Speachless!

skater

skater

On the weekend, we looked at a couple of properties that were fresh on the market. At one property we were out the front waiting for the Open to, well, open. There were around 50 other people in the front yard. This was for a mediocre place in 2770.

Another place we looked at, had photo's that depicted an average home, but when we got there, it wasn't great at all. Pretty crap really! Crap house, next to crap neighbours. I was honest & told the Agent that we were there simply to compare to the next one we would be selling & would love to know how much it sells for. This was a 3bedder & ours is a 4 bedder.

Well, blow me down! Hubby just rang me. He's been talking to the Agent! It sold for $411k! Of course, it's not unconditional, but sheesh, that was totally unexpected! This has gone beyond the realms of stupidity now.:eek:
 
dex said:
I thought you already started a thread about this topic recently?
Click to expand...

That was about selling a property for a high , but in the current market , realistic price .

I think this one is something that would have been selling for 170 five years ago , correct skater ?

Btw , you're not implying skater is hyping 2770 ? !!!!


Cliff
 
Edmond Dantes said:
"Speechless" (typo) :)

well, good result for you! prices are crazy...
Click to expand...
LOL! I hate typo's too.

Not for me, I was just looking. I've got to wait for tenants to vacate before we can sell.

dex said:
I thought you already started a thread about this topic recently?
Click to expand...

No! Well, I suppose it could seem that way, but this was mainly for just for this one crappy (and I mean CRAPPY) house. It just astounded me so much, it was worth it's own thread.:eek:
 
see_change said:
That was about selling a property for a high , but in the current market , realistic price .

I think this one is something that would have been selling for 170 five years ago , correct skater ?
Click to expand...
Spot on Seech!

Btw , you're not implying skater is hyping 2770 ? !!!!
Click to expand...

LOL! I hope not! I want it to stay hot, hot, hot until we've got the next one ready to sell. :D

Come on tenants! Pull your fingers out & find somewhere else to live.:D
 
skater said:
Yes, I'm concerned that it may peak before we get the next one ready. I hope not!
Click to expand...

If the prices keep surprising you then there is a good chance the others were sold too early / too cheap :)

If another interest rate comes in the next two months there will be enough time for you to sell - looks like next spring will be the peak.
 
Tonibell said:
If the prices keep surprising you then there is a good chance the others were sold too early / too cheap :)

If another interest rate comes in the next two months there will be enough time for you to sell - looks like next spring will be the peak.
Click to expand...

Not necessarily! While yes, it would be nice to get more for the ones already sold, we sold when it was the best timing for us and we are more than happy with the result. There's more to it than just saying it was too early, or too cheap, and if you are too greedy and leave it for too long, you miss out altogether.

I don't have a crystal ball, so I'm more than happy to take some money off the table at above double the purchase price, because you don't really KNOW when you are at the peak. It's also good, when selling multiple properties to spread the CG over more than one financial year.

I know this market, and there is more heat here than there was during the last boom.
 
see_change said:
Seriously !!

Mm , interesting .

Cliff
Click to expand...

Well....let me put it into perspective. Some properties don't get the same interest as others. Some agents seem to get a huge turnout with multiple offers, while others do inspection by appointment, and appear to get lower prices, with properties not selling immediately.

Now, this could be the same as last time, but the difference here is that last time, I was looking for the BAD selling agents, while this time I'm looking for the GOOD selling agents.

Plus, last time there were still housing dept auctions, which I used to go to, to watch the feeding frenzy. People paying top dollar for a burnt out shell, & the Agent then taking the underbidders around and selling his other stock.

We don't have this, this time.
 
skater said:
On the weekend, we looked at a couple of properties that were fresh on the market. At one property we were out the front waiting for the Open to, well, open. There were around 50 other people in the front yard. This was for a mediocre place in 2770.

Another place we looked at, had photo's that depicted an average home, but when we got there, it wasn't great at all. Pretty crap really! Crap house, next to crap neighbours. I was honest & told the Agent that we were there simply to compare to the next one we would be selling & would love to know how much it sells for. This was a 3bedder & ours is a 4 bedder.

Well, blow me down! Hubby just rang me. He's been talking to the Agent! It sold for $411k! Of course, it's not unconditional, but sheesh, that was totally unexpected! This has gone beyond the realms of stupidity now.:eek:
Click to expand...

Not surprised. December last year and January this year I've been going to properties in that area.

Pretty much all open houses in that area had 50+ people checking the properties and pretty much was under contract by the end of the day. Quakers Hill, Colyton etc. Was looking at one Whalan and damn there was a line of 100 (I'm not exaggerating at all) people waiting out front, and you could barely move inside even with the staggered entry.

When you see areas like that with that many people interested you definitely know there's too much hype. Checked out Campbelltown area and it was getting heated to a similar degree. Even around Gosford a nice place had about 50+ people lining up waiting to inspect.

It's ridiculous.
 
I'm not at all surprised by the amount of interest. What floored me was the price! Especially as it wasn't a 'nice' property. Very rough around the edges! Another that we looked at went for $468k. It was a lot nicer.
 
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