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CENTURY21 Northumberland Realty

Wally Ross 'helping you with all your Island Real Estate needs!'


Whatever your Prince Edward Island real estate needs you can rely on Wally Ross to search the MLS catalog of Prince Edward Island real estate listings to find just the right PEI property to suit your needs. Wally Ross and the Century21 Northumberland Realty team provide the services you are looking for when you choose a PEI real estate agent.

Search for the Property of YOUR Dreams! START HERE ...

SINGLE FAMILY HOMES MINI HOMES COTTAGES & SUMMER HOMES
LAND & BUILDING LOTS RECREATIONAL LOTS ACREAGES
COMMERCIAL MULTI-RESIDENTIAL FARM & AGRIBIZ
SUMMERSIDE NORTH SHORE
WEST PRINCE CHARLOTTETOWN & EAST
SOUTH SHORE WELLINGTON & AREA

Come back here regularly to see our NEWEST LISTINGS.

399 MAPLE STREET Summerside, C1N 2H5
399 MAPLE STREET
Summerside, C1N 2H5
$185,000201919287
Bedrooms: 4
Bathrooms: 2
Lot Size: acre(s)0.18
Living Area: (sq. ft.)1460

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9 CENTER LANE Chelton, C0B 1C0
9 CENTER LANE
Chelton, C0B 1C0
$234,900201917377
Bedrooms: 2
Bathrooms: 1
Lot Size: acre(s).27
Living Area: (sq. ft.)943

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209 ARCONA STREET Summerside, C1N2W5
209 ARCONA STREET
Summerside, C1N2W5
$124,500201917358
Bedrooms: 3
Bathrooms: 1.5
Lot Size: acre(s).154
Living Area: (sq. ft.)807

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1925 MILL ROAD Lower Freetown, CoB1L0
1925 MILL ROAD
Lower Freetown, CoB1L0
$249,900201917276
Bedrooms: 5
Bathrooms: 5
Lot Size: acre(s).59
Living Area: (sq. ft.)2550

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419 WATER STREET Summerside, C1N1C8
419 WATER STREET
Summerside, C1N1C8
$349,000201917215
Bedrooms: 2
Bathrooms: 2
Lot Size: acre(s).52
Living Area: (sq. ft.)1541

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194 RIVERBEND LANE North Granville, C0B1X0
194 RIVERBEND LANE
North Granville, C0B1X0
$675,000201917196
Bedrooms: 3
Bathrooms: 3
Lot Size: acre(s)1.44
Living Area: (sq. ft.)3238

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419 WATER STREET Summerside, C1N 1C8
419 WATER STREET
Summerside, C1N 1C8
$349,000201917119
Bedrooms: 2
Bathrooms: 2
Lot Size: acre(s).52
Living Area: (sq. ft.)1541

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194 RIVERBEND LANE North Granville, C0B1X0
194 RIVERBEND LANE
North Granville, C0B1X0
$675,000201917093
Bedrooms: 3
Bathrooms: 3
Lot Size: acre(s)1.44
Living Area: (sq. ft.)3238

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165 BELMONT STREET Summerside, C1N 1K1
165 BELMONT STREET
Summerside, C1N 1K1
$209,000201917077
Bedrooms: 4
Bathrooms: 1
Lot Size: acre(s).17
Living Area: (sq. ft.)2520

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32812 WESTERN ROAD Springhill, C0B2C0
32812 WESTERN ROAD
Springhill, C0B2C0
$219,000201916996
Bedrooms: 3
Bathrooms: 1
Lot Size: acre(s)10.01
Living Area: (sq. ft.)2211

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30 MARIE ROAD Mont Carmel, C0B 2E0
30 MARIE ROAD
Mont Carmel, C0B 2E0
$105,900201916885
Bedrooms: 2
Bathrooms: 2
Lot Size: acre(s).34
Living Area: (sq. ft.)1069

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2002 MALPEQUE ROAD Malpeque, C0B1M0
2002 MALPEQUE ROAD
Malpeque, C0B1M0
$178,000201916729
Bedrooms: 2
Bathrooms: 2
Lot Size: acre(s)1.84
Living Area: (sq. ft.)1.84

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1732 UNIONVALE Unionvale, C0B1V0
1732 UNIONVALE
Unionvale, C0B1V0
$85,900201916603
Bedrooms: 3
Bathrooms: 1
Lot Size: acre(s).727
Living Area: (sq. ft.)1134

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39 PINE DRIVE Cascumpec, C0B 1V0
39 PINE DRIVE
Cascumpec, C0B 1V0
$189,900201916534
Bedrooms: 2
Bathrooms: 1
Lot Size: acre(s).48
Living Area: (sq. ft.)864

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482 MACEWEN ROAD Summerside, C1N6E9
482 MACEWEN ROAD
Summerside, C1N6E9
$84,500201916310
Bedrooms: 2
Bathrooms: 1
Lot Size: acre(s)N/A
Living Area: (sq. ft.)

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151 BEARISTO  Darnley, C0B 1M0
151 BEARISTO
Darnley, C0B 1M0
$224,900201916167
Bedrooms: 3
Bathrooms: 2
Lot Size: acre(s).43
Living Area: (sq. ft.)1120

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75 SWEET PEA LANE Darnley, C0B 1M0
75 SWEET PEA LANE
Darnley, C0B 1M0
$229,900201916083
Bedrooms: 3
Bathrooms: 2
Lot Size: acre(s).77
Living Area: (sq. ft.)1092

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11217 ROUTE 6 Clinton C0B 1M0
11217 ROUTE 6
Clinton C0B 1M0
$130,000201916066
Bedrooms: 3
Bathrooms: 1
Lot Size: acre(s)1.23
Living Area: (sq. ft.)1110

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14 EDOUARD COURT Mont Carmel, C0B 2E0
14 EDOUARD COURT
Mont Carmel, C0B 2E0
$99,900201915990
Bedrooms: 2
Bathrooms: 1
Lot Size: acre(s)0.35
Living Area: (sq. ft.)680

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369 HAWTHORNE AVENUE Summerside, C1N2C9
369 HAWTHORNE AVENUE
Summerside, C1N2C9
$199,900201915974
Bedrooms: 2
Bathrooms: 1.5
Lot Size: acre(s)50x100
Living Area: (sq. ft.)1260

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125 OTTAWA STREET Summerside, C1N1W4
125 OTTAWA STREET
Summerside, C1N1W4
$169,900201915739
Bedrooms: 3
Bathrooms: 1
Lot Size: acre(s).172
Living Area: (sq. ft.).172

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27362 ALL WEATHER HWY Sherbrooke, C1N 4J4
27362 ALL WEATHER HWY
Sherbrooke, C1N 4J4
$124,900201915647
Bedrooms: 1
Bathrooms: 1
Lot Size: acre(s).275
Living Area: (sq. ft.)820

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225 ALLEN ROAD Tyne Valley, C0B2C0
225 ALLEN ROAD
Tyne Valley, C0B2C0
$89,900201915218
Bedrooms: 2
Bathrooms: 1
Lot Size: acre(s)1.43
Living Area: (sq. ft.)784

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374 COUNTY LINE ROAD, RO Kensington, C0B1M0
374 COUNTY LINE ROAD, RO
Kensington, C0B1M0
$369,000201915023
Bedrooms: 4
Bathrooms: 3
Lot Size: acre(s)1.46
Living Area: (sq. ft.)2096

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1129 ROUTE 152 Huntley, C0B1B0
1129 ROUTE 152
Huntley, C0B1B0
$59,900201917373
Bedrooms:
Bathrooms:
Lot Size: acre(s)6.73
Living Area: (sq. ft.)

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 AUCOIN LANE Mont Carmel, C0B 2E0
AUCOIN LANE
Mont Carmel, C0B 2E0
$24,900201917347
Bedrooms:
Bathrooms:
Lot Size: acre(s)0.36
Living Area: (sq. ft.)

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 AUCOIN LANE Mont Carmel, C0B 2E0
AUCOIN LANE
Mont Carmel, C0B 2E0
$24,900201917344
Bedrooms:
Bathrooms:
Lot Size: acre(s)
Living Area: (sq. ft.)

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 NORTH MARKET STREET Summerside,C1N 1L5
NORTH MARKET STREET
Summerside,C1N 1L5
$12,500201917257
Bedrooms:
Bathrooms:
Lot Size: acre(s)0.112
Living Area: (sq. ft.)

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57-60 CAMPBELLS WAY Cape Traverse, C0B1X0
57-60 CAMPBELLS WAY
Cape Traverse, C0B1X0
$349,000201917172
Bedrooms:
Bathrooms:
Lot Size: acre(s)8 Acres
Living Area: (sq. ft.)

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Lot 32 CURTIS DRIVE Kelvin Grove, C0B1M0
Lot 32 CURTIS DRIVE
Kelvin Grove, C0B1M0
$29,000201916844
Bedrooms:
Bathrooms:
Lot Size: acre(s)1.0
Living Area: (sq. ft.)

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Lot 31 CURTIS DRIVE Kelvin Grove, C0B1M0
Lot 31 CURTIS DRIVE
Kelvin Grove, C0B1M0
$29,000201916836
Bedrooms:
Bathrooms:
Lot Size: acre(s)1.17
Living Area: (sq. ft.)

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Lot 26 SUNNYSIDE DRIVE Long River, C0A 1M0
Lot 26 SUNNYSIDE DRIVE
Long River, C0A 1M0
$34,900201916749
Bedrooms:
Bathrooms:
Lot Size: acre(s)0.29
Living Area: (sq. ft.)

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Lot 25 SUNNYSIDE DRIVE Long River, C0A 1M0
Lot 25 SUNNYSIDE DRIVE
Long River, C0A 1M0
$39,900201916738
Bedrooms:
Bathrooms:
Lot Size: acre(s)0.32
Living Area: (sq. ft.)

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Lot 23 CAMPBELLS WAY Cape Traverse, C0B1X0
Lot 23 CAMPBELLS WAY
Cape Traverse, C0B1X0
$139,000201916043
Bedrooms:
Bathrooms:
Lot Size: acre(s).72
Living Area: (sq. ft.)

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173 SEAWOOD DRIVE Stanley Bridge, C0B1M0
173 SEAWOOD DRIVE
Stanley Bridge, C0B1M0
$19,500201915061
Bedrooms:
Bathrooms:
Lot Size: acre(s).30
Living Area: (sq. ft.)

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 DOSITHEE GALLANT ROA Cap Egmont, C0B2E0
DOSITHEE GALLANT ROA
Cap Egmont, C0B2E0
$17,900201915046
Bedrooms:
Bathrooms:
Lot Size: acre(s)1.8
Living Area: (sq. ft.)

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 MAIN STREET Alberton, C0B1B0
MAIN STREET
Alberton, C0B1B0
$300,000201913574
Bedrooms:
Bathrooms:
Lot Size: acre(s)3.74
Living Area: (sq. ft.)

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311 JENNIFER STREET Summerside, C1n6L4
311 JENNIFER STREET
Summerside, C1n6L4
$230,000201913468
Bedrooms:
Bathrooms:
Lot Size: acre(s).19
Living Area: (sq. ft.)2108

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101 ABEGWEIT BLVD Borden, Carleton C0B1X0
101 ABEGWEIT BLVD
Borden, Carleton C0B1X0
$775,000201906010
Bedrooms:
Bathrooms:
Lot Size: acre(s)
Living Area: (sq. ft.)11000

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464 MARCHBANK ROAD Montrose, C0B 1B0
464 MARCHBANK ROAD
Montrose, C0B 1B0
$159,000201826583
Bedrooms:
Bathrooms:
Lot Size: acre(s).48
Living Area: (sq. ft.)1188

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99 HARBOUR ROAD Miminegash, C0B1S0
99 HARBOUR ROAD
Miminegash, C0B1S0
$399,000201824251
Bedrooms:
Bathrooms:
Lot Size: acre(s)1.08
Living Area: (sq. ft.)2800

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325 CHURCH STREET Tignish, C0B 2B0
325 CHURCH STREET
Tignish, C0B 2B0
$319,000201824215
Bedrooms:
Bathrooms:
Lot Size: acre(s)1.78
Living Area: (sq. ft.)2280

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20808 TRANS CANADA HIGHWAY Tryon, C0A1J0
20808 TRANS CANADA HIGHWAY
Tryon, C0A1J0
$179,900201911449
Bedrooms:
Bathrooms:
Lot Size: acre(s)1.81
Living Area: (sq. ft.)

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20798  TRANS CANADA Tryon, C0A1J0
20798 TRANS CANADA
Tryon, C0A1J0
$304,900201910934
Bedrooms:
Bathrooms:
Lot Size: acre(s)3.32
Living Area: (sq. ft.)

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8348 ARGYLE SHORE Argyle, C0B 1C0
8348 ARGYLE SHORE
Argyle, C0B 1C0
$349,000201828426
Bedrooms:
Bathrooms:
Lot Size: acre(s)42.52 Ac
Living Area: (sq. ft.)

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Buying & Selling Real Estate on Prince Edward Island

Prince Edward Island is a small island located 13 km off the east coast of Canada. It is connected to the mainland by the Confederation Bridge as well as ferry and air. While Prince Edward Island is the smallest province in Canada it isn't small on scenery or lifestyle, and the Prince Edward Island waterfront real estate market is strong. Prince Edward Island, the Emerald Isle, is a great place to retire, holiday, or even use as a summer retreat from the hustle and bustle of big city life. Prince Edward Island waterfront real estate is plentiful due to the long jagged coastline and bays and inlets of the island. There is always something new just around the corner and PEI properties and PEI homes are readily available, always beautiful and well-kept, as well as being very affordable. Many visitors to Prince Edward Island, and there are upwards of a million in the summer, choose to enter the Prince Edward Island real estate market and buy a PEI property or PEI home of their own using it for their own vacation as well as netting a return on investment by renting it to other vacationers when not using it themselves. Many PEI realtors and Prince Edward Island real estate agents will manage your PEI property when you are away.

Prince Edward Island real estate affords anyone interested in becoming a Prince Edward Island real estate investor a secure financial instrument upon which to base a wealth-building plan. Prince Edward Island real estate, while perhaps not providing the potential for the large returns to be had in some urban areas, such as the recent "crazy" upturns in portions of the Toronto market, is much easier to break into with much lower cash requirements as well as not being subject to the potential risk and downside of a real estate market that over inflates and then falls. The Prince Edward Island real estate market at present still has many great deals on offer that will allow everyone from the family seeking their first PEI home to the savvy real estate investor looking for a Prince Edward Island commercial or multi-family rental investment.

Wally Ross and the Century21 Northumberland Realty team are your first choice when looking for a PEI realtor who can help you enter the Prince Edward Island real estate market. There are some restrictions on out of province ownership of Prince Edward Island waterfront real estate but these are not difficult to comply with and still allow for a considerable purchase of PEI property or the purchase of a PEI home.

The Prince Edward Island real estate market is generally though to divide into two distinct categories. There is the local market which includes PEI home owners, islanders generally who live and work here with their families year-round, buying a PEI home or other PEI property for their own use. Then there is a very strong summer Prince Edward Island real estate market which is made up of visitors and summer residents who come to PEI and buy PEI property looking to have a base for a different kind of lifestyle than that found in the bigger Canadian cities. More and more those wishing to be summer residents of Prince Edward Island buy into some of the excellent Prince Edward Island real estate developments such as Sunset Dunes, Granville on the Water and Sunbury Cove. These Prince Edward Island real estate developments offer serviced lots as well as turnkey PEI homes built to specification.

There is actually a third type of market which skews between these two. This is the retiree market. People from other parts of Canada are coming to Prince Edward Island and buying into the Prince Edward Island real estate market, often purchasing in the towns and cities especially buying into Summerside real estate. These people find that they can purchase a PEI home for a fraction of the price they sell their home in other parts of the country and use the released equity to finance part of their retirement.

If you are reaching the age when you are thinking about retiring, you will be planning budgets based on a reduced income and probably wondering how to get by on reduced circumstances. More and more people are beginning to see PEI as an answer to their retirement issues. PEI is a small island province off the east coast of Canada with a population of 140,000. The island population grows in the summertime to over a million as many summer residents come in to swell the population. However despite average Canadian winters and thanks in large part to the PEI real estate market which is considerably easier to jump into with lower PEI home values than home prices you would find in Toronto, many are seeing Prince Edward Island as their new home year round when entering their retirement.

As the island grows, so modern amenities are taking root. In the Summerside area their is a modern hospital, a sports complex with competition style pool and 2 hockey rinks, lots of restaurants, theatres, a boardwalk and a strong senior's community. You can buy a PEI home and enter the Prince Edward Island real estate market with home prices starting in the range of $50,000 for a fixer-upper up to $300,000 for a very large, heritage house that could be used as a B&B to create an income for those who do not want to entirely stop working, but are willing to put in summers working a business, or could be renovated into apartments. There are some homes that have already been renovated into up to 6 apartments that bring in a good income. Live in one - rent the rest!

What about an extra $500 - $3000 per month to add to your retirement income? Here are the average house prices for each province in Canada as of 2012 compared with $146,000 average price for PEI homes and the PEI real estate market (Canadian Real Estate Association)


British Columbia$730,000+ 0.2 %
Ontario$578,000– 13.0 %
Alberta$387,000– 4.9 %
Quebec$297,000+ 3.1 %
Manitoba$296,000+ 0.4 %
Saskatchewan$288,000– 6.5 %
Nova Scotia$249,000+ 1.6 %
Newfoundland / Labrador$246,000– 3.7 %
Prince Edward Island$230,000+ 18.4 %
New Brunswick$178,000+ 10.2 %
Canadian Average$495,000– 11.3 %

With PEI real estate prices at 41% of the national average that means the average homeowner could access just over $200,000 to place into another investment to help with retirement income. The table (above right) allows us to see province by province what the return would mean on a monthly basis if you sold your home elsewhere in Canada and leveraged that freed equity by purchasing in the Prince Edward Island real estate market.

Alternatively, you can use the value of PEI real estate further to your advantage and instead of investing your freed equity in financial instruments such as Mutual Funds, you could purchase a multi-residential property or several smaller, starter homes to use as rentals. You can roughly generate $400-500 of rental income from a home costing $50K to $70K. Homes of this type are readily available to the PEI real estate purchaser.

As you can see there are a number of scenarios involving a PEI real estate investment that would result in an easier lifestyle during your retirement. Check with Wally Ross, your PEI realtor and member of the Century21 PEI real estate team to discuss how this would work for you. PEI real estate prices are amongst the lowest in the country, we have reasonable climate and a friendly and relaxed lifestyle here on PEI with access to all modern amenities.

Century21 and the PEI Real Estate Market
If you are looking into buying a PEI home and if you are looking at a site such as this that is devoted to helping people buy PEI real estate you probably will, unless you have some $100K in cash, have to qualify for a mortgage. Getting a mortgage to invest in PEI real estate depends mainly on 2 factors, your credit score (a number between 300 and 900) that shows lenders your creditworthiness and your income which shows lendors how much you would be able to pay.

Understanding your Credit Score

In order to be an informed consumer you must first know your credit score. You can obtain a free copy of your credit report from Transunion or Equifax but the free version will not supply your credit score. For that information you must pay. Typically this costs just over $20 and you can get the results on the internet at either credit agencies' website. If your credit score is low you will have a much harder time financing your PEI real estate purchase. You ideally want a credit score of 700 or better although some lenders will finance your PEI home purchase at credit scores over 600. In this case usually the interest rate on your PEI real estate will be higher. In either case potential PEI real estate lenders will look very closely at your credit worthiness as expressed in your credit score and at your income to see what amount of debt you could easily service as well as other factors such as length of employment, other debt etc.

Steps to building your Credit Score & your chance of a PEI real estate purchase!

1. Pay bills ontime - use online payment systems or setup automatic payments if necessary. Failure to pay bills on time will result in a reduced credit score and problems with financing a PEI real estate purchase.
2. Ensure that you have money onhand ie savings. Start a savings program to automatically save a certain amount from your paycheque. Having savings shows lenders a certain fiscal responsibility and will increse the likelihood of earlier PEI home ownership.
3. Make sure that rent is paid on time and that lease obligations are met. This shows that you are "of your word" and will honour contractual agreements that you have made. Failure to do so can result in a negative credit report and delay PEI home ownership.
4. Reduce your debt, especially credit cards. Credit cards at best reduce the amount of money you will have to spend on your PEI real estate purchase or it could outright delay it until paid down. Debt service for credit card debt is taken off the amount you qualify for based on income and therefore negatively effect your ability to become PEI home owners.

Credit Score holding back PEI home ownership?

If either you do not have enough money as a downpayment or you are considered a less than stellar risk for PEI real estate mortgage you may have to opt for an insured loan or a "bad credit" mortgage. In either case this means that as the risk is higher you will pay more interest to borrow to buy that PEI home. So you may have to work at repairing your credit or save some more for a downpayment or wait until you have worked at your present employment longer if you want to avoid paying a penalty in interest rate for your past life choices or circumstances.

You should in any case see a number of banks and discuss your situation as well as mortgage brokers. Sometimes a mortgage broker can get you PEI home financing when a bank can not. Mortgage brokers shop around a number of lenders on your behalf including banks, finance companies and even sometimes private mortgage lenders. There are sometimes up front fees for mortgages arranged by mortgage brokers. You should make sure you know what fees, if any, are being charged on the front-end of your PEI real estate purchase.

Another point to remember when shopping for your PEI real estate mortgage includes not making other large purchases before seeking a mortgage. Wait until after to apply for a new car loan or indeed any loan. You want to be as debt free as possible going in.

If you are planning a PEI real estate purchase in the near future and you have a checkered credit history or perhaps a lack of credit history, drop by and talk to Wally Ross, your PEI realtor and part of the Century21 PEI real estate team. He can help you set a path to PEI home ownership.

Contact Wally

Lets get in touch and talk about your real estate needs.
I will get back to you shortly. If you need to speak to me sooner please call at the numbers below/beside.

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Direct:902-888-7811
Office (Sside):902-436-2265
Office (Chtown):902-201-9850
Fax:902-436-2687
Toll-free:1-888-701-0021
Email:wally@century21pei.com
629 Water St East, Summerside PE C1N4H8
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