zaph

Zaph's real estate adventures

327 posts in this topic

I think that the Zaph barometer is consistent with what is reported more widely - namely that turnover is picking up a little and houses which might have sat 6-12 months ago are now shifting. Another wave of young buyers join the pain-train.

It would appear so. Although they're moving, there's no indication of what price. Waiting on sales data for 4. Don't forget it's a comprehensive study of 10 or so streets.

I should sell my Zaphometer and tart my self in the media.

Zaphometer CEO said

"The data shows an increase in the second quarter"

- the truth (by omission) but most sheep will interpret as prices are rising.

"There can be no dispute that things are taking off in zaph hills"

- the truth (by omission) but most sheep will interpret as prices are rising.

I did my real estate economics doctorate on the weekend. Watch out Wilson!

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New listing

#15 3 bed, 2 bath, 2 garage. Two living areas (which is rare for a 3 bed in this area). Good condition. Auction end of April.

Sales history:

9/89 $132k

10/96 $137.5k

7/97 $135k

5/01 $158.1k

10/10 $464k

The house is vacant, so either a rental where the tenants were booted out to sell or OO that have already moved on. So pressure to sell. I'll be amazed if the owners get what they paid for it. I estimate $430-450k.

Sold for $460k. A good price for the vendor.

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New listing #19

3bed, 1 bath, 2 garage, lowset. $405k.

Had a go selling it in Dec, started at $439k, dropped to $424k then removed from listing in late Feb. Rented in July last year for $385pw.

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New listing #19

3bed, 1 bath, 2 garage, lowset. $405k.

Had a go selling it in Dec, started at $439k, dropped to $424k then removed from listing in late Feb. Rented in July last year for $385pw.

#19 now listed as under contract

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New listing #20 3bed, 1 bath 2 garage, 2 living areas.

Auction. Interestingly in just two weeks time!

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New listing #20 3bed, 1 bath 2 garage, 2 living areas.

Auction. Interestingly in just two weeks time!

Auction was Sunday. Appeared as under contract today. So probably took a couple of days negotiating post auction to sell.

That's three successful auctions in a state that doesn't favour auctions. I believe that this area of BNE is moving, but vendors haven't yet realised that buyers are around and offering more.

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New listing #22

3 bed, 2 bath, 1 garage, bathrooms and kitchen untouched from the 70's. $560k +

Downstairs has 4 utility rooms, sitting area and kitchette - looks legal height, but the language indicates it's probably not. I wondered what a kitchette was - I've come to the conclusion it's a small kitchenette - a sink and just enough room for a small kettle.

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Huge sh*tting room not your thing? More into voyeurism? Then this house is for you...

Separate Laundry with dryer and extra toilet… and a huge size room with showing facility.

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New listing #22

3 bed, 2 bath, 1 garage, bathrooms and kitchen untouched from the 70's. $560k +

Downstairs has 4 utility rooms, sitting area and kitchette - looks legal height, but the language indicates it's probably not. I wondered what a kitchette was - I've come to the conclusion it's a small kitchenette - a sink and just enough room for a small kettle.

#22 under contract in a week!

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New listing #18 - A type 2 place (see previous post)

Highset 3 bed, 2 bath, 2 garage. Auction

Original late 70's bathrooms and kitchen - look in good condition. Downstairs rumpus looks to be legal height but has no ceilings - look up and you see the floorboards and beams. Marketed as 'retro classic'. My guess is it will go for around $400k.

#18 sold for $504k! My guess was way out.

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New listing

#15 3 bed, 2 bath, 2 garage. Two living areas (which is rare for a 3 bed in this area). Good condition. Auction end of April.

Sales history:

9/89 $132k

10/96 $137.5k

7/97 $135k

5/01 $158.1k

10/10 $464k

The house is vacant, so either a rental where the tenants were booted out to sell or OO that have already moved on. So pressure to sell. I'll be amazed if the owners get what they paid for it. I estimate $430-450k.

This house is one down and opposite my place.

Yesterday they were getting the roof cleaned and today they are starting to paint it. So yesterday I popped over to say hello and how well the roof was scrubbing up. The roof was so dirty it was black; after cleaning it revealed it's original lemon finish perfectly. Now the guy wants to paint it black.

Anyway...

The guy's whole conversation was about property, particularly prices. He paid $460k (correct!) and 'had' to renovate the bathrooms and kitchen. He identified all the houses in the area that had sold since a bit before his, with prices like he was a living database. He offered $480k pre auction and purchased it for 20k cheaper.

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New listing #23

5 bed, 2 car, 3 bath $600k + buyers.

Dropped in on the ofi yesterday.

The "huge size room with showing facility" is the single garage. Still has the roller door but has been plastered up from the inside, a shower plonked in the corner and that's it - nothing else in there. It's counted as one of the 5 beds. Throughout, the carpets are threadbare, the walls in dire need of a paint and the bathrooms original 70's. Dreaming if they think they can get 600.

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New listing #24

4 bed. 2 bath. 1 garage. 1 carport. $500k+

#24 'under offer' in a week.

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New listing #25

3 bed, 2 bath, 2 car(port). $570 +

This is a highset with another two beds (not legal height - can't legally call them bedrooms), living area and kitchenette downstairs. One great feature is the "Spanking New 2nd bathroom"!

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New listing #25

3 bed, 2 bath, 2 car(port). $570 +

This is a highset with another two beds (not legal height - can't legally call them bedrooms), living area and kitchenette downstairs. One great feature is the "Spanking New 2nd bathroom"!

#25 'under offer' in a week.

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Wow! It seems to be a hot market!

Property is certainly selling in my 'sample', very quickly. The last couple of sales have been at good prices, too early to say if prices are rising though and if my sample is representative of anything.

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#17 now under contract

#17 history:

New listing #17

4 bed, 2 bath, 2 garage, large house with multi living areas. original apricot 80's bathrooms. $599k+

#17 reduced to $580k+

Sold for $595k. Previously sold 3/2007 - $452500.

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Auction was Sunday. Appeared as under contract today. So probably took a couple of days negotiating post auction to sell.

That's three successful auctions in a state that doesn't favour auctions. I believe that this area of BNE is moving, but vendors haven't yet realised that buyers are around and offering more.

(New listing #20 3bed, 1 bath 2 garage, 2 living areas.

Auction. Interestingly in just two weeks time!)

Sold $460k. Previously 6/2007 - $412k. 4/2002 - $180k

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