I love Frankston South. IP#3 done deal would you believe?

[pickle pickle]

A few days ago people were saying to post some bargains. Now with the link below, the advertised price is not a baragin. However it has been on the market for a little while now. If I was in the market for another property I might put an offer of $150,000 and see what they come back with. At around $200,000 to $220,000 it would be getting close to a bargain as it looks like a good development site. What do others think.

http://www.realestate.com.au/cgi-bi...t=&header=&cc=&c=35855259&s=vic&tm=1251545862

 

[Bayside]

A few days ago people were saying to post some bargains. Now with the link below, the advertised price is not a baragin. However it has been on the market for a little while now. If I was in the market for another property I might put an offer of $150,000 and see what they come back with. At around $200,000 to $220,000 it would be getting close to a bargain as it looks like a good development site. What do others think.

http://www.realestate.com.au/cgi-bi...t=&header=&cc=&c=35855259&s=vic&tm=1251545862

$150k?
Thats ridiculous lol
I bet the agent won't take any offers under $250k for that property

 

[newhigh]

newsflash: the world isn't ending

Agents must submit all offers. That said, in this market few owners would entertain lowball offers. The time to lowball successfully was last Xmas when agents were predicting the end of the world.

 

[Bayside]

They should but they don't, Sam Bucca at Seaford MPRE wouldn't take my offer of $215k in writing for a property advertised at $230k last year.
A few others havent taken my offers either and they haven't been lowball

 

[pickle pickle]

I'm more interested, what people think that property is worth. I think those owners deserve a lowball offer for advertising so high.

 

[pickle pickle]

They should but they don't, Sam Bucca at Seaford MPRE wouldn't take my offer of $215k in writing for a property advertised at $230k last year.
A few others havent taken my offers either and they haven't been lowball

What did the property sell for?

If I was selling, I would want my agent to show me the lowball offers, so I can negoiate with the person.

 

[Bayside]

He was pressing me for $220k, I didn't want to go over $215k.
It was on the market for nearly 6 months. Ended up selling for $215k and I purchased a place in the next street for $218k

 

[bobbiemenzies]

When an agent doesn't present an offer, this is one way to exert influence on the markets. Someone out there mentioned that there is a fair amount of price manipulation going on. I am not surprised. The laws have been tightened up in the last few months and it is now a jailable offence to manipulate the market in this way. Hope the agents take heed and present ALL offers.

As for Funkysouth's prediction that the markets would crash.......hmmm this guy is an agent no sensible person would want to be involved with. He's more interested in his commission than in getting owners a good result.

 

[funkysouth]

Weren't you the agent who predicted the end of the world earlier this year? Despite what you said, Frankston prices are setting record highs. You don't seem happy with that.

Frankston is underpriced relative to the Melb market and is catching up. Get used to it: Prices are headed northwards.

You got it badly wrong earlier this year. Your credibility is shot. Travel around the world a bit more and you will see that $310k (the current Frankston median) buys you very little overseas.

I am very enthusiastic about the Frankston Property market and as someone who lives and breathes it 7 days a week I would have thought my opinion on price on a thread discussing price might be worth something to readers. I have never predicted a market downturn or 'end of the world'.

Also for the record, my travels have taken me to every continent on earth and every state of Australia. My credibility is fine.

 

[The_Bludger]

I offered $330k on this house as soon as it got listed and the agent laughed. It ended up selling for $345k a few days later. It's in a great spot and very close to all amenities.

http://www.realestate.com.au/cgi-bi...u=&c=99476519&m=0&s=vic&snf=rbs&tm=1250468109

This one got sold for $375K a few weeks ago:

http://www.realestate.com.au/cgi-bi...c=&c=31242332&m=1&s=vic&snf=rbs&tm=1251685250

And asking price on this one is $350-380K

http://www.realestate.com.au/cgi-bi...c=&c=31242332&m=1&s=vic&snf=rbs&tm=1251685250

 

[Harris]

They should but they don't, Sam Bucca at Seaford MPRE wouldn't take my offer of $215k in writing for a property advertised at $230k last year.
A few others havent taken my offers either and they haven't been lowball

If I am selling a property and the agent knows my 'floor price', I would not be interested in entertaining any other 'low ball' offers (verbal or in-writing) and I have done that in the past every time when selling properties.

It is not correct that the agent has to submit all offers when they have been advised to the contrary by the vendor. I have told agents to stop wasting my time when they would do that in breach of my clear instructions.

Agents are just a means to an end and effectively a tool or medium which can get one closer to smart acquisitions. With all the rhetoric in this forum over a number of months, I dont believe that singling them out either as 'heroes' or 'villains' serves any purpose. If anything it just results in rants of useless pro and anti agent posts which are of no use or value in the overall debate to maximise the identification & purchase of good buying opportunities.

$150k would not have bought you a property in Frankston North even 2 years ago so it will be a useless exercise for the agent and for the vendor to 'review' that offer. I can bet my bottom dollar that within a few months, there will be nothing available in Frankston North for under $250k with the level of activity and the super hot market in the sub $350k segment in Frankston North and Frankston and the rapidly climbing values.

Harris

 

[Property Meister]

must admit, i'm seeing the prices go up,

however, a few people around me are saying that its simply overpriced, whether or not I agree aside, for say $350k you get a house that is in poor condition, much better options in many other suburbs,

anyway, I just found this one

http://www.realestate.com.au/cgi-bi...t=&header=&cc=&c=99230219&s=vic&tm=1251261555

$400k on a main road with the trainline in front of it is ridiculous.

I made an enquiry about it, turns out its already subdivided and you don't get the other occupancy at all!!!!!!! so $400k for a smaller block....no wonder its been on sale for about 3-6 months

 

[super_sam]

You got it badly wrong earlier this year. Your credibility is shot. Travel around the world a bit more and you will see that $310k (the current Frankston median) buys you very little overseas.

Sooner or later, people will realize how badly mispriced Frankston is. Ask gurus like Terry Ryder, Margaret Lomas....I daresay they know and own more than you do about mispricings and hotspots.

$310,000 is US$260,428.18. I think I could buy plenty over there for that. Maybe 10 beachfront condo's in Miami according to a recent thread...