We are in the process of updating our website for 2018 and this blog makes up part of our new updates for the 76 Baseline Road West complex in Berkshire. Many of the condo buildings along Base Line Road West have a history of small ongoing special assessments. This is typical of what sometimes happens with structures from the late 1980’s and the early and mid 1990’s.
Both windows and underground parking garage surfaces can sometimes be an issue however in this case, none of the buildings at #76, #77, #95 and #135 Baseline Road West have underground parking lots. Often times with these buildings elevator work is necessary and general common area improvements. During flat or sideways moving real estate markets these minor ongoing special assessments can often discourage new buyers from finding value with these types of units. Real estate agents too can often times get caught up in a similar mindset as the most recent sales histories can dictate the suggested new asking prices.
Then came the largely unexpected real estate markets of 2017 where the previous selling prices on these two bedroom units of $113,300 in 2016 and $115,400 in 2015 got largely swept under the carpet. In 2017 ten two bedroom units sold in this building with two units selling out for over the $140,000 mark and with an average selling price of $128,200 on these ten sales. These types of selling price increases on older condos buildings similar to this building were quite common all across London in 2017.
by Peter Daoust, Broker Remax Advantage Realty Ltd, Brokerage