64 Highland Avenue - ROSEDALE
In July 2012, I posted a house at 106 Crescent Road...
It was a 5+1 bedroom, 6 bathroom house on a 36 x 138.73 foot lot. The asking price was $3,379,000.
Though I liked the house, I thought the price was a little high. It didn't sell and it was relisted at the same price in November 2012 with a price drop to $3,195,000 in September 2013.
It finally sold in January 2014 for $3,042,235.
Annnnnd...
Then it was back on the market in August 2014 for $2,499,000.
$453,235 LESS than what it sold for in January!?!
What happened!?!?!
I am not sure exactly but as one reader said...
The quoted statement from the listing suggests that something was built which does not meet zoning requirements. If so, this further suggests that they may have failed to obtain the necessary variances for what they went ahead and built. If so, the purchaser is accepting a mess that risks $$$ and effort to repair. Hence the discount.
It finally sold again for $2,300,000.
According to another reader...
(The flipper) did not get any permits or appovals, everything has to be taken apart and redone . Smartly the owner took title insurance and the insurance company will pay the difference between the purchase price of 3 M and the sale price 2.3 M. So all is good.
The same week that house was relisted at $2,495,000...
A house down the street from this house was put on the market at 57 Highland Avenue in Rosedale...
It was a 5 bedroom, 7 bathroom house on a 60.12 x 208.5 foot lot that sold a couple of weeks ago for $7,400,000.
When I posted it in August 2014, I thought it had a lot of similarities to 106 Crescent Road such as the posts at the front door, the paint colours, the mix of the wood furniture, the chairs with the same fabric.,,
Not to mention the art and the patio furniture.
But when a reader sent in the listing for this 7 bedroom, 8 bathroom house on a 50 x 121 foot lot with a 1 car garage and 2 parking spaces, they mentioned that this house had 'lots of X's and O's".
And by that, they meant the art that was in this house...
Was also the art in the house at 106 Crescent Road...
This house has the red and green Union Jack paintings...
That were also in 106 Crescent Road...
As well as that same table that was in the kitchen at 106 Crescent...
With those chairs that are now in the kitchen of this house...
So, though I wasn't certain about the house at 57 Highland Avenue...
This house was definitely done by the same person who did 106 Crescent Road in 2012.
In June 2013, before the Crescent Road house sold the first time around, this house was listed at $2,495,000.
Here are the photos of this house from that 2013 listing...
If memory serves me right, it sat on the market but finally sold around $2.3 million in the fall of 2013.
And it has now been flipped and is back on the market.
According to this Committee of Adjustment report from November 2014 for this house (see page 30)...
So.....as long as those conditions were followed...
It looks like whatever allegedly happened (and it was clearly something) at 106 Crescent Road is hopefully not going to happen here.
The asking price is $6,785,000.