local anecdote - market bad

[Aaron_C]

That Albert Park property is in a good location - not surprised at the level of interest

 

[pieman]

this...
http://www.domain.com.au/Property/For-Sale/House/VIC/Brighton/?adid=2009093745

b grade position but lots of interest, must have been 15% over reserve and more than you would have seen 12 months ago. I have lived 100m from here in a place I was renoing so know the area well.

this...
http://www.domain.com.au/Property/For-Sale/House/VIC/Brighton/?adid=2009080501
nice reno, small land <480sqm, busy street and up the wrong end of cochrane st. 10% over reserve?

2 results does not make a trend but I've seen more bidders at one auction than I have seen in 12 months. Not all the sky's falling down.

 

[lizzie]

what does that say?

That people on the fringe (ie, reliant on mortgage) are reluctant to commit to anything with all the financial/employment uncertainty - or - you've done a really nice reno and they're looking for ideas.

Hubby and I go to the occasional open for either reno ideas or to see what you get for your money - with no intention to buy. I rarely buy from an open as if I want it I put in my offer beforehand.

 

[nww]

Just got off the phone to the Heart foundation looking for collectors for our
street and got talking to the the phone operator who is a licensed real estate
agent, she has had to take up a week job as a call centre operator and only
works the weekends in real estate.

 

[Hulkster]

Have been to a few auctions of houses recently

Richmond - passed in on vendor bid
St Kilda East - passed in on vendor bid
St Kilda - passed in at 720 against 750

Brighton Beach
Hut 1 - sold 261k
Hut 2 - sold 230k (ish)

Moral of the story is Brighton Boxes are booming.

 

[buzzlightyear]

This property sold in 2008 for $577k. I was interested back then but was a bit above what I could afford at the time.

Now listed at $719k, although it was originally listed at $749k. In fact the photos they are using are the exact same ones in 2008. Can they do that? But I am assuming they have not updated it.

One of the best streets in Seddon, would be interesting to see ultimate selling price. A mid 6 purchase price would be great value imo for this as a PPOR

 

[Bigtone]

this...
http://www.domain.com.au/Property/For-Sale/House/VIC/Brighton/?adid=2009093745

b grade position but lots of interest, must have been 15% over reserve and more than you would have seen 12 months ago. I have lived 100m from here in a place I was renoing so know the area well.

this...
http://www.domain.com.au/Property/For-Sale/House/VIC/Brighton/?adid=2009080501
nice reno, small land <480sqm, busy street and up the wrong end of cochrane st. 10% over reserve?

2 results does not make a trend but I've seen more bidders at one auction than I have seen in 12 months. Not all the sky's falling down.

i have been looking to buy in this market for 12+ months, prices have certaintly not come down as i had expected/hoped, very little comes on the market that i would consider buying and when something decent comes on it has many buyers competing for it.

units that were $550k in mentone, parkdale, highett etc 12 months ago are now mid $400's so different markets very close to each other are at very different stages in cycle