aug. 1, 2012 issue 53

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

August 1, 2012 - Vol 42

HOME EVALUATION NO COST • NO OBLIGATION

905-575-7700 • 905-945-0188

Movie Night entertains over 1000 in Grimsby!Big Success for the local Food Bank! See pictures on pages 6 & 7.

Movie Night entertains over 1000 in Grimsby!Big Success for the local Food Bank! See pictures on pages 6 & 7.

MarketWatch August A 2012 28/07/12 3:26 PM

The Golfi Team Real Estate Market Watch August 1, 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.

2 6 7

5 9 6

4 5 9

7 5 8

3 4

1 3 9

9 2 5

4 7 3

2 6 1

SUDOKUSUDOKU

189423 657

253796 841

746539 182

375164 928

892351 476

614285 739

931847 265

468972 51

527618 394

3

Does a Minute Matter in a Real Estate Deal?

The standard Ontario realestate contract says dealsmust be concluded no

later than 6 p.m. on the day of clos-ing. But if you’re a minute late, willthat kill the deal?

On Friday, Nov. 30, 2007, lawyerMichael Gatien went to the Cornwall,Ont., registry office to register a deedon behalf of his client, who had justbought a plaza. He had wired the pur-chase funds to the trust account of theseller’s lawyer just after 4 p.m. andreceived the final go-ahead to registerthe deed at 4:53 p.m. But when hetried to register the deed, he missedthe 5 p.m. deadline by one minute.The registration system would notaccept anything after 5 p.m.

The seller then tried to cancel thedeal, claiming the deed was not regis-tered in time. The buyer’s lawyerargued that since all steps had beentaken to close the deal, the deed reg-istration could take place when theregistry office reopened on Monday.

The sale had involved difficultnegotiations and there were somehard feelings, which all contributed tothe seller trying to cancel the deal. Itwent to court in March 2009 and ajudge ruled the seller could not refuseto close.

Normally, real estate deals closewhen the money has been deliveredfrom the buyer’s lawyer to the seller’slawyer and title has been transferredto the buyer. Funds are usually sentby wire transfer. The seller’s lawyerreleases the deed for transfer on thegovernment computer registry systemand the buyer’s lawyer then com-pletes the computer registration.

Why does the standard agreementsay that deals can be completed by 6p.m. if the computers close down at 5p.m.?

In order for the computer registra-tion process to operate efficiently,lawyers for the buyer and seller signan agreement that says all the moneywill be held in escrow until the deedgets registered. In many cases, buyersare waiting for their own sale deal toclose in order to get the money to closetheir purchase. As a result, there isoften not enough time to get themoney wired into the trust account andto complete the electronic registrationbefore 5 p.m. This is especially true atthe end of the month, when manydeals are closing on the same day.

As a result, in many cases the

deal closes after 5 p.m. “in escrow.”

The lawyers agree that even though

the deed is not registered, the buyers

can move into the home, the seller’s

lawyer will hold the money overnight

in their trust account and the deed

will be registered the next morning.

This escrow agreement is typically

completed before 6 p.m.

Can a seller get out of the deal if

the money is not delivered to their

lawyer before 5 p.m.?

While this did not occur in the

above case, a judge will also look at

the local practice of how real estate

deals are conducted.

In another case, a buyer’s lawyer

was late getting the cheque to the sell-

er’s lawyer. The seller tried to cancel

the deal. The court found that the sell-

er contributed to the deal closing late

by delaying the final closing visit of

the buyer and not giving the buyer’s

lawyer instructions as to how to make

the cheques payable until late in the

afternoon.

Another question that arises on

closing is when does a seller have to

let the buyer into the house?

This should happen as soon as

title registration takes place and not

later than 6 p.m. if it is an escrow

arrangement. In one case, a buyer’s

movers sat in the driveway from 6

p.m. on the day of closing until 9

p.m., waiting for the sellers to leave.

It cost the sellers more than $1,000 to

pay for the buyer’s additional moving

costs, since they were late leaving the

home.

Sellers also cannot leave junk in

the house on closing. If they do, the

buyer can sue to pay for the cost of

removing it.

Sellers, vacate your home early

on the date of closing and take every-

thing with you. If you need more

time, make changes in the contract at

the time you sell it.

Buyers and sellers, do not try to

change your mind and cancel a deal

because a deed cannot be registered

in time. Let your lawyers complete

the escrow and move on.

Mark Weisleder is a Toronto real

estate lawyer. Contact him at

[email protected]

MarketWatch August A 2012 28/07/12 3:26 PM Page 2

August 1, 2012 The Golfi Team Real Estate Market Watch

Call Today 905-575-7700

Mike McNeilSales Representative

Kristina KingSales Representative

Rosemarie FournierListing Co-ordinator

Vince LazarukSales Representative

Together Delivering More...

Sharon StaffordSales Representative

Rob GolfiSales Representative

Heather ReidSales Representative

Hans MarcellissenSales Representative

Wendy Murray-NicholsonSales Representative

*#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 201020031998Rob GolfiSales Representative

OVER $460 MILLION IN REAL ESTATE SALES

HOME EVALUATION NO COST • NO OBLIGATION

905-575-7700 • 905-945-0188


www.GolfiTeam.com


Crossword Puzzle(Solution on Page 11)

Across

1 Drag a leg (4)

3 Abridge (3,5)

9 Expertise (4-3)

10 Radioactive gas, linked to

granite (5)

11 Demolish (5)

12 Colonnade (6)

14 Renovation (13)

17 Leading light (informal) (3,3)

19 Scoundrel (5)

22 Someone from Muscat? (5)

23 Distinctive inner nature of

person or thing (7)

24 Taking no notice (8)

25 Second letter of Greek

alphabet (4)

Down

1 Tepid (8)

2 American elk (5)

4 Reluctance (13)

5 Gesture of indifference (5)

6 Relating to the past (3-4)

7 Shade (4)

8 Close-fitting necklace (6)

13 And the rest (Latin) (2,6)

15 Film that has been shot (7)

16 Belief that rejects the orthodox

tenets of a religion (6)

18 Bore — exercise (5)

20 Magical being who carries

out a person's wishes (5)

21 Blunt weapon (4)

Vacancy Rate in Seniors’ Housing Residences at 10.6 per cent

The vacancy rate for standardspaces for seniors across thecountry was 10.6 per cent this

spring, relatively unchanged from 10.7per cent in 2011, according to CanadaMortgage and Housing Corporation’sSeniors’ Housing Report, CanadaHighlights edition.

“While the total number of spacesfor seniors increased in 2012, the numberof standard spaces actually declined overthe same period,” said Mathieu Laberge,Deputy Chief Economist at CMHC.“Combined with an increase in the total

number of residents, this led to a relativestability in the overall vacancy rate, from9.7 per cent in 2011 to 9.5 per cent in2012.”

Vacancy rates varied across thecountry, from a high of 38.7 per cent inNewfoundland and Labrador to a low of4.8 per cent in Manitoba. The vacancyrates for standard spaces in Ontario (14.4per cent), British Columbia (12.6 percent) and Alberta (11.3 per cent) wereabove the national average. The rates inSaskatchewan (6.7 per cent), Nova Scotia(6.9 per cent), New Brunswick (7.7 per

cent), Prince Edward Island (8.2 per cent)and Quebec (8.4 per cent), were belowthe national average.

The average rent for bachelor unitsand private rooms, where at least onemeal is included in the rent, was $1,966per month in 2012, up from $1,903 in2011. Quebec posted the lowest averagerent at $1,410, while Ontario posted thehighest average rent at $2,699.

According to the survey, 202,091seniors lived in the 2,586 residences sur-veyed. Across the country, 204,496spaces were on the market, of which the

vast majority (81.8 per cent) were stan-dard spaces.

As Canada's national housingagency, CMHC draws on more than 65years of experience to help Canadiansaccess a variety of high quality, environ-mentally sustainable and affordable hous-ing solutions. CMHC also provides reli-able, impartial and up-to-date housingmarket reports, analysis and knowledgeto support and assist consumers and thehousing industry in making informeddecisions.

Home prices in Ontario up 17% in four years

Average Ontario home priceshave risen 17 per cent overthe past four years, with the

most significant growth seen in theprovince’s north, according to a reportreleased Tuesday.

The Municipal Property AssessmentCorporation, which tracked home saleprices in Ontario between Jan. 1, 2008and Jan. 1, 2012, said the figures are goodnews for Ontario homeowners as theysuggest a strong real estate market.

“Increasing property values reflectpositive economic circumstances,” saidMPAC’s Chief Assessor Larry Hummel.

However, rising home prices make itdifficult for first-time homebuyers toenter the market and many in some ofOntario’s most expensive cities likeToronto are opting for condos, a marketthat many economists have warned couldsoon be at risk of a downturn.

The figures reflect average pricetrends in local markets, which can varygreatly from one another.

To illustrate the 17 per cent averageprovincial increase, the report said if aproperty sold for $350,000 on Jan. 1,2008, the average sale price for that sameproperty on Jan. 1, 2012 would be$409,500.

“This is a reflection of obviously alot of sale data,” Hummel said of the

report’s figures.The report noted some of the most

significant growth in Ottawa and in citiesin Northern Ontario.

The country’s capital saw homeprices rise 24 per cent over the last fewyears, according to the report, whichnotes the city has a stable and fairlydiverse economy which contributes to asteady increase in prices.

Meanwhile, in Northern Ontario, thereport found a 29 per cent jump in homeprices in the Timmins area, a 25 per centincrease in the Sault Ste. Marie area anda 19 per cent rise in sale prices in theSudbury area.

Higher resource prices which con-tributed to a mining boom and the diver-sification of local economies are behindthe price increases in the north, saidHummel.

Population increases related to themining industry have been driving infra-structure development and have had aripple effect on the real estate market, hesaid.

“The north is coming off a very lowbase,” he said. “Their house prices — upuntil this last five- or six-year period —were very low relative to the rest ofOntario.”

Those home prices are still compara-tively lower than those found in southern

Ontario, the report notes. In Sault Ste.Marie for example, an 1,100-square footbungalow sold for an average of$152,616 in 2011.

Further south, the report found aver-age home sale prices in Toronto jumped23 per cent over the four-year period.

Other municipalities saw more mod-est increases, with home prices in Londonrising seven per cent and those in Barrieincreasing six per cent over the samefour-year period.

MPAC analysed actual sale prices ofsimilar properties to help establish theassessed value of residential properties.The location, quality of construction, lotdimensions, any renovations or additions,as well as number of bathrooms weresome of the factors that played into aproperty’s assessment.

The report released Monday wasMPAC’s first such document on residen-tial sale price trends, which Hummel saidis laying a foundation for a home priceassessment update later this year.

One of MPAC’s goals with the reportwas to take the temperature of the Ontarioreal estate market so homeowners arebetter informed.

“We want to give them a sense ofwhere the price for their home is head-ing,” said Hummel. “We wanted to makepeople aware of what is going to happen

in the marketplace.”Canada’s real estate market is show-

ing signs of cooling off following a post-recession boom sparked by a move toultra-low interest rates. Both nationalhome sales and the average home pricewere down year-over-year last month,indicators that the national market couldbe slowing.

The national average home price inJune was $369,339, down 0.8 per centfrom the same month last year, theCanadian Real Estate Association said.But prices increased in Calgary, remainedstrong in Toronto and continued to slowin Vancouver.


Call Today 905-945-0188


Rob Golfi*

Grimsby, Lincoln West Lincoln & Niagara

GRIMSBY $244,900

15 Adelaide StreetFantastic Investment Opportunity, Duplex within thedowntown core. 2 bedrm unit on main level & 1 bedroomunit on upper level. Gross income of $1885/mth. Includeslarge double car garage, shingles approx 4 yrs new, and newfurnace 2011. Please allow 24 Hrs for showings.

$978.17 per/mth P&I / O.A.C.

GRIMSBY $474,900

53 Sumner CrescentDYNAMITE DEAL IN GRIMSBY! 5 BR home includinglaundry rm, all on second flr. Features gorgeous hardwoodfloors, grand foyer w/oak spiral staircase, maple kitchencabinets, rich hotel style ensuite bath w/glass enclosedshower, & a professionally finished basement w/9ft ceilings.

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

GRIMSBY $349,900

81 Colonial Crescent3 bed home features open main floor plan, Jewel stone finishflooring in liv/din room, hardwood & walk out to backyardoasis, oversized deck, above ground pool & views of theEscarpment. Basement is fully finished with a 3 pc bath.

SOLD

BeAMSvILLe $405,900

4844 Northgate CrescentLAVISH TOP TO BOTTOM! 2400 sqft. of luxury this 4bdrm home features gorgeous hardwood, main flr laundry,oak staircase w/balcony overlooking great rm, crownmouldings, over sized maple kitchen w/granite & island, ,R-I-bath in basement, $1000s in upgrades, shows like a dream!

SOLD

GRIMSBY $159,900

49 Ontario Street, Unit#14Stunning 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.

$638.67 per/mth P&I / O.A.C.

DUPLEX

WeST LInCOLn $319,900

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

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

STevenSvILLe $254,900

3669 Carver StreetBeautifully maintained 7 yr old, 2 BR bungalow. Largeopen concept living room/dining room w/cathedral ceilingscomplete with a home office/den. Completely finishedbasement w/corner gas fireplace, wet bar and a 2 piecebathroom. Loads of upgrades.

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

ST. CATHARIneS $274,900

15 Lakeside Drive, Unit 412 BR townhome w/amazing views of the lake. Resort styleliving. 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.

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

BeAMSvILLe $284,900

4503 Dufferin AvenueRaised Ranch with 4+1 bedrms ideal for in-law setup,double garage, walk out from finished basement, renovatedkitchen with oak cabinets, island with granite counter, newC/air 2011, shingles 2005. All vinyl windows, greatneighborhood.

$1337.94 per/mth P&I / O.A.C.

GRIMSBY $629,900

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

$2515.92 per/mth P&I / O.A.C.

GRIMSBY $459,900

23 Tunbridge Crescent9 year old One Floor Beauty. Open concept home featureshrdwd, cer & carptd bed. Main flr family room withwalkout to fenced in back yard with spacious deck.Basement is professionally finished with oversized recroom,bathroom, bedrooms & office space

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

GRIMSBY $259,900

218 Livingston AvenueFabulous Location! 3 Bedrm side split w/amazing views ofthe escarpment, most windows replaced in Feb 12, A/C ‘05.Walk out from the basement to the rear fully fenced yard.Lrg updated eat in kitchen, hardwd flring in LR. Close toQEW, go bus, shopping, arenas, & schools.

$1038.08 per/mth P&I / O.A.C.

GRIMSBY $324,900

69 Colonial CrescentGREAT VALUE! Large 4 level backsplit finished on alllevels. 3+1 bedrooms and two full bathrooms. Perfect forthe growing family. Large eat-in kitchen leading to thebackyard that is fully fenced in.

$1297.70 per/mth P&I / O.A.C.

BeAMSvILLe $262,900

4887 Adam courtFREEHOLD TOWNHOUSE. Immediate Possession forthis stunning 3 bedroom townhouse. Nicely appointed withhardwood, ceramics, dark maple cabinetry and generousbackyard. Close to parks, shopping and highway access.

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

GRIMSBY $529,900

135 Olive StreetSUNRISE to LAKEVIEWS! 2 stry all-brick homew/beautiful hardwd flrs, upgraded trim & crown moulding,ensuite w/glass shower & roman tub, kitchen w/over-sizedisland & granite counters, 50 bottle wine rack, finishedbasement w/theater room, & underground sprinkler system.

SOLD

SMITHvILLe $469,900

14 Sarah CrescentStation Meadows Beauty. 2600 sq ft, 4 bdrm. Incl mainlaundry, soaring ceilings in the main flr family rm, oversizedeat-in kitc & w/o to deck & pool-sized yard. Basement finw/ rec room & additional rms for bedrms or office

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

IN-LAW SETUP

BeAMSvILLe $399,900

4841 John StreetNEW HOUSE BUT BETTER! Features 9’ ceilings,gorgeous open stair case, wonderful family size kitchen with8ft patio and sliding doors leading to 12x24 ft deck with hottub and fence yard, oversized family room with showcasegas fireplace, and finished basement.

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

GRIMSBY $319,900

382 Kerman AvenueULTIMATE LIVING! Private master bedroom with updatedensuite bathroom and heated floors, new furnace and C/air,hardwood floors, mostly all updated vinyl windows, gardendoors leading to covered porch with hot tub, beautifulpicturesque private back yard and quick access to QEW.

SOLD

GRIMSBY $359,900

82 Griffith DriveA PLACE WITH SPACE! 11 yrs new, beautifullymaintained 3 bedrm home features kitchen refaced withbreakfast island, showcase fireplace in sunken family rm,hardwd & ceramic flrs, freshly painted, ensuite bath & walkin closet, fenced yard.

SOLD

SOLD IN 10 DAYS

SOLD IN 20 DAYS

SOLD WITH MULTIPLE OFFERS

GRIMSBY $479,900

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

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

SOLD FOR 99% OF ASKING

SOLD FOR 99% OF ASKING


www.golfiteam.com

outdoor Movie night was a Great Success for the local Food Bank...over 1000 in attendance, 2200 lbs of food & $700 cash donated!!!

Giant Tiger Grimsby • Family Video Grimsby • Fortino’s Stoney Creek • New Sun Cookies Stoney Creek • Voortmans Cookies Burlington • Walmart Stoney Creek • Sobeys Grimsby • Canadian Tire Grimsby • Food Basics Grimsby • State Farm Beamsville • Robert Bruno - KIA of Hamilton • Fortino’s Hamilton • Canada Trust Grimsby •

The Dressing Room Salon & Dayspa Grimsby • Metcalfe Electric Grimsby • MacGirr’s Home Hardware Grimsby • Pioneer Gas Station Grimsby • Salon 63 Grimsby • Country Meat Market Stoney Creek • ED Smith Winona • Bozzo Specialty Foods Grimsby • Subway Smithville • Gino’s Pizza Smithville • Turkstra Lumber Smithville

A “BIG ThAnk you” to our Corporate Sponsors and Everyone in Attendance!


Call Today 905-575-7700

outdoor Movie night was a Great Success for the local Food Bank...over 1000 in attendance, 2200 lbs of food & $700 cash donated!!!

Giant Tiger Grimsby • Family Video Grimsby • Fortino’s Stoney Creek • New Sun Cookies Stoney Creek • Voortmans Cookies Burlington • Walmart Stoney Creek • Sobeys Grimsby • Canadian Tire Grimsby • Food Basics Grimsby • State Farm Beamsville • Robert Bruno - KIA of Hamilton • Fortino’s Hamilton • Canada Trust Grimsby •

The Dressing Room Salon & Dayspa Grimsby • Metcalfe Electric Grimsby • MacGirr’s Home Hardware Grimsby • Pioneer Gas Station Grimsby • Salon 63 Grimsby • Country Meat Market Stoney Creek • ED Smith Winona • Bozzo Specialty Foods Grimsby • Subway Smithville • Gino’s Pizza Smithville • Turkstra Lumber Smithville

All photography by Vince Magro

A “BIG ThAnk you” to our Corporate Sponsors and Everyone in Attendance!



STOneY CReek $479,900

371 Montreal CircleQUIET LAKESIDE NEIGHBOURHOOD! Prestigious 2Storey home built by Marz Homes in 2009 – featuresfantastic open flr plan with gorgeous walnut hardwd flrsStylish kitchen with granite counters & ceramics, largemaster suite with walk in closet and rich hotel style ensuite.

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

BuRLInGTOn $119,900

1-1167 North Shore Blvd.Great opportunity to own on North Shore Blvd just stepsaway 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, & exteriormaintenance. No dogs, no renting allowed.

$478.90 per/mth P&I / O.A.C.

HAMILTOn CTR $387,900

43 Hepburn CrescentMETICULOUSLY MAINTAINED! Finished top to bottomthis 2 storey home shows like a dream! Features gorgeoushardwd flrs, stylish kitchen w/maple cabinets, master bedrmw/rich hotel style ensuite bath, professionally finishedbasement w/3pc bath, patterned concrete drive, fenced yard.

$1549.34 per/mth P&I / O.A.C.

HAMILTOn WeST $269,900

72 Whitney AvenueINVESTMENT OPPORTUNITY! Close to MACUniversity. Has six rooms, two kitchens and two bathrooms.Front bedroom was garage and can be converted back forparking. Big lot with loads of updates. Close to amenities.Place shows well.

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

HAMILTOn MTn $219,900

651 Upper Ottawa Street YOUR OWN PRIVATE PARK. Huge well landscaped rearyard, fully fenced with a big deck and walkout from thedining room. Mostly hardwood on the main floor andupdated windows. New furnace 2011. rec room with bar andgas fireplace. Double concrete drive good for 4 cars.

$787.32 per/mth P&I / O.A.C.


135 MacIntosh DriveGET INTO THIS ONE FAST! This outstanding, immaculatehome features gorgeous updated kitchen with granite likecounter tops & ceramic back splash, updated bathrm,beautiful hardwood floors throughout main level, new vinylwindows, shingles, furnace and C/Air all 6 yrs new.

$1197.85 per/mth P&I / O.A.C.


47 Belvidere AvenueGreat mountain location 3+1 bedroom brick bungalow, stepsto the Hamilton escarpment. Updates include kitchen,bathrooms, fin. basement, roof, windows, doors, furnace,and C/A. Granny suite possibility in basement. Very quietand private backyard with beautiful perennial gardens.

$1197.85 per/mth P&I / O.A.C.

TOO NEW

FOR PHOTO

BInBROOk $259,900

32 Gowland AvenueFabulous 3 bedroom, 2-1/2 bathroom, 2 storey townhousebacking onto parkette in Binbrook. Features master withensuite bathroom. Open concept main floor and fully fencedback yard. Get inside today.

$1038.08 per/mth P&I / O.A.C.

HAMILTOn $349,900

183 Bolzano DriveCHARMING BUNGALOW TAKES YOU BY SURPRISE!This 14 year new home features gorgeous hardwd flrs,cathedral ceilings in family rm, professionally finishedbasement w/2 bedrm in-law set up, 2 yr new furnace, fencedyard w/large patio deck off family room, & oversized garage.

SOLD

BRAnTFORD $279,900

91 Osborne AvenueBeautiful all brick home features Cherry hardwd flrs in hall,kitchen & gathering area, kitchen w/island & upgradedbacksplash, master bedrm w/walk-in closet & ensuite, recroom w/potlights & walkout to deck with huge yard. Incl.C/V, C/A and dishwasher. JUST MOVE IN!

$1117.97 per/mth P&I / O.A.C.

Rob Golfi*

Hamilton, Stoney Creek,Ancaster, Dundas & Glanbrook


134 Cove Crescent2 Stry, 3 BR home linked underground & features masterw/ensuite & walk-in closet, LR/DR, eat-in kit w/walkout toa lrg concrete patio & fenced in yard. Basement recentlyrefreshed w/new carpet & 3pc bath. Updates incl. windows,roof, furnace & A/C.

$1317.67 per/mth P&I / O.A.C.


5 Sandy DrivePrestigious 4 bdrm 2700 sqft 2 storey. Grand foyer with oakstaircase, kitch w/large island & built in appliances, hardwd informal dining rm, updated carpet & under pad in allbedrooms, family room with showcase fireplace, masterbedroom w/ensuite & large walk in closet. New shingles (‘12)

$1673.15 per/mth P&I / O.A.C.

HAMILTOn eAST $132,900

127 Hope AvenueOPPORTUNITY AWAITS! Nicely finished one floor planwith no carpet. Shows 10+. Updated windows, wiring,plumbing, furnace, tank less water heater & waterproofedbasement with 4 big windows. A walk to center mall, & easyhighway access.

SOLD

HAMILTOn $199,900

75 London Street NorthCharming 3 bedroom Gem! Updates incl. electrical,plumbing, roof, most windows, & furnace all in ‘06, updatedkitchen ‘07, rear deck & french doors ’09, flooring on mainlevel & rear fence ’10, pool pump & liner ’12, & finishedbasement w/new carpet. A must see!

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

HAMILTOn $189,900

214 Rosslyn Avenue North2 1/2 storey, double brick, 5 bedroom home. Includes: 200amp service, 3 piece bath, and eat-in kitchen in basementwith side door. All major updates have been done, shingles,all windows, central air, furnace, front door & railings frontand back. Just move in and relax!

$758.49 per/mth P&I / O.A.C.

HAMILTOn $269,900

30 Hollydene PlaceIMMACULATE & UPDATED, one floor plan with possiblein-law setup. In ground pool takes up only part of backyard,lots of useable space left. Big driveway with rolling gate tolock up camper or car. Shows very nice. Updated furnace,windows, central air, bathroom, & flooring.

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

SOLD FOR 98% OF ASKING IN 7 DAYS

Home evaluationNo Cost or Obligation

Call Rob Golfi today!

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

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


11 Greenaway AveBeautiful all brick 2.5 storey single family home.Features 5 bedrooms & lots of possibilities! Newerhardwd flrs, updated kitch & baths, clean & fresh décor,nothing to do but move in! Includes single garagew/lots of parking & close to public transit.

$758.49 per/mth P&I / O.A.C.


161 Halifax StreetADORABLE AFFORDABLE! Immaculate 3 bedrm homein super clean condition on premium lot, features maplekitchen cabinets w/endless storage for cook-ware anddishes, spacious family room w/showcase fireplace withhook up for Plasma TV, fenced yard & quick access to QEW.

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


830 Upper Wellington StreetLarge principle rooms, big garage with hydro, longdriveway. Loads of updates! Updates include: bathroom,kitchen, and some flooring. Huge family room with bigwindows overlooking yard. Lots of storage in crawl space.Walkup from bsmt to nice yard.

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


38 Stirton StreetWonderful big family home! 2.5 storey, move in condition.Huge family sized Oak kitchen with walkout to party deck,front drive or rear parking if needed, beautiful hardwoodfloors, 4 or 5 bedrooms, new boiler in 2011 and very clean.

SOLD


216 Gray RoadBeautifully maintained 3 bedroom home ready to move in.Features main floor laundry, main floor family room, allvinyl windows, updated kitchen w/ceramics, refinishedhardwood floors, updated copper wiring, new shingles ‘03,lots of parking, close to schools, and shopping.

SOLD


60 East 24th Street Big 4 BR home located on the mountain. This home featuresa 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 133lot. Parking in front & rear drive for 5 vehicles.

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


711 Beach Blvd.Live on the beach! Solid home on the Hamilton beach witha 2 bedroom self-contained unit. Separate entrance andfurnace. 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.

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


46 Lake Avenue DriveCLASSIC HOME! Double brick home sitting on 107.5 x390.25 ft lot and features original hardwd floors & trim, newbathroom on 2nd level, finished loft w/plumbing, completehouse re- wired w/200 amp service, copper plumbing, 63new windows, 35x19 ft 3 car garage, Zoning MR1.

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


220 Queen Street SouthCharm & Character best describes this 3 bedrm beauty withfully finished basement ideal for in-law set up, featuresgorgeous hardwood, new kitchen & baths, vinyl windows,close to trendy lock st. Bay front & downtown shopping.

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


230 Bowman StreetFantastic Location! 3+1 BRs, 1 1/2 baths, new roof May2012, new front porch, updated water line, bath tubreglazed, new toilet, orig. hardwd flrs, single car detachedgarage w/parking for 2 cars. Tenanted until August 31, 2012.

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

WATERFRONT


22 East 39thGARAGE DREAM & LOCATION! Walk to Mountain BrowPark, Juravinski Hospital, shopping on Concession St., & mtnaccess. Loads of updates include windows, shingles, garagedoor, & C/A. Big dbl garage with concrete floor and hydro.One bedroom used as dining rm (wall still there).

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


6 Jerome CrescentGreat Location! Freshly painted, rec room in bsmt with loadsof storage. Laminate flooring and ceramics. Great for kids, awalk to school, shopping, and major bus line. Shows nice!Well kept and clean.

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


4 Ben Lomond PlaceShows 10++. Renovated in 2004. 3 bedroom plus denw/walkout to rear yard. Master on main floor w/4pc bath &laundry. Updated, windows, shingles, flooring, kitchen,bathrooms, & new drywall. A walk to parks, shopping &Juravinski hospital.

SOLD


446 Upper Sherman AvenueParking for 6 through the double width mutual drive. 3 BRhome w/main flr bedrm & ldry. Over 1000 sq.ft. of newflooring. 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.

$718.55 per/mth P&I / O.A.C.

Rob Golfi*

Hamilton, Stoney Creek,Ancaster, Dundas & Glanbrook

HAMILTOn $179,000

108 London Street North4 bedroom family home in a popular area. Mechanics dreamgarage 15x22 w/hydro, parking for 4 cars. Large kitchenconnected to dining room, 2 bedrooms on main level, 2bedrooms upper level. Updates include roof (’09), furnace(’08), updated kitchen, updated windows, 2 encl. porches.

SOLD

STOneY CReek 295,000

322 Jones RoadHuge 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 cargarage w/ rear exit! Inlaw suite 70% finished w/duplexzoning, 2 hydro meters, 2 driveways, & parking for 10!

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

HAMILTOn $219,900

57 Highcliffe AvenueAWESOME 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 inthe back is a shop/cabana w/hydro. Great for entertaining.

$878.32 per/mth P&I / O.A.C.

HAMILTOn $374,900

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

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

SOLD IN 7 DAYS


82 Whitefish CrescentTRENDY AND STYLISH 2 STOREY! This move in ready3 BR freehold townhome is in super clean condition &features incredible space plus fin. basement, bright masterbedrm w/ensuite & walk in closet, wonderful size kitchen,oak stair case & is located across from Seabreeze Park.

SOLD

SOLD FOR 98% OF ASKING IN 10 DAYS

SOLD TO OUR CASH BUYER

SOLD TO OUR CASH BUYER

SOLD IN 10 DAYS


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One oft h eb e s t -

r e a dM o n e y v i l l estories lastweek was thearticle aboutthe couplewho bid$90,000 overthe asking

price on a $1-million Toronto home inthe belief that they were in a biddingwar. They were shocked to find outthey were the only bidders.

The seller was eventually persuad-ed to accept half that — $45,000 overasking, but the question remains: howdid this happen?

According to the law, in a biddingwar, the agent must tell everyone howmany offers have been received forhouse. But the agent is not allowed togive out the buyers’ names or say howmuch they have bid.

In Toronto, a practice has devel-oped whereby the buyer’s agent callsthe seller’s agent and tells him that theyplan to bring in a formal offer later thatday. But that doesn’t mean they have todo it. If the would-be buyer changes hismind, he doesn’t have to bid.

What this means is that the sellermay get a handful of these so-called“registered offers” during the day —with no guarantee any will be actuallypresented later. Even so, the listingagent, to create a sense of urgency, willusually tell potential buyers he isexpecting offers.

Buyers should understand this andsafeguard themselves.

I developed a bidding war clause afew years ago that is widely used. Theclause says the buyer is presenting hisoffer based on the assumption that mul-tiple offers will be presented to the sell-er that same evening. The clause goeson to say that if the seller receives noother offers by a certain time, say 10p.m., the buyer can change his mind,cancel the deal or change the price.

If the seller accepts the buyer’soffer, he must provide the buyer withproof he has received another offer.This means providing, at minimum, thename, address and phone number of thereal estate agent who presented therival offer.

By using this clause, the buyer hasassurance that if his offer is accepted,the seller will have to prove that heindeed did have at least one other offeravailable.

If this kind of clause had been usedin the recent case in which the buyersoffered $90,000 over the asking price,then the buyers would have been ableto cancel their offer once they found outthat no other bids had been received.

So could these buyers have com-plained about the behaviour of the sell-er’s agent?

In my opinion, if the seller’s agentknew that other offers were not comingin and that the buyers mistakenlybelieved that they were in a biddingwar, that’s unethical. You cannot mis-lead a buyer just to get a higher price.

Could the buyers have cancelledthe deal? This is a difficult area of thelaw. If the buyers could prove that theseller misled them, maybe. Or if itcould be proved that the seller knew thebuyers were mistaken when they pre-

sented the offer, it is possible the buyerscould claim this was a legal mistake.However, this will involve legal fees toattempt to sort it all out.

In this recent case, the parties set-tled the matter by having the buyersagree to pay $45,000 over asking. Thiswas probably better than payinglawyers to figure it all out. Still, byusing a bidding war clause wheneveryou are suspicious about the possibilityof a bidding war, you can successfullyavoid this happening to you.

Mark Weisleder is a Toronto realestate lawyer. Contact him [email protected]

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aug. 1, 2012 issue 53

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