Please BEWARE OF WILDLIFE INHABITING PROPERTY!!!! Home and grounds may be dangerous, please use caution when walking on decks, stairs, interior of property! FIXER home, value in the land! Could be great opportunity for a buyer!

So goes this MLS listing for a fixer-upper in Portland Oregon. It’s a short sale, likely an abandoned property, or a bank repo and at $114,900, I’d say, “buyer beware” – Hope you have all your shots. Raccoons can be quite dangerous and bigger than small dogs.

I’m currently working with a couple of clients looking for power of sale/handyman specials. In both cases, I’ve cautioned and coached them about what they are getting into. There is a lot at stake. This isn’t a TV show where we can get it all shipshape and flip it in an hour.

There was a house we recently saw that had had a major fire. The problems here would likely be structural. I’m not a home inspector but I’ve spent a lot of time with them. We saw another house that was a government repo – proceeds of crime. Was it a grow op? Will there be mold? We never got to ask. The price was so low, houses like those go fast. And so I predict, will this one infested with Oregonian wildlife.

If you’re handy, with the right house you can flip it and make a profit. But you have to know what to look for and you have to buy it almost always without inspection. You have to know what you’re doing.

Related post: Snakes in a house.

Filed under: advice, Buying Real Estate, real estate by Keith Marshall
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It has been almost a year since the Competition Bureau reached an agreement with the Canadian Real Estate Association, which made changes to the MLS. The agreement allows consumers to have a “mere listing” on the system.

A “mere listing” is a listing posted to the MLS by a licensed real estate agent. (Individuals are not allowed to post their homes for sale to the MLS by themselves). In theory, the posting agent takes no responsibility for the listing, is not liable in anyway for the accuracy of the information, provides no other service to the seller and no service to the potential buyers. Simply put, a home seller can pay a real estate agent a fee and the agent will put the information on the MLS.

That’s it.

But that’s something, as the MLS is the most powerful tool a home seller has – 90% of all residential real estate transactions are handled through the system.

So, it’s been almost a year. What’s really changed?

Not much.

The For Sale By Owner (FSBO) franchises have increased their charges, rolling “mere listings” into their offerings.

Some discount brokerages have sprouted up, but when potential home sellers call in to an automated answering service and are asked to leave information (about their most valuable asset) on voicemail, many are dissuaded right away by the prospect of dealing with this kind of no service brokerage. There was a story recently on property wire about a discount brokerage selling homes for $399.

“Our office did a deal recently with a discount brokerage. They were paying $1 commission and we had to negotiate with the seller above and beyond that. We managed to get the deal done but couldn’t collect our $1 because the listing company had already gone out of business.”

All in all, it’s safe to say that a year later, confusion reins supreme and the impact of changes to the MLS on the industry in general has been negligible.

A poll commissioned by LawPro and TitlePLUS, which sells title insurance, recently released shows mostly indifference and confusion exists in the marketplace.

First of all, the poll found that 72% of Canadians were not even aware of the changes made to the MLS.

Those that had heard that changes were made, were unclear of what the changes were.

Personally, I’ve had only two or three potential home sellers ask me about the changes – that’s not many.

Industry insiders say that the impact in the market in the first year postchanges has been insignificant.  If anything, the changes have impacted low-end, lower priced homes.

In my own poll, I found that private home sellers are often disappointed by the results that selling their own home brings. What’s the point of saving 5% if you end up selling for $20,000 less. Most say that they would never attempt to sell their own home again. It’s confusing and frustrating and at the end of the day many wonder if they saved anything. People are busy. They don’t have time to give up their weekends and afternoons for showings and visits to the lawyer…they don’t know how to handle multiple offers, the paperwork, the details, title insurance, irrevocable time.

Another part of the problem is that homebuyers know that private sellers are saving 5% so they want part of it. And then there are other problems with emotions, psychology and negotiating skills.

But I’m off topic.

There are currently about 1200 homes for sale listed on the MLS through the Kitchener Waterloo Real Estate Board. There are two main home selling franchises in Ontario. One of them has 1000 homes listed on MLS for all of Ontario. That’s not many.

That’s perspective.

Long story, short – the MLS rule change turned out to be a nonevent. Maybe someday it will matter.

Filed under: advice, editorial, general news, home owners, real estate vocabualry, Selling Real Estate by Keith Marshall
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Exceptionally well maintained all brick raised bungalow located in desirable Stanley Park area of Kitchener. This home is totally updated, redone and move in ready. It has new floors, a new kitchen and a finished L-shaped rec room.

The home is open concept. It gets lots of light.

Out back, the yard is deep with a new shed. The deck is large, going along the back of the house and has a sunk-in hot tub.

EXPIRED 

Currently for sale

Keith Marshall is a realtor with Prudential Grand Valley Realty, serving Kitchener, Waterloo and Cambridge. If you have any questions, I’m here to help. I aim to take the stress and mystery out of the home buying and selling process.

Filed under: Buying Real Estate, for sale by Keith Marshall
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When we first moved to Kitchener more than a decade ago, our townhouse condo overlooked a naturalized area commonly referred to as Mount Trashmore. In those days, there was nothing there except a giant hill and a muddy track. It was a barren wasteland. Today, construction is well underway of phase two – including a splash pad, a playground and a skate park.

McLennan Park is an almost 40-acre parcel of land on the south side of Ottawa Street South (between Strasburg and Westmount). The site is a former landfill (Mount Trashmore) under Region of Waterloo ownership that began operations in the 1950’s. It was closed in 1976. A Master Plan for McLennan Park was approved by Kitchener City Council in June 2003 and a lease agreement with the Region of Waterloo was executed in November 2006.

There are several positive environmental impacts of redeveloping a former landfill site and creating a new life for it. Park space and the environment are important to Kitchener residents. The city of Kitchener is developing additional park space for residents to enjoy.

By improving pedestrian trails, lighting and sporting and recreation opportunities, the park’s functionality and usage will be increased.

McLennan Park currently offers a number of amenities, including:

Toboggan hill

Pedestrian trails

Park amenities, including a lookout

Leash-free dog park

BMX bike park

Work is now underway on phase 2 of the park development, which will include:

Skatepark

Accessible play-structure

Splash pad

Washroom building

Beach volleyball and basketball courts

Picnic shelter

Larger lawn area

The park has come a long way in a short time. I hope the splash pad is ready in time for summer!

Looking for a home near here? Check out these listings.

Filed under: 365 things to do in Kitchener Waterloo, Around Kitchener Waterloo by Keith Marshall
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When I lived in Taichung, I was surprised one morning when I looked out my window and saw a very large mountain range. We’d moved there a few months earlier but the mountains had been engulfed in fog and smog so this was my first look. The central mountain range runs down the spine of Taiwan but in the six years I lived in Taichung, I only saw the mountains about ten times. And that’s a shame. Taiwan in the late 80’s and early 90’s was growing like crazy and pollution was becoming a real big issue.

When we moved to Kitchener Waterloo more than a decade ago, I was surprised many months later when I found out that we have a large river running through (past) our cities. Most cities are built in such a way that the river runs through the center of town (Galt) or the town is built beside the river (Hespeler). But the city centers of Kitchener Waterloo are far removed from the Grand.

We can’t change that.

But wouldn’t it be great if we had a park, a large park with trails that was on the Grand.

For more than 15 years, the City of Kitchener has had plans for a big park along the Grand River connected to a series of smaller parks by a river-side trail.

A parks master plan filed with the city last year called for a “signature” park along the river connected to waterfront trails and recommended the city start buying up flood plain lands in key areas.

Heritage Park could be a 600-acre parcel of land along the Grand River. It could be the focal point for the Walter Bean Grand River Trail (once completed).

Filed under: About me, Around Kitchener Waterloo by Keith Marshall
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