Are they kidding 2770

[datto]

Is that the block behind the shops ? I think that sold for around 200 a few years ago. Multi unit development block , but no ones been game to build on it

Cliff

Yep, that sounds like it. If you're interested in buying:

http://www.realestate.com.au/property-residential+land-nsw-lethbridge+park-200479811

Might be worth it in a few years time. I think a group of investors bought it probally 10 years ago for about 500K. Not 100% sure, maybe someone on this forum knows more.

Look, here's the old shops before they burnt down. On the left of the photo you can see someone sitting in the gutter with a flagon. Good ol' Letho!

http://www.realestate.com.au/property-residential+land-nsw-lethbridge+park-200479811

 

[see_change]

Update on this

Rang and had a chat about this property .( not interested , just curious )

Response ,
yes , it's going well , we've had an offer of 350 , between ( 320 -350 ) , .

It's a really good property with approval for granny flat .... Where are you from ?

Will be interesting to see what it sells for ......

Cliff

 

[scha9799]

If that sold, all the Rope cross's properties will be around 800,000 to 1M !

Even with a granny flat , I am doubt it will be valued more than $350,000.

 

[scha9799]

the fact the agent ask you "where are you from" is a critical question for the pricing

if you are from western sydney your price is $180,000 - $250,000
if you are from east sydney your price is $350,000-$400,000
if you are from interstate or oversea your price is above $400,000

 

[MichaelW]

Hi Everyone,
I know prices are moving in 2770 which is great for some of us but found this latest listing surely these vendors have to be kidding themselves,who would pay that,if someone does I will put my properties on market asap.
http://yahoo.realestate.com.au/property-house-nsw-blackett-114552663

I reckon its a typo and they got the 4 and the 2 the wrong way around...

Cheers,
Michael

 

[MsAli]

I reckon its a typo and they got the 4 and the 2 the wrong way around...

Look at the irony:
- Approval to build a 2 bedroom granny flat (S.T.C.A.)

 

[datto]

Don't laugh, just up the road (cnr Manifold and Carlisle) one went for over 400K. You can't argue with the market!

http://www.realestate.com.au/property-house-nsw-blackett-113226167

 

[see_change]

I may be wrong , but I think this is just the beginning .

At least I hope . My LVR is on a steep upward curve at the moment ( not 2770 ...) .

Cliff

 

[DaveM]

Don't laugh, just up the road (cnr Manifold and Carlisle) one went for over 400K. You can't argue with the market!

http://www.realestate.com.au/property-house-nsw-blackett-113226167

I can see why that went for 400k+... its a prime buy for a small/first time developer with $ in their eyes. Could probably make some decent coin off it in a simple land subdivision... end value of building on it would be slim pickings though I expect.

 

[datto]

Could probably make some decent coin off it in a simple land subdivision... end value of building on it would be slim pickings though I expect.

What? make two lots of 585 sq m? Its too small for 3 lots. Council wont allow subdivision with lots less that450sq m (from memory)

Might be able to put 4 dwellings under one title and it will get good yield.

 

[scha9799]

Both of the agents are not local

 

[MichaelW]

I may be wrong , but I think this is just the beginning .

At least I hope . My LVR is on a steep upward curve at the moment ( not 2770 ...) .

Cliff

Hey Cliff,

Wouldn't that be a steep downward curve?

Unless you're ramping loans up faster than valuations!

Cheers,
Michael

 

[see_change]

Hey Cliff,

Wouldn't that be a steep downward curve?

Unless you're ramping loans up faster than valuations!

Cheers,
Michael

Valuations don't go up that much in two months . Loans can ....

Cliff

 

[monalisa]

Still sitting on the market!!

 

[sashatheman]

I saw this property, advertised around the mid 400k zone a couple of weeks ago and now they are asking for offers over 525k for a three bedder in Blacktown....
http://www.realestate.com.au/property-house-nsw-blacktown-115051179

 

[see_change]

I sometimes "hang out" at the Letho shops. They are all new and look much better than before. The chemist is great, nice and handy.

The new bottle shop/mixed business is also handy with friendly service.

If the DOH get rid of their units around there it will be a much better place. If that happens then that $1.5m parcel of land nearby might be worth $1.5m!

Had my first drive by Letho a couple of weeks ago . I was hoping to see a rejuvenated centre .......

Doesn't look much different to 25 years ago.

Cliff