A two bedroom unit in Hanmer St, Williamstown went to auction 31st July 2010. The agent selling the home was Compton and Green Real Estate- Williamstown. Advertised price range was quoted between $390K-$420K.
The unit passed in at $460K.
Not sure I can really comprehend why. Especially seeing that the bidding on the unit went well over the quoted range. Is $40K over the top end quoted not enough? Perhaps the vendors should have quoted a higher range.
Saturday, July 31, 2010
Saturday, June 19, 2010
Agents Still Not Sure what To Quote
Here is a small list of houses that went to auction this weekend (19 June 2010). I have included details of advertised price and then the actual price the home sold for.
Electra St Williamstown
Advertised by Compton and Green, Williamstown for $650,000- $700,000. Sold at auction for $820,000
Verdon st, Williamstown
Advertised by Sweeny, Williamstown for $980,000- $1,050,000. Sold at auction for $1,205,000
Maugie St, Abbotsford
Advertised by BigginScott, Richmond for $600,000-$660,000. Sold $761,000
55 Merton Street, Albert Park
Advertised by Bennison Mackinnon, ALbert Park for $1,400,000-$1,500,000. Sold at auction for $1,710,000
Terry St, Balwyn
Advertised by Noel Jones, Balwyn for $1,200,000 - $1,300,000. Sold at auction for $1,605,000
Richardson St, Carlton North
Advertised by Chambers, Fitzroy North, in excess of $820,000. Sold at auction for $1,025,000
Electra St Williamstown
Advertised by Compton and Green, Williamstown for $650,000- $700,000. Sold at auction for $820,000
Verdon st, Williamstown
Advertised by Sweeny, Williamstown for $980,000- $1,050,000. Sold at auction for $1,205,000
Maugie St, Abbotsford
Advertised by BigginScott, Richmond for $600,000-$660,000. Sold $761,000
55 Merton Street, Albert Park
Advertised by Bennison Mackinnon, ALbert Park for $1,400,000-$1,500,000. Sold at auction for $1,710,000
Terry St, Balwyn
Advertised by Noel Jones, Balwyn for $1,200,000 - $1,300,000. Sold at auction for $1,605,000
Richardson St, Carlton North
Advertised by Chambers, Fitzroy North, in excess of $820,000. Sold at auction for $1,025,000
Monday, June 14, 2010
Sold $237,500 Over The Quoted Range
A terrace home in Budd St, Collingwood was scheduled for auction on the 12th June, 2010.
The home had been beautifully renovated. It had three large bedrooms all with built in robes, generous living space, 2 bathrooms plus powder room, large kitchen, court yard garden plus a study area.
Advertised price range by real estate agent BigginScott , Richmond was as follows:
Details: $650,000 - $700,000
I could not believe my eyes when I saw this range and thought this is too good to be true.
Anyway the house sold for the following $937,500. Another "great" result for the owners, not so great for the poor house hunter that thought they were in with a chance.
The home had been beautifully renovated. It had three large bedrooms all with built in robes, generous living space, 2 bathrooms plus powder room, large kitchen, court yard garden plus a study area.
Advertised price range by real estate agent BigginScott , Richmond was as follows:
Details: $650,000 - $700,000
I could not believe my eyes when I saw this range and thought this is too good to be true.
Anyway the house sold for the following $937,500. Another "great" result for the owners, not so great for the poor house hunter that thought they were in with a chance.
Sunday, June 6, 2010
$900,000-$990,000
Overtime, I have noticed a trend where a particular Real Estate Agent in Williamstown prices a vast majority of its homes for sale at the $900,00 to $990,000 mark.
I will add to my list as time goes by
Examples so far:
Cecil St, Williamstown: Quoted at $900,000- $990,000 but passed in at $1,040,000
Crofton Dr, Williamstown: Quoted at $900,000- $990,000 but sold at $1,120,000
I will add to my list as time goes by
Examples so far:
Cecil St, Williamstown: Quoted at $900,000- $990,000 but passed in at $1,040,000
Crofton Dr, Williamstown: Quoted at $900,000- $990,000 but sold at $1,120,000
Saturday, June 5, 2010
Passed In
A house in Cecil St, Williamstown went to auction this weekend (5th June 2010). Quoted price range by Hocking Start, Williamstown was $900,000-$990,000. The Cecil St, property passed in at $1,040,000.
Not sure I can understand why, especially seeing that offers went over the quoted range. Perhaps the quoted range should have been $1,020,000- $1,100,000. That way, all those that attended the auction believing that the property would be sold between $900,000 and $990,000 would not be mislead.
Seeing that there is a proposed development application, between Nelson Place, Ann St, Aitkin St, Cecil St, Kanowna St in Williamstown, I personally wouldn't be bidding down this end of town until I was certain what was going to be built in the area. This development site, includes 412 dwellings, comprising 328 flats and 84 townhouses up to 13 storeys.
www.savewilliamstown.net explains all there is to know about the proposed development.
Not sure I can understand why, especially seeing that offers went over the quoted range. Perhaps the quoted range should have been $1,020,000- $1,100,000. That way, all those that attended the auction believing that the property would be sold between $900,000 and $990,000 would not be mislead.
Seeing that there is a proposed development application, between Nelson Place, Ann St, Aitkin St, Cecil St, Kanowna St in Williamstown, I personally wouldn't be bidding down this end of town until I was certain what was going to be built in the area. This development site, includes 412 dwellings, comprising 328 flats and 84 townhouses up to 13 storeys.
www.savewilliamstown.net explains all there is to know about the proposed development.
Tuesday, May 18, 2010
Developers Pitch
Why is that we in Melbourne are so intent on destroying nice family homes. Whilst looking for a family home in Bulleen. We came across an auction in Cuthbert St. The agent selling the home was Philip Webb-Doncaster. When approaching the house I asked what range the agents expected the home to sell for. The agent replied by saying that the vendors hoped that the property would attract the developers because it was on a "large corner block" and the 989sqm block had potential for 4 units. The agents also indicated that the property would fetch a high price due to developer interest.
These comments spooked me off immediately and therefore I didn't even bother inspecting the property. It is one thing to be competing at an auction against another family but to be bidding against a developer is useless.
I did not stay for the auction.
The property did not sell on auction date, which was about 2-3 weeks ago now. The property remains on the market for $920,000. Had the campaign not been directed at developers, ordinary folk may have been in with a chance and not been scared off even before the auction started.
There are lots of other properties advertised this way. Some examples being Newman St, Northcote, Darebin Rd, Thornbury, Osborne St, Williamstown, Park Ave, Sandringhams, just to name a few.
Melbourne is becoming the city of townhouses and apartments. Family homes are being destroyed to make way for square, brick homes. Homes that have no appeal. Homes that have no backyards and no style. The street which I currently am residing is a perfect example of this. What was once a family home dominated street, is fast becoming a townhouses dominated street. Just three doors up there is an application for 4 townhouses on the one block.
These comments spooked me off immediately and therefore I didn't even bother inspecting the property. It is one thing to be competing at an auction against another family but to be bidding against a developer is useless.
I did not stay for the auction.
The property did not sell on auction date, which was about 2-3 weeks ago now. The property remains on the market for $920,000. Had the campaign not been directed at developers, ordinary folk may have been in with a chance and not been scared off even before the auction started.
There are lots of other properties advertised this way. Some examples being Newman St, Northcote, Darebin Rd, Thornbury, Osborne St, Williamstown, Park Ave, Sandringhams, just to name a few.
Melbourne is becoming the city of townhouses and apartments. Family homes are being destroyed to make way for square, brick homes. Homes that have no appeal. Homes that have no backyards and no style. The street which I currently am residing is a perfect example of this. What was once a family home dominated street, is fast becoming a townhouses dominated street. Just three doors up there is an application for 4 townhouses on the one block.
Saturday, May 15, 2010
For Sale by Tender Continued
As mentioned on May 5,2010 under Tender Please, Fletchers Real Estate Balwyn North were selling Vera St, Bulleen by tender. Auction date was scheduled for May 15, 2010. When speaking to the agent regarding this property, she said that the vendors were not quoting and wanted to sell the property by tender. As a buyer, I found this very strange. The property was not a commercial property and was not a property of high distinction. It was an ordinary, three bedroom suburban home.
I did not want to put myself in a position where I would be offering too much for a house that was not worth it. The property ended up going to auction and was not sold prior. It was advertised as POA (Price on Application).
Property sold at auction for $746,000. A little disapointing considering other properties in the area such as Sandra St, Bulleen sold for $825,000, Pinnacle Crescent, Bulleen sold for $915,000 and Barak St Bulleen sold for $945,000.
Perhaps if the selling price had been more transparent, interest in the property would have been greater. As for me, due to the vendors initial choice of sale (i.e Sale by Tender and I' not sure if this changed along the way) I ruled this property out long before it even made my short list.
I did not want to put myself in a position where I would be offering too much for a house that was not worth it. The property ended up going to auction and was not sold prior. It was advertised as POA (Price on Application).
Property sold at auction for $746,000. A little disapointing considering other properties in the area such as Sandra St, Bulleen sold for $825,000, Pinnacle Crescent, Bulleen sold for $915,000 and Barak St Bulleen sold for $945,000.
Perhaps if the selling price had been more transparent, interest in the property would have been greater. As for me, due to the vendors initial choice of sale (i.e Sale by Tender and I' not sure if this changed along the way) I ruled this property out long before it even made my short list.
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