PRICE DROP #4- 74 Elm Avenue - ROSEDALE
I first posted this 4+1 bedroom, 6 bathroom house on a 34.5 x 124 foot lot at 74 Elm Avenue in South Rosedale at the end of October.
It was a flip of a house I had posted in April 2012. It was a 3 bedroom, 3 bathroom house then that needed work, but had a lot of potential. It was listed at $1,649,000. I thought it was $100,000 overpriced. It sold for $1,550,000.
A year and a half later, it was back on the market.
For some reason, when it was listed in October, it said that it was a 3 bedroom house.
So...$2,900,000 for a 3 bedroom house with a pea gravel backyard!?! Not to mention that the agent was also the owner!!!
There was no way this was selling that high.
It didn't sell and the price was dropped in November to $2,825,000.
Still too high.
When I posted the next price drop to $2,795,000 in March, it had become a 4+1 bedroom house. But regardless, it was still too high.
I thought if this was a 3 bedroom, then it would probably go closer to $2,400,000.
If it was really a 4 bedroom, it would sell closer to $2,550,000....maybe $2,650,000.
It didn't sell and the price was dropped again in May to $2,699,000.
Still too high and the price has been dropped again!
To $2,599,000.
Right in the middle.
This should should sell soon.
