63 Pavlova Cres, Oak Ridges

Please see the Virtual Tour of this home!

 

MLS: N5159328

List Price: $999.999

Sold Price: $1,175,000

Welcome to 63 Pavlova Crescent in Oak Ridges. Executive 3 bedroom Residence encompasses what all discerning buyers desire. Nestled in desirable Kingshill and situated close to breathtaking conservation and a picturesque pond. Spacious and glamorous design with a brick and stone front elevation, interlock stone at stair landing, and beautiful stone flower beds.

The covered front porch leads to an upgraded front door entrance that welcomes you to a bright foyer. Striking rich dark hardwood flooring and 9 ft. ceilings are featured on the main level. This sun-filled home offers an abundance of large windows that are energizing and adds a sense of warmth and comfort.

The Dining room is the epitome of elegance and opens to a gorgeous gourmet Kitchen that showcases rich dark chocolate cabinets, stainless steel appliances, granite countertops, large center island with a breakfast bar counter. It offers a direct walkout to the fully fenced backyard with a stunning interlock stone patio and a beautiful garden. The entertaining-sized Family room with its cozy gas fireplace will be the room your family will love and adore. It presents a remarkable space that dramatizes versatile interiors.

The brilliant floor plan was designed with convenience in mind. The entrance to the King-sized Master Bedroom uncovers an exquisite and heavenly retreat. A spacious walk-in closet offers closet organizers which will keep you well organized. Relax, luxuriate and pamper yourself in the spa-like ensuite featuring a separate shower. The moment you slide into the blissfully serene soaker tub, the crush and confusion of the day’s routine melt away.

The professionally finished basement features a 3pc bathroom, large laundry room, lots of storage space, and a cozy nanny room which can also be a playroom for the kids. You can relax or enjoy spending time with kids’ friends and family.

 

Conveniently located in walking distance to Kettle Lakes Elementary Public School, Father Frederick McGinn Elementary Catholic School and close to French Immersion, Secondary Public and Catholic Schools, walking trails, community center, medical center, amenities, shopping, Hwy 400, 404, GO station, YRT, Viva, Public Transit-22, and Grovewood Park offering many exciting amenities for residents to enjoy including a water play area, junior and senior playgrounds, a gazebo, a small amphitheatre, a senior lit soccer field, tennis courts, one full and one practice-sized basketball court, a circular pedestrian trail that wraps around the park as well as plenty of parking.

A home for your family in an established community where every season is beautiful!

 
 
 

NEIGHBOURHOOD:

NEIGHBOURHOOD:

Oak Ridges

While Oak Ridges has never been an officially incorporated town, Oak Ridges prides itself on its heritage and a strong sense of community.

Oak Ridges is perfect for those that love the outdoors. As a community that was developed around the scenic and lively Lake Wilcox, nature has always been at the forefront of the community. With a high density of parks, walking trails, nature reserves, Oak Ridges can maintain a country feel in the city. With easy access to Yonge street, highways 400 and 404, Oak Ridges is a commuter’s dream.

 

Grovewood Park

Grovewood park is a comprehensive community park in Oak ridges with amazing features for residents to

enjoy!

Spend the whole day on over four hectares of parkland with the whole family. In the summer, bring the kids and enjoy the water play area, junior and senior playground, gazebo and amphitheatre. Athletic facilities include a senior, fully lit soccer field, three tennis courts, practice-sized basketball court and plenty of parking for easy accessibility. This park is themed to appreciate music, art, drama and dance. Come see performances at the theatre shell and amphitheatre, explore your inner artist with colourful art easels, discover play panels throughout the playground areas that showcase drama, music and art.

Grovewood park is located at Grovewood Street and Dairy Avenue, just south of King Road. Lake Wilcox

The community of Oak Ridges was formed with Lake Wilcox at its core. The lake is at the headwaters of the East Humber River and is the largest kettle lake on the Oak Ridges Moraine.

 

There are three community-maintained recreational parks along the shores of Wilcox Lake. Jesse Venek Park, Sunset Beach Park, and North Shore Parkette, fabulous locations to host a family picnic, or enjoy the view.

Residents enjoy fishing, boating, kayaking, windsurfing, water sports and even skating on Lake Wilcox, providing recreation for everyone to enjoy.

There are strong community groups like Oak Ridges Friends of the Environment and the Lake Wilcox Aquatic Habitat Enhancement Project that strive to maintain Lake Wilcox and ensure that it will be enjoyed for generations to come.

 

HISTORY of Oak Ridges:

Oak Ridges was established in 1799 by Joseph Geneviève and a group of French who were granted land by the British. Oak Ridges was initially named Windham after the current Secretary of War for Britain, who happened to be a friend of Geneviève. In 1840, this settlement area from the King-Vaughan town line to the 15th sideroad became known as Oak Ridges. The western half of Oak Ridges was in King, with the eastern half in the township of Whitchurch.

Oak Ridges was annexed into Richmond Hill in 1971 following a difficult period for the community in the 1960s which saw high unemployment, and a lack of interest from commercial developers. In the last decade, Oak Ridges has been the source of rapid growth in business, particularly along the Yonge Street corridor. This has come in the wake of the advanced efforts of Richmond Hill to stimulate development in the community, which has transformed Oak Ridges into one of the premier communities in Ontario. The photographs are of the well-known Bond Lake Hotel and stables (picture) and Drynoch, the home of Captain Martin Macleod. Bond Lake Hotel was built in 1834 featured twenty overnight rooms, as well as a grand ballroom, and provided the setting for local dances and sleigh-ride parties. Drynoch was built by Macleod in 1846 and was the headquarters of his vast 600-acre farming operation. SCHOOLS: SCHOOLS: Father Frederick McGinn CES (1min drive, 8 min walk) Junior Kindergarten – 8 Catholic, Kindergarten, Elementary School 61 BROCKDALE ST, Richmond Hill, ON Kettle Lakes P.S. (2 min drive, 11 min walk) Junior Kindergarten – 8 Daycare, Kindergarten, Elementary School 62 Kingshill Road, Richmond Hill, ON The Country Day School (5 min drive, 39 min walk) Junior Kindergarten – 12 Daycare, Kindergarten, Elementary School, Secondary School 13415 Dufferin Street, King City, ON Beynon Fields P.S. (5 min drive , 35 mon walk) 1 – 8 Elementary School, Immersion – French 258 Selwyn Rd., Richmond Hill, ON Academy for Gifted Children – P.A.C.E (5 min drive, 30 min walk) 1 – 12 Private ,Daycare, Elementary School, Secondary School 12 Bond Crescent, Richmond Hill, ON King City S.S. (5min drive, 37 min walk) 9 – 12 Secondary School 2001 King Rd., King City, ON Oak Ridges P.S.(6 min drive, 34 min walk) Junior Kindergarten – 8 Kindergarten Elementary School 160 Coon’s Rd., Richmond Hill, ON École secondaire catholique Renaissance (6 min drive, 37 min walk) 7 – 12 Catholic Elementary School, Secondary School Language – French 700 Road Bloomington , Aurora, ON Windham Ridge P.S. (7 min drive, 35 min walk) 1 – 8 Elementary School Immersion – French 32 Red Cardinal Trail, Richmond Hill, ON and many more.. Click here to Search Public Schools in the Area Please don’t hesitate to contact me if you have any questions or would like to schedule a viewing. Anastasia Sitenko BuyRealty.ca Real Estate Brokerage (416 906 8726)

How to Win a Bidding War

What exactly is a bidding war and what is the best way to prepare for one?

Imagine walking into an absolutely perfect property for sale. Immaculate finishes, amazing location, spectacular design, all bundled into one perfect listing. Your heart is set, you know that “this is the one”, and you decide to put in an offer. However, you know that with everything being this perfect for you, it will definitely be that perfect for someone else too, and you begin to prepare yourself for an inevitable bidding war.

 

What Exactly is a Bidding War?

Real estate reality television shows have portrayed the dreaded bidding war as a flurry of back and forth phone calls between the selling agent and all of the buying agents. Heated discussions about the price to beat and agreement conditions to waive hours on end until the one buyer stands victorious overall.

 

Except, in reality, it is actually much tamer. In Ontario, a “bidding war” is actually a more aggressive name for “multiple offers”. When a seller has listed their property and they receive more than 1 offer, they are in a situation where they can make the buyers enter a bidding war.

 

Seller’s Best Scenario

This is the best-case scenario for any seller. More competition means higher demand, which can translate at the end of the day to a greater selling price and/or fewer conditions. This is because the buyers realize that not only do they have to satisfy the seller, they have to appear better than every other buyer. Sometimes, there may only be 1. Other times, there may be more than 100.

 

Offer Review Date

A common strategy when the seller and their agent can predict that a bidding war will occur for their property will be to withhold reviewing any offers until a specific time and date. This will most likely cause buyers to put their best offer forward from the get-go, unknowing what everyone else has offered.

 

Contrary to popular belief, this will not always cause the buyer with the deepest pockets to win. Sometimes, buyers will only offer what they think the property is worth. Other times, buyers will offer less with more favourable terms for the seller. Due to the nature of bidding wars, there is a delicate line between winning the bid and exceeding the budget.

 

Ways to Win

Going back to that perfect property, take a moment and remember that this process is essentially a blind auction. You write down your bid on a piece of paper, submit it, and hope for the best. The seller’s agent can not disclose the highest offer, only how many people are also in the running. So here are some ways on how to gain an edge over the competition.

 

Strike While the Iron is Hot

A “bully offer” would be the real estate equivalent of buying a painting from an auction catalogue prior to the actual auction. In times where a seller is withholding their offers until a specific time and date, they may be willing to entertain any pre-emptive aka, “bully” offers.

If a buyer puts in a bully offer, they are typically offering more than what the seller was asking for, however, less than what a bidding war could potentially raise the price up to. The buyer also gives the seller a minimal amount of time to respond to the offer, hoping that the seller is enticed by the favourable terms and is pressured into accepting the offer.

 

This does not always mean that this is the best way to approach a bidding war. While the buyer does create a situation where they push out the competition, there may not have been any other interested parties, to begin with. The buyer could easily overpay for an unappealing property. On the other hand, the seller, in accepting a bully offer, potentially loses out on even more profit from the upcoming bidding war.

 

Keep in mind, however, that this move has been viewed as so unethical to the point that in 2019, the Ontario Real Estate Association (OREA) president stated that “the government should use its current review of the act that governs Realtors in the province to bar the practice”.

 

Climbing out from the Jaws of Defeat

Just because an offer begins near the bottom, does not mean that it is trapped there forever. “Escalation Clauses” are designed to increase an offer price in order to assist in defeating competing offers. When included in an offer, they can increase the offer price by increments automatically using a predetermined set amount when faced with other offers. Buyers can also place a limit of growth to these increments to ensure they do not exceed their budget.

 

This is useful when a buyer and their agent predict that there will be a bidding war, but the final price will not reach their maximum budget. Escalation clauses ensure that a buyer will only be paying a set amount over the second-highest offer. The seller may also benefit as well, as they are receiving slightly more than what was originally on the table.

 

Like with everything, however, there are downfalls. Any offer with an included escalation clause cannot be revoked during the irrevocable period, and if it is accepted, is legal and binding. An offer with an uncapped escalation clause could cause the offer price to soar beyond any reasonable amount. Additionally, an escalation clause with a limit could outright lose to any offer with an initial amount higher than the limit. Sellers must also be cautious, as, in the case of where the buyer cannot afford the escalated amount, the property would need to be remarketed.

 

Although this move also causes complications in many real estate transactions, due to its complexity for all parties involved, when done correctly, it is within the legal and ethical guidelines that real estate agents are bound to. The Real Estate Council of Ontario (RECO) stated in 2017 that “[they do] not endorse the use of escalation clauses”, however, “[have] no authority to prohibit their use.”

 

Best Foot Forward

The most common method for a buyer, when stuck in a bidding war, is to just simply place their best offer in. A straightforward offer is easy to understand by all parties and clearly defines the parameters. Buyers can better estimate the amount of mortgage they would need, as well as any extra closing costs (legal, taxes, etc.). Sellers may also appreciate the fact that the offer is simple and shows a serious interest in the property.

 

However, this also means that the simplicity causes these offers to be defeated easily. Due to the limit of the offer, any competing offer that initially begins at a higher amount has a higher chance of being accepted.

 

Who Can Help Me Through a Bidding War?

The team at BuyRealty.ca has the expertise and experience to handle every kind of real estate transaction. We can ensure that your offer stands out beyond monetary value with the right conditions. Our members have performed thousands of transactions and can help you navigate and remain composed through tough decisions. We also make sure that every transaction is unique and specialized to fit your specific wants and needs. We can protect your best interests while making sure you get the best possible deal.

 

Click here to learn more about BuyRealty.ca and the members that realize their buyers’ potential.

 

Sources

https://www.cbc.ca/news/canada/toronto/orea-urges-ontario-to-end-bully-offers-1.5088577

https://www.reco.on.ca/professionals-news/need-know-using-escalation-clause/