Ask a Realtor anything

[Bern]

I'm feeling like I'm being a bit thick here, so you'll have to spell it out directly for me Dave....

Are those 34 offers too high? Too low? Does the place need a lot of money put into it? Who's losing out here, the buyer(s) or the seller.

In a funny coincidence, a friend of mine lives quite close, but backs onto the 401. He's got boatloads of money, and doesn't believe that real estate is a good investment. I've never understood why anyone would back onto a 16 lane expressway when they could afford not to. Funny old world....

I suppose it depends on your snack bracket, for most of us plebes our home is our tax free retirement account. Once you have enough to support yourself for life you probably have many other opportunities to grow wealth creatively.

[bogey5]

sold price?

House Sigma says $532000

[ace in the hazard]

Are those 34 offers too high? Too low? Does the place need a lot of money put into it? Who's losing out here, the buyer(s) or the seller.

House is being sold "as is, where is".
No furnace/heat source.
In need of renovation.
Fire damage - the extent of which is unknown.
No representations on the condition or legality of the structure built above what was an in-ground swimming pool.

I can't conceive of a number low enough to offer on a disaster like that. I'll pass.

[davepratt]

sold price?

$532,000

[davepratt]

I'm feeling like I'm being a bit thick here, so you'll have to spell it out directly for me Dave....

Are those 34 offers too high? Too low? Does the place need a lot of money put into it? Who's losing out here, the buyer(s) or the seller.

In a funny coincidence, a friend of mine lives quite close, but backs onto the 401. He's got boatloads of money, and doesn't believe that real estate is a good investment. I've never understood why anyone would back onto a 16 lane expressway when they could afford not to. Funny old world....

The place needs about $200K and based on what these homes typically sell for when done up, the buyer at $532,000 can't make any money on a flip. It's an estate sale so really only the estate loses. Some people like the fact that you get very deep yards on those ones that back onto the 401.

[davepratt]

I can't conceive of a number low enough to offer on a disaster like that. I'll pass.

Good call.

[ace in the hazard]

The place needs about $200K and based on what these homes typically sell for when done up, the buyer at $532,000 can't make any money on a flip. It's an estate sale so really only the estate loses.

When I saw that it was being sold "by the estate of", I wondered if the poor guy died in the fire they are talking about

[davepratt]

When I saw that it was being sold "by the estate of", I wondered if the poor guy died in the fire they are talking about

Nope. The neighbours didn't even know he was burning wood in the basement for heat.

[davepratt]

I'm feeling like I'm being a bit thick here, so you'll have to spell it out directly for me Dave....

Are those 34 offers too high? Too low? Does the place need a lot of money put into it? Who's losing out here, the buyer(s) or the seller.

In a funny coincidence, a friend of mine lives quite close, but backs onto the 401. He's got boatloads of money, and doesn't believe that real estate is a good investment. I've never understood why anyone would back onto a 16 lane expressway when they could afford not to. Funny old world....

By any chance are his initials W.C. ?

[Frorose]

Good news is Realtor.ca will be releasing sold data. Waiting on details on how that will be set up.

[bogey5]

The place needs about $200K and based on what these homes typically sell for when done up, the buyer at $532,000 can't make any money on a flip. It's an estate sale so really only the estate loses. Some people like the fact that you get very deep yards on those ones that back onto the 401.

Don;t know the neighbourhood but $532k on a 50'+ lot could just be a teardown to build 2 more???

[davepratt]

Don;t know the neighbourhood but $532k on a 50'+ lot could just be a teardown to build 2 more???

You'd never get the severance in that neighbourhood.

[Dimpled Balls]

What are your thoughts on 62 Nesbitt Drive? Why hasn't it sold?

[davepratt]

What are your thoughts on 62 Nesbitt Drive? Why hasn't it sold?

Without actually seeing the home it's hard to tell but it is a very small home and it's been on the market for 6 months without a significant reduction in price so I'd have to say price has a great deal to do with it.

[Ignatius Reilly]

Without actually seeing the home it's hard to tell but it is a very small home and it's been on the market for 6 months without a significant reduction in price so I'd have to say price has a great deal to do with it.

Homes (or golf clubs) that are slow to sell, almost invariably come down to being overpriced.

Interesting in that that house is in a great "almost Rosedale, kinda Moore Park, somewhat Leaside" location, but it's also a tiny house on a small lot backing onto railway tracks. Hard to price that....

In the long run, I'd think the railway is the key factor. But I'm not a realtor....