A recent mortgage rate drop may have lifted the mindset of the eight bidders.Supplied
623A McRoberts Ave., Toronto
Asking price: $888,000 (June, 2024)
Selling price: $1,078,000 (June, 2024)
Taxes: $3,759 (2023)
Days on the market: Seven
Listing agents: Ken and Jaime Ramsay, Harvey Kalles Real Estate Ltd.
The main and lower levels both offer similar essentials, including one bathroom, a kitchen and an entertaining area.Supplied
The action
This three-bedroom bungalow backing onto Prospect Cemetery was posted for $888,000 on June 3 – exactly a week after a renovated, but empty, bungalow across the street was listed for $899,000. That one failed to sell on its offer date and changed its price to $988,000 for five weeks and counting, yet this one locked down a $1.078-million deal within the first week.
“We were concerned about how that listing would impact us at first, but fortunately our listing was very well maintained, and our client took our advice and allowed us to assist with preparing the house for sale,” said agent Ken Ramsay.
“A lot of people have a hard time visualizing, so we see the massive impact staging has on helping people visualize themselves in a space,” said co-listing agent Jaime Ramsay.
As much as this property warranted the extra $190,000 it secured, a recent mortgage rate drop may have lifted the mindset of the eight bidders.
“We listed it the week that the Bank of Canada lowered interest rates and took offers the following week,” Mr. Ramsay said.
“We didn’t know what would happen, but it helped with our momentum, and once we got offers, it motivated other people to place offers.”
The house was refitted with brand-new components, such as the roof, windows and waterproofing.Supplied
What they got
Since 2011, this 55-year-old house was refitted with brand-new components, such as the roof, windows and waterproofing.
The main and lower levels both offer similar essentials, including one bathroom, a kitchen and an entertaining area.
One car can park in the garage and another outside on the 26- by 151-foot lot.
The agent’s take
“Not one person said anything to me about the cemetery,” said Mr. Ramsay.
“But it was a pretty deep lot with quite a bit of foliage, so it wasn’t as noticeable for people.”