20 York Valley Cres., Toronto
Asking price: $6,999,988 (February, 2022)
Selling price: $6,900,000 (February, 2022)
Taxes: $16,500 (2021)
Days on the market: 16
Listing agent: Andrew Ipekian, Keller Williams Referred Urban Realty
The owners of this 1960s home on a roughly half-acre lot gave some thought to an early offer from a visitor on a preview tour, but decided to turn it down and see the result of the home getting a bit more market exposure. It took a few weeks to get a second and third offer, both of which came in around the same time. The better of those was about $100,000 short of their roughly $7-million list price.
“When you’re dealing with homes that are basically for land value or need a full gut renovation, it’s a different pool of buyers,” agent Andrew Ipekian said. “The person is not going to move in right away, or a month or two from now, but maybe one or three years from now.”
“It’s also not a $6.9-million purchase; it’s probably a $10-, $12- or $14-million purchase after you’re done with all the building plans or renovations.”
What they got
This four-bedroom house with an attached double garage provides 2,400 square feet of living space, including an office and formal living and dining rooms.
The basement has two casual recreation areas, including one with a second fireplace, and one of four bathrooms.
The agent’s take
“This one was special because it backs onto a ravine and there are no neighbours behind you,” Mr. Ipekian said.
“So, you had a lot of green space and tableland compared to other homes in the area.”
The surrounding community was also an asset. “Hoggs Hollow is known for having a Muskoka-like setting, but you’re still in the city,” Mr. Ipekian said.
“There are good schools in the area as well that were a big draw, and it’s close to the 401 highway and subway.”
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