CIR Realty
1703 31 St. SW., Calgary
Asking price: $869,900 (July, 2024)
Previous asking prices: $899,900 (Early June, 2024); $885,000 (Late June, 2024)
Selling price: $845,000 (August, 2024)
Previous selling prices: $692,000 (June, 2021); $130,000 (November, 1996); $76,500 (November, 1986)
Taxes: $4,728 (2023)
Property days on market: 65
Listing and buyer’s agent: Kamil Lalji, CIR Realty
The action
The eat-in kitchen was recently updated.CIR Realty
Agent Kamil Lalji was optimistic house hunters would appreciate the turnkey condition of this 73-year-old bungalow on a 50- by 120-foot lot near Shanganappi Point Golf Course, but knew some buyers would be turned off by the disruption from townhouses under construction nearby.
“We’re trying to get someone who will relocate to an older bungalow that’s been renovated, and see the longer-term upside of its land value,” said Mr. Lalji.
“Many people felt they don’t necessarily want to be next to a townhouse complex.”
To jog buyer interest, the asking price of $899,900 was dropped by roughly $15,000 in June and again in July. In August, an offer finally arrived demanding a further $24,900 reduction in the price with a proviso that the buyers sell their own house beforehand. The seller accepted.
“We dropped the price consistently but in smaller increments rather than giving up huge price drops because there is often someone willing to make a purchase in the margins,” Mr. Lalji said.
“Usually, you don’t accept a ‘sale of buyer’s home’ condition because you’re hitching your ride to someone else’s pony,” Mr. Lalji said. “But what they were holding onto was likely to sell quickly.”
What they got
Previous owners of the home had replaced the front steps, refinished the hardwood floors and added an electric fireplace in the living room.CIR Realty
Over the years, previous owners of this three-bedroom bungalow had replaced the front steps, refinished the hardwood floors, and added an electric fireplace in the living room. As well, all three bathrooms and the eat-in kitchen had been updated.
Downstairs, the recreation area was revamped with a wood-burning stove and new carpeting was laid in two guest rooms.
Outside, there is a stone patio, mature trees and a double garage.
The agent’s take
The house has three bedrooms and is located near Shanganappi Point Golf Course.CIR Realty
“It’s a quiet street, under a 10-minute walk to two different train stations,” said Mr. Lalji.
“At the southern end of the block, where this property sits, they’re redeveloping all along 17th Avenue and adding mixed-use developments, so that’s adding a lot of value to the area.”