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done deal

Royal LePage Real Estate Services Ltd., Johnston and Daniel Division

79 Albertus Ave., Toronto

Asking price: $1,495,000

Selling price: $1,712,345

Previous selling price: $679,790 (2008)

Taxes: $6,220 (2019)

Days on the market: Five

Listing agents: Carol Lome, Grant Irwin and Brayden Irwin, Royal LePage Real Estate Services Ltd., Johnston and Daniel Division

The action

The updated kitchen features quartz counter tops.Royal LePage Real Estate Services Ltd., Johnston and Daniel Division

Agent Carol Lome said she sold five properties in five weeks over late March and April to buyers who felt they had to continue shopping while most of the population stayed home during the coronavirus pandemic. This semi-detached house, which came to market March 3, represents one of her last listings where house hunters enjoyed unfettered access.

“We had our offer date about a week ahead of COVID, so we had eight offers,” Ms. Lome said.

“There were three or four other semis offered on the market at the same time, but what this had going for it was the private drive and studio.”

What they got

The home has been extensively updated.Royal LePage Real Estate Services Ltd., Johnston and Daniel Division

This 1,405-square-foot house has been extensively updated over the past 10 years, with all new roofing and doors, as well as the addition of a south-facing deck, a patio and a private studio with heated floors and vaulted ceilings.

Interior makeovers were also given to the kitchen and 670-square-foot basement. The kitchen has quartz countertops. The lower level now has a guest room, recreation area and a second full bathroom.

The agent’s take

At the rear of the property is a studio the size of a two-car garage.Royal LePage Real Estate Services Ltd., Johnston and Daniel Division

“It’s on a 25-[foot]-by-133-foot lot, so it was a semi-detached house as big as a detached house – if not a little bit larger – and it had a private drive,” Ms. Lome said.

“It was immaculate, very well maintained and updated, but what was really special with this house was it had a studio at the rear. It was the size of a two-car garage with a storage section.”

Economist Mohamed El-Erian says that the coronavirus shutdown will create a buyer's market for real estate, offset by reduced incomes putting stress on the whole sector. El-Erian was in conversation with Rudyard Griffiths from the Munk Debates.

The Globe and Mail

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