What a piece of crap. Look at how narrow the bedrooms are and those tattered red tiles in the bathroom..The entire house needs to be demolished and rebuilt to fetch double price in 5 yrs
Frankston North
- Thread starter Bayside
- Start date
What a piece of crap. Look at how narrow the bedrooms are and those tattered red tiles in the bathroom..The entire house needs to be demolished and rebuilt to fetch double price in 5 yrs
You mean house prices went up significantly over the course of one week?
I think you may be right, some real fibro dumps do keep the median price down.
Don't be put off by the fact that most agents are unreliable and are poor on customer service. As all listings are advertised online these days, there's no need to physically meet the agents unless you want to. I suggest scouting around domain and realestate.com.au first. Go for cheap, rentable houses on dual occ blocks (ie. more than 600sqm). Personally I would not buy anything else. Call the agent/s after you have organized your finances and are ready to make an offer.
Be aware that agents are wary of tyre kickers. Offers with a million itty-bitty conditions (eg "letterbox to be repainted, lawns to be mowed, antenna to be fixed") may not even be presented. That is just how things are with most agents, there's no point getting stressed about it. Other than the usual blurb about termites, the only condition I sometimes put on my offers is: "all appliances and plumbing to be in working order and the house to be in a fit and proper state to rent." More than once I've put in a cash offer with no conditions whatsoever.
Persist and you may get lucky and find a cheapie. If you cannot find anything that suits, don't overlook Frankston and non-beachside Seaford - you can occasionally find value there as well. The low-cost end of Frankston is sometimes cheaper than the expensive side of North Frankston
What a piece of crap. Look at how narrow the bedrooms are and those tattered red tiles in the bathroom..The entire house needs to be demolished and rebuilt to fetch double price in 5 yrs
Seriously, do you expect the vendors to give you the house for free? Get real. You cannot buy a house in third world countries like China or India for $285,000 let alone one on a dual occ block! If you don't have the money or the guts to have a go, resign yourself to renting - we need people like you to help pay our mortgages.
Frankston North is a small suburb. It has a 2 high schools and 3 primary schools (I believe the Coptic school goes from prep to yr 12, though i Maybe wrong). As the area is smalll, there won't be anymore schools built I believe. 2 high schools and 2 primary schools are plenty Also there are schools in nearby suburbs.
As for parks, I believe there's works going on at the Telopea Reserve. (Near my IP so I'm happy).
This property went for $270k at auction. http://www.realestate.com.au/property-house-vic-frankston+north-106745556
Frankston North has potential and I believe it's reputation is worse than reality, so there are some bargins there. However I'm not expecting any major short term gains (wouldn't be surprised if there's negative growth) as Melbourne has had a good run and I believe Melbourne property prices will be stagnat for a while.
As for parks, I believe there's works going on at the Telopea Reserve. (Near my IP so I'm happy).
This property went for $270k at auction. http://www.realestate.com.au/property-house-vic-frankston+north-106745556
Frankston North has potential and I believe it's reputation is worse than reality, so there are some bargins there. However I'm not expecting any major short term gains (wouldn't be surprised if there's negative growth) as Melbourne has had a good run and I believe Melbourne property prices will be stagnat for a while.
I'm not bullish at all on the Melbourne property market for the short term. Actually I'm quite bearish about it. If you are looking at a long term investment, Frankston has potential (though I'm not as bullish as many about it's long term prospect as it's so far away from the city).
However for the short term, I think Melbourne properties will do nothing spectacular. Saw an article which showed Melbourne now has the lowest rental returns of all capital cities. Rents are going to have to increase by a bit before Melbourne property goes up again.
http://www.htw.com.au/Month_in_Review/Month-in-Review-September-2010.pdf
This report is a little negative on Frankston North's short to medium term prospects.
This report is a little negative on Frankston North's short to medium term prospects.
I don't particularly know what to make of it, there's way too many opinions, I'm not an "expert". I'm in it for the longer term anyhow with potential to develop my block.
Last month Frankston and Seaford had negative growth according to the HS and now according to this report they've got more potential for immediate growth. I believe, from what I've been hearing on TV, they're really stamping down on the trash that lives in Frankston and surrounding areas so it should be good for all and sundry.
I beg to differ. North Frankston is booming and it's getting increasingly hard to get a bargain. Frankston, on the other hand, a much larger suburb, has gone a bit quiet - more bargains to be found there IMHO.
Aspendale, Edithvale, Chelsea, Carrum, Patterson Lakes & Seaford are all changing so quickly I think it's having a flow on effect in the area of Frankston North. It's almost impossible for young couples and beginner investers to buy something under $500k in these areas so for $300k Frankston North really is a jewl surrounded by infrastructure and beach and it will continue to change.
Thanks everyone for your advice! I will surely keep my eyes on realestate and domain until I find a little gem of my own. Hopefully I dont have to wait too long. I should probably go see my bank as I havent really spoken to them about how much I can actually borrow!
Thanks again.
Oh one more question. I know, or remembered that candlebark cres and Rosemary cres are streets to avoid as they have commission homes there, but are there any other streets which should be avoided? How about Monterey bvd? I've seen a few houses on sale either on this street or close by for pretty cheap prices. I was also told not to buy in the 'pines' section of frankston. Can someone please tell me where the 'pines' section is?
Thanks
Thanks again.
Oh one more question. I know, or remembered that candlebark cres and Rosemary cres are streets to avoid as they have commission homes there, but are there any other streets which should be avoided? How about Monterey bvd? I've seen a few houses on sale either on this street or close by for pretty cheap prices. I was also told not to buy in the 'pines' section of frankston. Can someone please tell me where the 'pines' section is?
Thanks
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All of Frankston North zone is the old 'Pines'. Don't be scared off by the old stigma. My place has gone up $80-$100k in 2yrs.
My "in laws" live in this very st & I don't recall any horror stories last 10 years, although you gotta watch those retirees!
My "in laws" live in this very st & I don't recall any horror stories last 10 years, although you gotta watch those retirees!
ha ha!! You just never know with those retirees!
I guess people are still abit scared of the 'pines' because of the commission homes. Frankston north is more affordable to me than Frankston. I just hope its not like Noble Park and Keysborough, where Keysborough has gone up in price, but Noble Park is lagging behind.
Thanks for the advice!
Seems to be a number of 3br properties coming onto the market for around $320k.
Prices most definitely on the rise!
Prices most definitely on the rise!
Asking prices for properties in Frankston North seem to be rising, thus at a lower rate than before. What I'm noticing is that more properties are now available to buy than 6 months ago. Stock seems to be moving slower. I'm also noticing that prices are being reduced on properties after a few weeks on the market. Six months ago this wasn't happening.
In the short term I don't expect Frankston North prices to rise much, however it should do better than most of Melbourne. So I don't believe prices are defintly on the rise in the pines.
However the rental market in Frankston North seems to be holding up pretty well. As long as the rental market is strong, I wouldn't be too worries if property isn't selling quickly. It'll pick up again. As soon as there is a glut of rental propeties available for rent, then I'll be worried.
In the short term I don't expect Frankston North prices to rise much, however it should do better than most of Melbourne. So I don't believe prices are defintly on the rise in the pines.
However the rental market in Frankston North seems to be holding up pretty well. As long as the rental market is strong, I wouldn't be too worries if property isn't selling quickly. It'll pick up again. As soon as there is a glut of rental propeties available for rent, then I'll be worried.
I'm interested in people's opinions on the best main street of Frankston North. From my observation I rank them in this order.
Forest Drive
Excelsior Drive
Moreton St
Monterey Bvd
Rosemary Cres
Anyone got a different opinion?
Forest Drive
Excelsior Drive
Moreton St
Monterey Bvd
Rosemary Cres
Anyone got a different opinion?
