Real Estate

Identical condos (unit 910, 1010) with and without parking but same price?

  • Last Updated:
  • Jul 17th, 2019 8:11 pm
[OP]
Member
Jul 4, 2019
207 posts
141 upvotes

Identical condos (unit 910, 1010) with and without parking but same price?

These listings doesn't make much sense, condos in this area are expensive and parking alone can go for $60 to $80k
so why are these identical condos on top of each other going for the same price when unit 1010 has parking and unit 910 doesn't have one.

https://www.bungol.ca/listing/43-eglint ... 7-3878458/
https://www.bungol.ca/listing/43-eglint ... 4-3863957/
22 replies
Deal Guru
Feb 29, 2008
11011 posts
6185 upvotes
OP watch out, you will get a whole bunch of angry agents in here and people asking you “why do you care?”
Member
Oct 26, 2007
265 posts
152 upvotes
Unit 910 has "Parking Available For Extra" ... to really compare you need to find out how much extra.
Deal Addict
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Jan 2, 2012
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Toronto
Deal46ix wrote: These listings doesn't make much sense, condos in this area are expensive and parking alone can go for $60 to $80k
so why are these identical condos on top of each other going for the same price when unit 1010 has parking and unit 910 doesn't have one.

https://www.bungol.ca/listing/43-eglint ... 7-3878458/
https://www.bungol.ca/listing/43-eglint ... 4-3863957/
Sellers/Agents employ various strategies to get best price for a sale.
Some price it right at market value and what they actually want for it
Some will price it low to attract more viewings and get a bidding war.
Some may price it low because they need a quick sale
Some will price it high to see if anyone is willing to pay. and aren't in a hurry to sell
Or price it high expecting someone to bid lower and think they're getting a deal, but really is at the sellers target price.
And some sellers/agents are not that bright and simply don't know what they're doing

Both these units are employing some kind of strategy to sell. Just coincidence they are on sale at the same time. The 1010 unit looks like the better "deal" but a smart buying agent will know to bid based on actual market price and not just what seller is asking for.
Last edited by rob444 on Jul 11th, 2019 9:32 am, edited 1 time in total.
Member
Oct 21, 2013
215 posts
80 upvotes
waterloo, on
Clearly, atleast one of them is priced incorrectly.
Royal LePage Realtor
Serving Kitchener/Waterloo/Cambridge/Elmira/Guelph and surrounding cities
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JayLove06 wrote: OP watch out, you will get a whole bunch of angry agents in here and people asking you “why do you care?”
Not likely, unlike you OP is not accusing anyone of anything.
Deal Fanatic
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Feb 2, 2014
7810 posts
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Toronto
Deal46ix wrote: These listings doesn't make much sense, condos in this area are expensive and parking alone can go for $60 to $80k
so why are these identical condos on top of each other going for the same price when unit 1010 has parking and unit 910 doesn't have one.

https://www.bungol.ca/listing/43-eglint ... 7-3878458/
https://www.bungol.ca/listing/43-eglint ... 4-3863957/
They aren't "going for the same price", they are asking the same price...big difference.

People can ask what they want, doesn't mean it will sell for that price. You can go on Kijiji and say the same thing about cell phones.
Kevin Somnauth, CFA
Principal Broker - First Toronto Mortgage - MA (Ontario #13176, BC #X301007)
Real Estate Salesperson - Century 21 Innovative
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Mar 3, 2011
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910 is going for about $5,100 less than 1010 and has been on the market many times and listed at different prices.

$649,000 - 8mo ago - suspended
$589,999 - 6mo ago - suspended
$594,900 - 24 days ago - current
Member
Aug 20, 2015
487 posts
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Toronto
Sellers can list at whatever they want. It's up to buyers to educate themselves on the value of a parking spot.

Also depending on the building parking spots may not even be worth as high as $35-40k downtown. It varies building to building. Some buildings have lots that are half full with 6 or 7 for rent listings in the mail room.
Deal Addict
Mar 27, 2004
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Not this again..
Full-time Realtor
Deal Guru
Feb 29, 2008
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Homerhomer wrote: Not likely, unlike you OP is not accusing anyone of anything.
“Why do you care?” Find intelligent reasoning for such an asinine post. I’ll wait. I was STILL right when I said Price was way too high.
Newbie
Jan 30, 2019
96 posts
54 upvotes
I'd be surprised if any of the 2 sold soon (though I may have to eat my words). This building is right next door to MAJOR construction going on for the Eglinton LRT. It looks like both units haven't been updated in a while. It's absurd for the 1010 to ask for 600 when 910 sat there for ages.

As for the "why do you care" part, maybe the OP is like me....I like to check out condo prices in my area because real estate is a hobby of mine (I am not an agent and not in the business). If OP has other reasons....who knows?
Deal Guru
Feb 29, 2008
11011 posts
6185 upvotes
CondoChic wrote:

As for the "why do you care" part, maybe the OP is like me....I like to check out condo prices in my area because real estate is a hobby of mine (I am not an agent and not in the business). If OP has other reasons....who knows?
It’s just that simple.

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