Friday, 31 January 2014

Dilapidated Toronto 5-bedroom home sells for over $800,000

In the Roncesvalles neighbourhood near High Park
By Mark Schadenberg
TORONTO – I follow many stories about the prices of real estate in Toronto, but I certainly do not know all the neighbourhoods or high-sought-after districts to buy a home.
Have you heard of Roncesvalles before?
It’s an area bordered by High Park and includes Bloor Street to the north and Queen to the south, and is therefore near the Gardiner Expressway and just west of the CNE grounds. The area is prominent enough to have its own Business association, see: roncesvallesvillage.ca
Anyway, a story in The Toronto Star this week describes a very modest (apparently has knob-and-tube wiring) and dated five-bedroom 2.5-storey which sold for over $800,000 and was viewed (in person and not simply online) by more than 300 prospects.
I don’t like to note the list price in stories like this as we know the price is set to be attractive and thereby lure in multiple offers to a higher target goal.
Estimated necessary renovations are tabbed at $400,000 for the house its listing Realtor noted in the story as dilapidated with a leaky roof and faulty furnace. Found at 145 Galley Avenue, the home received its press clippings due mostly to its condition as the current owner in her 80s had apparently inherited the property from her Mom. The photo depicts no front parking and frontage of less than 30 feet as the house is wedged into a street with other similar homes.
Among the area attractions is a Polish festival annually in mid-September (www.polishfestival.ca).


LINKS:
It’s Listed:


Thinking of buying a home in Oxford County, call me today !
Mark Schadenberg, Sales Representative
Senior Real Estate Specialist (SRES designation)
Royal LePage Triland Realty
757 Dundas St, Woodstock
www.wesellwoodstock.com
(519) 537-1553, cell or text
Email: mschadenberg@rogers.com
Twitter: markroyallepage

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