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done deal

Brad J. Lamb Realty Inc.

623 Goodwin Terrace, Peterborough, Ont.

Asking price: $905,000 (October, 2021)

Previous asking price: $799,900 (September, 2021)

Selling price: $882,500 (October, 2021)

Previous selling price: $610,000 (November, 2019); $510,000 (November, 2016)

Taxes: $5,445 (2021)

Days on the market: 15

Listing agent: Beth O’Donoghue, Brad J. Lamb Realty Inc.

The living and dining areas are open and airy with nine-foot ceilings.Brad J. Lamb Realty Inc.

The action

In Peterborough, traditional family-sized homes routinely sold in bidding wars this fall, but this four-bedroom house, bought from the original builder, didn’t generate the same interest among buyers. Agent Beth O’Donoghue pointed to some aspects of the house that, while appealing for single homeowners, were not greeted with as much enthusiasm by buyers with children. For instance, there was an extravagant home theatre in the basement, but many families look to basements as a prime multi-purpose entertainment space for their kids, or preferred that space used as an extra bedroom.

The house also had space to park just one vehicle, in a neighbourhood where two-car parking is the norm.

Priced originally at $799,900, the house drew multiple offers, but none acceptable to the seller. Relisted at $905,000, a new offer was made for $882,500 and the deal was sealed.

“I don’t like to underprice my properties‚” Ms. O’Donoghue said, “but it’s a strategy a lot of sellers were using in the area, so we gave it a shot.”

“There was one around the corner that listed at nearly the same price of $799,000 and ended up selling within seven days on their offer night for over $1-million. It was a similar-sized house, but it had a double car garage, bigger lot and a bedroom in the basement.”

Priced originally at $799,900, the house drew multiple offers, but none acceptable to the seller. Relisted at $905,000, a new offer was made for $882,500 and the deal was sealed.Brad J. Lamb Realty Inc.

What they got

Built less than 10 years ago, the house has porcelain heated floors in all three bathrooms and the eat-in kitchen. The kitchen is also outfitted with Corian countertops, oak cabinetry, stainless steel appliances and sliding doors to the deck and back yard.

The living and dining areas are open and airy with nine-foot ceilings.

There is an extravagant home theatre in the basement.Brad J. Lamb Realty Inc.

The agent’s take

“The subdivision it’s in had three different builders, so the seller bought one of the developer’s homes, so it was done up a bit more than other ones,” Ms. O’Donoghue said. “It’s pretty unique.”

Built less than 10 years ago, the house has porcelain heated floors in all three bathrooms and the eat-in kitchen.Brad J. Lamb Realty Inc.

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