Grab a bargain in Sydney?

Discussion in 'Where to Buy' started by Nick Valsamis, 29th May, 2015.

  1. Nick Valsamis

    Nick Valsamis Vantedge

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    I know there would be some people on here that are on the lookout for bargains in Sydney.

    So i've found some properties that have potential... lets say that the advertising won't attract many buyers, which is evident in the amount of people viewing the listings. Any keen people can try contacting the listings below.

    Been on the market more than 1 week and only 81 page views.
    http://www.realestate.com.au/property-unit-nsw-granville-119809247

    Another one in Granville, 132 page views.
    http://www.realestate.com.au/property-apartment-nsw-granville-119807415

    One in Westmead as well, probably on or near Good St. 308 page views, could still have a chance.
    http://www.realestate.com.au/property-apartment-nsw-westmead-119603455

    View the rest of their properties (no open house inspections listed though):
    http://www.realestate.com.au/buy/by-ivyaie/list-1
     
  2. Gockie

    Gockie Life loving Big 4 Banker

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    Nice Nick. :) Buyer beware and all as half of them seem to be new/OTP im guessing unable to provide photos. Will pass onto a colleague... She's a person who only interested in excellently advertised properties and has been going nowhere in her search (can't say unlucky, cause it's not down to luck)...
     
  3. Nick Valsamis

    Nick Valsamis Vantedge

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    Yes most are off the plan, but the ones that aren't are worth a short at. Advertising is at kindergarten level so i'm sure they will only get a few offers who will all be low balling.
     
  4. spludgey

    spludgey Member

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    Not this year, no. If the economy has more of a downturn, it's possible that you'll start seeing some bargains next year, but more likely 2017.
    I'm not talking about a bubble bursting. But if prices drop 3% across the board, you might be able to find something at a 10%+ discount (long time one the market can make some people very negotiable).
     
  5. Gockie

    Gockie Life loving Big 4 Banker

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    Hey guys,
    My colleague emailled me back saying she bought something. Unbelievable! I haven't asked her about purchase price as yet, but she did end up buying something with nice pictures and probably didn't get a bargain.... anyway, not for me to interfere.

    Spludgey, I bet you didn't even look at what the OP had in his original post. His info is of value, if you did just take a moment to look....
     
  6. spludgey

    spludgey Member

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    You know me so well! ;)

    Now that I have, I still wouldn't buy any of them. Terrible advertising, yes, but in a market that's as hot as this, I'm guessing that those will sell quite well.
    Plus, I wouldn't be surprised if they advertised in Chinese newspapers or something like that as well.
    If your logo is in Chinese and all your agents are Chinese, it makes it obvious what demographic they're targeting.
     
  7. Nick Valsamis

    Nick Valsamis Vantedge

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    Lets be honest spludgey, you wouldn't consider Sydney at all.

    They will sell, but the potential of achieving a high price is much lower. Well advertised properties could get at least 4x more page views. They are all over the place so local area knowledge would be minimal. Best setup to get a discounted price anyway.

    I'm sure someone would be interested to give it a crack though.
     
  8. neK

    neK Member

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    They will sell and they will sell for a reasonable to high price too.

    Just because their ads suck on the internet, they advertise like crazy in the chinese newspaper.

    Older chinese agents (40+) generally don't negotiate and have the attitude of people will buy. Younger ones who are eager to prove, work harder.

    I tend to avoid dealing with older chinese sales where I can. I generally get no where with them. Be it cars, houses, or anything else.

    As a famous person once said "Chinese people cannot give you a bargain. Their objective is to get every penny from you." ;)

    https://www.youtube.com/watch?v=ZtbyVFLl_7U
     
    S.T likes this.
  9. hobo-jo

    hobo-jo Not a bear just a realist

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    lol'd at this one. No address listed. No price listed. Barely any details. No open inspection times. If this still sells it's just one more example of the bubble market in Sydney. No effort whatsoever put in to sell it.
     
  10. sumterrence

    sumterrence Member

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    I wouldn't put a time frame on when there will be bargains in Sydney, in fact, I will observe the rental market instead, give you a lot of insights ;)
     
  11. Scott No Mates

    Scott No Mates ...and people wonder why?

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    Targeted listing like these have more to with the deal struck with the developers than the agent's competency.

    The agency only has to introduce a buyer who signs with the developer & completes in order to get their commission. The sticking point is they are unable to advertise the property address or the prospect will approach the developer or lead agent and they will be cut out of the deal.
     
  12. WattleIdo

    WattleIdo Member

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    These have probably already been signed up by a BA - probably one we all know and love - working very hard atm. Everything in this area is gobbled up by BAs before anyone else has a chance.
     
  13. Nick Valsamis

    Nick Valsamis Vantedge

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    So I gave the lady a call. When asking about the unit in Westmead she kept saying that the building is too old, very expensive and will have problems because of the age, and that the bank will value it low etc.

    Then proceeds to sell me the off the plan properties and tell me all the benefits.

    Not doing a good job for the seller (if there even is one?), but she finally agreed to organise an inspection time for the property next week.
     
  14. windyzz

    windyzz Member

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    let us know how you go with the inspection. Very keen to know the address of the property. I have recently purchased one in Westmead.

    Demand is very strong while supply is very limited atm. Prices has increased rapidly from the beginning of this year.

    Bank Valuation has come up 20k more than what I purchased last month
     
  15. Nick Valsamis

    Nick Valsamis Vantedge

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    No worries will do. Looks like you got in there at a good time.
    Westmead would be my top pick for areas around Parramatta.