If you haven’t gotten the memo, real estate bidding wars are back because, of course, they are! It’s Toronto.
Seriously, what would this city be without its overpriced housing market?
And likely, the next house that’s about to sell for way more than it’s listed is 85 Sharpe St.
The living room.
This two-bedroom, two-bathroom bungalow is definitely a flip, but not a bad one.
The main floor bathroom and a bedroom.
85 Sharpe St. sold in 2023 for $700,000 in “as is” condition, but over the last two years, the owners have renovated a lot.
The kitchen.
According to the listing, everything from the floors to the kitchen cabinets, bathrooms, basement, and more has gotten an update.
From the pictures, it looks good.
The view from the front entryway.
It’s clearly been staged, but the living room is bright and airy with engineered hardwood floors.
New appliances and cabinets in the kitchen.
The kitchen has new cabinets, stainless steel appliances, and quartz counters giving it a sleek, modern look.
The dining room.
They added a skylight to the dining room so it gets natural light.
The primary bedroom.
The main floor bedrooms are decently sized, although there’s no closet, so you’ll have to get a wardrobe.
The main floor bathroom.
The main floor bathroom has updated tiles and cabinets.
A bedroom in the basement.
The basement has an additional two bedrooms, a living room and a laundry room.
The basement living room.
According to the listing, the owners are even willing to close off the lower level and rough in a kitchen for the buyers, if you wanted to have an income suite down there.
The snow covered backyard.
However, the biggest selling point is the amount of land 85 Sharpe St. is sitting on. With a 30 by 125-foot property, there’s a ton of potential to expand or build a dream home one day.
A basement bedroom.
And the neighbourhood is a great place to do that. Houses in Birch Cliff / Cliffside can sell for over $4 million.
A main floor bedroom.
However, given all the renos and the general neighbourhood, it’s a bit of a shock that 85 Sharpe St. is listed for only $599,000.
The basement bathroom.
That’s $100,000 less than it was bought for a few years ago. Not to mention, earlier this year, they had it listed for $999,000.
The front entrance.
So, while it would be the deal of the year if someone snagged this renovated house for only $600,000, the listing price is a bit of a red herring.
The backyard.
The reality is low-balling the asking price is a strategy to drum up more interest so they can create a bidding war, and thus get offers closer to what the owners actually want to sell the house for … (hint: it’s $1 million).
