Wednesday, October 16, 2019

There's a four-bedroom home on the market for $1 in Toronto

The cheapest house on the Toronto market last month was listed at $399,900, but now there's another inexpensive listing here to give the 4 Lucy Ave. home a run for its money ⁠— with an asking price of only $1. 

The home is located at 51 Soudan Ave. near Yonge and Eglinton, and though it's pretty obviously the cheapest house on the Toronto housing market at the moment, it's also obvious that the price is strategic. 

An online listing describes the home as a "renovated three-bedroom home with lots of room for entertaining or family in one of the safest parts of Toronto. Excellent place to raise a Family."

toronto 1 dollar houseSo no, it's not actually going to sell for $1, or even $400,000 for that matter. 

Royal LePage Broker Terry Min told CTV News the stunt is meant to evoke reaction by setting the price as low as possible. 

1 dollar house toronto"We want to find out the reaction from the consumers and then I will tally it up and analyze the data," Min told CTV. 

"I get a lot of calls in regards to this property, however, it's people who are basically just curious about the price." 

1 dollar house torontoThe house has been on the market for about two weeks now, and they'll continue to accept offers until October 21. 

At that point, if no reasonable offers have been made, the asking price will be updated to reflect what the owner and broker believe to be reasonable.
1 dollar house torontoMin also told CTV his client was the one who requested the $1 asking price, and that leaving it open to the market often results in offers below market value.1 dollar house torontoThe trend of bizarre listings on the Toronto housing market appears to be gaining steam, as prices continue to skyrocket and homeowners (understandably) take every opportunity to sell for the highest possible amount.

So who knows what we'll see next. 


by Mira Miller via blogTO

No comments:

Post a Comment