august 2015 issue 113

WHAT’S INSIDE:HOMES FOR SALE | PAGE 4Hamilton, Stoney Creek, Ancaster,Dundas & Glanbrook

LUXURY & WAtERFRONt | PAGE 8

HOMES FOR SALE | PAGE 6Grimsby, Lincoln, West Lincoln & Niagara

Many Canadians wouldStruggle if MortgagePayments Grew SlightlyPAGE 9

August 2015 - Vol 78

NO COST • NO OBLIGATIONNO COST • NO OBLIGATIONHOME EVALUATIONHOME EVALUATION

905-575-7700 905-945-0188905-575-7700 905-945-0188

A Look into Grimsby’s Past...

GRIMSBY BEACH - CHATAUQUA, THE PRIDE OF CANADA – A PEEK INTO GRIMSBY’S FAMOUS PASTWhere would we be today, if we were living in a modern resort town. Our lives would definitely be different! Look inside on Page 2 for Grimsby Beach History. Photo credit http://vitacollections.ca/grimsbychautauqua

Call Today 905-945-0188

The Golfi Team Real Estate Market Watch August 2015

A Peek into Grimsby’sFamous Past… (COVER)

Grimsby's Chautauqua HistoryIn 1846, Methodists gathered on the shore of

Lake Ontario on land owned by J.B. Bowslaughin a ten day temperance rally. Starting in 1859,this area became the site for regular summerevents. Tents and sermons became the norm until1875 when J.B. Bowslaugh deeded 12.5 acres tothe cause, and the Ontario Methodist CampGround Company was started. Cottages built byJ.B.’s brother, Edward Bowslaugh, began to pop-ulate the newly divided lots. Steamships and raillines allowed for easy transportation and visitorsstarted staying for the whole of the summer sea-son.

Ontario Methodist Camp GroundThe Ontario Methodist Camp Ground

Company became a popular resort for people allover Ontario and other nearby areas. Science,politics, and arts were the subject of many lec-tures. Visitors could expect musical acts, theatreperformances, sermons, and lawn bowling andbaseball. Two hotels were opened within theresort. According to the 1885 program, over50,000 people had visited the resort in 1884. TheTemple was built in 1888 and cottages and peoplecontinued to come to “The Pride of Canada”.

The popularity of Grimsby Beach continued togrow and company and family picnics became agroup to which the campground catered. Startingin 1906, one of the largest picnic celebrations washeld annually on Emancipation Day.

In 1909, the Grimsby Park Company Ltd wentbankrupt. A Cleveland man, H.H. Wylie, pur-chased the area and started a radical transition forthe area. No longer were the strict rules of tem-perance enforced. Now there were roller coasters,the “Electric Lady”, and balloon ascensions.Company picnics continued to be a major sourceof income for the company.

Remnants of the ChautauquaGrimsby Beach continues to echo with the

charms of its storied past. In fact, the cottagesbuilt for the summer residence of a temperancecamp, remain the most prominent connection tothe rich history of the area. Now, the intricatefretwork and colors of the cottages inspire avibrant mood at the beach which is a reminder ofthe spirit that once built the area.

Though the Grimsby Chautauqua is no longera physical presence within the community, itsspirit remains and is evident throughout the town.A desire to create and support lifelong learning,provide a holistic approach to healthy communityliving, enrich the quality of life, while combiningmind, body and soul and promoting volunteerismand awareness among community groups aregoals commonly shared by many of Grimsby’sorganizations and Town services.

Credit http://vitacollections.ca/grimsbychautauqua

www.GolfiTeam.com

August 2015 The Golfi Team Real Estate Market Watch

MUST SELL• Estate Sales• Bank Foreclosures• Company-Owned Properties• Distress Sales

Free List with Pictures

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Fixer-upperHOMeS FOr SALe

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905-575-7700 • 905-945-0188

Bungalows & Raised Ranches Two Storeys • Semis & Town Homes

How to Sella Home ThatDidn’t SellHAMILTON/NIAGARA – If your home has just

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HAMILTON - According toindustry experts, there areover 33 physical problemsthat will come under scrutinyduring a home inspectionwhen your home is for sale.A new report has been pre-pared which identifies theeleven most common ofthese problems, and whatyou should know about thembefore you list your home forsale.

Whether you own an oldhome or a brand new one,there are a number of thingsthat can fall short of require-ments during a home inspec-tion. If not dealt with, any ofthese 11 items could cost youdearly in terms of repair.That’s why it’s critical thatyou read this report beforeyou list your home. If youwait until the building inspec-tor flags these issues for you,

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27 Quick &Easy Fix Ups toSell Your HomeFast and forTop DollarHAMILTON/NIAGARA – Because yourhome may well be your largest asset, sell-ing it is probably one of the most impor-tant decisions you will make in your life.And once you have made that decision,you’ll want to sell your home for thehighest price in the shortest time possiblewithout compromising your sanity.Before you place your home on the mar-ket, here’s a way to help you to be as pre-pared as possible.

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11 Critical Home Inspection Traps To Be

Aware Before Listing Your Home For Sale

Hamilton EaSt

Bungalows/Raised Ranches

Starting at $139,000

24 Available

two Storeys


14 Available

Semis & townHomes


17 Available

Hamilton mtn



59 Available

two Storeys


94 Available

Semis & townHomes


50 Available

Hamilton CtR



25 Available

two Storeys

Starting at $99,900

97 Available

Semis & townHomes


29 Available

StonEy CRk upR



14 Available

two Storeys


34 Available

Semis & townHomes


12 Available

StonEy CRk lWR



18 Available

two Storeys


29 Available

Semis & townHomes


28 Available

GRimSBy



29 Available

two Storeys


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linColn



28 Available

two Storeys


37 Available

Semis & townHomes


15 Available

Exclusive Scenic Drive! Picture perfect home with a secluded yard backing onto a 5acre protected woodlot. Gorgeous pool and private oasis awaityou. House loaded with character. Many upgrades, kitchen,baths, $30,000.00 on pool 2014.Walk-up from lower level topool.726 Scenic Drive, Hamilton | $539,900

Custom Built 2 Bedroom all brick home Sitting on one acre with 3 car garage, home features largeliving room, kitchen with granite counters, large island, highend stainless steel appliances, main floor laundry, largemaster bedroom, and second kitchen. Hard wood flooringthroughout.1489-1/2 Highway #8, Stoney Creek | $499,900

Over 1 acre

Gorgeous 3 Bedroom HomeThis spacious bungalow offers 2,100sqft of gorgeous livingspace on one floor. 3 bedrooms, 3 full baths, partially finishedbasement, corner lot with double garage and fenced yard withstone patio and gazebo. The finishes make it look like a modelhome! Visit www.112RoyalWinterDrive.com for more information!112 Royal Winter Drive, Binbrook | $584,900

Hamilton, Stoney CreekAncaster, Dundas & Glanbrook

Rob Golfi*

Call Today 905-575-7700


1/2 Acre LotPicturesque & private ½ acre 4 bedroom family home in thecountry, features beautiful hardwood floors, open and invitingsun filled rooms, oversized country kitchen, updated shingles,vinyl windows, minutes to all amenities. 1506 Guyatt Rd, Glanbrook | $429,900

Mountain Bungalo with Garage!Amazing location & well-kept brick bungalow. Updates:Shingles, kitchen, bathroom, eaves, main floor windows, backflo preventor, electrical panel, AC and furnace. Nice yard witha deck, detached garage with hydro and 6 car driveway.33 Moxley Drive, Hamilton | $329,900

West Mountain - Fabulous Location!Wow, Mr. Clean lives here! Very well looked after townhome.Many updates: kitchen, baths, flooring & doors. Gas waterheater. Very well run condo. Two car drive with garage. Goodschools within walking distance, bus and shopping.Landscaping and snow removal with condo fees. Gas line runto unit. Easy HWY access.184 Lavina Crescent, Hamilton | $229,900

Perfect Starter Home!Very well maintained, close to schools & center mall.Appliances included. Updated shingles, furnace, central air,most windows, wiring, & plumbing. Third floor can be abedroom loft or storage. $20.00 front yard parking fee on tax`seach year. Flexible closing.459 Paling Ave., Hamilton | $199,900

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

Shows 10++Beautiful garden and rear deck w/a walk-up from the Bsmt. &walk-out from the kitchen. Must be seen! Great Location, easyto get to shopping and Transit. Everything has been updated,2 new full baths! Move in and relax! Weeping tile, windows,wiring, shingles (2011).655 Upper Wellington Street, Hamilton | $249,900

What a Doll House!3 bedroom home with 1½ car garage on double size lot withroom for 10 car parking, features new shingles, updatedfurnace, updated kitchen and bath, new flooring, get in fastshows like a dream. Available for immediate possession. 419 Upper Sherman Avenue, Hamilton | $269,900

Trendy Beach Blvd.Spectacular & luxurious best describes this awesome beauty!Executive free hold townhome on waterfront trail with topquality finishes through-out, quartz, marble, porcelain, crownmoulding, and oversized terraces, steps away to downtownBurlington & quick access to QEW.1085 Beach Blvd., Hamilton | $849,900

Fantastic Legal DuplexOn prestigious tree lined street in sought after area, featuresall brick construction, hardwd flrs throughout, zoned multi-residential allowing for further building if desired. NewImprovements include carpeting, fencing, windows, steel door,furnace & C/Air.106 Lake Avenue Drive, Stoney Creek | $539,900

Hamilton, Stoney CreekAncaster, Dundas & Glanbrook

Rob Golfi*

www.GolfiTeam.com


Gorgeous city and waterviews!Character filled home with many modern touches. Large 4bedrooms, 2.5 baths, lovely sun room with city views. Lowerlevel rec room and 4 piece bath. 1.5 detached garage with longdrive, in-ground pool, new kitchen, bathroom, heating/cooling/wiring and much more.144 Mountain Park Avenue, Hamilton | $539,900

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

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

Attention downsizers, first time buyersand investors! Handy Downtown bungalow, 2 bedroom, furnace in 2011,windows in 2011 and roof in 2000. Close to buses,entertainment and shopping. Being sold "as-is, where-is.”213 Rebecca Street, Hamilton | $169,900

Waterfront gem!Romantic waterfront home, this custom built gem in privatecul-de-sac features, no lawn maintenance w/private pool &balcony something you see in a travel magazine. Open andinviting floor plan, with large sunny bright window, riparianrights and shore protection in place.8 Trillium Avenue, Stoney Creek | $1,049,900

The word “Plateau” is in its namesake. Custom home built on half acre lot. Fully finished basementw/second kitchen, 2 cold cellars & walk out, oversized Barzottikitch w/sliding drs leading to pool sized fenced lot, sunkenfamily room, dining rm large enough for any size family.36 Hilts Drive, Stoney Creek | $739,900

WaTerFrONT

Bring your Cheque Book!Beautiful Stoney Creek location! “Success Model”! Greatdesign for families, laundry on second floor and a “true’ doublecar garage. Appliances included. Upgraded, flooring, granitecounters, master bathtub, interior doors, rear deck, cabinetsand more. 121 Crafter Crescent, Stoney Creek | $489,700

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

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

Hot Hamilton Location!Main floor Tenant pays $695.00 month, upstairs Tenant pays$995.00 month. Landlord pays utilities. ESA approvedelectrical & fire retrofit ‘14. Tenants are on a lease. Furnacerental & maintenance is $59.00 month. Laundry in basement.23 Century Street, Hamilton | $259,900

Sought After Location4 bedroom, 2.5 bath family home nestled in a sought aftercommunity of Marshall Estates in Ancaster. Open conceptmain floor, no carpet w/lovely view of backyard & mature trees.Master w/double doors, seating area, walk-in closet & ensuite.Spacious hallway & ldry rm on 2nd flr.223 Braithwaite Avenue, Ancaster | $499,900

Fulfill your waterfront dream!Lakefront! 3000 sq ft 3 bedrm, 2 storey. Updates includekitchen with granite, marble floors, windows, ensuite. Centrehall plan with separate dining room, main floor laundry, mainfloor family room. Stunning 79 ft frontage on private road.24 Lakeshore Drive, Stoney Creek | $949,900

WaTerFrONT

Grimsby, LincolnWest Lincoln & Niagara

Rob Golfi*

Call Today 905-945-0188


WaTerFrONT

Spectacular, Luxurious & ImmaculateThis awesome beauty, features gorgeous hardwood through-out, main floor master bedroom suite, full in-law set up inbasement, wonderful family size kitchen, prof. landscapedw/in-ground salt water pool w/waterfall. Shows like a dream!24 Heathcote Ct., Grimsby | $879,900

Seconds to Brock University2 Storey home with 3 large BRs on the Upper lvl w/4 pc bath.Eat-in kitch, sep. DR & lrg LR. Fin. basement w/3pc bath.Updates Incl: shingles, A/C, fence (2015) basement bath &enlarged basement window within past 3 yrs. Close to busroutes & Quick Access to 406.3 Romy Crescent, Thorold | $219,900

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

Great Opportunity for Country LivingCountry home on an acre lot w/a waterfall pond & gazebo inbackyard. 2 sheds, dbl garage w/9 car parking & stampedconcrete. Main flr master BR w/his & her closets & ensuitew/new shower. Custom kitch, ceramic flrs & hrdwd. 2nd flrw/loft & 3 BRs. Fin. bsmnt w/theater/games rm/gym & bath.2281 Silverdale Road, West Lincoln | $499,900

Lovely semi-detached 2+1 semi-detached with open concept living, hardwoodthroughout main level, master bed with double closet and 4 pcens. Basement finished with extra bedrm and full bath. Parkingfor 4 on driveway and above ground pool.74 Golden Acres Drive, Smithville | $289,900

245 ft Deep Lot!Here’s your chance to snag a quaint, old home on a 66 x 245ft.lot for a friendly price. The home owner has done some nice“core” work to the house including cabinets, tile, floors, doors,trim & light fixtures. This lot has plenty of size to add onto thegarage or expand the foot print of the home.8917 Thorold Stone Road, Niagara Falls | $189,900

Over $30,000 in Upgrades!2683 sq.ft. Custom Woodhaven Losani Built. 4+1 BRs 3-1/2bath, fully fin. basement w/bedrm/ensuite. Main flr family roomfeatures gas FP, Lrg LR/DR, Main Flr Laundry. Large MasterBR w/walk-in Closet & 4 Pc Master Bath. Close to allamenities. Seconds from QEW.17 Udell Way, Grimsby | $539,900

One of a Kind!4 bedroom bungalow on Jordan Harbour. Very private settingfor this one of a kind offering. Plenty of updates over the yearssuch as roof, windows, septic, cistern, wiring etc. In-groundpool with newer liner, pump and chlorinator.4123 21st Street, Vineland Station | $524,900

5.5 acreS

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

Lake Ontario Views2 storey 4 bedroom home with over 4000 sq ft of living space.Newer kitchen, ensuite bathrm, basement. Home finished onall levels with views of Lake Ontario from upper level,basement complete with sunroom and walk-out to pool area.Close to marina, town and schools.24 Stone Gate Drive, Grimsby | $699,900

Outstanding home on beautiful treed lot Situated in fantastic elevation perched into the NiagaraEscarpment, this custom built 2300 sq.ft. raised ranch haseverything you need, main floor laundry, vaulted ceilings,palladium windows, upgraded wood trim & hardwood privateyard.303 Main Street West, Grimsby | $599,900

Views of the Canadian and US shores 5 bedroom home on the most prestigious street in NiagaraFalls includes in-law w/nanny suite, in-ground pool, sunroomw/built in hot tub, landscaped yard w/sprinkler system, eat inkitch, family room w/wood fireplace. Updates: roof ‘12,Furnace ‘13, AC in in-law suite, Water pump 14, interior &exterior painted in ‘12.10185 Niagara River Parkway, Niagara Falls | $799,900

WaTerFrONT

WaTerFrONTWaTerFrONT

Lakefront with 16 acres of vines alreadyplanted!Approx 21 acres property. Build your dream on lakefront parcelor create your own winery. Can be purchased with adjoiningLakeside Dr property. Great Opportunity!4921 Sann Road, Beamsville | $1,499,900

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

8 acres of Merlot currently planted withWater Views!Water Views! Approx 19 acre parcel with fantastic views of thewater. Farmhouse currently rented. Great opportunities! Canbe purchased with adjoining Sann Road property. GreatOpportunity! 4558 Lakeside Drive, Beamsville | $1,199,900

Grimsby, LincolnWest Lincoln & Niagara

Rob Golfi*

www.GolfiTeam.com


Business Opportunity - RM2 Zoning¾ acre site centrally located in the downtown area, permitteduses; apartment dwelling, boarding or lodging dwelling, homefor the aged, nursing home, group home, private homedaycare. Call for details on permitted uses.Lot #201 Academy Street, Beamsville | $369,900

BUilDiNG lOT

Vacant Commerical Lot – NEW PRICE!VACANT COMMERCIAL LOT 40x140 ft. located walkingdistance to downtown Beamsville and QEW. Services are onthe road. Call Rob Golfi today at 905-945-0188 for a privateviewing. Thank you for visiting my website and I look forwardto hearing from you. 4946 Maple Avenue, Beamsville | $79,000

vacaNT cOmmercial lOT

49 Acre hobby farm, 30 acres are bushThis property features a 35x55 ft. galvanized steel barn, largeparking or truck yard with stone and asphalt grindings on top,large 42 ft. drilled well plus Cistern, 3 level side split with largefamily room addition built in 1968, and high basement. Needsa little bit of work to get it looking lived in again. Available forimmediate occupancy. 7683 Young Street, West Lincoln | $499,900

To be built, make it your own!2 storey executive four bedroom home, 2800 sq. feet features9 ft. ceilings, 2 car garage, main floor laundry, large eat inkitchen, ensuite bath with walk in-closet, ceramics, &hardwood floors. Similar “To Be Built,” “taxes “NOT SET.”52 Kenmir Avenue, Lot #46, St. David’s | $749,900

Brick Victorian on 99.39 acres of veryproductive farm land70 acres workable & 30 acres of bush, large 2.5 storey 4 bedrm brick Victorian farm house with large barn &workshop. New cistern 3yrs, new septic 1 yr, shingles &furnace 4 yrs. Possible 4 acre severance available call fordetails.489 Kemp Road West, Grimsby | $725,000

Commuter’s Delight in MississaugaTastefully renovated throughout w/quality materials, this 3 BRTownhome is ready to just move in. Low maintenance fees,well managed, quiet complex in Clarkson 2 minutes to GOStation. Easy access to QEW, schools, shopping & allamenities Clarkson has to offer. Your Family will love it!2440 Bromsgrove Road, Unit 77, Mississauga | $350,000

WaTerFrONT

Circa 1864 Manor!Beautifully restored country manor with addition on 21.3 acresbordering Beamer Falls and the Bruce Trail. This classic redbrick home is located 5 minutes from Grimsby’s town centre.Call for details.140 Ridge Road, Grimsby | $1,289,900

21.3 acreS

Large Bedrooms!3 storey 1520 sq.ft. freehold townhome features 9ft. ceilings, 3great size bedrooms, master with ensuite and walk-in closet,large eat in kitchen, rear yard backs onto pond, 1.5 car garageand minutes to all amenities. To be built. Taxes are “not set”. 5074 Cassandra Drive, Unit 12, Beamsville | $319,900

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

Call Today 905-575-7700


Luxury Homes & Waterfront Properties

Rob Golfi*

Romantic waterfront gem! This custom waterfront home built on a private cul-de-sacfeatures, no lawn maintenance w/private pool & balconysomething you see in a travel magazine. Open and invitingfloor plan, with large sunny bright window, riparian rights andshore protection in place.8 Trillium Avenue, Stoney Creek | $1,049,900

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

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

Rob Golfi*

WaTerFrONT 30 acreS 37+ acreS

Views of the Canadian and US shores 5 bedroom home on the most prestigious street in NiagaraFalls includes in-law w/nanny suite, in-ground pool, sunroomw/built in hot tub, landscaped yard w/sprinkler system, eat inkitch, family room w/wood fireplace. Updates: roof ‘12,Furnace ‘13, AC in in-law suite, Water pump 14, interior &exterior painted in ‘12.10185 Niagara River Parkway, Niagara Falls | $819,900

Dorchester estates sweet spot!Spectacular Custom built home backing onto the escarpmentoffering in-ground salt water pool, hot tub, all on a prestigiouscourt. Features granite kitch counters, porcelain tiles, stainlesssteel appliances, main flr LR/DR, den or office, bonus great rm,hardwd flrs, lrg master suite. 28 Heathcote Court, Grimsby | $789,900

21 Acres - 16 acres vines planted!Approx 21 acres property with 16 acres of vines planted. Buildyour dream on lakefront parcel or create your own winery. Canbe purchased with adjoining Lakeside Dr property. GreatOpportunity! 4921 Sann Road, Beamsville | $1,499,900

Circa 1864 Manor!Beautifully restored country manor with addition on 21.3 acresbordering Beamer Falls and the Bruce Trail. This classic redbrick home is located 5 minutes from Grimsby’s town centre.Call for details.140 Ridge Road, Grimsby | $1,289,900

WaTerFrONT 21.3 acreS

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

Creating Dreams on the WaterCentury home with old world charm & updates. Large living/dining room with unobstructed views of water, newer eat-inkitchen, main flr den & new master bedroom with ensuite andwalk out to second level deck. Addition has 2 bedrooms andhome theatre. Remodelled front porch with new reinsulatedwood siding on front. Newer boiler & water treatment system.4142 Lakeshore Road, Beamsville | $599,900

WaTerFrONT WaTerFrONT

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

WaTerFrONT

Quiet lakeside neighbourhood condoImmaculate 1200 sqft., 2 BR unit in fantastic condition hasopen & inviting flr plan w/vaulted ceilings. Features oversizedgreat rm w/gas fireplace & lrg windows looking out to gorgeousLake Ontario, sliding door leading to balcony. Avail. for immed.occupancy.515 North Service Road, Unit #58, Stoney Creek | $399,900

WaTerFrONT

Fulfill your waterfront dream!Lakefront! 3000 sq ft 3 bedrm, 2 storey. Updates includekitchen with granite, marble floors, windows, ensuite. Centrehall plan with separate dining room, main floor laundry, mainfloor family room. Stunning 79 ft frontage on private road.24 Lakeshore Drive, Stoney Creek | $949,900

WaTerFrONT

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Call Today 905-945-0188


www.GolfiTeam.com

www.Golfiteam.com | 905.575.7700 |1.800.288.9184

SHARON

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wELLMAN

MIKE

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THE ULTIMATE SELLING TEAM

RoB GolFiSalES REpRESEntativE

We SELL more... because we DO more!

Many Canadians would Struggle if Mortgage Payments Grew Slightly: poll

How the Bond Market Meltdown could push Fixed Mortgage Rates Higher

Asurvey by Manulife Bank ofCanada says nearly half ofCanadian homeowners are taking

steps to whittle down their mortgage debt,but many would be in trouble if theirmonthly payments grew even slightly.

Manulife says 18 per cent of home-owners made extra lump-sum paymentstowards their mortgages in the past year,while 17 per cent increased their regularpayments. Another five per cent ofrespondents did both.

In total, 40 per cent of the homeownerspolled made extra mortgage payments dur-ing the past year, while 60 per cent did not.

The average amount of additionalmortgage payments was $6,300.

Manulife Bank of Canada's presidentand CEO Rick Lunny said it's encourag-ing that many homeowners are takingsteps to reduce their mortgage debt.

However, the survey also found thatmore than a third of homeowners polledwould face financial hardship if theirmortgage payments increased by just 10per cent.

"Having your payments go up 10 percent sounds like a lot, but if you have a$200,000 mortgage and interest rates goup one per cent, that's a 10 per centincrease in your mortgage payments,"

Lunny said. "So there's not much roomhere for those people."

Meanwhile, another 15 per cent ofhomeowners said they couldn't handle anyincreases at all in their mortgage pay-ments.

"It's inevitable that interest rates will

go up, because they're at historical lowsand have been for some time," Lunny

said.However, Lunny noted that 79 per cent

of those polled said they would be willingto cut back on discretionary spending,such as eating out, in order to get out of

debt — an indication that there is morewiggle room in their budgets than theymay realize.

"These people probably, better thanthey think, would have the ability to maketheir mortgage payments, but it wouldhave an impact on their lifestyle," Lunnysaid.

Manulife polled 2,372 Canadianhomeowners in all provinces betweenFeb. 10 and 27. Respondents were allbetween the ages of 20 and 59 and had aminimum household income of $50,000.

The polling industry's professionalbody, the Marketing Research andIntelligence Association, says online sur-veys cannot be assigned a margin of errorbecause they do not randomly sample thepopulation.

The Manulife survey found thatCanadian homeowners are carrying anaverage of $190,000 in mortgage debt,with Albertans carrying the heaviest debtload — an average of $242,300.

That's followed by $217,300 in BritishColumbia, $196,900 in Manitoba andSaskatchewan and $193,000 in Ontario.

Atlantic Canada has the lowest averagemortgage debt, at $127,300.

By Alexandra Posadzki, The Canadian Press

An increase in mortgage rates islikely just around the corner, a sit-uation that might push some con-

sumers to lock down their rates.Given that five-year Government of

Canada bond yields have climbed about40 basis points in the last month, andmortgage rates track bonds, it makessense to try to get a rate guarantee if youare shopping for a house, Rob McListerof ratespy.com says.

“There is an inclination to recapturesome of the spread [between bond yieldsand mortgage rates],” says McLister, whoexpects up to a 15-basis point increase on

the five-year.Consumers might consider getting

pre-approved for a mortgage before theybuy a home – an option that offers a guar-anteed rate for as much as 180 days.

“I got an email from one lender sug-gesting we may see something in thecoming days,” said Vince Gaetano, aprinciple at monstermortgage.ca. “I thinkit would be very prudent [to get pre-approved]. The only reason people don’tis they are just lazy or don’t know whentheir mortgage is up for renewal.”

A pre-approval usually involves somesort of credit check, which can affect

your credit score, but the impact is likelynegligible for anyone with good credit.

A rate guarantee nets you a higher ratemost of the time and it rises based on howlong you want a financial institution toguarantee the rate. Gaetano says 2.64 percent can be guaranteed for 120 days on afive-year fixed rate mortgage, whichcompares with today’s going rate of 2.59per cent for the same term.

Rate hikes would occur as sales havedropped in Calgary and Edmonton. Priceshave peaked in every market in the coun-try with the exception of Vancouver andToronto. And industry watchers say any

upward movement will probably not beenough to slow those markets or liftAlberta sales.

Doug Porter, chief economist withBank of Montreal, doesn’t think a smallchange will have much of an impact.“Every basis point matters but can it sin-gle-handedly cool markets? It will takesomething much more serious than that,”he says. “There is very much ‘the littleboy who cried wolf’ story going on here.”

By Garry Marr, The Financial Post

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Crossword Solution

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Are you selling your home?Does the interior or exterior need some work to get it intoselling condition?

Purchase Financing available OAC

MortgageAmount

MonthlyPayment

Bi-weeklyPayment

$200,000 $651.55 $300.59$220,000 $716.70 $330.65$240,000 $781.86 $360.70$260,000 $847.01 $390.76$280,000 $912.17 $420.82$300,000 $977.32 $450.88$320,000 $1,042.48 $480.94$340,000 $1,107.63 $511.00$360,000 $1,172.79 $541.06$380,000 $1,237.94 $571.11$400,000 $1,303.09 $601.17

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Crossword puzzle

Across1,4,9 leader of the 1745 Jacobite uprising

(6,6,7)

10 French landscape painter, d. 1875 (5)

11 Home to the Derby and the oakes(5)

12 ooze (7)

13 illicit trading (5,6)

18 neck of land (7)

20 tactless remark (5)

22 Eddy (5)

23 positively unfriendly disposition (3,4)

24 playground device (6)

25 leg and loin of venison (6)

Down

1 Financial supporter (6)

2 moves towards (5)

3 muslim (7)

5 See how the land lies (informal) (5)

6 Recount (7)

7 value highly (6)

8 tending to look on the dark side ofthings (11)

14 military convenience – reliant (anag) (7)

15 Emblems of royalty (7)

16 Fails to meet (6)

17 mammon (6)

19 australian operatic soprano, d. 1931 (5)

21 pretend to be (5)

the Solution

2 3

7 2 4 1

9 6 8

6 8 54

5 2

4 9 2 7

1 79

9 5 16

3 7

SUDOKUSUDOKU

165294 837

782546 391

934672 185

276385 419

359718 642

418923 576

621837 954

897451 26

543169 728

3

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.

(Solution on Page 10)

PURCHASE FINANCING AVAILABLE OAC

Appraisers say BuyersConcerned aboutInflated Home Prices

Seven in 10 Canadians who are plan-ning to buy a new home within thenext year are concerned that they

will be paying a purchase price higherthan the actual market value. Seven percent of Canadians plan to purchase ahome or property in the next year. Theseare among the findings of a national sur-vey conducted by Ipsos-Reid on behalf ofthe Appraisal Institute of Canada (AIC).

Thirty per cent of respondents who arenot planning to purchase a property with-in the next year say the fear of paying ahigher price than the market value hasinfluenced their decision to purchase ahome to a great extent (12 per cent) orsome extent (18 per cent). The poll foundthat 34 per cent of those surveyed are notinfluenced at all by the fear of paying ahigher purchase price in the next year.

“In a hot market – particularly whenthere are multiple offers – purchaseprices can be inflated. In those cases, thebuyer is essentially being asked to paymore than the true value of the property.This has potential implications for thebuyer should they choose to sell thisproperty in the future, or the lenders whoprovide mortgage financing,” says KeithLancastle, CEO of the Appraisal Instituteof Canada (AIC).

“As we saw in the global financial cri-sis, over-inflated real estate prices had asignificant impact on the economy in anumber of countries. It has been shown toaffect the stability of a country’s lendingsystem, the real estate market and – mostimportantly – consumers. The sound reg-ulatory system and market valuation fun-damentals within Canada’s real estatesector were the reasons that Canada faredbetter than so many other countries,” saysAIC president Scott Wilson.

Almost three-quarters of surveyrespondents who are planning on buyinga property soon are somewhat likely (44per cent) or very likely (30 per cent) tohire a real estate appraiser if they were tobuy or sell a property in the future.

*Source: Appraisal Institute of Canada (2014)

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august 2015 issue 113

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