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.
Sold For Less Than I Expected
It has been a real mix this weekend with several properties selling between the quoted range or just over.
I wanted to put in an offer for Jenkins St, Northcote prior to auction but the Real Estate Agent said that the vendors wanted to take the property to auction. Auction was scheduled for May 15, 2010.
The three bedroom townhouse on offer was very nice. It had good design features, a manageable rear yard and a garage.
The auctioneer from Nelson Alexander started the auction. After accepting increments of $10,000, the auction stalled at $895,000. Asking price was $770,000-$850,000. The auctioneer went inside to consult the vendor and when he came out he told the crowd the house was on the market. After several calls of him saying $895,000 once, $895,000 twice.... the house finally fell under the hammer for (you guessed it) $895,000. That's $45,000 over the quoted range.
I felt somewhat relieved that the vendor had not accepted offers prior to auction. In the past, I had attended "open house inspections" only to see the house sell prior to auction for well over the quoted range. (Sometimes up to $300,000 over the range). Agents even telling me that I needed to put in a "substantial" sum on top of the asking price in order to secure the property.
Had the vendor at Jenkins St, Northcote taken offers prior to auction, I would have paid at lease $30,000 over the selling price. I have missed out on a few properties this way but as I can see from this example, sometimes it's best to wait for the auction to see what actually transpires on the day.
I must say I was very surprised that Jenkins St, Northcote sold for $895,000. Considering a similar home in Rathmines St, Fairfiled sold on February 27, 2010 for aprrox. $932,000. I thought Jenkins St, Northcote was a much better property. It had a larger laundry, bigger back yard and nicer finishes (especially the floor boards). Rathmines St, Faifield was one of three on the block and also was part of an owners corporation.
I did not bid at auction for Jenkins St, Northcote and that's because I finally secured a lovely property of my own.
I wanted to put in an offer for Jenkins St, Northcote prior to auction but the Real Estate Agent said that the vendors wanted to take the property to auction. Auction was scheduled for May 15, 2010.
The three bedroom townhouse on offer was very nice. It had good design features, a manageable rear yard and a garage.
The auctioneer from Nelson Alexander started the auction. After accepting increments of $10,000, the auction stalled at $895,000. Asking price was $770,000-$850,000. The auctioneer went inside to consult the vendor and when he came out he told the crowd the house was on the market. After several calls of him saying $895,000 once, $895,000 twice.... the house finally fell under the hammer for (you guessed it) $895,000. That's $45,000 over the quoted range.
I felt somewhat relieved that the vendor had not accepted offers prior to auction. In the past, I had attended "open house inspections" only to see the house sell prior to auction for well over the quoted range. (Sometimes up to $300,000 over the range). Agents even telling me that I needed to put in a "substantial" sum on top of the asking price in order to secure the property.
Had the vendor at Jenkins St, Northcote taken offers prior to auction, I would have paid at lease $30,000 over the selling price. I have missed out on a few properties this way but as I can see from this example, sometimes it's best to wait for the auction to see what actually transpires on the day.
I must say I was very surprised that Jenkins St, Northcote sold for $895,000. Considering a similar home in Rathmines St, Fairfiled sold on February 27, 2010 for aprrox. $932,000. I thought Jenkins St, Northcote was a much better property. It had a larger laundry, bigger back yard and nicer finishes (especially the floor boards). Rathmines St, Faifield was one of three on the block and also was part of an owners corporation.
I did not bid at auction for Jenkins St, Northcote and that's because I finally secured a lovely property of my own.
Sunday, May 9, 2010
Home Advertised "For Sale" Sold One Year Ago
I was looking to buy property in Pinnacle Crescent, Bulleen. Real Estate Agent Ray White Mannigham advertised the property as "Climb to the Pinnacle". As I was frustrated and sick of auctions I decided to climb that pinnacle and make inquires regarding the property. The house for sale was advertised for $750,000.
When I spoke to the agent from Ray White Mannigham (Blackburn Rd) regarding this property, she seemed surprised and asked me where I had seen the home. I explained that I had seen it on realestateview. She further went on the say that the home sold one year ago. Then she immediately went into sales mode and from here on it all made sense. It appeared to me that the property for sale was not really for sale and that it was only there in order for the real estate agent to obtain new connections. At this stage I went along with all the questions because I needed to find a house to live in. She took my details, asked me questions and also asked me to come into the office. I explained that I wasn't able to come into the office at that particular time but was interested in property updates.
I have not heard from the agent since. Also as of today May 10th, 2010 the corner property in Pinnacle Crescent remains advertised on realestateview, which leads me to believe that the only reason this property is still on the net is a desperate grab to get sales.
When I spoke to the agent from Ray White Mannigham (Blackburn Rd) regarding this property, she seemed surprised and asked me where I had seen the home. I explained that I had seen it on realestateview. She further went on the say that the home sold one year ago. Then she immediately went into sales mode and from here on it all made sense. It appeared to me that the property for sale was not really for sale and that it was only there in order for the real estate agent to obtain new connections. At this stage I went along with all the questions because I needed to find a house to live in. She took my details, asked me questions and also asked me to come into the office. I explained that I wasn't able to come into the office at that particular time but was interested in property updates.
I have not heard from the agent since. Also as of today May 10th, 2010 the corner property in Pinnacle Crescent remains advertised on realestateview, which leads me to believe that the only reason this property is still on the net is a desperate grab to get sales.
Wednesday, May 5, 2010
Section 32 Not Ready
Not sure what's going on out there in regards to Section 32's. I have emailed several agents requesting Section 32's only to receive no response. Upon further investigation the real estates have either been too busy or indicated that the Section 32's were "not ready yet".
I find this totally unacceptable. Firstly if a client has expressed interest in a property then all clients should be contacted. Receiving no response from an agent, makes the buyer want to go elsewhere. I have had to email certain agents 3 times in order to receive some sort of documentation. Secondly, Section 32's aren't even ready to view.
A house in Lookout Rise, Macleod was due to be auctioned this weekend May 8 2010. I requested documentation from Barry Plant, Rosanna. Upon requests the agency indicated that the property may not make it to auction because all relevant paperwork had not been prepared in time. I fail to comprehend this fact. A campaign usually commences 4 weeks prior to auction. Pamphlets are published, home is advertised on the internet, the paper and local magazines. Why after 4 weeks would the Section 32 not be ready?
The auction in Macleod has now been postponed. I found this out because I looked on the internet and not because I was contacted by the agent as a valued client.
Another house in Raleigh St, Thornbury is due to go to auction May 8. When I asked the receptionist on May 3, 2010 why I hadn't been emailed the the Section 32, she said that certain contracts weren't ready yet. I emailed this agent 2 weeks ago requesting documents. If the documents weren't ready yet why didn't the agent at least acknowledge my email? Anyway I received relevant documents that day. The house is being advertised between $750,000-$820,000. Can't wait to see how much it sells for.
Update: The house in Raleigh St, sold between $980-$990K.
I find this totally unacceptable. Firstly if a client has expressed interest in a property then all clients should be contacted. Receiving no response from an agent, makes the buyer want to go elsewhere. I have had to email certain agents 3 times in order to receive some sort of documentation. Secondly, Section 32's aren't even ready to view.
A house in Lookout Rise, Macleod was due to be auctioned this weekend May 8 2010. I requested documentation from Barry Plant, Rosanna. Upon requests the agency indicated that the property may not make it to auction because all relevant paperwork had not been prepared in time. I fail to comprehend this fact. A campaign usually commences 4 weeks prior to auction. Pamphlets are published, home is advertised on the internet, the paper and local magazines. Why after 4 weeks would the Section 32 not be ready?
The auction in Macleod has now been postponed. I found this out because I looked on the internet and not because I was contacted by the agent as a valued client.
Another house in Raleigh St, Thornbury is due to go to auction May 8. When I asked the receptionist on May 3, 2010 why I hadn't been emailed the the Section 32, she said that certain contracts weren't ready yet. I emailed this agent 2 weeks ago requesting documents. If the documents weren't ready yet why didn't the agent at least acknowledge my email? Anyway I received relevant documents that day. The house is being advertised between $750,000-$820,000. Can't wait to see how much it sells for.
Update: The house in Raleigh St, sold between $980-$990K.
Tender Please
To Tender means to bid. It is a formal proposal to buy at a specified price. The only thing is that the price is not revealed by the vendor and the buyer is blindly left to put in his/her highest bid in order to beat his/her competitors.
Fletchers Real Estate Balwyn North are selling Vera St, Bulleen. Price on this home is advertised as "Price on application" but when further price requests were made the agent revealed that the home was being sold by Tender. This chosen procedure automatically ruled out this property for me. As a buyer how would I know where to begin?
Fletchers Real Estate Balwyn North are selling Vera St, Bulleen. Price on this home is advertised as "Price on application" but when further price requests were made the agent revealed that the home was being sold by Tender. This chosen procedure automatically ruled out this property for me. As a buyer how would I know where to begin?
Sunday, May 2, 2010
Have We Made Reserve Yet?
I requested a sale price for Pinnacle Cres, Bulleen. Fletchers Real Estate, Balwyn North's selling range was quoted as Price on Application but upon further request the range was quoted as $700K-$800K. This was discovered upon inspection because the agent had not answered my calls. On the day of sale, another agent indicated a sale price of above $800K.
The old 1970's home had 4 bedrooms, a lounge and rather a larger kitchen. It's laundry hadn't been renovated since it was first built. The garden was advertised as an "oasis garden".
On the day of auction, potential buyers were inspecting the property. The agents welcomed the buyers as they entered the property. The funniest thing happened when the agent introduced herself to one potential buyer. The client said "So your the one that doesn't answer my calls". I knew exactly how he felt.
Auction started slow but soon took off. Before we knew it the bidding had gone over the $800K. The auction stalled when one bidder asked if the home was on the market. The agent responded by saying the crowd was close. The crowd got a little annoyed as the price was heading towards the $850K mark and was still "not on the market". How much did the vendors want for an old 1970's home in Bulleen that was quoted $700,000 to $800,000 during its campaign. The agent replied by saying (whilst still taking bids) that they were consulting the vendor. The agent came out and said that the crowd "was close". The vendors wanted more. A potential buyer placed a bid of $500 but was not accepted at $860K. The bidder was asked to raise his bid by $5,000. This indicated to be that the property hit reserve at $865K, even though the auctioneer came out and said that the property was on the market.Eventually the property sold for $915,000.
If agents/vendor were looking at a reserve of $865K why not quote $800,000- $900,000, instead of saying "we are quoting $700,000- $800,000. I would not have attended this auction had I known.
The old 1970's home had 4 bedrooms, a lounge and rather a larger kitchen. It's laundry hadn't been renovated since it was first built. The garden was advertised as an "oasis garden".
On the day of auction, potential buyers were inspecting the property. The agents welcomed the buyers as they entered the property. The funniest thing happened when the agent introduced herself to one potential buyer. The client said "So your the one that doesn't answer my calls". I knew exactly how he felt.
Auction started slow but soon took off. Before we knew it the bidding had gone over the $800K. The auction stalled when one bidder asked if the home was on the market. The agent responded by saying the crowd was close. The crowd got a little annoyed as the price was heading towards the $850K mark and was still "not on the market". How much did the vendors want for an old 1970's home in Bulleen that was quoted $700,000 to $800,000 during its campaign. The agent replied by saying (whilst still taking bids) that they were consulting the vendor. The agent came out and said that the crowd "was close". The vendors wanted more. A potential buyer placed a bid of $500 but was not accepted at $860K. The bidder was asked to raise his bid by $5,000. This indicated to be that the property hit reserve at $865K, even though the auctioneer came out and said that the property was on the market.Eventually the property sold for $915,000.
If agents/vendor were looking at a reserve of $865K why not quote $800,000- $900,000, instead of saying "we are quoting $700,000- $800,000. I would not have attended this auction had I known.
Friday, April 9, 2010
Price on Application
"Price on Application" when selling a home, is really off putting. When I see this displayed on the internet I think one of two things. The first is that vendors are asking too much for the home and the second is that the agent won't answer my email or phone call. I would have to say that 5 out of 10 enquires of mine go unanswered.
My most recent example would be when I asked Fletchers- North Balwyn for a price on a home for sale recently but received no response. I guess the agent had enough "buyer interest".
I attended the April 10 auction and I must say there were at least 150 people present. About 7 to 10 people fought it out on the day. The auction seemed to drag on forever. I think that was due to the fact that the auctioneer was accepting small bids sometimes going as low as $50- $100.
Asking price for the Somervile Rd, Doncaster home was "price on application". But later enquiries revealed that asking price was 600,000- $660,000. The house was a 3 bedroom brick home with 2 bathrooms and 1 car garage.
I was speaking to a few people in the crowd and they too were saying that the agents/vendors did not quote correctly. Our circle of potential bidders were now having bets on how much over the quoted price the house would sell for. I thought the home would sell for $760,000, another said $720,000, another said $800,000 and lastly someone said $820,000. But we were all wrong.
Everybody agreed on one thing and that was, that they would have appreciated a more accurately priced range. Most were saying that they wouldn't have attended if they knew it would go for $200,000 over the quoted range.
The "Real Estate Guidelines for real estate salespeople - price advertising and underquoting" page 6 states that: "While a salesperson should use their expert knowledge of the market to assist the vendor to set a realistic price or range for the sale of their property, the vendor’s expectations should not influence the salesperson’s opinion of their estimated selling price. A salesperson must not overstate or understate an estimated selling price."
I totally agree with this statement. I just wish that it was considered and practiced more efficiently in the market.
Anyway the house sold for about $825,000.
My most recent example would be when I asked Fletchers- North Balwyn for a price on a home for sale recently but received no response. I guess the agent had enough "buyer interest".
I attended the April 10 auction and I must say there were at least 150 people present. About 7 to 10 people fought it out on the day. The auction seemed to drag on forever. I think that was due to the fact that the auctioneer was accepting small bids sometimes going as low as $50- $100.
Asking price for the Somervile Rd, Doncaster home was "price on application". But later enquiries revealed that asking price was 600,000- $660,000. The house was a 3 bedroom brick home with 2 bathrooms and 1 car garage.
I was speaking to a few people in the crowd and they too were saying that the agents/vendors did not quote correctly. Our circle of potential bidders were now having bets on how much over the quoted price the house would sell for. I thought the home would sell for $760,000, another said $720,000, another said $800,000 and lastly someone said $820,000. But we were all wrong.
Everybody agreed on one thing and that was, that they would have appreciated a more accurately priced range. Most were saying that they wouldn't have attended if they knew it would go for $200,000 over the quoted range.
The "Real Estate Guidelines for real estate salespeople - price advertising and underquoting" page 6 states that: "While a salesperson should use their expert knowledge of the market to assist the vendor to set a realistic price or range for the sale of their property, the vendor’s expectations should not influence the salesperson’s opinion of their estimated selling price. A salesperson must not overstate or understate an estimated selling price."
I totally agree with this statement. I just wish that it was considered and practiced more efficiently in the market.
Anyway the house sold for about $825,000.
Tuesday, April 6, 2010
Waiting For The Agent to Call Back
I went to an open house in Robinson Grove, Bulleen a few weeks ago. The property was beautifully presented. It had 3 bedrooms, 1 bathroom and parking. The agent rang after a week to see whether I was interested in the property. I told the agent that I was not interested in the property as it was too small. The other reason I didn't like the property was because it had a block of flats behind.
Now, I have tried to contact this same agent four times regarding a price for a different property. The first was by email. The second time I rang the property Managers mobile but a message kept on saying that the mobile had "restricted incoming calls". I then rang the office but the secretary from Fletchers-Balwyn North said that she did not know the price of the home and that she had the same information I had. The office referred me to another agents mobile but I had to leave a message. I rang Saturday April 3rd and left a message. It is now April 7th and I still haven't anything.
All I want is a sale price. There is no price advertised on the internet. If I was the vendor I would be a little disappointed. I feel like knocking on the owners door myself, saying "I've tried to contact your agent for a price on your home four times but have been unsuccessful"
Update:
As I wasn't getting any response from the agent I decided to attended open house in Bulleen. Conflicting price ranges were given by same office. One sales person said $700,000-$770,000 and the other said $700,000-$800,000.
May 1st auction at Barak St, Bulleen.
As I mentioned price quoted at inspection was $700K-$800K. The auctioneer opened the auction at $700,000. While seling, the agent mentioned that the house had reached reserve at $ 820,000 and was on the market. The house sold for $945,000.
Now, I have tried to contact this same agent four times regarding a price for a different property. The first was by email. The second time I rang the property Managers mobile but a message kept on saying that the mobile had "restricted incoming calls". I then rang the office but the secretary from Fletchers-Balwyn North said that she did not know the price of the home and that she had the same information I had. The office referred me to another agents mobile but I had to leave a message. I rang Saturday April 3rd and left a message. It is now April 7th and I still haven't anything.
All I want is a sale price. There is no price advertised on the internet. If I was the vendor I would be a little disappointed. I feel like knocking on the owners door myself, saying "I've tried to contact your agent for a price on your home four times but have been unsuccessful"
Update:
As I wasn't getting any response from the agent I decided to attended open house in Bulleen. Conflicting price ranges were given by same office. One sales person said $700,000-$770,000 and the other said $700,000-$800,000.
May 1st auction at Barak St, Bulleen.
As I mentioned price quoted at inspection was $700K-$800K. The auctioneer opened the auction at $700,000. While seling, the agent mentioned that the house had reached reserve at $ 820,000 and was on the market. The house sold for $945,000.
Saturday, April 3, 2010
Not Accepting Prior Offers
Last Saturday I attended an open house in Bulleen. There were people everywhere. It was like being amongst a swarm of bees. The house was about 45 years old. It had a versatile floor plan and would make a lovely family home.
Lots of those people were asking the agent whether the vendor would accept bids before auction.
The house was lovely, although it did get a little road noise due to freeway proximity.
The agent told a potential buyer that the vendor had rejected an offer ($820,000)prior to auction and that the house was going to auction. When one buyer asked him for a price he said $850,000 plus. When my partner asked for a price by email the agent said $900,000 plus due to buyer interest. When I phoned the agent he said $850,000 to $950,000.
Lots of those people were asking the agent whether the vendor would accept bids before auction.
The house was lovely, although it did get a little road noise due to freeway proximity.
The agent told a potential buyer that the vendor had rejected an offer ($820,000)prior to auction and that the house was going to auction. When one buyer asked him for a price he said $850,000 plus. When my partner asked for a price by email the agent said $900,000 plus due to buyer interest. When I phoned the agent he said $850,000 to $950,000.
Tuesday, March 30, 2010
Highest Bid Over The Range Please
I recently inspected a home in Osborne St, Williamstown. The asking range for the house was $940,000-$980,000. The home is due for auction April 10, 2010.
The home is being offered by Compton & Green Real Estate, Williamstown. It has three bedrooms, reasonable size living area and large kitchen. The home has dated (according to my standards) and is in need of a little renovation. It has mock terra cotta tiles and mock bakelite switches.
An offer was placed between the asking range but was not accepted. Unfortunately the vendor said that he/she wanted substantially over the $980,000. Perhaps in this case the vendors should increase their selling range and put it over the $980,000.
I have learnt something from the quoted range. It's basically not always true and vendors always want an extra 10% to 20% on top. As a buyer, I would much more prefer the vendor be upfront with the price range. That way I know whether I am in the running or not.
Just to sum up, the agent we dealt with was excellent to deal with. He was courteous, polite and considerate.
Update:
Auction April 10, 2010
House sold today for $1,212,500.00
I guess that's what the owner meant by substantially over the asking price. $232,000 over the asking range.
The home is being offered by Compton & Green Real Estate, Williamstown. It has three bedrooms, reasonable size living area and large kitchen. The home has dated (according to my standards) and is in need of a little renovation. It has mock terra cotta tiles and mock bakelite switches.
An offer was placed between the asking range but was not accepted. Unfortunately the vendor said that he/she wanted substantially over the $980,000. Perhaps in this case the vendors should increase their selling range and put it over the $980,000.
I have learnt something from the quoted range. It's basically not always true and vendors always want an extra 10% to 20% on top. As a buyer, I would much more prefer the vendor be upfront with the price range. That way I know whether I am in the running or not.
Just to sum up, the agent we dealt with was excellent to deal with. He was courteous, polite and considerate.
Update:
Auction April 10, 2010
House sold today for $1,212,500.00
I guess that's what the owner meant by substantially over the asking price. $232,000 over the asking range.
Monday, March 29, 2010
Keep Up, The Price Just Went Up
Found a really nice home for sale on the internet the other day. It is in Ormond Rd, Ascot Vale. Auction date scheduled for April 24, 2010.
The house is on a large allotment and is elevated. It looks as though it has been renovated and is close to transport and shopping strips. The only bad thing about the house is that there are no cupboards in the home i.e linen, built in robes or storage.
The price of the home was originally advertised as $700,000 to $770,000. But doing a recent search on the home has shown that the price has just jumped up to $750,000 to $820,000.
I guess there must have been a great amount of "buyer interest".
I wonder what the house will sell for on auction day.
Update: April 6, 2010
The Property Manager indicated that vendors were interested in taking offers prior to auction. Offers were to be put in by end of business today. The agent said to put in a strong offer between $900,000 and $950,000.
So a house that originally was advertised between $700,000-$770,000 is now asking for offers in the vicinity of $900,000 to $950,000.
I wonder what offers the vendors have had. I forgot to mention that the vendors were not letting people in to inspect the home anymore but were accepting offers.
House sold for just under $1,020,000. I guess we were never in the running afterall.
The house is on a large allotment and is elevated. It looks as though it has been renovated and is close to transport and shopping strips. The only bad thing about the house is that there are no cupboards in the home i.e linen, built in robes or storage.
The price of the home was originally advertised as $700,000 to $770,000. But doing a recent search on the home has shown that the price has just jumped up to $750,000 to $820,000.
I guess there must have been a great amount of "buyer interest".
I wonder what the house will sell for on auction day.
Update: April 6, 2010
The Property Manager indicated that vendors were interested in taking offers prior to auction. Offers were to be put in by end of business today. The agent said to put in a strong offer between $900,000 and $950,000.
So a house that originally was advertised between $700,000-$770,000 is now asking for offers in the vicinity of $900,000 to $950,000.
I wonder what offers the vendors have had. I forgot to mention that the vendors were not letting people in to inspect the home anymore but were accepting offers.
House sold for just under $1,020,000. I guess we were never in the running afterall.
I'm Asking What My Neighbor Asked
Fletchers Real Estate in Eltham are selling a beautiful home in Natalie Mews, Eltham.
The home is set on a large block of land approx. 1,600 sq m. It is described as having "architectural finesse" with an " epitome of sheer design". The home is very spacious and has lots of modern conveniences. It has 4 bedrooms, study and home theater just to mention a few.
I contacted the agent to request the price of the home. The agent said that the vendors were not quoting. Basically, the conversation stopped there on my end. The agent did go on to say that other houses in the area sold upwards of $800,000. The agent also mentioned that the owners were genuine sellers and were willing to take offers before auction.
So how much does one offer for a home with no quoted range?
Update: House sold for $1,143,000.
The home is set on a large block of land approx. 1,600 sq m. It is described as having "architectural finesse" with an " epitome of sheer design". The home is very spacious and has lots of modern conveniences. It has 4 bedrooms, study and home theater just to mention a few.
I contacted the agent to request the price of the home. The agent said that the vendors were not quoting. Basically, the conversation stopped there on my end. The agent did go on to say that other houses in the area sold upwards of $800,000. The agent also mentioned that the owners were genuine sellers and were willing to take offers before auction.
So how much does one offer for a home with no quoted range?
Update: House sold for $1,143,000.
Monday, March 22, 2010
Down to Earth
I spoke with an agent from Collins Simms, Clifton Hill yesterday. I shared my frustration of how impossible it is to find a home that sells within my price range on auction day. I told him that agents/vendors advertise homes for one price and that on auction day it sells for $200,000 over the quoted range, therefore, making it impossible to find an appropriate home. The agent was very encouraging. He said that many people were experiencing the same problem as I. He also went on to say how difficult agents found it to quote homes now a days due to the strong demand in the market. He said that he too has seen houses advertised for one price only to have it sell for way over the reserve. I think the price of homes are exceeding every ones expectations. I guess it basically comes down to under supply. There are too many people looking to buy a house and not enough houses to sell or not enough homes on the market.Basically it comes down to too much demand and not enough supply. This is bound to increase home prices.
Sunday, March 21, 2010
Would Anyone Like To Place Their Bid?
A home in Smith Ave, Williamstown was being auctioned over the weekend. The agent was Hocking Stuart, Williamstown. The original quoted range of the home was advertised at $700,000 to $770,000. On auction day the property was passed in with the vendor's bid at $700,000. The Smith Ave, house did not sell between the quoted range. The asking price of the house in now over the original and unsuccessful selling range at the new price of $785,000.
Upcoming Auction This Weekend - Advertised Within My Price Range - I have Written It Off Already
This will be a very short post. The property which is in Parker Street Williamstown is being advertised by a Williamstown real estate agent who had admitted to me the property which I had been inspecting and currently advertised around 950k to 1050k was actually sold for 950k three years ago. This particular agent, in my opinion, was less than honest on yet an earlier occasion whilst I was inspecting a property in Ann Street Williamstown, as I had asked him (very clearly and in no uncertain terms) if there were any known high density development proposals in the vicinity of the Ann Street area. Well well, he neglected to tell me about the controversial 12 to 16 story proposal [yes it's a Justin Madden story again] to build a massive monstrosity almost directly opposite the Ann St property. The development also threatens to dwarf the nearby Time-Ball Tower and has upset local residents. That is another post in-itself for another day.
I will be proactive and avoid a driving all the way to Williamstown for no other purpose than to engage in a futile time wasting exercise.
I will be proactive and avoid a driving all the way to Williamstown for no other purpose than to engage in a futile time wasting exercise.
Friday, March 19, 2010
Going, Going, Gone | Let the Disappointment At Auction Continue
Today I went to an auction in Raleigh St, Thornbury. The house was an old brick house in need of much work. EJ Love Real Estate-Preston was the agent. The selling price was advertised at $550,000 - $600,000. There was an excellent turn out for the auction on the day. The house was close to schools, shops and transport.
The house sold on auction day for $850,000. That's $200,00 over the price range quoted.
I feel that I have wasted my time yet again. If the quotes given were more accurate, I wouldn't have wasted my time ringing council, architects and attending open house inspections.
As we were walking away, I overheard another couple say what a waste of time it was going to the auction and that they would never had wasted their time going to the auction had the agents/vendor price range been more accurate.
That wasn't the only disappointment today. Earlier this morning we had attended an auction in Clifton Hill. We attended because the estate agent indicated that the property which was originally advertised at 1 million to 1.1 million had been marked down to a price range of 920,000 to 1,000,000 due to lack of buyer interest. My partner and I were willing to pay around 950,000 (or a little more) after taking into account that the property needed a substantial amount of repair and renovation. The auction started rather high with a vendor bid of 950,000 which got our backs up a little and another family present also seemed to get their backs up after the high vendor bid; so neither of us placed any bids. There was only one subsequent bid of 960,000 and with that one and only offering the property was passed in. Later we learned that further negotiations yielded another offer of 1,030,000 which wasn't enough to meet the reserve of 1,070,000. So in other words, although the property's price range had been lowered, the vendor's reserve probably hadn't actually moved at all. It was nothing but an exercise in manipulation to alter the perceived range and generate some buyer interest with a strategy for creeping the property price back up to the original reserve figure.
The house sold on auction day for $850,000. That's $200,00 over the price range quoted.
I feel that I have wasted my time yet again. If the quotes given were more accurate, I wouldn't have wasted my time ringing council, architects and attending open house inspections.
As we were walking away, I overheard another couple say what a waste of time it was going to the auction and that they would never had wasted their time going to the auction had the agents/vendor price range been more accurate.
That wasn't the only disappointment today. Earlier this morning we had attended an auction in Clifton Hill. We attended because the estate agent indicated that the property which was originally advertised at 1 million to 1.1 million had been marked down to a price range of 920,000 to 1,000,000 due to lack of buyer interest. My partner and I were willing to pay around 950,000 (or a little more) after taking into account that the property needed a substantial amount of repair and renovation. The auction started rather high with a vendor bid of 950,000 which got our backs up a little and another family present also seemed to get their backs up after the high vendor bid; so neither of us placed any bids. There was only one subsequent bid of 960,000 and with that one and only offering the property was passed in. Later we learned that further negotiations yielded another offer of 1,030,000 which wasn't enough to meet the reserve of 1,070,000. So in other words, although the property's price range had been lowered, the vendor's reserve probably hadn't actually moved at all. It was nothing but an exercise in manipulation to alter the perceived range and generate some buyer interest with a strategy for creeping the property price back up to the original reserve figure.
Wednesday, March 17, 2010
And The Under Quoting Continues
Every property inspection reveals a dismal pattern of higher than quoted prices which in my view amounts to nothing less than under quoting. Let me explain:
I went to an inspection in Ivanhoe today (which was the first scheduled inspection) for a 1930's home. True to form the agent's asking price range of $900 000 to $1000 000 had already become up to and around $1,100 000 to $1,200 000. This according to the agent was "based on our interest today". This seems strange to me, because this is a newly listed property and I was the second person to enter the property and inspect it.
Just to give you an update on this property. The house sold over the weekend (27th April, 2010) and guess how much it sold for? It sold for $1,320,000. That's 32% over the highest quoted range.
Real Estate Guidelines for real estate salespeople - price advertising and underquoting published by Consumer Affairs Victoria states "An estimated selling price is determined by a salesperson based on their experience, skill and knowledge of the market. It must be a realistic estimate of the likely selling price of a property at the time the agency authorities signed. A salesperson must use the best information available at that time to make the estimate and, at a minimum, take into account the latest comparable property sales and price trends".
I guess the agent was a little inexperienced when they gave me the following information. "Based on recent sales in the area we anticipate buyer interest to be in the $900,000 - $1,000,000 price range. We are experiencing a rising market at the moment so there is a chance that the price could be higher if driven by competition".
I went to an inspection in Ivanhoe today (which was the first scheduled inspection) for a 1930's home. True to form the agent's asking price range of $900 000 to $1000 000 had already become up to and around $1,100 000 to $1,200 000. This according to the agent was "based on our interest today". This seems strange to me, because this is a newly listed property and I was the second person to enter the property and inspect it.
Just to give you an update on this property. The house sold over the weekend (27th April, 2010) and guess how much it sold for? It sold for $1,320,000. That's 32% over the highest quoted range.
Real Estate Guidelines for real estate salespeople - price advertising and underquoting published by Consumer Affairs Victoria states "An estimated selling price is determined by a salesperson based on their experience, skill and knowledge of the market. It must be a realistic estimate of the likely selling price of a property at the time the agency authorities signed. A salesperson must use the best information available at that time to make the estimate and, at a minimum, take into account the latest comparable property sales and price trends".
I guess the agent was a little inexperienced when they gave me the following information. "Based on recent sales in the area we anticipate buyer interest to be in the $900,000 - $1,000,000 price range. We are experiencing a rising market at the moment so there is a chance that the price could be higher if driven by competition".
Sunday, March 14, 2010
Auctions - Open Houses - Over the weekend
Over the weekend I attended 2 auctions and 1 open house.
The first house was being auctioned in Mountainview Parade, Rosanna. The house was a double fronted house and was last renovated about 10 years ago. It had "million dollar views" and was located close to schools, university, hospitals and train stations. It was a three bedroom home with 1 bathroom and 1 car garage. The real estate agent was Hocking Stuart, Ivanhoe .
When we arrived at the house, we were overwhelmed by the amount of people who had turned up for auction day. My partner and I decide to place bets on what it would sell for. I thought it would sell for $830,000 and my partner said it would sell for $803,000. The auction started with an opening bid of $580,000. The agent accepted the bid and then accepted increases of $10,000. Before we knew it the price of the home was in the high $700,000's. The home eventually sold for $828,000. The agent valued the home at $630,000-$680,000.
The second house was in Landscape Drive,Doncaster East. The home had no price range advertised on the internet but when requested the agent replied by writing "We are looking at offers above $700k going to Auction"
The house was auctioned by Philip Webb, Doncaster East. The house was on a corner block. It had 4 bedrooms, 2 bathrooms and a two car garage. The house was 33 years old which meant it required a lot of renovation. The house was close to The Pines, schools, transport and parks. It was family home with a huge rumpus area. The auctioneer was late in starting the auction due to late arrivals. Finally the auction was underway. The opening bid was a vendor's bid for $690K. Ongoing bids were to go up by $20,000. I think the $20,000 bids put people off a little because it took a little while for people to place a second bid. Finally someone put up their hand and offered $710,000. This allowed the auction to proceed. The house eventually sold for $820,000.
The open house I went to see was in Parker St, Williamstown. The house is currently being advertised for $950,000 to $1050,000. We spoke to the staff from Hocking Stuart, Williamstown. The real estate agent mentioned that the house sold three years ago for $950,000. We therefore asked if the house was being under quoted and he said no. If the owners bought the property at $950,000, why would they quote $950,000 to $1,050,000 three years later?
It will be very interesting to see what the house sells for in the 2 weeks.
The first house was being auctioned in Mountainview Parade, Rosanna. The house was a double fronted house and was last renovated about 10 years ago. It had "million dollar views" and was located close to schools, university, hospitals and train stations. It was a three bedroom home with 1 bathroom and 1 car garage. The real estate agent was Hocking Stuart, Ivanhoe .
When we arrived at the house, we were overwhelmed by the amount of people who had turned up for auction day. My partner and I decide to place bets on what it would sell for. I thought it would sell for $830,000 and my partner said it would sell for $803,000. The auction started with an opening bid of $580,000. The agent accepted the bid and then accepted increases of $10,000. Before we knew it the price of the home was in the high $700,000's. The home eventually sold for $828,000. The agent valued the home at $630,000-$680,000.
The second house was in Landscape Drive,Doncaster East. The home had no price range advertised on the internet but when requested the agent replied by writing "We are looking at offers above $700k going to Auction"
The house was auctioned by Philip Webb, Doncaster East. The house was on a corner block. It had 4 bedrooms, 2 bathrooms and a two car garage. The house was 33 years old which meant it required a lot of renovation. The house was close to The Pines, schools, transport and parks. It was family home with a huge rumpus area. The auctioneer was late in starting the auction due to late arrivals. Finally the auction was underway. The opening bid was a vendor's bid for $690K. Ongoing bids were to go up by $20,000. I think the $20,000 bids put people off a little because it took a little while for people to place a second bid. Finally someone put up their hand and offered $710,000. This allowed the auction to proceed. The house eventually sold for $820,000.
The open house I went to see was in Parker St, Williamstown. The house is currently being advertised for $950,000 to $1050,000. We spoke to the staff from Hocking Stuart, Williamstown. The real estate agent mentioned that the house sold three years ago for $950,000. We therefore asked if the house was being under quoted and he said no. If the owners bought the property at $950,000, why would they quote $950,000 to $1,050,000 three years later?
It will be very interesting to see what the house sells for in the 2 weeks.
Wednesday, March 10, 2010
Not Quoting At The Moment.
This is the second time I have encountered a real estate agent (requesting a price for a house) who has refused to quote on price.
The first time was with ASL Real Estate agents in Doncaster. My partner emailed to request a price on a house advertised for auction. The agent called back the next day and said that they were instructed by the vendor not to give out prices. I spoke to her and told her that if she wasn't willing to give me a price then I wasn't willing to show interest in the property. She then said that the Buckingham Crescent, Doncaster property was to fetch $700,000 to $770,000. I did not attend open inspections for this house. The agent continues to send Section 32's and updates on the property.
This time I saw a house in Duke St, Brunswick East. I rang Hocking Stuart, Brunswick. The receptionist answered and put me on hold. She said that they weren't quoting as yet. I asked why and she said that the Property Manager didn't give her a reason why they just weren't quoting.
How do vendors expect to sell their house? How do the agents expect prospective buyers to know whether they are in that price range or not?
This all reminds me of a time when a house in my street was for sale in 2005. I was curious to see how much the town house in my street would sell for. I approached the real estate which was Thompson, Calton and requested a price on the home. The Property Manager said that they were taking the property to auction and weren't giving out prices. I asked at what range they would start the auction and again she said she didn't know. I took a different approach and explained that I was not looking to buy but in fact was looking to sell my house which was in the same street. She then said "We will be starting the auction at $936,000. The townhouse didn't sell on the day of the auction. Maybe that's because nobody knew whether they were in that range.
The first time was with ASL Real Estate agents in Doncaster. My partner emailed to request a price on a house advertised for auction. The agent called back the next day and said that they were instructed by the vendor not to give out prices. I spoke to her and told her that if she wasn't willing to give me a price then I wasn't willing to show interest in the property. She then said that the Buckingham Crescent, Doncaster property was to fetch $700,000 to $770,000. I did not attend open inspections for this house. The agent continues to send Section 32's and updates on the property.
This time I saw a house in Duke St, Brunswick East. I rang Hocking Stuart, Brunswick. The receptionist answered and put me on hold. She said that they weren't quoting as yet. I asked why and she said that the Property Manager didn't give her a reason why they just weren't quoting.
How do vendors expect to sell their house? How do the agents expect prospective buyers to know whether they are in that price range or not?
This all reminds me of a time when a house in my street was for sale in 2005. I was curious to see how much the town house in my street would sell for. I approached the real estate which was Thompson, Calton and requested a price on the home. The Property Manager said that they were taking the property to auction and weren't giving out prices. I asked at what range they would start the auction and again she said she didn't know. I took a different approach and explained that I was not looking to buy but in fact was looking to sell my house which was in the same street. She then said "We will be starting the auction at $936,000. The townhouse didn't sell on the day of the auction. Maybe that's because nobody knew whether they were in that range.
Tuesday, March 2, 2010
How Much is That House In The Window?
What is going on with service providers in the housing resale market?
I wrote to LJ Hooker asking for a price on a house in Frensham Rd, Macleod. There was no price advertised on the internet so I had no choice but to write in. This was the agents response:
"With this property we have specific instruction from the Vendor not to quote a price or a price range. However if you contact me or leave a contact number I can discuss the conditions of sale and possible development on this property. Also I have a list of recent sales in the local area that might help."
As a buyer how am I expected to buy a house if I am not given a price? The agent didn't even provide an expected price range. Is it $500,000, $800,000 over $1,000,000.
Is this an acceptable response? I am not a developer. I am just looking for somewhere to live.
So am I able to bid on this property? Who knows? Certainly not me.
I wrote to LJ Hooker asking for a price on a house in Frensham Rd, Macleod. There was no price advertised on the internet so I had no choice but to write in. This was the agents response:
"With this property we have specific instruction from the Vendor not to quote a price or a price range. However if you contact me or leave a contact number I can discuss the conditions of sale and possible development on this property. Also I have a list of recent sales in the local area that might help."
As a buyer how am I expected to buy a house if I am not given a price? The agent didn't even provide an expected price range. Is it $500,000, $800,000 over $1,000,000.
Is this an acceptable response? I am not a developer. I am just looking for somewhere to live.
So am I able to bid on this property? Who knows? Certainly not me.
Monday, March 1, 2010
That'll Be An Extra $50,000
A house in Crofton Ave, Williamstown was advertised between $750,000 - $800,000. On the 13th of February I attended the open house inspection. I didn't even get to the front door when the agent said that the price of the home had just gone up $50,000. The house was now re-advertised for $800,000-$850,000.
The house was near the beach and in quite good condition although it did require a few cosmetic changes.
I did attend this auction. There were 5 bidders in total. To be fair the opening bid was for $750,000 which was accepted by Williams Real Estate but the price quickly rose past $850,000. The house was sold for $889,000.
The house was near the beach and in quite good condition although it did require a few cosmetic changes.
I did attend this auction. There were 5 bidders in total. To be fair the opening bid was for $750,000 which was accepted by Williams Real Estate but the price quickly rose past $850,000. The house was sold for $889,000.
Underquoting
I attended an open house on Thursday 18th of February in Cumberland Ave, Balwyn North. The house was being sold by Hocking Stuart and was advertised for $770,000- $830,000. I rang the Balwyn office to confirm inspection times and at the same time I asked the Property Manager if the price being quoted was really "the price". I was getting tired of going to open houses only to see the house sell for $100,000 over the quoting price at auction. I didn't want to waste my time nor did I want to waste the agents or vendors time. The agent reassured me that the quoted price was correct and that although he could not control what bidders did on the day of the auction, the reserve was set between the $770,000 and $830,000.
The house was set in a nice leafy street, it was on an elevated block of land 668sqm and it was reasonably close to Greythorn Primary School, Westfield Shopping Centre and Elgar Park. The house for sale required renovation. It had an old green "funky" kitchen, large front windows and creaky floors. Pantry was covered by curtains and the bedrooms were dark and in need of attention. Laundry was awkwardly placed in the center of the home. Based on the homes state, the price quoted was reasonable for the area but still a little on the high side, considering the fact that the house required a lot of renovation (by my standards anyway).
The auction was set for the 27 of February 2010. A very busy day for auctions. I did not attend the auction simply because I did not believe the house was going to sell for the quoted price, and I was right. Guess how much the house sold for? $1,080,000.
The house was set in a nice leafy street, it was on an elevated block of land 668sqm and it was reasonably close to Greythorn Primary School, Westfield Shopping Centre and Elgar Park. The house for sale required renovation. It had an old green "funky" kitchen, large front windows and creaky floors. Pantry was covered by curtains and the bedrooms were dark and in need of attention. Laundry was awkwardly placed in the center of the home. Based on the homes state, the price quoted was reasonable for the area but still a little on the high side, considering the fact that the house required a lot of renovation (by my standards anyway).
The auction was set for the 27 of February 2010. A very busy day for auctions. I did not attend the auction simply because I did not believe the house was going to sell for the quoted price, and I was right. Guess how much the house sold for? $1,080,000.
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