Single Women Accounting For A Big Portion of Home Purchases | The Golfi Real Estate Show - Hamilton Edition (March 20)

On this week's Hamilton edition of The Golfi Real Estate Show, Rob Golfi and CHML host Rick Zamperin talk about single women making up a significant portion of real estate sales, top five common anxieties for first-time homebuyers, Canadians bouncing back from the big city exodus, and what's been happening in the appointment centre.

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Transcript

Good morning Hamilton. This is Rob Golfi with the Golfi team. Welcome to the golf real estate show Hamilton edition with host Rick Zambrano. Rob Golfi is a sales representative with Remax Escarpment Realty. The Golfi team. You can find them online@robGolfi.com. That's Rob G O L F i.com. Call Hamilton and Burlington's number one Remax team in volume and unit sales at (905) 575-7700.

That phone number again, nine Oh five. Five seven five seven seven zero zero. Follow the Golfi team on social media, whether it's Facebook, Twitter, or Instagram. And if you have an email or a topic idea for a future program, send them an email questions@robGolfi.com. Again, that's questions@robGolfi.com.

We have a lot of things are really interesting topics that we're going to get to today. We're going to talk about single women. Purchasing a lot of homes in the fourth quarter of 2020 in the U S and what that might tell us, uh, we'll talk a little bit about newer versus older homes. Uh, co-signing of apparent co-signs what happens if a certain situation comes about, we'll get into that little later on in the show.

We'll also talk about buyers remorse. How common is it? But to begin today, we're going to dive into some outstanding numbers. Once again. For the Golfi Teams appointment center, these numbers are just astronomical. Yes. Um, we're finding actually, if I compare it to last week, Now, this is based on March 7th to the 13th, right?

So the appointment center found that Thursday even also became a big day for appointment. So for instance, like I liked, I liked listing on because of the appointment center. Uh, we, we can gauge when the biggest days are for appointments and Fridays are usually the biggest day, but last week, uh, Thursday was also a big day, but I like to list on Thursday.

Uh, just because of the fact that we know out of town, age, uh, out-of-town agents, not a town, uh, people they're coming down for the weekend. So you, to you, if you want to sell your house, you want to sell it with a maximum exposure by listing on a Thursday, you are going to get that. So we're, so we actually have a house that we listed on Thursday and we got tremendous amount of action on it.

It was close to 1.2 million. Now we're going to get probably multiple offers on that. And, and the thing is, uh, and because of that, uh, again, we will get multiple offers, but we had the maximum exposure now by listed that on Monday now. So we would have had a couple of showings, you know, bunch of showing still, but not the maximum showings.

And we probably could have got an offer in a Wednesday or Thursday, but then people are just starting to book for the weekend and then you wouldn't have had the maximum exposure. So the best time. In my opinion is to listen on a Thursday and you got the weekend and because people want to go in buy and that's it.

So we're going to get a multiple offers on this $1.2 million house that we listed on Thursday. And we're getting tremendous amount of action, but look, but if you look at this. Uh, not lot last year versus this year, uh, for March. So, uh, the total appointments for March, 2020 was 9,586. That's the whole month of March.

So the total appointments from March 1st to the 13th and 2021 is 12,633. We're all really already up. We're gonna more than double, um, the appointment. In, uh, once this month is over. And, and the reason why I know that our, our sales numbers are, are way higher this year for March than it was last year. Now, again, last year we, you know, half halfway through the month, you know, the COVID hit, everything got shut down.

But some sales were still happening. But what I'm saying is, is that it's just gone through, it's still, it's the market's still hot. It's still moving and appointments are being made and, and there's still, there's still an exit is coming in from out of town everywhere. So with 18 days left in, you mentioned this with the stance you just gave out 18 days left in the month.

Uh, you guys have already booked more appointments than all of March of 2020, and there were three records. That were set a new record Thursday, 1,324 appointments. That's just one day a record single day ever on a Friday, a 1,582 appointments and a record Saturday of 1,124 and a record overall week of 6,802.

So I guess there's four there's four records there. 6,802 appointments, um, overall for the week. Are you sensing, are you sensing any slowdown at all coming up? Because it seems like it's going the other way. It is. And it's like, you know what? I was talking to some guys in Mississauga and they said, it's slowing down.

But, but you have to understand when you're talking to different realtors, some realtors that may not be as busy as other realtors. So, um, and if the ones that aren't as busy, they're not a good indicator of getting information from. So, um, so the guy that I was talking to is he's not as, as busy as, as we are.

But he did say, um, the market has cooled a little bit Mississauga. So I don't know if we're going to experience that in a week or two from now, but, um, but, but it's not showing any sign of slow down right now in, uh, in the Hamilton, uh, in Niagara area. So it just it's, it's just incorrect. I should mention too, that the price point in Mississauga is different than that of Hamilton as well.

So then they might, they might be seeing a slow down there, but Hamilton still with its even elevated price point is still attracting a lot of buyers. Oh, absolutely. Um, it, it is, it is going to attract a lot more buyers and we're still affordable here for, especially, uh, and, and people are moving away from, uh, the area, but just, just incredible though.

Uh, like it doesn't and, and, and CMHC, I think, indicated, or the banks indicated that, that it is going to be. A busy year this year, they feel that the cool-down is going to happen probably in 2022. Um, but it's hard to tell we're all predicting it. I mean, I mean, people thought the market was going to go down, uh, of March of last year and look at it and it went the opposite way.

So, so basically. We got to listen to everybody and just go the other way. So there's a couple of other stamps on this appointment center, uh, charts that were both eyeballing and again, 6,802 appointments booked during the week of March 7th to the 13th. That was 8% more than the previous week. But one stat that has caught my eye is there were 316 new listings that week.

There were also 316 total property sold that week. So, uh, as many homes that were listed. The exact same went out the door or, or, or were gobbled up by, uh, buyers, which means that the supply demand issue, uh, did it, did change any, are we seeing more homes come on, the market, more homes are coming on the market.

We're seeing the inventory coming up, but, uh, but it's, it's, it's the supply. The demand is it's being fulfilled. So we're still, we're still, there's still a shortage of homes. Uh, there is still way more demand. And, but what we are seeing more houses coming on the market. And, but, but again, it's just, there's not enough homes coming on the market and it's, and it's, and it's driving the price still strong, uh, from week to week, the top five price ranges have not changed at all in Hamilton, Burlington or Niagara.

The sweet spot in Hamilton is still 550,000 to $600,000 in Burlington. It's one to 2 million and a Niagara it's four 50 to 500 K. Um, not a lot of fluctuation, even with the secondary sweet spots as well. In terms of the price ranges, do you anticipate those numbers kind of being steady over the next? It will be, it will be anything like anything in Hamilton.

Uh, under 700 is like gold and I, and I was just checking the system. There was 15 property listed, uh, between, um, uh, uh, one on 100,000. And uh, 400,000 in Hamilton and surrounding areas. There's only 15, 15 of them and every single one of those properties, like I look, I look at it even for myself, you know, to buy personal for investment.

Every single one of them had holding offers, holding offers, holding offers, holding offers every single one of them. And, uh, and I was just telling my assistant. I go, boy, they're making it tough to buy a house in this town. Like I'm looking at it myself as a, as a consumer buying. Yeah. And, and it is tough.

I get it. I get it. Cause like, I look at him and, you know, properties or investments and stuff like that, but, but it is difficult, uh, to get one. Uh, as an investor, but as a, as a person that's buying one to move in, uh, under 400 detached homes, there's only 15 in Hamilton and surrounding areas right now that are available.

And that's insane. It's just not enough. It's not enough. So you just said that homes that are, uh, you know, around $700,000 are gold in Hamilton. So if, if there's a home seller out there, who's done their homework and they wanted to hire Rob Golfi or someone on the Golfi Team to represent them in this, uh, sale of their home.

Um, would you recommend that, Hey, if the home is seven 50, you're going to list at under seven, just under maybe six 89, six 99 to attract a few more eyeballs. If that house is worth 700, I would list it at six 50 and chances are, they may get close to 800 for that. That's what I would list that house for.

Uh, and, and, and, and strategically you've got to do it. It takes a little bit of experience, you know, because if you're not used to it, um, you're, you, you can end up blowing the whole thing. We just had one in Grimsby that I saw, uh, and a lady listed it at $998,000 on a bungalow. Um, I can't remember how many square feet, maybe 1200 square feet.

Fully renovated and everything in a great neighborhood and everything. When I saw that she was holding off or I go big rookie mistake, that that is a mistake that a rookie agent is doing. And, uh, and I, and, and, you know, I've watched this because I watched this house. I wanted to see it, where it was going and what happened, uh, two days after it, uh, they had the, uh, offer holding offers.

It didn't sell no offers nothing. So she actually hurt that listing more than anything. Now she listed, it did not put holding offers. There's a high probability that it would have been sold today. Um, and she, but again, like you, you got to know the market. If you don't know the market, You will, you will hurt your, your client and, or you were hurt, hurt yourself.

The market is you just got to know it. And sometimes when we walk in on appointments, where a lot of times, you know, the homeowner, like, you know, we tell them the market, but that if we give them the wrong number, they kind of disregard everything we say. And if another guy walks in, that's an amateur agent or whatever says, Hey, I can list your house for, you know, 200,000 more than the other one.

And, and they'll believe that guy that has zero experience. And they'll go with that guy with the highest number. So that's what, I don't understand why the consumers do it, but anyway, that's just the way the hell it goes in their real estate business. Common is buyer's remorse. We're going to get to that next here on the Golfi real estate show.

Hamilton edition on 900. CHML all right, so we got 16 minutes here. Welcome back. This is the Golfi real estate show Hamilton addition on 900. CHML. My name is Roxanne Brin on the line. Once again at Rob Golfi sales representative with Remax is Gartman Realty. The Golfi team call Hamilton and Burlington's number one Remax team in volume and unit sales.

The phone number is nine Oh five. Five seven five 7,700 online@robbelfi.com. That's Rob G O L F i.com. Follow the Golfi team on Instagram, Facebook, and Twitter. And if you have a topic idea or a question for the Golfi Team, send them an email questions@robGolfi.com. Again, that's questions@romGolfi.com still to come are more newer or.

All their homes being sold in the Hamilton Burlington area. We'll get to that in a couple of minutes. Buyer's remorse. I I'm sure there have been many a deal that you have done or been witnessed to Rob, where are you or someone obviously associated with this home buying or home selling experience has experienced buyer's remorse.

How common is it? It's very common and you gotta be very careful, so neat. Representing the seller. I know that is a big factor. And, uh, so you, so as, as me representing the seller, I have, I have my job to do, to make sure, uh, that, uh, uh, that Irish remorse doesn't happen. And how that doesn't happen is that you get that deposit check the same day.

You do the deal because people wake up the next morning and. And, and it's, for some reason, when you sleep and wake up, you got a fresh mind. You have your, your attitude towards everything is different. So, um, buyer's remorse does happen and here's, and here's what happens. You get caught up into the hype and the negotiations and the other offers that are happening on this property.

So, uh, as the morning starts, okay. Uh, the selling agent tells you. Uh, there's two operas on it. Now you're thinking of putting it off for then. And two hours later. Now there's six operas on it. And then another two hours by, by three o'clock in the afternoon, you got 15 offers on this place. So let's say the house they're asking 650,000.

You originally were going to go in at 675. Now you're going in at seven 50 or 780. So your number went up from 25,000 over asking to probably 140 or a hundred, 125 over asking. So, and the agents get you all hyped up. This is, this is the way it's going. This is what you got to do. And you're kind of, you're kind of into the groove of that.

You're just in the, in all that emotions and everything, and all of a sudden, bingo, you are the winner. Or you could be the loser, who knows, but, but you're the winner. Yeah. The negotiations of the other 12, 15 operas that were on there. So it's all exciting. You got it and everything. And then you wake up tomorrow morning and you go, what did I just do?

I just spent, I paid 140,000 over asking, or 125, whatever it is. And you bought this house with no conditions and that's what's happening right now. There are people are buying with no conditions. That's insane, but you have to, if you want to buy a house and if now, if you don't have a deposit, I mean, You don't, you don't really have a sale.

So we never register a sales unless we have the deposit and we want a bank draft. So a lot of times, uh, you try to get that bank draft the same day they do it because they're excited. Still. They're excited if they wake up tomorrow morning and have buyer's remorse. Well, it's too late if the posit checks already given, but it does happen.

Uh, it just depends who the people are talking to. They could be talking to their parents after they could be talking to the brother-in-law sister-in-laws that, you know, that know everything, you know, how the brother-in-law knows everything and, you know, they could be talking to them and then I'll send.

They put this fear and this anxiety in you that you might've overpaid and maybe not, sometimes people have buyer's remorse, they walk away and then they realize, Holy smokes, what did I do? I had somebody convinced me to buy it. Then somebody commits me to not buy it, to get out of it and not give the deposit.

And now I regret now I'm back in the game again, trying to find another house. It does happen. Buyer's remorse and it happens with everybody. You just gotta, you just gotta, you gotta know what you're doing. That's all. And you gotta be, you gotta, you gotta be comfortable and you gotta be prepared to pay whatever it may cost to get that house, especially if you need a house.

And there's a lot of people looking for a house. My, my, uh, my niece and her boyfriend, they've been looking for a house since last year. They regret not buying a house. Regarding $5,000. They thought it was $5,000 too much. Well guess what? That house today, if it went up for sale is probably 80 to a hundred thousand dollars more and they regret that they wish they bought it, but that's the way life goes.

So now they have to buy something less in that same price point. So buyer's remorse does happen either way. You've sold thousands, tens of thousands of homes in your day. Do you get the sense maybe now more so than before that people are at least more prepared for that emotional kind of tug of war or, or is it basically the same since you started that, that, that buyer's remorse, that emotional kind of, uh, ping pong is, is always going to play out how it does.

It does always, it does play out. It's more so with a younger generation too. Um, if the younger generation has somebody to back them up, it's good, but there there's always, um, you know, what there's buyer's remorse or remorse in any way, um, is always, is always there. And, uh, it just. It's just the way, uh, you know, were made.

I mean, um, you know, like you can, like, for instance, like you can go to a seminar. And, uh, uh, in Toronto and you a room full of 500 to a thousand people, and this guy, you know, rah, rah, rah, everybody's trying to, you know, buy this program by this, or by that you're, you're in the heat of it. Everybody around you is in a positive state.

Everybody's buying the, you know, this, this course or this thing, they they're trying to sell you on stage and you buy it. And then you're like, get back home. And, and that raw, that it hype is not there anymore. And you're like, what did I do? I don't know. Why did I do that? But because you were in the moment you were there and you have to be careful, you have to know that moment.

A lot of times when I deal with people, I say, listen, guys, are you sure you're okay with this? This is the number that you may have to go in, but now, you know, think about it. Like think, think, think about it. A lot of them, sometimes when they lose, they have worse by not going higher. They wish they did. And they said, Oh, we could, you know, we should have gone a little, you know?

Cause when they hear that, when itself. And a lot of them, you know, but you don't get, as you do get fires more from people, but it's, but you just want to prevent that from happening. And that's why I was trying to get the check the same day that we do the deal. Uh, let's switch gears and talk about co-signing.

So, uh, interesting question. Who's left footing the bill, if a parent co-signs for a child and their partner leaves them after buying a house. The parents, whoever it doesn't matter. It's go after everybody. And sometimes yeah, they go after now. Here's, here's the, here's the positive thing. Um, if you co-sign as a parent for your child and the boyfriend or girlfriend, they live there.

Now let's say, let's say they're having a fight, right? And let's say heart, in order for them to afford this house, you need both incomes. Right. The boyfriend, girlfriend, husband, wife, whatever. And the parents co-sign for these two, let's say one of them, let's say they're fighting and let's say they are not getting along.

And one says, I'm not paying this mortgage anymore. I'm out of here. Well, let's let the other, the other partner and the parents are on the hook, spill the other, the other person that left. I mean, they're on the hook, but if they're not paying. Like, like you can't, you can't go down with everybody. So the other three are going to hold the, hold the court.

Now the partner is on the line and he's going to go to his parents, say, listen, I can't afford this house by myself. Um, like he's going to need help or he's going to have to sell. So it's, that's the thing about co-signing because if you co-sign, you know, one of the parties, one of the partners can just walk away.

And it's not their credit rating. It's not their it, you know, it wasn't them. And now you're, you're holding, you're holding the bag. I've seen so many where parents co-sign their kids and the kids don't care. And all of a sudden, now the parents are cleaning up the mess. And so you really got to know your child when you're co-signing you really, you gotta, you gotta make sure.

And I've seen, I seen some disaster disastrous cases out there. Now we've been in a, in a, in an up economy. For a lot of years for probably a good 20 years now. So it, so no parent has really ended up, uh, losing too much money or losing any money because the economy has been strong and real estate values have been going up every year for the last 20 years now.

But, but that could change. Like, let's say if you do a renovation. So I think you really got to know your child, if you're going to co-sign for them. And you got to know the, uh, their partner. Or their spouse, uh, when you co-sign and every, every parent wants to co-sign, they want to help their kids out. But, but you gotta be very, very careful on that and make sure the kids can afford the house.

They got the income to pay for the, uh, for the mortgage and all the taxes and utilities and everything else that goes with the house. But, uh, but you gotta be very, very careful. Everybody's always going to support their kids. Right? So, uh, house prices, um, you know, really elevated over the last number of years, are we seeing a lot more parent co-signing because you know their children or child's just can't make that, uh, that, that payment.

Absolutely. Um, sometimes they, uh, the buying a house or looking for a house, you know, maybe up to 550,000 in it. And the only way they could get it is pay 600. So they, you know, the parents have to go in we're we're finding a lot of parents are happy to come in and help out the, uh, the kids to co-sign and, uh, uh, it's the only way they're going to get a house, but, uh, it, it, it, and that's how, that's how crazy this market is.

But, um, but yeah, definitely a lot of co-signers are, are, are happening. So when we send a deal to the, to the banks or the mortgage brokers, um, sometimes they'll say, listen guys, in order to get this house and they bought berms, so they've got no choice. They otherwise now they they're going to lose their deposit and they're gonna it's just, and uh, so they gotta be, they really got to know their mortgage person when they're.

Uh, buying a house, their mortgage person will say, you can buy up to 700,000. You can buy up to seven 50. So if they're in competition, 700,000 is the max. But then if the parents involved, the parent will say, listen, go up to seven 50 on this house. I will help you. I will help you if you need to. So sometimes that happens quite often.

Uh, this is a question actually from producer Jerry, after the last show, we were kind of talking off air and he had a great one are more or newer homes. Oh, pardon me are more newer or older homes being sold in Hamilton, Burlington these days. Um, you know, uh, we, we don't need the stats of the newer homes cause they don't have MLS, but a lot of new homes are selling and what's happening now.

A lot of, um, builders, uh, last year lost money, um, on, um, on, uh, on new homes because what happened was they sold them and then construction costs came, went way up. And they couldn't, they can't go to them and say, Hey, listen, the new price of the home is this. Yeah. They were hoping they walk away, you know, because they can resell that house for probably $40,000, 50,000 or a hundred thousand dollars more than what they actually purchased it.

But, um, but a lot of new homes are selling. I have some friends that are smaller builders and some of the bigger builders, they can't keep up to the demand. They can't, they, they literally will sell a site. And just sell parts of it because they don't have enough, uh, you know, carpenters like, uh, like, like trace people to do that because every single builder is busy so that the city, if they, if, you know, if they approve more, um, uh, Homesite uh, is even if they do, they probably couldn't keep up to the demand because the demand is far greater than what they're building.

But they are selling and they're selling, they are selling a record numbers and they're, and they're going up in value because the cost of construction has gone up way, way too high. Like I, I heard two by fours or, you know, or, uh, eight, was it seven, five or six, $7. And, uh, so it's getting expensive to build a house.

So you have to really like, you have to really, you know, like the builders. I mean, I'm sure they're getting better prices than the consumers are on depo and Roanoke, but. Um, but if you're on your own building a house, the cost to build is, is crazy. It's it's incredible. It's, it's creeping up past, almost in what it is to buy a resale that has a finished basement landscaping driveway done.

And then, uh, all window coverings and appliances. I can imagine a women home buyers. Interesting story here out of the U S women home buyers are becoming a powerful force in the real estate market. During the pandemic, single women comprised nearly 16% of total home purchases throughout the U S in the fourth quarter of last year.

Compared with, uh, just over 15% a year earlier, 15.7 to 15.3 and additionally single woman purchased 8.7% more homes in the fourth quarter of 2020 versus 19, a significant increase over single men who purchased just 4.6% more homes in the fourth quarter of 2019. Uh, the women are really in charge here in terms of buying real estate.

So women they're making it a priority to buy a home before marriage right now. So it's, uh, so, you know, before the women, you know, they would, uh, you know, they get the professional job. Ain't, you know, I'm going to buy a house when I meet somebody, you know, we'll buy it together, whatever they're going, Hey, no way I'm buying a house and I'm going to own it and live in it.

And, uh, so they're, they're becoming more independent, but more women are making more money now than ever before. Um, and I know that I got a couple of. Uh, nice nieces that, uh, that at work in Toronto and they're making good money, they got corporate jobs, you know, they, they got the business degrees and masters and, uh, they're making great money and they're buying houses.

So, you know, the dose, like they're not going to wait for, um, uh, you know, marriage and stuff like that. They know this is the time to buy you're buying and they want their independence and, uh, they're doing it. Uh, and, uh, there was a survey I think, yeah, on that. Where women are preferring to buy, buy a house before a marriage.

Yeah, 73% of women said that buying a home was a top priority over marriage. Smart move. Forget about marriage, buy a house. At least you'll make some money. Yeah, marriage. And when we come back, we're going to talk about the top five common anxieties for first time home buyers. If you're in that group, you want to stay tuned to the golf real estate show Hamilton edition on 900.

CHML all right, we've got six minutes. Welcome back. This is the Golfi real estate show Hamilton addition on 900. CHML. My name is rixey and Brynn joining me once again is Rob Golfi sales representative with Remax Guttman Realty, the Golfi team. You can find them online@robGolfi.com. That's Rob G O L F i.com.

Don't forget golf. He gets it sold and does so in a safe manner during the pandemic follow the Golfi Team on Instagram, Twitter, and Facebook, and call Hamilton and Burlington's number one Remax team. In volume and unit sales at (905) 575-7700. That's not Oh five five seven five seven seven zero zero. Rob.

You've dealt with probably a million first time home buyers throughout your illustrious real estate career. Here are the top five common anxieties for first time home buyers. And you know how agents like you have helped address their stress. Uh, number one in the list, paying and overpaying buyers are.

Basically afraid to pay too much. Yes, they are. There, it isn't anxiety. And, and, and, and, and the other thing is, is when they're hearing, uh, the market going up and they know, and, and, and, and paying and paying too much is definitely like, That th th that's almost borderline of, uh, of buyer's remorse, but there is anxiety.

There is anxiety about paying too much for a house. And, and I don't blame them like in this market. Like, we don't know where the market's going to be in six months to a year or even longer than that. But, um, but overpaying is, is a huge anxiety. Um, uh, for them, especially when they're first newer, newer buyers in the market, when they're new and they go in and they, they, and they don't get the deal that they want because they're afraid of overpaying for it.

And, uh, it happens a lot and, uh, and then they find out they lose competition on this one. They lose in the next one, the next one. And they just, and sometimes they're so close, but. But they're far, but over, uh, paying and overpaying is definitely on the top of the list. That first time home buyers should be doing, even before they start their search would be to, you know, make sure they're pre-approved so they know, you know, what kind of number they're looking at and, uh, put together monthly budget.

So they know where all their expenses and all their, where their paychecks. Absolutely. Yeah. We'll figure out what they can afford and what, you know, cause a lot of people, a lot of people don't realize. Uh, how much cost of living is for them. And cause they, you know, they spend money every day, lunches, dinners, and, you know, going out, buying this, buying that, and then it adds up.

And so they gotta be careful and pay attention to that. Or two on the list is a not landing. The dream home. I think everyone who has purchased a home, they always start off by thinking, wow, this is going to be, you know, I want my dream home and maybe my forever home and it doesn't always work out like that.

No. I know sometimes, you know, they have this image in their, in their head. Um, what they're going to buy for their first home. And it doesn't turn out to be what, what their images and their head, and it becomes a disappointment to themselves. And, uh, and, and, and it's hard. It's hard to get, find your dream home in this market.

Uh, so people, a lot of times, you know, uh, right now, A lot of first-time buyers are saying, well, we're going to buy this we're in the market. Then we can then after we can find our dream home, a lot of times that what they do, but it is tough to find your dream home. And there just because of the mental image that they have in their heads with the anticipated of moving into.

Yeah, we're going through the top five common anxieties for first-time home buyers. Number three on the list is missing out on opportunities. And we've seen a lot of examples of that with so many people in the game. Yeah. Oh yeah. The opportunity. Sometimes a house goes up for sale and. They missed it. And they went, and that was the actual neighborhood, the actual street that they wanted to live on.

Uh, a lot of anxiety, like how did they miss this property? Why, why didn't I get notified that this came up a lot of times that happened. So it absolutely there's, uh, missing out is definitely huge on the list when it comes out to a, when, uh, for buyers. Huge anxiety because of that number four finding issues with the house, I'm sure you've seen a lot of first-time home buyers kind of stressing over maybe some little things that might be wrong with the house.

Well, what's happening right now, finding issues with the house. And if it's, you know, if they're moving in or, um, what happens is a lot of home inspections aren't being done. So they're moving into blind, uh, on these houses. You gotta be very, very careful when you're buying a house today because. You don't know if there's structural problems with the foundation.

You don't know if you got vermiculite insulation in the attic. You don't know if you've got some plumbing issues. There is so much, uh, there's anxiety, like, like, you know, you buy it and then you go home like, Oh boy, what w what am I going to be moving into? And if they're going to be, you know, w we have rodents in this house, we don't know.

Very, very, quite a bit of anxiety on that to the one final, uh, common anxiety for first time home buyers. When we return here on the Gulf, the real estate show Hamilton edition on 900. CHML. And last go round here on the Golfi real estate show Hamilton addition on 900 CHML Rick Sam print along the line with Rob Golfi sales representative with Remax is Scarman Realty.

The Golfi team. Check them out online@robGolfi.com. Call them at nine Oh five. Five seven five 7,700 and follow the Golfi team on Instagram, Facebook, and Twitter. Just before the break, we were talking about the top five common anxieties for first-time home buyers. Uh, we discussed paying and overpaying, not landing the dream home, uh, missing out on opportunities, finding issues with the house and last on the list, understanding the process from beginning to end.

So a lot of first time home buyers really have no clue what goes into buying a home. We don't. And a lot of times when you're like thrown into the fire, they buy their house. Um, the process, Oh, we gotta do this. We have to do that. We, you know, like, you know, we've gotta get the insurance guy and make sure we got insurance.

And then they find out how much the insurance is on the house. And then they gotta put the utilities under their name. And then they find out, once they're moved in the first month is pretty easy. Cause they don't have really the bills aren't coming in yet. It's after the first month they start getting their, their gas bill, their tax bills or whatever.

And all of a sudden the bills start rolling in and they're willing and fast and their mortgage and their mortgage payment is due. One of that's when I'm, when I'm leaves in the parent who co-sign now has to pick up the Slack. So they, they, there's a lot of anxiety on that. Like, you know, your first month because, and, and all those bills, they come in within, like they come in three days after you move in and, uh, like you're prepared for the mortgage, your mortgage, uh, bill coming out of your account.

But it's all the other bills that come in and it's just like, Whoa, wait a minute. How much money do I have left now? It, you know, and then net, and that's when a lot of, uh, uh, first-time buyers, uh, that's how they adjust their spending habits. And they know like, Oh wow. Like I have nothing left for me to even buy groceries.

So they, because they were spending all throughout the month doing things. And a lot of people, when they buy a new house, they want to paint it. They want to, they want to do things. They want to make it their own. So they're using a lot of the money they have in their bank account to do that. But, but they don't realize there's bills coming down the line and they gotta be careful for that.

So they got to, but you got a budget, everything, you almost have to open up two or three bank accounts saying, Hey, here's our mortgage. Here's our bill mortgage and bills that come for the house and here's our, our living expense. So you've got to make sure you always have that much money in. Your account to pay all the bills, to maintain that house and to pay the bills and, and do everything.

Um, but if you're, if you're just, you know, going freehand and just, you know, like, it doesn't matter that that monthly bill with mortgages and all the other bills that come it comes back or weeks four weeks is real quick. I'll tell ya, you pray for the five week months. And we only got four of those a year.

So yeah. Believe me. So it, it does become stressful when the bills come in, let's end off by talking about the Exodus to the suburbs. We know throughout the pandemic, there has been a lot of, uh, real estate activity outside of some of the biggest cities, including Toronto, Vancouver, and Montreal. In fact, from July, 2019 to July 20, 20, more than 80,000 people moved out of those three cities alone to outline communities in their province.

That's the largest outflow in 15 years. And that timeframe only covers the first five months. Of the pandemic. Um, once we get back, whenever that new normality is, but once the pandemic is, I guess, officially over, are you expecting people to flood back into those big cities? I think there'll be a little bit on going back, but I think, I think you're going to find more commuters on the highway, more people taking, uh, if they have to go back because.

They came this way, they're liking it. And those people are looking for jobs locally here. Now, there they are there, you know, like a bill, bill take less money to, to live a better lifestyle, then go back to Toronto because when they go back, they're going to go, wow. You know what? I, I kinda enjoyed living in the suburbs and having a backyard and this and that.

But you will find there there'll be a small percentage going back, but not that much, but companies. Companies are going to have work at home. And, and then a lot of companies are going to are, you know, like they're probably deciding whether do we keep this cause depending on what kind of company it is, like there's a lot of privacy issues are going on.

Like you've got, you know, every person working out of their house and they've got people coming and visiting them and they got papers all over their desk that could be private and that could be exposed. So there's a lot of issues there, but there will be a small percentage going back, but I think the majority of them are going to stick around.

And they're going to stay just because of the fact they love it. And if they can find a job locally, they will. But otherwise they'll just either go by a bill they'll commute by a go train or, or, or they'll dry. You're going to find, I bet you you'll find that the highways will be even busier once this pandemic is over.

Because just because of fact that people don't want to go back downtown. I mean, it's, it's, it's different. People are realizing life is less stressful. Uh, living, uh, you know, just around where we are, you know, in the Hamilton Nagra and Holton area, it's, uh, living the downtown concrete, uh, area. It gets, it gets tough.

I got to end with a big congrats to the Golfi team. Number six in Canada, among the top Remax teams for residential and commercial real estate. And number six among large teams for residential real estate. And in those two categories, worldwide ranked ninth. And eight, so congrats to you, Rob and the Golfi team.

And thank you for listening to the golf, the real estate show. We're back next Saturday at nine right here on 900. CHML.