Frankston prices increased???

bobbiemenzies said:
Being stuffed around by agents is normal in Frankston.
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Being stuffed around by agents is normal EVERYWHERE bobbiemenzies.

You know how to play the game after a while, do your own DD. Once you realise that the selling agent is acting for the vendor, not the purchaser, you'll be way in front - but I'm sure you already know that. :p
 
Propertunity said:
Being stuffed around by agents is normal EVERYWHERE bobbiemenzies.

You know how to play the game after a while, do your own DD. Once you realise that the selling agent is acting for the vendor, not the purchaser, you'll be way in front - but I'm sure you already know that. :p
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ditto..

No point bagging the agents. Just use them to get the best deal and move on to the next one...

Harris
 
goodluck

Propertunity said:
Once you realise that the selling agent is acting for the vendor, not the purchaser, you'll be way in front - but I'm sure you already know that. :p
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There are many elderly people in Frankston who were duped into selling their houses for well below their true worth during the panic of last year. This is not something I made up - this story was covered by one of the local papers in Frankston. One granny was told her house was worth $150k when its true worth was close to twice that. Luckily she didn't accept the cash offer presented to her.

Agents do NOT act for anyone other than themselves. Many agents, including several I socialize with, privately tell me that they'd prefer Frankston prices to be on the cheap side as "cheaper houses turn over faster mate, and we make our bread and butter from fast sales."

Harris said:
ditto..No point bagging the agents. Just use them to get the best deal and move on to the next one...Harris
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Don't forget that you will have to deal with these same slippery twits when you decide to sell in a few years time! Be blind at your own peril. Cosying up to dishonest rabble in the hope they will do the right thing by you is nearsighted. Good luck if you think it will work.
 
Frankston is a great investment destination. But if you are buying/selling in Frankston/Seaford, you need to be aware about some of the practices of local agents. This video, from another state, is how many local real estate agents operate. Be prepared, so you don't get hurt:

http://www.realtytube.com.au/play.php?vid=24
http://www.somersoft.com/forums/show...722#post592722

Aside from these negatives, get in there and hunt down those cheap deals. It will be worth it in the long run.

toony said:
Go talk to the mongrel agents you keep banging on about. Arent you saying that they undersell what they are really worth? Why ask us?
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Ah so you admit your links to agents, if you aren't one yourself?! I have friends who are agents too. Some are nice, but most cannot be trusted.
 
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bobbiemenzies said:
Ah so you admit your links to agents, if you aren't one yourself?! I have friends who are agents too. Some are nice, but most cannot be trusted.
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Bobbie. I have nothing to do with agents. I am an IT contractor with an accounting background. I live in Aspendale. I grew up in Mentone and the family moved to Frankston after I completed university. Mum, my sister and brother all live in different homes in Frankston. I have two townhouses bought in Sth Frankston in 1999. I use Crowders Wentworth as my property managers. I have not changed, but their services have deteriorated with every merger.
I would live in the Frankston area, but I find the commute to the city is too much.
I have been posting my positive comments on Frankston for a very long time.
I also invest in the Mentone to Edithvale area.

I just find it annoying that you consider the agents of Frankston any different to the agents of other areas. I consider what Jenman says about agents to have alot of merit. (Dont pay for advertising and auctions are more often not good for sellers).
 
2 auctions in frankston on the weekend,

BOTH passed in, is this a sign that things will/have already slowed down with a significant reduction of the FHOG and talk of a definite rates rise as soon as next month?

just for the record, I would like to see prices drop/stabilise so that I can purchase an IP as Im not quite ready immediately, (but im not a D&G er)
 
No, this is not the sign for anything.. you cant read anything when 24 properties were sold privately successfully and only 2 auction properties failed to sell.

Frankston has never been an auction-suburb and has on average 25 Private Sales to 1 Auction.

Inner & Middle suburbs are auction suburbs with more than 80% of the prop going to auction.

People in Frankston simply do not respond to auction and wait to negotiate at the end under a private treaty.

Unanimous commentary on property values suggest that values are on their way north in months to come so while you might prefer to wait, there is much more stronger likelihood that you will be paying more by waiting than by buying now (just my opinion).

Harris

Property Meister said:
2 auctions in frankston on the weekend,

BOTH passed in, is this a sign that things will/have already slowed down with a significant reduction of the FHOG and talk of a definite rates rise as soon as next month?

just for the record, I would like to see prices drop/stabilise so that I can purchase an IP as Im not quite ready immediately, (but im not a D&G er)
Click to expand...
 
Harris said:
People in Frankston simply do not respond to auction and wait to negotiate at the end under a private treaty.

Unanimous commentary on property values suggest that values are on their way north in months to come so while you might prefer to wait, there is much more stronger likelihood that you will be paying more by waiting than by buying now (just my opinion).

Harris
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We recently sold our reno property and just bought another on Saturday, now that the fever pitch has calmed a little.

I've seen more properties coming on the market in the last week or two only, prior to that, bugger-all for sale of any interest, and prices skyhigh, for what you get.

Less then a year ago, Frankston had lots of houses listed at $249 (approx) but recently, these same ones are listed at $289, and most are selling.

As of now, I do sense a little caution with buyers (and slowing of the market) but prices in and around Frankston will only go up I believe.

I personally wouldn't be waiting....
 
true true!
Harris said:
No, this is not the sign for anything.. you cant read anything when 24 properties were sold privately successfully and only 2 auction properties failed to sell.

Frankston has never been an auction-suburb and has on average 25 Private Sales to 1 Auction.

Inner & Middle suburbs are auction suburbs with more than 80% of the prop going to auction.

People in Frankston simply do not respond to auction and wait to negotiate at the end under a private treaty.

Unanimous commentary on property values suggest that values are on their way north in months to come so while you might prefer to wait, there is much more stronger likelihood that you will be paying more by waiting than by buying now (just my opinion).

Harris
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I personally don't understand the Carrum Downs bashing. I bought a unit this year in Jan and have lived there ever since and I find it fine. I am a single woman living alone and don't feel unduley worried.
Yeah there are a few savoury characters here and there but the community overall is trying really hard to have a better image and improvements are going on.
We are even getting our own police station now that they are building on Ballarto Road.

My intention is to only stay here for a few years and then buy a PPOR somewhere, with this little unit becoming an IP and I am already rubbing my hands.
 
Even though the median for Frankston is at an all time high, relative to the greater Melb area, its still cheap. I guess the Marina approval hasn't sunk in yet.
Prices may pickup more once construction actually starts.
 
I was talking to a BA who was involved in a recent sale in Frankston a property overlooking the bay area sold for $900,000. Does anyone know which property this was, I am just curious whether this was highest price ever for the area?

Cheers, MTR
 
I went down to Frankston today just to go to a few viewings, no particularly intending to buy and ended up with my second IP, a 2-bed unit for $325K. It is immaculate and in a nice road almost in Frankston South - no potential to improve or subdivide but it should be a nice trouble-free investment that I hope grows over time.

The agent was playing the make your best offer now as you may not get another chance game which makes it hard to know what to offer. When he phoned to say mine had been accepted he said that another viewer (who came into his office as I left) had offered the same (perhaps they always say this so you're not left wondering whether you paid too much) but with a lot more conditions. I was willing to go for a 30-day settlement but the vendor wants 90 - no problem: I wasn't agreeable to 60 as this would have made the property mine just before Christmas, probably to stand empty for a month.

I'd be interested in opinions on this one which I also looked at http://www.domain.com.au/Public/PropertyDetails.aspx?adid=2007950889 - lots of house but a very small courtyard with the freeway over the back fence. Currently let at $250, though agent says $270-280 would be the market rate. Again a buy and forget property.
 
I'm not a fan of units.

Having said that here's my opinion of the pictures I have seen of the link you provided.

Generally looks nice, especially bathroom, however kitchen seems very small.

Would need to see it to see how close to freeway it is, but not a fan of properties being very close to freeways.

Overall I have seen better properties in Frankston for a similar price. Be interested to see the property that you have bought. Congragulations on the purchase.
 
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