Elizabeth Downs -Hot lead for low cost Mortgagee Sale

[Murphy69]

Never heard of them.

BTW in regards to the 10% quote before, it is not THAT shocking considering that you are talking a low-end property, so the agent isn't taken much dollar-wise. Consider this with the hassle for the area, its premium you pay.

I do know of property managers charging around 8% though full service iirc for normal stock.

I also know of property managers who charge 4%, but that's for properties in Medindie and Toorak Gardens!

I agree. 9% sounds a lot, but for a low end property its not much. I imagine if you are getting peanuts for managing a low end property, the amount of attention you can afford to give it is minimal.

I'd rather pay 9% and get it managed properly and get a better tenant and service than save $25 a month to get a property manager who has to take on so many more properties to make it worth his while that he can't give my property any attention.

Of course, this assumes that you get decent service for the extra couple of percent.

I find it one of the ironies of the property management fee structure that the properties that are probably the easiest to manage (once let) are probably the ones that you pay the most for in terms of the management fee.

Whereas the lower end properties generate far less revenue for the agent, but probably cause far more work.

Murphy

 

[Cherry Pro]

Thanks Bullfrog for all those contacts, will call them up and organise. Much appreciated.

Cheers
Amelia

 

[Anon_]

Okay lads, need recommendations for best/cheapest (but still reliable) place to get 2x split air cons. I've heard a couple of good things about Polyaire in Gepps Cross and their Derby split systems, but anyone else I should check out? Going to go up there for a drive and source things out over the next couple of days.

Settlement Friday.

 

[JWR]

HN Scratch N Dent

Get me a dishwasher whilst you are there Bosch budget model please

 

[Cherry Pro]

Also, while you guys are at it, what's the best place for an upright electrical stove / oven - seconds will suit.

Thanks

 

[mmmggg]

Strangman - SA law states noone except the government is to put Electric hot water systems in. Some conditions except you but on the whole everyone has to choose another hot water system.

 

[Stangman]

Strangman - SA law states noone except the government is to put Electric hot water systems in. Some conditions except you but on the whole everyone has to choose another hot water system.

mmmggg, Well... It seems you are correct. I had no idea about these stupid new laws. A quick Google search and here they are -
http://www.sa.gov.au/subject/Water,...andards/Residential+water+heater+requirements

Some more info from Dux -
http://www.dux.com.au/p/sa-rebates

Of course the rebates are only for the low income earners, bludgers, etc

So what is the cheaper option? Have LPG at the house in Millicent, with an instant hot water unit - maybe that is an option in Elizabeth because we do not have mains natural gas in most areas.

Well folks - If you are considering buying in Elizabeth, best you allow for a new very expensive hot water system in your calculations. The hot water tanks generally last about 8 years around here before they start leaking.

Bloody .gov ******s with nothing better to do than dream up more ways to part us from our hard earned money.

Stangman.

 

[Anon_]

... Had my settlement last Friday and now own 2 Elizabeth South properties. Would like to thank everyone for their help. Currently have a few plumbing issues at the moment but should all be sorted before my new tenants move in Friday!

I'm also being interviewed by the newspaper on Friday about my buy, so let me know if you want me to do a shout out to anyone here.

 

[Stangman]

Hi Anon_, Congratulations to you. Well done.

Tennants moving in already - you do not mess around.

Guess you have already found a plumber? Had an excellent experience with a plumber just last Friday. The house at the Vale had a mini fountain coming up through the ground near the tree trunk out the front. Rang Ken Hall Plumbers at 2.30PM Friday. Receptionist took details then told me they could have a plumber there between 2.30 and 4PM. I figured she meant Monday.... But no, she meant today. Same day!
Plumber arrived about 3PM, had the problem solved and left just on 5pm. That is fantastic service!

What is this about being interviewed by the paper? Which one? Please let us know so that we can read all about it.

Rocket.

 

[Anon_]

Yeah I wanted to try to get people in straight away and found a really good property manager who looks to have found some good tenants. Inspections had fairly good turnouts considering the short notice. Everything is in good nick so did not need any work. Actually where I thought I needed to do some work, Housing SA fixed up before the settlement. Went for low rent at $200 but with an increase when we get the Air Con put in. Plumber issues is all being handled by Housing SA and paid for by them because it was a condition on the contract.

Paper was a bit of a surprise - Actually it's the messenger. Received a call who said they got my details from my property manager. Apparently Eliz has seen a big increase in buyers of late and now one of the most popular areas, so bit of an interview on why I chose this area and how I found the buying process etc.. Not really sure what to expect from it.

 

[Corey Batt]

Great work Anon. I'm a fan of getting in tenants ASAP aswell.

Wouldn't mind getting an article myself, was going to contact the Messenger in regards to seeing what possibilities were available.

You wouldn't be able to PM the Messenger contacts details at all would you?

 

[julie]

adelaide is overpriced and vendors unrealistic

18 Cr was on the market for ages.

I just returned from Adelaide and despite the fact it must be the most boring place on God's good earth I found the property prices are ridiculous. The villas in Glenelg are $450k. They cost that in Ramsgate in Sydney. Tell em they're dreaming. The houses (Adelaide does have lovely houses) are all over $500k. Now I should say that I grew up in Adelaide and know the place pretty well and anyone who would buy property in Elizabeth needs to understand it is cheap for a reason. In all seriousness the market there is very over priced and I believe needs a 20percent fall to be even close to its actual value. I have put in offers on a few places and the vendors just won't budge. Even the agents I spoke to said I was right and they are finding it frustrating. If you want to buy there then hang off a bit as I think reality might hit in a year or so. Although Adelaide has never dealt with reality very well.

There were about 10 properties he was selling before xmas - i put lowball offers on all.

All rejected and he was very rude about it - fine - but he's not getting my business in the future! He was just looking out for his client - also fine - but doesn't get me my bargains! I need the fat/lazy/unethical ones!!!

18 Hornet cr was number 2 on my list of best buys out of the 10

21 twyford was my number 1

Why the best - biggest land for cheapest price.

But I wanted them lower than asking (not that the asking price wasn't well worth it - but I like paying way under value.)

So I was hoping Hornet Cr would stay for a while longer and drop more (it started at 145 then 140 then 135 - and stayed for a month at 135 until sold last w/e for I assume 135)

I just bought 2 properties there - better than yours (no offence) but work needing to be done - so depends on one's pespective which is better.

Will post once everything is 100% (after valuation done and unconditionally approved)

Will be coming to Adelaide soon - maybe you can show me around? Need a good discount whitegoods factory!!! And discount building materials too!

I hope my attempt to warn people about Adelaide is useful.

 

[Stangman]

Julie, Yes.... You are probably correct. Adelaide is a ***** of a place.

Better sell up here cause houses are too dear.

Can you please recommend an area in Metropolitan Sydney where i can buy a semi detached house for under 150k?
LOL:

Seriously, It depends on the area. Houses can be bought in any price range between 105k - 2million or so in Adelaide.

Must say i had the misfortune to be driving through Sydney on the way to Newcastle a few weeks back. Had a road rage with one of the many discourteous, rude, arrogant drivers that we came across. Thought Adelaide drivers were bad ( they are ), but what a nightmare experience it was for us.

What is your beef with Adelaide anyway?

Stangman.

 

[julie]

Adelaide is overpriced and I love sydney

Julie, Yes.... You are probably correct. Adelaide is a ***** of a place.

Better sell up here cause houses are too dear.

Can you please recommend an area in Metropolitan Sydney where i can buy a semi detached house for under 150k?
LOL:

Seriously, It depends on the area. Houses can be bought in any price range between 105k - 2million or so in Adelaide.

Must say i had the misfortune to be driving through Sydney on the way to Newcastle a few weeks back. Had a road rage with one of the many discourteous, rude, arrogant drivers that we came across. Thought Adelaide drivers were bad ( they are ), but what a nightmare experience it was for us.

What is your beef with Adelaide anyway?

Stangman.

Your response is my beef. why do Adelaidians have such a chip on their shoulders about Sydney and melbourne. It's pathetic. I was simply saying that Adelaide prices seem very steep. They have had huge increases over the last five years and I would be very wary of buying there atm. The houses in Adelaide are lovely but if I had half a million I would buy in Sydney for capital gain. Of course you can not buy anything in Sydney for $150k so buy in the horror suburbs of Adelaide if you want but I just wouldn't want the potential agravation of creepy tenants for what would probably be a dubious chance of any capital gain. Maybe think about it.
I have lived in four of Australia's cities and I find Sydney drivers the most skilled (we have to be) but I am sorry you had a road rage as they are scary. I was also the victim of P platers overtaking me on the incorrect side on the Pacific Hwy once and it is terrifying. But could you please explain the concept of merging to drivers in Adelaide as they seem to be less than courteous about letting a motorist into a lane and could they please understand that the idea is to indicate before you change lanes not after. Lighten up. I couldn't help but think recently that the only people who do not like adelaide are the people that live there as there were few people out and about supporting local business people.. And forget Glenelg - send tourists to Port Adelaide. Enjoy.

 

[Corey Batt]

That's fine Julie. Everyone has a difference of opinion.

People put their money where their mouths are and live with their decisions.

More houses for me.

 

[weg]

That's fine Julie. Everyone has a difference of opinion.

People put their money where their mouths are and live with their decisions.

More houses for me.

CJay, just want to add here that I think your assessment of Elizabeth and surrounds is pretty spot on.

I also think long term it's a great place to invest (even if I personally don't want to delve into semi territory ).

The price drop experienced there recently is all part of the price drops we're seeing in many places (both SA and nationally), and not because those suburbs in particular were overpriced to start with.

 

[Anon_]

Enjoy.

Obviously you have a bias for some reason because everything you wrote is utter crap. And I too have lived in Adelaide, Melbourne, Sydney and Toowoomba and find Adelaide is by far the most pleasant to live in with the most affordable (and reasonable) housing considering the market. From my experience, Sydney drivers are the worst and most dangerous. But unlike you, I'm not categorising Sydney as a whole due to an experience in the poorer outer burbs.

 

[Stangman]

Your response is my beef. why do Adelaidians have such a chip on their shoulders about Sydney and melbourne. It's pathetic. I was simply saying that Adelaide prices seem very steep. They have had huge increases over the last five years and I would be very wary of buying there atm. The houses in Adelaide are lovely but if I had half a million I would buy in Sydney for capital gain. Of course you can not buy anything in Sydney for $150k so buy in the horror suburbs of Adelaide if you want but I just wouldn't want the potential agravation of creepy tenants for what would probably be a dubious chance of any capital gain. Maybe think about it.
I have lived in four of Australia's cities and I find Sydney drivers the most skilled (we have to be) but I am sorry you had a road rage as they are scary. I was also the victim of P platers overtaking me on the incorrect side on the Pacific Hwy once and it is terrifying. But could you please explain the concept of merging to drivers in Adelaide as they seem to be less than courteous about letting a motorist into a lane and could they please understand that the idea is to indicate before you change lanes not after. Lighten up. I couldn't help but think recently that the only people who do not like adelaide are the people that live there as there were few people out and about supporting local business people.. And forget Glenelg - send tourists to Port Adelaide. Enjoy.

Hi Julie, My post was a bit tongue in cheek.

For the most part, we do not have a chip on our shoulder about Sydney or Melbourne. In fact i am originally from Melbourne and like to visit often. Have had many good times in Sydney too.

Every city has its fair share of crappy drivers. I can tell that you have indeed been to Adelaide and agree that indicators seem to be optional here, as well as right hand lane hogs everywhere.

Your main criticism appears to be that you think Adelaide real estate is overpriced. Totally agree with you! But did you come here expecting to find a house at Glenelg for 200K?
IMO the reason that real estate increased in price so much here and in Tasmania is the internet. Investors who were looking for bargains that could not be had in Sydney or Melbourne began buying in droves and pushed up the prices so much that there is now not that big a difference.

If you are looking for bargains in SA then check out the South East - Mt Gambier, Millicent, Naracoorte and maybe over the border in Portland.

Thanks for your reply. Have enjoyed the exchange.

Stangman.

 

[Stangman]

Obviously you have a bias for some reason because everything you wrote is utter crap. And I too have lived in Adelaide, Melbourne, Sydney and Toowoomba and find Adelaide is by far the most pleasant to live in with the most affordable (and reasonable) housing. From my experience, Sydney drivers are the worst and most dangerous. But unlike you, I'm not categorising Sydney as a whole due to an experience in the poorly outer burbs.

Hey Anon_, I guess that Sydney is so congested with traffic, they need to push in to get anywhere quickly. Like their freeway systems though, as it makes it so much faster to get through the suburbs.
Big contrast to Adelaide traffic. Here they plod along at 60 in a 80 zone hogging the right hand lane. Guess you would soon get used to the Sydney traffic.

Stangman.

 

[Stangman]

Hmmm.... Interesting



One for the locals to check out -

http://www.realestate.com.au/property-house-sa-elizabeth+vale-110319721

The above property is going to Auction Friday May 18th at 2pm.

Do not recall seeing the price guide of 150k when i first read the ad a couple of days ago. Maybe just the real estate agents trying to drum up plenty of interest? Cannot see this being sold for much under 200k, unless there are some major cracks in the building!

Good size corner block of 954 sqm, with frontages of 38m and 33m, so probably will be sold to a developer. Good location right near the hospital too.

Still, might be worth somebody checking it out in case it does go at a bargain price.

Stangman.