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‘Hotspot’ property goes for $100k over asking

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Canadian Realestate Magazine | 12 May 2015, 10:05 AM Agree 0
A potentially record-setting sales price has confirmed this Ontario city as the province’s hottest, say experts.
  • TLiving by Pascale Schwander | 14 May 2015, 10:43 AM Agree 0
    Lucky seller. Good for them.
  • TLiving by Pascale Schwander | 14 May 2015, 10:43 AM Agree 0
    Lucky seller. Good for them.
  • Ken Caldwell | 15 May 2015, 02:20 PM Agree 0
    Getting tired of an agent underpricing a property then bragging about selling it $100k over asking. The home sold in 2006 for $400,000 when they were asking $459,900. Are you trying to tell me in 9 years the asking price only went up $40,000. The agent underpriced it, and only put 4 pictures on MLS! It should have been placed on the market between $575k and $600k, 20 plus pictures and then see where the price would have landed.
    • Todd | 19 May 2015, 09:24 AM Agree 0
      It sounds like they don't list properties for market value, they allow the buyers to set "market". That can be a better strategy then asking $700,000 and doing 4 price reductions over a 3 month period and then sell it for $575,000. Not the way I do business but there are different strategies for different markets.
  • | 15 May 2015, 03:29 PM Agree 0
    You can bet they didn't get an inspection either - no conditions. Won't feel sorry for them should they encounter patent defects.
  • Premier Rentals | 18 May 2015, 07:04 PM Agree 0
    You are totally right Ken. A lot of homes are being way underpriced. I just was in the same scenario. I paid 84,000 over asking the property was listed at 100,777.....the property at minimum should of been listed somewhere between 180-200. The house needs work but there was 29 offers! I feel sorry for first time homebuyers in this marke in Hamilton
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