22 CUTHBERT CRES., TORONTO
ASKING PRICE $975,000
SELLING PRICE $1,050,000
PREVIOUS SELLING PRICE $879,000 (2010)
TAXES $5,637 (2012)
DAYS ON THE MARKET seven
LISTING AGENT Julie Hughes, Keller Williams Advantage Realty
THE ACTION: This two-storey house did not receive an offer when it was listed at $1.049-million the winter of 2010, nor after major renovations were done and the price dropped twice from $1.179 to $1.099-million in 2011.
Earlier this year, a different agent – Julie Hughes – recommended a two-page list of cosmetic improvements, de-cluttering and professional staging, as well as an attention grabbing price under $1-million. Together, these factors generated a high level of interest and a bidding war between five buyers after one week of exposure.
WHAT THEY GOT: The original four-bedroom plan of this over 90-year-old house was redesigned and reconfigured with three bedrooms, four bathrooms and modern living areas, plus a front parking pad.
There is an open entertaining area off the foyer with crown mouldings and one of two gas fireplaces, as well as a casual dining space off a kitchen finished with granite counters, ceramic tile heated floors, stainless steel appliances and a door to the deck, secluded yard and shed.
Hardwood floors appear on the main and second floors, but broadloom cushions the lower level den and fireside recreation room, which have above grade windows.
The master suite is the only bedroom upstairs with a private bathroom and balcony.
THE AGENT'S TAKE: "When you walk around your own house, you don't see things other people see," says Ms. Hughes, who saw the importance of eliminating minor, but visible deficiencies, such as unsightly pipes, missing pot light rims and clothing rods.
"They're little things, but when people are looking for homes, to them that's a big deal."
And once excess furniture was removed and rearranged, buyers could see the property's real size and potential. "When agents came through the second time, they said the place looked bigger," says Ms. Hughes. "[Plus]the 152 foot [deep]lot gives people the ability to build back and out."