Great location, even greater condition: The buying agent breaks it down.
Address: 96 Glebeholme Blvd.
Asking price: $429,000 (List prices are usually just a starting price in crazy, competitive Toronto. “Even though it will show as 138 per cent of list price, they paid market value,” says the buying agent.)
Space: A 22.5-foot-by-115-foot lot
The buyers, a thirtysomething couple with a 14-month-old baby, were looking for a bungalow or semi close to Greenwood Avenue—anywhere from Mortimer Avenue, south through Little India, down to the lake. “One of them grew up in Danforth Village,” says the buying agent, Joshua Jean-Baptiste of the Ware in Toronto Group. “The other is from back-country B.C., and wanted a slower pace of life than somewhere like the Annex.”
Owned by the same family since the early 1970s, the house was listed on MLS as being sold in “as is” condition. “That typically means a lot of work,” says Jean-Baptiste. “It usually comes with a list of potential problems: asbestos or termites or structural issues.” The buyers got a home inspection before making an offer and were pleasantly surprised to discover that the structure, electrical, roof, and all other essentials were in solid shape. “It was as perfect as you can get for an old house,” says Jean-Baptiste. “The previous owners took amazing care.” There’s also a detached garage in the back.
The interior is quite dated, from the patterned tile in the kitchen and bathroom to the emerald-green carpeting on the main floor that continues up the stairs. But because the structural basics are solid, the family can live in the house while chipping away at the renovations. “All the work to be done is cosmetic,” Jean-Baptiste says. On offer night, the couple competed against 14 other buyers. They kept their emotions in check and stood firm when the selling agent asked them to top up their initial amount. No one else went higher, and the house was theirs.