Anchorage Thread Closed?

[Prakman]

Hi Sparky,

Yes reps proportion of fees charged seems fairly low. You do have to consider that it costs about 80K a month to keep our doors open, about half of the overheads are paid for by the rent roll but thats why sales split are skewed towards the agency. In saying that, if you are a top performer, it's not unusal for you to get 60/70/80% splits to yourself (for this split, you would have to sell a house every week on average).

In regards to getting valuations done, I'm almost scared to get it done! I had mine last valued at 500K and would be lucky to get $400K for them today. I just hope that the market picks up again and quick.

Happy property hunting.

Regards

Prak

 

[Ausprop]

In regards to getting valuations done, I'm almost scared to get it done! I had mine last valued at 500K and would be lucky to get $400K for them today. I just hope that the market picks up again and quick.

interesting. if they are correct that we are at the end of a 25 year long cycle of a run up of credit, then it could be 25 years till it bottoms out.

when you look to the 90s, some of those values stagnated for 8 or so years. I think things will stay pretty flat till until well into the next decade. Now if the properties are at worst cash neutral and you don;t have much skin in, then who cares. If they are neg geared then you seriously have to consider your position.

 

[Prakman]

Hi there,

Just updating the crew that our rental at 32 Grove Street shoalwater has been very slow at letting. We have 2 vacant properties in the area and have found that enquiries to rent has been very low. We have reduced the asking rent to be in the range $350-400 per week.

Hopefully things will pick up and we can rent it out soon.

 

[Prakman]

Hey Boys and ladies,

Just want to let you all know that renting in Rockingham is very slow at the moment! Had to reduce the asking rent of 32 Grove Street SHOALWATER to $350 pw to get a tenant!

Time of the times.

Happy investing.

 

[Ausprop]

the sales side seems to be flying tho - was down there yesterday and see most or all the blocks around the lake have sold on waterfornt parkway and a lot of the other stock shifting too

 

[Prakman]

Had to drop the rents to 350pw to get a tennant and have done so. The rentals at the moment is very quiet!

 

[Beef_Hooked]

Any Anchorage people here left standing?

As there are 2 sides to each story i.e. we love huge rises when holding but we also love reduced prices when buying, I've come out from my bunker, pulled my tin out from under the mattress and have been nosing around there lately.

Prices seem to be back to 2007 levels now with almost reasonable returns, and some of the houses appear below cost, so I'm toying with the idea that about now might be ripe for putting pressure on some of those long term listings.

I'd be interested in current opinions of the area esp. from those still hanging in there. Are tenants easier to find at the moment, have rents stopped sliding etc etc.

Sounds mercenary esp. as so many SSer's were original punters, but hey that's the other side of the coin.

Cheers,
Beef.

 

[Ausprop]

prices were stupidly cheap last year - 4x2's at $400k etc. I believe the market is in recovery an dprices well up now. It had to happen

if the mining boom gets off the ground, rudd willing, then this estate will benefit nicely

 

[Beef_Hooked]

Hi AP, Yeah they do seem to have bottomed out and started to move again. The figures are still looking good though as long as inflation and hence IR stay fairly stable. I'd have a fairly healthy deposit (seems you have to these days) so I could go in CF+ so plenty of buffer which is always gives the warm fuzzies.

I'm just trying to get a feel for rental demand and the quality of tenants available. The subdivision seems to be maturing quite nicely but I'd still prefer to see a larger proportion of owner occupiers in the area for the continued long term evolution of the area, however as you say, with a positive view of mining taken into account, it looking might be the right moment to get off my hands and hop onto the upswing.

Hmmm.... Might take another drive up thataway next week.

Cheers,
Beef.

 

[asdf]

I think getting around $360 or $380 a week in there. Not sure about prices but definitely getting a lot more pesky letters from agents to list. I'd say you'll still be able to get a good quality one for below $450k with all air-cons, good fixtures, landscape..etc.. all done. Beats building anyday. I'd say more investors have sold out of the estate replaced with owner occupiers which is always great to see though I'd say there are still a fair share of IPs in there.

 

[yadreamin]

Wonder how Kenneth is fairing these days?
I think his family were going to help him hold the Ips he had in this estate.
If your out there Kenneth drop in and let us know how you are?

 

[regrow]

I live in the anchorage and to be honest have not looked at rents since selling at the top of the last boom.

Although speaking to the neighbor who has just moved in and they are renting from her sister, the last tenant was paying $350pw for a tiny 3 x 2 on a cottage block with no A/C, Only a carport no garage. She only left because of a sick relative.

Regards

Regrow

 

[Beef_Hooked]

Thanks Guys, good info which seems to confirm my casual observations.

Yeah I did wonder about Kenneth, and Sparky. Kenneth in particular was well worth reading and provided another perspective given his circumstances.
It'd be good to get an update from both to see how they're working out.

Love the sig Regrow

Cheers,
Beef.

 

[Beef_Hooked]

Bloody Hell... Anchorage has moved along quite well of late
Kenneth must be buying islands in the Caribbean.

$3,329,000

 

[Ausprop]

haven't looked at shoalwater for a while... just ahd a flick. still soem good buying there. will be a big beneficiary of resources boom MKII

 

[strongeggshells]

i'm new to all of this and am looking at building in this area.
Anyone know how this area is doing these days? And is it an ok area for a young family?