Bad photos = Bargain for buyers

Hey guys!

Just wanted to share this. When buyers ask me for advice on how to grab a ?bargain? or good price in this market, I always tell them to look out for bad photos or the lack of. This is the perfect example of it:
http://www.realestate.com.au/property-unit-nsw-parramatta-118783511

This market has all kinds of shocks! I just can?t believe what a shitty and shortcut job this agent did, good on the buyer but the seller lost out on a minimum of $100,000, MINIMUM!!!!!
:eek:
 
Anythings possible. Put together a clueless agent + bad photos and the vendor always loses out.

But that's around the price you would pay for a 2 bedroom. It's a decent complex security wise only thing is that the ground floor units there don't normally get much lighting. Massive courtyard too.

They are called Realty professional though so I may be wrong..
 
So if an apartment price $400,000 and rental income is $395 p/w - it would be a bargain for the investor?


Hey Genia,

I am comparing to what has been selling in the current market in the area, which was more than a 100k difference
 
Its a good price. 3 bedders are really hard to come by in Parramatta and this one has many more features than usual, 2 bath and 2 car and a very substantial courtyard (about 50sqm whereas the Jan one has less than 12sqm outdoor space).

Throw in the fact the market has really moved since January...
I'll advise my colleague on this sale because she's been looking to buy for months and it might have been just about perfect for her (and honestly, great buy for the purchaser). Ps. The property I have in West Ryde I bought in 2011 had absolutely crap photos too and the internet ad was written newspaper style... (i.e. use as few words as possible).... it was sold through agents who are primarily rental agents and vendor was living interstate... they priced it completely wrongly and should've sold for about 50k (about 15% more) easily. I jumped on it because it has a lot of potential and my previous tenants lived in the complex and I was confident it was a great buy!
 
Absolutely no natural light in this unit whatsoever. Should've done the open home at night lol 550k for a 3 bedder is normal when its smaller, ground level, no light and probably moderately high strata. I passed on a similar one late last year as a PPOR. Was around 500k mark and in better condition and 3 bedder.
 
Price seems fair... don't think it would have sold for $100k more if it had better photos.

http://www.realestate.com.au/property-apartment-nsw-parramatta-118782955
Same block, 3 bedder as well with courtyard too.
Sold in Jan for $550k.

Bad photos don't make much of a difference in this current market in my opinion.

What makes a bargain is a vendor who has annoyed the agent, resulting in the agent no longer giving a crap and simply wanting to move the stock.

100% about the agent not giving a crap. But also the market has had a MASSIVE jump since January. Each to their own, but in my opinion ( and yes I can be wrong) The market in Parra had a big shift like most areas in Sydney. There was a big jump in Jan, April and now its just getting higher and higher. I don't find properties that sold in December or January comparable to those selling now. We can definitely compare them and bring them up but that's not really what is happening right now. Also , a lot of people get put off by bad marketing. I love bad marketing, if I am a buyer. I''ll take that as an opportunity
 
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