The primary valve that halts the flow of water from the water meter into a home.
Mansard roof
A roof with four sides that slope upward from the roof edge to the square peak.
Manufactured housing
Prefabricated homes that can range from simple trailers to larger dwellings.
Mantel
The facing of stone, marble or other material around a fireplace.
Maintenance fee
The monthly assessment members of a homeowners' association pay for the repair and maintenance of common areas.
Managed-competition lots
Lots in which buyers choose between one of several builders.
Margin
The lender's "retail markup" on the mortgage. For example, if the index rate for an adjustable-rate mortgage is 5 percent but the lender has a 2.5 percentage-point margin, the rate the borrower will pay is 7.5 percent.
Market conditions
Factors affecting the sale and purchase of homes at a particular point in time.
Market value
The price that a piece of property sells for at a particular point in time.
Masonry
The brick or stone work on a building.
Master-planned community
A suburban plan that includes homes and commercial, work, educational and community facilities.
Maximum financing
A loan amount within 5 percent of the highest loan-to-value ratio allowed for a property.
Mechanical systems
A home's plumbing, wiring, heating and cooling systems.
Mechanic's lien
Subcontractors or suppliers sometimes will file an encumbrance, or mechanic's lien, against a property to seek payment.
Mediation
A dispute-resolution process in which a neutral party works to resolve contract differences.
Median price
The price of the house that falls in the middle of the total number of homes for sale in that area.
Merged credit report
A report that draws information from the Big Three credit-reporting companies: Equifax, Experian and TransUnion Corp.
Metes and bounds
A time-honored land surveying method of describing land in terms of shape and boundary dimensions.
Mint condition
Mint condition, or blue-ribbon condition, refers to a house that looks as close to new as possible.
Mixed-income housing
A neighborhood that contains houses of widely varying prices.
Mixed-use development
A project that combines several different functions, such as residential space above a commercial establishment or an entire development combining commercial, residential and public accommodations.
Modification
A change in any of the terms of the loan agreement.
Molding
Decorative trim elements applied to walls, ceilings, and window and door openings.
Money market account
Accounts that work like money market funds and allow individual investors to participate in certain managed investments and withdraw funds under most conditions.
Money market funds
A mutual fund that pools the resources of individuals to invest in certain managed investments.
If you are buying or selling a home in Mississauga or Brampton area, you've got to have Martin as your Mississauga Real Estate Agent. Martin has earned the respect and admiration of his most important critics; his clients. Martin sells all types of residential properties: houses, condominiums, townhouses and waterfront.
