Browse Forums Real Estate 1 Sep 14, 2012 6:52 pm Hi guys,
As the title suggests we have our first property on the market in Shepparton, Victoria. It's in the very early $200 k price range and haven't even had a bite. I find this odd since it's in the "investor / 1st home buyer" end of the market and figured it would sell reasonably easy. Don't want to give away too much, but after putting new kitchen in, floating floors, fresh paint & and gardens throughout i thought we'd have more interest by now. We are certainly aware the markets "slow" and by no means are we looking at gaining any capital growth at all for this price. Will link to ad on domain, it's a 3 bedroom, re-stumped weatherboard in an old street (NOT ex ministry/commission) with 622sqm yard & new kitchen. Only reason i specified it's not ex ministry is there are plenty of those on the market here and they are well into the $180K plus price range. Re: House been on market for 5 weeks... No offers :( 2Sep 14, 2012 6:59 pm We are re-considering selling and maybe keeping as a rental, only because we are keen to start building, but advice from close family and friends suggests that keeping as an investment can be more of a burden that it's worth. Any input would be appreciated guys. House been on market for 5 weeks... No offers :( 3Sep 14, 2012 7:31 pm Reason a house may not sell is purely price. If you think it's worth more than what you can currently sell it for then rent it out. You can alway sell later with tenants. joh040 advice from close family and friends suggests that keeping as an investment can be more of a burden that it's worth. Good tenants = may be worthwhile Bad tenants = never worthwhile! Lol Re: House been on market for 5 weeks... No offers :( 4Sep 14, 2012 7:32 pm If that house was in the suburbs it would not last 5 minutes on the market. I guess it must come down to what are people looking for in the area. Have you had a look at what has sold recently and for how much? My thoughts is that property in shepperton do not change hands as quickly as they would closer to melbourne. I think its just a matter of time. Re: House been on market for 5 weeks... No offers :( 5Sep 14, 2012 7:45 pm i do agree guys i think the price is very realistic, an ex commission renovated would fetch close to if not this. If it were brick maybe $15-$20k more. Gut feeling tells me it may just be a matter of time, suppose patience is the key here. Buyer's do have the opportunity to offer less than the asking price, i haven't even had a rude low ball offer so i don't know!! Local market is slow, I'm concerned investors & first home buyers alike are prepared to spend that bit extra to get into a brick veneer. Re: House been on market for 5 weeks... No offers :( 8Sep 14, 2012 8:43 pm Do properties in that area sell better by auction? Have there been many properties going to auction in that area and what is the clearance rate? House - Lockup completed 23rd December 2011 - Painters are in!!! https://forum.homeone.com.au/viewtopic.php?f=31&t=37261&start=0&hilit=Blaxland Re: House been on market for 5 weeks... No offers :( 9Sep 15, 2012 11:14 am i agree with buildingwest I looked at your photos....is there a limit? can you put more up? you have one of the fab kitchen and 2 of the laundry (get rid of that pic) and one of the blue bathroom (get rid of that pic) have more of the backyard, which looks fab, the front is nice, take some from various angles, more kitchen ones seeing you spent so much time doing it up, cant see the bedhead walls..is there a reason? if not, show them rather than all the stuff at the end of the beds, (people think..no room, too crowded etc) looks a nice house, love the dining room. the ad is a bit boring. can it not have something to make us want to visit? can it be offers over $199k or whatever rather than a price range? seller on the move, their loss , your gain etc..like we might get a bargain and we all love bargains so will come and look etc fall in love with the place and offer a fair price etc you say investors...do you know the yield, cos if it is 10 % gross, that needs to be put in there somewhere cos that is GREAT. selling price divided by the annual gross rent = the yield if it is 3% maybe not say investors, cos it wont appeal to them but say first home buyers..if there is a good school near? maybe retirement couples..is there bowls? who is your target market? an investor wants a good return a family want a home with a park and schools..is it near any of them?? make me want to come and look!!!!!! auction just means I have to be $1 more than the guy next to me..even though I was prepared to go 10k more. we all know from ebay and auto bids. how many people miss out on more money cos you never saw what they had as an auto bid!! good luck! sorry if I am sounding grrrrr, just wanting you to sell and get the best price and quickly... Re: House been on market for 5 weeks... No offers :( 10Sep 15, 2012 11:29 am Hi Kiwi. . . I seem to be stalking you! Hi joh. . . Have you considered selling it yourself ? This way you could lower the price by the amount that the realestate agent was going to be paid (minus any costs for selling it yourself) Re: House been on market for 5 weeks... No offers :( 11Sep 15, 2012 11:37 am morning stalker..................... Re: House been on market for 5 weeks... No offers :( 12Sep 15, 2012 11:42 am One problem may be that another website lists you property with "Our Guesstimate: $181,800 to $205,800" http://www.onthehouse.com.au/reports/pr ... _VIC_3630/ http://www.onthehouse.com.au/guesstimat ... id=5780208 Ed "ECOECO" At 'EcoEco', we design windows, we design the best windows, we do it for you, so that when you’re happy we are happy. Tel. 1800 326 326 Re: House been on market for 5 weeks... No offers :( 14Sep 15, 2012 1:04 pm jodge That's not very accurate though Ed, as I've found. . . Our house comes up at about $350k less than what we had it valued for. Hold on? I am not advocating the site or the price, I am just saying that it is out there. The site lets you challenge the value. Ed "ECOECO" At 'EcoEco', we design windows, we design the best windows, we do it for you, so that when you’re happy we are happy. Tel. 1800 326 326 Re: House been on market for 5 weeks... No offers :( 15Sep 15, 2012 4:15 pm I don't know the area but I don't think auction will increase your chances. People know you couldn't sell it for what you are asking so will expect to get a bargain. The relatives that said it's too much hassle- how many investment properties do they own? Let that guide you to their knowledge of the situation. What would the rent be? Can you draw equity to buy your new place? Might be very worthwhile. Re: House been on market for 5 weeks... No offers :( 16Sep 17, 2012 7:46 pm Hi guys, Thanks for the replies, as far as selling it ourselves it's probably hardly worth the effort on our behalf as we have a VERY competitive commission rate in the area thanks to one agent advertising %2.5 forcing others to come to the party As far as auction goes yeah, i figured it's probably pointless as we have previously advertised it at a particular price. I think we need to give our agents the benefit of the doubt (90 days) as per agreement, i honestly thought it would be an easy sell even in this climate but i was obviously wrong. As far as the pictures go I'd rather be honest with what the home has to offer,with the ad not being misleading. Renting it out still don't know, it will only take one bad tenant and it will cost us both time and money, maybe we will need to sit on selling longer than anticipated. Still have to wear landlord insurance/rates & it will never sky rocket in capital gain. Any theories on how long is "Stale" or "Too Long" on the market, thanks again. Re: House been on market for 5 weeks... No offers :( 18Oct 09, 2012 11:25 am Hi,i have to agree with kiwi,the add is boring,sorry There should be acouple of photo of the backyard as this is important to alot of people,what size is the land,is it fenced all the way around. Alot of estate agents add a short but nice description with the add,i would look at your ad but poss not go further into it. Poss Lovely cottage style home in great street,renovated chiefs kitchen will all modern cons,freshly painted though out,fab alfresco area & fully fenced yard with easy care garden,perfect for families or retires. Viewing is a must,this property will not last long at this price! Jazz it up without going overboard the ad is just too simple,its a lovely house & worth the price IMOP though i dont know about values etc in your area. Good luck! Block bought 1st RBC X! 2nd Ventrua,Keeper! Pstart 18/7/11 Ethwks jan 2012 Slab Bricks- finished 7/6 Roof Trusses 15/6-cbond 21/7 viewtopic.php?f=31&t=41185 Re: House been on market for 5 weeks... No offers :( 20Oct 20, 2012 8:55 pm So did you make the changes like we suggested? The fastest thing a builder will do is bank your cheque, those systems work perfectly with lightning speed, everything else is slow burn. Just the way it is. 1 5627 Can someone please offer some advice? Im DESPERATE. Because I'm completely and utterly exhausted. How long are variations taking with other companies at the moment? We… 0 12005 Hello everyone, I have a question regarding moving a chandelier after it has been mounted. The chandelier in question is quite large, measuring 4 meters… 0 68232 |