Keith Marshall
prudential grand valley realty
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Real estate vocabulary you might need to know: Total Debt Service Ratio

T Total Debt Service Ratio (TDS) is the ratio of annual (or Monthly) mortgage charges for principal, interest and taxes, plus payments on various other debts. (normally bank and finance company loans…), compared with the gross income of the borrower. The TDS ratio should be clearly differentiated from the gross debt service (GDS) ratio that is calculated based on principal, interest and taxes only.

Most lenders require an applicant to meet a particular TDS ratio, in addition to the GDS ratio. As with the GDS, required TDS ratios vary from lender to lender but most are in the range of 35% – 40%.

 

TDS = (Principle + Interest + Taxes + Loan Payments)/ Gross Income

GDS = (Principle + Interest + Taxes)/Gross Income

 

Past vocabulary words:

A B C D E F G H I J K L M N O P Q R S

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.

Buying a home near University of Waterloo, Wilfrid Laurier or Conestoga College

dietsMany parents, (like me) will soon have a son or daughter going away to college or university. If they are like me, what’s likely weighing heavily on their minds is the expenses this will involve. There’s nothing we can do about the high cost of tuition, books or travel. But there’s one major expense that we may be able to turn to an advantage. Rather than paying rent at a student residence for three or four years, think about buying a property and turning an expense into a income stream.

Buying a property near Conestoga College, University of Waterloo or Wilfrid Laurier means your son or daughter living there rent-free while renting rooms to other students. With interest rates still at historic lows, it’s a great time to invest in real estate. If you buy smart, you may be able to recover all or most of the cost of your child’s college housing expense. You might even be able to generate enough positive revenue to offset some of the other expenses of a university education. Further to that, house prices in Kitchener Waterloo are still rising. In the three or four years your child is in university, you could even make a profit on the equity you have built up in the property.

Think about it.

I’ve lived in Westmount/Uptown Waterloo amongst “student family” homes for the past ten years. The homes are better cared for than straight student rentals owned by absentee landlords. The kids take care of the room rentals, learn responsibility about keeping things clean and tidy, like taking out the garbage on garbage day, how to shovel the driveway…

I’ve noticed too that after four years, the student homes do not normally go back on the market. They tend to stay in the family perhaps giving the kids a place to continue living when they get their first real jobs.

If you’re thinking about buying a home for your son or daughter attending a Kitchener Waterloo school, please contact me. I’ve helped lots of people get the right home for their kids. Maybe its already here.

668 Wild Ginger Ave, Waterloo

wild ginger

Beautiful freehold townhome for sale. Close to Sir John A MacDonald Secondary School, shopping and natural area.

Gorgeous cedar deck off dinette overlooks private backyard. Open concept main floor with grand entranceway. Large bedrooms. Basement bathroom rough-in.

Where: 668 Wild Ginger Ave, Waterloo

Price: $259,900

MLS: 1134773

Sold 

For more properties like this one please visit listings

10 Ways To Make Your House Show Like A Model Home, In One Weekend, For Less Than $200

shackIf you are trying to sell your home, a little extra effort goes a long way to impress your buyers. There have been studies that show it takes buyers only seven seconds to decide whether or not they are going to buy a home. It’s crucial to make a good impression.

However not all of us have the cash on hand, or the time and energy, to do things that are really going to flip your home over to the next buyer quickly. But you might have the money on hand to install designer faucets, paint the walls and replace the old iron door handles with trendy new crystal knobs.

Here are some quick and easy ways to make your home show like a model home for under $200. These are easy-to-do tips and the type of thing an interior decorator would advise you to do to help “stage” a property so it is more attractive to buyers. The goal of this top ten list is to give you hints on how to make your home show better than your competitor’s home on the real estate market.

1. Clutter

You can get rid of all of the junk in your home for free. Simply get rid of anything you don’t need and haul it away in your car to the nearest dump or Goodwill. This means getting rid of “stuff” in the front yard, back yard, hallway and basement. Studies have shown that people perceive clutter as being indicative of a property that is decrepit or not worth much money. They also associate it with decay and the presence of vermin or bugs.

One thing in particular you need to get rid of is ashtrays. People consider houses that have been smoked in to be less desirable and also smelly.

You should also get rid of all junk in your yard. This includes things like broken garden hoses, old equipment and bicycles.

Even things you are actively using should be tucked out of sight before a house showing. This means clearing your kitchen counter of appliances like George Forman Grills or blenders or anything else that takes up counter space.

Outside you should make sure that your garden hoses are coiled up, your birdbath is clean of leaves and that you do not have sports equipment or bikes laying around your front porch.

2. Pets

If you have a dog or cat send them away for the day. Hide the litter box and any evidence of it’s aroma. Make sure there are no dog feces in the yard. This type of thing, along with its smells can convince a buyer that there are allergens, mites and pet urea in the house.  Houses with more pets are also considered to be less desirable than ones with no pets.

3. Kids

Get rid of strollers on the porch, inflatable kiddy pools in the back yard and any toys that may be lying around in the hallway. Get rid of baby gates and make sure there are no handprints or crayon drawings on the wall. Studies have also shown that homes that have kid’s stuff strewn about are considered to be less hygienic or valuable than those that don’t.

4. Front Yard 

The front yard and porch are very important as that is what your buyer will first see when they approach the home. Make sure that the grass is cut and that the garden is nicely tended.

If you have to, reseed the lawn and plant a few decorative bushes. It also does not hurt to spruce up the front door with a coat of paint and replace the house number plates and the doorknocker with new versions.

It also helps a lot to get rid of dead trees or bushes that may be on the property. Many people associate that with bad luck or a lack of caring for the property.

5. Paving Stones

The path to your front door and the driveway are also very important. Sunken paving stones or missing rocks make your home look ratty and cheap. It is quite easy to buy new stones, level them and redo these pathways.  Curved path ways look more contemporary than ones that are at right angles.

6. Paint 

If you have a wall that looks scratched up, beaten or damaged you are well advised to paint it. This can go a long way towards making a home look less shabby.  You should also make an attempt to plaster any holes or crumbled parts of walls in your home as well.  If paint is out of the question then you certainly could make a better impression by covering up flawed walls with wallpaper.

7. Fixtures

If your chandelier or light fixtures look dated, then go to some trouble to replace them. You can also make a home look more contemporary and like it is worth more money simply by making a few cosmetic changes like changing the light switch plates or electrical plates to designer versions.

8. Faucets and Spouts

Sometimes you can make a kitchen or bathroom look really glamorous simply by changing out your old faucets and spouts for glamorous new ones. There are lots of different styles on the market that can instantly transform a sink into a contemporary silver masterpiece of design and many of these fixtures also cost less than $200.  Furthermore it can be quite easy to install these fixtures all by yourself.

A tall spigot on a kitchen sink can make it look suddenly very European and modern. Replacing the showerhead in the bathroom with something quite snaky, long and silver with several water flow options can also help it seem more luxurious and expensive.

9. Flowers and Greenery

If you have cleared all the clutter, then you should have a home that looks more simple and kind of Zen in nature. One way to augment this air of designer sophistication is to put flowers or vases of tall grasses in every room.

For instance if you have a dining room table it is quite a good idea to put a display of fruit or flowers on the center table to make it seem more glamorous or traditional. It is also quite chic to place a small display of flowers or bamboo in the bathroom.  A rose floating in a bowl of water looks nice reflected in a dresser mirror in a bedroom.

10. Aromatherapy

It’s been proven that if an item for sale makes some kind of impression on the nose then people are also more likely to buy it. That is true for small ticket items but it is also true of big things like an entire house.

One of the tricks that professional real estate agents use is to simply bake some cookies in the over so the scent of cinnamon and vanilla fills the air as potential customers walk in the front door. This gives a place a more homey effect.

It is also nice to have aromatherapy candles burning in places like a downstairs bathroom where things might be a little dark. Soy candles are especially aromatic.

If you do not want to spend your time baking you can buy all kinds of professional scents for you home that help it seem more cozy or sophisticated.  You can even buy vanilla, cinnamon or apple pie scents that mimic the smells of baking.  Tropical scents such as pineapple and mango are also used by professional real estate agents and also the owners of clothing stores to encourage people to buy.

Of course if you do have some money to invest in preparing your home for sale, you can also hire a professional to stage your home for you. The benefits of this are usually a faster sale and more money for your property.  Many of these organizations can rent you furniture and accessories that can help make your home look better.  A home stager can also offer you an objective perspective on what exactly it is that can make your home look fresh, appealing and attractive to others.

With an eye for design and just a few hundred bucks you can usually fix up your home so that it is more appealing to buyers all by yourself.

Canadian marijuana grow ops head south to cheap houses

grow opBecause of lower property prices and the easing of U.S. marijuana laws a RCMP report reveals that many organized crime groups involved in marijuana grow ops are moving from Canada to the United States. According to the report, the U.S. housing crash has enticed many Vietnamese organized crime groups to move their marijuana growing operations south of the border where the lower cost of real estate allows them to operate a more profitable enterprise. They can also avoid police/customs detection at the border the RCMP report states.

Since 2007, house prices in the U.S. have dropped by roughly a third nationwide and in some markets, by more than half. During that same period, housing prices in Canada have been stable if not rising.