Frankston North Auction

Auctions seem to be pretty rare down Frankston way but there's one coming up on 7 November in Frankston North. It might be of interest to owners here to see what sort of enthusiasm an auction draws to the area. Quoted at 260+ at 15 WIRILDA CRESCENT which seems to be 'in the enclave'.
 
Auctions seem to be pretty rare down Frankston way but there's one coming up on 7 November in Frankston North. It might be of interest to owners here to see what sort of enthusiasm an auction draws to the area. Quoted at 260+ at 15 WIRILDA CRESCENT which seems to be 'in the enclave'.

The most expensive house for sale in Frankston North has been sold for, i'm told, $315k. According to the selling agent's office: "there's not much for sale here, houses are in short supply mate. Forget about dual-occs, nobody's selling em. Gimme your number and I will call you if something comes up."

http://www.realestate.com.au/cgi-bi...r=&cc=&c=25974559&s=vic&snf=rbs&tm=1257440793

The cheapest house for sale (if it isn't a case of bait advertising) is for "up to $245k." Rang the agent to make a bid but they seem slack in returning calls so I'm guessing this is a bait advert and the house is already sold or maybe even belongs to a helpful mate of the agents. The agents don't even list their mobile numbers on the advert.....losers.

http://www.realestate.com.au/cgi-bin/rsearch?
a=o&id=106081396&f=0&p=10&t=res&ty=&fmt=&header=&cc=&c=25974559&s=vic&snf=rbs&tm=1257440793
 
I looked at that Excelsior drive property when checking the area, referred by the agent at inspection. I wonder why it hasn't been grabbed yet. Seems solid enough. Perhaps as you say a 'bait'. I'll be interested indeed to see auction results on Saturday.
 
Which Excelsior Drive property are you referring to? I haven't seen any bait advertising on any Excelsior Drive property. The only Excelsior drive property I see that is for sale and it doesn't seem to have been sold is the one below. I went to the open inspection for that property so I'm pretty confident that it is for sale.

http://www.realestate.com.au/cgi-bi...t=&header=&cc=&c=63432029&s=vic&tm=1257479657


If people are going to accuse real estate agents of bait selling, can they at least provide some evidence of this. I don't believe I have seen any bait advertising since I've been following property in the Pines and I have been following it pretty closely for a year.
 
The most expensive house for sale in Frankston North has been sold for, i'm told, $315k. According to the selling agent's office: "there's not much for sale here, houses are in short supply mate. Forget about dual-occs, nobody's selling em. Gimme your number and I will call you if something comes up."

http://www.realestate.com.au/cgi-bi...r=&cc=&c=25974559&s=vic&snf=rbs&tm=1257440793

The cheapest house for sale (if it isn't a case of bait advertising) is for "up to $245k." Rang the agent to make a bid but they seem slack in returning calls so I'm guessing this is a bait advert and the house is already sold or maybe even belongs to a helpful mate of the agents. The agents don't even list their mobile numbers on the advert.....losers.

http://www.realestate.com.au/cgi-bin/rsearch?
a=o&id=106081396&f=0&p=10&t=res&ty=&fmt=&header=&cc=&c=25974559&s=vic&snf=rbs&tm=1257440793


Why do you hate real estate agents so much? Why should they list there mobile numbers in the public domain?
 
Hey guys :)

I've been meaning to update my last post on the Frankston thread, which is burying itself down there somewhere.

I last stated that property didn't seem to be moving much for the past year and it didn't.. But all of the sudden I can hardly find a listing for anything under $280,000, whereas there were pages upon pages full of listings a few weeks ago.

So there you go, things are certainly on the up.
 
comparables

Every now and again I plug in at r.e.com.au the type of properties closest to what we have in Frangers, to get an idea of how it's travelling for value.

Ours is a 2 x 1 villa unit in a block of 10 in central Frangers with a single lock up garage and a courtyard.

We paid $150k in 2003 for ours. It now rents for $190 p/w. So, not earth shattering, but for those who are starting out, and your budget requires a smaller, cheaper buy; you could do worse than these sorts of places.

Here are the latest similar ones;

http://www.realestate.com.au/cgi-bi...t=&header=&cc=&c=71748796&s=vic&tm=1257537595

Ours is in Hope crt, the very next street, and looks similar.

Now, there was one sold in our court earlier this year for $205k, so assuming this one sells soon and for somewhere near it's asking price, then the market has definitely moved up a bit.

If you go down to the bottom of the listing and look at the "Local Sales" examples, look at the one for 4/19 Cranbourne rd, which is similar to ours as well. I don't think Cranbourne rd is that good a place to be; good proximity to everything, but on a main rd.

The one on MacMahon's rd is literally 20 metres from the trainline, right across the road from Deakin Uni and Bunnings. There is a big turnover of buyers and tenants for this complex, based on the signs on the fence I always see. I go past it every other week. It's a terrible spot - right on the busiest rd in Frangers and the trains, and definitely not Frangers North, or Central, and it sold for $210k. I love it!!

You could probably say confidently the area has gone up by at least 10% this year based on these examples. ;)
 
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Which Excelsior Drive property are you referring to? I haven't seen any bait advertising on any Excelsior Drive property. The only Excelsior drive property I see that is for sale and it doesn't seem to have been sold is the one below. I went to the open inspection for that property so I'm pretty confident that it is for sale.

http://www.realestate.com.au/cgi-bi...t=&header=&cc=&c=63432029&s=vic&tm=1257479657

I'm not sure which "astute investors" referred to in the ad will be falling over themselves for this property. Why would you buy an ex-commission house with a 3200 postcode for $289k when you could buy a 3 bedder in Frankston for the same price? I'm not saying that Frankston Nth is a bad area for investment, but it's all comparative. Just did a quiick search and found this one on a good size block in Karingal:
http://www.realestate.com.au/cgi-bi...er=&cc=&c=4071748&s=vic&snf=rbs&tm=1257568416
I'm sure there are some better.
 
This was the one in the original post - 30 Excelsior Drive, Frankston North
Sold Thursday 22-Oct-09 . So obviously found a buyer. Don't know what it reached but from memory the quoted price was reasonable.

The more I investigate property the more interested I am in the 'psychology' of the property market. Indeed, why is one property worth more than another when looking purely at bricks and mortar they are almost identical materials value. If I knew that I'd be down at RAMS first thing Monday!
 
I'm not sure which "astute investors" referred to in the ad will be falling over themselves for this property. Why would you buy an ex-commission house with a 3200 postcode for $289k when you could buy a 3 bedder in Frankston for the same price? I'm not saying that Frankston Nth is a bad area for investment, but it's all comparative. Just did a quiick search and found this one on a good size block in Karingal:
http://www.realestate.com.au/cgi-bi...er=&cc=&c=4071748&s=vic&snf=rbs&tm=1257568416
I'm sure there are some better.



(a) I think Frankston North is in a better position than Karringal. I believe a similar property in Frankston North will be worth more than a Karingal one.
(b) The link to Karingal, even though close in price are still probably seeking more than the Frankston North property. I think the Frankston North property could be had for around $270,000 (my estimate in following the frankston north market, how they are advertised and how long it has been on the market)
(c) from the photos, the Frankston North property looks nicer than the Karignal property that was shown in the photo.
(d) the property at 30 Excelsior Drive sold for about $271,000 I think.

On other note, I try to follow the rental market in Frankston North as this does effect prices. My understanding of it is are that many houses are getting rented for $250 a week. So is the average house going for about $250 a week in Frankston North at the moment? Do people think rent in Frankston North will increase in the next year?
 
You're deluded if you think that agents use "bait" as well as spending half their time trying to cook up some half baked plot to snare buyers and sellers alike.

Maybe if they don't return calls it's because they're trained to spend most of their time sourcing new listings at the expense of servicing buyers; the theory being that most properties "well listed" sell reasonably quickly. It's not a great mentality, but prevalent in the industry and to an extent somewhat understandable. The right balance is to not forsake buyers and agents with P.A's will usually be better equipped in this regard.

Or maybe they don't return calls because they've become familiar with some of you and ...
 
Or maybe they don't return calls because they've become familiar with some of you and ...

Ah I see agents are starting to frequent these threads.

Really good attitude not to post mobile numbers on adverts and not return calls.

http://www.realestate.com.au/cgi-bi...r=&cc=&c=25974559&s=vic&snf=rbs&tm=1257440793

Sell em low, sell em fast, that's how agents operate when they can.......great for buyers, terrible for sellers.

I'm a buyer now but shudder to think of the crap I will have to deal with when I someday have to sell.
 
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Why do you keep returning to that link? Did you want to buy it?

If you want to buy a property in Frankston North why don't you contact the agents every time a property is on the market? If the agent doesn't call you back, call them back.

I don't know why you are so against agents in the Frankston area. Would love to hear the whole story of what they did to you or someone you know.

Something about an old lady.
 
sell em low, sell em fast.

What an ignorant statement.

As an agent, don't you care why people are upset with industry participants like you?

If you want to buy a property in Frankston North why don't you contact the agents every time a property is on the market? If the agent doesn't call you back, call them back. Something about an old lady.

1. I'm not an old lady.
2. I do call agents. Some don't give out their mobile numbers on adverts and don't even bother calling back when I leave my number. The receptionists are often rude.

I wonder how sellers feel about the "professional" attitude of their sales agents. The attitude seems to be: sell em low, sell em fast, sell em to your mates on the cheap........then resell em a few months later on the open market for a profit. Happens all the time, I saw it on TV.

I want to buy in Frankston/NFrankston but I don't trust agents. I have a huge dilemma. What will it be like in years to come when I want to sell? Will they persist with the attitudes described herein.
 
Why should agents advertise there mobile number?

Every real estate agent probably knows who you are so they don't return your calls. I seem to be able to talk to the Frankston agents pretty easily when I call them.

I'm sure there's agent everywhere where people don't return there calls.

If you want to buy in Frankston/Frankston North than buy. Don't make excuses about agents for not buying.
 
As an agent, don't you care why people are upset with industry participants like you?



I wonder how sellers feel about the "professional" attitude of their sales agents. The attitude seems to be: sell em low, sell em fast, sell em to your mates on the cheap........then resell em a few months later on the open market for a profit. Happens all the time, I saw it on TV.


Give me one possible or even remote example where this has happened in the last 5 years in the Frankston area.

Your like the boy who cries wolf. You cry wolf so much that no one believes a thing you say, even if there is a wolf.
 
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