“If you live in Canada and retrieved this magazine from your doorstop, you likely had to brave the outdoor elements. Now step back for a moment and start to dream. Imagine, opening up the door to a vista of palm trees swaying amidst the warm breezes of the Gulf of Mexico, or traversing miles of pristine white sand beaches, or sipping an evening cocktail as you watch a brilliant red sunset as it is swallowed up by the vast gulf waters. Perhaps, today is the day to redefine your lifestyle…” So begins this special real estate publication put out recently by our friends at the Waterloo Region Record.

The US real estate market is screaming “bargain” for Canadian investors and it will be for some time. It’s an opportunity of a lifetime, but there’s no hurry. The American market will still take a number of years to stabilize and improve.

Buying real estate in US might be a great deal if you’re prepared to gamble. Prices are so low it might appear to be an opportune time to snatch up a retirement home or a dream vacation property, but experts warn that jumping into these major purchases with doing excessive research is a recipe for disaster.

The list of things to consider before buying in the US is long, ranging from estate taxes and property maintenance to insurance.

First of all, for property speculators, this seems like a great time to invest in Florida properties. However, speculators who are planning on investing in a place to rent or flip might want to hold off. The Florida market might not have bottomed out just yet and even once it does it will remain pretty flat for an extended period of time.

Furthermore, with so many investors flooding the market, the rental market has already become very competitive.

And if you’re thinking of renting out your foreign property, you should know that in some jurisdictions property taxes for foreigners are higher than for local residents. If you rent the property out, the rental income could be subject to a steep withholding tax.

Of course if you’re buying a Florida property for personal use and its resale potential is of little importance, now is still a great time. If you plan to enjoy your Florida home with your family, if you find something you like, at a reasonable price range, then buy it. The Canadian dollar is at a high rate now and interest rates are low.

Investing in real estate is always a good long-term decision. You may know that I’ve been a real estate investor much longer than I’ve been a real estate agent. A recent study by RBC suggests that Canadian billionaires tend to have about 15% of their assets in real estate. I know from my own personal experience that my real estate investments have done much better than my stocks and mutual funds. Buy, but be prepared to hold for a decade.

Two more things:

Florida is a hurricane-prone state. Insurance should be an item on your pre-purchased list.

Also, be prepared for the unexpected. The climate is always a factor with real estate. Many Canadian Florida property owners are surprised to learn that toilet water evaporates, causing damage to your pipes. To save your pipes, you could put saran wrap over your toilet bowl and tank or have a neighbor come in periodically and flush your toilet and run your taps.

Filed under: advice, Buying Real Estate, investing in real estate by Keith Marshall
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Every now and again, I highlight one home that I think stands out from amongst the approximately 1200 (currently) offered for sale. This time I’m looking at 221 Fairway Road in Kitchener.

I like this home because it is a good investment opportunity. It has a legal one-bedroom apartment with a separate entrance and large kitchen on the ground floor. It has separate access at the front of the apartment as well as having a walk-up to the backyard through the kitchen. Have your tenant pay your mortgage! The downstairs is bright, airy and fully self contained.

With the location central to downtown Kitchener, the Fairview Park Mall, Chicopee, the expressway (and even the top of Cambridge when the new bridge is built next year), this property could appeal to anyone with a car.

There is a garage, as well as parking for two cars side by side in the driveway.

And, it’s on a major bus route.

It is a great all-brick raised bungalow with many updates such as new driveway, ceramics in kitchen and washroom, and a new roof. There is a new garage door, new apartment kitchen floor, new paint.

It’s vacant. It’s move in ready. And there’s an open house today.

OPEN HOUSE Sun FEB 27th 2-4PM

Where: 221 Fairway Rd. N, Kitchener

When: February 13, 2011

Time: 2:00-4:00pm

Price: $284,900

More pictures on Feature Sheet.

Keith Marshall is a real estate agent with Prudential Grand Valley Realty, serving Kitchener, Waterloo and Cambridge. I aim to take the stress and mystery out of the home buying and selling process by giving you whatever information you need.

If you would like updates on open houses or new investment opportunities, I will send them to me if you email me what interests you.

Filed under: Buying Real Estate, investing in real estate, open house, Selling Real Estate by Keith Marshall
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Lee Valley’s Waterloo store is now under construction. It is set to open in August.

Lee Valley Tools is a Canadian business specializing in tools, hardware and gifts for woodworking and gardening. Previously residents of Waterloo Region would have to order by mail or internet with the closest stores in London, Burlington and Toronto (3).

Thanks Barbara for the heads up.

Click here for map.

Looking for a new place with a workshop? Check out our current listings

Filed under: Around Kitchener Waterloo, general news by Keith Marshall
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Last week on 365 things to do in Kitchener Waterloo we started out the week at the Waterloo Public Square at  SOUND FM 100.3 presents:
Hip Hop ‘n’ Skate. It was a great evening of urban beats.

Next we kicked off our newest holiday by Celebrating Family Day weekend with a movie deal at the Empire Theatre. There was fun for the whole family, popcorn too.

It was a busy weekend and we were just getting started. The 8th Annual UpTown Waterloo Ice Dogs Festival was held on Saturday. What a fun filled day loaded with activities and dogs, lots of dogs.

The next event was late nights and blue collar mornings, a fabulous art show with an exciting new artist.

After that, it was time to take a hike. We headed out to Schneider Flats at Freeport for a look at the Grand River.

On family day, we found at least 365 things to do. We listed most of them. It was time to pick and choose.

There was some Contemporary Quilting with Kate Carder-Thompson at the KW Art Gallery,next on the agenda. We just had to do that. Quilt off, eh?

And finally, we ended up at Waterloo’s China Garden Restaurant. The food there is really, really good.

Everyone around the offices of 365 things to do in Kitchener Waterloo seems to be so busy lately. It must be that time of year, top of the curve, between Christmas and March Break. Everyone barreling though life at full throttle. For me, I’m making an effort to slow down and smell the bacon.

Filed under: 365 things to do in Kitchener Waterloo, Around Kitchener Waterloo by Keith Marshall
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Finally the light rail debate has refocused from “light rail = tax hike” to “something will be done = tax hike”.  The choice to do nothing is not on the table. We will be doing something to address the future transportation needs in Waterloo Region. We will be either expanding our road network, getting busses or getting trains.

The questions Waterloo Residents should be asking are:

“Do I want to live in a city reliant on the car (like Mississauga)?”

“Will I be happy riding a bus?” Or

“Do I want something exciting, sleek and modern?”

Taxes are going to go up. Transportation needs have to be met. What’s it going to be?

Record article here.

Filed under: Around Kitchener Waterloo, editorial, general news by Keith Marshall
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