Investing in the Anchorage Estate at Rockingham-Shoalwaters Suburb

Dear All,

1. Based on my own research, the single storey residential house being listed on sale presently in the Anchorage Estate today, and with the lowest asking sale price is $409,000 at 112 Fisher Street, Rockingham

http://www.realestate.com.au/cgi-bi...header=&s=wa&snf=rbs&tm=1157364432&c=20704931

2. On the other hand, the single storey residential house being listed on sale at the Anchorage Estate with the highest asking sale price is $588,000-$628,000, which is located at 43 Brindabella Avenue, Rockingham.

http://www.realestate.com.au/cgi-bi...header=&s=wa&snf=rbs&tm=1157364432&c=20704931

3. The house in the Anchorage Estate being listed for sale and with the highest asking sale price is $835,000 which is a two-storey townhouse located at 14?/"41", Fisher Street, Rockingham.
http://www.realestate.com.au/cgi-bi...header=&s=wa&snf=rbs&tm=1157364432&c=20704931.

4. The total number of houses being listed on sale in the Anchorage Estate has also increased to 30 over the last weekend.

5. For your kind update and further comment/discussion, please.

6. Thank you


Cheers,
Kenneth KOH
 
Glad you're all over this Estate Kenneth. Ever thought of getting a RE licence yourself? I reckon you may be right it not being turn key - $10k for floorings, $4k for paint, $2k for windows treatments, $5k for electricals and air-con..etc.. $10k for landscape and shed. Thats $30k already. So its not really that much of a bargain is it?
 
WOW

That property for $409,000 looks VERY small for a 4x2, I cant believe it will achieve over 400k.

If it manages to sell for that price then it leads me to believe that the price of a reasonable quality and decent size 4x2 being around....$450-460k?

<KS>
 
Dear KS,

1.The house (175m2) at 35, OceanRunner Bvld, Shoalwater (Land=488m2) was last sold for $400,000 in May 2006.

2. The house (210m2) at 31 Oceanrunner Bvld, Shoalwater(Land=488m2) was sold for $440,000 in May 2006.

3. The house at 8 Oceanrunner Blvd (195m2), Shoalwater (land=519m2) was being sold for $475,000 recently.

4. The house at 28, Oceanrunner Blvd, Shoalwater which was being listed for sale for $475,000, is presently under contract/under contract since 1st Sep 2006.

5. So, if we were to take a drive/walk down along the Oceanrunner Blvd, we can receive a good update and self-education regarding the present market value for the various houses in the Anchorage Estate.

6. For your kind update, please.

7. Thank you.

Cheers,
Kenneth KOH
 
Thanks Kenneth,

My blocks are 565m2, a good size for the Anchorage and both have diagonal views of the small stage 12 lake and park, and are located in 'Shoalwater' - not 'Rockingham'.

Both are over 210m2 living space......so without a large correction in the market I can estimate at around $480k?

I stop and think - wow! But then my most recent 3x1 is valued at $350k in Woodbridge and I think, well maybe $480k for a 4x2 in a better area isn't that crazy afterall.

<KS>
 
Dear KS,

1. I believe that your house estimate is very reasonable under today's market conditions.

2. Didn't I read earlier that your house at 24 Rhapsody Close was last valued for $460,000 some time in June-July 2006?

3. Thank you.

Cheers,
Kenneth KOH
 
Kennethkohsg said:
Dear KS,

1. I believe that your house estimate is very reasonable under today's market conditions.

2. Didn't I read earlier that your house at 24 Rhapsody Close was last valued for $460,000 some time in June-July 2006?

3. Thank you.

Cheers,
Kenneth KOH
Click to expand...

Thanks for the reassurance Kenneth.

Yes 24 Rhapsody was indeed valued at $460k last June, thats why I am guestimating $480k 3 months on, and also the area is getting more established with 2 very nice Dale Alcock Homes being built either side of my own. Both are going to be owner occupied as are 2 of the other very large nearby houses, including the one in the corner built by Rural Building Co.

<KS>
 
449k in Shoalwater

Hi everyone,
I'm new to forum and very interested in buying in Shoalwater area.
Has anyone spoken to agent re house advertised at 449k in Shoalwater? I have rung today and spoken to agent who reakons house is fully complete inside and will also be landscaped. I've been wanting to buy something in this area as an investment for a while. Does this seem good value for money? Have been told owner will not drop price any further and that he thinks he'll have 2 offers by this evening. Any thoughts?
 
Dear Serfguru,

1. Which house are you actually referring to? Lot 1909?

2. I think that there is no need to hurry to purchase at $449K property as yet. If it is so hot, I believe that the property is long gone already before you call the RE agent!

3. ... if the owner thinks that he is going to have 2 offers this evening, let him have them first. .. I will not be surprised if the RE agent will to call you the next day/few days later, to enquire if you are still intrerested in the same property... Well, I may be wrong, though.

4. However, if you do call them a few days later and ask what they have been offered and if the property is still available, you will gain a lot of bargaining power to negotiate down for your own 449K property purchase.

5. For your kind update, please.

6. Thank you.

Cheers,
Kenneth KOH
 
Dear All,

1. Beside seeing more houses with "for sale " signs in the Anchorage Estate on the ground, a quick internet check on the realestate.com.au also reveals that some of the vendors are beginning to lower their own asking prices.

2. A further check on realestate.com.au also showed that there was only one property reported as sold in the Anchorage Estate during the whole month of August 2006 at 33 Boyle Street which was reportedly being sold between "$460,000-$530,000" price range.

3. This seems to suggest that local resale market for the Anchorage Estate has somewhat "suddenly" slowed down quite significantly.

4, Could Paulie and the other informed members kindly help to confirm if this is indeed so too for the other suburbs within the Perth property market, please?

5. Looking forward to learning and be further educated about the Perth property market, please.

6. Thank you.


regards,
Kenneth KOH
 
this wouldn't make sense, if stock levels start to return to normal levels, sales volumes should be expected to increase, not decrease. I guess the lag between a contract being struck and th sale being reported could account for the anomolie, and rpdata does take quite some to register

Friends bought some apartments at Burswood yesterday for around the $1.850m mark. by all accounts it was a feeding frenzy, lines of buyers and the vendors were upping the price on the spot by around $40k.

at this stage of the cycle I am wondering if it will be the upper end of the market that leads the way. just thinking aloud, I wonder if this will cause a dramatic rise in the reported median (for what it is worth)?
 
Dear Ausprop,

1. I believe that as in the Eastern States, the prestiage properties is not affected at all and has in fact continued to rise.

2. However, subject to further confirmation, I would expect the 1st homebuyer market segment to slow down significantly as a result of land/housing affordability related issues.

3. In fact. it was reported in yesterday's West Australian Newspapers that according to a study by Merrill Lynch investment bank, Perth have even surpassed Sydney as being the most expensive housing market in Australia and could soon be even less affordable than New York.

4. The same report went on to say that Perth ( 8 x incomes) has become less affordable than Melbourne (6 x income) and Sydney (7 x incomes) based on the average household income and warned that there would soon be a sharp downturn, as a result of the housing bubble caused by strong market speculation.

5. For your kind update, please.

6. Thank you.

regards,
Kenneth KOH
 

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