Elizabeth Downs -Hot lead for low cost Mortgagee Sale
- Thread starter Stangman
- Start date
Cracks are not in all homes and it is certainly not limited to Elizabeth.
We are on Bay of Biscay soil which moves, especially in hot, dry weather.
Many homes around Adelaide were built with solid brick up to the mid seventies and these are the houses with cracks in the walls. I went to my mothers house at Valley View last week and was amazed at the cracks which appeared in her home after our long,hot,dry summer.
That is why most builders changed to brick veneer construction in the mid seventies.
I repaired many cracks in the walls of the solid brick house we bought at Elizabeth Vale. Thankfully they have not returned.
Moral of the story - buy brick veneer homes where possible due to less maintenance requirements.
Speaking of which - for the life of me i do not understand why 2 homes in my own suburb have not sold. Both are brick veneer built in the mid to late seventies. One is already tenanted at i think about $245 per week. Price on each is listed at 190 - 195 K. I will not put a link up. Just look at Ballard St Elizabeth East on realestate.com
Oh... Buy at Davoren park at your peril.
Stangman.
We are on Bay of Biscay soil which moves, especially in hot, dry weather.
Many homes around Adelaide were built with solid brick up to the mid seventies and these are the houses with cracks in the walls. I went to my mothers house at Valley View last week and was amazed at the cracks which appeared in her home after our long,hot,dry summer.
That is why most builders changed to brick veneer construction in the mid seventies.
I repaired many cracks in the walls of the solid brick house we bought at Elizabeth Vale. Thankfully they have not returned.
Moral of the story - buy brick veneer homes where possible due to less maintenance requirements.
Speaking of which - for the life of me i do not understand why 2 homes in my own suburb have not sold. Both are brick veneer built in the mid to late seventies. One is already tenanted at i think about $245 per week. Price on each is listed at 190 - 195 K. I will not put a link up. Just look at Ballard St Elizabeth East on realestate.com
Oh... Buy at Davoren park at your peril.
Stangman.
Well... Davoren Park is a bit like that, but most areas are OK
LoneWolf, i have known Ballard st for over 20 years and in my opinion it is a good street.
There are now 4 houses for sale in the street. Three around the 190k mark and No.23 is listed at 210-219k.
The tenants in No.13 are a good, quiet, young couple who maintain the house quite well. At 190K that is extreme value buying.
No.31 is now vacant, has an ensuite and carport. Looks quite good from the outside.
No.44 is new on the market as is No.23. Do not know anything about them.
If you check local prices you will find they have dropped from around 230-240k to the current prices of 190k.
Bare in mind these are newer brick veneer homes built in the mid seventies, yet are priced at the same or less than the older solid brick homes. These homes on Ballard are much better value buying in my opinion.
And no, i have absolutely no financial interest in any of these properties.
Stangman.
LoneWolf, i have known Ballard st for over 20 years and in my opinion it is a good street.
There are now 4 houses for sale in the street. Three around the 190k mark and No.23 is listed at 210-219k.
The tenants in No.13 are a good, quiet, young couple who maintain the house quite well. At 190K that is extreme value buying.
No.31 is now vacant, has an ensuite and carport. Looks quite good from the outside.
No.44 is new on the market as is No.23. Do not know anything about them.
If you check local prices you will find they have dropped from around 230-240k to the current prices of 190k.
Bare in mind these are newer brick veneer homes built in the mid seventies, yet are priced at the same or less than the older solid brick homes. These homes on Ballard are much better value buying in my opinion.
And no, i have absolutely no financial interest in any of these properties.
Stangman.
No.13 is one of the more radical designs of the era by the SAHT with the raked ceilings and exposed beams in the loungeroom.
Still, i do not believe the photos do the house justice. They must have been taken at the height of summer.
We were friends with the original owners Matt and Tracy. They were very houseproud and spent a lot of money on the place, especially the kitchen.
When they sold up it was purchased by a young family who lived there for a year or so before he joined the armed forces and was posted interstate. Then it became a rental property which worried us at the time, but the tenants are quite houseproud themselves and do look after the place.
I think the problem they have had with selling it was the neighbours on the LHS. That was a bit of an eyesore with long grass and an old car body under the carport but thankfully the car is now gone and the lawns are mowed.
Link to property -
http://www.realestate.com.au/property-house-sa-elizabeth+east-113019731
The other one i am surprised about is no.31 down the bottom of the street. It had been rented out to tenants who did not maintain it well. I have seen people there a few times lately cleaning the place up and they have it looking quite presentable now.
Link
http://www.realestate.com.au/property-house-sa-elizabeth+east-111974827
Things may be looking up for real estate in the area. A chap at work is selling a renovated property at Elizabeth Park. They have had open inspections every weekend and until last weekend they were only seeing a couple of people at each open. Last weekend they had 12 couples through - a big improvement.
Stangman.
Still, i do not believe the photos do the house justice. They must have been taken at the height of summer.
We were friends with the original owners Matt and Tracy. They were very houseproud and spent a lot of money on the place, especially the kitchen.
When they sold up it was purchased by a young family who lived there for a year or so before he joined the armed forces and was posted interstate. Then it became a rental property which worried us at the time, but the tenants are quite houseproud themselves and do look after the place.
I think the problem they have had with selling it was the neighbours on the LHS. That was a bit of an eyesore with long grass and an old car body under the carport but thankfully the car is now gone and the lawns are mowed.
Link to property -
http://www.realestate.com.au/property-house-sa-elizabeth+east-113019731
The other one i am surprised about is no.31 down the bottom of the street. It had been rented out to tenants who did not maintain it well. I have seen people there a few times lately cleaning the place up and they have it looking quite presentable now.
Link
http://www.realestate.com.au/property-house-sa-elizabeth+east-111974827
Things may be looking up for real estate in the area. A chap at work is selling a renovated property at Elizabeth Park. They have had open inspections every weekend and until last weekend they were only seeing a couple of people at each open. Last weekend they had 12 couples through - a big improvement.
Stangman.
I inspected #31 a few months back, and I agree that LoneWolf's comments are pretty much on the money. The place certainly needed some time and money spent on it. I no longer have the notes I had written when I was there, but suffice to say it needed a good paint throughout and a number of other things repaired or replaced.
For someone local who doesn't mind getting their hands dirty for several weekends, it may not work out too bad an investment, provided you can get maybe $10k knocked off the asking price, but for someone living interstate like me, for what needed doing, it just didn't make financial sense.
For someone local who doesn't mind getting their hands dirty for several weekends, it may not work out too bad an investment, provided you can get maybe $10k knocked off the asking price, but for someone living interstate like me, for what needed doing, it just didn't make financial sense.
Anyone here worried about northern suburbs home values with everything going on Holden's recently?
The latest news of reducing the wages could just be a bluff to make more people take the redundancy package they wanted 400 workers to take but either way it's not good for the northern suburbs.
I have thought about it abit. If they were to close down the cheap houses in Elizabeth ($150-200k) wouldn't fall to much in value because rental yeild would keep them at about the same level but I think more expensive homes in surrounding suburbs (hillbank, blakeveiw) would drop a bit...
Thoughts?
The latest news of reducing the wages could just be a bluff to make more people take the redundancy package they wanted 400 workers to take but either way it's not good for the northern suburbs.
I have thought about it abit. If they were to close down the cheap houses in Elizabeth ($150-200k) wouldn't fall to much in value because rental yeild would keep them at about the same level but I think more expensive homes in surrounding suburbs (hillbank, blakeveiw) would drop a bit...
Thoughts?
Not particularly worried, Holdens has been hemorrhaging a large number of jobs for years, whilst prices have only gone up. I have a number of ex-Holden clients, most seem to line up a new job prior to taking their sizeable redundancy packages (50-100k), then pay out their mortgages.
Ed. Parks is absorbing a huge amount of ex-Holden staff.
Ed. Parks is absorbing a huge amount of ex-Holden staff.
Clients of my that work at holdens say the same, they are expecting to be made redundant, alot are just waiting for it as they will get $50-100k and then find employment elsewhere.
I can't see it being a bad thing. As I've said previously, very few Holden employees actually live in the area. If anything there will be more demand for the Elizabeth Grove, South, East etc properties when we can no longer afford our houses in Craigmore etc. and move closer to the factory where rents are pretty much the cheapest in the metro area.
And for the record Cjay is right, I'm walking out of Holden with $60k and straight into the Coles Distribution Centre at ~$35/hr
And for the record Cjay is right, I'm walking out of Holden with $60k and straight into the Coles Distribution Centre at ~$35/hr
Had this conversation with someone who lived in the area for years just yesterday.
He seemed to think no significant difference on the area either.
He said lots of places have wound down, moved or closed, while others opened, expanded, etc. in the area over the years, but because they're not Holdens most people never hear about them.
A place like Geelong might feel a Ford shutdown but I feel Elizabeth as part of the wider Adelaide region wouldn't be disadvantaged as they have good road access to much of the metropolitan area.
Those with a good track record and work ethic would be waiting for a payout knowing they'd eventually find employment elsewhere.
He seemed to think no significant difference on the area either.
He said lots of places have wound down, moved or closed, while others opened, expanded, etc. in the area over the years, but because they're not Holdens most people never hear about them.
A place like Geelong might feel a Ford shutdown but I feel Elizabeth as part of the wider Adelaide region wouldn't be disadvantaged as they have good road access to much of the metropolitan area.
Those with a good track record and work ethic would be waiting for a payout knowing they'd eventually find employment elsewhere.
