Tips Posted 21February, 2017 Report Share Posted 21February, 2017 there appears to be a similarity in those that collect, kick tyres or restore classics also have an affinity with realestate.Thought I would kick off an opportunity to discuss what we see, trade or dream about in the property market.Sorry T but will have to kick this off with the marketing of something that's known by most, currently for sale, and should have been marketed as 'once owned by an OTLW', GLWS...https://www.domain.com.au/84-paddington-street-paddington-nsw-2021-2013401127 Link to comment Share on other sites More sharing options...
sleazius Posted 21February, 2017 Report Share Posted 21February, 2017 I'll take an apartment in this building thanks:http://www.realestate.com.au/property-apartment-nsw-mcmahons+point-124619814?pid=project-profile-ppp-600015518-to-pdp-124619814 Link to comment Share on other sites More sharing options...
sandy468 Posted 21February, 2017 Report Share Posted 21February, 2017 Shit view, cant even see Admiralty house/Kirribilli Link to comment Share on other sites More sharing options...
LeeM Posted 21February, 2017 Report Share Posted 21February, 2017 I'll take an apartment in this building thanks:http://www.realestate.com.au/property-apartment-nsw-mcmahons+point-124619814?pid=project-profile-ppp-600015518-to-pdp-124619814Jeebus! Link to comment Share on other sites More sharing options...
GUT Posted 21February, 2017 Report Share Posted 21February, 2017 Ok here's one that's a little more within reach http://www.realestate.com.au/property-house-vic-camberwell-124638998And then there's this one in Surrey Hills that I'll be selling in May. It's a ripper house - solid as a rock - they don't make 'em like this anymore. Link to comment Share on other sites More sharing options...
sandy468 Posted 21February, 2017 Report Share Posted 21February, 2017 Absolutely huge fan of Art Deco architecture Gut, would love a house like that, if I was in that market... Link to comment Share on other sites More sharing options...
WOKA Posted 21February, 2017 Report Share Posted 21February, 2017 Auction or private treaty.? My head is doing cartwheels. Depends on the market \ location \ emotion of the buyers - I get that.. But jebus, it seems like a lazy way for an agent to get a result, and the vendor to get squirreled into a situation where possibly the reserve is reduced.. I'm selling my PPR at the moment - already bought inner city and an in the reno process + the tarting up of this place process + the moving process.. How many hours in the day..? Good job I quit my full time job recently to cover all bases.. All bases other than the cash bases that is..!The Chinese love my area - they own it, just gotta hope for two or three who really love it. Auction or private treaty.. I have less than 24 hours to decide... Link to comment Share on other sites More sharing options...
LeeM Posted 21February, 2017 Report Share Posted 21February, 2017 My ultimate would be a Harry Seidler 'modernistic' designed homeYou get the idea herehttps://www.google.com.au/search?q=famous+1960's+architects+australia+harry+seidler&rlz=1C1CHBF_enAU719AU720&espv=2&biw=1094&bih=510&source=lnms&tbm=isch&sa=X&ved=0ahUKEwiFsL7bpaHSAhXEopQKHVcKCukQ_AUICCgB Link to comment Share on other sites More sharing options...
edgy Posted 22February, 2017 Report Share Posted 22February, 2017 I'm currently a mere realestate speculator, perhaps a stupid one? Because I'm too stingy to employ a full time builder to complete the renovations, because why pay for shit you can do yourself? I often forget you need to have spare time to do that! time = $ One day I'll sit down and have this conversation with myself.... We have inner city aspirations too, but my car problem is a little out of control so the suburbs is it for me until I am cured? Link to comment Share on other sites More sharing options...
P-Kay Posted 22February, 2017 Report Share Posted 22February, 2017 We have inner city aspirations too, but my car problem is a little out of control so the suburbs is it for me until I am cured? Enjoy the leafy burbs as I suspect, like me, there is no cure! Link to comment Share on other sites More sharing options...
MFX Posted 22February, 2017 Report Share Posted 22February, 2017 I'm currently a mere realestate speculator, perhaps a stupid one? Because I'm too stingy to employ a full time builder to complete the renovations, because why pay for shit you can do yourself? I often forget you need to have spare time to do that! time = $ One day I'll sit down and have this conversation with myself.... We have inner city aspirations too, but my car problem is a little out of control so the suburbs is it for me until I am cured? One day you will see the light and go the other way Move OUT of the city and then you can have enough space to have as many cars as you like Link to comment Share on other sites More sharing options...
edgy Posted 22February, 2017 Report Share Posted 22February, 2017 Enjoy the leafy burbs as I suspect, like me, there is no cure! You're right, my habits will keep me here! My only problem with the burbs is everything needs a bloody car ride, no matter what! I have no aspirations to look like Jabba the hutt, so I have taken to cycling to work & back to combat that. One day you will see the light and go the other way Move OUT of the city and then you can have enough space to have as many cars as you like Don't think we have not looked at it! We briefly thought about that, but not for where we are at in life right now. Link to comment Share on other sites More sharing options...
LeeM Posted 22February, 2017 Report Share Posted 22February, 2017 If I was single, I'd be out in the sticks with a transportable house on a few acres with a big shed, couple of dirtbikes and a couple of dogs. Need my space! Link to comment Share on other sites More sharing options...
sleazius Posted 22February, 2017 Report Share Posted 22February, 2017 One day you will see the light and go the other way Move OUT of the city and then you can have enough space to have as many cars as you like I live on acreage and wouldn't change that. Room for all the hobbies and more.When I get old and decrepit and the bureaucrats have made driving on public roads illegal without auto pilot engaged I'll up stumps and move to an apartment. For this point in my life living out here is awesome. I guess it helps that my business is in the west too - screw the city commute. Link to comment Share on other sites More sharing options...
MFX Posted 22February, 2017 Report Share Posted 22February, 2017 37 minutes ago, SimonN said: I promise that this will be my last comment on this thread, but seriously guys, why do you employ agents like that? I know they are out there, but the alternative to employing them isn't DIY. It's finding an agent who will do it properly. The simple answer is, I don't employ them. The type of agents you are talking about may exist in the high end property market, but I have never come across one in the real world. If you are a seller, you are a buyer as well. Do you think buyers are a rare breed of gullible people who will easily be talked into paying too much. You are obviously a buyer as well. Have you over paid for a property because of an agents slick sales approach? Sometimes you get the wood duck who is stupid enough to pay too much. That is the same with cars or houses or anything for that matter. Link to comment Share on other sites More sharing options...
sleazius Posted 22February, 2017 Report Share Posted 22February, 2017 What passes for the shed out the back here (shitty photo but you get the idea): Link to comment Share on other sites More sharing options...
TINGY Posted 22February, 2017 Report Share Posted 22February, 2017 I found an 2.5 acres in Newcastle's western suburbs i guess we'll call it for under a mill, 5 beds, 3 baths and 7 car garaging, could not get her to budge from where we are.In a lakeside suburb with a set of old shops with everything we need closer than i can throw a stone with 2 cafes and a bowling club an 8 min walk away, the water 300mts away, i guess she did have a compelling argument not to move.At the moment i am getting my dad's house ready for sale as he is in a nursing home now, I picked the local real estate to sell as they really know this area, trouble is my old man has never done to much maintenence on the place and i just got a quote for over $6k to paint the inside Link to comment Share on other sites More sharing options...
Coastr Posted 22February, 2017 Report Share Posted 22February, 2017 I found an 2.5 acres in Newcastle's western suburbs i guess we'll call it for under a mill, 5 beds, 3 baths and 7 car garaging, could not get her to budge from where we are.In a lakeside suburb with a set of old shops with everything we need closer than i can throw a stone with 2 cafes and a bowling club an 8 min walk away, the water 300mts away, i guess she did have a compelling argument not to move.At the moment i am getting my dad's house ready for sale as he is in a nursing home now, I picked the local real estate to sell as they really know this area, trouble is my old man has never done to much maintenence on the place and i just got a quote for over $6k to paint the insidehonestly you might be better off selling as is. Buyers of old places usually factor in some type of Reno into the price so painting it might be $6k down the tube. If the paint is the only thing wrong with it..maybe. If it needs kitchen and bathroom and flooring fixes sell the potential. Your local agent should be able to have an intelligent conversation with concrete examples about this. Also see what others are selling.i have had similar conversations with my old man for when it comes time to sell his. He was thinking about tipping $20k in, but I doubt he'd get it all back. The block is the feature at his place, like lots of old people he got in early and snatched the best spot and hasn't budged since. A buyer is just as likely to detonate the entire thing and start again, or conduct a major Reno for their own taste. Link to comment Share on other sites More sharing options...
SimonN Posted 22February, 2017 Report Share Posted 22February, 2017 The simple answer is, I don't employ them. The type of agents you are talking about may exist in the high end property market, but I have never come across one in the real world.I disagree with you on this, but I guess it depends on what you consider the high end property market. I have sold 3 properties in the $400-600k range and I consider that "real world". The last one was in Newcastle, a town house. Because i didn't know the market or agents, I needed to do far more homework than usual. I got 4 agents to come round. I always ask what the max they see it selling for and what they actually believe I will have to accept in order to sell. I also expect them to provide evidence of how they came to their valuation with comparative sales, both theirs and others. I also make sure i know what else is on the market. From all of this, i know if the agent is simply giving me a figure in order to get the agreement or not. I don't think I have ever chosen the agent who says they will get me the most.In this case most believed I would get $415-425k, with a max of $450k. I chose the agent based on 4 things. First, he was ranked in the top 100 agents in Oz, was top of his sector in Newcastle, had the shortest sale time and had a high average sale price, which checked out against similar properties to mine he had sold. Second, I had been planning to do some work to improve the appeal, which all the others said would be a good idea yet he made a very convincing argument that he could get the same price without that work, so he was actually taking the harder option. He said that by leaving the blank canvass and room for improvement, he could get people to imagine making it their own rather than settle for somebody else's taste. Third, from the moment I contacted him to the moment I appointed him, he was by far the most professional. Part of it was helped by him directly employing 2 assistants but I also liked that on one particular occasion, after i left a message with one of them, he texted to ask if he could call back between 7.30pm and 8.00pm because he had viewings for the rest of the day. He called back at 7.35pm. Finally, I liked his sales tactics and how he said he would run the campaign, which again was very different to the other agents. The only thing we disagreed on was the choice of stylist. After he told me the demographic who he believed would buy it, I researched the different styles being offered in Newcastle and chose accordingly (he now uses that stylist most of the time). I added a cash bonus for certain over performance. Cut a long story short, he achieved $485k for the property. Would any of the other agents have achieved the same thing? I doubt it. If you are a seller, you are a buyer as well. Do you think buyers are a rare breed of gullible people who will easily be talked into paying too much. You are obviously a buyer as well. Have you over paid for a property because of an agents slick sales approach? Sometimes you get the wood duck who is stupid enough to pay too much. That is the same with cars or houses or anything for that matter.I think there is a great difference between over paid and understanding value. Cars and houses are very different. In most cases, you can find another car of the same model, spec, colour and condition. In most cases, houses are very individual. Because of this, each person has a different view of value. The knack of a good agent is to get somebody to see the value. When i bought my first home in Oz, there was a house that had been on the market for about 4-5 months for $3.2m. I didn't like it and dismissed it after a short viewing. On moving into the new place, i was chatting with a neighbor about our search. He admitted that he was looking to move but couldn't find anywhere. We compared notes on what was for sale and the $3.2m house was discussed, a house he had viewed and dismissed and we both said it would struggle to get $2.85m. A month later, they appointed a new agent who listed it at $3.75m which totally puzzled me. Yet 4 weeks later, my neighbor paid $3.6m for it! That same agent got me a street record for an unrenovated house one year later. His special skill was getting people to understand the potential of the property and how it would suit the particular buyer, plus his uncanny ability to get 2 people making offers at the same time.On one hand, I share the despair at the agents who are simply lazy and who do exactly what was described on the other thread. Maybe I have been lucky that I have never had to choose between one of them and not having an agent. But on the other, thank heavens for them, because they enable you to buy property cheap. I have also never sold an apartment in a block where there are others for sale that are effectively the same. Maybe I will have a rethink then, because I am not sure how an agent adds value, except through speed of sale. Link to comment Share on other sites More sharing options...
LeeM Posted 22February, 2017 Report Share Posted 22February, 2017 A buyer is just as likely to detonate the entire thing and start again, or conduct a major Reno for their own taste. This makes sense ^ Make the house presentable with gardens clean and tidy and a good clean inside. Job done Link to comment Share on other sites More sharing options...
MFX Posted 22February, 2017 Report Share Posted 22February, 2017 I disagree with you on this, but I guess it depends on what you consider the high end property market. I have sold 3 properties in the $400-600k range and I consider that "real world". The last one was in Newcastle, a town house. Because i didn't know the market or agents, I needed to do far more homework than usual. I got 4 agents to come round. I always ask what the max they see it selling for and what they actually believe I will have to accept in order to sell. I also expect them to provide evidence of how they came to their valuation with comparative sales, both theirs and others. I also make sure i know what else is on the market. From all of this, i know if the agent is simply giving me a figure in order to get the agreement or not. I don't think I have ever chosen the agent who says they will get me the most.In this case most believed I would get $415-425k, with a max of $450k. I chose the agent based on 4 things. First, he was ranked in the top 100 agents in Oz, was top of his sector in Newcastle, had the shortest sale time and had a high average sale price, which checked out against similar properties to mine he had sold. Second, I had been planning to do some work to improve the appeal, which all the others said would be a good idea yet he made a very convincing argument that he could get the same price without that work, so he was actually taking the harder option. He said that by leaving the blank canvass and room for improvement, he could get people to imagine making it their own rather than settle for somebody else's taste. Third, from the moment I contacted him to the moment I appointed him, he was by far the most professional. Part of it was helped by him directly employing 2 assistants but I also liked that on one particular occasion, after i left a message with one of them, he texted to ask if he could call back between 7.30pm and 8.00pm because he had viewings for the rest of the day. He called back at 7.35pm. Finally, I liked his sales tactics and how he said he would run the campaign, which again was very different to the other agents. The only thing we disagreed on was the choice of stylist. After he told me the demographic who he believed would buy it, I researched the different styles being offered in Newcastle and chose accordingly (he now uses that stylist most of the time). I added a cash bonus for certain over performance. Cut a long story short, he achieved $485k for the property. Would any of the other agents have achieved the same thing? I doubt it.I think there is a great difference between over paid and understanding value. Cars and houses are very different. In most cases, you can find another car of the same model, spec, colour and condition. In most cases, houses are very individual. Because of this, each person has a different view of value. The knack of a good agent is to get somebody to see the value. When i bought my first home in Oz, there was a house that had been on the market for about 4-5 months for $3.2m. I didn't like it and dismissed it after a short viewing. On moving into the new place, i was chatting with a neighbor about our search. He admitted that he was looking to move but couldn't find anywhere. We compared notes on what was for sale and the $3.2m house was discussed, a house he had viewed and dismissed and we both said it would struggle to get $2.85m. A month later, they appointed a new agent who listed it at $3.75m which totally puzzled me. Yet 4 weeks later, my neighbor paid $3.6m for it! That same agent got me a street record for an unrenovated house one year later. His special skill was getting people to understand the potential of the property and how it would suit the particular buyer, plus his uncanny ability to get 2 people making offers at the same time.On one hand, I share the despair at the agents who are simply lazy and who do exactly what was described on the other thread. Maybe I have been lucky that I have never had to choose between one of them and not having an agent. But on the other, thank heavens for them, because they enable you to buy property cheap. I have also never sold an apartment in a block where there are others for sale that are effectively the same. Maybe I will have a rethink then, because I am not sure how an agent adds value, except through speed of sale. I can see your point. I still haven't seen any of those agents and I have traded around 10 properties in the past 6 years, but I have seen hundreds (no exaggeration) of the type that @Plugger2 mentioned.I have similar stories. I had a house in Miranda a few years ago and did my research on the agents. I had 5 lots through giving me their sales pitch. Most assuming I could get low $800k's with the highest being $850k. I knew my small area of the market probably better than them as they were generally just going off of their sales or just the whole suburbs data. I ended up selling it myself for $910k in 2 days and I saved the astronomical commissions one of which was $22k. It cost me $1400. Now if you don't have the time, and you are not willing to put in the work doing the research, then try to find a good agent. I don't believe there was an agent in that area that could have got me more than $20k more than what I did to justify their fees (in fact I don't believe any of them would have got anywhere near the price I did). Link to comment Share on other sites More sharing options...
Stew F Posted 22February, 2017 Report Share Posted 22February, 2017 At this stage I'll probably be in the market for a small place with minimal garden in a couple of years. A 3 bedder on 400m2 or something like that. I hate gardening. I'm toying with the idea of moving back to the city as it's close to my work. I like the idea of an inner city apartment, but I don't think my dog would like it so much. On the other side, all my friends and a lot of my family are in the hills, so that's one thing that may keep me here. Link to comment Share on other sites More sharing options...
DJM Posted 22February, 2017 Report Share Posted 22February, 2017 My ultimate would be a Harry Seidler 'modernistic' designed homeYou get the idea herehttps://www.google.com.au/search?q=famous+1960's+architects+australia+harry+seidler&rlz=1C1CHBF_enAU719AU720&espv=2&biw=1094&bih=510&source=lnms&tbm=isch&sa=X&ved=0ahUKEwiFsL7bpaHSAhXEopQKHVcKCukQ_AUICCgBlooks like an attempt to get @Hugh over here.........he is resisting, just. A few more mid century modern posts should get him.https://goo.gl/images/SZIhc4 Link to comment Share on other sites More sharing options...
Mike-S Posted 22February, 2017 Report Share Posted 22February, 2017 We deliberately bought this place we're in 2 or so years ago as a partly renovated house that was liveable, done on the cheap but looked OK. I used what little I could remember from my building qualifications of 25 years ago to 'survey' it and half an hour later had an offer accepted, the day before it was going to auction as my wife wanted it for the pool. I could see it lasting the 3-5 years we needed to decide on what to build here as this is completely the area MrsMike wants to be in, we fully plan on knocking it down in a couple of years if we can find someone to design and build us a 4 car garage with some sundry living space attached to it, without having to rob a bank to do it. We've spent the last 2 years visiting every housing development round Melbourne to get ideas and talk to all the builders, but my 4 car garage is the kicker for every one of them, as they refuse to alter the facade's to incorporate it. Much as I'd like an architectural masterpiece our budget is unlikely to stretch beyond half a mill, so at this rate I can see us having some generic thing built and then moving on, perhaps heading down the coast toward Mornington. Or just capitalise on the rather large increases in value we've seen in Parkdale, sell up and buy elsewhere. Link to comment Share on other sites More sharing options...
sleazius Posted 22February, 2017 Report Share Posted 22February, 2017 Detonation is generally better than renovation. I'm coming off the back of a 18mth reno completed 18mths ago. Never again. Link to comment Share on other sites More sharing options...
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