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Sale of the Week: the Roncey rowhouse that sold for $150,000 over asking

Sale of the Week: the Roncey rowhouse that sold for $150,000 over asking

That's 123 per cent of the asking price

ADDRESS: 162 Fern Ave.
NEIGHBOURHOOD: Roncesvalles
AGENT: Mike Gryspeerdt, Keller Williams Neighbourhood Realty, Brokerage

THE PROPERTY: Located midway between Sorauren Avenue and High Park, this three-bedroom features a new kitchen, renovated bathroom, partly finished basement and an addition on back. Possibly the best selling point, however, is the rowhouse’s proximity to Roncesvalles’s farmer’s markets, coffee shops and Polish delis.

THE HISTORY: A family with three kids and a dog last called this place home, but the hundreds of people that showed up on the porch every morning will likely remember it as the headquarters of Owl & Goose, the neighbouhood’s locavore smoothie hotspot. The company’s mompreneur and founder is also the selling agent’s sister. We’d say he’s earned some kale juice in his stocking.

THE FATE: The new owners are a young family with a two-year old. They can look forward to sending their child to Fern Avenue Junior and Senior Public School a few doors down, as well as giving that incomplete basement and rear addition personal touches, increasing the property’s value even further.

THE SALE: When the agent priced 162 Fern Avenue at $650,000, the goal was to close at $730,000—the recent sale price of a larger, fully renovated home across the street. The sellers were shocked when the rowhouse blew that number away. Full disclosure for all the renovations (including having receipts for the work) played a huge part in giving the buyers confidence. It helped, too, that this was one of the only homes for sale in the area. Roncesvalles is evolving into one of the most valued areas in Toronto in spite of—or rather, thanks to—the once-maligned streetcar project along its namesake avenue, which is now complete.

BY THE NUMBERS:

• $801,779
• 123 per cent of asking price
• 105 showings
• 84 hip restaurants within 15 minutes’ walking distance
• 19 registered offers
• 9 days on market
• 3 bedrooms
• 2-car parking
• 1 renovated bathroom

  • Dick D

    Back-end looks like a shanti town

  • amugsgame

    Not sure who is doing the maligning, but the “much-maligned” streetcar project, which was relatively brief, is a distant memory now, and the results have been wonderful for the neighbourhood. Why does everyone in this city complain about everything? Talk to someone who lives in a city where there is no money available for needed infrastructure renewal and then maybe reconsider just how inconvenient these projects are.

  • Anonymous House Hunter

    What’s the point in listing a house for well under its value? Any businessman/woman or marketer knows that perception is reality… This was listed as a steal because the listing price was simply unrealistic. That’s why it sold for 123% its asking price and had so many showings and so many offers. Maybe this is a “surprise” to some, but for those people, newsflash: all houses in this area go for $750-$1M. The only shocker is how deceiving the agent was in listing for this price… It’s simply a deceptive marketing scam if you ask any honest person who is on the market looking for something affordable. You shouldn’t have wasted the time of those who are looking for a decent home in a nice neighbourhood for a fair price just to get some press. I went to see the home myself and walked away thinking – why the hell did they lst so cheap? I knew it was unaffordable the minute I walked away and realized it would for much higher.

  • bygeorge

    It’s well past time for the Real Estate Board to look at its policies and practices. I can’t imagine going to buy anything else and being told at the cash desk that the price had now substantially increased:- “Sorry, we were just kidding”. If a house is offered at $650,000 and someone comes along and offers $650,000, then there should be an obligation to sell it at that price. The whole thing stinks.

  • joshua

    650 is underpriced but 800 is over priced. Reasonable value would probably be in the 700k range.

  • poochydawg

    laflasflasfslj

 

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