kallangur Heating up in SE Qld

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palm071

Trying to buy an IP here and I guess with all the talk of SE Qld starting to move and the new rail link things are moving.

Has anyone recently purchased property in this area?

Did you get any discount off the listed price?

Seems like the vendors are not going to move much from their price.

cheers Jo:)
 
palm071 said:
Trying to buy an IP here and I guess with all the talk of SE Qld starting to move and the new rail link things are moving.

Has anyone recently purchased property in this area?

Did you get any discount off the listed price?

Seems like the vendors are not going to move much from their price.

cheers Jo:)
Click to expand...

Can you give more details? There's a lot of property for sale so can't understand what you mean that vendors are not willing to move on prices. I have property in the area but haven't seen much change.
 
palm071 said:
Trying to buy an IP here and I guess with all the talk of SE Qld starting to move and the new rail link things are moving.

Has anyone recently purchased property in this area?

Did you get any discount off the listed price?

Seems like the vendors are not going to move much from their price.

cheers Jo:)
Click to expand...


Depends how realistic the asking price is. If it is well priced for a quick sale there won't be much room to move. If it is priced $100K over similar others in the market you should be able to arrange a hefty discount.
Marg
 
We bought there last October. A 3 bedroom townhouse. Asking price was $258k and we paid $247k. The vendor's wife had an illness, so we were told, and they were keen to sell. I noticed it had been listed earlier in 2013 for closer to $300k so we were happy. McDonalds on one side, child care on the other and a shopping centre at the back. We looked at the plan for the new rail line and it was going to be fairly close also....assuming it doesn't get moved.
 
Thanks for your replies:)

In the last couple of days the vendors are starting to move down from their asking prices. Prior to this we were putting offers on several properties and the vendors were not moving . I was looking at the recent sale prices for similar houses and many of the vendors were 20,000 above the sale prices and not prepared to move down.

When properties first go on the market vendors usually always have listed prices way above the recent sale price but I'm having more luck with properties that have been for sale for awhile instead of the new listed ones that won't move much straight away.

Also having trouble with some agents who would not present offers to the vendor unless it was in a contract instead of my email offer.

thanks again
Jo
 
Both places we've purchased recently went straight to putting a contract together, even though we would have walked away if there was no price reduction.

Certainly is a pain in the butt getting it all filled in, initialing every page, waiting for it to be sent off, then sent back with a counter and then sent back again with our counter. A quick email back and forth would be so much easier!
 
Do you think the suburbs reputation affects prices at all? I've heard of people buying in nearby suburbs (EG: Murrumba Downs/Kurwongbah) for a better name.
 
MichaelPark said:
What and where is that?
Click to expand...

There's a Sewage Treatment plant between two main roads in Murrumba Downs (other side in the Lawnton/Petrie area). It's here and you can find details about it here.

I wouldn't be too worried about it, unless you buy directly next to it. All of the land around it is either public (reserve) or owned by the Paper mill - which, if my childhood memories serve correctly, they really don't ever want to let go (and probably legally can't either?).
 
ojame said:
There's a Sewage Treatment plant between two main roads in Murrumba Downs (other side in the Lawnton/Petrie area). It's here and you can find details about it here.

I wouldn't be too worried about it, unless you buy directly next to it. All of the land around it is either public (reserve) or owned by the Paper mill - which, if my childhood memories serve correctly, they really don't ever want to let go (and probably legally can't either?).
Click to expand...

I've check it all out, and we would be on the other side of Murrumba Downs (up near North Lakes)
 
Not good...one of the areas I want to look at whilst in Brissie..looks like things are moving!! ;)

palm071 said:
Trying to buy an IP here and I guess with all the talk of SE Qld starting to move and the new rail link things are moving.

Has anyone recently purchased property in this area?

Did you get any discount off the listed price?

Seems like the vendors are not going to move much from their price.

cheers Jo:)
Click to expand...
 
thankyou for all the new information provided.:)

I certainly appreciate it and have also checked your links. I found most agents will do email offers only a few want a contract from the start of offers.

Jo
 
Almost all want contracts and some are even cheeky enough to want 1 week for finance.

You have to be careful on a contract as it could committ you over there.

palm071 said:
thankyou for all the new information provided.:)

I certainly appreciate it and have also checked your links. I found most agents will do email offers only a few want a contract from the start of offers.

Jo
Click to expand...
 
Most well priced things are moving pretty quickly.

I think I get a pretty good impression of how the market is going. I have a catchup with my conveyancing solicitors every day where I find out:
- what contracts have come in since yesterday
-what settlements are happening today
-conditions due today
-any contracts that fell over yesterday and why

I talk to real estate agents everyday. I talk to mortgage brokers everyday.

Things within about the 10km mark of CBD do not seem to be coming off in price and there are loads of multiple offers.

Most agents will present in contract form because they know that having a signed contract to present with dates etc is harder to say no to than a verbal offer.

One thing to remember in QLD is that if a contract is terminated under finance, building and pest, due diligence or other clause, you get all of your deposit back, no termination fee.

For the cooling off period, the termination penalty is worked out by the seller retaining up to 0.25% of the purchase price from the deposit. If the initial deposit is $100 (and you then make the balance deposit more substantial) and your terminate under the cooling off period the seller can only keep the $100, regardless of the price.

Finance clause is basically a get out of jail card free situation in QLD. You must make reasonable effort to apply for finance, but you do not have to be reasonable about accepting the terms and conditions of the offer of finance.

B&P clause is not bad either.

Have a great Due diligence clause and it is definitely walk away scott free.
 
palm071 said:
thankyou for all the new information provided.:)

I certainly appreciate it and have also checked your links. I found most agents will do email offers only a few want a contract from the start of offers.

Jo
Click to expand...

I don't understand why anybody would want to email an offer. That is a great way to open yourself up to be gazumped :eek:.

I've never bought other than by going directly to contract. I don't know anybody who's done it otherwise (verbally or via email), but clearly it must happen.

I want my signature on that contract and once the vendor signs, I can relax.
 
I don't know why anyone would be interested in kallangur, it's so far away, what's up there? 32 k from the city - is there anything, other than train line, that I don't know about that makes this place interesting to investors? Surely people would be better to go to Chermside.
 
wylie said:
I don't know anybody who's done it otherwise (verbally or via email), but clearly it must happen.
Click to expand...

Errr, polite cough :p, me?
Owners were in the United States so agent was accepting offers by email, he also said to write our terms and conditions down.
We were the middle offer but were accepted because the highest offer wanted a 2.5 month settlement date.
 
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