Re: Results from Saturday
Hi everyone,
An update after Saturday's auctions - particularly in the wake of interest rate rises and economic turmoil....
I attended the auction of this flat in Nth Melbourne on Saturday.
http://www.realestate.com.au/cgi-bi...TRALIA&c=34786926&s=vic&snf=ras&tm=1203303030
The vendor had purchased this flat around a year ago for approximately $270,000 through Simpsons. They did a very basic tidy up - paint new carpets, left the kitchen and original stove and bathrooms etc. A very basic flat on the ground floor with no carport or carspace. Some security issues with the windows of the bedroom and kitchen overlooking a driveway to the side of the building, and the loungeroom opening up to the common area/garden with no fence. Sold just on the reserve for $360,000. Only 2 serious bidders, and a small crowd to watch this one. Agents had to work hard to achieve this result.
This townhouse in the afternoon was a totally different story.
http://www.realestate.com.au/cgi-bi...r=&cc=&c=34786926&s=vic&snf=ras&tm=1203303030
A large crowd. 5 serious bidders. The quoting range had been adjusted during the campaign from $420-$450 to $450-$490. It was heavily contested by 5 serious bidders, and sold to a first home buyer for $540,000. A great result!
This flat will be auctioned next Saturday. It has an undercover car space, and is well presented. The top floor position and views should help this one as well.
I will be interested to see the result!
http://www.realestate.com.au/cgi-bi...TRALIA&c=34786926&s=vic&snf=ras&tm=1203303030
Would be interested to hear of other's experiences/observations from the weekend. Are interest rates biting?? Clearance rate was 73% overall, and I noticed that the Age didn't have their usual commentary. Does anyone know why not? The commentary in the Sunday Sun mentioned that the clearance rate was back to 2006 levels. Interesting!!
Regards Jason.