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28 Spruce Street - CABBAGETOWN

28 Spruce Street - CABBAGETOWN

In September 2012, I was emailing back and forth with a reader (hey P!) about some Cabbagetown properties.

He pointed out property that had been on the market in

February 2012

 for $799,000...

And according to the listing at the time...

Here's Your Chance To Renovate Your Way!

As the reader pointed out in their email, this property was

featured in the Globe and Mail

 in September stating that 20 showings had happened for the property but, according to that article, after 24 days on the market...

The agent at the time waived his commission and sold the property under ask at $750,000...

To his brother.

So, I'm not saying anything sketchy happened here...

And I'm not saying that

the whole real estate

'Assignment Clause' thing in Vancouver that was reported by the Globe and Mail on Saturday

is sketchy either...

(Well, ummm, okay...maybe

that

is totally sketchy and it looks thethe Vancouver MLA agrees).

Because if it wasn't selling after 3 weeks and there were no takers, no biggie to sell it for ask (if that is what the sellers wanted) to a family member and waive your commission, right? 

The brother (and the agent?) flipped the house and re-listed it in

September

for $1,175,000.

Here are the photos for that 2012 listing...

I'm guessing it never sold because it is on the market again with the same dining room table and chairs...

But they have thankfully changed that fireplace from this...

To this...

It's such a simple change but it is sooooooooo much better.

Otherwise, other than some staging furniture, everything is the same.

It is now listed at $1,399,000.

Is that so high?

I don't think it looks so bad.  The doors are kind of cheap looking (for the price) and this bathroom from the 2012 listing isn't my favourite (unless that's the basement)...

And I would want to open up that back kitchen wall with big french doors...

Or something to open it up and bring in more light.

But for a detached house with a backyard and 1 parking spot in this neighbourhood that is move right in?

It's on a laneway so that might be tough and it is only 3 bedrooms.  

But it looks like a solid house with some minor tweaks.

P.S.  Is there such thing as 'Assignment Clause' in Ontario?  Just curious....

listing

2012 photos via

AND IT WENT FOR - 176 Wychwood Avenue - HUMEWOOD

AND IT WENT FOR - 176 Wychwood Avenue - HUMEWOOD

PRICE DROP - 24 Addington Avenue - LANSING

PRICE DROP - 24 Addington Avenue - LANSING