Why is Russell Peters’ home on the market for 50 days?

russelIn the age of bidding wars for homes in the GTA, you are more likely to see Sold signs than For Sale signs but the For Sale sign in front of South Asian stand-up comedian’s Lorne Park home has been up for the past 50 days leaving some to wonder why.

The asking price of the gated home, nestling in a canopy of lush green trees, at 800 Caldwell Ave. (near Hurontario Street and QEW) in Mississauga is $3,749,000.

The 7,500-square foot home features six bedrooms and six bathrooms, a family-room/kitchen area, as well as formal dining and living room.

What’s more, the house also boasts of a heated driveway and floors, a five-car garage, a sauna and is fully automated.

Built in 2008, the house also has a lower level recreation room, bar, laundry and a sauna. The main floor office has been converted into a DJ room.

Jamie Stephens, the realtor with Re/Max Realty Specialists Inc., Brokerage, is unconcerned and says,

“Homes that are typically $800,000 and $1 million sell everyday, but once you get up to certain price point the buyer pool is not as deep, so it takes longer, but we think it should sell pretty quickly.”

The crowning glory of the Lorne Park home is its massive saltwater pool in the backyard, which includes a spacious lounge area and fire pit, said Stephens, adding the home is tucked away from the main road, making it a truly private abode.

Can-India put the question about what’s taking it so long to sell to realtor Sam McDadi who knows a thing or two about luxury homes. “For the price range, it often takes time to find the right buyer,” he said. -CINEWS

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