CIR Realty/Supplied
29 Arbour Cres., S.E., Calgary
Asking price: $724,900 (April, 2024)
Selling price: $750,000 (April, 2024)
Taxes: $4,199 (2023)
Days on the market: Three
Listing agent: Joel Gwillim, CIR Realty
The interiors were redesigned a few years ago with a modern kitchen.brendan harris/Supplied
The action
Agent Joel Gwillim sold this two-bedroom bungalow to a colleague’s client before it hit the market. Months after the contract was signed, and days before the closing date, the buyer backed out of the deal. That sent the owners scrambling to open it up to the public in April.
“We were left trying to sell this again to facilitate my client’s purchase in another city, which could also spiral for that seller if they were purchasing something, so we were left with a can of worms,” said Mr. Gwillim.
Rather than lower the price, it was raised to $724,900 to match growing property values across Calgary. About 30 buyers turned up, four fought for ownership, and one made a grand proposal of $750,000.
“It shows the power of going to market and leveraging all the other agents and exposure online,” Mr. Gwillim said.
“It sucked to have that stress but getting a little more money and having a deposit relinquished, from a financial perspective, we ended up $40,000 to $50,000 ahead.”
The house has two bedrooms.brendan harris/Supplied
What they got
This 63-year-old house with a two-tiered deck and a double garage on a 56- by 100-foot lot is right next to a school.
A few years ago, the interiors were redesigned with a modern kitchen and a principal room with a sleek fireplace.
The basement also provides a recreation area with a wet bar, guest rooms and one of the house’s three bathrooms.
'There were a few renovated bungalows, but not to the same quality of ours,' says agent Joel Gwillim.brendan harris/Supplied
The agent’s take
“There were a few renovated bungalows, but not to the same quality of ours, and it was a corner lot with a south-facing back yard,” said Mr. Gwillim.
“If you were raising a family, you could literally open the door and watch your daughter or son walk into the school … and on the side, you could watch them play at the park too.”