Sunshine results today

Discussion in 'Property Investment - Other' started by pickle pickle, 18th Apr, 2015.

  1. pickle pickle

    pickle pickle Member

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    Was in the sunshine area all day today. Below are the sale results I learnt today

    http://www.realestate.com.au/property-house-vic-sunshine-119180995

    Property above was a weird auction. Apparently there were bids on them but I couldn't tell from whom as well as people around me. Got passed in at $590,000. Wasn't surprised it got passed in.

    http://www.realestate.com.au/property-house-vic-sunshine-119307643

    This property sold for $571,000. In the Matthews Hill area.

    http://www.realestate.com.au/property-house-vic-sunshine-119360771

    This property sold for $646k. This was a very unique property. A corner block, however you can't drive around the corner as it is a footpath. So really highlights that the property is on two streets. Land size is over 600 square metres.

    http://www.realestate.com.au/property-apartment-vic-sunshine-119475231

    Wanted to see this property. Went to the open inspection and it was cancelled. Rang the agent and told it has been sold close to $240k. The block of units is next door to a petrol station. I was plenstly suprised when I was told it was sold.

    http://www.realestate.com.au/property-house-vic-sunshine+north-119397211

    This property sold for $457k. I wasn't impressed with it's position and the purchase was just a land purchase. The house (not location) was the house in the worse condition that I saw today.
     
    Last edited: 18th Apr, 2015
  2. Teshy

    Teshy Member

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    Thanks Pickle for the summary. I was meant to go to couple of the auctions this weekend but got held up.

    Looking at the auction clearance numbers and talking to few local RE agents market is pretty hot atm.
     
  3. pickle pickle

    pickle pickle Member

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    Went to two auctions yesterday in the Sunshine Sunshine West area.

    My thoughts below.

    http://www.realestate.com.au/property-house-vic-sunshine-119520599

    Went for $525k. Agent told me he was surprised by the good result. I thought it was in line with expectation. Had a very keen bidder who did not muck around with her bids. In a nice court. Block is not quite stratight and the house is only a 2 bedroom, but a very nicely done up house.


    http://www.realestate.com.au/property-house-vic-sunshine+west-119520155

    The property is on a nice street and is in the part of Sunshine West that is within walking distance to Sunshine station. I thought this property would go for around $550k. It went for $575k. The bathroom needs a refirub and to be made much bigger. It is a large house for Sunshine standards and it is on a great tree line street that is close to amentities. Some work is needed on the place (especially bathroom) but overrall it is a nice property. Was a bit shocked that it went for $575k, but it is the type of property that might be worth overpaying a little for.
     
  4. Big Will

    Big Will Member

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    You know the REIV post the auction results for each suburb each week on the Sat night?
     
  5. pickle pickle

    pickle pickle Member

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    Yeah I know. As I'm at the auctions I thought to share my thoughts on them. If sharing my thoughts at auctions I attend annoy people than I'll stop posting about them.
     
  6. Mindmaster

    Mindmaster Brendon

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    Don't worry, if some one does not like your thread, they don't have to read it.
     
  7. Big Will

    Big Will Member

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    nah not annoyed I like reading them but wasn't sure if you know about the reiv auction results.

    I only attend the ones around where I live, unless I am looking at buying.
     
  8. S.T

    S.T Member

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    Keep posting them up, enjoy the summary of the auctions. REIV results can be hit and miss anyway.
     
  9. littletee

    littletee Member

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    Sunshine is booming Pickle Pickle, great area to invest in my opinion as close to CBD and Airport etc.

    I currently live in Ardeer which is still playing catch-up somewhat but it's gone up significantly since I bought in 2009 and will continue to reap the rewards of the area going nuts I believe :)
     
  10. ross100

    ross100 Member

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    Good work Pickle pls keep on posting
    Like Sunshine St Albans is going crazy with auction, been to few auctions in St albans and saw people mostly bidding for the land value as some of the house where pretty bad and sell ing for around 400K to 470K for land size 600sq
     
  11. littletee

    littletee Member

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    St Albans (my wife was born and bred there) is propped up by the Vietnamese buyers but as an area with potentially, it doesn't come close to Sunshine and immediate surrounding areas. Chalk and almost cheese in my opinion.
     
  12. pickle pickle

    pickle pickle Member

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    Went to one auction today. 7 hill street sunshine. Went for $524k. I just don't get it. Yes it is new and sort of in matthew hills area but i don't understand why it went for so much. It is near a train line. And it is a townhouse. I probably won't be going to as many auctions now. I have a great story to share out of what happened today. Once it is all confirmed i'll post about it.
     
  13. littletee

    littletee Member

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    Looking forward to the story Pickle.

    The area is HOT right now, looking forward to putting my place on the market in the next couple days and see what happens with it :)
     
  14. pickle pickle

    pickle pickle Member

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    The story keeps getting better and better. Will post details about it on the weekend.
     
  15. pickle pickle

    pickle pickle Member

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    http://www.realestate.com.au/property-house-vic-sunshine-119401859

    The story about the above property. I'll give you the short of it.

    On Saturday offered 450K for the property in writing. Told it was accepted and will have vendors signature on Monday. On Monday told will have it either Monday night or Tuesday morning. Tuesday came, on Tuesday morning/midday told should have the contract Tuesday night. Tuesday afternoon told will have contract Wednesday morning.

    Wednesay morning came and went, no contract. Found out agent I was dealing with was in VCAT. Well offer was pulled using 3 day cooling off period clause.

    Anyway nothing was lost on this has not even a holding deposit was paid (will be more mindful of agent asking for holding deposit next time).

    Was told on Saturday before we made offer after many calls (started on Friday) that an offer of $430k had been put on property but not yet signed. Can see property on Monday. Of course I pushed to see it on Saturday due to no signature and believed it was generally a nice property at the right price (location not excatly the bet, but seems like a good family area). Then told before seeing property $450k won't be enough to buy property, and will go to other buyers (told them before I would offer $450k depent on seeing property). Said I'll see property then make an offer. At property said $450k. Told got it and offered to offer $430k and pay under table (the point of that I didn't know, except to save a bliitle stamp duty).

    Any we are now out of the hunt for that property. Anyone want it, feel free to make an offer, but consider the above.

    Back to the property hunt and going to more auctions. This experience has made me liking auctions more (before I refused to enter them, now I'm considering biddng at auctions).
     
  16. pickle pickle

    pickle pickle Member

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    Went to a few auctions today. Here are my thoughts on them and at the end I'll give my overrall view.

    http://www.realestate.com.au/property-house-vic-sunshine-119728907

    $662,000. In the Matthews Hills estate. Property is nice (for Sunshine standards). On a main road. Was a very long auction as $500 bids were being accepted at around $617,000. As I have said before I don't get the appeal of Matthew Hills, but not the most crazy result today.

    http://www.realestate.com.au/property-house-vic-sunshine-119664847

    $570,000. Yes that's right $570,000. It is a corner block so I guess people are hoping to build 3 townhouses on it. Very close to park and tennis court. House OK, but nothing special. Let's say was shocked by the result.

    http://www.realestate.com.au/property-house-vic-sunshine-119671415

    Got passed in at $445,000. Issue with this property is that yes it is over 600 square metres but is in neighbourhood zone and has heritage overlay. Also very close to railway line. Quite a nice property inside.

    I also heard about the result below.

    http://www.realestate.com.au/property-house-vic-sunshine-119689319

    Just a land sale (on land of 400 plus square metres). House is very ordinary (I have doubts on the foundations).

    So as a whole the Sunshine market is going nuts, especially development sites. I don't see the value of these priices for development sites. Also I am noticing it is really only investors buying the properties. Not home buyers as much. It's hard to pick what the market will do in the future, (I am in 2 minds) but I am concerned if prices can stay at this level considering not many home buyers (my opinion) are not going into the market. If it is investors buying the properties, eventually the figures will have to make sense to sustain these prices.
     
  17. littletee

    littletee Member

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    Definately a hot market in and around Sunshine Pickle.

    Today I held my first open for my Townhouse (http://www.realestate.com.au/property-townhouse-vic-ardeer-119829607) and we had 9 prospective buyers through which was a pleasing result, that was minus 3 people who I was thought would come as they had shown initial interest but didn't for whatever reason.

    Some definate interest including a follow up call in the afternoon from a prospective buyer regarding putting an offer but as we all know proof is in the pudding. Have already received a formal offer of $382k on Thursday night but that was before the first open so am holding off to see what happens. I'm expecting interest a little bit higher than $382k based on today preliminary conversations.

    Good time to sell especially in this area, couldn't of been more happier how today went so we'll see how it goes! :)
     
  18. Deltaberry

    Deltaberry Member

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    Gee the west is cheap. Despite what I think about its prospects, almost worth punting.
     
  19. pickle pickle

    pickle pickle Member

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    Deltaberry, it looks cheap but rental yields are only just above 3%. Being from the east I thought that it was cheap too.
     
  20. littletee

    littletee Member

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    Depends what your investment criteria is delta.

    Massive fan of this area and my opinion still one of the best pockets to buy based on future growth.