Jan 1, 2012 Issue 39

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

January 2012 - Vol 35

Rob GolfiSales Representative


HOME EVALUATION NO COST • NO OBLIGATION

905-575-7700 • 905-945-0188

Wishing Everyone

a Happy New Year

MarketWatch January A 2012_MarketWatch_Transfer.qxd 03/01/12 3:19 PM Page 1

Page 2 The Golfi Team Real Estate Market Watch January 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.

9 3 2 18

6 7

3 4 7 8

3 4 6 51 2

7 4

2 5 4 73 6

3 7 4 1

8 2

4 1 8 95

SUDOKUSUDOKU

957321 864

812543 679

634712 985

349675 128

761854 293

285497 316

523968 741

198236 45

476189 532

7

CLUES ACROSS

1 Reveal unwelcome secrets (about)

(4,3,3,3)

8 Game dog, used for its ability to

scent (7)

9 Capable of being corrupted (5)

10 Bound (4)

11 N French city with a distinctive

Gothic cathedral (8)

13 Very slow (6)

14 Small foot-powered pleasure

boat (6)

17 Not suitable as food (8)

19 Unsweetened; very dry (4)

21 Fertilizer from the waste of

seabirds (5)

22 Mosquito-transmitted disease (7)

24 Protected from danger (3,2,5,3)

CLUES ACROSS

1 Brink (3)

2 Flat broad limb of aquatic animals

(7)

3 Wield or carry something heavy (4)

4 Coarse (6)

5 Upside-down (8)

6 Proprietor (5)

7 Fail (4,5)

10 Making redundant (7,2)

12 Develop a good friendly relation-

ship (3,2,3)

15 Rice war? (anag) (7)

16 Female former pupil (6)

18 Strictly correct (5)

20 Burrowing marine mollusc living

in sand or mud (4)

23 One, some, every or all without

specification (3)

Crossword Puzzle(Solution on Page 9)

“I think the seller will accept your offer,but the Real Estate Board will

never approve that shirt.”


Call Today 905-575-7700

December 2011 The Golfi Team Real Estate Market Watch Page 3

GET YOUR HOME

SOLD 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

LOOK WHAT WE'VE SOLD!


OVER $460 MILLION IN REAL ESTATE SALES

stonEy CrEEk $299,900

1323 Baseline RoadBeautiful 3 BR brick bungalow! Oak kitchencabinets, open concept kit. overlooking LR &DR, circular oak staircase, Mbed w/4 pc ensuite& walkout, spacious bedrms, concrete walkways& patio, fully fenced private yard, rough-incentral vac & close to Fifty Point Conservation.


35 Riviera Ridge4+1 bdrm in prestigious loc’n! Fresh paint &crown mouldings. Plus porcelain tile, kulmhrdwd, main flr. den, lrg eat-in kit, livin rm, sep.dining rm & main flr. laun. New shingles (08) &undergrnd sprinkler system. Call 905-575-7700today.

Grimsby $349,900

3 Hewitt DriveEscarpment views! Features beautiful maplekitchen w/granite island & breakfast bar,hardwood & ceramics throughout, great roomw/cathedral ceilings & gas fireplace, incredibleopen concept floor plan, fenced yard, & a highenergy efficient home.

Grimsby $399,900

28 Sumner CrescentAwesome 4 bedroom home features slate &brazilian cherry floors, custom cherry kitchencabinets, custom drapery, professionally finishedbasement, new central air and furnace, new liner& pool pump '08, hot tub, mostly vinyl windows.

SOLD IN 15 DAYS

SOLD IN 37 DAYS

SOLD FOR 99% OF LIST

SOLD FOR 98% OF LIST IN 32 DAYS

Hamilton $349,900

15 Pinehurst DriveFantastic family home in mature East MountainBrow area. Features open concept living spacew/large principle rooms, gourmet kitchen w/top ofthe line upgrades, lots of living space, alibrary(w/walk-out), family room, living room, recroom, hrdwd & ceramic flrs, & a 60ft park like yard.


6 Darrow DriveGreat sought after location in Stoney Creek.Hardwood in living and dining rooms, big eat inkitchen, huge family room with a gas fireplaceover garage, concrete double drive, walkway andpatio. Separate dining room, fully finished bsmtwith extra kitchen. Call 905-575-7700 today.

Hamilton East $109,900

90 Hope AvenueRenovated 2 bedroom bungalow w/great hwyaccess. Double rear drive, all appliances included.Immediate possession available. Basementwaterproofing 25 year transferable warranty,updates includes flooring, bathroom and frontporch. Get inside! Call 905-575-7700 today.

Grimsby $299,900

14 Marlow AvenueCustom-built 3 bedrm bungalow, open & invitingfloor plan w/gorgeous hardwood, spaciouskitchen w/breakfast bar and sliding doors leadingout private fenced back yard, large master bedrmw/ensuite and double garage with 4-car drive.Near schools, parks and quick access to QEW.

Grimsby $379,900

442 Main StreetCharacter home set along Grimsby’s tree linedstreet. Features new kitchen, updated baths, newfurnace c/air & water heater, new shingles &plywood 2002, all vinyl windows, hardwd underall broadloom, 2 storey garage 45x26 ftw/finished loft above with furnace & bathrm.

SOLD FOR 98% OF LIST

SOLD IN 33 DAYS

SOLD IN 44 DAYS

SOLD TO MY CASH BUYER

SOLD FOR 98% OF LIST IN 11 DAYS

Grimsby $1,050,000

238 North Service RoadCustom built 2-storey waterfront property withstunning Lakeviews! Gorgeous hardwood floors,master bedroom with walk out to balcony & gasfireplace w/rich hotel style ensuite, soaring 10ftceilings, large designer kitchen w/granite, greatbig windows. Shows like a dream.

WATERFRONT

SOLD TO MY CASH BUYER


Rob Golfi*

Hamilton & Stoney Creek

Call Today 905-575-7700


if youwant it

SOLDCall Rob Golfi905-575-7700

or visit

www.RobGolfi.com


34 Barons Avenue3 or 4 bedroom home w/highway access, schools& shopping nearby. Loads of updates, somenewer windows, roof 2011, furnace & tank 1998,main bath remodelled & new bath in basement.Fully fenced yard w/gate at driveway. Rear patio& big shed.


1026 Highway #8Big bungalow in Stoney Creek on the Winonaborder! Country living minutes to Eastgate Mall& easy hwy access. Big bright rooms & updatedfurnace, c/air & windows, 2 car parking, big frontdeck, easy care lawn & landscaping, great value,& fantastic neighbours! Call 905-575-7700.


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!


121 King Street EastBring your tool belt and make this your dreamhome! Fantastic opportunity on large L-shaped77.83 x 142.60 foot lot! 1.5 Storey all brickhome with partially finished basement. Close toall amenities walking distance to downtownStoney Creek. Make an offer!

Hamilton $119,900

64 Edgemont Street NorthAmazing value in this 3 bedrm bungalow!Features incl. laundry on main floor, 1 bath, anunspoiled basement, side parking & great frontporch. Huge fully fenced yard w/on-ground poolsurrounded by deck & gardens. School is withinwalking distance. A great family neighbourhood.


194 Millen RoadOld world charm w/modern conveniences.Beautifully renovated 2-storey with maplehardwood & ceramics on main flr. Family-sizedmaple kitchen w/tumbled marble backsplash &pot lighting. Large Master w/rich hotel styleensuite & W/I closet. Fresh paint, vinyl windws.

Hamilton Ctr $79,900

11 Keith Street3 bedroom Semi! Granite cunters & floors,crown molding, 100 amp breakers, finishedbasement, roof 2010. Main floor has openconcept eat-in kitchen, dining room and livingroom. Upstairs has 3 spacious bedrooms and afull bathroom. Great family home!

Hamilton mtn $324,900

65 Princeton DriveThis all brick oversized 4 level back split infantastic Sherwood heights neighborhood isavailable for immediate possession! Featuresupdated vinyl windows, updated shingles, beautifulhardwood & ceramic flrs, second kitchen in lowerlvl, great in-law potential, sun-rm, & fence yard.

stonEy CrEEk mtn $279,000

129 Slinger AvenueCharming raised ranch. Beautifully landscaped,ideal for growing family. Features new stylishkitchen with pantry & breakfast bar, hardwd flrsin front room & hallway. Enjoy lounging in thefully finished basment w/bedroom & bathroom.Close to amenities & schools.Call 905-575-7700.


399 Fairfield AvenueSpacious 1 BR bungalow! Incl updated kitchenw/lots of counter space, fenced yard, new roofshingles & high efficiency furnace (gas on equalbilling $66.00 month!), 100amp on breakers, big reardeck w/awning, A/C, big bathrm & lots of storagein bsmt. Can be 2 BR if needed. Shows great!

Hamilton $339,900

202 Winston PlaceWalk to Mac!! All brick 3+3 bedroom home!Newer shingles, new windows, Hi eff furnace &C/Air (07), oversized water heater (05), newerplumbing & water line. Bsmt waterproofed, smokedetectors handwired, Ethernet/cable in all rooms!$2100 income per month tenants pay utilities.


21 Watercliff PlaceStunning 4 bedroom Lake Pointe home steps fromthe lake and near 50 Point Marina. Large formalliving & dining room, eat-in kitchen with granitecounters. Master has and his/hers closets & spa-like master bath with soaker tub. Patio doors leadto deck with gazebo and large backyard.


35 Ivybridge Drive2400 sq ft. home overflowing w/upgrades incl. 9 ftceilings, hardwood flrs, loaded kitchen w/granite countertops, formal dining rm, slate floors, crown moulding,spiral staircase, showcase gas fireplace, 4 large sunnybedrms, rich hotel style ensuite bath, main floor den,bedrm level laundry, backing onto green space with pond.

Hamilton $104,500

18 Francis StreetBig home w/loads of updates, great private yardw/concrete patio, big fully fenced garden withshed, room for a big RV & 3 car parking. Homeshows great. Close to General hospital. 100 ampbreakers, new shingles in 2009 (stripped), newwindows, siding, furnace and central air in 2008.


29 Peachwood CrescentImmaculate 4+1 bedroom home in sought afterStoney Creek neighborhood. This 2,060 SqFthome features open concept layout, 4+1bedrooms, ensuite and walk-in off masterbedroom, separate dining room, hardwood inliving room, fully finished basement.

Hamilton $1,900/montH

87 Mountain Park AvenueLease property. Prime Location on MountainBrow over looking the city with amazing views.Close to hospitals, public transit, highways andall amenities. Credit Check, Rental applicationrequired for all offers, tenants pay all utilities.One year lease required. Easy to show.

Hamilton $149,900

101 Cope StreetBIG 1.5 STORY on a great street in the East end ofHamilton. Old world charm, big front porch, wide driveway,good size garage and backyard, mud room in the back forstorage or play area. Walk to school and major bus line,shopping nearby. Hardwood under carpet in big living anddining room. Basemt laundry and storage. Quick closing.


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 $379,900

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.


Grimsby $268,500

101 Magnolia CrescentEnd unit townhouse in fantastic area. Featuresnew painted maple kitchen w/glass backsplash,new hardwood in LR/DR. Finished basementw/built-in for media center. Centrally locatedclose to shopping, parks, hwy access.

bEamsVillE $249,900

5143 Connor DriveFabulous end unit freehold Bungalow 1110 sqftavail. for 60-90 day closing. Come & visit ourmodel home & wowed on this Energy Guide &Tested home. Incl. great size BRs w/4pc ensuiteoff master, kitchen area overlooking family rm,attached to neighbouring unit at the garage only.

Grimsby $324,900

24 Red Haven DriveBright and Airy. Lovely one floor semi in astylish neighbourhood. This home features alovely eat-in kitchen, spacious living rm/diningrm w/ open staircase to finished basementcomplete w/ large fin recroom and extra bedrm

Grimsby $329,500

6 Brentwood RoadBetter than new! This completely updated 3 levelsidesplit has everything. Hardwood throughout,new maple kitchen, updated furnace & C/A, allupdated vinyl windows and doors. Beautifullydecorated. 12'x30' garage. Close to town on quietcul-de-sac. Call today!

st CatHarinEs $394,000

40 Glenridge AvenueStylish Old Glenridge Living. This stunning 1-1/2 storey beauty provides the classic beautyof its age and the updates you would expect.This 3 bedroom home oozes character from themoment your drive up!

Grimsby $369,900

519 Ridge Road East1.37 acres on escarpment ravine near BruceTrail! Features geothermal system Jan ’10,insulated roof, newer windows, amazing lowenergy costs, large 2.5 car garage, large deckw/above ground solar heated pool, and charmingcedar-sided home with large eat-in kitchen.

bEamsVillE $339,900

4092 Mountain StreetWant quality, this house is for you! This one flrplan incl. $20,000 in extras, California knockdown ceilings, rounded corners, 120 sq.ft. ofhrdwd flrs, upgraded trim package, maple kit,asphalt drv & much more! Approx 1445 sq.ft.similar to be built.

smitHVillE $274,900

8 Cherry Avenue5 years new! Raised ranch in fantasticneighbourhood. Features 1142 sqft of openconcept space.Gas fireplace in living room,large bright bedrooms. 13' X 25' concrete patioin fenced in back yard. Call the Golfi Teamtoday for a private viewing.

Grimsby $276,900

5 Bayview DriveGreat Value! 3 bedrm, 2 storey home updated w/furnace/ac & kitchen complete w/new cabinetrycounters & flooring(2011), concrete drive &patio door & basement windows(2010). Masterbedrm w/ensuite & partially fin basemnt.

Grimsby $249,900

41 Kenyon CrescentFabulous freehold end unit townhouse! Openconcept main flr w/kitchen, dinette & living rm.Patio door overlooks fenced yard & a 2-tieredwooden deck. Lrg master w/full wall closet, plus2 extra large bedrooms & a 4pc bath. FinishedRec rm w/2pc bath & area for a home office/bar.

bEamsVillE $236,900

5137 Connor Drive2 Storey freehold town home 1386 sq.ft. Similarto be built. Features includes great sized BRsw/3pc ensuite & walk in closet off master, kitw/breakfast area overlooking family room,available for 60 day possession, access fromgarage to rear yard, & min to all amenities.

WEst linColn $328,500

9407 Silver StreetAmazing updated home on 100 x 200 ft lot, builtin 1953, has an open concept living room/diningroom with hardwood floors, huge master suite,New high efficiency gas furnance/CA, updatedmain bath, entry doors, & water conditioner.Bonus room over the garage.

bEamsVillE $749,900

4816 Mountainview Road North2 storey, 3000 sq.ft. on 6.75 acre hobby farm!Upgrades incl new hardwd, new kitchenw/granite, new carpeting w/up-graded under pad,Mbed rm w/luxury ensuite, 3 season sunrm, gasFP, new c/air & furnace, updated shingles, 2storage out buildings, & quick access to QEW.

VinElanD $310,000

3380 Dustan StreetLakefront community living in comfort and style.This 2 bedroom bungalow features relaxing frontporch, 9ft ceilings, 2 full bathrooms, central airconditioning, spacious deck off of kitchen, mainfloor laundry. Homeowner Assoc. fee $30/mo foruse of waterfront clubhouse and beach.

Grimsby $176,900

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.

Call Today 905-945-0188

Rob Golfi*

Grimsby, Lincoln & West Lincoln Area

January 2012 The Golfi Team Real Estate Market Watch Page 5

HomeevaluationNo Cost or Obligation

Call the Golfiteam today!

905-575-7700


www.golfiteam.com


Ashley SidlerSales Representative

Mike McNeilSales Representative

Rosemarie FournierListing Co-ordinator

Jaclyn RossOffice Manager

BONDSEAL CANADAThe Waterproofing Specialists

Specializing in Concrete Crack Repairs:Dry, Seeping or Gushing

All MethodsInterExterior

John [email protected]

Together… Delivering More!

Home evaluationNo Cost or Obligation

Call Rob Golfi today!

905-575-7700 / 905-945-0188

Maximum ExposureSells Your HomeCall the Golfi Team to get

your Home Sold

905-575-7700905-945-0188

www.golfiteam.comThe Golfi Team is ranked in the Top 100 Re/max Teams in Canada.

Sharon StaffordSales Representative

Heather ReidSales Representative

Hans MarcellissenSales Representative

Wendy Murray-NicholsonSales Representative

MenusOnly.com is an online restaurant menu guide connecting

you with great restaurants in the Hamilton and Burlington areas.

Browse through restaurant menus, view pictures of restaurant

dining areas, patios, and menu items, and print local restaurant

coupons all in one place. MenusOnly.com – a perfect dining expe-

rience starts here.


Call Today 905-575-7700


HISTORY CHART 1955-2011Residential & Condominium, Farm, Vacant Land,

& Business, Hamilton, Burlington & Surrounding Area

NUMBER OF NUMBER OF TOTAL DOLLAR AVERAGE

YEAR HOMES LISTED HOMES SOLD VOLUME SELLING PRICE

1955 6,412 2,552 $25,933,747 $10,162

1956 8,606 3,790 $40,769,888 $10,757

1957 8,755 3,773 $43,928,799 $11,643

1958 9,694 3,426 $41,636,856 $12,153

1959 9,296 3,403 $43,067,075 $12,656

1960 9,114 3,037 $39,304,822 $12,942

1961 10,230 3,063 $39,166,153 $12,787

1962 10,205 3,100 $39,720,500 $12,813

1963 8,582 3,330 $44,306,337 $13,305

1964 8,531 3,759 $53,532,765 $14,241

1965 8,671 4,599 $69,589,274 $15,131

1966 9,322 5,114 $86,964,089 $17,005

1967 10,143 5,522 $107,322,067 $19,435

1968 11,094 5,665 $123,308,631 $21,767

1969 11,578 5,326 $124,461,396 $23,369

1970 12,603 4,304 $104,857,879 $24,363

1971 12,072 5,229 $129,458,870 $24,758

1972 11,918 5,821 $159,695,737 $27,434

1973 11,070 6,210 $208,752,098 $33,615

1974 13,511 5,941 $252,660,101 $42,528

1975 16,382 7,841 $356,962,723 $45,525

1976 18,712 6,251 $313,942,966 $50,223

1977 20,355 6,769 $349,660,825 $51,656

1978 20,986 6,424 $348,288,666 $54,217

1979 19,676 6,834 $385,131,691 $56,355

1980 21,376 6,699 $398,041,113 $59,418

1981 20,515 7,126 $445,511,231 $62,519

1982 20,798 6,466 $404,899,847 $62,619

1983 20,792 8,844 $588,979,771 $66,597

1984 21,760 9,131 $620,175,677 $67,920

1985 20,983 11,396 $886,362,255 $77,778

1986 20,675 12,286 $1,136,344,284 $92,490

1987 25,571 11,392 $1,331,338,599 $116,866

1988 26,785 13,810 $1,900,870,640 $137,644

1989 28,318 12,439 $2,095,459,068 $168,458

1990 36,238 7,745 $1,299,341,482 $167,765

1991 36,187 8,350 $1,356,979,854 $162,512

1992 32,767 9,049 $1,370,502,738 $151,453

1993 29,835 8,199 $1,185,126,368 $144,545

1994 27,716 8,817 $1,302,315,456 $147,705

1995 25,887 8,185 $1,173,098,098 $143,322

1996 22,999 10,784 $1,554,507,479 $144,149

1997 21,518 10,612 $1,648,968,336 $155,387

1998 21,273 10,654 $1,662,251,354 $156,021

1999 19,135 11,206 $1,785,365,893 $159,322

2000 22,550 10,941 $1,805,188,967 $164,993

2001 21,366 11,896 $2,055,999,217 $172,831

2002 17,811 13,154 $2,422,547,269 $184,168

2003 18,518 13,478 $2,707,081,423 $200,851

2004 19,089 13,817 $3,011,698,424 $217,970

2005 18,695 13,955 $3,297,817,699 $236,318

2006 19,283 13,640 $3,441,982,496 $252,345

2007 19,570 14,411 $3,932,171,748 $272,859

2008 19,699 12,445 $3,577,212,595 $287,440

2009 17,998 13,160 $3,872,206,935 $294,241

2010 20,279 13,440 $4,226,894,801 $314,501

2011 20,195 14,407 $4,853,013,142 $336,851



Call Today 905-575-7700

Visit our Website!View any of the listings

in this publication atwww.GolfiTeam.com

Extra pictures, More details Check it out!

The following article addressesthe commonly asked what willhappen to my house in bank-

ruptcy question.We all dream of home ownership.

But what happens when the Canadiandream of owning your own home doesnot work out as well as expected?

It costs a lot of money to own ahome. You have mortgage payments andproperty taxes. Your gas and electricitybill will be higher than when you lived inan apartment, because your house is big-ger.

Of course everyone wants furniturefor their bigger house, and that costsmoney. Unfortunately many Canadiansbuy a new home and then go to a furni-ture store that offers a “buy now, pay laterdeal”. It sounds great: I get my furnituretoday, and I don’t have to pay for it for ayear. It’s great until next year comes, andnow you’re faced with a huge bill for fur-niture that you can’t afford.

If when the furniture bills comes inyou have also lost your job, or perhaps

had your hours cut at work, you now havea problem.

For many people the only solutionmay be a personal bankruptcy.

What will happen to your house in

case of bankruptcy?

While the laws are slightly differentin each province, the basic concept is thesame. You can’t keep a house in bank-ruptcy if you have a lot of equity in it atthe time when you go bankrupt. (You cancalculate your home’s equity by subtract-ing the mortgage and property taxesowing from the value of your house).Obviously it’s not fair to your creditorsthat you keep money while their debts arebeing discharged.

If your house has little or no equity,you can usually make an arrangementwith the mortgage company to keep pay-ing your mortgage, and keep your houseafter filing bankruptcy.

If your house has substantial equity,your trustee will either seize your houseand sell it, or make arrangements withyou to repay your equity (perhaps by you

borrowing from friends or family, or get-

ting a second mortgage to re-purchase the

equity from the trustee).

The rules regarding houses and

bankruptcy are somewhat complicated,

so to find out how they will apply in your

specific situation and for details on what

will happen with your house after filing

bankruptcy, we recommend you to con-

tact a bankruptcy trustee. -

What Happens To My House After Filing Bankruptcy?



www.golfiteam.com

Sell your Home Fast

for TOP DOLLAR!Call the Golfi team today!

905-575-7700

Invest in Surrey real estateand you won’t go wrong,according to Real Estate

Investment Network (REIN) presi-dent Don Campbell.

“Outside Vancouver, theeconomies are pretty darn strong,”says Mr. Campbell, the outspokenpresident of REIN and author ofReal Estate Investing in Canada.

REIN recently released its listof the top investment towns in B.C.,based on its constant region-by-region study of the market. For thethird year in a row, Surrey tops thelist of best investment towns in B.C.Surrey is followed by MapleRidge/Pitt Meadows, Kamloops,Abbotsford, Dawson Creek, Fort St.John, Kelowna, Comox Valley,Penticton and Prince George roundout the top 10. Vancouver is at No.11.

Overall, the report is a positiveoutlook for British Columbians.Contrary to naysayer reports, hesays the economy in B.C. is strong,and the future looks brighter thanmedia reports would have residentsbelieve.

“From a job perspective, wehave more people working nowthan before the recession. Jobs haveshifted geographically – they havereally shifted out west ... so it’s pret-ty good, yeah.”

Surrey’s top dog place on thelist – and No. 4 on REIN’s bestinvestment towns in Canada list – istestament to its public imagemakeover.

It used to be that Surrey had atarnished image, mostly because ofits high crime rate.

“I grew up in Whalley, and itwas dramatically different when Igrew up in the 70s and early 80sthan it is now, that’s for sure,” saysShaun Greffard, Surrey’s generalmanager of investment and inter-governmental relations. “Therehave been some fundamentalshifts.”

REIN operates out ofAbbotsford, with a membership ofmore than 3,000 investors acrossCanada who own nearly 30,000properties across Canada. Theytravel to various towns each year todetermine which regions are mostinvestment-worthy. Let’s just saythat their cavalcade of tour buses isusually the talk of the town.

Once a year, members convergeon a town, stay at a hotel and travelby buses to look at infrastructure,schools, libraries, arts and culturevenues, trail systems, housing,industrial parks – whatever featureshelp them decide where to put theirmoney. They also meet with mayorsand economic development officersto determine if the local governmentis going to ensure better highways,bridges, rapid transit and downtowndevelopment. The criteria to beinvestment-worthy include thepotential for jobs, gross domesticproduct growth, income growth andpopulation growth. They are notlooking for housing booms. In fact,if a region is enjoying a housing

boom but without GDP job growth,then that boom is most likely a bub-ble that is bound to burst.

“If you don’t have GDP and jobgrowth on a consistent basis, andthe real estate market continues tomove up, you are going to see aninevitable correction,” says Mr.Campbell.

What you want is a real estatemarket, not a speculative bubble. Areal estate market involves newpopulation growth and people whotypically rent for three to five yearsbefore buying. REIN investors arelooking for regions where thatgrowth is about to happen, and theypurchase properties on the upswingof that growth, which is about afive-year plan. For example, it takestime for vacancy rates to drop, aftermore people have moved in. Thenrenters will typically become home-owners.

“I’m trying to identify long-term markets,” says Mr. Campbell.“It’s not like stock investing, whereyou can get in and out. You wantyour money to go where the peopleare going to go.

“For example, the immigrationinto Edmonton, Calgary andSaskatoon is unbelievable. But peo-ple say, ‘the real estate market thereis flat.’ That’s the point. You seepopulation growth first, then thevacancy rate goes down, and 18months later, after populationgrows, then you see the upwardpressure on real estate. It’s incredi-bly predictable. This is the underly-ing economic analysis.”

With a reduced crime rate andbetter image, Surrey is becomingrecognized as an affordable, centralmetropolis that is a major draw foryoung families. About one third ofits 500,000 residents are under 19.

The region has boosted its pop-ulation with jobs and the lowest res-idential taxes in the region, gener-ous housing stock, and its develop-ment of a transit-focused commer-cial core called City Centre. It’spossible to buy a condo in Surreyfor $150,000, which is a rarity inVancouver. As a result, Surreygrows by 800 to 1,000 people permonth. As well, it has the highestbirthrate in B.C., with about 400babies born every month.

“There’s the opportunity forindividuals to get into the real estatemarket in Surrey – where that mightnot be the case in other areas whereit’s less affordable, like Vancouveror West Vancouver, and evenBurnaby and Richmond,” says Mr.Greffard. “Not to say prices haven’tappreciated, because they have inSurrey, but there is more volumecoming onto the market. And withthe City Centre development, thereis higher density development goingon.”

Maple Ridge and Pitt Meadowsare second on the list because thatregion too is currently affordable,and also set for major growth due tothe new Golden Ears Bridge. MapleRidge, which has a population ofabout 76,000, has also spent a lot ofmoney developing its downtowncore. Pitt Meadows is much smaller,with around 18,000 residents.

“I think we’ve spent over $100million over the last 10 years,” saysformer Maple Ridge councilorCraig Spiers. “We’ve given incen-tives on downtown development,and the uptake has been incredible.

“And we’ve had $1.2 billionworth of bridges built to connectour communities.”

Mr. Spiers said he worries aboutgrowth cutting into farmland that’spart of the Agricultural LandReserve, which would make thebucolic region less desirable.

“You don’t want to make the short-term mistakes that produced Surrey.They realized their mistake, and theyare coming back. They are doing a

great job, but it’s been difficult.” -

By Kerry GoldSurrey, BC - Globe and Mail

Surrey BC Tops Real Estate Investment List

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Bump Up Your Credit Score

Credit score in not just anumber obtained throughthe statistical analysis of

your credit report. It is an efficient,reliable, unprejudiced and reasonableunderwriting tool that helps themortgage lender to evaluate yourcredit worthiness. In other words, ithelps them to ascertain the amount ofloan that you will be able to pay backin a timely manner. Thus, byimproving your score, you can boostup your chances of getting amortgage home loan at a better rate ofinterest. Here are a few realistic waysof improving your score.• Pay your bills before the due

date – The payment history in yourcredit report shouldn’t bear anynegative marks because theseblack points remain on the reportfor no less than 7 years. For anexcellent payment history, pay allyour bills before the last date. Ifyou don’t pay the bill for morethan 30 days, a negative mark will

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The best way to make this possibleis to wind up the debt backloadbefore taking up a new loan. Allyour efforts to stick to the 20%limit will leave a positive effect onyour credit report.

• Keep your credit report spick andspan – Inconsistencies and errorson the credit report serve to ruinyour credibility as well as yourscore. Hence, they should not onlybe detected at the earliest, butshould also be rooted out. If youare unable to track down the errors,then you can engage a credit reportmanagement company to get thediscrepancies removed as quicklyas possible.

• Be vigilant while opening newaccounts – In a bid to allurecustomers like you, credit cardcompanies provide countlessirresistible offers and discounts.Instead of grabbing each one ofthem, do a bit of research to findout the best available option. This

is important because each creditenquiry would serve to knockdown your score.

Experian, Equifax are two majorcredit bureaus in the Canada. thathave the reputation of calculating thecredit score accurately. The first thingthat you should do is to get your scorecalculated. Thereafter, follow theabove mentioned tips ardently toimprove it. In a short period of time,the positive results will start

appearing on your credit report. -

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It’s a scenario all everyone dreadswhile viewing the home of theirdreams. Every room is better than

the last and you're falling in love with theplace, when suddenly you recoil in horrorand beat a hasty path to the door. The cul-prit? The harsh spectre of mould.

Homebuyers often have concernsabout mould, but are their fears justified?What do you need to know to protectyourself? What is your REALTOR'S®obligation.

Although thousands of types ofmould exist, only a few are actuallyharmful to people. Toxic varieties, suchas moulds from the genus Stachybotrys,can produce chemicals linked to varioushealth problems including sinus infec-tions, asthma and certain respiratoryinfections. However, mould must gener-ally be present in large quantities to havea noticeable effect on most people.

Mould eats wood cellulose and canpotentially affect the structural integrityof wood. Some insurance companieshave excluded mould damage from bothfirst party and third party coverage.

Property owners may be able to obtaincostly site-specific environmental insur-ance that specifically includes mouldcoverage.

Mould is caused by water damage orexcessive humidity, poor ventilation sys-tems, wet construction materials or poorconstruction or design. Mould travels onair currents and is all around us, and so itis difficult to find a house that is com-pletely mould-free.

The smell should be the first red flag.Beware of a home that has been nicelyrenovated and freshly painted but thesmell is bad! There may be a musty,mouldy smell, that plug-ins and potpour-ri are trying to cover up.

Use common sense. During a homeinspection, the inspector cannot openwalls. Therefore, you may need to rely onyour sense of smell. If moisture damagehas built up in the basement over theyears, the smell will reveal it right away,regardless of how nice it looks. Don’t letsomeone convince you that it’s not a bigdeal, because it can be. Until someoneowns the home and can rip the wallsdown, they won’t know the severity ofthe problem.

Sellers may need to spend somemoney if there’s mould in their home. Itcan't simply be "glossed over". It mayonly be a minor issue involving a lack ofcirculation in the basement, or it could bea serious case of black mould comingthrough the drywall or baseboard, whichprobably needs to be ripped out. Youcan’t just wipe it off. Either way, the issue

causing the mould must be solved and thearea has to dry out.

A REALTOR® should be able toidentify signs of water damage or mois-ture problems when listing your homeand, if needed, advise you to obtain serv-ices from a home inspector or other pro-fessional.

When viewing properties, be sure toinspect moisture-prone areas such asbasements, bathrooms and kitchen cup-boards. Mould behind a wall or underwallpaper will not be visible to you, butsigns of mould include:• discolouration on finishes • staining • spotty patterns revealing visible

mould growth (which may indicate alarger, unseen problem)

• musty smells. Mould issues can usually be

resolved. The moisture or water sourceneeds to be located and stopped, and thenthe mould needs to be removed. If theproblem turns out to be widespread andremediation is necessary, it’s important toensure that the entire problem area isremediated, otherwise the mould infesta-tion could return.

A proper home inspection mayuncover indications of mould or structur-al deficiency issues, although there is noguarantee that it will. However, aninspector cannot speak to chemical con-tamination or health risks. The inspectormay recommend that the homeownerenlist the services of a mould investigatoror “sick house” consultant.

Disclosure of any information thatmight affect either the decision to buy aproperty or the value of a property isalways the best policy. Your REALTOR®should recommend that a selleer discloseany and all defects and recommend ahome inspection for buyers.

REALTORS® should advise sellersto disclose upfront any water problems orthe presence of mould, including casesthat may render the premises harmfuland/or unfit for habitation. If you are inany doubt, seek legal counsel. The bestadvice for buyers is to beware. If buyersor sellers have any concerns about anyaspects of mould, they should consultwith lawyers, home inspectors and insur-

ers. -

Break out of the mould: Watch for mould and water damage in homes

The Canadian Press

TORONTO Canadian housingprices have been going up thisyear but are showing signs of

levelling off, according to a Scotiabank realestate report.

The report looked at real estate marketsin 10 developed economies and foundCanada was the top performer in the thirdquarter in terms of inflation-adjusted priceincreases.

Canadian home prices were up 4.8 percent. By contrast, home prices in the UnitedStates were down 7.5 per cent comparedwith the third quarter of 2010.

Only two other countries — France andSwitzerland — showed increases in housingprices in the quarter while there weredeclines in the seven other markets tracked.

Scotiabank says home prices havebeen weighed down in many countries bythe slow pace of economic recovery, con-cerns about government debt levels, weakconsumer confidence and high unem-ployment.

In the United States, where there isa lingering oversupply of unsold andforeclosed properties, a sustainablerecovery could still be several yearsaway, the report says.

In Canada, the majority of localmarkets are experiencing a balancebetween demand for housing and thesupply of properties for sale.

The report notes Canada is in the13th year of the current upward pricingtrend — a relatively long time consider-ing that market cycles in the advancedcountries average about 12 years.

“While the sector’s continued buoy-ancy is impressive, monthly data throughNovember suggests prices have levelledoff since the spring, with conditions in themajority of local markets in ‘balanced’territory,” Scotiabank’s report says.

“Ultralow interest rates are stillattracting buyers, but increased econom-ic uncertainty combined with somerecent slowing in the pace of hiringcould dampen demand in the new year.”

The Scotiabank report is consistentwith an analysis this week from RBC butless gloomy than a projection from Bankof America Merrill Lynch.

Craig Wright, RBC’s chief econo-mist, said Monday he fully expectsdomestic demand will cool, includinghousing, given that household debt lev-els reached an all-time high of 150.8 per

cent of disposable income in the thirdquarter.

In the past year consumer householddebt grew, but at the slowest pace since2002, Wright said.

In a separate paper, Bank ofAmerica Merrill Lynch said Canadianhome prices are “showing many of thesigns of a classic bubble.”

“The only way these valuations canbe explained is by the record low mort-gage rates. Under more normalizedinterest rates, home prices would actual-ly look 25 per cent overvalued based oncurrent prices,” the Merrill Lynch econ-omists said.

Even so, Merrill Lynch said itexpects Canadian home values to droponly five per cent in the first half of next

year. -

Canadian home prices beginning to stabilizeafter buoyant period: Scotiabank

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Jan 1, 2012 Issue 39