Brisbane people .. Why is Mount Warren Park so cheap?

[moses]

I've just received pre approval for a home loan and have been looking around Brisbane

Areas of interest are: zillmere, Aspley, bracken ridge (all the obvious areas in the northside)..

I've also been looking around the southside - at areas such as windaroo and noticed that mount warren park which is same area, is drastically cheaper than windaroo

What's your advice if I'm considering getting a place in mount warren park?

I've got about 350k.

Is there better areas to look at or is it a decent area (safe, price possibly rise etx) ?

 

[Rolf Latham]

Coz Its loganish

Windaroo is mainly upmarket golf course estate......with flash houses

ta

rolf

 

[Heinz57]

Haven't been down that way for a while but parts of Beenleigh used to get a strong aroma at times from the Teys abbatoir

 

[moses]

Best I steer clear of it ?

 

[see_change]

Lots of people have made money in Logan .

We have .

Just need to know what you're getting into and make an informed decision .

Cliff

 

[Rolf Latham]

Best I steer clear of it ?

no, if you do your research you will likely do fine

I was just stating the fact that you cant compare adjacent burbs and areas to one another directly like Windaroo and MTWP.

I have clients with stock in MTWP and they seem to do no worse or better than surrounds


ta

rolf

 

[moses]

I appreciate that guys

I actually like the area from a personally stand point

Can anyone suggest ways I can do my 'research' - is there any obvious factors I should take into account?

One thing I noticed is that there are lots of properties available in the area.. In guessing this is a bad sign?

 

[moses]

http://www.realestate.com.au/property-house-qld-mount+warren+park-117425775

this is one im interested in..

given the fact that ive only got approx. $350 .. are negotiations usually frowned upon?

and what sort of negotiations have you done in the past?

thanks everyone

 

[Jamie_]

http://www.realestate.com.au/property-house-qld-mount+warren+park-117425775

this is one im interested in..

given the fact that ive only got approx. $350 .. are negotiations usually frowned upon?

and what sort of negotiations have you done in the past?

thanks everyone

Ofcourse they aren't, go in and offer 330 and see what they come back with. They may come back with 360 and then just counter at 340...all depends how long its been on the market and how desperate someone is. (note I have no idea about this area as to whether 370k is over priced)

 

[moses]

Ofcourse they aren't, go in and offer 330 and see what they come back with. They may come back with 360 and then just counter at 340...all depends how long its been on the market and how desperate someone is. (note I have no idea about this area as to whether 370k is over priced)

thats a good idea.. wasn't sure if low balling would be a good idea or not, but i guess ive got nothing to lose

and when making offers, is it as simple as just speaking to the real estate agent?

apologies for my rookie questions!

 

[RPI]

Moses

Offers are made on a fully signed contract. Also would advise to change your initial deposit date to 2 business days after contract date, keep your deposit really low, eg $1000 and then ad large deposit if needed as a balance deposit when contract is unconditional.

 

[mikezen]

http://www.realestate.com.au/property-house-qld-mount+warren+park-117425775

this is one im interested in..

given the fact that ive only got approx. $350 .. are negotiations usually frowned upon?

and what sort of negotiations have you done in the past?

thanks everyone

It's still quiet around here so go in low with offers,

These areas are the last to move around brisbane so remember that for capital growth.

Mt warren park is a nice area but you may Find faster
Growth further in

You may find better value in daisy park, but you will need to move fast

 

[C-mac]

I pickee up a townhouse in Zillmere a few months back. I don't regret the purchase and was pleased with the price. However, this area and surrounds has a mass of rental properties on the market. This means rental return is not so great right now. From what I can tell, low rental return is a challenge for several BCC areas/suburbs.

Just know what you are getting into and know that Realestate.com.au average rental rates might look good; agents' "Forecast" rental return might sound great, but the reality might be soberingly lower rents in some of these areas. That said; medium term CG I think looks quite good in these areas, but very much a slow burn.

 

[moses]

i appreciate all response and defintely good things to consider!

Will be making offers this week so will keep everyone updated!