The placement of improvements on a property that are excessive and consequently inconsistent with the overall size, quality, or appearance of other improvements within the general vicinity. An example would be the construction of a large expensive home within a neighborhood consisting almost exclusively of small, detached, order bungalows.

The cost of the over improved property may not be reflected in market value as determined by the average buyer ready, willing, and able to acquire the property. For appraisal purposes, the appraiser would typically calculate a loss in value (depreciation), owing to locational obsolescence. The loss in value is due to negative external influences in the immediate area.

Past vocabulary words:

A B C D E F G H I J K L M N

Keith Marshall is a real estate agent with Prudential Grand Valley Realty, serving Kitchener, Waterloo and Cambridge. If you’re thinking of buying or selling your home, please give me a call. I aim to take the stress and mystery out of the home buying and selling process.

If you have real estate questions, you can chat with me live on my homepage or contact me by phone or email. Sign up for my newsletter.

Filed under: real estate vocabualry by Keith Marshall
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Lovely executive home in Beechwood Forest for sale. Beautifully decorated.

Great neighborhood. Monarch and Lynnvalley Parks nearby.

Four bedroom. Four bathroom. Bright open concept main floor. Lots of light in the kitchen.

Separate dining room. Family room with gas fireplace off the kitchen.

Full master bedroom ensuite with whirlpool.

Finished basement with office, hobby room and workroom.

MLS# 1118035

$449,999

 SOLD

Currently for sale

Filed under: Buying Real Estate, for sale, open house, Selling Real Estate by Keith Marshall
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We all know that first impressions are very important. In real estate this translates into your home’s curb appeal. I’ve given tips on curb appeal here before.

But what about your neighbor’s house? What is the condition of their front yard? What if your neighbor’s front porch is cluttered with flyers and junk? What if your neighbor’s driveway has an old car sitting in it, rusting away? What can you do?

First of all, you must be approach the issue very carefully, diplomatically and delicately. Your neighbor may not realize that their home is affecting your property value. We all think that everyone thinks just like us, but they don’t.

Tread carefully. Look for solutions. Avoid conflict. Its important you get this right. A lot of money is at stake.

In the US, the National Association of Realtors estimates that an “eyesore house” in a neighborhood shaves about 10% off the value of a nearby listing.

The most common complaints involve fences, trees, tall weeds and grass, kids, pets, toys, old cars, piles of junk and garbage.

So, what should you do?

The first step should be a civil conversation about your concerns. In many cases you’ll find that your neighbor is very accommodating. If you’re uncomfortable doing this, your real estate agent can help.

Another option is to help your neighbor with the issue. If their yard and front porch is full of junk, offer to help take it to the dump. Better yet, rent a bin and get all the neighbors involved in a “neighborhood improvement project”. With an overgrown yard, offer to mow it and get it in shape. Hire a landscaping company to do your yard and the houses on both sides. If that sounds like a lot of money, just think what 10% of your selling price translates into.

If those approaches fail, your last option (and not the best one) is to research the city bylaws and ask to have them enforced.

Filed under: advice, Selling Real Estate by Keith Marshall
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If a real estate listing does not give the roof’s age, it’s likely near the end of its life. Roofs are expensive (as are new windows and furnaces). When looking at buying a home, pay special attention to roofs.

A new roof can cost anywhere from $4000- $10,000, depending on the size of your roof. Generally speaking, if you measure the size of your roof, then calculate the cost of shingles at your local Rona, Lowes or Home Depot then double it to add labor cost. That will give you a good idea of what your new roof should cost.

Asphalt shingles last 12-20 years. Don’t rely on manufacturers’ ratings. 25 year shingles might need replacing in 12 years. 40 year shingles often need replacing in 20. Shingles wear out faster where there are lower slopes and with more sun exposure. The southwest roof will wear out faster than the northeast roof.

The average roof life is 15 years. If your house is 30 years old, you’re likely due for a new roof.

Download parts of the roof PDF.

Related posts –> What the inspector told me about:

your furnace age

your furnace efficiency

your furnace venting pipes

Filed under: advice, Buying Real Estate, home owners, real estate vocabualry by Keith Marshall
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As a real estate agent, I know that the most important thing for most people buying a home is location. But how do people choose location? Proximity to workplaces, transportation, parks, amenities and good schools are important. For many parents, being near a good school is paramount.

When we moved our family to Waterloo Region, my two children were going into junior kindergarten and grade one. Because we knew no one in the whole Region of Waterloo and knew nothing about anything (we accepted a transfer here from Taipei), we rented a condo townhouse for a year and began researching neighborhoods, homes and schools.

While researching schools, we quickly discovered that the school our kids were attending (Trillium Public School) was poorly ranked – near the bottom of list – #73 out of 76 schools in Waterloo Region District School Board. Oh no!

The bottom of the list:

Waterloo Region District School Board

Catholic Elementary

That knowledge helped us redefine our home search to areas with highly ranked schools. We focused on the areas of Westmount, Laurelwood and Lexington, the three top areas (based on testing scores). We eventually bought a house close to Empire School – the highest ranked school in the region.

The top of the list:

Waterloo Region District School Board

Catholic Elementary

Our kids are now in high school. They are well-adjusted and active teenagers. They are normal. They have nice friends. We’ve kept them active, in sports and music and other activities. We’ve been involved with their lives and that’s important. However, I also believe that their educational environment has had a large impact in their development. Schools are important.

Top ten high schools

Catholic Board secondary schools ranked

The Fraser Institute

The Fraser Institute is an independent Canadian public policy research and educational organization with active research ties with similar independent organizations in more than 75 countries around the world. Throughout their exploration of issues that affect citizens, the Fraser Institute attempts to discuss complex economic subjects in a manner that can be easily understood by everyone.

In order to improve public institutions such as schools, their performance needs to be measured. With the Frazier Institute’s research into the performance of Canadian schools, you can compare the performance of your local school to those in other communities. This helps you make more informed choices and points to areas in which these institutions can improve.

School performance

How does your school rate? The Frazier Institute’s school report cards measure the academic performance of schools in Alberta, British Columbia, Ontario, and Quebec based on the results of province-wide tests.

For complete results, visit The Frasier Institute.

Keith Marshall

Keith Marshall is a real estate agent with Prudential Grand Valley Realty, serving Kitchener, Waterloo and Cambridge. If you’re thinking of buying or selling your home, please give me a call. I aim to take the stress and mystery out of the home buying and selling process.

If you have real estate questions, or questions about different neighborhoods and developments or things to do in KW, you can chat with me live on my homepage or contact me by phone or email. Sign up for my newsletter.

Filed under: advice, Around Kitchener Waterloo, Buying Real Estate, editorial, neighborhood update by Keith Marshall
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