On this week's Hamilton edition of The Golfi Real Estate Show, Rob Golfi and CHML host Rick Zamperin talk about April's market stats, why not having enough money for a downpayment might not be your fault, whether you should renovate a home before moving to a retirement home, and Golfi Team member Lou Tallarico shares a story about rescuing a client from another agent.
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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 April's market stats, why not having enough money for a downpayment might not be your fault, whether you should renovate a home before moving to a retirement home, and Golfi Team member Lou Tallarico shares a story about rescuing a client from another agent.
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 Golfi real estate show Hamilton addition with host Rick van Fran. Yes. Good morning, Rob Dolphy is a sales representative with Remax is Scarman Realty, the Golfi team, and we are going to talk about real estate as we do here on the Golfi real estate show Hamilton addition on 900 CHML.
But the hottest listings in town. I know the market is cooling a little bit. We referenced that last week on the program. But there are still some great deals out there and still an opportunity for you to get top dollar for your home and you want to do so by going online to Rob Golfi.com, that's Rob G O L F i.com.
Call Hamilton and Burlington's number one Remax team in volume and unit sales. The phone number is (905) 575-7700. That's not Oh five five seven five seven seven zero zero. Follow the Golfi team on social media, whether it's Facebook, Twitter, and Instagram, they have awesome videos, some great listings on display, and you can really get an in-depth look at what is out there on the market and and get yourself into a new home or put your home on the market.
And if you do so, don't forget, not only does Golfi get it sold. But he does so in a safe manner during the pandemic, Hey, if you have a topic idea for a future program or a question for the Golfi team, send them an email questions@robGolfi.com. That's questions@roGolfi.com. We have a lot to get to today, including if you can't afford a house, it may not be your fault.
We're going to get into some of the things, many things that have. Come into the four that have prevented people from plunking down a healthy deposit to get themselves into a home. Also talk about some recent enforcement decisions and some well, just say some old listing photos from a property.
Up North. But before we get to all of that April has come and gone, but we do have some statistics from the realtors association of Hamilton, Burlington some top level stuff to begin with. And then Rob's going to dive deep into some of the different neighborhoods in and around the Hamilton, Burlington, Niagara as well, 1,906 homes resold in April.
Now that's down 8% from last month, but. They were up 245% since April of 2020. We all know that there was obviously the COVID massive shutdown in April of last year. And last month was very busy in comparison. So that's why we are up 245% new listings down 3% since last month, up 191%. As of last April, the average price for a residential property in Hamilton, Burlington $855,000, which is actually down 2% from March, but up 39% from April of 2020.
And the inventory available at the end of the month was 23% higher. Then in March and before we get into the neighborhood stats, a Rab president, Donna Bocker says quote, since the pandemic began, the realtors association of Hamilton Burlington market area has been anything but predictable and each new month has brought historic highs and lows.
The good news is the local market area is showing signs of stability. And recovery with active listings increasing significantly once again, month over month. So I guess the general sense is the Hamilton Burlington market is seeing some signs of stabilization. Would you agree with that? Yeah. And, and it's hard to tell cause cause you can't, you can't compare last year's April versus this year is April.
So there's, there's a lot of factors. That are involved in April one, we had a shutdown. So we don't know if that's a big, a factor of a little bit of a cool-down. We don't know if buyer is, the buyers are more cautious. The spring market's kicked in more inventory, there's a lot of factors involved.
So, you know, it's hard to pinpoint, which is going to be the thing that is causing a little bit of a cool-down on, on the market. But we do. Me to cool down and in regards for the buyers anyway, but, but yeah, things things are changing, but you know, houses are selling, but less offers. On a house on multiple opera situation before we would get 10 to 1520 offers on a house.
Now we're getting maybe five or six offers. So that's telling us either buyers are being cautious or inventory's moving up. It's hard to gauge in a, so you got all these variables and it's hard to pinpoint one. So we'll find out more. And we won't even find out this month, the month of may, because we got part of a shutdown happening up to the 20th of this month.
So, so it's kind of, the numbers are skewed in that, in that way. So it's, it's, it's tough. It's tough. It's tough to, to gauge this this market with this pandemic. Yeah, and these numbers may be skewed for a while because everything that was supposed to happen in April and may of last year really happened during the summer months.
So when this summer his numbers come in they can't possibly be as crazy as last summer. So those numbers are also going to be skewed and that might even be realized into the fall as well. So this the 2021 might be a, a bit of a write off in terms of the comparables because last year, but post may was just nuts.
Well, what I do on my board, I have three years of my sales numbers and everything in front of my right, like in front of my desk. It's right on the, on the wall. So I'm comparing the first six months of this year versus the first six months of 2019. That's what I'm comparing because the first six months of 2020 was kind of, you know, it's kind of hard to gauge, but now the second six months, Of 2000 of this year, I'm going to compare it to 2020.
You know what I'm saying? Yeah. Yep. So I'm basing my first half of this year. You're comparing it to 2019 and then the second half to 2020, just because obviously the markets have changed and, and because of the pandemic, when it hit at the, after just a little into the first quarter of 2020, But but we got some numbers.
So the numbers like base basically from last year. And I'm not going to go over the numbers last year, unless what do you think? You, you well, you know why it wouldn't be a bad idea. The percentages are, the percentages are just crazy. Like th they're they're stupid. They're stupid. Crazy. Yeah, they are stupid, crazy.
It ranges from 36% up to 74%. It's just crazy now. So I'll, I'll, I'll start off with an caster. Okay. Now last year. In April, the average sale price of a house in an Castro is 760,226. That's a part of this year. Sorry, that's a bargain. It is a bargain need to get that in central Hamilton almost now. But now this year it's 1,000,080 2,649, 42% increase from last year to this year.
It it's unbelievable. Like how one year, like that's, you know, like nobody gets. Any kind of investment. Now look at Gundams now Douglas, you know, they don't sell that many homes in general, like it's, it's, it's a small community. Very rarely people want to move out of there. It's it's, it's hard to find a house to buy there, but when you do you stay there forever, you know, dun DAS last year, 635,907,000.
This year 981,577,000. Loved that community. It's a great community. It's lamb Burl. Now Flamborough. It's tough because you get sometimes $5 million homes to, you know, a million dollar $700,000 homes. So if you, if there was a bunch of sold in the, in the high numbers, it'll skewed the numbers. So last year, the average price in April 700, 15,300 for this year, 1.1 million 244,674.
So huge 74% increase there just a month, a year over year for the April. Glenbrook looking at this last year, 542,436, this year, eight hundred and sixty four thousand two hundred and eighty one thousand fifty nine percent increase year, year, year over year. So unbelievable. Unbelievable. Now, Hamilton central, look at this.
420 even last year was kind of a strong number, $427,636 for a house in central Hamilton. Now this year April's by 176,951 35% increase year over year. Hamilton East is last year April of last year, 470,752. And this year 617,353,000. So 31% increase year over year. They're on Hamilton, Hamilton East now Hamilton mountain.
You know, it's always been a great market, but we're starting to get, we're starting to hit the peak for Hamilton mountain last year 555,245. And this year. 736,847. So 33% increase on the Hamilton mountain average sell price. 33% Hamilton West. Now there was last year $520,026. This year, 646,479, 24% increase in the Hamilton West area.
And then Stony Creek. Now this is upper and lower Stony Creek. I always mentioned. 50% increase. Unbelievable. So in Stony Creek, $557,744 as last year, this year, 134,643. Stony Creek is just unbelievable increase. Now water down water down is always a nice, a nice community that a lot of people are moving to just because Gautrain is not too far from there, especially a lot of GTA buyers.
And in that way, Last year, the average sale price was 722,575. And this year the average sale price in water down in April was $984,651. That was a 36% increase year over year. Just incredible. Incredible now Burlington again, $807,927. In 2020, this year, 1,057,973 31% increase in Burlington.
And then I'll add Oakville to this last year. The average sale price in Oakville is 1,184,465. This year, 1,596,678. Almost $1.6 million. Average sell price in Oak real incredible 35% increase req like it's. Who's got the money out there. Like where's the money coming from? Let me jump in. Cause we do have a bunch of Niagara numbers that we're going to get to as well.
We have a couple from Brandt as well, but there are a couple of numbers that stick out to me. Once you were going through the chart here, one is the Hamilton West percentage. And again, but we'll dive into this after the break. The other is the average sale price in an caster. Compared to Burlington and we'll refresh our listeners' memories because there was a lot of numbers out there, but that those two numbers stick out to me.
And we'll tell you why. When we come back 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 on the line. Once again is Rob Golfi sales representative with Remax is Guttman Realty.
The Golfi team, you can call Hamilton and Burlington's number one Remax team in volume and unit sales. The number is (905) 575-7700. That's (905) 575-7700. Online. The website is Rob Golfi.com. That's Rob G O L F i.com. And you can follow the Golfi team all over social media. They have great videos.
Awesome information on Twitter, Facebook and Instagram. If you have a question for the Golfi team or a topic idea that you would like Rob and I to chew on on a future program, send them an email questions@robGolfi.com. Again, that email address is questions@robGolfi.com. Still to come on the show can't afford a house.
It might not be your fault. We'll tell you why. We'll also talk about someone moving into a retirement home. And the question is whether they should renovate the home to get. Bigger dollars when they sell. We'll get to that in a matter of minutes, but we've been going through the April to April stats, 2020 to 2021.
In a Hamilton Robbie, you referenced a Burlington and Oakville as well. Before we get to brand in Niagara and even the GTA, there's two stats that stick out to me. Number one is the comparison between Ann caster and Burlington and the other is the, the S the price percentage change in Hamilton West.
And we'll start there because of all the communities we went through and caster Dundas Hamilton center, East the mountain Stony Creek water down, even Burlington, 24%. Price change from April 20, 20 to 21 is the lowest in Hamilton. West is the big reason for that because obviously McMaster university was shut down and not a lot of homes were sold.
Therefore they couldn't see the price, escalation that some of the other neighborhoods realized. Yeah. I would say that a lot of investors probably unloaded some of their houses and they didn't get the numbers that the anticipated. So you got, you got a big population of the agents. I'm sorry, not agents.
The students they're working out of their house and they, they didn't rent. They did not even bother to rent anything. Oh, and some were scared and said, Hey, let's rent something. And just in case we do get called back. So, so people were, you know, kind of rolling the dice and, you know, figuring out which way, you know, it was going to go.
And, but, but Hamilton West has always been like expensive, like, so they've probably hit a ceiling even last year in the year before. Like we're, you know, there's not too much more growth because. There's only a certain level that people are willing to pay. So especially a guy that's looking at investing in the Hamilton West area for student rentals.
There's a point where it's just unaffordable. It's not worth the investment anymore. So, so that's where the ceiling hits and that's where people, you know, like, you know, you get people putting their house up for sale. They're not getting the number that they want. And eventually they have to reduce their price and then, or not sell it all.
And so they just and that's why the percentage is a lot lower. I think Hamilton West has always been a strong market, but. It, it, it was strong earlier than the rest of these other other markets that there were in Hamilton and surrounding area. The average price in an caster in April of 2020 was $760,000, which you mentioned it's now 1,000,082 in Burlington a year ago.
The average price was 807,000. So about $47,000, more than an caster, but Burlington now the average price is 1,000,057. It now trails. And caster, is this the case of the GTA buyer saying, you know, Burlington's nice, but well, and Castro is even nicer. Yeah. People are looking at that. They're getting there, they just, they're getting farther and farther away and they're finding, and Castro's got some gorgeous areas, gorgeous homes, and they're, they're liking the community.
I'll tell ya. Hamilton has been a sleeper for so many years now and and they're finding, you know, the people are nicer than this this part of the you know, from the GTA. And and that's why an Castro is just exploding. You're getting people from. The Hamilton mountain, Laura city, they're all going towards and cancer.
Plus you've got the people from the GTA coming this way and that's, what's driving the prices up. People are hearing about Ann caster. There's a lot of things that you can do there. And it's a, it's a nice community. It's a, you know, quiet and, and gorgeous. And, and that's what people are looking for now.
They don't want this hustle and bustle too much. When those GTA buyers do come into an caster in other parts of Hamilton, Stony Creek, they're pushing other perspective buyers a little further out. And, and one of those further out communities is a Branford and brain County. And the numbers there look very healthy as well.
Yeah. Th yeah, Branford you know, last year the average sale price is 447,260. And now this year it's 624,819. So, I mean, there are 40% increase, which is very strong and Brant County has a lot of larger and bigger properties. 600, 6,478 last year in April, this year 931054% increase. Year over year in Brown County.
Incredible, incredible. It's been more of a growth in the Norfolk County area now too is more affordable than a lot of clients that have sold a Hamilton for top dollar in the last six months. And they're looking for places up in Simcoe and those places over there, rural property are becoming very more.
Desired. So yeah, it's, it's been a big push to the breadth of Bradford, but more so even into the four County. Yeah. That's Lou Taylor Rico, everybody. And that he's he does a lot of business out that way. Yeah, definitely appreciate you coming on the show as well, Lou, and I understand you have a story that we're going to get to in a few minutes about how you helped someone get into a home.
But before we get to that, Rob, some of the areas in Niagara that you want to highlight before you get that, I do have a friend. That just recently purchased a home in port Colburn. And I noticed that that had the highest percentage increase April to April in terms of the average price, 393,000 to $687,000 year over year.
Yeah, they had a couple of big sales that happen in that area rec so that's what caused that, that number to go up. We may see that number come down in may possibly, but we'll we'll we'll, we'll keep a close eye and pull Cobra and see, because they had a couple of like $3 million homes. That's sold. So that really brought the average sale price up, but it'll balance out.
Let's see how it balances out next month. Also big increases in Fort Erie, Grimsby Niagara falls, St. Catherine's Wellins. Niagara is still red hot here. Oh yeah. Look at, so look at, look at Fort Erie up 70% year over year 382,927 this year 40 649,285. Incredible, incredible. And then if you look in Niagara falls, 45% increase, average sale price in Niagara falls last year, 450,650.
This year, 654,246, 45% increase. And then in St. Catherine's you've got last year, almost the same as Niagara falls, 450,601. And this year 631,979,000. So you've got Niagara falls leading. St Catherine's and it's, and it's all those I'll tell you that these buyers from Toronto are coming there. They're going over the the garden city Skyway bridge in Headington Agra falls.
They love Niagara falls and that's where they're going in. And the bulk of them are going there. It's incredible. Well, Linda Whelan, the forty-five percent, $395,000 last April to $573,000 last month. That's that's a huge gain as well. It is, it is. And so now, now I, I did so that's based on April of last year versus April this year, but then I, I kind of wound down to four or five different areas April versus March.
So here's what's happening. So March in Hamilton the average sell price was 800, 803,532. Okay. So. April like the following month, April this year, the average sale price was 783,000. It's down 3% month over month. So things are cooling off. Burlington is down 4%. So March the average sale prices, it was 1,000,090 4,654.
Now it's 1,000,050 3000. It's down 4%. Now, I'm not saying housing prices are coming down. They're just not going up as much people are like, are kind of like, there's not as many offers is going in. There's not that one guy there's when you have 15 offers on a house you're going to get one guy that's, I'm just going to go in and just throw everything at it and just blow everybody up the water.
And that's what, and that's what happens when you have 20 offers, but when you want to get four or five offers, you're not going to get that. You're not going to get that now in Niagara, this is all a Niagara. Niagara was 676,332. Now Niagara is the only area of the golden horseshoe. That is up. And the reason why it's cause it's still affordable, it is affordable.
And that's why the market is moving up in Niagara. Like in Branford, it's down 1% from April, from March to April and Toronto is down 1%. Now, Toronto, the numbers are kind of hard cause that's a huge area that is covering to figure, figure out a, a percentage. But if you go from area to area, you probably get.
Different numbers. But look at that, Rick, I'm not you, do you have that, that thing in front of you, right? Yeah. So Niagara is the only one that's up in the whole golden horseshoe. Yeah. There you go. You mentioned Toronto. Yeah, sorry, Lou, you mentioned Toronto and the GTA, Rob, you know, 830, $3,000 average sale price in April of 2020 compared to 1.105 million in April of 21, but a little bit down from, from this past or from March the previous month.
So interesting to to see that dichotomy taking place. Yeah, it's just, you know what it is, it's and that tells you, there's still a bit of that good market in Niagara falls before it hits the ceiling. So like if there's anybody from nag or listening, you know, I get your house on the market now because you will still benefit a little bit from it.
My like, like when I sold my parents' house two weeks ago, We we ended up getting 11, 12 offers on that place. And I don't, you know, and now I've got a couple other places going up for sale there. We're going to hold offers and see how many offers that we're going to get on that. So we'll, we'll, we'll let, we'll keep you up to date on that for sure.
Or tidbit on the stance. The average days on market in Hamilton, Burlington in April, 2020 in Hamilton, it was about 25 days. And then last month it was 11 days. That is lightning quick. Yes, absolutely. No kidding. No kidding. And Bert Burlington, not much different. 21 days to 12 days. So, I mean, yeah, things, things were still a hopping in the month of April.
Hey Lou, thanks again for coming on the show. Rob was sharing a story off air before the show about how you help someone. Well, you know, th th there was another agent involved in, you kind of came to the rescue. Well, you know what they were, I was sure she had her home for these buyers of mine. And, you know, their budget was in around that 600,000.
And you know, again on the Hamilton mountain, central East mountain, it's tough to find something decent for that price range. As you know, in the last three months, as you've seen what happened to the numbers of the Hamilton mountain. And even though it's, you know, I told you a little bit from the top, so we have access to, as you know, Rob's a member of Toronto real estate board.
So I subscribed to, to a search for my buyers, as well as the ones for the Hamilton board. So we're, we're kind of distinguished that way. We have different boards as you know, in the, in the province. Anyway, I got a subscription to a a search for not only the Hamilton on board, but from the Toronto board.
And when I got to my search of application that met microfibers criteria of, of a home on the second mountain, it was listed at five 29, nine. I thought, okay, this might work. And then, but of course, you know, these are all ploy tactics because they hold offers and whatnot, but I ended up getting in to see it right away the first day of the market, literally hours after it was listed.
And the the clients of mine really loved it. Okay. Cause other homes in that range and stature were selling for about six 50 to 700,000. Okay. It's a one and a half story. And when we went in there, they loved it and they said, well, can we get the sport? Hold on. So I dealt with the agent and then I asked her about what the other clients who expect them on the sale.
And they said, well, you know, we're not holding off as well. We want over asking for sure. So come with your best offer. At the end of the day, I was able to negotiate a great deal. We went in there with like a firm offer 30 day close, big deposit, really solidified a great offer, and they were able to snag it for like 610,000.
And that's well below market in a market. That's. You know, shooting prices as you see 40% higher than normal. So it was a Testament to the fact that, you know what, sometimes a GTA buyer, GTL, seller, they don't have access and don't know the market locally. And we've got to be really careful with the buyers and sellers out there.
Well, what happened here, Rick was this Toronto agent came in, listed this house locally here and didn't know the market and didn't even put it on. The local real estate board. So basically any agent that had a client looking for a house in that area would not even know about about it. So, Ben Lou, because we are members of the Toronto real estate board saw that this came up on the Trump, like on the Toronto board.
And, and, and this agent from Toronto, I don't know who he is, but he obviously wasn't smart enough. Or he was lazy to put it on. At least he to do the paperwork, to put it on our board anyway, cost his client. Lou, would you say this house was probably worth close to 700,000? Yeah. So there isn't, there is a mistake there that another agent made that mistake.
The first mistake was the local person put their house. Use the Toronto agent thinking that he was going to get a Toronto buyer coming in to bring an offer in which ended up being a local buyer, because we were smart enough to always look on our Toronto board listings to see cause we know agents at trial, don't put it on our board.
So we track that and we got this a great price. For our clients and they won, but they're there, they're the winner winner chicken dinner in this one, but, but they benefited from the experience that we have. And and we're still happy for that. I mean, it doesn't happen often, but I'm telling you like people, if you have a house.
Don't look at the Toronto agents thinking he's going to bring a Toronto buyer. I'm going to tell you that's not happening yet. Make sure you get the local guys like us. We are members of the Toronto real estate board. We know the Toronto agents. We deal with them every day. We're a big team. We have, we have all the resources to get you the top dollar.
So don't make the mistake of having somebody from Toronto coming in and not knowing your market because that will cost you thousands and thousands and misses. Particular case Lou got this house probably for 80,000 less than what that homeowner could have gotten. I mean, Hey, that's what the home buyer, that's the home seller.
What they did. They hired that guy. And guess what? They are going to pay the price. You can listen to our show online through Spotify, iTunes, Google podcasts, 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.
Stay tuned. Can't afford a house it's likely not your fault. We'll explain next year on the Golfi real estate show Hamilton edition on 900. CHML. Welcome back. This is the golf, the real estate show Hamilton addition on 900. CHML Rick San Fernando studio on the line. Once again, Rob Golfi sales representative with Remax is scurman Realty.
The Golfi team also joined by Lou Talerico also a member of the Golfi team. As we're talking about, you have the latest, greatest news. And real estate here in Hamilton and Burlington. Rob gfi.com is the website you want to go to. That's Rob G O L F i.com. It's got the hottest listings in town. It can follow the Golfi team on Facebook, Instagram, and Twitter, and call Hamilton.
And Burlington's number one, Remax team and volume and unit sales not Oh five five seven five 7,700. That's nine Oh five five seven five seven seven. Zero zero. We have some recent enforcement decisions that we'll get to in a matter of minutes, but can't afford a house. It might not be your fault.
Interesting article in one of the papers that says, and gen Z, especially just can't get in to the housing market, despite some money from their parents. You know, they have some student debt, we've seen house prices, obviously in our area and really across the country go up. It sounds like this group of people are really in a no win situation right now and, and are stuck on the sidelines.
Oh, yeah. You know what? There's so much pressure for millennials and gen Z. Is it gen Z, gen X, gen X, gen Z. There's so much pressure because their friends, some of them, some of their friends got lucky and they bought earlier in the market now. And now they're causing anxiety for people, especially for the the millennials it's causing anxiety because now they're ready to go and they want to start a family.
And. Yeah, they can't because they can't afford it and it's not, and it isn't, it's not their fault. And it's just, you know what I mean? Like, like, can you imagine all your friends, they bought a house there, you know, they're sharing how much their house is worth now. And you're barely scraping 20, $30,000 in your bank to put a down payment on.
And that doesn't, and that's not even enough now anymore. To buy a house and that's, what's causing anxiety and frustration and, and, and everything for, for the millennials. And don't forget their parents that's housing. Yeah. And it's, sometimes some of the parents don't have the money to even help them out, you know, and, and I get it, I get it.
I feel bad for these guys. And in the old days, the old days, what it was was, you know, You, you, you you're at home. You, you meet somebody, you get married. Do you want to start a family, buy a house? Like you didn't have to worry about the market going up 10, 20% every year. But now, you know, it's like almost you're going to have to buy it help a kid buy a house soon as he graduates high school.
Cause otherwise by the time he's finished university or college, the house is going to be worth the a hundred to 200,000 more age of Europe. But my family, when they don't have their own places there, the kid just kind of like either rent or. You live with your parents because they just can't afford it.
It's just a question of Europe in those places there that are happening now. Well, it's been happening for awhile kids living in the basement, especially the Italian boys. I'm Italian. Just so I can say that I was going to say, it sounds like you've got a story to tell there. Rob, he had a story to tell about about kids living in the baseline.
Yeah, we lived at home until we got married. That's the way it was back then, you know, the County Tanya, I think that's, my kids are not, everybody's doing it. Yeah. That's my kid's strategy. I think, which, you know, it's, there's some pros and cons to it. That's for sure. Oh, yeah, for sure. Well, if I was still at home, I think that'd be, I would have to definitely cut the lawn.
I have to do my chores
enforcement decisions. We only got a couple of minutes here, so I'll read the summary from the first one. And then we'll take a break and get your input on it. And we'll get to the second enforcement decision as well. So this agent represented buyers who were seeking a building lot. Or a home which could be torn down and then rebuilt the buyers became interested in a home which backed onto a Creek.
They noted their concern to the agent that homes backing onto the Creek did not appear to have been torn down while homes across the street had indicated that they would look into this and also ask the agent to look into it as well. The ancient indicated he would ask the listing representative. Okay.
The buyers ultimately purchased the home before the transaction closed, the complainants learned of impediments to their ability to rebuild or significantly expand the size of the home due to permitting requirements and restrictions pertaining to the Creek. The agent did not take reasonable steps to determine the material facts and appropriately advise the complainants about.
Issues which could impact their ability to rebuild and or expand the home. The agent was found to have violated sections four or five and 21 subsection. One of the code of ethics and was fined $6,000 by the real estate council of Ontario. We'll get your input on this recent enforcement decision and also another one as well.
They both date back to this past February. But before we do that, we'll take a quick break here on the Golfi real estate show. Hamilton edition on 900. CHML. And one last go round here on the Golfi real estate show Hamilton addition on 900. CHML my name's Eric, Sam Brin on the line. Once again, Rob Golfi and Lou tiller Rico sales representatives with Remax is Carmen Realty.
The Golfi team. Call them today (905) 575-7700. You'll be calling Hamilton and Burlington's number one, Remax team. In volume and unit sales. That number again? (905) 575-7700. The website is Rob Golfi.com. That's Rob G O L F i.com. If you have a question or a topic idea for a future show, email, the Golfi team questions@romGolfi.com and you can follow the Golfi team on Instagram, Facebook, and Twitter.
So a couple of Rico enforcement decisions that we got to. The one that I referenced just before the break these two homeowners were looking to. Tear down, rebuild this home next to a Creek. The agent said, yeah, I'll look into it. It didn't really materialize. And now these homeowners have found out that they can't tear down or expand out of their home because of permitting requirements and restrictions pertaining to the Creek.
Sounds like this agent did not do their homework. Well, the agent should have put down a due diligence clause for the the buyer to look into also, but, and then, and the agent should have re gotten information by email or something from the city or the town, so that they know that there can be things, anything backing onto the scarp mint.
Creeks, you know, anything like that, you gotta be very, very careful Lake like it, cause there's certain requirements. There are certain regulations and, and, and that should've been a red flag where all the houses across the street were all new, but not the ones backing onto the Creek. So there was probably obviously some restrictions there and the agent they, they asked the agent to look into it.
He looked into it, but he didn't get any information. Really just got verbal information. The one thing about real estate do not get verbal information. Even if you call the city, you might get some person that's there. Part-time yeah, yeah, no problem. You can build anything you want. Don't worry about it because guess what?
That person may not know what's going on. You better get backs and better get it on paper and you better get it on email. And that's the only way. So this agent. Made a mistake probably did a little bit of research, but not enough or the buyer and now the buyer is going to be paying the price. And, and who knows if the buyer is going to, you know, if the buyer, the buyer is going to Sue their, his own agent in regards to this, but but yeah, so be careful people when When you're buying a house at Baxalta any kind of Lake stream river easements as well.
Yeah. Be careful. There's. I'll tell you sometimes. Hey, on the Hamilton mountain, there is a pipeline going through everybody's backyard and it's it's, it's like a 15 foot easement. You can't put a pool in there. You, you gotta, you better know about that because like. You know, if you're buying this house and you're thinking you're going to put a pool in and then you start start digging and then you find out you got a 15 foot easement, a pipeline going through your backyard that, that ruins your plans of building putting a pool in.
So be very careful in our second scenario, an agent represented the sellers of a property. The agent seller clients accepted an offer from buyer a that was conditional on financing, home inspection and appraisal. Before the conditions in the first offer were fulfilled or waived, the agent presented an offer from buyers.
Or be a second offer, which was conditional on financing. The agent did not insert a clause, making the second offer conditional of the failure of the first offer the agent accepted the second offer. And when the conditions on the first offer were fulfilled, the agent's clients were at risk of being bound by agreements with two different offers.
At the end of the day, the agent was. Found, I guess, guilty of violating a few sections of the code of ethics was ordered to pay a $6,000 fine and to complete the Rico compliance and ethics in real estate part one course. This is an ouchie. Yes. And it's, it actually happened to us. We originally had an opera on a property when one of our agents had an offer on a property.
The agent didn't think we were going to firm up and sells it to somebody. Another agreement of purchase and sale on in the last three, four hours before our time was up to firm up the deal. So she literally sold this house to two people. So what happened was. We w we firmed up and then guess what the other people burned up.
So now this agent is got a situation on their hands that she sold to two different people. So now not only, so that house was tied up for over a year regarding in courts and stuff like that. So now the seller couldn't move or couldn't sell the property because now it's under litigation between two buyers.
And so anyway, Rico Rico find the the agent that had the listing. And I think there was a lawsuit made probably against the the agent for you know, not doing her job correctly. And so, you know, you gotta be careful about this agents sometimes. I don't know. And that was a veteran agent then.
That sold it to two different people. She was a veteran agent, so I don't know what happened. I don't know. But anyway, and at the end of all, that. The first opera, the first people that put the opera and ended up getting the house and the second people, well, they're, they're out of luck. And they, you know, they didn't get the house and they went through turmoil and, and it caused a lot of pain and suffering in regards mentally.
So you gotta be very, very careful when you're doing that. I just want to say one thing. I know we are short of time. We have a lady from Hamilton Jackie. From West Hamilton mountain, we have a question, but we're gonna, we got to do that question next week, Jackie. We, we don't, we're running out of time.
Anyway, Rick what's you're going to end the show. What are you going to say was gonna in the show by thanking you both Bob and Lou some great insight. And we have, yeah, we're, we'll have a lot of leftover topics for next week cause we just plum ran out of time, but Hey, for the hottest listings in town online, the website is Rob Golfi.com and call Hamilton and Burlington's number one, Remax team and volume and unit sales.
Nine Oh five five seven, five 7,700. Thanks for listening to the Golfi real estate show Hamilton edition. We're back next Saturday at nine on 900. CHML.