPORTRESIDENTIAL STATISTICS (JANUARY 1 – FEBRUARY 29)

MarketUnit Sales Average Price

YTD 2011 YTD 2011YTD 2012 YTD 2012 % +/-% +/-

St. John’sSaint JohnHalifax-DartmouthLondon-St. ThomasKitchener-WaterlooHamilton-BurlingtonGreater Toronto AreaOttawaWinnipegReginaSaskatoonCalgaryEdmontonGreater Vancouver AreaVictoria

359174663979869

1,73610,2571,6171,345

392475

2,7071,9784,921

723

404209896

1,088830

1,85511,5041,6931,343

455574

2,8062,1894,142

775

12.5203511

-4.57

125

-0.216214

11-16

7

$253,879$177,744$257,370$226,709$284,740$329,722$442,978$335,716$219,450$274,676$300,110$410,851$311,307$786,233$475,640

$278,893$178,594$263,001$230,624$311,457$347,660$487,254$349,791$241,115$290,006$318,163$412,300$325,041$786,695$469,399

100.5

2295

104

1066

0.44

0.1-1

Source: Local Real Estate Boards, RE/MAX

R

The residential real estate market in the Greater Toronto Area continues to � re on all cylinders in 2012, fuelled by low interest rates, strong demand and a shortage of available inventory. Approximately 11,504 properties changed hands in the � rst two months of the year, up 12 per cent over 2011 levels, extending the

Demand for residential realestate is heating up in theHamilton-Burlington area,

setting the stage for anactive spring mar-ket. First-time and move-up buyers areexpected to drive sales across the board,building on the momentum of the lastquarter of 2011. While inventory levels areclimbing, supply has been limited to date.Overall sales are up close to seven per centover one year ago, hovering at 1,855 units,compared to 1,736 units in the first twomonths of 2011. Average price has appre-ciated over five per cent year-to-date, ris-ing to $347,660, up from $329,722 in2011. Single-detached homes remain mostpopular with purchasers, representingclose to 83 per cent of residential salesactivity, while condominiums make up theremaining 17 per cent. Affordability hasfuelled home buying activity in theHamilton area where the average price issignificantly less than neighbouringBurlington. Hamilton East has surged inpopularity as value-conscious first-timebuyers take advantage of attractive houseprices and ideal location, given the recentannouncement (addition) of a Go Station.

Move-up buyers, empty nesters, and out-of-town purchasers are behind the push forresidential real estate in Dundas, manynow drawn to the vibrant communitybecause of its trendy shops, restaurants,and high-rise condominiums. Move-upbuyers from Toronto proper have grownincreasingly attracted to Burlington realestate, particularly communities abuttingthe Oakville border. As a result, competi-tion has been building for single-detachedhomes priced from $350,000 to $550,000,with multiple offers occurring with greaterfrequency in recent weeks. Bidding warsare also happening on entry-level proper-ties in Hamilton, ranging in price from$230,000 to $275,000. The top end of themarket has been solid, with sales over themillion-dollar price point up from one yearago. While today’s low interest rate envi-ronment has been exceptionally conduciveto homebuying activity—tighter lendingpolicies may have some impact on themarket down the road. Still, Hamiltonoffers up some of the country’s mostaffordable inventory—and for many, thecost of owning is less than the cost of rent-ing.

Market Trends Report Sprint 2012R

1

Solid economic performance and record low interest rates have prompted strong residential sales activity in St. John’s out of the gate in 2012. Over 400 homes changed hands so far this year, up 12.5 per cent over the same period in 2011 (404 units vs. 359 units). � e upswing in con� dence that motivated buyers en masse also resulted in an in� ux of new listings coming on-stream in January, but listings slowed in February (down 12 per cent). Overall, the number of homes available for sale remains up over last year and buyer’s conditions remain in place. Yet, with the sales momentum continuing strong into March, the market may � nally start edging closer to balanced territory in the months ahead. For now, average days on market have inched up in tandem with inventory levels, currently sitting at approximately 70 days. Sellers will need to price their properties correctly to succeed in the more competitive spring marketplace. First-time purchasers continue to lead the charge, but the ripple e� ect has also bolstered the move-up segment. The city’s average price rose 10 per cent to $278,893, up from $253,879 one year ago, and at this rate, may well top $300,000 in short order. Exceptional price appreciation has undeniably been pulled up by the higher cost of new construction. It ’s estimated that real prices have increased more moderately, based on comparables, and appreciation in the neighbourhood of � ve to six per cent is a realistic projection for 2012. Demand remains very strong for entry-level product, especially if priced in the $200,000 to $275,000 range. Multiple offers are occurring in

R

Newfoundland& LabradorSt. John’s

some areas on homes that are priced under $200,000. � ere has been an increase in buyers looking to properties that o� er basement apartments to o� set carrying costs. Condominiums are also gaining greater momentum, as prices track upward and the population ages. A grow-ing number of long-time homeowners are opting to trade in their larger, single-family homes, purchase low-maintenance condominiums and establish a solid nest egg for retirement. Developers are more in tune

MARKETMARKET TRENDS REPORTTRENDS REPORT

SPRING 2012SPRING 2012

Market Trends Report Sprint 2012R

1

Solid economic performance and record low interest rates have prompted strong residential sales activity in St. John’s out of the gate in 2012. Over 400 homes changed hands so far this year, up 12.5 per cent over the same period in 2011 (404 units vs. 359 units). � e upswing in con� dence that motivated buyers en masse also resulted in an in� ux of new listings coming on-stream in January, but listings slowed in February (down 12 per cent). Overall, the number of homes available for sale remains up over last year and buyer’s conditions remain in place. Yet, with the sales momentum continuing strong into March, the market may � nally start edging closer to balanced territory in the months ahead. For now, average days on market have inched up in tandem with inventory levels, currently sitting at approximately 70 days. Sellers will need to price their properties correctly to succeed in the more competitive spring marketplace. First-time purchasers continue to lead the charge, but the ripple e� ect has also bolstered the move-up segment. The city’s average price rose 10 per cent to $278,893, up from $253,879 one year ago, and at this rate, may well top $300,000 in short order. Exceptional price appreciation has undeniably been pulled up by the higher cost of new construction. It ’s estimated that real prices have increased more moderately, based on comparables, and appreciation in the neighbourhood of � ve to six per cent is a realistic projection for 2012. Demand remains very strong for entry-level product, especially if priced in the $200,000 to $275,000 range. Multiple offers are occurring in

R

Newfoundland& LabradorSt. John’s

some areas on homes that are priced under $200,000. � ere has been an increase in buyers looking to properties that o� er basement apartments to o� set carrying costs. Condominiums are also gaining greater momentum, as prices track upward and the population ages. A grow-ing number of long-time homeowners are opting to trade in their larger, single-family homes, purchase low-maintenance condominiums and establish a solid nest egg for retirement. Developers are more in tune

MARKET TRENDS REPORT

SPRING 2012Hamilton – Burlington& Surrounding Areas


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MarketWatch April B 2012 14/04/12 3:00 PM

april 17, 2012 issue 46

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