- 4879 Cove Cliff Place
- Asking price: $1,849,900
- Selling price: $1,845,000
- Previous selling price: $818,000 (March 2004)
- Taxes: $7,181 (2007)
- Days on market: 88
- Listing agent: Patricia Houlihan, Macdonald Realty
This 2,856-square-foot waterfront home, overlooking Deep Cove, was on the market for more than a year with two realtors before it sold with multiple offers.
"Usually multiple offers occur in the first week that a home is on the market," real estate agent Patricia Houlihan says. "In this case we were hoping for multiples after the first weekend of open houses but that didn't happen."
Although the four-bedroom, three-bathroom house sits on a "fabulous" 12,512-sq.-ft., high-bank property with "amazing views," it also required some major renovations which is why it listed at below $2-million, Ms. Houlihan says.
The A-frame home, which sits at the end of a quiet cul-de-sac, has level entrance parking with a two-car garage, a private dock with deep-water moorage, and a 360-degree, wood-burning fireplace.
After advertising campaigns, several open houses and a steady stream of interested buyers, an offer was made, accepted — and fell through. "We listed the house in March 2008 and launched a significant advertising campaign, including television advertising and extensive print and internet ads," Ms. Houlihan says. "One overseas buyer wrote an offer based only on our website advertising alone, however the deal fell through."
The home went back on the market in June and two months later, two offers were received at the same time.
"Although sales are slowing, waterfront remains in high demand — it is just taking buyers longer to make up their minds," Ms. Houlihan says.
"The eventual buyers had been looking at this home for several months and loved it but, like many purchasers buying now, they were carefully considering their purchase. Unfortunately for them, by the time they decided to make an offer on the home, someone else also wanted the house so it sold for higher than it might have had they offered earlier and been the only offer."
Special to The Globe and Mail
