Sinking house!
- Thread starter Jacque
- Start date
Hi Jacque
Wow! that's around 12% up on market.
Do you think that it was a "one off "or is there that kind of strength starting to appear in the market place for that area?
Simon
Wow! that's around 12% up on market.
Do you think that it was a "one off "or is there that kind of strength starting to appear in the market place for that area?
Simon
simonjulie said:
In MHO, it was a "one off", generated largely by an expensive auction campaign, the fact that it was a MIP sale and the lower end of the market for this area. This is always going to attract more interest- I really feel it wouldn't have achieved it had it been a run of the mill PT sale without the tag of MIP as the promise of a "bargain" property.
Just to put it into perspective, of the 11 auctions on the night, it was the only one that actually sold. Except for 3 which passed in on genuine bids, all others were PI on VB's.
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Thanks Jacque
I am not familiar with that part of Sydney.
I was talking to an agent in Forestville yesterday. He said there are lots of buyers out there but they seem to want specific types of property (4 bed 2 bath on level blocks). He said he is starved of listings fitting that critieria.
Simon
I am not familiar with that part of Sydney.
I was talking to an agent in Forestville yesterday. He said there are lots of buyers out there but they seem to want specific types of property (4 bed 2 bath on level blocks). He said he is starved of listings fitting that critieria.
Simon
Jacque said:I missed out to a very emotional group of buyers who paid $553K for it!
Dave, I know you can appreciate how much they overpaid
Never mind, I did my figures and had my walk away price. Didn't even get to bid on this one! Maybe next time......
Oh my god you have got to be kidding !!!!
I thought you meant it was 60k over value of what you were willing to pay...going on that your PPOR would have to be worth 700k
(well not quite but you know what I mean). The house was on a main road, needing a fair bit of work as well.
I think if I ever sell my house I may have to make it a mortgagee sale to generate the extra attention this one got - obviously the people overpaid as they thought they were buying a bargain????
Unbelievable !!
