2770 going crazy

from my experience 2770 has grown quite a bit since a year ago when i was attending all the R&W auctions on monday nights.

back then the prices were $170K to $190K

even fire damage houses were as low as $110K in wilmot.

Can you believe that?

NO way now. Even fire damage are fetching for $150K and more.
 
RetireRich101 said:
Not sure how many houses are there total in Captain Cook Drive, but 2 weeks ago when I hit RPData, there were 15 houses that are DOH, quiet a high %
Click to expand...

256 houses and there are 3 that are not in private ownership based off the street owner search I just did in Pricefinder.

Willmot is almost entirely privately owned (owner and investor) these days, good for future gentrification, still has its issues as a suburb tho
 
Last edited:
RetireRich101 said:
Not sure how many houses are there total in Captain Cook Drive, but 2 weeks ago when I hit RPData, there were 15 houses that are DOH, quiet a high %
Click to expand...

Almost ALL of 2770 was DOH. Take a drive around and notice how the building designs have been re-used repeated, with occasional variations to relieve the monotony. (Watch for the Pizza-Hut houses.)

What's remarkable is how much has been sold off.
 
DaveM said:
256 houses and there are 3 that are not in private ownership based off the street owner search I just did in Pricefinder.

Willmot is almost entirely privately owned (owner and investor) these days, good for future gentrification, still has its issues as a suburb tho
Click to expand...

Humm... I can see 15 DoH in Captain Cook Dr, Willmot and 8 in Houtman Ave, Willmot alone.

Wonder why there is such a big discrepancy with rpdata and pricefinder. Happy to paste here the houses that are DoH according to rpdata...

I agree it is going thru gentrification in the 2770 dot address. However R&W the exclusive agent selling DoH in 2770 is only doing 2-3 every few weeks, so it my take a while before it gets all 'gentrified'??
 
The only ones listed as being titled to "the proprietors" on Pricefinder are 119, 162 and 218. Others are all in private or investment company names.

Pricefinder shows no L&HC or Proprietors in Houtman at all??

A number have the name Birch as owner as well... I wonder who that could be? :D
 
There is a termite ridden property about to come up for sale in 2770

It would need a minimum of 40k to fix up

Almost a year ago this could have been purchased for 160k

Now they will be seeking 200k ish with potential resale for around the 280k mark due torrent price rises

Would you guys buy something like this?

given that it's pretty much a guaranteed equity plus growth in the short term
but on the other hand there is risk buying in an area where the rise has already started and I'm paying 40k more then 12 months ago there fore the risk of the growth potential being small or buying near the top of the cycle?
 
TMNT said:
...given that it's pretty much a guaranteed equity plus growth in the short term...
Click to expand...

I dont agree with this.

The challenge with spending money -- usually big money -- on repairing structural issues is that after the money is spent, the place looks basically the same. No increase in rent possible, as compared to spending money painting and polishing the floor.

So the buy price had better be very good to make it worth while, and in the current climate that's unlikely.
 
vaughan said:
I dont agree with this.

The challenge with spending money -- usually big money -- on repairing structural issues is that after the money is spent, the place looks basically the same. No increase in rent possible, as compared to spending money painting and polishing the floor.

So the buy price had better be very good to make it worth while, and in the current climate that's unlikely.
Click to expand...

The equity growth will come not fRom renovating it above the average home but the ability to purchase it say for 80k below what conpparables are selling for
so by spending only 40k
the equity will be gained

I'm more concerned about timing

Ie no point buying something that you might make 40k equity but since you bought at peak it will stay the ssame price for 7 years unless the plan is to sell
 
DaveM said:
The only ones listed as being titled to "the proprietors" on Pricefinder are 119, 162 and 218. Others are all in private or investment company names.

Pricefinder shows no L&HC or Proprietors in Houtman at all??

A number have the name Birch as owner as well... I wonder who that could be? :D
Click to expand...

these are the house in RPDATA Houtman and Captain Cook listing as DoH

7 Houtman Avenue Willmot, NSW, 2770
13 Houtman Avenue Willmot, NSW, 2770
17 Houtman Avenue Willmot, NSW, 2770
19 Houtman Avenue Willmot, NSW, 2770
23 Houtman Avenue Willmot, NSW, 2770
27 Houtman Avenue Willmot, NSW, 2770
31 Houtman Avenue Willmot, NSW, 2770
12 CAPTAIN COOK DR, WILLMOT, 2770
18 CAPTAIN COOK DR, WILLMOT, 2770
19 CAPTAIN COOK DR, WILLMOT, 2770
22 CAPTAIN COOK DR, WILLMOT, 2770
28 CAPTAIN COOK DR, WILLMOT, 2770
31 CAPTAIN COOK DR, WILLMOT, 2770
33 CAPTAIN COOK DR, WILLMOT, 2770
36 CAPTAIN COOK DR, WILLMOT, 2770
42 CAPTAIN COOK DR, WILLMOT, 2770
48 CAPTAIN COOK DR, WILLMOT, 2770
49 CAPTAIN COOK DR, WILLMOT, 2770
50 CAPTAIN COOK DR, WILLMOT, 2770
53 CAPTAIN COOK DR, WILLMOT, 2770
65 CAPTAIN COOK DR, WILLMOT, 2770
72 CAPTAIN COOK DR, WILLMOT, 2770
 
ok that is weird since they are all privately owned according to Pricefinder, including sale history for many going back over a decade

Eg 36 Capt Cook was sold in 2007 by DOH to private owner for $170k and sold again in 2012 for $255k, 42 Capt Cook sold by DOH in 2006 etc




RetireRich101 said:
these are the house in RPDATA Houtman and Captain Cook listing as DoH

7 Houtman Avenue Willmot, NSW, 2770
13 Houtman Avenue Willmot, NSW, 2770
17 Houtman Avenue Willmot, NSW, 2770
19 Houtman Avenue Willmot, NSW, 2770
23 Houtman Avenue Willmot, NSW, 2770
27 Houtman Avenue Willmot, NSW, 2770
31 Houtman Avenue Willmot, NSW, 2770
12 CAPTAIN COOK DR, WILLMOT, 2770
18 CAPTAIN COOK DR, WILLMOT, 2770
19 CAPTAIN COOK DR, WILLMOT, 2770
22 CAPTAIN COOK DR, WILLMOT, 2770
28 CAPTAIN COOK DR, WILLMOT, 2770
31 CAPTAIN COOK DR, WILLMOT, 2770
33 CAPTAIN COOK DR, WILLMOT, 2770
36 CAPTAIN COOK DR, WILLMOT, 2770
42 CAPTAIN COOK DR, WILLMOT, 2770
48 CAPTAIN COOK DR, WILLMOT, 2770
49 CAPTAIN COOK DR, WILLMOT, 2770
50 CAPTAIN COOK DR, WILLMOT, 2770
53 CAPTAIN COOK DR, WILLMOT, 2770
65 CAPTAIN COOK DR, WILLMOT, 2770
72 CAPTAIN COOK DR, WILLMOT, 2770
Click to expand...
 
DaveM said:
ok that is weird since they are all privately owned according to Pricefinder, including sale history for many going back over a decade

Eg 36 Capt Cook was sold in 2007 by DOH to private owner for $170k and sold again in 2012 for $255k, 42 Capt Cook sold in 2006 etc
Click to expand...

I'll take this offline and PM you, as others might not be interested, but I am interested in the results from rpdata vs pricefinder.

I checked again 36 Cpt Cook. you are correct that this property is not DoH as the quick list I generated for a friend.

I looked in more details regards to Cpt Cook Dr. Rpdata shows 42 in that street. Of 256 houses on that street, ie 16% DoH

I will PM you rpdata list and map
 
At the peak of the last boom ( around 2003 ) , places were sell for around 240 in Mt Druitt. ( I can remember talking to someone at a somersoft gathering who'd just bought one and was expecting it to keep on going up ) . They went backwards for a while so IMHO they're probably back to where they were at that stage .

At this stage you'll have people who bought then who are wanting to finally get back what they put in after ten years of basically sideways movement .

We missed the boat last time in Mt Druitt , but saw what happened and then went up and bought in logan.

For people who didn't want to buy in Mt Druitt over the last ten years , sounds like now would be a good time to buy . Six months ago would have been better , but I thing the people who are buying at 240 at the moment will be very happy in another couple of years time.

Might have to start looking myself .

Skater , your thoughts ? I know you'll be a very happy vegimite at the moment .

Cliff
 
TMNT said:
The equity growth will come not fRom renovating it above the average home but the ability to purchase it say for 80k below what conpparables are selling for
so by spending only 40k
the equity will be gained

I'm more concerned about timing

Ie no point buying something that you might make 40k equity but since you bought at peak it will stay the ssame price for 7 years unless the plan is to sell
Click to expand...

back to my point, if say this mini boom lasts for 3 years, and assume we are about 6 months in, would you rather get in now or look at a different area,

hence my original question about this termite ridden place, 6 months ago, I could have got it for $40k less, but the market has moved $40k up ....decision decisions
 
TMNT said:
back to my point, if say this mini boom lasts for 3 years, and assume we are about 6 months in, would you rather get in now or look at a different area,

hence my original question about this termite ridden place, 6 months ago, I could have got it for $40k less, but the market has moved $40k up ....decision decisions
Click to expand...

No one can make your decision for you.

If anyone tells you what to do , be wary .

This forum is a great sounding board . Listen to every one and then make your own decision .

What other area would you look at ? Previously Mt Druitt has been one of the last places to start moving in Sydney .

Cliff
 
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