DONE DEAL - As Seen in The Globe & Mail - Quality of bids dwindles for Calgary home over two months

Dated: August 26 2022

Views: 22

115 Saratoga Place NE., Calgary

Asking price: $529,900 (June, 2022)

Previous asking prices: $554,900 (May, 2022); $574,900 (April, 2022)

Selling price: $526,900 (June, 2022)

Taxes: $3,021 (2021)

Days on the market: 11

Listing agent: Bryon Howard, eXp Realty

The action

Owners of this three-bedroom house were excited by the brisk sale of properties across Calgary this spring, leading them to believe theirs could trade for $574,900. Offers for far less were disappointing and quickly dismissed. To reignite buyer interest, the price was dropped in May by $20,000; a proposal was accepted, but sank due to financing. In June, they changed the price again to $529,900, which was followed by a solid bid of $526,900.

“With the increasing interest rates and the spring market ending in Calgary – and much of Canada, really – it’s very typical,” said agent Bryon Howard. “Bottom line is we started too high, and we missed some of the market.”

In hindsight, the setting around the 19- by 108-foot lot also wasn’t favourable. “Behind it, it looked like there was a park or green space for years, but during the course of the listing, a house started to be built,” Mr. Howard said. “[Plus], there are no great amenities to walk to nearby.”

What they got

The house has an eat-in kitchen with newer stainless steel appliances and access to a deck.

In a 28-year-old subdivision east of the airport, this two-storey house provides 1,678 square feet of living space and an attached double garage.

The foyer opens into a living room with double-height ceilings and an adjacent dining area. Across the rear is a family room with a gas fireplace and an eat-in kitchen with newer stainless steel appliances and access to a deck.

Downstairs, there are extra recreational areas and one of four bathrooms.

The family room has a gas fireplace.

“It’s quite nice for the area with a nice, finished basement and floor plan, and the kitchen was updated,” Mr. Howard said. “It’s on a nice cul-de-sac … and this has a driveway with four parking spots.”

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Bryon Howard

From a very young age, I had determined that I wanted to be in the eco-tourism / adventure business. I would take small groups of people into communities in interesting parts of the world. I would ass....

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