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

Nathan said:
Because i buy well...

Just same as the property i bought for 22k the week prior that settled on this friday 14 day settlement is on the market for 75k and will get 65-70k straight away :)

its a matter of acting quickly, when an agent gets price wrong or you get a desperate vendor...

ARe you trying to suggest one cant/doesnt make money in real estate?
Click to expand...

so wheres the link since you have it on the market?
 
james_w said:
so wheres the link since you have it on the market?
Click to expand...

James,

Regarding your signature link, a couple of questions.

Who is the builder of the homes you are suggesting is $240k?


A couple of other comments.

1. As there are different guidelines for planning issues with respect to single dwellings, as opposed to dual occupancy, are these all sorted in your package.
2. The video gives me the assumption that it is cashflow positive. You mentione cash positive. I think this is a bit misleading, given there are other expense to worry about on a property, or for that matter dual occupancy. (2 sets of rates, 2 management fess, 2 sets of insurances..... and 2 sets of rates for caboolture is about $3600!!)
3. I assume the partition walls for the single bed unit are firerated and extend fully to the underside of the roof. Also appropriate insulation (noise) in common wall for multiple buildings.
4.

Intersting concept though.

Good luck with it.

How much would you charge for a duplex build?

F
 
no I its last major city before PNG.

Its listed will be on net prob wednesday, just due to a few reasons. Will throw link up then.
 
Boxes in Muswellbrook

Not a sale, but for sale.
These silly little boxes are for sale in Muswellbrook. They were built years ago and the developer went bust and been sitting empty for a few years. They'd probably look OK in the city, but look ridiculous in a country town.

With the developer going bust, I thought they'd come on the market at bargain prices, but they are above 300k! Plus, - Vendor will 'top up' rent for investors to $340 per week for a limited time only. Wow? amazing rental yield there.:(
All this for on the edge of town and not able to walk anywhere, not even a pub or shop.

http://www.realestate.com.au/cgi-bi...mt=&header=&cc=&c=5670597&s=nsw&tm=1267388560


See ya's.
 
Nathan said:
Because i buy well...

Just same as the property i bought for 22k the week prior that settled on this friday 14 day settlement is on the market for 75k and will get 65-70k straight away :)

its a matter of acting quickly, when an agent gets price wrong or you get a desperate vendor...

ARe you trying to suggest one cant/doesnt make money in real estate?
Click to expand...

No, what Im saying is where were these 'buyers' who werent around to buy it for $22k but will now be around to buy it at 3 times the price? Or are you doing reno?
 
JIT said:
611k is pretty impressive for an un-renovated 2x1x1 apartment in Armadale.

Here's one in Canterbury for a 2x1x1 villa unit, that according to a friend was advertised at 500-550k, on paper I would have thought it could get 600-625k... turns out it sold for 730k!

http://www.realestate.com.au/106277201

Although the 375k for the Chelsea villa could possibly justify this result in Canterbury. :D
Click to expand...

This one was in a premium street, 500-550k sounds like an underquote. Maybe in the Chatham area on the other side of Canterbury Road....maybe.

What did surprise me most about the auction though was of the 4 bidders, 3 were young couples (2 had 2 kids, the other couple pregnant). I went to the auction expecting to see downsizers bidding or maybe dinks. It is intersting that they'd make such a sacrifice on size in order to be in the right location. Is this the new family home?
 
DeeHwa said:
I believe it would sell for the mid $600K's, possibly $660K as an educated guess (just for the sake of guessing, haha). I also believe this to be a fair and reasonable price given the current market and comparable unit prices in such premium areas. Having said that, I haven't physically inspected the property although I know the area quite well and have traveled down that part of Maling Road. I would be 'slightly' surprised if it cracks the $700K as I don't believe it is that close to the 'quality' of the Bryson St unit but of course, I am just relying on photographs.

All in all, I would agree with Andrew.
Click to expand...

Agree, doubt it will crack 700k (if so then Bryson was cheap). Would expect mid-high 600.

DeeHwa, out of interest what would you say for land values around that area?
 
DeeHwa said:
I believe it would sell for the mid $600K's, possibly $660K as an educated guess (just for the sake of guessing, haha). I also believe this to be a fair and reasonable price given the current market and comparable unit prices in such premium areas. Having said that, I haven't physically inspected the property although I know the area quite well and have traveled down that part of Maling Road. I would be 'slightly' surprised if it cracks the $700K as I don't believe it is that close to the 'quality' of the Bryson St unit but of course, I am just relying on photographs.

All in all, I would agree with Andrew.
Click to expand...

I was thinking around 640-650k at auction.

I have a similar property just off Maling Rd, but closer to the cafe lates, so will be interested to see the result here.

Also, I think these 2x1's are too small for a couple with 2 kids, or even 1!

Will be outgrown very quickly.
 
JIT said:
Also, I think these 2x1's are too small for a couple with 2 kids, or even 1!

Will be outgrown very quickly.
Click to expand...

That is what I thought, what surpised me though is the kids were 3-6 years old so surely they know what they are getting themselves in for in terms of space requirements?

My guess is they buying due to proximity to good schools so maybe it is a choice between a unit or an apartment for them?
 
I think it highlights the sacrifice's or squeeze people are prepared to go to for a location they really want. I looked at various units in Camberwell/Canterbury 2+ years ago and many were really small. Bedrooms less than 3x3m. Great location though.

For those sort of $$ you are looking at a house in Nunawading, maybe Blackburn or Vermont. Probably not getting a full house in Burwood for mid 600s now (without major work to do).

Speaking of Blackburn. $749K. 605 sqm.

http://www.realestate.com.au/106270613
 
I absolutely love the Maling Rd area, but there's nothing 'cosmopolitan' about it!

Quote from the Bryson St's unit REA blurb:
"The cosmopolitan Village life of Maling Rd's cafe culture"
 
paul2299 said:
Agree, doubt it will crack 700k (if so then Bryson was cheap). Would expect mid-high 600.

DeeHwa, out of interest what would you say for land values around that area?
Click to expand...

Hey Paul, I am not too sure about land values in that pocket of Canterbury actually. If anything, I would try and compare a similar sized block elsewhere in Canterbury. So for example, if a typical 800sqm was $2mil in the 4 avenues (Monomeath, Victoria, Alexandra and Wentworth - in prestige order), I would go about $1.7-1.8 in The Ridge, Torrington and maybe $1.4-1.5mil in the Bryson, Wattle Valley area.

It is a nice part of Canterbury (that Bryson area) but I would prefer to be towards Scott St as that part seems to muddle itself with Camberwell and Surrey Hills.
 
Jonathon said:
I absolutely love the Maling Rd area, but there's nothing 'cosmopolitan' about it!

Quote from the Bryson St's unit REA blurb:
"The cosmopolitan Village life of Maling Rd's cafe culture"
Click to expand...

Yeah, they should look up the definition of cosmopolitan before using it! They probably think it has a good ring and sounds 'sophisticated' so hence its usage.

The Maling Road shops are awesome, love the architecture and the fact that there is a heritage overlay on the entire strip which preserves its character.
 
Jonathon said:
I absolutely love the Maling Rd area, but there's nothing 'cosmopolitan' about it!

Quote from the Bryson St's unit REA blurb:
"The cosmopolitan Village life of Maling Rd's cafe culture"
Click to expand...

Well it's not 'trendy' if that's what they mean. I like that sort of lifestyle though... very 'suburbian'
 
topcropper said:
Not a sale, but for sale.
These silly little boxes are for sale in Muswellbrook. They were built years ago and the developer went bust and been sitting empty for a few years. They'd probably look OK in the city, but look ridiculous in a country town.
Click to expand...

Absolutely agree TC. Definately one of those 'What the heck were they thinking'. Originally I was told they were going to be an Over 55's village type. Didn't make sense though with a steep incline and 2 story buildings.

I reckon they will be spruiked to some unwary interstate investor with a rental guarantee!! :eek:

Sunshine
 
2 very high prices for smallish units

the prices being paid for 2 bed units in inner east melb including Glen Iris, Balwyn.Canterbury, surrey Hills, Mont albert, Camberwell seem to have skyrocketed since early 2009.....what used to have an ESR and sell at $380-420 or $400-$440 are now over $500....can this last? at what price level do savvy property investors stop bidding?

2 examples from sat 27/2

1/16 brenbeal st balwyn..sold $780,000!
http://www.realestate.com.au/106278237

and 1/120 rochester road, balwyn. sold for $660,000http://www.realestateview.com.au/Real-Estate/Property-Details-buy-residential-1538981_S.html
 
I've got 3 villa units myself (2 x inner east, 1 x inner north), and think they will continue to be in high demand, maybe even growing as much/more than houses in % terms.

Especially the odd 3 bedder which is harder to find.
 
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