Downtown fixer-uppers are selling like hot cake

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$102,100 premium gets home on a popular west Toronto street

108 PALMERSTON AVE., TORONTO

ASKING PRICE $699,900

SELLING PRICE $802,000

PREVIOUS SELLING PRICE $187,700 (1995)

TAXES $4,128 (2013)

DAYS ON THE MARKET Seven

LISTING AGENT Kimmé Myles, Royal LePage Real Estate Services Ltd., Johnston and Daniel Division

The Action: Last fall, when homes were hard to come by on this popular downtown street, buyers fought over ones like this detached dwelling. Strategic pricing under $700,000 brought 150 parties through the doors between mid-week showings and weekend open houses. Six would-be buyers presented offers, including one $102,100 over the list price.

http://www.theglobeandmail.com/

Luxury real estate market on fire with double-digit gains

RE/MAX also pointed to the growing number of millionaires in Canada, up 6.5 per cent to 298,000 people in 2012 compared to a year earlier, citing the CapGemini report.

These days, what they call luxury are mostly fixer-upper detached homes in downtown area … Many are in fact once one notorious pockets such as the vicinity of the places like Regent Park.

Demand for luxury homes still strong in Canada, real estate company says
Vancouver Real Estate Shows Thriving Luxury Market

And this … $800K plus …

SOLD – 145 Galley Avenue – RONCENSVALLES

These days, luxury real estate looks like this …

This 5 bedroom, 2 bathroom detached house with a garage on a 20 x 128 foot lot was listed last week.

It was listed at $649,900.

It sold…

For $803,649.

NOTE: just noticed the listing said….

Please Leave The Kids At Home When Coming For A Visit – Not For The Faint Of Heart

Uh. Yeah.

by the MASH

Market

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