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Busy street leads one way - to a bidding war Add to ...


ASKING PRICE $1,980,000

SELLING PRICE $2,258,000

PREVIOUS SELLING PRICE $442,000 (1989); $260,000 (1987); $211,000 (1985)

TAXES $5,972 (2010)


LISTING AGENT Marty Pospischil, Dexter Associates Realty

THE ACTION: This 2,689-square-foot house is situated on a heavily-treed lot next to a laneway and is literally steps to a busy street - both major drawbacks for some buyers, but less so for 36 parties who took a closer look during a private showing or the open house events. It quickly sold in a bidding war.

WHAT THEY GOT: The two-storey house was built on a 50- by 130-foot piece of land in 1925, but was given a new roof, skylights, gutters, windows, carpeting and a high-efficiency furnace in the last two years.

Public entertaining areas include a den, a living room with a wood burning fireplace, a dining room and an eat-in kitchen, along with a family room with sliding doors to the fenced backyard and parking.

Two of four bathrooms are located on the main floor – including a master ensuite – a third bathroom is placed amid the three bedrooms on the second level and a fourth bathroom serves the fifth bedroom, recreation area and kitchen in the basement.

THE AGENT’S TAKE: “Land sales with older homes have been the hottest segment of our market over spring, however, the market is slowing and demand is in a lull at the moment,” says agent Marty Pospischil, who cites media and industry reports of an overheated market as deterrents for buyers.

“For example, this home – with its own unique features sitting on the perfect lot – [in May] would have generated five to ten offers. [In June] we had to squeeze every resource to bring a couple buyers to the table.”

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