Buy my house? PLEASE!

Thanks Scott - based on that, it would be approx $2400 plus the cost of one internal door, plus the cost of the carpet to be taken up and re-laid to suit. Window, lights and power are already sorted.

Alexlee - That's a fair comment, but at the end of the day, unless you build yourself, what's the likelihood of finding a house that is 100% what you're looking for? Whether it be new or old? If I found a place that was 99% there already and was relatively easy to make the last 1%, then I'd rather go for that than potentially wait an eternity for the 100%'er, or be faced further down the line with a 90%'er because I cant wait any longer to buy.

Cheers.
 
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Alexlee - That's a fair comment, but at the end of the day, unless you build yourself, what's the likelihood of finding a house that is 100% what you're looking for? Whether it be new or old? If I found a place that was 99% there already and was relatively easy to make the last 1%, then I'd rather go for that than potentially wait an eternity for the 100%'er, or be faced further down the line with a 90%'er because I cant wait any longer to buy.
But your place is new in what sounds like a new estate, which means there are likely similar places with different floorplans nearby as well? My question as a buyer is, here is a new place that is nice but has 1 less bedroom than I want. Is there a house nearby that is also new and has that extra bedroom? In an area with lots of new homes, you have more competition. If it was, say, a renovated Federation house or something like that, it's more unique.

There's nothing that's 100% in my opinion, simply because my tastes and wants change. However, I have different expectations when looking at new and old homes. With new, I don't want to have to do anything to it. With old, I'm willing to accept that I have to do work now or further down the line (because it's cheaper than new, or in a better area, etc).

I'm hearing a lot of 'owner occupier' emotions, about what you would do, and what you think about the house, about what price you're willing to accept based on what sold around the corner 6 months ago. Is that such a good idea when you're trying to sell and you're on a timetable?
 
But your place is new in what sounds like a new estate, which means there are likely similar places with different floorplans nearby as well? My question as a buyer is, here is a new place that is nice but has 1 less bedroom than I want. Is there a house nearby that is also new and has that extra bedroom? In an area with lots of new homes, you have more competition. If it was, say, a renovated Federation house or something like that, it's more unique.

There's nothing that's 100% in my opinion, simply because my tastes and wants change. However, I have different expectations when looking at new and old homes. With new, I don't want to have to do anything to it. With old, I'm willing to accept that I have to do work now or further down the line (because it's cheaper than new, or in a better area, etc).

I'm hearing a lot of 'owner occupier' emotions, about what you would do, and what you think about the house, about what price you're willing to accept based on what sold around the corner 6 months ago. Is that such a good idea when you're trying to sell and you're on a timetable?
I know what you are say about owner/occupier emotions - yes, I'm defiantly guilty of that, sorry.

As I said though, our house is a little out of the ordinary. There are only two of them on the entire estate - one is ours, the other one is the one that sold 6 months ago. There isn't the option of waiting for the same house with a different floor plan to come along as there aren't any. It's the kid of house that most people would love or hate. Most people love it, unfortunately all the people we know that love it aren't looking to buy right now.

As to whether basing our bottom line on a similar house selling 6 months ago being a good idea or not, it is what it is. If we cant get that, we can't move, it's that simple. Put yourself in our shoes, if you'd had 4 agents tell you the house was worth $650 to $700, and you had a similar house go round the corner for $625k on smaller block with less quality fixtures, would it not be a fair assumption that you could use that to base your situation on for moving forward on the next property?

If the agents had said to us four weeks ago that the market has cooled, we reckon you might get $600-$625 then we'd have used $600 as a base and made our offer on the new place accordingly. That offer would have been unlikely to have left the desk of the vendors agent and we wouldn't be in the position we're in now.

If you can't gauge a house value based on sales of similar properties and appraisals from agents, what else are you supposed to do?

There will be a buyer out there for ours, but unfortunately in the current circumstance we just don't have the luxury of time to wait for them, nor the luxury of being able to sell for below market value.

What will be will be.
 
I know what you are say about owner/occupier emotions - yes, I'm defiantly guilty of that, sorry.
It was meant to be your house so I can understand the emotions. Nothing to be sorry about, but I just don't think it helps you sell the place. For example, are people noticing that your house is out of the ordinary, and are they willing to pay more for it or leaves an impression? Or is it just because you know you put in extras? But are those extras things other people value?

As to whether basing our bottom line on a similar house selling 6 months ago being a good idea or not, it is what it is. If we cant get that, we can't move, it's that simple. Put yourself in our shoes, if you'd had 4 agents tell you the house was worth $650 to $700, and you had a similar house go round the corner for $625k on smaller block with less quality fixtures, would it not be a fair assumption that you could use that to base your situation on for moving forward on the next property?
I would use it as an estimate, of course. But you also have to look at the reality of the market. If the market has boomed in the last 6 months, you would ask for more. But if the market is quiet, and you need to sell, that's a different situation. That similar house might have happened to find a buyer who fell in love with the property. You can well say you're waiting for that, but do you have that much time to wait? Listings usually don't age well.

If the agents had said to us four weeks ago that the market has cooled, we reckon you might get $600-$625 then we'd have used $600 as a base and made our offer on the new place accordingly. That offer would have been unlikely to have left the desk of the vendors agent and we wouldn't be in the position we're in now.
I wouldn't put that much faith in agents' estimates, since they tend to quote high. With the property on the market, you're seeing how warm or cool the market is, and you can adjust accordingly.

If you can't gauge a house value based on sales of similar properties and appraisals from agents, what else are you supposed to do?
Get an actual bank valuation.

There will be a buyer out there for ours, but unfortunately in the current circumstance we just don't have the luxury of time to wait for them, nor the luxury of being able to sell for below market value.
In which case, what's plan B?

What will be will be.
I really don't think fatalism is all that useful either. How about getting a bank valuation and see how it stacks up against the agents estimates?
 
Are you able to crash the contract on the new place with minimal costs?
The contract is subject to finance with our bank, our bank will only finance on the sale of our house. If our house doesn't sell before the finance clause runs out, there's no finance.
 
Hi all….

Shameless plug time I’m afraid.

Is anyone looking for something $625k+ range in outer south east Melbourne?

We’re selling up as we’ve bought some acreage. Unfortunatly, we’re on a tight time line with the acreage contract and we can’t afford to keep out house and purchase the new one.

We’re fast catching up to the finance clause deadline, so effectively we’re almost out of time and we’re about to miss out on our ‘dream’ property.

About ours:-

9 months old, no expense spared 2 storeys on the Chase Estate, Berwick. Upgraded EVERYTHING, including double glazing throughout.

Rental appraisal at minimum $500 a week, depreciation estimated at $15k in the first year.

Very low maintenance house and extremely well appointed.

Chase Estate properties showing decent CG over the last couple of years and with the proposed new ‘Century 21 Business Park and Clyde North precinct development on the cards, CG over the next few years looks very promising.

Quite aside from an investment point of view, it’s a fantastic home and one we’ll be sad to leave. If anyone happens to be looking for a new PPR at the moment around this area, then you’d be hard pressed to find better.

We never anticipated moving on sp quickly, hence why we went a bit overboard on the build of this one.

Anyway, we had 3 valuations by local RE’s. One pitched it at $680-$700k, one pitched it at $650-680 and the third pitched at $650+

At this stage, faced with the prospect of losing out on the new place, we’ll go straight to our bottom line if anyone is seriously interested.

So, could be a potential bargain here for someone.

Here’s the link to the current ad on RE.com

http://www.realestate.com.au/property-house-vic-berwick-106560833?rsf=emailalert-propdetails

Apologies if you’re not allowed to advertise on here, hence why I put it in the coffee lounge. Mods – please delete this post of I have broken any rules.

Thanks for looking, and see you at the open inspection on Saturday?

T.

It should sell fast if what I have heard is correct, in that melbourne homes are selling for more than asking price, or has this changed, I thought buyers were lining up down there?.

My advise is if you really want to sell don`t muck around, drop it to 600k, sooner rather than later.
 
Hi all….

Shameless plug time I’m afraid.

Is anyone looking for something $625k+ range in outer south east Melbourne?

We’re selling up as we’ve bought some acreage. Unfortunatly, we’re on a tight time line with the acreage contract and we can’t afford to keep out house and purchase the new one.

We’re fast catching up to the finance clause deadline, so effectively we’re almost out of time and we’re about to miss out on our ‘dream’ property.

About ours:-

9 months old, no expense spared 2 storeys on the Chase Estate, Berwick. Upgraded EVERYTHING, including double glazing throughout.

Rental appraisal at minimum $500 a week, depreciation estimated at $15k in the first year.

Very low maintenance house and extremely well appointed.

Chase Estate properties showing decent CG over the last couple of years and with the proposed new ‘Century 21 Business Park and Clyde North precinct development on the cards, CG over the next few years looks very promising.

Quite aside from an investment point of view, it’s a fantastic home and one we’ll be sad to leave. If anyone happens to be looking for a new PPR at the moment around this area, then you’d be hard pressed to find better.

We never anticipated moving on sp quickly, hence why we went a bit overboard on the build of this one.

Anyway, we had 3 valuations by local RE’s. One pitched it at $680-$700k, one pitched it at $650-680 and the third pitched at $650+

At this stage, faced with the prospect of losing out on the new place, we’ll go straight to our bottom line if anyone is seriously interested.

So, could be a potential bargain here for someone.

Here’s the link to the current ad on RE.com

http://www.realestate.com.au/property-house-vic-berwick-106560833?rsf=emailalert-propdetails

Apologies if you’re not allowed to advertise on here, hence why I put it in the coffee lounge. Mods – please delete this post of I have broken any rules.

Thanks for looking, and see you at the open inspection on Saturday?

T.
Another thing, never plead for buyers and never look anxious no matter what you will get nothing but lowballed, buyers will start to look at all the reasons not to buy it.
 
It should sell fast if what I have heard is correct, in that melbourne homes are selling for more than asking price, or has this changed, I thought buyers were lining up down there?.
If was in an established area close-ish to melb for $650k it would walk out the door and they would be lined up, selling in a newish estate is a different story.

If you want a big and new home to live in fair enough but people who buy house and land packages as investment properties in new estates to save on stamp duty and for more depreciation r crazy IMO, this is a perfect example of that.
 
we had 3 valuations by local RE’s. One pitched it at $680-$700k, one pitched it at $650-680 and the third pitched at $650+

No you didn't have 3 valuations done. You've had 3 verbals and pitches by people not qualified nor authorised to write valuations.


If the agents had said to us four weeks ago that the market has cooled, we reckon you might get $600-$625 then we'd have used $600 as a base

Sounds like you are like most people Tony, and have absolutely no clue what your asset is worth, and are relying totally on what agents tell you. Unfortunately, when you read the contract of engagement between yourself and the agency - have you done this - they specifically exclude you from relying on them, and you warrant that you have made your own investigations as to what the value of the property is. Their solicitor has been down this track many times, and you haven't....so guess who goes for a ride ??


What will be will be.

This is almost as nonsensical as the ludicrous "it is what it is" saying, and to me, indicates that you have relinquished all responsibility and control over the matter, and popped it in the lap of someone who is not authorised.

Don't worry or fret - this is all quite normal for the average person.
 
Bigtone – it’s wasn't a house and land package and wasn't for investment, we built what we wanted at the time, for us, not for anyone else. We just didn’t reckon on moving on so soon, so it’s a perfect example of your first point – wanting a big new home to live in.

Dazz - the 'what will be will be' remarks are by no means a cop out of responsibility. If we find a buyer that will pay what we need in order to move on, then great. If we don't, then we’ll decide what path we'll take next. We'd be disappointed, but it's far from life-or-death.

For information, we had a bank valuation done, (or rather the bank had one done), when we re-financed the week we moved into the house, which was now 9 ½ months ago. The valuer was at the house for about 45 minutes, checked every nook and cranny and took away full sets of plans and specs. The valuation company, sorry can’t recall the name, organized by MECU Credit Union valued the house at $590k back then. That was with no floor coverings, no window coverings, no drive laid, no fencing and absolutely no landscaping what-so-ever – not even a scraped off leveled yard front or back and all the neighboring properties were still in progress, so the immediate area was a bit of a mess at the time.

I’m not sitting here trying to justify what we want to sell our house for, at the end of the day we have a figure we need to sell for in order to move on. Whether it’s too high, too low, bank valued, RE valued, whatever – that’s just what it is. All things considered, taking into account the RE’s guesstimates, the banks valuation and the sale of a similar property, if we couldn’t achieve at least $625 for it we’d rather keep it.

Dazz, I appreciate you taking the time to comment, but do you really need to be quite so condescending?
 
Wish you well with selling for what you need.

Looked at the RE.com ad, and personally, I don't read the ads that don't have and address or price. Could this be hindering the amount of people coming thru?

Good luck anyway.
 
I also think you need to price the property to draw people in, otherwise you immediately rule out a chunck of the market that won't bother enquiring.

Also, by pricing it 'reasonably' you draw in even more people, and when you have a time frame to sell this is important.

In this case if people think there is interest, and if the place is as nice as it appears to be, someone may well offer more than the asking price.

At the end of the day however, the more people that view it and give an indication of price, the more evident it's true market value will be to you.

I really don't think you are disadvantaging yourself by doing this, but you don't have the luxury of time on your side anyway.
 
Bigtone – it’s wasn't a house and land package and wasn't for investment, we built what we wanted at the time, for us, not for anyone else. We just didn’t reckon on moving on so soon, so it’s a perfect example of your first point – wanting a big new home to live in.
I realize that, i was saying that is fair enough building in these new estates if you want a big new home to live. The point i was making is the price and demand for newish homes 1-10 years after completion in these estates can be disappointing so I can't understand why people do house and land packages in these areas as investment and your inability to sell was an an example of why i wouldn't do a new build in a newish estate, i realize that the investment situation does not apply to you, just making a point about these estates.

Cheers

BT
 
Bigtone - sorry mate, I didn't mean to come across arsey, I'd just read your post as reading as though we'd built it for investment.

I agree with all that have said put a price on. We originally had it listed as "suit buyers over $650", after 3 open days the agent suggested making it offers. I wasn't convinced, but he's been in the game a long time so we went with it. We had 5 couples round this Saturday from the re-ad with offers listed. No offer yet though! I'm going to ask him to revise the ad this week to add back in a price. What are peoples thoughts on how to pitch it? It works very differnt in the UK where I'm from. All this 'suit buyers over', '650 plus', '625 to 650' etc is just damned confusing. Based on what we spent and where the bank and agents pitched it, we'd have been stoked with a sale around $650k. We'd be happy with $635k and we need as a minimum to move on $625k, so what would be a good way to pitch? A simple $620+ ?? Maybe even $615+ with a hope we can talk any offers up to the $625 range?

Cheers.
 
Forget all that $625+ etc, nobody believes all the cr*p anyway. Once a number has been put forward such as that, then that number is what the buyers think it is listed for.

Don't be confusing, if you need to sell quickly whack a price on it, say $650000 and see what offers come in. Nobody offers $650000 to begin with.

Best of luck.
 
I agree with brrmm. I also think $625K + means $625K so I would list a little higher than you need, and let them haggle you down to what you are happy to accept.

Good luck.
 
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