Sellers stick to their price despite neighboring low-dollar sale

Sellers stick to their price despite neighboring low-dollar sale
Sellers stick to their price despite neighboring low-dollar sale
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Royal LePage Real Estate Services Ltd.

88 Keewatin Ave., Toronto

Asking price: $2,198,000 (February 2024)

Selling price: $2,150,000 (March 2024)

Taxes: $8,881 (2023)

Days on the market: Have

Listing agent: Belinda Lelli, Royal LePage Real Estate Services Ltd.

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The living room in the 100-year-old, 1,750-square-foot house has a wood-burning fireplace.Royal LePage Real Estate Services Ltd.

The action

This four-bedroom house sits just 200 yards from Yonge Street, but the proximity to such a busy thoroughfare wasn’t the main thing on some buyer’s minds. The asking price – $2.198-million – seemed ambitious, given that a neighboring house sold for significantly less – $1.68-million – only days earlier.

“The couple that lived [in the other house] bought it maybe 55 years ago for $200,000. So $1.68-million is great, but it’s also not for that area, its lot depth, and it was detached,” said agent Belinda Lelli.

“It was too low, so my clients were concerned, but we were wider and had more parking.”

In the end, the sellers came down a notch – $48,000 – to secure a deal.

“This story speaks to sellers who do not want to play the bidding war game and would rather list for what they are looking for, with room for negotiation,” Ms. Lelli said.

“I expressed to [my clients]if we’re not getting good offers, we’re going to adjust the price, but we didn’t have to go there.”

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The eat-in kitchen has access to a cedar deck, yard and garage.Royal LePage Real Estate Services Ltd.

What they got

This nearly 100-year-old house on a 35-by 197-foot lot has 1,750 square feet of living space, including a primary suite and a third bathroom that were created on the third floor in the 1980s.

The living room has a wood-burning fireplace, and both the dining room and eat-in kitchen have access to a cedar deck, yard, and garage. All can also be reached from the partially finished basement.

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A primary suite and third bathroom were created on the third floor in the 1980s.Royal LePage Real Estate Services Ltd.

The agent’s take

“This house boasts an incredible 35-by 197-feet deep lot with a private drive for five cars, a garage, and an incredible backyard oasis,” Ms. Lelli said.

“This home is approved for the largest possible garden suite [with] 1,291 square feet over two floors, and it has a 96 Walk Score, steps to North Toronto Collegiate, subway, restaurants, and the Kay Gardner Beltline.”

 
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