Wednesday, April 8, 2020

GRAND DREAMS DURING UNCERTAIN TIMES


50 Markland St, Hamilton, ON c.1875

Photos by Vogel Creative, www.vogelcreative.com

This home is on my short list of #HamOnt jaw-droppers. I am a sucker for red brick, nineteenth century classical architecture. Amplify that to the next level with a centre hall plan and intact, original black shutters.




Just imagine how many hands have turned the handle to this home in her 145 year history. Incredible to think! Take a walk back in time and view 50 Markland's 360-tour HERE.



I am sure many share my envy. The Durand-Markland Heritage Conservation District, with its curation of stunning nineteenth and early twentieth century of homes, is a coveted neighbourhood and properties listed here typically do not last long! That said, we are in the face of an unprecedented global health crisis and the real estate game has done a complete one-eighty. As such, my prediction is 50 Markland will not get the attention it deserves, nor that it would command, if it were different times.



From what I have observed, luxury homes are being hit the hardest. The overall market has slowed, but homes in the under $800,000 sweet spot have a much better chance in today’s high anxiety, low consumer confidence, market.

People are not making big moves unless they have to. Heck, they barely go to the store to buy essential supplies unless they need to.

Interest rates may be low, but so is job security. Not to mention, there are extra barriers in place when it comes to viewing and buying a home versus the ‘good old days’. Welcome to new realities like virtual/healthy home tours, the death of the open house, waivers, and release forms.

Some might argue that it weeds out the spectators from the legitimate buyers. Essentially, if you get interest, then you know it is serious. Even so, legitimate, qualified buyers are sitting on the edge of their seats, reluctant to get up.  Factors to purchase extend far beyond job security and income. Potential buyers are asking their selves if they buy a home with plans to renovate, will they be able to? If not, how long will they need to wait? The entire home-buying process just got a whole lot more complicated. Which is a shame because homes like 50 Markland would undoubtedly be snatched up in a hot minute otherwise.






FRESH FEATURES
  • 5 beds + 3.5 baths and over 3,600 square feet of living space (+PLUS unfinished basement and attic)

  • Deep driveway with parking for 4 cars, plus a detached double car garage
  • Large 60x128 foot double width lot
  • Original hardwood and layout throughout
  • Vestibule entry and gorgeous original staircase


  • More to love...







Listing with Zena Dalton of Judy Marsales Real Estate Ltd
Offered at $1,299,000

View full listing details HERE. 



TWINNING FIREPLACE SURROUNDS!


50 Markland Street (Left) and 21 Chilton Place (Right).

Fresh Fact: Both properties are only a few houses apart in the Durand-Markland Heritage Conservation District. As a result, it is very likely the two fireplace surrounds share the same blacksmith (although 21 Chilton’s Mantel takes the cake!). Chronology aligns given 21 Chilton was built 1844 and rebuilt in the 1870s, and Markland was built in 1875.

Related: View my post for 21 Chilton, previously sold, HERE. 


RECENT AREA SOLDS


58 Markland Street

4 Turner Ave – This grand Durand estate sold exclusively (in days) not so long ago (just before the height of COVID) and was listed for $1,399,900. Sold details not available until close.

293 Park St S – Has been on the market a few times in the last 5 years. Recently sold for just under its $1,199,900 asking price. View my post HERE. 

58 Markland St – Sold a few months back. Was originally listed at $1,449,000 but dropped its price to $1,399,000 and I believe ended up selling in the low to mid $1.3s. View my post HERE. 

79 Markland St – Once asking close to $1.5 million, I believe sold for $1,050,000. View former listing video HERE. Photos HERE.  


IN THE AREA, STILL FOR SALE




21 Markland St – $1,499,000. Recently reduced from $1,599,000. View listing HERE.