Democracy Gone Astray

Democracy, being a human construct, needs to be thought of as directionality rather than an object. As such, to understand it requires not so much a description of existing structures and/or other related phenomena but a declaration of intentionality.
This blog aims at creating labeled lists of published infringements of such intentionality, of points in time where democracy strays from its intended directionality. In addition to outright infringements, this blog also collects important contemporary information and/or discussions that impact our socio-political landscape.

All the posts here were published in the electronic media – main-stream as well as fringe, and maintain links to the original texts.

[NOTE: Due to changes I haven't caught on time in the blogging software, all of the 'Original Article' links were nullified between September 11, 2012 and December 11, 2012. My apologies.]

Tuesday, March 12, 2013

Junction Triangle fixer-upper attracts 40 offers and sells for almost $200,000 over asking

A house in the Junction Triangle area in need of an “extreme renovation” has sold for almost $200,000 over asking price thanks to a frenzy of activity that saw 40 people register bids on the home.

Seven potential buyers pulled out at the last minute Monday night as the listing agent prepared to deliver each bid to the home’s owners for review — some with deposit cheques of $100,000. The house sold for $601,500.

“I just kept thinking, ‘I hope nobody breaks into my car,’” joked listing agent Ashley McInnis, recovering from a frantic week that saw more than 350 potential buyers tour the home and countless others call to inquire about the detached home in the up-and-coming area close to transit and the downtown.

It had been listed for $419,900 at the owners’ insistence, considerably under market value, because they were concerned it needed so much work it would turn off most buyers.

Instead, the 2,600-square-foot house, which has been operating as two crammed apartments for years, created a frenzy among buyers who are finding there is very little decent on the market right now under $800,000.

“People were doing anything they could to make their offers more palatable to the seller. Money talks. This would have been a case where it would be hard to make an offer conditional on a home inspection.”

Agents were showing up with blank offers for the house, sight unseen, right until the 3 p.m. deadline for offers Monday.

“This many offers tells me that buyers are out there, that consumer confidence in the housing market has returned,” says McInnis. “They are at the start line and just waiting for the gun to go off, but there is no product out there.”

Original Article
Source: thestar.com
Author:  Susan Pigg

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