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An exercise in real estate. All guesses invited

  • Thread starter Thread starter Dood Deleted 66783
  • Start date Start date
D

Dood Deleted 66783

Hi All,

Yes, yes, I know it's a sex site and all but... it's also full of talented men and women with real life experience. So here goes. A couple I know who don't intend to have children have decided to move closer to the city from the hills. They're very interested in this house and have no idea what to offer on it. I gave them my guess. Click on the link and tell me yours. Seriously - ANY advice on your sound or unsound knowledge would be appreciated. I've guess $800k and people have laughed at me and said more but I doubt it. Then again, given Perth's real estate insanity. I'm more a hills guessing expert.

 
GreatAnt1 said:
$1.2 mill
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Part of me says yes because of the current real estate insanity. Like I said, I invite all responses. Just out of curiosity what makes you say that? The couple tells me that it's just on the verge of any loan they feel comfortable about. Me personally? That's a shitload to pay back but I'm a conservative person when it comes to finances and I guess when their parents go, they'll have something to help along the way.

But $1.2 million even though I'm stunned, given the real estate insanity you may well be right - close to the city and all.
 
Gobble_Doc said:
Last sold in Dec 2008 for $495k. I think somewhere between $850k to $1m. Probably closer to the lower end.
GD
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Ta!

Ladies and Gentlemen, please place your bets. The couple is very appreciative and are gathering from their own sources as well.
 
Gobble_Doc said:
Last sold in Dec 2008 for $495k. I think somewhere between $850k to $1m. Probably closer to the lower end.
GD
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Probably closer to $850,000... townhouses over the road are going for the same as 10 years ago.

Get a few break-ins, the last unmanned train stop before the city.
 
While it's been renovated extensively and its close to a range of facilities etc., it's in a shittier part of city. The advert states the median price of the area is 1.05 million, so I would expect the property to sell close to that. Anywhere in the range of $880,000 to $975,000 would be my guess, although I wouldn't be surprised if an interested investor from the Eastern States offered more as housing here is cheaper than Sydney/Melbourne.
 
sircurious said:
While it's been renovated extensively and its close to a range of facilities etc., it's in a shittier part of city. The advert states the median price of the area is 1.05 million, so I would expect the property to sell close to that. Anywhere in the range of $880,000 to $975,000 would be my guess, although I wouldn't be surprised if an interested investor from the Eastern States offered more as housing here is cheaper than Sydney/Melbourne.
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Shittier part of the city?
 
doob said:
Shittier part of the city?
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There's quite a bit of light industry in the area and some of the houses in the area are rundown. Much worse on the other side of the railway track though where there's an infamous bait and switch operation located along with some dodgy looking homes.

Also if they are used to a quieter lifestyle in the Hills, they will have to get used to the noise emanating from HBF Park (Glory, Western Force & the occasional concert). Holcim also have a cement factory just down the street, so if either of have asthma then cement dust wouldn't be helpful and you would also want to look at where the wind is blowing before putting any washing on the line outside. You wouldn't want your freshly cleaned clothes etc covered in cement dust either.
 
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Hmm, my friends went to first home open. Impressive enough, lots of yuppie couples. Estate agent wasn't smug but seemed genuine enough and gave them the tip - anything less than a million would have difficulty snagging it.
 
Mrs. Langtrees, why don't you buy it and live happily ever after. I'll even move in with you if you like :D


Yeah, yeah, I know what you're going to say; "Stop it you stupid boy, you'll go blind!"
 
johnmatilda said:
96

969,696
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Estate agent wasn't smug but seemed genuine enough and gave them the tip - anything less than a million would have difficulty snagging it. Hmmph! Bloody thing doesn't even have a pool. The couple I know are attracted to saving a lot of money on fuel as public transport into the city's free and near Northbridge, good schools etc, cafes, restaurants etc.
 
I'm thinking $990,000 now. Had two offers already and 5 confirmed interests pending meeting with their banks. My two young adult friends amongst them.
 
Chief said:
Should go to auction.
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I'm no expert but to me this is a cheeky way of doing a "silent auction". No one knows except the buyer and seller. That being said Auctions can be as underhanded. There's little stopping the agent or seller from planting someone in the audience to goad the bids up. I think in Melbourne and Darwin there are rules that the agent's allowed only up to 3 people to bid up the price on 3 occasions.
 
It’s a sellers market now so the agents are doing what they wish
So frustrating and would be much simpler if we just knew what they want
Not many agents are willing to be straight up though.
 
doob said:
I'm no expert but to me this is a cheeky way of doing a "silent auction". No one knows except the buyer and seller. That being said Auctions can be as underhanded. There's little stopping the agent or seller from planting someone in the audience to goad the bids up. I think in Melbourne and Darwin there are rules that the agent's allowed only up to 3 people to bid up the price on 3 occasions.
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Fair point well made but even a silent auction requires the progressive bids being known otherwise there’s no auction. The bidders remain anonymous unlike a public auction.
Most states, particularly those that rely on public auctions, have stringent laws covering vendor bids.
Any such bid must be identified at the time. There are only a limited number of such bids allowed.
Ones livelihood is at stake and a ban of some years is not uncommon for using dummy bids.
As has been pointed out the market is so hot you don’t need dummy bids.
Even the rental market has been using similiar tactics for some years in Perth.
 
JT777 said:
So frustrating and would be much simpler if we just knew what they want
Not many agents are willing to be straight up though
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Having recently sold a property part of the problem is that even the agents don't have a good feel for prices in the current market.

The place I sold recently went well above what the agent guessed at. He was up front with us that his price was really a guess these days.

$1.2M my guess
 
Blobbit said:
Having recently sold a property part of the problem is that even the agents don't have a good feel for prices in the current market.

The place I sold recently went well above what the agent guessed at. He was up front with us that his price was really a guess these days.

$1.2M my guess
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That’s why in this market you auction or utilise an “ expressions of interest” or similiar. Using someone who is guessing and doesn’t use one of these methods will cost you money.
 
Chief said:
That’s why in this market you auction or utilise an “ expressions of interest” or similiar. Using someone who is guessing and doesn’t use one of these methods will cost you money.
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Reminds of the story of the practicing doctor,you need one who doesn’t need to practice!
 
Chief said:
That’s why in this market you auction or utilise an “ expressions of interest”
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Yes, I agree. I was responding to the person who seemed to be suggesting agents were just being difficult. For once I think they're actually just being clueless rather than mendacious.
 
Blobbit said:
Yes, I agree. I was responding to the person who seemed to be suggesting agents were just being difficult. For once I think they're actually just being clueless rather than mendacious.
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Bobbit! Thank you! It's only the 3rd time I've heard or read someone use the term "mendacious"!🤯🤔👨‍🎓
 
I have to agree, I suspect many real estate agents can't even make an accurate, even researched, guess anymore. The couple I know are still living in hope but have begun to look at places like Victoria Park because they don't want to build their hopes up for a mega let down.
 
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