seaford vic gaining?

[Harris]

It's easy Harris. I love making money. But not at any price, I have a sense of ethics (do you?).

I don't like it when elderly or uninformed people are ripped off in the style of the videoclip I posted above. Please view it - you'd learn a lot. I went to some trouble to post it so others would learn from it.

So yes, I love a bargain. Maybe someone who has been transferred to another city and needs to sell in a hurry might just be my cuppa tea.

But NOT some elderly granny who is conned by some slick agent who tells her that the world economic crisis is going to cause her house value to halve so she had better sell now.

Got a sense of ethics mate? I do.

Lets hope nothing like what happened to those people in the video happens to someone vulnerable in YOUR family.

You go hunting with the hares, hounds and sharks Harris. Thats the dog-eat-dog society in which you clearly belong! Happy investing. I'm sure you will make a lot of money with your kind of thinking.. Maybe a few of the crooked local real estate agents you are crawling up to will give you a friendly helping hand along the way. To come to think of it, I reckon you'd do very well as a real estate agent yourself - you sure have the right attitude for it.

Re-read my post again.... S-L-O-W-L-Y...

Bobbiemenzies...without having another emotional fit, understand what I am trying to highlight.

You cant change the world by whining non stop about agents. Your whinging doesnt produce any results. It just contaminates otherwise positive threads where we are all talking about how we can maximise buying and value adding opportunities.

What you dont understand is that when you get started on your agent bashing, it DOES NOT serve any purpose. It just gets agents or others to start defending what they do and then it gets personal and the whole thread degenerates.

You should see what those discussions have achieved for other forumites when each diatribe ending up in name calling and petty content that no one is interested in listening to.

As far as your personal attack and name calling is concerned, I will just ignore that juvenile drivle . It speaks more about you and your inability to carry yourself professionally than anything else.

Harris

 

[bobbiemenzies]

* The lack of professionalism - I leave that to the real estate agents.

* Being silent when elderly people are ripped off by local agents - I leave that to you Harris. As you say, we can't change the world by complaining. Nevertheless, I wonder how you'd feel if this happened to someone in your family? Perhaps you'd be emotional then.

* Making money - we all do that when we buy locally. It's a no brainer, as they say

If you are buying/selling locally, beware the commission chasing rogue agents: Harris is right in that there is no alternative but to deal with them

Yes, lets move on. Does anyone have any news on the state of the market?

 

[funkysouth]

The Market

The Market is great...

 

[JulieW]

Seaford looks particularly well.

This could be worth a look:
http://www.realestate.com.au/cgi-bi...r=&cc=&c=24311304&s=vic&snf=rbs&tm=1255411674

Opinions from the Seafordites?

 

[pickle pickle]

Price is low. But it is behind a freeway. Will always be one of the cheapest properties in Seaford.

 

[bobbiemenzies]

a good cheapie

Julie, it is outstandingly cheap, and all the potential negatives seem to have been priced in. A great investment, provided the title is clear of any government road reservations that may eat into your land (ask they lovely agents, they should be able to tell you the facts here.) Noise shouldn't be a huge issue - the best way is to go there and listen for yourself. The house is also not zoned for dual occ because it is less than 600 sqm. But who cares? Whatever the negatives, at this price, it will come close to paying from itself once market rents are taken into account. If this was located anywhere else in non-beachside Seaford, it'd cost up to $60k more

This is also very cheap: http://www.realestate.com.au/cgi-bi...r=&cc=&c=16236994&s=vic&snf=rbs&tm=1255432949

But it only has 2 bedrooms and, again, doesn't have dual occ potentiality. How to add value?Maybe it's possible to put up another room or use the separate? lounge as a bedroom? Renting out the rooms individually, if they are three, will yield $300pw. Renting it out as-is should easily get you $250pw. Plenty of land there to construct a bungalow, which the council will probably allow.

 

[GordonGekko]

Seaford looks particularly well.

This could be worth a look:
http://www.realestate.com.au/cgi-bi...r=&cc=&c=24311304&s=vic&snf=rbs&tm=1255411674

Opinions from the Seafordites?

Hi Julie

i just had a look at that property you mentioned... i was inside.. i was given the whole spiel about how it was a mortagee sale (owned by NAB) and that its been to auction and that they gotten a lot of low ball offers ... the bank (according to the agent will accept 252k) ... the previous troublesome tenant had a dog... inside! .. the smell of dog is still there... its very bad.. so you need to replace the carpets.... and you also need to replace the kitchen except the near new stove and the new dishwasher .. the rest is worthy for the bin....

also you defenately need new carpets , new windows and well the celings are naked white painted beams , so no "conventional' plaster boards there...

also the backyard has a very old shed that needs to go too .. and you do notice the traffic from the freeway (i guess if you live there long enough you wont hear it) but these days i guess you get what you pay for.

soo put in about 20K and some knuckle grease and find a great tennant then that would be good..... oh im not gordon gekko sr. im actually jr. (not affiliated).

also my thanks to this forum back in the days of 2006 i was buying my PPOR in frankston north against all my friends advises... do i need to tell you how the story ends? 35% growth in 3 yrs. mmm.

i was thinking about buying it for myself but since im not bob the builder i probably wont.. if they said yes to 240k i would have bought it.

sincerely yours

GG. jr.

 

[newhigh]

more gains to come

also my thanks to this forum back in the days of 2006 i was buying my PPOR in frankston north against all my friends advises... do i need to tell you how the story ends? 35% growth in 3 yrs. mmm.

Glad you are making money! Keep at it. Thanks for contributing - it is from people like you posting here that we ALL learn. I think the gains you've made are small compared to what you will realize in the next 3 years.

 

[Peter Parker]

40A Station St, Seaford now has a sold sticker. This deceased estate was to go to auction but sold before.

This was an odd weatherboard place on a rear battleaxe block that needed some work. Also the poor upkeep of the house in front reduced its street appeal.

Despite the busyish street its location was good and superior to places at the Kananook end of the suburb.

They were quoting $220k+ but I believe it sold for substantially more.

 

[pickle pickle]

http://www.realestate.com.au/cgi-bi...t=&header=&cc=&c=39844924&s=vic&tm=1255752937

Now they are advertising for $245,000. Surely if someone was to offer $240,000 they would take the offer. GordonGekko, maybe they'll contact you if you made an offer of $240,000 for that place.

If someone is a handy man, u could make a small fortune of that property as everything in Seaford is pretty much over $300,000.


Be interested who buys it.

 

[Harris]

http://www.realestate.com.au/cgi-bi...t=&header=&cc=&c=39844924&s=vic&tm=1255752937

Now they are advertising for $245,000. Surely if someone was to offer $240,000 they would take the offer. GordonGekko, maybe they'll contact you if you made an offer of $240,000 for that place.

If someone is a handy man, u could make a small fortune of that property as everything in Seaford is pretty much over $300,000.


Be interested who buys it.

Not sure if any fortunes can be made from this property. It is VERY close to a very busy freeway. Unless someone buys it for long term.

There are noise issues, sunlight (or lack of), big eye sores (with the noise blocking walls) and then substantial work on the property is required.

These properties take a lot longer to sell, will get average rent (below median) and are not ideal for a quick-do-up-and-flick-back type scenario.

Harris

 

[pickle pickle]

Harris,

The position isn't the best. I don't know how much it would cost to make that house nice, but say someone was to buy it for around $230,000 with a view to holding it for a year. Then spend $20k doing it up. Then try and sell it for $320k. If we add about $15K for holding costs and another 20k for buying and selling costs, we've got a profit of $35,000 for a year. Then there's tax.

Yeah your right Harris. Need to get this property down to $210-$220, then money could be made quickly. Not my cup of tea, but can see the potential.

 

[bobbiemenzies]

adding value to ultra-cheapies

In relation to the above link- this house can more than pay for its mortgage costs, if done right. I'm told that the previous owner had a caravan at the back of the house that he rented out to a male student for $100pw. As it was tucked out the back the council was ok with it - they are unlikely to fuss unless you upset the neighbors or create any public health concerns.

I reckon if you spend $20k on the abovementioned house to make it look good, you'd get a decent rent return to the extent that the house could yield enough money to pay for itself. A straightforward way to add more value within a week of buying would be to convert the monstrous rear garage into a bungalow. Gyprock the interior ($500 if you do it yourself) and you have an instant double room that you can rent out to a student - again another $100-150pw if you don't mind them using your toilet and bathroom!

Sadly I am too busy to contemplate this sort of thing for myself. Too busy to chase students for rent.....too weary to do the interior reno and too poor to hire anyone to do it for me.

Here's another ultra-cheapie with reno potential for those with time on their hands to add value:

http://www.realestate.com.au/cgi-bi...r=&cc=&c=60846130&s=vic&snf=rbs&tm=1255763550

How to add value? This one needs a cheap tin garage garage (max cost $2000). Whack on a cheap patio and sleepout on the back $15k max. Lo and behold it is now a 3 bedroom home! And there's still plenty of room in the backyard for an additional self contained bungalow - the council is really generous in allowing these nowadays. Ceteris paribus, I reckon rent from this one would be able to pay the mortgage if one had the time to do the reno without using tradesmen. A better location as well.

Ah wish I had the time to do these things myself.....

 

[ramzd]

A 10.4% annual increase for Seaford.

http://maps.google.com.au/maps/ms?h...37.72728,144.928894&spn=1.609721,2.447205&z=9

 

[JulieW]

Is there any way of determining the relative values of areas within the suburb, or does this increase indicate that across the suburb prices have generally increased.
For instance someone posted that the St Kilda Footy Club development area has increased. (anecdotal evidence). Is it likely that 'hotspots' occur within the suburb which artificially raise expectations in 'cool spots'.?

 

[ramzd]

The price across the suburb has increased, but it would be at different rates across the suburb. For the Belvediere Park area, prices have definately gone up. I have been tracking the prices of houses in certain streets close to this area...ive been doing this for the past 18 months or so. In one particular street, a property that would have sold for 330K-350K about 18 months ago, was recently sold for 370-380K.

 

[JulieW]

Has anyone a link to information about the Belvedere development plans or progress, or is it like 'the Marina' still waiting on a local dignitary with a silver shovel? lol

 

[bobbiemenzies]

Has anyone a link to information about the Belvedere development plans or progress, or is it like 'the Marina' still waiting on a local dignitary with a silver shovel? lol

Apparently, respected property gurus Terry Ryder and Margaret Lomas have been buying in the area recently. Seaford and Frankston are both on their hotspots list. No mystery there. The cheapies in these suburbs are selling for around 40% below that of the general Melbourne median.

But, like yourself, I want the best deals. I'm trying to find out exactly where these gurus bought (streets, prices etc). If anyone can help me get this info, I will be very glad.

I like cheap beachside suburbs and Seaford and Frankston are on my radar IF I can get some ultra-cheap deals. Ideally, I'd like to get in BEFORE the marina construction starts and prices run away.

Again, if anyone has info about exactly where in Frankston and Seaford gurus Margaret Lomas and Terry Ryder bought, I'd like to hear from you. Very interested in locations, prices etc.

 

[Brando22]

Not sure about where Terry Ryder and Margaret Lomas have bought... having said that I have noticed something interesting in my local area of Frankston South.

Frome street which is just a few streets back from the hospital has had quite a few homes that people always suspect as being commission houses..they all look the same and are box like weatherboard homes..quite small on large blocks. They were actually built as homes for the railway workers when extending the rail line in years past. They are quite ordinary to look at.

I have been here ten years and just recently noticed that many of them are being bought up and bulldozed....in my local area I counted 13 empty blocks with safety fencing...

I knew this would happen one day as these homes have always been sold for bargain prices..and the location here it top notch.... makes you wonder eh..

 

[ramzd]

Hi Julie W,

For your information, I have attached a link below. Work on the project is well under way, in fact it started about 3-4 months ago. It is expected to be finished in 2010, and the St kilda football club will relocate there then....here is the link...have a look at the plans and concepts link, as well as the local benefits and media reports links....

http://www.saints.com.au/frankston/tabid/10904/default.aspx