Strange Frankston North property

[Mindmaster]

On the surface, this place looks place looks good. 256k, 600m block, powered bungalow out the back, 2 story 3 bdrm, reasonable location etc etc

http://www.realestate.com.au/cgi-bi...r=&cc=&c=55802524&s=vic&snf=rbs&tm=1246203334

google map location
http://maps.google.com.au/maps?f=q&...145.159539&spn=0.000467,0.000862&z=20&iwloc=A

but.....

Try using the map and zooming in till the block that house is on takes up around a quarter of the screen/box. Still looks ok. Now switch to satelite view. Notice anything strange???

Looks like that building is on two blocks and is shared. Shared by the block in question and the corner block with that pool in their yard.

 

[newhigh]

satellite imagery analysis

You are so meticulous, I'm tempted to assume that you are in China, presumably working for ASIS or the ONA. Don't get arrested.

About satellite imagery: remember, in the 60s, CIA satellite image analysts mistook the round houses of Yunannese tribesmen for missle silos! Don't overplay images. Get the trusty real estate agent to clarify your concerns. That is what they are employed to do.

Time is not on your side. According to Domain, there are only 9 homes listed for sale in North Frankston. Six months ago, there were around 40.

 

[AlmostBob]

the map reference (top of the map) states, "found suburb location only" the street view of the zoomed street Juniper court, does not contain any 2 storey houses, wrong map

real estate agents,
too stupid to put an address on the ad,
somebody might buy it.

if brains were dynamite, wouldnt have enough to blow a hat off

 

[newhigh]

Could be wrong here, but it looks like a former state housing commission UNIT, in a block of two. I don't think it is a house. Apologies if I am wrong. The pics failed to load properly.

Could be hard to develop thi ssite - better value elsewhere IMHO.

Agents should be compelled to disclose if a house is, in fact, a unit.

 

[buzzlightyear]

Andrew Milne RE never put addresses in their ads. Frustrating and which is why I would not even contemplate buying (or selling with them for that matter) from them, because I can do a lot of my DD by looking at Google Earth, DSE (Vic gov map data) in 5-10 minutes I'll move onto the next property. I know RE's rationale but I don't find it a compelling one. I hope you are listening Andrew Milne RE.......Back on topic now..

Mindmaster unless you get the address, I can guarantee that the info and map you are surely not looking at the right block. You may have to ring/email Ken to find out the address.

 

[Ms Jade]

Andrew Milne RE never put addresses in their ads. Frustrating and which is why I would not even contemplate buying (or selling with them for that matter) from them, because I can do a lot of my DD by looking at Google Earth, DSE (Vic gov map data) in 5-10 minutes I'll move onto the next property. I know RE's rationale but I don't find it a compelling one. I hope you are listening Andrew Milne RE.......Back on topic now..

Not quite back on topic - sorry. I just wanted to concur with your feelings about this agency. I too pass over the listings with no address. Actually, it does the vendors a disservice. I have always associated no address with "problem address." Over the years I have seen that the listings with no address are often 'cos it's on a main road. If it's on a good road it's a selling point!! - i.e. You should advertise it.
....And NOW back to the topic...

 

[Leikela]

I agree that not putting an address on a property is very frustrating, but I don't completely overlook it. Just a quick e-mail to the agent and they often tell you. Years ago when I was still in school I worked part-time for a real estate agent and it was their policy not to put addresses on ads. I think it had something to do with they wanted potential buyers to speak to a sales person (so they could persuade them into buying it no doubt) and to go and view the property with an agent, rather than just drive by it themselves without any chance of being talked into the property. I agree, that not putting the address does more harm than good for the vendor however.

 

[Harris]

Agreed that without an address it could be rather frustrating for a quick DD..

However, Andrew Milne over the last 2-3 years appears to be the only agent which has grown the most and conducts most auctions/ sales. He started quite small and compared to a number of agencies with 3 branches and 30 sales staff within Frankston, he appears to have done very well and perhaps sells most out of any other Frankston agency.

Having said that, I got his agency to manage my frankston portfolio and then took all the business away to another agency and then the third one..

Always thought that the fault lines lie with the property managers for our horrible tenant run, however after 3 years of Frankston-tenant-management, I have finally concluded that it is the quality of the tenant rather than the agency that I have to blame as the major factor. Prop managers are secondary to my problems.

Some of the tenants have been excruciatingly painful however in the bigger scheme of things I have decided to keep all the portfolio and opt-out of any fire-sale option.

In the long marathon that property investing is, it pays off to put up with these hurdles... Just a couple of years of double digit growth does wonders to those tenant-induced-injuries and the net gain in equity and compounding growth is very very sweet !

Harris

 

[Mindmaster]

For some reason the map in re.com for that listing is now missing the little marker.

It is at the corner of alpina st and brunning crescent.

Here is the google map link

http://maps.google.com.au/maps?f=q&...145.159539&spn=0.000467,0.000862&z=20&iwloc=A

 

[marg4000]

Looks like a duplex to me - one entrance from each street.
Marg

 

[Property Meister]

Andrew Milne RE never put addresses in their ads. Frustrating and which is why I would not even contemplate buying (or selling with them for that matter) from them, because I can do a lot of my DD by looking at Google Earth, DSE (Vic gov map data) in 5-10 minutes I'll move onto the next property. I know RE's rationale but I don't find it a compelling one. I hope you are listening Andrew Milne RE.......Back on topic now..

Mindmaster unless you get the address, I can guarantee that the info and map you are surely not looking at the right block. You may have to ring/email Ken to find out the address.

+1 for me,

whenver I see an ad with no address, I skip over it,

its because they want you to contact them directly so that they can get you on their territory,

sorry but I cannot stand this, having to call up just to find out the address,

so whenver I see a no property address, unless it looks like The One, I will skip it and look no further

annoys me to the end

 

[Harris]

If majority of the potential investors would avoid looking at an 'un-addressed property', I suppose that should be the very reason an astute investor should call and enquire.

Far less competition.

Harris

 

[MTR]

Funny, how we all think on different levels.
If no address listed I assume location is poor, sometimes after phoning this has actually been the case.
On another note, the thing that most annoys me is when the size of the block is not listed.

Cheers, MTR

 

[Harris]

I dont think 'location' is ever the reason for not including the address. Some agents dont have address (like Andrew Milne) for any / all properties listed.

Typically agents that either want a call made so that they could sell the benefits to the person on the phone or are scared of other agents contacting the vendor in case the exclusive arrangement runs out...


Harris

 

[newhigh]

can anyone help Mindmaster?

Agreed that without an address it could be rather frustrating for a quick DD..Andrew Milne.....He started quite small and compared to a number of agencies with 3 branches and 30 sales staff within Frankston, he appears to have done very well and perhaps sells most out of any other Frankston agency. Harris

There was once a freebie website (www.homesvic.com?) that allowed us investors to separate which agents were making the most sales and setting record prices from those who were underachieving. You could type in an agent's name or suburb and see who was selling what, how many sales they had made in the past year and what prices they achieved. Watching the data gave one great insights into agent efficiency and honesty. Hurrah for transparency and efficient markets! Unfortunately, the website that provided this info was shut down due to legal action from lower achieving agents who felt threatened by those who achieved stellar results. The disparity in sales ability was very interesting. In Frankston, the best agents are highly successful and probably earn more than their bosses who often struggle to make ends meet despite their upbeat talk and shiny hire purchase cars. Most local agents, however, don't do very well at all and only manage a few sales per year, if that. I've started feeling very sorry for some of them - it can't be easy doing what they do. Not all are bad people and I guess, like all of us, they all have bills to pay and kids to feed. They know no other way but to put on a brave face and sell houses, soldiering on as best they can and barely making ends meet. Its very sad to see.

I dont think 'location' is ever the reason for not including the address. Some agents dont have address (like Andrew Milne) for any / all properties listed.

Typically agents that either want a call made so that they could sell the benefits to the person on the phone or are scared of other agents contacting the vendor in case the exclusive arrangement runs out...Harris

There is one firm out there that won't even reveal agents mobile phone numbers on its adverts. When you call the landline nominated in the advertising copy, you get to talk to an icy receptionist who demands to know all your details so his lordship, the owner-agent, can call you back in his own time. When the pompous git calls, often a few days later, most people would have forgotten which house they were inquiring about! Yet another firm does not disclose asking price "Price on application." Can't figure that one out. Perhaps they are embarrassed at the low prices they are achieving and anxious not to upset existing owners who paid more? I know one fellow who pulled his rental properties from a property manager because the firm was achieving record-low sales results compared to other firms. "Why should I pay these guys when they are selling houses for less than what I paid for my own investment property?" he said angrily.

But hang on, this thread was meant to help Mindmaster and so far its going back to the old anti-agent theme. Lets try to give these salesmen a fair go shall we? No more agent bashing and ramping. The good times have returned and we can afford to be more charitable.

 

[oneuppmanship]

On the surface, this place looks place looks good. 256k, 600m block, powered bungalow out the back, 2 story 3 bdrm, reasonable location etc etc

http://www.realestate.com.au/cgi-bi...r=&cc=&c=55802524&s=vic&snf=rbs&tm=1246203334

Remember this place when I looked into Frankston North 6 months or so ago.

I actually remember thinking as I looked from the street, that this seemed a good place for the area - double story and all.

Then, after closer inspection noticed it actually appeared to be a Duplex, not a house. Didn't research this any further so make your own research, but I do remember this place very well.

And...yes, I too can't stand RE's who don't have an address or a price on a place!

Raine and Horne in Frankston are reknown for this, with the agent telling me what we aready know; "why should I waste my time on tyrekickers when I could be selling them something else?!" WOW!!!

I reckon you sometimes DO get better service buying a $20 pair of shoes, then spending $300K on a house.

 

[funkysouth]

There was once a freebie website (www.homesvic.com?) that allowed us investors to separate which agents were making the most sales and setting record prices from those who were underachieving. You could type in an agent's name or suburb and see who was selling what, how many sales they had made in the past year and what prices they achieved. Watching the data gave one great insights into agent efficiency and honesty. Hurrah for transparency and efficient markets! Unfortunately, the website that provided this info was shut down due to legal action from lower achieving agents who felt threatened by those who achieved stellar results. .

Actually, the site you refer to was shut down due to its inaccuracy and was forced by agents who are very good at their craft. Again, you bend the truth to suit your argument. You are worse than any agent I know...
...Secondly... You rant and rave about poor agency in your post, and then have the gaul to mention that the tone of the thread has gone back to agent bashing. You idiot. You are the Hypocrite behind the smear campaign on Frankston Agents, you post stupid untrue things on Twitter and are known around town as a serial pest. Go start your own thread and call it "I like the sound of my own voice and I am the best property investor in the world" You could reply to your own posts and beat your own chest. Im sick of having to sort through your garbage to read the intelligent posts of other 'astute' investors.

 

[Mindmaster]

Remember this place when I looked into Frankston North 6 months or so ago.

I actually remember thinking as I looked from the street, that this seemed a good place for the area - double story and all.

Then, after closer inspection noticed it actually appeared to be a Duplex, not a house. Didn't research this any further so make your own research, but I do remember this place very well.

Thanks oneuppmanship. That's my opinion as well, a duplex. Very surprised to have a duplex on a 600m block. Must have been a small mansion a number of years ago on a very large block that was subdivided.

I's say the word duplex is left out of the advertisement because it would put people off. Definitely put me off.

 

[AlmostBob]

the duplex sits on 2 600m blocks

 

[newhigh]

you post stupid untrue things on Twitter and are known around town as a serial pest. Go start your own thread and call it "I like the sound of my own voice and I am the best property investor in the world"

This thread was about trying to help Mindmaster. You are an agent, if I recall correctly: can you perhaps suggest some good streets he can buy into? I have never once been on Twitter as I have nothing to sell or promote. I am not sure of what you are going on about. And if I were really the world's best property investor, I'd be living in Manhattan or Knightsbridge, not the modest idyll that I currently call home.