Auction TV show last night

W

WebBoard

Guest
From: Colin Mills


Who saw that TV show last night? They showed you how their reno experts tarted up some old dump at Dulwich Hill in Sydney last year and then they showed you the place being auctioned live on TV last night. What a fizzer! Passed in at $505k with just 3 bidders. Considering all the publicity this televised auction would have generated it was a real letdown. Obviously the producers and LJ Hooker picked that property because they assumed it was in a hot suburb most likely to arouse maximum interest. Looks to me like the sizzle has gone out of the market.
Mind you, when I clapped eyes on the vendor I knew it would not sell. Typical 40 something divorcee. Lets just say, because this is a family site, I've had a lot of experience (and I do mean experience) with 40 something divorcees.
Most are bitter and think they have been hard done by and that life is unfair. They believe that gives them the right to be aggressive and to go out and get what rightfully belongs to them. And if that includes an above market price on their house then they will! Although I despise agents I do sympathize with the ones who have such twisted clients.
 
Last edited by a moderator:
Reply: 1
From: Owen .


I saw the show and wasn't surprised the vendor didn't sell.

My spin on it is if I had a TV show come to my house with a huge team of tradesman, spend $10k on fixing my bathroom, completing my kitchen and fixing up the garden and veranda, I'd have no intention of selling either. I'd look all forlorn on TV and be all smiles once the cameras had left. Thank-you Channel 7.


Owen

"Gambling promises the poor what property performs for the rich – something for nothing"
 
Last edited by a moderator:
Reply: 1.1
From: Michael Croft


Firstly I must state that I didn't see the program as I don't watch television. But obviously the experts weren't or aren't as claimed (expert = drip under pressure). Some properties will not benefit from a reno no matter how good. The trick is knowing which ones will, how or what to do with the property and when to do it.

Michael Croft
 
Last edited by a moderator:
W

WebBoard

Guest
Reply: 2
From: Choon NG


I have watched the show, and seems that there is not really any climate. They must improve the format a little (eg. getting the owner to commit to a sale price, and not just walk away ????) if the show is to attract a following.

I am wondering if the audience actually heard the valuation by the agent ie $470,000 -> $500,000 ?

choon
 
Last edited by a moderator:
A

Anonymous

Guest
Reply: 2.1
From: Anonymous


Sorry for the anonymous post but I thought it was prudent this time. I just got a bit of info about the details of the show.

Apparently, there were dummy bidders in the room (surprise, surprise) and I saw them bid until quite late in the proceedings. I don't know if the Channel 7 knew or if the agents or the auctioneer put them there.

The other bit was the reserve was very unrealistic and was well above the final bid. There was no way a reserve like that was going to met for a house in Dulwich Hill. Why it was set that high by the vendor is not known.

Did she want to sell it or not or had she been pumped by the show or the agents? Who knows.
 
Last edited by a moderator:
W

WebBoard

Guest
Reply: 2.1.1
From: Tibor Berenyi


Michael,

"Some properties will not benefit from a reno no matter how good. The trick is knowing which ones will, how or what to do with the property and when to do it."

I was wondering if you might be able to expand on this. I am considering a buy, reno and hold strategy and this being on my first IP would appreciate some advice from someone who has more than I do - experience. Thanks.

Tibor.
 
Last edited by a moderator:
Reply: 2.1.1.1
From: Michael Croft


Hi Tibor,

I realised after I wrote it that it sounded condescending or worse, like spam - sorry.

It's a long topic and I will post on it when I have a bit of time. Like any performance driven criteria (as opposed to prescriptive)they take a fair bit to explain and they often change in response to the market and individual. It's a bit like trying to determine which is the 'best' property to buy.

As they say "I'll get back to you".

Michael Croft
 
Last edited by a moderator:

Sim

Administrator
Reply: 2.1.1.1.1
From: Sim' Hampel


On 2/16/02 6:43:00 AM, Michael Croft wrote:
>
>I realised after I wrote it that it
>sounded condescending or worse, like
>spam - sorry.

I didn't feel that way at all about your comment Michael.

Looking forward to your explanation !

sim.gif
 
Last edited:
W

WebBoard

Guest
Reply: 2.1.1.1.1.1
From: Tibor Berenyi


Ta MC.

Tibor
 
Last edited by a moderator:
Top