Done Deals: Lower Asking Price Boosts Bids

Done Deals: Lower Asking Price Boosts Bids402 Glenlake Avenue
402 Glenlake Avenue

ASKING PRICE: $899,000
SELLING PRICE: $936,000
PREVIOUS SELLING PRICE: $605,000 (2007)
TAXES: $4,720 (2015)
DAYS ON THE MARKET: 28
LISTING AGENT: Elli Davis, Royal LePage Real Estate Services Ltd.

Published in The Globe and Mail, September 17, 2015

The Action: A great deal of traffic flowed through this detached, three-bedroom residence, but without an offer and with a number of other alternatives nearby, the price was dropped below $900,000 to attract more buyers.
The move put the residence on the radar of two potential buyers who made competing bids.

What They Got: Less than a 10-minute walk from High Park, this brick house with an attached garage displays traditional stained-glass windows and hardwood floors in areas such as the fireside living room, which has access to a sunroom with ceramic floors.

Since 2007, the original centre-hall plan was modified with a newly combined dining area and kitchen with a walkout to a deck and 57-by-75-foot lot, as well as a new roof, furnace and lower level recreation room with one of three bathrooms.

The Agent’s Take: “The location of it really helped sell it; it’s a very hot area,” agent Elli Davis says.

“It’s close to High Park and the subway.”

The seller’s improvements also increased the home’s value.

“Glenlake was a very nice house – a three-bedroom house – with a renovated kitchen and main-floor powder room,” Ms. Davis explains.

“[In one bedroom], the owner put in steps to a third floor, so it was more of a loft for storage or a play area.”


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