Well thank you Mike, I'll remember your post next time I consider placing an opportunity like this. I cannot post all the info I have with regard to the sale, I have a duty to the owner to act in their best interest, and that I will. I provided an opportunity for everyone to have a look at a potential investment. Considering since beginning on the forum around 3-4 months ago I have listed around 60-80 properties for sale and only posted the one property I don't think it could be said I am using the forum for the benifit of selling property. This is the only occassion (I think) that I have referred to a property for sale.
Let's have a look however at your points and I will attempt to answer them all. Sorry for the length of the post but I can only assume by Mike's post that he feels I am either incompetent, incapable or deceptful.
very rare - it is very rare, do you suggest waterfront property is common.
will sell very quickly - I expected it to do so, and if one of the first 2 offers was accepted it would have been completed in 2 days.
truly sensational - it is
too good not to let you know about - I think it is a great opportunity for an investor who is heavily cashed up and return is not so important but cg is.
enormous growth in recent years. -
18 Flinders - Sold 26/6/87 88,000 - sold 15/10/02 $545,000
land val was 345k, just increased to $475k ( up 130k in 12 months - not bad)
162 Flinders - sold 28/1/82 90k - Sold 29/2/00 475k ucv was 550k now 710k up $160k in 12 months.
208 Flinders sold 23/8/01 250k sold 24/12/01 312k 62k in 4 months
248 Flinders sold 12/10/82 68k - 31/5/93 320k ucv 450k now $580k. 1813m2. From the photo i saw my guess is now worth 800 - 1mil
And there's more but due to length of post I won't continue. Those figures look good to me and in my opinion represent enormous growth considering Brisbane's market.
this is an extremely rare opportunity - I answered that once.
one of Brisbane's fastest growing regions - it is, as the previous figures suggest.
my prediction is it will be worth $1 mil within 5 years max - I stand by that and it is my prediction
My phone hasn't stopped ringing - haven't counted them I am sorry, didn't expect to need to answer to Mike for them
pretty close to sold - I believed it to be the case at the time of the post.
The interest from the forum has been terrific - I have the emails if you need proof
When I posted last I had a serious buyer on the property, but it hasn't happened yet. - It hadn't and hasn't, yet. She said she was away for the weekend and will contact me on Monday.
Just wondering why you have chosen to give us generalisations instead of fact? The reason we need some substantiation is because the next property you advertise here will have a different set of characteristics but if similar terms are also used to describe it there could be a lot of confusion because no two properties are the same, so the saying goes. - I did provide fact plus a description of the property as I see it. Considering the time wasted here I will probably not post another one. It was said at the time that the info provided was acceptable enough FACT to allow it to continue, did it not??
Could you clarify what you consider is
enormous growth as opposed to average or good growth? - See above
How fast is one of the fastest? In the top ten? Top twenty? Sorry can't remember the exact articles, however the Courier Mail has on several occasions recently placed it in the top suburbs for growth. I would suggest it is in the top ten, but am prepared to stand corrected. Local papers also have suggested similar.
What is the estimated growth rate for the next 5 years? What is that based on? Independent research? - My job is to sell property for a price that a buyer and seller agree upon today. If an investor wants all these stats about the future I allow them to do their research and due diligence and find out. Who believes a RE agent anyway, right Mike? I stated that my estimation was my prediction, you insinuate that I have guaranteed it. If my suggestion of the future value is too "general" I stand by it based on my experience and the sales I have now posted.
When is a property rare and when is it not rare? How do you tell the difference? If an absolute waterfront is listed once a year, is that rare? Or is rare when it is listed once a month? - You are kidding aren't you? I guess when there is no others available and when they do they normally sell before most buyers get the opportunity to know about it. You seriously don't consider waterfront property as rare??
When you say the phone hasn't stopped ringing how many calls about that property in an hour or day are you referring to? - Sorry, too busy to record them all!!
What actually is a serious buyer? Is it someone who has inspected the property? Someone with a written offer? Someone with a verbal offer close to the vendor's asking price? Someone who can make a cash offer? - All the above except the first one, plus someone who describes a property to me which matches to the property in question, can afford to pay for it and is eaget to purchase immediately. Suggesting that I consider a buyer who just happens to inspect a property is classified serious portrays me to be unprofessional, untrained, inexperienced and/ or downright stupid and I resent it.
When is a property close to sold? Is it when contracts have exchanged? - In Brisbane solicitors do not draw up the contracts and they are not "exchanged" as they are in Southern States. Close to sold, when someone suggests to me they want to make an offer and I know the owner will accept it or is very close to what they want I would suggest it is getting close to being sold. Anything after that would also qualify.
If the amount paid for it is extraordinary is it likely to be overpriced? - What's overpriced. A property is worth what someone is prepared to pay for it. An investor may consider a property to be overpriced based on return etc, but a family who want to make it home may feel it represents great value. So when is it overpriced??
Bottom line is it's genuine waterfront property of Moreton Bay. That alone will see someone pay some extraordinary amount for it.[/COLOR] - Do none of us look at waterfront property in the capital cities of Australia and say to ourselves, aren't they expensive, wish I could afford one of those. Isn't waterfront property often owned by the "Rich and famous". My research showed a property in Flinders Pde previously owned by Wickety Wak and I know a former Australian footballer who lives there. It's not exactly Gold Coast or Manly but it is about as good as it gets in Brisbane.
I hope I have given a satisfactory answer. I apologise to anyone who feels they have been or are being mislead. A local person was always going to be the likely buyer however I truly thought this would be of genuine interest to forumites. Given the reaction I suggest it is. I will post all info with regard to the final sale when able. I accept that by posting I am subject to scrutiny but I expected something more sensible. I don't control the property or the market. If the first offers were accepted maybe (if they had proceeded to settlement) I would have been vindicated. By giving this reply I have further opened myself to criticism, left myself in a position with the owner who may not be so rapt about the info provided and maybe provided personal info on other properties which I shouldn't.
Kev
www.nundahrealestate.com.au