I have a block at 53 Bailey Street Trigg which I bought with the intention of building a family home (Have council approved plans for double storey) My circumstances changed through a marriage breakdown and the property was put on the market in early 2008.
There was an offer at $1.2 million which at the time was $200k below market value ... The block was taken off the market mid 2008 and put back on privately about a month ago.
Prices have come down in Trigg and the best we have been told we can get is now is $900k - $1 mill
A local agent has said that building a $500k home on the land would put end re-sale value at $1.7 - $1.8 million. I just don't have the time to go through building right now.
The market is starting to turn around and agents are telling me to just sit on it for 12 months at which time the price should be back well above $1 mill.
If anyone on this forum (or if you know someone) is looking to move into this fantastic beachside suburb or an investor at the higher end of the scale is looking for a spec please send me a Personal Message ... I would consider all offers above $900k.
Joe
There was an offer at $1.2 million which at the time was $200k below market value ... The block was taken off the market mid 2008 and put back on privately about a month ago.
Prices have come down in Trigg and the best we have been told we can get is now is $900k - $1 mill
A local agent has said that building a $500k home on the land would put end re-sale value at $1.7 - $1.8 million. I just don't have the time to go through building right now.
The market is starting to turn around and agents are telling me to just sit on it for 12 months at which time the price should be back well above $1 mill.
If anyone on this forum (or if you know someone) is looking to move into this fantastic beachside suburb or an investor at the higher end of the scale is looking for a spec please send me a Personal Message ... I would consider all offers above $900k.
Joe