Monthly Market Report

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What Did That Home Sell For?

what did that home sell for?

Find out what the home down the street sold for

New FREE Service for London Homeowners.  Taking a look at what homes in your neighbourhood have sold for is a great way to educate yourself on the marketplace.  Knowing what a nearby home sold for can help you determine what your home might sell for if you decided to put it on the market.  We give you a head-start by giving you privileged access to recent Home Sales and Current Listings at No Cost or Obligation.

Find out what homes around you are currently selling for

See homes that are for sale or that have recently sold

Find out if home sales in your neighbourhood are trending

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ABOUT ME

ABOUT ME

Ken Small
London Ontario Real Estate Agent
CENTURY 21 First Canadian Corp. Brokerage
Office 

Cell 

 

My goal is to help you reach your goals. Whether you are buying or selling a home, I have the experience and drive to help you. I am devoted to understanding my client's needs, providing exceptional real estate experiences, and ensuring the process of buying and selling a home is a positive one.

 

Ken Small
London Ontario Real Estate Agent
CENTURY 21 First Canadian Corp. Brokerage
Office 

Cell 

 

My goal is to help you reach your goals. Whether you are buying or selling a home, I have the experience and drive to help you. I am devoted to understanding my client's needs, providing exceptional real estate experiences, and ensuring the process of buying and selling a home is a positive one.

 

THE C21 DIFFERENCE

At CENTURY 21®, we provide you with the most current information to assist you in making an educated decision when buying and selling real estate. For over 40 years we've set the gold standard in real estate.

With a global reach and local focus, we have a unique Canadian history supporting entrepreneurship, marketing, technology innovation, and homeowner education. We've been living and breathing real estate since 1976 when we first opened our doors in Richmond, BC, as "a family-run business of family-run businesses". Since then we've grown into one of the world's largest real estate companies.

We pride ourselves on being truly Canadian, with 400 offices, over 10,000 network members in 272 cities, our C21 family reaches from coast to coast.

Our Vision: To be the most sought after real estate brand in the world.

Our Mission: To define and deliver the gold standard in Canadian real estate.

We invest in making each client's dream, a reality. We're passionate about home ownership - we love what we do.

Century 21 Home

THE C21 DIFFERENCE

At CENTURY 21®, we provide you with the most current information to assist you in making an educated decision when buying and selling real estate. For over 40 years we've set the gold standard in real estate.

With a global reach and local focus, we have a unique Canadian history supporting entrepreneurship, marketing, technology innovation, and homeowner education. We've been living and breathing real estate since 1976 when we first opened our doors in Richmond, BC, as "a family-run business of family-run businesses". Since then we've grown into one of the world's largest real estate companies.

We pride ourselves on being truly Canadian, with 400 offices, over 10,000 network members in 272 cities, our C21 family reaches from coast to coast.

Our Vision: To be the most sought after real estate brand in the world.

Our Mission: To define and deliver the gold standard in Canadian real estate.

We invest in making each client's dream, a reality. We're passionate about home ownership - we love what we do.

Century 21 Home

Neighbourhood News

Want insight into a particular neighbourhood? Fill out the form to get started.

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TAKE THE NEXT STEP IN YOUR JOURNEY

I look forward to working with you and helping you reach your home ownership goals. Reach out to get in touch and start the process today. I offer:

Personalized service

Local market knowledge

Excellent communication

Strong negotiating skills

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TAKE THE NEXT STEP IN YOUR JOURNEY

I look forward to working with you and helping you reach your home ownership goals. Reach out to get in touch and start the process today. I offer:

Personalized service

Local market knowledge

Excellent communication

Strong negotiating skills

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MORTGAGES

One of the first steps in the process of buying your home is finding out how much you can afford. Contact me for help identifying potential lenders and pre-qualifying for your loan. Mortgage brokers want to be your source for mortgage advice providing help, advice and ongoing guidance. They simplify the financial side of home ownership.

Mortgage 1st time buyers

One of the first steps in the process of buying your home is finding out how much you can afford. Contact me for help identifying potential lenders and pre-qualifying for your loan. Mortgage brokers want to be your source for mortgage advice providing help, advice and ongoing guidance. They simplify the financial side of home ownership.

Mortgage 1st time buyers

MORTGAGE GLOSSARY

A to E

A

Agreement of purchase and sale

The legal contract between a purchaser and a seller. A professional REALTOR® has the knowledge and experience to best protect you with the most suitable clauses and conditions.

Amortization period

The number of years it takes to repay the entire amount of the financing based on a set of fixed payments.

Appraisal

The process of determining the market value of a property.

Assets

What you own or can call upon. Often used in determining net worth or in securing financing.

Assumption agreement

A legal document signed by a buyer that requires the buyer to assume responsibility for the obligations of an existing mortgage. If someone assumes your mortgage, make sure that you get a release from the mortgage company to ensure that you are no longer liable for the debt.

B

Blended payments

Equal payments consisting of both an interest and a principal component. Typically, while the payment amount does not change, the principal portion increases, while the interest portion decreases.

C

Canada mortgage and housing corporation (CMHC)

CMHC is a federal Crown corporation that administers the National Housing Act (NHA). Among other services, they also insure mortgages for lenders that are greater than 80% of the purchase price or value of the home. The cost of that insurance is paid for by the borrower and is generally added to the mortgage amount. These mortgages are often referred to as 'Hi-Ratio' mortgages.

 

Closed Mortgages

A mortgage that cannot be prepaid or renegotiated for a set period of time without penalties.

Closing Date

The date on which the new owner takes possession of the property and the sale becomes final.

Collateral

An asset, such as term of deposit, Canada Savings Bond, or automobile, that you offer as security for a loan.

CONVENTIONAL MORTGAGE

A mortgage up to 80% of the purchase price or the value of the property. A mortgage exceeding 80% is referred to as a 'Hi-Ratio' mortgage and the lender will require insurance for that mortgage.

Credit scoring

A system that assesses a borrower on a number of items, assigning points that are used to determine the borrower's credit worthiness.

D

Demand Loan

A loan where the balance must be repaid upon request.

Deposit

A sum of money deposited in trust by the purchaser on making an offer to purchase. When the offer is accepted by the vendor (seller), the deposit is held in trust by the listing real estate broker, lawyer, or notary until the closing of the sale, at which point it is given to the vendor. If a house does not close because of the purchaser's failure to comply with the terms set out in the offer, the purchaser forgoes the deposit, and it is given to the vendor as compensation for the breaking of the contract (the offer).

E

Equity

The difference between the market value of the property and any outstanding mortgages registered against the property. This difference belongs to the owner of that property.

F to J

F

First mortgage

A debt registered against a property that has first call on that property.

Fixed-rate mortgage

A mortgage for which the interest is set for the term of the mortgage.

G

Gross debt Service ratio (GDS)

It is one of the mathematical calculations used by the lenders to determine a borrower's capacity to repay a mortgage. It takes into account the mortgage payments, property taxes, approximate heating costs, and 50% of any maintenance fees, and this sum is then divided by the gross income of the applicants. Ratios up to 32% are acceptable.

Guarantor

A person with an established credit rating and sufficient earnings who guarantees to repay the loan for the borrower if the borrower does not.

H

High-ratio mortgage

A mortgage that exceeds 80% of the purchase price or appraised value of the property. This type of mortgage must be insured. To avoid the cost of the insurance, a 1st mortgage up to 80% is arranged and a 2nd mortgage for the balance (up to 90% of the purchase price).

I

Interest ADjustment Date (IAD)

The date on which the mortgage terms will begin. This date is usually the first date of the month following the closing. The interest cost for those days from the closing date to the first of the month are usually paid at closing. That is why it is always better to close your deal towards the end of the month.

Interest-only mortgage

A mortgage on which only the monthly interest cost is paid each month. The full principal remains outstanding. The payment is lower than an amortized mortgage since one is not paying any principal.

K to Z

M

Mortgage

A mortgage is a loan that uses a piece of the real estate as a security. Once that loan is paid-off, the lender provides a discharge for that mortgage.

Mortgagee

The financial institution or person (lender) who is lending the mortgage.

Mortgagor

The person who borrows the money using a mortgage.

O

Open mortgage

A mortgage that can be repaid at any time during the term without any penalty. For this convenience, the interest rate is between 0.75-1.00% higher than a closed mortgage. A good option if you are planning to sell your property or pay-off the mortgage entirely.

P

P.I.T.

Principal Interest, and property tax due on a mortgage. If your down payment is greater than 25% of the purchase price or appraised value, the lender will allow you to make your own property tax payments.

Portable Mortgage

An existing mortgage that can be transferred to a new property. One would want to port their mortgage in order to avoid any penalties, or if the interest rate is much lower than the current rates.

PREPAYMENT PENALTY
A fee charged a borrower by the lender when the borrower prepays all or part of a mortgage over and above the amount agreed upon. Although there is no law as to how a lender can charge you the penalty, a usual charge is the greater of the Interest Rate Differential (IRD) or 3 months interest.

PRIME

The lowest rate a financial institution charges its best customers.

PRINCIPAL
The original amount of a loan, before interest.

R

Rate commitment

The number of days the lender will guarantee the mortgage rate on a mortgage approval. This can vary lender to lender anywhere from 30 to 120 days.

Renewal

When the mortgage term has concluded, your mortgage is up for renewal. It is open at this time for prepayment in part or in full, then renew with the same lender or transfer to another lender at no cost.

S

Second Mortgage

A debt registered against a property that is secured by a second charge on the property.

Switch

To transfer an existing mortgage from one financial institution to another.

T

Term

The period of time that the financing agreement covers. The terms available are: 6 month,1,2,3,4,5,6,7,10 year terms, and the interest rates will be fixed for whatever term one chooses.

Total debt service (TDS) Ratio

It is the other mathematical calculations used by lenders to determine a borrower's capacity to repay a mortgage. It takes into account the mortgage payments, property taxes, approximate heating costs, and 50% of any maintenance fees, and any other monthly obligations (i.e. personal loans, car payments, lines of credit, credit cards debts, other mortgages, etc.), and this sum is then divided by the gross income of the applicants. Ratios up to 40% are acceptable.

V

Variable Rate Mortgage

A mortgage for which the interest rate fluctuates based on changes in prime.

Vendor take back (VTB) Mortgage

A mortgage provided by the vendor (seller) to the buyer.

HOME

The gold standard in Real Estate

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Ken Small
London Ontario Real Estate Agent
CENTURY 21 First Canadian Corp. Brokerage
Office 

Cell 

The gold standard in Real Estate

Search by Location | Search by Drive Time™
search near me
Ken Small
London Ontario Real Estate Agent
CENTURY 21 First Canadian Corp. Brokerage
Office 

Cell 

My Mission is to deliver extraordinary experiences

As a CENTURY 21® REALTOR®, I am committed to providing the highest quality service possible. My personal knowledge of the local real estate market is combined with the power of the CENTURY 21 brand - one of the world's most recognized names in real estate.

Featured Properties

Featured Properties

Neighbourhood News

Want insight into a particular neighbourhood? Fill out the form to get started.

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Branded Background

Your local expert - Buying

If you're buying, I can enhance your search process by helping you uncover what you may not have considered, whether it is schools, lifestyle, or the investment value of the property. Using our property search tools, you will be able to find the home that best meets your needs. Finally, with my knowledge of the market, real estate expertise and negotiating skills, I will help you get the best possible deal and handle all the critical details.

Branded Background

Your local expert - Buying

If you're buying, I can enhance your search process by helping you uncover what you may not have considered, whether it is schools, lifestyle, or the investment value of the property. Using our property search tools, you will be able to find the home that best meets your needs. Finally, with my knowledge of the market, real estate expertise and negotiating skills, I will help you get the best possible deal and handle all the critical details.

Your local expert - Selling

If you're selling, I will help you understand market factors that may influence price, preparation and the promotion of your property so that you can make an informed decision that best benefits your needs.  I will then present you with a customized marketing plan using state-of-the-art technology tools to reach the broadest market, both locally and internationally, for your property so that you can secure the best offer.  With CENTURY 21® as one of the largest global real estate brands and our Realtors' focus on the local market, I am confident that it will position you for success in your property sale.

Contact me with any questions regarding the current real estate market or my services. I look forward to working with you.

Century 21 Home

Your local expert - Selling

If you're selling, I will help you understand market factors that may influence price, preparation and the promotion of your property so that you can make an informed decision that best benefits your needs.  I will then present you with a customized marketing plan using state-of-the-art technology tools to reach the broadest market, both locally and internationally, for your property so that you can secure the best offer.  With CENTURY 21® as one of the largest global real estate brands and our Realtors' focus on the local market, I am confident that it will position you for success in your property sale.

Contact me with any questions regarding the current real estate market or my services. I look forward to working with you.

Century 21 Home

BUYING

Expect extraordinary

With the right expert by your side.

Expect Excellence

With the right expert by your side.

Advice Selling

We are here for you

Buying a home is one of the largest financial transactions you will make in your life, so there are many important questions to consider when purchasing a home. A CENTURY 21® REALTOR® goes beyond the transaction and will be there with you every step of the way. Trust the experience of a CENTURY 21 Realtor to help you find your dream home.

Advice Selling

We are here for you

Buying a home is one of the largest financial transactions you will make in your life, so there are many important questions to consider when purchasing a home. A CENTURY 21® REALTOR® goes beyond the transaction and will be there with you every step of the way. Trust the experience of a CENTURY 21 Realtor to help you find your dream home.

Supporting you every step of the way

If you're buying, I can enhance your search process by helping you uncover what you may not have considered. Whether it is schools, lifestyle, or the investment value of the property. Using our property search tools, you will be able to find the home that best meets your needs. Finally, with the knowledge of the market, real estate expertise and negotiating skills, I will help you get the best possible deal and handle all the critical details.

Branded Background

Featured listings

Featured listings

HOME BUYER'S GLOSSARY

AMORTIZATION SCHEDULE

The number of years it takes to repay the entire amount of the financing based on a set of fixed payments.

Equity

The process of determining the market value of a property.

Mortgage

A mortgage that can not be prepaid or negotiated for a set period of time without penalties.

Closing date

The date on which the new owner takes possession of the property and the sale becomes final.

Collateral

An asset, such as term deposit, Canada Savings Bond, or automobile, that you offer as security for a loan.

Deposit

A sum of money deposited in trust by the purchaser on making an offer to purchase. When the offer is accepted by the vendor (Seller), the deposit is held in trust by the listing real estate broker, lawyer, or notary, until the closing date of sale, at which point it is given to the vendor.

Equity

The difference between the market value of the property and any outstanding mortgages registered against the property. This difference belongs to the owner of that property.

Term

A mortgage is a loan that uses a piece of real estate as a security. Once the loan is paid-off, the lender provides a discharge for that mortgage.

Term

The period of time the financing agreement covers. The terms available are; 6 Month, 1,2,3,4,5,6,7,10 year terms, and the interest rate will be fixed for whatever term one chooses.

Neighbourhood News

Want insight into a particular neighbourhood? Fill out the form to get started.

neighborhood-news-iphone-mockup-cropped-300x276

Take the next step in your journey

I look forward to working with you and helping you reach your home ownership goals. Reach out to get in touch and start the process today. I offer:

Personalized service

Local market knowledge

Excellent communication

Strong negotiating skills

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SELLING

Get gold standard service

Selling a home can be a time consuming and confusing process if you don't have the right REALTOR® by your side.

Get gold standard service

Selling a home can be a time consuming and confusing process if you don't have the right REALTOR® by your side.

Advice Selling

SUPPORTING YOU EVERY STEP OF THE WAY

I will help you understand the market factors that may influence price, preparation and the promotion of your property so you can make an informed decision that best meets your needs. I will then present you with a customized marketing plan using state-of-the-art technology tools to reach the broadest market, both locally and internationally, for your property so you can secure the best offer.

With CENTURY 21® as one of the largest global real estate brands, and my focus on the local market, I am confident that it will position you for success in your property sale.

Advice Selling

SUPPORTING YOU EVERY STEP OF THE WAY

I will help you understand the market factors that may influence price, preparation and the promotion of your property so you can make an informed decision that best meets your needs. I will then present you with a customized marketing plan using state-of-the-art technology tools to reach the broadest market, both locally and internationally, for your property so you can secure the best offer.

With CENTURY 21® as one of the largest global real estate brands, and my focus on the local market, I am confident that it will position you for success in your property sale.

The power of Century 21®

Global Exposure

Your listing gets ultimate global market exposure to promote your property - both to the neighbourhood next door and to the other side of the world. Every CENTURY 21® listing gets included on Century21Global.com which is available in 36 countries and 18 languages. In addition, it is automatically listed on Zillow.com, the largest real estate and rental marketplace in the U.S.

Customized Marketing Plan

I work closely with you to create a plan to reach the broadest market for your property so you can secure the best offer. With CENTURY 21® we can better market your listings and stand out from the crowd.

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Neighbourhood News

Want insight into a particular neighbourhood? Fill out the form to get started.

neighborhood-news-iphone-mockup-cropped-300x276

Take the next step in your journey

I look forward to working with you and helping you reach your home ownership goals. Reach out to get in touch and start the process today. I offer:

Personalized service

Local market knowledge

Excellent communication

Strong negotiating skills

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Free Home Valuation

Free home valuation

Find out what your home is worth

Know your local real estate market. Whether you are considering a move or just want to know what’s happening with homes in your local community, it’s a good idea to get a home evaluation. This is a free tool that estimates how much your home is worth.

Find out what homes around you are currently selling for

See homes that are for sale or that have recently sold

Find out if home sales in your neighbourhood are trending

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