On this week's Hamilton edition of The Golfi Real Estate Show, Rob Golfi and CHML host Rick Zamperin talk about having your insurance up-to-date, the price of vacation homes in Canada, a virtual house being sold for $600,000, bidding $400,000 over asking and still losing, and buying an affordable, tiny home for just over $100,000. Lots of numbers this week!
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The Golfi Team RE/MAX serves Hamilton, Halton, Niagara, and surrounding regions (See List of Service Areas below). Check out the Golfi TV YouTube Channel Videos. You will find videos related to the Real Estate Industry including new home listings. You will find industry tips and fun community features as well. Call 905-575-7700 for all your Real Estate Needs!
Thank you for watching. Please like, comment, and subscribe! And remember, Golfi Gets It Sold!
On this week's Hamilton edition of The Golfi Real Estate Show, Rob Golfi and CHML host Rick Zamperin talk about having your insurance up-to-date, the price of vacation homes in Canada, a virtual house being sold for $600,000, bidding $400,000 over asking and still losing, and buying an affordable, tiny home for just over $100,000. Lots of numbers this week!
DON’T FORGET TO FOLLOW US FOR DAILY UPDATES AND SUBSCRIBE TO OUR YOUTUBE CHANNEL! :
Instagram: http://instagram.com/GolfiTeam
Facebook: https://www.facebook.com/RobGolfi
Twitter: http://twitter.com/RobGolfi
Website: http://robgolfi.com
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The Golfi Team RE/MAX serves Hamilton, Halton, Niagara, and surrounding regions (See List of Service Areas below). Check out the Golfi TV YouTube Channel Videos. You will find videos related to the Real Estate Industry including new home listings. You will find industry tips and fun community features as well. Call 905-575-7700 for all your Real Estate Needs!
Thank you for watching. Please like, comment, and subscribe! And remember, Golfi Gets It Sold!
Good morning Hamilton. This is Rob Golfi with the Golfi Team. Welcome to the gulpy real estate show Hamilton edition with host Rick Zambrano morning one and all you're listening to 900. CHML another action packed program for you here today. Don't forget for the hottest listings in Hamilton and Burlington.
The website to go to is Rob Golfi.com. That's Rob G O L F i.com. Follow the Golfi team on Twitter, Facebook, and Instagram call Hamilton and Burlington's number one Remax team. Okay. In volume and unit sales at (905) 575-7700. That's (905) 575-7700. If you have a topic idea that you would like us to chew on, on a future program, or just a question for the Golfi Team, send them an email.
That email address is questions@ronbelfi.com questions@robGolfi.com. We do have a question that we're going to get to a little later on in the program. Also talk about your insurance summer is on the way there are differences in terms of. What should be covered during the summer, because we're, we're outside a little more, maybe you're in your swimming pool.
Is there, are, there are some things that you should consider, especially during the summer months. So stay tuned for that. Raul is going to talk about vacation homes in Canada. There is a vast difference. Price-wise in vacation homes. We know one thing. They're all going up in price. So if you're looking to rent a cottage or buy a vacation home away from the city, you're going to look at a price hike, no matter what.
And a couple of interesting tidbits of info in terms of a unique house. So call it that in Toronto, a couple that bid way over asking and still did not get a home in Ottawa and a tiny, adorable home in Hamilton that we're going to talk about, but we will begin today with what is happening in the marketplace right now.
What's happening, Rob. Well, if the market is still strong, it's still moving along and they're still sloppers, but we're starting to see less Mo competing offers on on homes right now. So like instead of getting 20 offers or 30 offers, we're getting now we're getting down to 10 or five offers. So, so it is, it is going to be changing.
We're seeing that there is, you still have a bit of a market that you still can take advantage of. And if you. You know, to, to get that that high price that you want. And it's just a matter of pricing it right. Basically what it is is you under price, your house, you're going to get a lot more than, than what the value is.
If if it could have had an appraiser had to go in there and appraise the house. So, but but you could see the, the movements changing, but. In saying that there's still a shortage of homes. It's I mean, appointments are still being booked, but I mean, it's people are being more selective because the prices of homes are getting to a point where people are starting to get scared.
People at the buyers are like, you know, I don't know if I want to do this and and put an offer in for that much money. And we just had one that our clients, it wasn't in competition. And we were asking six 29. And we had an offer for six 55, not in competition, but our clients did not want to take that off.
They said we want 700. And because they're listening to their neighbors, their neighbors are listening to their friends at work, say, Hey, everybody's getting this much money over asking this, this and that. And so it, that, that deal. It took us a week to put together. We did get them 700,000 for the property which was tough because you know, they wanted, they had, their expectations were a certain amount.
The buyer was kind of, I had to really think about it. So, so we're coming to, I think, coming to the, maybe the, the last, maybe 30 days of this 30 days to 60 days of this market before it starts getting to a point where people, you know, aren't able to put a pro on offer in because of just getting too expensive.
So the, the ask was six 29. One of the offers was six 55. You managed to get them 700 K, which is basically 71, a thousand over asking 45,000 more than what you know, this, this original offer was for that, that must've been a, an emotional kind of back and forth, especially for the home sellers. Well, yes.
And the whole buyer's going, like, why? Like, like there's nobody else putting an offer in, so why am I paying more than I'm not competing? And, and that's the frustrating part is because you know, we'd have home sellers now. They're, you know, they're, you're wanting more than what they're listed for and because they didn't get it multiple offers when they were holding offers.
Now they're going well, how come this is not working? So now you, now you're going to, you know, because people still want the, the home, the demand is still strong. They, Hey, if you want this house, you're going to have to pay this much. And they're saying, why should I pay that much? There's nobody else competing.
Well, that's what our, our sellers instructed us to do. They want that number and we got the mat number, but it took a week for us to do it. And you know, but now we're on the very, very tail end of that. They, they could have hurt themselves. So you gotta be careful when you're messing around with stuff like that.
I think the proper way of that house of getting 700 was probably not listing at six 29 nine. It was probably listing it at maybe five 89, nine or something, or five 99, nine. So that was the one aspect that should have been done, but they didn't want to do that route because they were worried. And, but anyway, we'd got them to 700, they're happy and and and everybody in the buyer is accepted that and the deal's done.
And it's, I know it's frustrating for the buyer and they're going, what, why is that? Like, why are we paying? And, you know, even other buyers that are listening to and say that's disgusting and all that kind of, I understand that. I understand that completely. And I feel for you guys, and it's just, it's just the mentality of the sellers right now.
You mentioned that you know, multiple offers situations or you know, multiple showings instead of 20 or 30 individuals looking at home, it's more like five or 10. Is that the results of buyer fatigue? It is, it is the result of buyer fatigue and, and I mean, we're still getting a lot of showings, but people are saying, no, I'm not going to, I'm not going to compete against that.
And the other thing is, people aren't want, don't want to compete because they're seeing houses are selling for a hundred, 150,000. And over asking, and they're not willing to go that high. So they're backing out and saying, well, I'm I'm not interested in putting an offer in. So there, you know, if they, it just depends and now what's happening.
This is even more crazy. Is that we're saying we're holding offers. Let's say it's. It's Monday at three o'clock in the afternoon. We're we're not, we don't even know if we got offers coming in until Monday at three 30. Like people, our agents are waiting right to the last minute to say we have an oppor.
And it's frustrating because we don't know how to plan this multiple offer situations. So when three o'clock comes on, And nobody's called and said, we got an offer then all of a sudden three, 10, three, 15, three 30. Oh, I got an offer. Are there any offers everybody's kind of waiting for everybody else to see what's going on and, and, and, and, and nobody's really meeting the deadlines that that it should be.
So basically the way it should work now is all offers in at three o'clock, we're dealing with it at four, four o'clock, but really with the client, you should say, listen, We got it down for three o'clock the summit offers, but really nobody's going to be submitting them until probably between three 30 and four and four 30.
So let's, let's make it six o'clock that we're going to deal with this offer. But even though the public knows that we're dealing with it earlier, And it's just, it's just, it's just kind of made a mess of the way people are doing it, their timing on this thing. And it's frustrating because now, now it's kinda, you're getting this unsureness saying we're holding offers and then at three o'clock on Monday, we're like, Oh boy, nothing registered.
And then all of a sudden that three, three, 10, three 15, three, 2330, all these people are coming in with the offer. So it's just, everybody's just waiting and waiting and waiting right to the right end to submit the offer. Cause they just want to see who else is making an offer. And that's what, and that's how they're determining on the price that they want to go in at speaking of waiting, do you get the sense that some home buyers who may have been burned by these escalating prices, they may have taken a step back to say.
Know, yeah. Home prices are going to continue to go up, but they're probably not going to go up by $150,000 or $200,000. If I wait until the summer or some people waiting, maybe a few more months to jump back into the real estate game. You know what I'm going to tell you. That's a scary, scary thing to do.
I think people are just jumping in because they don't know, like we don't know what's going to happen in the market. Like it, it could even continue going this year, all the bank, major banks and CNBC, they predict the market to be going up all year. And that's just the way it is. So I mean, so, I mean, nobody expected that to happen last year.
And, and then we had a, like a peak in December, January, and February. Things are starting to, you know, th there's a little bit of a change happening, but, but, but any, anything that's listed under 600 is just, just getting ridiculous amounts of money for, for people. It's, it's hard to tell. It's hard to tell You know, there, there are people sitting on the sidelines because now they can't afford it.
Now the house they want, it's just not affordable anymore. So now they don't want to go in certain areas of, of, let's say, in the Hamilton Burlington area that that they want to live. For instance, Burlington is on the affordable. And also in, in certain parts of Hamilton, some people don't want to be, you know, living next to a factory.
You know what I mean? So, and that's the only thing that's left out there and you know, and sometimes you may have to go there for a couple years before you go to the next stage in your life. Yeah. It certainly is a crapshoot for those who are thinking, Oh, we'll just wait a little bit because yeah, as you said, home prices have not gone down.
They haven't even leveled off. They continue to go up month after month after month. And that is. You know, a scary strategy or proposition if, if some, you know, home buyers people seeking their first or fifth or whatever, number home in their lifespan that could be, you know, a roll of the dice.
So we wish them the best of luck. Still to come on the show, we're going to talk about insurance and you know, whether or not. You are covered for certain things, especially during the summer months, because there are things like pools or whatever the case is that you should be considering in your home insurance coverage.
We also have a great question about two properties that were listed and this potential home buyer wanted to submit an offer, but. It didn't quite work out. We'll explain how that situation panned out. Also talking about vacation homes. There is so many people wanting to, you know, get out of the city, especially during the summer months and look at a vacation home, whether it's in, you know, cottage country or somewhere else to kind of get away from the hustle and bustle and take your mind off the pandemic.
We'll talk about that. And we'll also talk about to three very unique situations, including a digital house in Toronto. A couple that bid way over asking an Ottawa and still did not get the house and a tiny home in Hamilton that you look at the price and you're thinking it might just be right for you that, and a whole lot more still to come here on the Golfi real estate show Hamilton edition on 900.
CHML. Welcome back. You are listening to the Golfi real estate show Hamilton edition on 900. CHML. My name is Rick San Fran. Joining me once again is Rob Golfi sales representative with Remax is Gartman Realty. The goofy team. You can call them anytime at (905) 575-7700. Remember, you're calling Hamilton and Burlington's number one Remax team in volume and unit sales.
That number again, nine Oh five. Five seven five seven seven zero zero. online@robGolfi.com. That's Rob G O L F i.com. And don't forget the Gulf, the team gets it sold and they do so in a safe manner during the pandemic follow the Golfi team on Facebook, Instagram, and Twitter, still to come on the show, we'll talk about your insurance needs in a couple of minutes.
We'll talk about buying a vacation home and some of the. Loopholes or price increases that you'll have to encounter, but here's a great question about I guess, missing out an opportunity. My sales person showed us two property listings and in both cases we wanted to submit an offer, but the properties were sold before the posted offer date.
How can this happen? Yeah. So what it is is somebody submitted a bully offer. So sometimes. On the MLS listing. It says no preemptive offers. That means we're not going to take any bully offers. We're waiting for that day. But if it doesn't say that. Then anybody can submit a bully offer, meaning that they can make an offer before that date and say, Hey, here's my offer.
Here's what I'm giving you. I'm not going to wait till that day either, you know, take it. But what should happen is when you do get a bully offer, that's an offer before the date that you're supposed to be accepting offers. You should notify all the agents. That have showed the property in all the agents that are going to show the property.
So we have a system on our system that we can just call our appointments center and say, Hey, listen, I've got a bully offer coming in. Please notify everybody that showed it that if there is any interest of putting an offer in, please let me know right away, because we've got a pulley offer and the ones that are showing it.
Let them know that, Hey, there's an a bully offer coming in. If you, if there's a way we can get you in there early, try to get your people in there early so they can see it. So that's the proper way of doing it. So if a house sold without them knowing it let's say they were booking a showing and didn't get through there yet.
And it's sold before. That's probably what happened. It was a bully offer, but they should have been notified by the appointment center, especially if it's coming from us, that there is an offer coming in. Now, but if, if the ones, the people that did show it and didn't get notified, there were some serious trouble there for the agent that has that listing because he's supposed to notify all the, all the people, the buyer agents that went through it to notify them, Hey, we got a bully offer because maybe they were waiting for that day of the offer date that that was scheduled on the listing.
So if he doesn't notify. He did two things wrong for the seller one. He th that the seller could have got maybe a higher price. So now, you know, now you're the guys coming into bully, so let's get other people in there to see if they might do a better job, a better price. And then the agent can be in a lot of trouble because cause he didn't notify and he can end up getting fine from the real estate council of Ontario for stuff like that.
You got to notify everybody and that's why you gotta be very, very careful. If you do take a bully, offer an offer before the scheduled date that you're holding offer sport. Did I say that. Okay. Did you understand that? I understood that. I explained loud and clear. Yeah. The first kind of scenario would be obviously a miscommunication on, on the on the centers parts.
And the second one is a little more nefarious. If you know, the, if the agent isn't communicating to all parties that that's a little underhanded, obviously. Yeah. Yeah. And, and you know what? You hurt the seller by doing that because now you just pushed the offer date sooner. And sometimes we do get bully offers and sometimes they're pretty good and you're going, huh?
You know what? This is not a bad, this is not a bad price. It's a cash offer. You know, the check is in hand and everything and cause you don't know what's going to happen that day. Right? You just don't know it's it's it's like, you know, door number one or do we go to door number two and like, well, what do you do?
Like, you know, you got, you know, like you got this in hand now, but. You may not get that in three days from now, or you might get more in three days from now. So that's, that's the mind game in this real estate business that we're in. It's just a, and a seller has to make a decision. So that's the, that's the one aspect of that.
Oh, yeah. You can listen to our show through Spotify, iTunes, Google podcast, Stitcher, and many more just search for the Golfi real estate show in your favorite podcast platform and hit the follow button. So you never miss an episode. Let's talk a little insurance. If you haven't updated your insurance policy for your home, it's probably a good time to reevaluate it, especially with the summer months.
And there's a lot of things to look at in terms of home insurance, right? Absolutely. So this came across when, you know, I, I know there's been a couple of fires that's happened on the news that we read recently I think there was one in Oshawa that that was a townhouse road at burned. There was also one in in Stoney I think Stony Creek, another townhouse.
Well, so here's, what's happening. If you've owned your house for a long time and your insurance broker, you haven't talked to him. He just, you just pay the renewal, just keep going and stuff like that. I'm going to tell you, you may not have enough insurance to rebuild your house because the cost of building is gone up.
So much right now. And, and you may be insured for baby 80% of what to rebuild your house instead of, you know, a hundred percent. So, you know, I'm telling you like the way real estate's been going and the way cost of construction is, is up. And, you know, a two by four is what, eight to $10, a two by four. Can you imagine.
You know, all of a sudden, you, you, you have a fire and then you think you got the premium life insurance policy and all of a sudden they say, well, I know you've been with us for 20 years. And you know, you're only insured for, you know, 500,500,000. Doesn't get you anything. And so you're going to be bank like, like you're going to lose money.
And, and it's because that you, your insurance agent didn't update your insurance policy. So I think if you've been if you're, if you have a 10 year plus policy, I would update it for sure. Hey, if your house is selling for, you know, a million dollars and you bought for 500,000, I'm going to tell you something, you better call your insurance agent and tell him to reevaluate it and say, listen, I know may cost a little bit more money, but.
When your house burns down and, and the insurance guys going, sorry, they don't care. You don't to, everybody knows how tough it is to deal with insurance companies. This is the time. To find out if you're up to date on your insurance and if you're up to date on value on your property and I would just make the phone call and and just say, Hey, am I covered?
Am I covered? Then they say, yes. Then fantastic. But can you get it in writing by email? So then you'll always have it. So then if anything happens that insurance agent is insured. If he's made a mistake by giving you the wrong information, we we did this, my wife and I did this last summer. You know, we're in mid of the pandemic.
We knew we did some home renovations. So I called up my home insurance provider and said, Hey, listen, you know, we we've renovated the basement. We've renovated the main floor. You know, we put a new roof on about four or five years ago. You know, redid the driveway, you know, what are we looking at in terms of coverage and premium?
And, you know, it didn't go up that much, you know, marginally really, and for peace of mind you know, I'd, I'd recommend everyone to do the same thing, call your home insurance provider and say, Hey, you know, we've done these updates or, you know, we have a few extra valuable personal items that are in the house, make sure your coverage that, that peace of mind to, you know, just, you know, helps you sleep at night, sleep, sleep better at night.
That's for sure. Oh, absolutely. So there's a couple other things that now, if you own a a property investment property and it's bacon I'm telling you, make sure you tell your insurance guy, and I know vacant properties. It's a lot, it's pretty expensive, but you just don't want to gamble and have somebody if something happens to that house because of the insurance company knows that you've got an investment property and it's bacon and something happens.
They're going to say, sorry, we insured you based on somebody that was living here now. No, they're going to be able to tell, you know, if somebody was living there or not. So make sure that and you're going to hate when you find out the rates on vacant properties, I'm telling you, they, Hey, Rob you, these insurance companies, I'm telling you.
And I, and the other thing is even when you're under construction, Right. Let's say you're renovating a house and you're not living there. Like they also, they want you better let them know. I'm telling you, you just can't afford to have that risk of having that chance of your property. You know, having a fire because especially if it's vacant and nobody's there and something happens and you just, it's just, it's just not a pleasant thing.
So for you know, a little bit of more money on the insurance for a short little bit. It's worth it. So big and properties make sure and houses that are you're renovating. Even though you're there every day, just do it. I'm telling you because nobody's living there at night insurance companies there, you know, it's just making it tough.
Another thing is when you have tenants, make sure you let them know that. What else have I experienced when with insurance swimming pools? What about swimming pools? We did a show not too long ago about so many, you know, everyone under the sun seems to want a swimming pool. Now, if you put in a pool, you better let your insurance company know that you now have a pool.
Absolutely because you never know, you may have a meteor or just drop right into your pool and then damage that. But but like landscaping. So when I, when I moved into my house about five, six years ago, my current house I'm living in now, I did a total renovation upstairs, downstairs, outside, inside, outside everything and also landscaping front and back.
And so I said, listen, I want you at my, I want you at my house. And I want you to determine the The insurance now, I've been there for five years now. I've been seeing houses in my neighborhood selling for a lot more than what I remembered my house was insured for. So I'm going to be making a call to my insurance broker and say, Hey, listen, if something happened here, am I going to be fully covered?
I mean, landscaping is a lot easier, especially if it's hard landscaping. I mean, I mean, it's, it's, it's it's stone and brick and whatever, but if it's regular landscaping, it there's a minimal amount, but. But the thing is you still need insurance. I'm not a big, I believe me, I hate insurance. I pay a lot of money with some of the properties I own and, and, and with my business and everything else.
And, but I, I truly believe in it because if you don't need it, that's great. But if, but if at the time you need it, It's it's it's it's wise that you have it and you feel comfortable about it. A couple of other things that I, I didn't really realize. Number one, new pets, you know, if you, if you get a new dog call your insurance company, because you better be protected just in case, you know, old rusty goes after the mailman.
And, and ends up biting, you know, the mailman that you know, that there's an insurance factor there. And another one is trampolines, you know, similar to pools. If you know, kids get injured in and around a pool or in and around a tent, a trampoline, you know, you better be covered. And another thing we talked about backyard Oasis with swimming pools, people are building, you know, cookouts or barbecues, or, you know, outside kitchens don't put that barbecue or cooking area too close to the home because you know, there, there's obviously a fire hazard there and insurance companies are gonna want to know that.
Oh, absolutely. It just you just gotta be, you gotta be in touch. And a lot of, lot of people don't realize, you know, people have things in their backyard and and they may not be insured for. So it's like I knew there was a fire that happened now. There was a guy that's looking at building a house on his property and the house was They can't and there was, I'm not sure if there was electrical fire because of mice eating wiring.
I don't know. I don't know the whole aspect. So there was a fire on this property. The guy was going to tear it down and build anyway. So he, him, it doesn't matter. Okay. It really, but, but there's an opportunity for him to collect insurance possibly if he wants to or not. I, and the guy called me and he, and I said, well, be careful.
I says, you know, if you file a claim with a fire that has, you know, on the house that any collect insurance, getting, getting insurance is tough after that, because now that property is stigma that there was a fire there. Even, even though you're going to tear it down and build it does have the stigma.
So all insurance companies have a record. They're going to look at it and say, Hey, this property had. Has has a record of having a fire. So, so if you have any major, big claims on your house, There is a database that people can collect and get and see if there's been any claims on that insurance companies have that.
So if you're switching one insurance company to another, if you're going to know what they're going to know, if there's a big claim made on that property. So, you know, just there's like they've got a database, just like anything else out there with your insurance company. We know that a property values have gone up substantially over the last number of years.
And if you haven't contacted your insurance company over the last number of years to get them, you know, an updated assessment on your house is a, I know the Golfi team offers free home evaluations is a home evaluation. The same as a home assessment home evaluation is based on what a willing buyers willing to pay at the time.
The appraisal's based on history. So a pre and appraise an appraiser when they appraise a house they based on the information that they have at hand that closed, we base it on what we think of willing buyers willing to pay right now. There's also a actual value assessment from MPAC they can use, but sometimes that's off, especially on the higher end homes.
You may have a host that's worth 2.3 million, but on the impact, it says it's worth 1.7. And so like, you gotta be very, very careful having an evaluation on at the time. Does give a little bit more presidents, I think over over a, an appraiser. It just depends what it's used for banks. They use appraisers people that are looking to see what their home is worth or what are willing buyers to play.
They use a realtor. Makes a lot of sense. How much does it cost to buy a vacation home in Hamilton? We will bring you the answer. When we come back here on the Golfi real estate show Hamilton edition on 900. CHML. Welcome back. This is the Golfi real estate show Hamilton addition on 900 CHML rixey and print in studio.
Joining us from one Mark. Linda is Rob Golfi sales representative with Remax is Guttman Realty. The Golfi team. You can find them online@robGolfi.com. That's the website that's Rob G O L. dot com. Call Hamilton and Burlington's number one Remax team in volume and unit sales at (905) 575-7700. That's (905) 575-7700.
Follow the Golfi Team on Instagram, Twitter. And Facebook is well, if you have a question for the Golfi Team or a topic idea, you would like us to tackle in a future program. Send them an email questions@robGolfi.com. Again, that's questions@robGolfi.com. How much does it cost to buy a vacation home? Okay.
In Canada, there are a lot of people who want to get away from the city, maybe buy something in cottage country, just get away from the hustle and bustle of it all. Well, when you report shows that you know, there's definitely a price increase from 2022, what's expected here in 2021 over the next couple of months all across the board, for instance, in Ontario the average price for a vacation or recreational house, $469,000 or four 67.
Pardon me? And change. It's expected to be five 47 this summer. So about a 17% rise and there's increases across the board. Vacation homes are becoming increasingly popular. Aren't they? They are, and even like buying RVs and trailers and everything else like that. Everybody is just jumping and looking for a place to be a way from their own personal home this summer.
So I know I was trying to book some, some places in, in Ontario, every provincial park of Guan Quinn and all the provincial parks. Look solid right through the summer. There's nothing available. So you literally had the book five months ago. If you wanted anything. At the provincial park, because the earliest day you can book is, is, is five months to the day that you decide to drive into whatever provincial park.
So, but also like a friend of mine he's bought a cottage up North and he's moving in, I think at the end of may. So he's going to enjoy the summer. Up North and I think he's actually moving there as a permanent residence because he can work out of his, out of his house. So yeah, things are changing and prices of cottages are definitely going up.
And I think that if they're going to see record numbers this year in in Ontario or even across Canada, Yeah, Canadian recreational homes expected to jump in price by 15% in 2021 against that's. That, that is nationally Ontario. I mentioned a hike of 17% that matches Atlantic Canada, Quebec expected to go up by 15%, 9% in the Prairie, 6% in Alberta, 13% in BC and out of all of those regions.
Alberta is listed as the most expensive, which I would never have guessed $942,000, the average price and increase of 6%, which is the lowest on the list, but still the highest price overall. And you're probably talking about places in, you know, BAMFAM Alberta near the Rockies, Canmore camera's or cannon, ask us all, you know great destinations with, you know, amazing sight lines, beautiful, fresh air crystal clean water, probably a nice place to be over the summer.
Oh, absolutely. I know it is, it is expensive in Alberta. So that sounds like a place that I think I got to check out in in the visit. I haven't, I have never been to Bampa. I hear a lot of good things about it, but definitely I, I can't believe how how these vacation properties are just going up and, you know, it's like everything else, anything, you know, like, I mean, nobody's vacation in, in probably just over a year, right?
So this is, you know, people are getting the itch and they're, and they're, and they're doing their. They were traveling in different ways. Like th like this summer, you know, we booked a different areas across Ontario to to go as vacation and at, at you know, like camps, campers, or it's RV resorts and stuff like that.
So I was able to manage to rent an RV quite a few times throughout the summer so that we can do something. Cause you know, like it just like, you know, there's something to change it up a bit. We gotta change it up and hopefully No, they're not closed down and enjoy the summer with different locations to go to.
I was always so close to visiting BAMF back in the late nineties, my wife and I were living in Fort McMurray, Alberta, which is way North of Edmonton. And that summer we were planning a trip to Banff and some of the other great hotspots. Yeah. In Alberta, but lo and behold, I got a job to come back to Ontario.
So I never did get a chance to go to Banff either that summer or since it's still on the list. But hopefully it will be realized sometime soon. But anyone who's thinking about taking a cross Canada trip Banff is certainly a place you should add to your list. When we come back, we're going to talk about a home in Toronto that was sold for more than $600,000.
But the home doesn't really exist. We'll explain when we come back here on the golf, the real estate show Hamilton edition on 900. CHML yeah. And one more go round here on the Golfi real estate show Hamilton addition on 900. CHML my name's Roxanne prin. Joining me once again, Rob Golfi sales representative with Remax who's Gartman Realty.
The Golfi team. Call them today at (905) 575-7700. Online@robGolfi.com. That's Rob G O L F i.com and follow the Golfi Team on Facebook, Twitter, and Instagram as well. This story certainly caught my eye because here is a home in Toronto that sold for more than $600,000. It was sold to an internet art collector.
It was purchased this property. Which is being called a non fungible. I think I'm saying that right. A non fungible token for roughly $616,000 Canadian. Here's the catch though? The house doesn't physically exist. This is the first non fungible token house in the world. It is a 3d file. That's meant to be explored in virtual reality or eventually through augmented reality.
This is strange. You know what Rick, that shows you, this guy has got so much money who doesn't know what to do with, and he's putting his money. Like literally he paid over $600,000 and he bought it with again cryptocurrency. Currency. Yeah. And who does that? Like, I mean, like, you gotta be a billionaire or like you just gotta have like $600,000 to a billionaire is pocket change.
It's like having 10 cents in our pocket, actually. It's like having. I don't know, one penny in her pocket. Like, it's just like, to us, like 600,000 is a lot just to have something. Hey and then I guess he said he bought it so that he can actually have it behind him. Any piece doing a zoom calls and the ads of virtually, you know, behind him.
It's it's like an art that they look at. I, I honestly. You know, I don't know if this is the trend where it's going. You know, I, you know, it's like having something that nobody else has right now. So he's, you know, he's obviously hit the the newsfeed all across probably Canada and the United States.
But but yeah, I, I, I'm not sure if you got a chance to look at it. I don't know if you had time to look at it, Rick, because I, I I saw it. I mean, yeah, it's great, but I mean, it, it's not a real stumbling block for me. And it's not something I don't know if I'd be excited to have something like that, would I buy?
Okay. So here's the thing. So if that thing came across and they said, Hey, you can have this, it's a hundred dollars. You could pay a hundred dollars for it. And you've got this virtual house and you own it. I don't think I'd even pay that for, you know, so obviously you know I guess, you know billionaires I'm assuming as a billionaire, if you're gonna spend 600,000 on on nothing, I guess, I don't know.
That's my opinion. I'm sure there's some people out there in the world of. Internet, they're saying, what is he talking about? He doesn't know. And they're probably right. So but anyway, I just feel that I, I saw it, it looked pretty cool. It was a cool little video that I saw and it just shows Mars behind it with this house built on planet Mars.
And it's like a virtual, but I personally wouldn't buy it. But I'm not a billionaire, so I wouldn't know. So I guess what, what, what do you think Rick, would you do? Would you buy something like that? Not by it, even if I was a billionaire, really? I mean, this is just not my cup of tea. I mean, it's, it's basically art is what it is.
It's a virtual kind of existence where. I dunno, I guess this individual really got, got their kicks out of owning such a thing, but I mean, th this is really anything new. We just saw. I think it was a couple of weeks or a couple of months ago that there was an art sale and a virtual auction or a virtual art piece was sold at auction for 69, a million dollars or 90 million Canadian, and the founder of Twitter.
Sold his first tweet that he sends for $2.9 million. And I didn't know, this was even in existence, Gucci reporter Lee, selling digital shoes for $18. So I don't know. I don't know. So, so these are shoes and that you can have, but you can't wear them. No. Yeah, it's just, this world is I don't know, like, I don't know how as an opportunity I'm going to sell something virtually for millions of dollars and then just retire.
Yeah. You know what? I got to come up with something virtually. I got to come up with something and and that somebody that might be might be interested in the Golfi Team has, I don't know with I don't know, Rick, you got to find a willing, do I have anything that's of value? I don't know.
You got to find a willing buyer. I got to find a willing, right. I just need one. If I can sell it for a million dollars, that's it. I just need one guy to buy it. Is there some, do I gotta figure that what that is that somebody will buy that I have that is worth a million dollars. I don't know if I would, if I just I just got to find that one, a billionaire that Yeah, maybe is interested in something that we have, I don't know, scouring their basements or the garage for some junk that they can sell virtually, we're out of time.
So we're going to talk about this Ottawa couple that bid that way over asking, and still did not get the house that they were looking for. And we'll talk about an adorable, tiny home in Hamilton that the price might just be right for you. Hey, thanks for listening to the Golfi real estate show. We are back next Saturday at nine right here on 900.
CHML.