Albany Creek 3 Bedroom Brick

[DAAJ]

Lowset 3 bedroom neat and tidy house in Brisbane(north) Albany Creek approx 16Klms to CBD 2 min drive to major shopping centre ,schools ,doctor ,gym. Large block 900 sqm tropical gardens ,small brick shed attached,single carport quiet street close to bunya state forest asking $295000 wont last at this price brisbane is moving quickly. Currently has tennent till september 2004 at $240 a week can go to $260 no problem.Will update with photos later on or i can be contacted by email [email protected]) for more details. I am selling this home privatly so minimum cost to myself and purhaser is a great advantage. (No agents Please)

This is the add i have on E-bay.If you have any questions please let me know.
I would like to sell it privatly to avoid agents fees.So the price is whithout their fees.As far as i can gather houses like this in my area sell over 300k.
Cheers Dom

 

[Jamie]

Hi Dom,

Good luck with the sale

I have a quick question for you. I understand you dont want to sell with an agent as their fee on 300k is around $8-9,000.. but have you explored whether or not a good agent can get you more than youre asking?

Ebay is a terrible place to advertise property, and if the property does get ANY bids, none are enforceable.. all they do is provide the bidder an opportunity to negotiate with you.

Youve already mentioned most places sell for over 300k there, and the median for Albany Creek on Home Price Guide is 345k (with the rate the area has moved in the last year, Im sure its actually a little higher than this, knowing how out of date these statistics are...)

Are you sure youre putting yourself in a good position to achieve the best possible scenario? I know you may be saving the 8k in agents fees, but what If a GOOD agent were able to negotiate your sale at 320k? Sure you pay their fees, but youre around 15k ahead. Have you at least approached an agent and seen what they had to say?

I understand youre reticence to deal with agents, and I personally have had a terrible experience with a QLD agent... but it might be unwise to close off all avenues before you see what sort of options are out there. There ARE some good agents out there.. a number of them are in Brisbane, and members of the forum.

I guarantee you, your house wont sell on ebay

Best of luck, whatever you decide,

Jamie.

 

[DAAJ]

Jamie,

Thanks for your reply and the great information you are right i will probably not sell on e-bay.
I will have a look at some agents but i just dont like their sales pitch it really anoys me. I hate their obvious friendly manner in which they speak to you and i would rather talk straight to buisness then talk about the weather.

I will also look at private sale sights so i do get an opportunity to see if i can sell it myself.
Thanks again Jaime
Dom

 

[Jamie]

Hi Dom,

Some good sites are: For Sale By Owner: www.fsbo.com.au

Real Estate Angel: www.realestateangel.com.au

Your Estate: www.yourestate.com.au

The last two can also help with advertising ideas.

Good luck,

Jamie.

 

[Sunstone]

Dear Dom,

Why sell?

Cheers,

Sunstone.

 

[DAAJ]

Sunstone,
I have read many threads on why sell and why not to sell and i know Jan somers is for not selling for a long period of time and which i completly agree. But their comes a time when it is the best thing to do,in my situation selling this propety will wipe out %90 debt i owe on PPOR.The investment property has doubled since i bought it two years ago. And i have six more IP's so this gives me the opportunity to do many things including working less hours and spending more time with my young daughters, and investing in more property such as diversification,reno,large devlopment where higher capital growth will be available for the next boom.And i feel this is the right time to sell,Low Interest rates,FHOG,stampduty and so i am very excited about selling and moving on.
Every one has a differnt situation but times change quickly and JAn Somers way(Buy & Hold) may not be the best thing in the current market.
Cheers Dom

 

[geoffw]

Sunstone,
I have read many threads on why sell and why not to sell and i know Jan somers is for not selling for a long period of time and which i completly agree. But their comes a time when it is the best thing to do,in my situation selling this propety will wipe out %90 debt i owe on PPOR.The investment property has doubled since i bought it two years ago. And i have six more IP's so this gives me the opportunity to do many things including working less hours and spending more time with my young daughters, and investing in more property such as diversification,reno,large devlopment where higher capital growth will be available for the next boom.And i feel this is the right time to sell,Low Interest rates,FHOG,stampduty and so i am very excited about selling and moving on.
Every one has a differnt situation but times change quickly and JAn Somers way(Buy & Hold) may not be the best thing in the current market.
Cheers Dom

In the Cashflow game, it can become useful to sell a property which has picked up a lot of value. The resulting cash influx can get you out of the ratrace much sooner.

 

[Sunstone]

Dear Dom,

Every one has a differnt situation but times change quickly and JAn Somers way(Buy & Hold) may not be the best thing in the current market.

This post is not designed to debate whether or not you should be selling. You have put put this CE so you will be asked on your motives for selling.

However in my opinion no savy investor (who wanted top price) would be trying to sell an IP in Brisbane in the current market much less trying to sell something privately or on EBay.

There are other ways to make PPOR debt deductible.

The investment property has doubled since i bought it two years ago

If I sold all my properties that have doubled in value I would only be left with one - simply because I haven't settled on it yet.

I guarantee you, your house wont sell on ebay

I agree with Jamie. If you are serious about selling talk to a few local agents, do your due diligence and then choose the right one.

Enjoy the journey. I agree spending time with family is important.


Dear Geoff,

In the Cashflow game, it can become useful to sell a property which has picked up a lot of value. The resulting cash influx can get you out of the ratrace much sooner.

In the game this can be right. However it is a game based on US taxation laws and the importance of a 1031 deferred tax exchange. Throw in capital gains tax and the game would be completely changed in this respect.

Cheers,

Sunstone.

 

[DAAJ]

Sunstone,

I hope i did not start any debate it was not intended.

"However in my opinion no savy investor (who wanted top price) would be trying to sell an IP in Brisbane in the current market much less trying to sell something privately or on EBay."

Can you explain why not sell in current market?


"There are other ways to make PPOR debt deductible."
Im listening.

Why agents ? Is their something wrong with selling privatly?

Thanks for your reply Sunstone, have been re-evaluating and may decide to sell PPOR.

Cheers Dom

 

[Sunstone]

Dear Dom,

Other things can be discussed in PM’s.

However some reasons not to sell privately (FSBO) (For sale by owners):

-Who is going to save the agents commission?
Normally in a FSBO sale both the seller AND buyer wants to save the agents commission. Obviously this cannot happen but both parties are looking for a better deal than otherwise would be the case.

-Do buyers feel comfortable dealing with the owner?
I talk a great deal with owners on site where possible because they give myself lots of information that they shouldn’t. However I think that many buyers may find it difficult to talk with owners without having the third party involved. Less comfortable buyers means a lower price.

-Does an owner accurately know market values?
All of the FSBO’s I have seen have had no idea of what the market price is. Or if they did they were so overpriced that I didn’t even bother to go and have a look at them. I can think of two FSBO properties. One was 45% overpriced and the other 100% overpriced. Both are still on the market and in the case of the 100% one it has been so for two years. As long as the owner doesn’t increase his price it will EVENTUALLY sell. But is that a well thought out plan? What does that do to the owner occupier/tenant or potential buyers during that time?

-Does an owner have an established client base?
Some of my best deals have been on properties that have not been advertised. The reason why these properties could be sold so quickly was that the agent knew his customers. However not all agents are created equal and you must do your own due diligence on the agent. Again an owner does not have access to an existing customer base.

-Is the owner doing this full time?
When customers want to see the house you need to be able to show it to them. Personally I think that some agents work draconian hours. Always on call, never able to switch off. At the very least many see it as a 24 x 6 days a week “job”. During the time that the owner seriously has the property on the market they need to be on call, and that includes weekends. Forget going for a holiday.

-Is an owner able to present a complete “service”?
Home owners often want to be able to select between a range of houses to find one that best suits their “needs”, for investors on the other hand if it is not a strategic purchase then they are focussed purely on getting the best deal. Do you want to be primarily selling to investors?

-Can an owner advertise on www.realestate.com.au ?
I know for a fact they do not accept private advert’s. So unless you work with another party you have removed one of the best online marketing channels.

-Correct completion of documentation?
Especially in QLD is an owner going to correctly fill out the PAMD 30a and 27b forms as well as the sales contract? If you don’t/forget to do this correctly then your buyer has more grounds for legally terminating the contract.

-Can an owner give an accurate picture of the rental market?
Some can and some can’t. However bigger volumes of properties allow an agent to give a more accurate vacancy rate. All investors need this information. If an owner can’t supply it then they have to talk with an agent anyway who at the end of the day probably has more to offer.

Cheers,

Sunstone.

 

[suggo]

-Who is going to save the agents commission?
I see the advantage of no sales commision being the fact that the property will be priced less and still be able to clear the same amount. At the lesser you will attract more buyers and the property will be easier to sell for the same profit!

-Do buyers feel comfortable dealing with the owner?
I believe that alot of people actually think the same way you do. They like to talk to the owners because they believe that they will give information that they "shouldn't". For this reason I believe that the owner, if astute, has an advantage over a real estate agent in that the buyer won't feel like he is trying to pull dodgies.

-Does an owner accurately know market values?
My question is, Does an estate agent know market values? They do a CMA (I think that's what they call them) and then attempt to get the owner to tell them how much. Then it's 'let's not put a price on it and find out from the market what they think it is worth' line of bulls#@t.
I can get a CMA done from friends of mine and I think I'm pretty in touch with the local market.
I have also seen lots and lots of houses well over the market that are being handled by agents.
And I can't tell you the number of times we have been told "we can't really tell what the price is at the moment with the market the way it is".

-Does an owner have an established client base?
We listened to the agent we used and he stated he had an established client base of 80, plus each person in his office (at least 4 of them) and I assume they all had at least 50 people on each base. That's 280 people for four houses and we got zip out of that. Overrated is a word that comes to mind.

-Is the owner doing this full time?
No, but neither does the estate agent! Between meetings and other sellers and days of showing buyers not remotely interested in any of our properties,, I believe that I could put more time into my houses than they do! (I am availiable ffrom 12pm each and every day and the phone doesn't get turned off!)

-Is an owner able to present a complete “service”?
From our time buying the range of houses that is normally shown to us are the ones that suit the agents needs to sell, and have had little to do with our "needs".

-Can an owner advertise on www.realestate.com.au ?
$132 will get me on realestate.com. (This was the first one I came across on FSBO)

-Correct completion of documentation?
Get good advice and there shouldn't be a problem....really!

-Can an owner give an accurate picture of the rental market?
Are you serious? The agents we have had anything to do with had no idea and had to get their PM to give an appraisal. I won't start on PM's in this post but good ones are few and far between. A little bit of research in prep for this question (current rentals availiable for surrounding agents etc) and you will probably be better able than any agent anyway.



I'm not trying to have a go at you with this post Sunstone, or any of you who are agents out there! The good ones I believe are worth having, but as I have stated previously they are far too many ordinary to poor agents out there masquerading as good agents. Thay say all the right things but you don't know if they are the real thing till they are put to work.

I think almost anyone from this forum could do the FSBO thing and do it quite well!

Suggo

ps another question,
-Can an owner really be expected to 'condition' himself down to make the sale easier?

 

[Sunstone]

I'm not trying to have a go at you with this post Sunstone, or any of you who are agents out there!

Dear Suggo,

Debate is always healthy. However facts are important.

Could someone infer from this post that you are trying to say I am an agent? Maybe you need to come along to a BIG meeting. Or talk with others who actually know myself.

-Can an owner advertise on www.realestate.com.au ?
$132 will get me on realestate.com. (This was the first one I came across on FSBO)

Directly from realestate.com.au's own site.

Please note:
To list your property on realestate.com.au you must contact a registered real estate agent with
a current subscription to our services.

realestate.com.au does not accept private listings, except in Share Accommodation and Holiday Rentals
where you can place and pay for an ad online.

http://www.realestate.com.au/cgi-bin/rsearch?a=feedback&to=advertising&t=res

-Who is going to save the agents commission?
I see the advantage of no sales commision being the fact that the property will be priced less and still be able to clear the same amount. At the lesser you will attract more buyers and the property will be easier to sell for the same profit!

I have never found this to be the case. Maybe you can show some practical examples? Again which party is the one that “saves” the commission?

-Do buyers feel comfortable dealing with the owner?
I believe that alot of people actually think the same way you do. They like to talk to the owners because they believe that they will give information that they "shouldn't". For this reason I believe that the owner, if astute, has an advantage over a real estate agent in that the buyer won't feel like he is trying to pull dodgies.

Is that good for the seller? The original purpose is to achieve a top result for the seller. If it isn’t financially rewarding why do it? From a buyers perspective owners certainly can lie.

A recent example was when I asked the owner when he was looking to move. He said that the date was not that important as he wanted to know how much he could get for it and then go out and find a new house. So I gave him a two contract options with a higher price and delayed settlements. Turns out he already had bought another house and HAD to settle within five weeks. Owners are no more reliable in this regard.

-Does an owner accurately know market values?
My question is, Does an estate agent know market values? They do a CMA (I think that's what they call them) and then attempt to get the owner to tell them how much. Then it's 'let's not put a price on it and find out from the market what they think it is worth' line of bulls#@t.
I can get a CMA done from friends of mine and I think I'm pretty in touch with the local market.
I have also seen lots and lots of houses well over the market that are being handled by agents.
And I can't tell you the number of times we have been told "we can't really tell what the price is at the moment with the market the way it is".

I agree that not all agents are good. Hence the importance that I previously placed on doing “due diligence” on your agent as well. However when push comes to shove who is going more accurately know market values. Overpriced properties are commonly handled by agents desperate to get business and so get given “overpriced turkeys”. How many “overpriced turkeys” does the best agent in the area get or actually accept in the first place?

-Does an owner have an established client base?
We listened to the agent we used and he stated he had an established client base of 80, plus each person in his office (at least 4 of them) and I assume they all had at least 50 people on each base. That's 280 people for four houses and we got zip out of that. Overrated is a word that comes to mind.

So given a choice you would prefer not to have this? Have you never been rung by an agent before a property has been advertised? If not then you need to further cultivate some relationships.

-Is the owner doing this full time?
No, but neither does the estate agent! Between meetings and other sellers and days of showing buyers not remotely interested in any of our properties,, I believe that I could put more time into my houses than they do! (I am availiable ffrom 12pm each and every day and the phone doesn't get turned off!)

Well the hardest working ones……….. I know how many times I’ve been rung at 8:00-9:00pm on a Saturday to get a jump start or a contract signed on the odd Sunday and I can see a property anytime I want during the week! Personally I think being an agent has the potential to have a negative impact on their personal relationships. Why is it that so many “agents” burnout or drop out of the industry?

--Is an owner able to present a complete “service”?
From our time buying the range of houses that is normally shown to us are the ones that suit the agents needs to sell, and have had little to do with our "needs".

This can be the case I agree. However that is what is the target for agents trying to find PPOR’s for people. An investor off the street will get that. However my key agents know exactly what I want because I have spent the time to educate them.

-Can an owner advertise on www.realestate.com.au ?
$132 will get me on realestate.com. (This was the first one I came across on FSBO)

See top.

-Correct completion of documentation?
Get good advice and there shouldn't be a problem....really!

Shouldn’t but then think about the number of things ALL of us get wrong. How many people do you know who failed their drivers licence on the first go? I still remember fondly years ago a fellow driving over a roundabout on his test and wondering why he failed.

Why bring in room for error needlessly? I’ve heard enough stories about DIY conveyancing…………….. And I am sure that Asy know’s a few more.

-Can an owner give an accurate picture of the rental market?
Are you serious? The agents we have had anything to do with had no idea and had to get their PM to give an appraisal. I won't start on PM's in this post but good ones are few and far between. A little bit of research in prep for this question (current rentals availiable for surrounding agents etc) and you will probably be better able than any agent anyway.

That is the point. You are not just paying for information from the sales agent but you are getting feedback from their PM as well. I know one agency that actually takes one of their PM’s every week on their “stock run” to be able to give an accurate rental market appraisal to supply to their sales agents.

I consider myself a good judge of my rental market. However at times my PM has made even more money for myself. One case I wanted to increase the rent 37.5%. My PM said she could get a 43.75% increase. We got the 43.75% increase.


Suggo,

No disagreement that there are poor agents out there. Again it comes down to due diligence. How many people would be “eaten” by two tiered marketers if they had done their “due diligence”?

I think almost anyone from this forum could do the FSBO thing and do it quite well!!

This I respectfully disagree with. However if you decide to sell your properties by yourself do let us know!

-ps another question,
-Can an owner really be expected to 'condition' himself down to make the sale easier?

Good question. If this was the case then they certainly shouldn’t be selling. Could an owner get depressed trying to sell in a slow market and sell themselves short? Is this a (de)motivated seller in disguise?


Hope you get the results you are looking for!

Cheers,

Sunstone.

 

[suggo]

Hi Sunstone,
Just wanted to quickly reply to the first paragraph. I wasn't trying to infer that you were an agent, I was quite sure you weren't. And yes I will one day make it along to a BIG meeting, I am very much looking forward to going to one actually.

And I never said that I personally could get on realestate.com, I said "$132 will get me on realestate.com." Maybe I should have worded it better, like : $132 will get my property on realestate.com.

Dear Suggo,

Debate is always healthy. However facts are important.

Could someone infer from this post that you are trying to say I am an agent? Maybe you need to come along to a BIG meeting. Or talk with others who actually know myself.

QUOTE]

 

[Cat09Tails]

DAAJ,

The rental return on that IP is about 3.5%. Could you tell us some specifics, like the size of the hous (in sq or sq metres), is it brick construction? Renovated? Year built? Anything else you can think of?

Cat

 

[DAAJ]

Cat09Tails,

The house is about 12 years old, i think it would be around 150 sq meters with garage more (200) brick construction no renovation.Painted only inside.No esuite, sloping block to house and plenty room in back yard for a pool. Tile roof very tropical but nothing over roof some trees in back yard and neat and tidy, landscaped
Dom

 

[Sunstone]

Dear Suggo,

Good to have that cleared up. On the $132 that is still unclear. Obviously this is utilising the services of an existing agent. Any links?

And yes I will one day make it along to a BIG meeting, I am very much looking forward to going to one actually.

Certainly a great physical extension of the somersoft forum and a great way to meet likeminded people. Even when views are not agreed upon playing devils advocate based on facts can certainly benefit both parties. Come along and make it happen.

Dom should come along too.

Well after that debate back to the main topic at hand. Thanks to Cat09Tails for putting the thread back on track.

Cheers,

Sunstone.

 

[DAAJ]

http://www.albanycreekrealestate.com.au/frame.htm


Here is the link for the house.



Price: $295,000

Type: Houses
Status: For Sale
Land Size: 904 m² Approx.


1
3
Double


This cosy 3 three bedroom treasure is tucked away in a quiet area in Albany Forest and is sited on almost a ¼ acre (904m2). The presentation is great and features a separate lounge room – family that opens to leaf courtyard. Currently rented out until the 15 October 2004 @ $240 PW (by the tenants from heaven), so would suit either the investor, first home buyer or someone wanting to downside. It
Dom