haha great, answer,
wasnt looking for someone to make a decision, was merely curious how people saw in getting in half way or joining part of the way of the rising tide
2770 going crazy
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haha great, answer,
wasnt looking for someone to make a decision, was merely curious how people saw in getting in half way or joining part of the way of the rising tide
I prefer to move on than grab for scraps.
I'm looking elsewhere. Had a couple of places in mind, been doin the groundwork, a few dozen hours travelling interstate to check places out too.
If it wasn't for my change in work condition, i'd would have bought another place in the outer west a few months ago then just concentrated on these new areas.
It isn't so much that property is going up only a little that turns me off it. It is that you are paying more for bad stock. I don't want to pay $240k for the remaining townhouse per se, I want my pick of the renovator delight 3 bedroom brick homes with 700sqm in the back ready for subdivision for $240k.
Well actually I can't believe it. I started buying there early 2010 and lots of standard 3 beds were going for low $200's at auction.
OO were cheaper and bad fire damage ones were going for mid $100's. Nathan got a few for lower that were passed in at auction. In 2011 fire damaged ones started going for crazy prices.
So you are saying in 2012 things went down again?
I only went to one auction (full fitout needed) in early 2012 and it went way above what we were willing to pay. And that was someone buying through a buyers agent so $7?K more than I thought was a good equity gain.
Haha, yes, I am happy, but my thoughts are a little conflicting.
This movement has a different 'feel' than last time around. Last time there was a lot of first home owners as well as investors. Many of them had been watching the reno shows & were buying nasty stuff for silly prices expecting to make a killing.
At the moment, we have the renovator delights going for a lot more than I'd pay, but I'm not seeing too much first home owners. It's mostly investors wanting to put Granny Flats on the back of the houses. In fact, there are heaps of Granny Flats out there now, so while it is a great tool for increasing cashflow, personally I feel there is a bit of saturation happening.
Will this movement keep moving. I think so. In all reality, there really hasn't been a heap of movement yet, so I think it's got a way to go. I've got some stuff that I'd like to offload, but I'm not even close to thinking about it yet.
On the other side of the highway, though, I'm seeing more personal shoppers. People wanting something nice, close to the M4 and close to all the new employment. That suits me just fine as well.
Haha, yes, I am happy, but my thoughts are a little conflicting.
This movement has a different 'feel' than last time around. Last time there was a lot of first home owners as well as investors. Many of them had been watching the reno shows & were buying nasty stuff for silly prices expecting to make a killing.
At the moment, we have the renovator delights going for a lot more than I'd pay, but I'm not seeing too much first home owners. It's mostly investors wanting to put Granny Flats on the back of the houses. In fact, there are heaps of Granny Flats out there now, so while it is a great tool for increasing cashflow, personally I feel there is a bit of saturation happening.
Will this movement keep moving. I think so. In all reality, there really hasn't been a heap of movement yet, so I think it's got a way to go. I've got some stuff that I'd like to offload, but I'm not even close to thinking about it yet.
On the other side of the highway, though, I'm seeing more personal shoppers. People wanting something nice, close to the M4 and close to all the new employment. That suits me just fine as well.
Hi Cliff - how did you go with Logan subsequently?
I don't think you can look at Logan and say the same will happen as it did in Sydney.
Sydney is decentralising due to population
Brisbane is still 20+ years away from this
Not even Melbourne is at this stage
Inner city and beach have to move significantly in Brisbane before I can see a significant price rise in Logan. You can buy for 350 - 400 in good suburbs in Brisbane so why buy for 200 on the outer fringe
I bet you the houses in the good suburbs in Sydney were all 1.5 million before these outer hubs started to take off from the 250 ranges
A long way to go in Brisbane - needs the population density
I agreed that you cant say that Logan is going to perform because the Sydney outter is...
But your comment on why people who buy in $200k price bracket rather then $350-400k is rather silly... People will buy in the $200k for affordability. Home Buyers will buy because thats what they can afford and investors will buy as there is good return / yield... as for the capital growth...
Yeah thats right
What I was thinking is that prices won't go up unless majority of people are priced out of good suburbs. Which is the case in Sydney but far from it in Brisbane. A couple on pretty average wages can afford to buy in good areas
Melbourne sits somewhere in between
http://www.realestate.com.au/property-house-nsw-tregear-113935731
$232k, absolutely insane market, didnt stand a chance got blown out of the water with the bidding
the home reno reality shows have had a strong/bad effect,
lets hope the owners werent thinking, that a latte+weekend of work+fighting with your partner+15 mins of tears was going to deliver a massive windfall
$232k, absolutely insane market, didnt stand a chance
got blown out of the water with the biddingthe home reno reality shows have had a strong/bad effect,
lets hope the owners werent thinking, that a latte+weekend of work+fighting with your partner+15 mins of tears was going to deliver a massive windfall
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http://www.realestate.com.au/property-house-nsw-tregear-113935731
$232k, absolutely insane market, didnt stand a chance
Thats just ludicrous. And I bet the purchaser was all chuffed thinking they were an "astute investor".
http://www.realestate.com.au/property-house-nsw-tregear-113935731
$232k, absolutely insane market, didnt stand a chance
Go 2770 !!
I've seen it before! Homes in worse condition that this selling for $240k or more, right at the last peak. Then the auctioneer would take the underbidders on a tour of the area & get more sales from the ones that weren't burnt out.
Since I think this has lots more room to move, all I can say is "YAY!"
http://www.realestate.com.au/property-house-nsw-tregear-113935731
$232k, absolutely insane market, didnt stand a chance
the home reno reality shows have had a strong/bad effect,
lets hope the owners werent thinking, that a latte+weekend of work+fighting with your partner+15 mins of tears was going to deliver a massive windfall
OMG. But the crazy thing is there was more than 1 person willing to go that high. If it is an investor I'd love to see the figures.
Did you bid? How many bidders once it got over $210K?
Might get mine revalued now.
OMG. But the crazy thing is there was more than 1 person willing to go that high. If it is an investor I'd love to see the figures.
Did you bid? How many bidders once it got over $210K?
Might get mine revalued now.
no, didnt bid, was going to wait until the hysteria died down....it didnt, couldnt tell how many bidders,
$232k purchase
$7k Purchasing costs
Reno: I could get it done for $15k provided there were no nasty surprises, a novice DIY, maybe $20k, fully professional, $35-$40k
assume $35k
Total costs: $274 excl holding costs,
Market price, conservative: $280k, realistically, $300k, however, one sold last weekend for $312k for a semi renoed one,
you might make $25k if you are lucky, and thats not including selling costs
No thanks
Thanks for your figures. Agree, not worth the risk with those figures.
I saw a few last year (buy/reno/sell) where there was no money made. Going by buy price and sell price.
I wonder what their figures were as they obviously think it's worthwhile.
WOW $15K's pretty good. I would have budgetted $20K+.
Do you replace kitchen, bathroom? Polish floors? or carpet?
Would you resheet all walls? Our last burnout we scrubbed some rooms but afterwards thought it would have been less time consuming and not much more to just resheet.
I saw a few last year (buy/reno/sell) where there was no money made. Going by buy price and sell price.
I wonder what their figures were as they obviously think it's worthwhile.
WOW $15K's pretty good. I would have budgetted $20K+.
Do you replace kitchen, bathroom? Polish floors? or carpet?
Would you resheet all walls? Our last burnout we scrubbed some rooms but afterwards thought it would have been less time consuming and not much more to just resheet.
What was $190-200k 2-3 years ago now seems to be around $240-250k +
http://www.realestate.com.au/property-house-nsw-lethbridge+park-113616063
A nice renovation and then....
http://www.realestate.com.au/property-house-nsw-lethbridge+park-113597903
http://www.realestate.com.au/property-house-nsw-lethbridge+park-113616063
A nice renovation and then....
http://www.realestate.com.au/property-house-nsw-lethbridge+park-113597903
It's rampant at all the DOH auctions it seems. I was at the raymond terrace auctions a month or so ago. The numbers said $130k. They sold for $170k+. I was in complete disbelief, as was the purchaser because they kept coughing like mad at the back of the auction room once they won it.
Negative profit me thinks on those ones.
Negative profit me thinks on those ones.
You are right about the DIY shows having an impact. My mate was going to buy a place full of bamboo, under the house and out. He had read on a site that it was a simply cut and brush technique and ‘bam’ it was gone. (You know who you are).
Have any of you removed bamboo before? FML. I must have repeated myself about a dozen times subtly and non-subtly that it was NOT a one day job.
And the stories I’ve heard about how simple it is to knock down a wall and build a new one. Even after doing it a few times, I still don’t think to myself, AH, A SIMPLE KNOCK DOWN AND REBUILD WALL JOB. I think, $$$ + Time, can I be bothered.
Have any of you removed bamboo before? FML. I must have repeated myself about a dozen times subtly and non-subtly that it was NOT a one day job.
And the stories I’ve heard about how simple it is to knock down a wall and build a new one. Even after doing it a few times, I still don’t think to myself, AH, A SIMPLE KNOCK DOWN AND REBUILD WALL JOB. I think, $$$ + Time, can I be bothered.
