Anchorage Thread Closed?

You didn't rent to the people who have to move out of 48 now that we have sold did you? They have to be out by 2nd Feb so they would be looking now.
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Dear Sparky23,

1. How much do you manage to sell your house at 48 Grove Street and when was the house sold, please.

2. Thank you.


regards,
Kenneth KOH
 
Hi Kenneth

How lovely to hear from you, how are you holding up through this awful year we have just been through?

We sacrificed that one for $387,000 in the end, worse than that the valuer for ANZ (our bank valuer) I think from Herron Todd White only valued it at $380,000. I suspect he looked at the median price earlier in the year which was $380,000 in September but increased to $418,750 in October. Also he only did a drive by which is a bit disappointing.

Does anyone have any recent bank valuations on similar properties?

If you let me know which email address to use I can email to you a comprehensive report that our agent at Ray White prepared for the sale containing lots of handy statistics for the area.
 
Hi Kenneth

How lovely to hear from you, how are you holding up through this awful year we have just been through?

We sacrificed that one for $387,000 in the end, worse than that the valuer for ANZ (our bank valuer) I think from Herron Todd White only valued it at $380,000. I suspect he looked at the median price earlier in the year which was $380,000 in September but increased to $418,750 in October. Also he only did a drive by which is a bit disappointing.

Does anyone have any recent bank valuations on similar properties?

If you let me know which email address to use I can email to you a comprehensive report that our agent at Ray White prepared for the sale containing lots of handy statistics for the area.
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Dear Sparky23,

1. My email address is at [email protected].

2. My brother-in-laws will help me "keep" his 2 rental properties at 15 FitzGibbon Road Rockingham and at No: 52, Waterfront Parkway, Shoalwater WA 6169 by continuing to service the monthly interest payment for its housing loans, on my behalf, until such times these 2 properties have become either "cashflow neutral" or/and " positive cashflow" subsequently.

3. Assuming the RBA further reduces its official Interest Rate by another 2% before June 2009, we are likely to be on target to achieve this objective by June 2009, after which we will lock-in onto the low Housing Loan Interest Rate for the next 3-5 years period.

4. In the mean-time, I am presently in Singapore, to try to sell off a fully-paid up HDB flat for S$600,000 in order to urgently raise the required cashflow for immediate use in Australia.

5. I am still trying to "save" the double-storey house at 26 Eldon Street, Shoalwater, WA 6169 as well as Lot 39 Vacant Land at the Haywards Bay Estate in NSW, from being foreclosed, in the mean time, if our God be willing.

6. What are your own investing plans for 2009, please? How are your own projects coming up at Hayward Bay Estate, please? And what are your own views on the various housing markets in Australia for 2009, in particular for the Sydney and Perth property markets please?

7. Looking forward to hearing and learning further from you, please.

8. Thank you.

regards,
Kenneth KOH
 
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2. My brother-in-laws will help me "keep" his 2 rental properties at 15 FitzGibbon Road Rockingham and at No: 52, Waterfront Parkway, Shoalwater WA 6169 by continuing to service the monthly interest payment for its housing loans, on my behalf, until such times these 2 properties have become either "cashflow neutral" or/and " positive cashflow" subsequently.

Very generous family you have there Kenneth. How does he fit in to your investment picture, if you don't mind me asking?
 
Hi Everyone,

Hey Kenneth, it's a shame about your 26 Eldon, looks like a really nice floor plan and the views are great. Hoppe that you get a good result under the hammer.

HEy Sharon, the tenants that we have in our two Grove Street properties are keeping the place like their own, there's not a scratch on the wall. With respect to rents, it's still going up but not at the same frantic pace. I imagine that by the end of this year, rents should be $400+ for 4x2 in Shoalwater making them abit easier to hold on to (it's a shame that I fixed my rates for 5 years at 7.5%!)

Like everyone, I hope that 09 is a much better year for real estate.

Happy buying and holding,

Prak
 
Can anyone tell me what the latest median price is for Shoalwater please and which source? I have figures from September but REIWA is around $442,000 and RP Data only $380,000 but showing $412,000 for August and $418,000 (approx) for October so if there is anything more up to date it would be helpful.Which source wold be more dependable?
 
Hi Kenneth


We sacrificed that one for $387,000 in the end, worse than that the valuer for ANZ (our bank valuer) I think from Herron Todd White only valued it at $380,000.


Sparky,

I would have thought a value getting within plus or minus 2% would have been pretty good. Am i missing something?

TF
 
Yes our price was a stressed sale so it was easy to pick up a median price from
a matching month once he knew the sale price, he used the September data yet the October median was back up to just under $420,000 and the August was $412,000 (from memory) At the time he did the valuation the October figures were out so I would have thought he could have taken this into account. Even if the three months were taken into account the average was around $400,000. Prior to that the numbers were still mainly in the $400,s. I think we were lowballed. I would have liked a look at more recent data to see whether it would help if I need to build a case as the bank hold the other identical property and now want to take security over another 3 properties due to these figures which is OTT as one of them has $80,000 equity sitting in it so I think they only need one.
 
No we sold the property ourselves but they valued both of the properties as they were attached to the same LOC. We needed better valuations so that the value of the remaining property would come closer to covering the loan against that property plus the attached loc. Problem now is that the poor val means a shortfall of $40,000 or so. They now want security over 3 properties for that reason but as 1 of them has $80,000 equity another $100,000 and the third around another $100,000 it seems a little greedy to me!
 
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2. My brother-in-laws will help me "keep" his 2 rental properties at 15 FitzGibbon Road Rockingham and at No: 52, Waterfront Parkway, Shoalwater WA 6169 by continuing to service the monthly interest payment for its housing loans, on my behalf, until such times these 2 properties have become either "cashflow neutral" or/and " positive cashflow" subsequently.

Kenneth KOH

You sold these two properties, have not you?
 
Dear All,

1. According to the www.realestate.com.au, the following properties in the Anchorage Estate were sold recently as follows:

a. 7th Jan 2009 - 11 Celtic Crescent, Shoalwater - $? - RayWhite-Rockingham.

b. 5th Jan 2009 - 39 Brindabella Avenue, Rockingham -$? - Fruit Property-South Metro Coast

c. 22nd Dec 2008 -25 Boyle Avenue, Rockingham - $? - Ray White-Rockingham

d. 19th Dec 2008 - 50 Liechardt Loop Rockingham - $? - Professionals-Rockingham

e. 3rd Dec 2008 - 48 Grove Street, Shoalwater - $387,000 - Ray White-Rockingham

f. 27 Nov 2008 - 33 Brindabella Avenue, Rockingham - $? - Summit Realty - Waikiki

g. 27 Nov 2008 - 7 Alkimos Street, Rockingham - $? - Warnbro Realty-Warnbro

h. 8th Oct 2008 - 32 Almond Street, Shoalwater - $406,000 -Ray White-Rockingham

i. 20th Aug 2008 - 10 Oleander Street, Shoalwater -$? - Fruit Property-South coast Metro

2, Can member who are REIWA-members or/and RE members, kindly provide the relevant sale prices data where possible, please.

3. Thank you.

regards,
Kenneth KOH
 
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Hi Kenneth

The one on 11 Celtic Crescent was oringinally mine but let it go to a mate. Will find out what he sold it for and let you know.

Regards

Regrow
 
Dear Sparky23,

1. According to www.reiwa.com.au, the median house price for Shoalwater and for Rockingham suburbs is about A$441,500 and A$370,000 respectively, as at 30th Septmber 2008.

2. This is much lower than the A$455,000 median house price reported for the Perth Metropolitan Region during the same reporting period.

3. Its median weekly rent for a 4-bedroom house in Shoalwater and in the Rockingham suburbs amounts to A$320 and A$300 respectively, as compared to A$400 median week rent for similar 4-bedroom house in the Perth Metropolitan Region

3. Based on the last 12 months successfully transacted house sale data, the median house price for a 4-bedroom house in the Shoalwater and in the Rockingham suburbs is about A$450,000 and A$380,000 as at 30th Sep 2008.

4. Based on the last 12 months succesfully transacted house sale data, the median house price for a 3-Bedroom house in the Shoalwater and in the Rockingham suburbs is about A$420,000 and A$318,000 respectively as at 30th September 2008.

5. Last 12 Months Annual Growth Rate for Shoalwater and for the Rockingham suburbs amounts to -4% and -10% respectively, as at 30th September 2008, as compared to a -6.1% fall for the Perth Metropolitan Region for the same reporting period, please.

6. For your update and further comments/discussion where neccessary, please.

7. Thank you.

regards,
Kenneth KOH
 
Hi Kenneth

I thought that by now there might be some more recent data for the December quarter, do any of the agents on here have that? The September one is quite old now. Have you been able to save your Haywards Bay block now?
 
Dear Sparky23,

1. According to Reiwa.com's data, Perth median house price has apparently officially "peaked" at A$460,000 in 2007 and has come down slightly to A$455,000 in 2008.

2. However, based on my own personal memory recall, I did recall reading that the Perth median house price has further risen to as high as A$475,000 in September 2007 before falling back to the present A$435,000 based on the REIWA's Sep 2008 data. This represents some 8.42% fall as compared to the present 6.1% fall over the last 12 months as reported by Reiwa.com.

3. Reiwa has still not officially released its December 2008 data on its website yet, at this point in time, please.

4. Thank you.

regards,
Kenneth KOH
 
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