Is it Hot, or What?

[skater]

OMG!

A house a couple of doors down from us had a 'Property Launch' just now. We went to have a look at it.

You know, I've never seen so many people wandering through a house. I spoke to the Agent who thinks it was somewhere around 60 parties for this home, but they had another this morning at Erskine Park which had 90 parties viewing it.

 

[WattleIdo]

Legendary. This'll bring on the new developments we've been waiting for, I suppose. And contain Sydney rents for the next decade.

 

[MTR]

OMG!

A house a couple of doors down from us had a 'Property Launch' just now. We went to have a look at it.

You know, I've never seen so many people wandering through a house. I spoke to the Agent who thinks it was somewhere around 60 parties for this home, but they had another this morning at Erskine Park which had 90 parties viewing it.

Be interesting to know the mix, investors?? FHB??
Median house price around $470K, still cheap for Syd.

Keep going you beautiful thing

 

[depreciator]

There is a queue right now to get into a house about 5 doors down the street from me. Must be 20 people lines up - the agent would be madly scribbling down names and phone numbers.

 

[MTR]

What area Scott??

 

[knightm]

There is a queue right now to get into a house about 5 doors down the street from me. Must be 20 people lines up - the agent would be madly scribbling down names and phone numbers.

So you should have someone handing out biz cards down the queue, everyone needs a little more depreciation.

 

[D.T.]

So you should have someone handing out biz cards down the queue, everyone needs a little more depreciation.

Gotta keep 'em depreciated?

 

[DaveM]

You know, I've never seen so many people wandering through a house. I spoke to the Agent who thinks it was somewhere around 60 parties for this home, but they had another this morning at Erskine Park which had 90 parties viewing it.

I went to both erskine park launches for a squiz. Both were packed. The 519k 4 bedder was price bait. The renovated 3 bedder will go into the early 6's.

 

[MTR]

I went to both erskine park launches for a squiz. Both were packed. The 519k 4 bedder was price bait. The renovated 3 bedder will go into the early 6's.

DaveM
I am gobsmacked, what would it have been worth perhaps 12-18 months ago, I know not relevant, but I am as curious as hell

 

[DaveM]

Past 24 months has seen a circa 30% for unrenovated and circa 50% increase for move in nothing to do renovated properties.

People have servicing and deposit but not the 30-50k to renovate after purchase, and so will pay a premium for a fully renovated place where they can finance the difference

I am finishing my renovation currently and am going to refi so have been checking out the market.

http://www.realestate.com.au/property-house-nsw-erskine+park-118945971 was listed as over 649k sold 730k on first open. 12 months ago, would have sold circa 550-580k, 24 months 475-500k

 

[Tonibell]

Went to an open house at North Ryde today that was a couple of doors down from our IP.

It is going t auction and the agent was saying it would start at $1.5M which seemed ridiculous until she point out that the unrenovated one two doors down had recently sold for $1.311. I'd say that is also about a 30% jump from 12 months ago - easy to get out of touch.

About 10 parties were there at the time.

 

[hugh72]

Sounds Hot, very envious of the easy cap gains, would hate to be a buyer in Sydney right now in the middle of a feeding frenzy

 

[MTR]

Past 24 months has seen a circa 30% for unrenovated and circa 50% increase for move in nothing to do renovated properties.

People have servicing and deposit but not the 30-50k to renovate after purchase, and so will pay a premium for a fully renovated place where they can finance the difference

I am finishing my renovation currently and am going to refi so have been checking out the market.

http://www.realestate.com.au/property-house-nsw-erskine+park-118945971 was listed as over 649k sold 730k on first open. 12 months ago, would have sold circa 550-580k, 24 months 475-500k

Fantastic news for those who purchased in Syd, very good gains.

 

[skater]

Be interesting to know the mix, investors?? FHB??
Median house price around $470K, still cheap for Syd.

Keep going you beautiful thing

Here is a link to the one I was at:

http://www.realestate.com.au/property-house-nsw-st+clair-119120819

It has an original kitchen which has been painted with laminate paint. Plus the tiles in both bathrooms, both wall & floor, have been painted. It looked great, but a very, very cheap freshen up before sale. Most there would not have picked up on this, as the finishes were very good, but having used the product, there were some tell tale signs.

Agent out the front was asking if it was for owner occupier or investment as we went in. I looked at the page & it was about a 50/50 split.

 

[D.T.]

Do they mark on the list whether they're OO or IP?

 

[skater]

Do they mark on the list whether they're OO or IP?

You know, I've never noticed it previously, but yes, they did today. That was Starr Partners.

 

[Hodge]

Wonder why they do that? Would they treat an investor more seriously?

 

[hugh72]

Wonder why they do that? Would they treat an investor more seriously?

Or they know that they are not desperate to find a home and are less likely to be fed BS

 

[D.T.]

Wonder why they do that? Would they treat an investor more seriously?

It takes 2 to negotiate. If you know what the other sides motivation is that's half the battle already won.

PLUS, having the notes in the contacts database could be useful for future marketing purposes.

 

[INVSTOR]

I've been to a few opens where they ask on form if you need to sell your property, then next question is if you want an appraisal on it. Probably after more listings.