Frankston investment
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Best property values according to Lomas 2010
hey Spider, its easy to take photos like that in many suburbs, I can assure you that I have seen a rank arena TV out the front of a Peppermint Grove house here in Perth which is probably worth $3 million. You represent an unbalanced and obviously mentally challenged view of IP strategies. I can't see why you post in this forum if you hate Frankston?
hey Spider, its easy to take photos like that in many suburbs, I can assure you that I have seen a rank arena TV out the front of a Peppermint Grove house here in Perth which is probably worth $3 million. You represent an unbalanced and obviously mentally challenged view of IP strategies. I can't see why you post in this forum if you hate Frankston?
Indeed, it is mandatory to own property in Frankston to post on this forum, didn't you know?
Indeed, it is mandatory to own property in Frankston to post on this forum, didn't you know?
Can anyone ever really own Frankston? Can you own the wind? A sunset? The glint in your lover's eye or the smile of a small child?
No.
It is enough to admire Frankston, if from afar. To muse on its delights. To consider its possibilities. To feel your inner being being uplifted simply by the regular repeating of its name.
Frankston.
Frankston.
But what is a name? That which we call Frankson by any other name would smell as sweet. Frankston is property, property Frankston - that is all you know on Somersoft, and all you need to know.
LOL. Tell me you didn't light the bonfire to keep Somersoftians away from those flats so you could buy them both.
No, the tenant in one of the downstairs units does that perfectly well, with his managing agent apparently a willing party. That big pile of rubbish in front of the unit has been there for weeks.
And what he can't do by himself has been done by the existing owners and the body corp who spent zero on mowing, pruning and maintenance for what looks like years.
Fair enough. But do you see the following in Peppy Grove?
1. T-shirt for sale. Takes pride of place in a boutique opposite the station.
2. Saturday shopping opposite MPRE/Harcourts Real Estate in main street. People were almost jostling to get a good spot by the bin. Elsewhere scavenging is considered somewhat shameful only to be furtively done at dusk, but not in Franga. And it's not because they're trying to be green, Brunswick style, either!
Still I don't mind the place, though most from other surburbs seem to disagree.
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Re Spidys photos etc
I still don't know why your on this crusade to "enlighten" people about Frankstons social situation. I don't get it? Anyone anywhere if they had the err energy to take photos like you do can take photos of hundreds of suburbs anywhere in Australia that will also highlight the negitive side. Here in Perth I can provide names of many with lower socio economic status: Balga, Mirrabooka, Bayswater, Armadale...the list goes on.
However as has been said thousands of times in these forums; Frankston has potential. The same potential that occured here in Perth where questionable suburbs such as East Perth and Cockburn that were treated as very undesirable years ago are now home to multi million dollar properties. They are now considered professional status areas.
It took government and private investment to revitalise these areas that had potential including location on the Swan river or Coogee beach.
I wonder where those negitive photos are now for these suburbs?
I still don't know why your on this crusade to "enlighten" people about Frankstons social situation. I don't get it? Anyone anywhere if they had the err energy to take photos like you do can take photos of hundreds of suburbs anywhere in Australia that will also highlight the negitive side. Here in Perth I can provide names of many with lower socio economic status: Balga, Mirrabooka, Bayswater, Armadale...the list goes on.
However as has been said thousands of times in these forums; Frankston has potential. The same potential that occured here in Perth where questionable suburbs such as East Perth and Cockburn that were treated as very undesirable years ago are now home to multi million dollar properties. They are now considered professional status areas.
It took government and private investment to revitalise these areas that had potential including location on the Swan river or Coogee beach.
I wonder where those negitive photos are now for these suburbs?
http://frankston-leader.whereilive.com.au/news/story/frankston-centre-of-attention/
http://frankston-leader.whereilive.com.au/news/story/frankston-centre-of-attention/
With a marina to come (eventually), things will take off in Frankston and perhaps the $200k gap in Melbourne's median house prices may soon be reduced.
http://frankston-leader.whereilive.com.au/news/story/frankston-centre-of-attention/
With a marina to come (eventually), things will take off in Frankston and perhaps the $200k gap in Melbourne's median house prices may soon be reduced.
^That will be great to see. Was supposed to be developed a few years ago by Jamie Durie & friends into luxe apartments. Unfortunately it never happened & I believe they sold the building on. It really is a monstrosity so I can't wait to see what they do with the facade. Of course, it's a big leap of faith by the developers. The area around it is absolutely appalling. I assume that council must have given some undertaking regarding the surroundings at street level so guests will feel OK walking out the front door. It needs to start somewhere.
Me too. Carrum Downs
Regards
Marty
I've already had it(Frankston South) and plenty more to come no doubt. Oooh yeah!
Hi Jingo,
Would you mind tell us which agent u had bad experience with? We're look at changing PM, message me may be? thanks Olive
Attended the auction of 9 Lewis St Frankston this morning. http://www.realestate.com.au/property-house-vic-frankston-106796083
Super-handy location but narrow (10m) block <500m2
Much better street appeal than inside and rear yard.
If the house is to be kept at all it would not be a reno for the faint hearted.
Attendance approx 20-30, some of whom grew up in or owned the house.
Only one bid ($200k), which is lower than the council's land valuation of $210k.
The agent then had several vendor bid conversations with himself and finished up at $280k (which is near the improved valuation on the rates notice).
No sold sign 30 min later.
Super-handy location but narrow (10m) block <500m2
Much better street appeal than inside and rear yard.
If the house is to be kept at all it would not be a reno for the faint hearted.
Attendance approx 20-30, some of whom grew up in or owned the house.
Only one bid ($200k), which is lower than the council's land valuation of $210k.
The agent then had several vendor bid conversations with himself and finished up at $280k (which is near the improved valuation on the rates notice).
No sold sign 30 min later.
Talk about imperfect markets!
The vendor is shooting himself in the foot by dealing with this mob. This is selling for almost $100k below the Frankston median. I called the agent, Paul Lewis, whose phone was answered by someone called Scott. Young Scotty seemed disinterested and did not bother to ask for my number or email address (as some of the more motivated ones do).
According to Scotty: "The vendor wants around $300k, we have some verbal offers close to that."
Thanks for sharing Spiderman. However, I disagree with you that the house needs pulling down. A superficial renovation will cost around $10,000 at the most, this will be more than enough to keep the house tenanted for another 5 years.
Anyone who grabs this deal is going to make quite a few bucks in a relatively short time. Pity my cash is tied up in a term deposit or I'd be in there.
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Can't you get your cash out of the term deposit for a small fee and get this house.
Let's say you can get it for 310k. If you think you can make a good profit out of it, don't let the small fee of getting your money out of the term deposit stop you.
Let's say you can get it for 310k. If you think you can make a good profit out of it, don't let the small fee of getting your money out of the term deposit stop you.
Interesting thread.
I wonder how vulnerable frankston is to interest rate rises.
Might be something to consider for those looking to acquire additional property in this suburb.
On a very long term view, i think of Frankston in a very positive light, at least compared to surrounding suburbs. (this on a housing basis, there is no way i would be interested in units/apartments/townhouses in frankston)
I wonder how vulnerable frankston is to interest rate rises.
Might be something to consider for those looking to acquire additional property in this suburb.
On a very long term view, i think of Frankston in a very positive light, at least compared to surrounding suburbs. (this on a housing basis, there is no way i would be interested in units/apartments/townhouses in frankston)
Heck no, such is the madness of the agents that I'm sure they will let it go for around $280k+ to a cash buyer who can settle soon ie within 45 days. The poor bugger vendor seems not to know that the median price for Frankston is around $370k.
My cash is tied up in term deposits and will not be sufficient, I'd still need a loan. Not enough time.
Whoever gets this should be able to make an instant capital gain. Mark my words, this will be worth at least $370k in 18 months, probably more if a proper reno is done.
