70 Chestnut Park Road - ROSEDALE
This 5+2 bedroom, 5 bathroom house on a 50 x 151.3 foot is listed at $3,195,000.
Is that too much?
It does seem like a lot when you realize how much work would have to go into this place. Is it even worth keeping? It isn't huge compared to the neighbours, especially the house to the west that is getting a major overhaul. But I suppose it could be restored with a huge extension just like the neighbour's.
And when you consider houses on the same street like the gutter at 34 Chestnut Park sold for $3,500,000 in June 2011 then sold 6 months later with an asking price of $4,500,000 (YES, a one million dollar increase in 6 months!!!)
Or that a house that was done down the street at 18 Chestnut Park Road sold for 98% of its $6,495,000 asking price....
The odds that this house will sell fast and close to the asking price are pretty likely.
But considering that the house at 131 South Drive that was more charming sold for $2,080,000 in October (but it was on a busy street, on a bus route and the lot wasn't quite as big)...
Or the house in not as good of a location that I thought needed a lot of work at 175 Crescent Road that sold for $3,075,000 in June (but it was on a 63.83 x 239 foot lot!)....
I would say the price is too high.
I don't think it will sell for asking. I think it will sell closer to $2,775,000. People will pay for the address even if the house needs a ton of work but I don't think it will go over $3 million.
