January 29

5 Waterlily Trail, King N5180784

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In a hot real estate market, the phrase "sold over asking" has become all too common. I wanted to share with you the real life story behind what those 3 words really mean to a young couple I recently represented.

As first-time sellers, Jess and David were understandably nervous about the whole process.  They had young kids, busy careers and not enough hours in the day to live their life and get their home ready.

Planning The Work...

Our first task was to develop a pre-list plan that would fit their busy lifestyle, alleviate their anxieties, but would be comprehensive enough to produce an extraordinary outcome.

The checklist was E-X-T-E-N-S-I-V-E, covering everything from installing a new backsplash and fresh coat of paint, to landscaping and LOTS of decluttering.  

Staying on schedule was a struggle.  

Working The Plan...

Babysitters were called in, lots of takeout dinner but my clients were determined to get their home in showroom condition.  Overall, approximately $5,000 was spent in repairs and upgrades.

Once the home was ready, my team moved in to clean, furnish, photograph and market the bejeezus out of the property. We listed the home at $779,000, which was a price that would generate multiple offers while still being high enough to save my clients from being overrun by showing requests from buyers lacking the budget to make a competitive offer. 

The End Result

To Jess and David's delight, seven offers were submitted and all of them were for above asking!

Accepting the best offer of $863,000 meant that the couple could complete the renovations on their new home that they had previously thought would have to wait a few years.

AWESOME!!

*****

How Others Compare

Fast forward a few weeks and the same model home only 9 doors down from my client's came on the market.  Same floor plan, similar finishes and sold for $750,000 which was $113,000 LESS than I got for my clients only a few weeks earlier. 

They used the same pricing strategy we did, similar wording in their listing and got much different results.

Why?

We told a story to buyers that this home was perfect for a young family and it resonated. Prepping your listing properly takes the guesswork out of the equation and in this case, it netted my clients an additional $113,000!!

The phrase "sold over asking" has become almost ubiquitous. But for this wonderful, hardworking couple, it meant the ability to turn their new home into their forever house.

Congrats folks!


Check Out The Virtual Tour!

Do you see the difference?  

Below are the two listings you just read about.  

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5 Waterlily Trail
Schomberg King L0G 1T0

$779,000
Freehold beds: 3 baths: 4.0

SOLD OVER THE ASKING PRICE!
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Status:
Sold
Sold Date:
Apr 12, 2021
Sold in:
6 days
Prop. Type:
Freehold
MLS® Num:
N5180784
Bedrooms:
3
Bathrooms:
4
Stunning Townhome In Schomberg! Airy Main Floor W/Hardwood Floors, 9' Ceilings, Crown Moulding & Formal Dining Rm. Modern Kitchen W/ Gas Range, Quartz Counters, Breakfast Bar W/ Walkout To Extra-Deep Backyard. Finished Basement W/Pot Lights, Laminate Floors And 3Pc Bath. Large Master W/Ensuite Bath & Walk-In Closet. Direct Garage Access From House, 2nd Flr. Laundry Shop Local With Dining, Day Care, Groceries, Pharmacies, Lcbo Etc All Within 5 Minute Walk.
Property Type:
Freehold
Freehold Type:
Att/Row/Twnhouse
Home Style:
2-Storey
Approx. Age:
6-15
Total Approx Floor Area:
1500-2000
Depth:
128.3 sq. ft.
Frontage:
19.77 sq. ft.
Exposure:
South
Bedrooms:
3
Bathrooms:
4.0
Water supply:
Municipal
Kitchens:
1
Rooms:
6
Rooms Below Grade:
1
Heating type:
Forced Air
Heating Fuel:
Gas
Basement:
Finished
Fireplace/Stove:
No
Garage:
Attached
Garage Spaces:
1
Parking Spaces:
2
Total Parking Spaces:
3
Driveway:
Private
Family Room:
Y
Taxes:
$3,973 / 2021
Assessment:
$- / -
Floor
Type
Size
Other
Main
Kitchen
11'5" × 8'
Stainless Steel Appl, Breakfast Bar, Ceramic Backsplash
Main
Dining
13'3" × 9'10½"
Hardwood Floor, Crown Moulding
Main
Family
15'9" × 10'10"
Hardwood Floor, Crown Moulding
2nd
Master
13'9¾" × 13'6"
Hardwood Floor, 4 Pc Ensuite, W/I Closet
2nd
2nd Br
13' × 9'
Hardwood Floor, O/Looks Frontyard
2nd
3rd Br
14'7" × 9'5¾"
Hardwood Floor, O/Looks Frontyard
Floor
Ensuite
Pieces
Other
2nd
-
4
Main
-
2
2nd
-
4
Bsmt
-
3
Schomberg
S/S Appliances: Samsung Fridge, Lg Gas Stove, Microwave Range Hood. Existing Dishwasher, Washer And Dryer. Electric Light Fixtures, Window Coverings, Garden Shed. Exclude Chest Freezer In Garage.
Garden Shed
Brick
None
None
Utilities Cable:
Yes
Utilities Gas:
Yes
Utilities Hydro:
Yes
Special Designation:
Unknown
Sewer:
Sewers
Air Conditioning:
Central Air
Seller Property Info Statement:
No
Laundry Level:
Upper
Date Listed:
Apr 06, 2021
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Listed by CENTURY 21 ATRIA REALTY INC., BROKERAGE
Data was last updated January 28, 2023 at 11:55 PM (UTC)
DEAN GIBBONS
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