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226 Verdun Highway, Oshawa
The hazards of speculating in a risky actual property market got here again to chew one other investor this week when an Oshawa bungalow positioned southeast of downtown bought for a $300,000 loss, simply two-and-a-half years after it was bought.
The three-bedroom/two tub house on Verdun Highway was initially purchased December 20, 2021 for $830,000 – $230,000 over asking in what was an excellent over-heated market because the trade (and all the things else) got here out of lockdown.
The house was put again available on the market lower than a yr later and at last bought Monday for $529,000 – a 36 per cent loss.
The sale was the most recent in a protracted checklist of houses bought within the interval following the onset of the pandemic (when low-cost lending charges drove up demand out there) that bought for main monetary losses this yr. Outstanding amongst these monetary hits was a house in Oshawa’s Eastdale neighbourhood that bought just lately for an unbelievable $800,000 loss.
The four-plus-two bed room, six-bathroom house was bought within the spring of 2022 for $2.55 million and was put again available on the market in April for $1.78 million.
The house bought for $1.75 million.
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