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Mississauga house sells for $54,000 under asking after fourth price drop
Mississauga house sells for $1,595-million after sellers initially listed property for $2.1-milion in early July
www.theglobeandmail.com
Asking price: $1,649,000 (Mid-August, 2022)
Previous asking price: $1,749,000 (Early August, 2022); $1,849,000 (Late July, 2022); $1,949,000 (Mid-July, 2022) $2.1-million (Early July, 2022)
Selling price: $1,595,000 (Mid-August, 2022)
Taxes: $6,845 (2022)
Days on the market: Two
Listing agent: Kimmé Myles, Sotheby’s International Realty Canada
The house features a remodeled eat-in kitchen.Sotheby’s International Realty Canada
The action
Agent Kimmé Myles expected this four-bedroom house might sell for about $1.6-million, but the owners requested a listing price of $2.1-million based on its recent renovations and select location abutting a park near Mississauga’s Heartland Town Centre. House hunters disagreed with the lofty valuation and the price was cut four times over six weeks.“I knew our price was high, but my clients had done a lot of upgrades, so it was a beautifully-done home … and it backs onto a forest, which you don’t see very often,” Ms. Myles said.
“A property that wasn’t done like ours sold in three days for full list for $1.444-million, and we were listed at $1.949-million [at that time], so it was quite a spread, and we knew the market was already in transition.”
Once their price dipped to $1,649,000, the sellers received a conditional offer, then two more proposals.
“We gave the first person a chance to remove their conditions and they didn’t, so it sold to one of those two [other bidders] for $1.595-million,” Ms. Myles said.
“We sold for under list of $1.649-million, however, we did better than the property down the street, so all-in-all, everyone was happy.”
The 26-year-old home underwent significant renovations between 2016 and 2020, with updated windows and mechanics.Sotheby’s International Realty Canada
What they got
This 26-year-old house underwent significant renovations between 2016 and 2020, with updated windows and mechanics, a newly finished basement, and remodelling to the eat-in kitchen and all four bathrooms. A multitiered deck, shed and automatic sprinkler system were added to the back yard.The layout is modern with an open dining area and a rear living room with a gas fireplace.
A multitiered deck, shed and automatic sprinkler system fill out the back yard.Sotheby’s International Realty Canada
The agent’s take
“It’s a great location, very private and quiet at the end of a cul-de-sac, and there are only a few homes with a pie-like lot [shape],” Ms. Myles said.“It has great new appliances, it has a new doggie bath, and even the garage was fully insulated,” said Ms. Myles. “Everything was done.”
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