Post up your amazing result (or stupid price) of the week

Yeah, I was there. It was quite small. Still probably 30-40% passive CG in a bit over 12 months time from what it would have likely sold for at the height of D&G and the GFC late '08 or so.

Begs the question... if you time your purchases well, why bother renovating/developing?

Thanks JIT, how did the size compare to the Bryson st one (if you saw through that), cheers. I just saw the maling rd sale in the paper.
 
How about this one everyone is talking about? I decided to repeat it because it was such an awesome result.

http://www.realestate.com.au/property-house-vic-northcote-106332010

1/20 Vauxhall Road, Northcote quoted at $460-500K and sold for $712K.

My mate's colleague wanted to bid at the auction. Was going in guns blazing at $600K or maybe an extra 10 or 20K at best. I heard he was pretty confident as well. Got completely steamrolled and didn't even get the chance to put his hand up.
 
How about this one everyone is talking about? I decided to repeat it because it was such an awesome result.

http://www.realestate.com.au/property-house-vic-northcote-106332010

1/20 Vauxhall Road, Northcote quoted at $460-500K and sold for $712K.

My mate's colleague wanted to bid at the auction. Was going in guns blazing at $600K or maybe an extra 10 or 20K at best. I heard he was pretty confident as well. Got completely steamrolled and didn't even get the chance to put his hand up.

Wow. I was going to bid on that one, then changed my mind and bought in Syd/Bne instead due to stupid Melbourne prices. This affirms I made the right decision.
 
Wow. I was going to bid on that one, then changed my mind and bought in Syd/Bne instead due to stupid Melbourne prices. This affirms I made the right decision.

Haha, I was going to bid on that as well (would have gone around the $600K mark). Seems like so many people were interested in it.

Well, you never know, it could be a stupid....ly low price come a few months or years time. What happens if something like that in 5 years time was worth $1mil+?

Btw, congrats on your other purchases. Now you definitely went all guns blazing after picking up that Pentridge apartment recently (yes, I remember).
 
I bought a 3 bedroom 2 bathroom renovated house around the corner from Vauxhall rd 6 months ago. It was the only one passed in on that weekend and the market had not yet fully exploded.

Have renters in there for a one or two years.
 
How about this one everyone is talking about? I decided to repeat it because it was such an awesome result.

http://www.realestate.com.au/property-house-vic-northcote-106332010

1/20 Vauxhall Road, Northcote quoted at $460-500K and sold for $712K.

My mate's colleague wanted to bid at the auction. Was going in guns blazing at $600K or maybe an extra 10 or 20K at best. I heard he was pretty confident as well. Got completely steamrolled and didn't even get the chance to put his hand up.

I know one of the agents in that office - the reserve was $500,000 :eek: They thought they would get high 5's at a push.

There is something silly going on if you need to outlay $750k (with stamp duty) to get a 2 br unit in Northcote.
 
Btw, congrats on your other purchases. Now you definitely went all guns blazing after picking up that Pentridge apartment recently (yes, I remember).

Thanks. All those crazy Melb prices turned me off buying here for the moment. The final straw was seeing a 2BR with no outdoor space or carpark in Richmond go for around $830K from memory - reserve was $600K.
 
Thanks. All those crazy Melb prices turned me off buying here for the moment. The final straw was seeing a 2BR with no outdoor space or carpark in Richmond go for around $830K from memory - reserve was $600K.

wow. that is amazing. people are just stupid nowadays. ah well, they will be the first ones to cop it when the tide does (and it will!) turn
 
This is a bit older (sold in early march) but one I had my eye on.
http://www.realestate.com.au/property-unit-vic-surrey+hills-106314303?tm=1266385898&c=47505453

Advertised at 400+ which I thought was a bit cheap for the area which is the Mont Albert side of Surrey Hills.

Sold at auction for 615. :cool:
Now doing some homeowork prior to the sale showed that this was advertised way too low for the area but it still pisses me off that I waste time following the prices of these places because the agent decided to underquote it.
 
Thanks. All those crazy Melb prices turned me off buying here for the moment. ]


Mmm I've just about given up too. I got priced out of Kensington and after advice from this forum, I decided to look at an older block of flats in a slightly further out suburb (Ascot Vale).

The result on this flat just about did my head in. Its a third floor flat, no lift, no blacony in a hideous 70s block of flats. The EPR was $350- $380K but it sold before auction for $502K.

http://www.realestate.com.au/property-apartment-vic-ascot+vale-106393241
 
Thanks. All those crazy Melb prices turned me off buying here for the moment. ]


Mmm I've just about given up too. I got priced out of Kensington and after advice from this forum, I decided to look at an older block of flats in a slightly further out suburb (Ascot Vale).

The result on this flat just about did my head in. Its a third floor flat, no lift, no blacony in a hideous 70s block of flats. The EPR was $350- $380K but it sold before auction for $502K.

http://www.realestate.com.au/property-apartment-vic-ascot+vale-106393241

That is unbelieveable! So this is half a million bucks in Melbourne! WOW

Thanks for the post.
 
Thanks. All those crazy Melb prices turned me off buying here for the moment. The final straw was seeing a 2BR with no outdoor space or carpark in Richmond go for around $830K from memory - reserve was $600K.

There would no be way the reserve price for a 2br house in Richmond would be that low IMO, unless you have seen the agency agreement between the vendor and the REA. Of course, there are many that are left blank and filled in after the auction.
 
A few years ago i bought a development block in a NSW regional town for $150k cash and sold it (couldn't be bothered developing it) 18 months later for $375k.

All i paid was council rates and didn't lift a finger. Didn't even mow the grass. :D

Why did you sell?
 
This is a bit older (sold in early march) but one I had my eye on.
http://www.realestate.com.au/property-unit-vic-surrey+hills-106314303?tm=1266385898&c=47505453

Advertised at 400+ which I thought was a bit cheap for the area which is the Mont Albert side of Surrey Hills.

Sold at auction for 615. :cool:
Now doing some homeowork prior to the sale showed that this was advertised way too low for the area but it still pisses me off that I waste time following the prices of these places because the agent decided to underquote it.

Disgraceful quote, 400k is ringwood pricing.
 
I bought a place in St Marys back in November for $265k. It's a 5yo townhouse, 3br w/ built ins, 2 bathrooms, tandem lock up garage ducted aircon etc. I thought it was a good buy. being my first and all.

Place I saw 1 or 2 streets up was very similar, but without the a/c, only 1 garage and slightly smaller was asking $295k at the time. Now they seem to be asking around the $310k mark down the street :)
 
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