How much is this house worth?

[cceasy]

Hi all,

I'm interested in this house located in Sunshine North but I'm not sure what it's worth... My estimate based on the previous sales in the area is around the $470 to $490k. I spoke to the sales agent and he's telling me the auction guide is around $540 to $570... That's a huge price difference...
http://www.realestate.com.au/property-house-vic-sunshine+north-118998367

Anyone from the area knows roughly how much it'll go for? I want to know whether I should waste my time organising a building and pest... I personally don't think it's worth that much...

 

[Peter_Tersteeg]

Residex report for the property is attached. Take a look at the compatible sales on page 4, drive past them. It won't give you the answer but it will give you a feel for it.

 

[cceasy]

Great thanks for that Peter... Very helpful!

 

[albanga]

I would say extremely ambitious by the REA. He is quoting sunshine central prices. This property whilst nice is not situated in an amazing pocket or anything.

 

[Jenko]

Hi all,

I'm interested in this house located in Sunshine North but I'm not sure what it's worth... My estimate based on the previous sales in the area is around the $470 to $490k. I spoke to the sales agent and he's telling me the auction guide is around $540 to $570... That's a huge price difference...
http://www.realestate.com.au/property-house-vic-sunshine+north-118998367

Anyone from the area knows roughly how much it'll go for? I want to know whether I should waste my time organising a building and pest... I personally don't think it's worth that much...

It annoys me how they have a price guide like $540- $570 as if someone is going to offer $570... I realise in a hot maket somone might but I'd be thinking of offering $520 (depending if that was a good price for it). I made an offer on a property once of $330 when the add said mid 3's the Agent said the vender was chasing around $350.. So I asked" why didn't you list it at that price then?"

 

[cceasy]

Based on that report the owner bought it for $495k in 2009... Hard to tell how much it would go for...

 

[JamesP]

Based on that report the owner bought it for $495k in 2009... Hard to tell how much it would go for...

Can't be? Sunshine North had a median of 214k or so before 2010 and then prices soared 97% in the space of a year.