Redfern update

ILLEGAL???

HI Julie & Gumballr

IS practise illegal?!?! Well no. I Think. IT may be unethical and not good for business.

However I can say from personal experience selling a property in July in today market you can get much better results than expected. This happened to us and everyone including me was stunned with result!

I can also say that Agent MC Grath is adament to try and list in the ball park because it is no good listing low because the buyers can afford to go up and the higher buyer thinks it cannot be anygood for the lower price. Very tricky, our sale got bagged slightly in the telegraph the week later as not being affordable at all but hay! we honestly was stunned and the buyer turned up on the day, unknown and unannounced to the agent and bleweveryone away!

This brings me to the register of bidders. yes I can see how might withdraw with only one or two registered bidders however this is probably driven by the vendor as knowing an agent gets paid on the sale only why would they withdraw and not sell? No $$$$$

regards

Peter
 
gumball,

nice, wonder what it looks like on the outside? also, where is the carspace on the floorplan?

might inspect this one. estimate price anyone? :)

julie
 
Subject to seeing the outside and to the carspace, what say $900k to $1m?

McGraths sold something similar at 35 Nichols Street, Surry Hills for $1.12m, two weeks ago.
 
Re: ILLEGAL???

Originally posted by Peter 147

I can also say that Agent MC Grath is adament to try and list in the ball park because it is no good listing low because the buyers can afford to go up and the higher buyer thinks it cannot be anygood for the lower price. Very tricky, our sale got bagged slightly in the telegraph the week later as not being affordable at all but hay! we honestly was stunned and the buyer turned up on the day, unknown and unannounced to the agent and bleweveryone away!
Click to expand...

Hi Peter,

Still cant see why an agent should be able to say estimated price of 750-850k for eg when the vendor has set a reserve of $1.1mill :confused:

julie
 
Quite possibly the agent did not know the reserve. The vendor only needs to tell the auctioneer so maybe the agent was as confused as the rest of us.

10 Telopia is just near the little park at the corner of Telopia and Burke. The front is grey and its a modern terrace (built around 2 years ago). It should have rear lane access but I have not checked. The lane at the rear of Telopia street is a bit on the dingy side.

There is 10 and 10a telopia. Both look exactly the same.

Seeing a few doors down got $1,071,000 a few months back (great house), I would expect around the same. People seem to love these modern terraces so the auction shall be interesting.

Edit: I was just checking the virtual tour (living room). If you look behind the studio laundry, you can see a Red bricked block of units. I am thinking this terrace runs into the back of the units hence no possibility of parking. If this is true I would seriously reconsider what I think this place is worth because parking in the street in any inner city suburb is a big no-no for me.
 
thanks gumball,

might check this one out - wonder why they say one carspace. layout is a litte odd with kitchen in centre - think it spoils the open floorplan entertaining option but will reserve judgement till i see it :)

what was so great about the one next door by comparison?

if this goes for over $1mill, all of a sudden the baptist street option looks good ;)

julie
 
I did not notice the car space mentioned on Mcgrath's site. Hmm I will check this one out ASAP and see where it is...

The place a few doors down (towards Baptist) was excellent. An original Victorian terrace nicely rennovated mixing victorian and modern design.

The difference between the "shop" and 10 Telopia is size. Telopia terraces on the north side are much larger (wider and longer) with plenty of garden space. And they are in a quite cul de sac where as the "shop" was on a busy road. I think its possible that 10 Telopia could reach 1.1 depending if the bidding is tough on auction day. Even without seeing Telopia Street I would think that it would be worth at least 100 - 150 more than the "shop". Maybe more.
 
Still cant see why an agent should be able to say estimated price of 750-850k for eg

Hi Julie

Niether do I. Perhaps the seller did not tell the agent their reserve. remmeber it is the seller that sets the reserve and many are nervous to advise agent before and some ar greddy. Did it sell. I can't remeber the posts?

Peter
 
Peter, To our knowledge it did not. Could be worth checking domain tommorrow to see if anything is mentioned. I shall have a chat to some of my neighbours if possible and see if I can find out what happened:cool:
 
unit market in redfern

what's the go on this type . Selling otp at $490 2 bed to 700k for penthouse/large 3 bedrooms near syd tech park & station..??????????

compared to others this price seems to be good

any one?
 
I have a few Apartments there in east redfern
where i bought years ago
now its worth about 600K for a 2 bedroom apartment

this is just the bank valuation

Regards
Jerry
 
Yep I inspected 10 Telopia Street. Was very nice. The car parking is out the front. Knock down the front fence, pull out the garden and a car will fit. hmmm.

The attic (main bedroom) was beautiful. The kitchen was strange and made the living area feel small.

I heard the agent say $850. Hmm I thought more but upon looking at the brochure I noticed the terrace is only 4.1m wide. Thats quite narrow.

Was anyone else there on Saturday? There was quite a few people going through but alot were the usual regular faces at Redfern Auctions and inspections:)
 
Hello Alpina,

I inspected 1 Walker Street, Redfern last Saturday 15/11/03 (the last time I went through this property was when it was sold I think for $241k in 1994).

http://www.realestate.com.au/cgi-bi...7&f=0&p=30&t=res&ty=&snf=rbs&cu=&fmt=&header=

This is 2 bedrooms plus a small study, good kitchen and living area out back. I like it because it is a simple honest property, nothing too fancy. $550k to $600k my estimate.

I also inspected 40 Walker Street Redfern.

http://www.realestate.com.au/cgi-bi...4&f=0&p=30&t=res&ty=&snf=rbs&cu=&fmt=&header=

Am sorry that I did. The agent handed out white dust masks and dripped lavender oil onto the mask before you went in. The reason: house had been owned by an elerly couple who kept up to 20 cats and dogs inside. Absolutely appalling stench of animal urine and faeces. Carpet on the steps to first floor was drenched in urine. The previous occupants really needed a visit from social services and from a health inspector. I'm still trying to get over the experience. A demolition job though it has a deep backyard with street access for parking from Centre Strret behind. Land value less demolition costs imo. Under $300k my estimate.

Also inspected 26 Young Street, Redfern.

http://www.realestate.com.au/cgi-bi...1&f=0&p=30&t=res&ty=&snf=rbs&cu=&fmt=&header=

I had inspected this about 2.5 years ago where it sold for around $535k. 2 bedroom though second bedroom is small (main bedroom in roof). Parking and trendy, very well finished-I reckon this could sell for for high $600's up to low $700k.


Also looked at a property at 36 Marriott Street Redfern opposite the shopping centre carpark. I'm cautious about properties in this part of Marriott Street as trucks reverse and unload goods for the supermarket late at night (quite noisey).

http://www.realestate.com.au/cgi-bi...1&f=0&p=30&t=res&ty=&snf=rbs&cu=&fmt=&header=

Am pretty sure the previous owners were an elderly Italian couple judging by the colours/archway and large collection of figurines on display. The property would benefit from some changes to paint colours and knocking out the archway. The property could also easily be accessed by people (however not cars) from the rear (a bit too easily imo so security could be an issue). Quite a well maintained property though. Would aniticipate around $550k.


Cheers Ajax
 
gumball,

overall outlook good (street wise, views, natural lighting etc)? knock down the front garden huh? :) do you see much use for the external studio? how effective is the courtyard and is the external laundry a disadvantage?

thought the same of the kitchen when i saw the pictures.

so do you prefer it to the baptist st one and do you think its worth more?

as it typical of a mcgrath listing, im sure a lot of people walked through the place - they are very good at that :)

might try and see it over the weekend

any other good properties in redfern that you saw?

julie
 
Plenty of natural lighting. Maybe a little to much though (I like the dark!!).

I liked the laundry. Would make a good home office.

Compared to the shop:
I am not a huge fan of the style of the shop. I really did not like it much so maybe I am not the best person to ask.
If I had the choice of the two as an IP or my own place I'd take Telopia anyday. I really liked the main bedroom.

Ajax u saw lots on Saturday - wow. I was looking at a quirky edgecliff terrace and on the way home noticed Telopia was open and stopped in.

Oh I noticed that another house is up for sale in Kepos. A single story in what looks to be poor condition. Had enough of inspecting so maybe next weekend. Some small real estate agent selling it.
Edit: Link to Kepos House:
http://www.domain.com.au/listing.aspx?mode=buy&id=2004145451
 
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A mate is interested in 40 walker!!

He is looking for a cheap house that needs work. Hmm is it fixable? I road past on my bike this arvo and it looked ok from the outside. I didn't like walker st, to much commission. Are they removing some of the commision?

Probably will look at it on saturday - I have my own facemask:)
 
Hello Gumball,

40 Walker Street needs lots of work. Many floorboards missing and/or damaged by urine from previous occupiers cats and dogs. Kauri floorboards but ruined. Stairs would probably need replacing and are threatening to collapse. There is no kitchen to speak of. Internal walls did not look good. The building shell is possibly ok though urine/excrement from pets would have got into the subfloor area and into the cavity between the ground and first floor. You would have to dig out the earth below the ground floor to remove some of the smell.My thoughts at the time were that no tradesman would work there.

The outer buildings-laundry and toilet area looked marginally better.


Cheers Ajax
 
Originally posted by Ajax
40 Walker Street needs lots of work. Many floorboards missing and/or damaged by urine from previous occupiers cats and dogs. Kauri floorboards but ruined. Stairs would probably need replacing and are threatening to collapse. There is no kitchen to speak of. Internal walls did not look good. The building shell is possibly ok though urine/excrement from pets would have got into the subfloor area and into the cavity between the ground and first floor. You would have to dig out the earth below the ground floor to remove some of the smell.My thoughts at the time were that no tradesman would work there.

The outer buildings-laundry and toilet area looked marginally better.
Click to expand...

Sounds like a great reno op!

It's the sort of property I like ;)

Cheers,

Aceyducey
 
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