Anyone else looking in Perth at the moment?

[gooram]

Well I bought in East Perth earlier this year and just bought in St James, so better put my mouth where my money is.

I think the "inner east" is a good bet. Undervalued compared to equivalent distances from the city/river in any other direction.

Vic Park, E. Vic Park, Rivervale, Lathlain, Carlisle, St James.

Agree that VP and EVP are exe already but still have some room to move. Will require some further "gentrification" though.

 

[Gentlem8n]

Hi Rixter,

Thanks for those wise words. Can you elaborate further as to what are these "hot buttons" are? So i know how to negotiate better?

I have been looking at a few more these past couple of weeks and none ticks off the boxes like the booragoon one. I am thinking of upping my offer to my max of $450 =[.

Gosh its hard to get something decent for young ones like me.

cheers

First off welcome to the forum.

Making offers is not just about 'the purchase price'. Its about securing a win/win situation for the vendor and the purchaser.

To do so one must find out why the vendor is selling and what the vendor is looking for. In other words the vendors 'Hot buttons'. Then pitch an offer to press those 'Hot Buttons.

Its all about negotiation and to negotiate one must find out what the vendor is wanting then fill it.

Hope this helps.

 

[Gentlem8n]

Thanks Aus prop

keep trying, one rejection isn't many. Oh to have had the insight to have bought in March!

 

[Rixter]

Hi Rixter,

Thanks for those wise words. Can you elaborate further as to what are these "hot buttons" are? So i know how to negotiate better?

Hot buttons are the vendors circumstances.....it can be alot of different things, all depends....ie it can be time to sell... it can be the purchase of another property subject to sale of their property etc etc..it can be alot of different situations..it can be anything. This is why you need to ask why they are selling and what can you do to help them achieve or make the transition easier for them

Hope this helps.

 

[Aaron Sice]

Pretty small market there BC - not talking your book are you?

That market has looked undervalued to me for the whole of the last ten years that I have been looking at it. I bought some stock in Rivervale as a result. Still looks undervalued and I keep wondering why it doesn't get swooped on. One day I'm sure it will rise compared to its neighbours... dunno when though!

rents are astonishing - $550 a week for an average 4x2.

Still very high number of Housing Commission homes - same as Belmont, Rivervale and Carlisle though....

maybe it's just the name. maybe it's the lack of new housing stock. maybe it's the fact that it's in the Town of Vic Park *shudder*. maybe because it's a small suburb it gets overlooked - like Beldon or St James.

dunno.

 

[Alex P Keaton]

bump

anyone looking??

 

[INVSTOR]

Yep. Been trying to decide between developing, commercial or another resi. Just sticking with what I know for now, resi. Taking a 2nd look at a property this week.

 

[Rixter]

I'm looking looking looking.

 

[Lynchy]

I'm looking for a development block with a house for $400k or less. Thinking Belmont/Cloverdale areas.

Any other ideas?

 

[barry2007]

Im not too familiar with Perth suburbs being in the eastern states. Does anyone know anything about Armadale area? I just been having a very quick look and note plenty of property on the market but also plenty of rentals in the area... How long to commute to the city and what are the local industries?
Should I target somewhere else?

 

[Rixter]

. How long to commute to the city and what are the local industries? Should I target somewhere else?

45 mins non peak hour via car.
Crime & welfare collection.
Yes.

 

[INVSTOR]

Im not too familiar with Perth suburbs being in the eastern states. Does anyone know anything about Armadale area? I just been having a very quick look and note plenty of property on the market but also plenty of rentals in the area... How long to commute to the city and what are the local industries?
Should I target somewhere else?

Here's a link to an old spreadsheet which may help a bit, doesn't include new suburbs though. http://www.somersoft.com/forums/showthread.php?t=12230

 

[barry2007]

45 mins non peak hour via car.
Crime & welfare collection.
Yes.

Thanks for that. The 45 min in non peak sounds horrible , Worse than Sydney.

Crime and welfare is another worry.

Might look a bit closer to the city then,

Cheers guys.

 

[Fat Mal]

Barry
Additional information for you, had an IP property there 18 year ago when I first started out. Nothing but trouble - breakins, late rent, tenants doing runners. Nothing has changed in 18 years either.
Mal

 

[INVSTOR]

Yep. Been trying to decide between developing, commercial or another resi. Just sticking with what I know for now, resi. Taking a 2nd look at a property this week.

3 other investors already made offers on it, I didn't bother.

I guess this story has some truth to it

http://www.abc.net.au/7.30/content/2010/s2834666.htm

 

[INVSTOR]

If FHB's have stopped buying, I wonder what will happen when investors run out of money?

I saw a 3 bed house house for sale on the weekend for $300,000 (under offer in 1 day) when a similar sized block (no house) sold a couple of months ago For $350,000 a couple of streets away.

Another house I saw had a pad down for a huge extension. Owners ran out of money to complete extension.

Not sure if these are bad signs or good buying opportunities.

 

[Ausprop]

ebbs and flows huh? the premium market is running hot

 

[Aaron Sice]

the upper range stil stagnant - premium sits above that.

that $650k - $1.2mil range just sitting....

 

[INVSTOR]

Properties are definately sitting for longer on the bottom end.

When the premium market is running hot, is that usually peak of cycle or beginning?

 

[Alex P Keaton]

Properties are definately sitting for longer on the bottom end.

Not in the areas I'm keeping an eye on!!

Dianella Yokine and surrounds (under $400) are flying out the door!!