Greetings, sports fans. Big weekend was had by all. Winners and losers, hard-hitters and duffers out in force while a squillion spectators had a ball.
Not golf: real sport. Real estate.
[pullquote]The winners were clear by about the third hole…”[/pullquote]The winners were clear by about the third hole: buyers, no handicap.
There were even comedy acts for the children. One, supposedly a professional, opens the bidding at a shade under $2 million. Instant vendor bid (typical of this agent) raises that by $10,000. The professional bids again, adding … $90,000! A knockout bid! Against … who? Themselves? Can this really be happening? It gets worse. Post-auction negotiations put another $30,000 of the client’s money on the table before this comedy is over. We’re still shaking our heads.
When around 10 properties over $3 million are being passed in for the couple which sell, post pass-in is the time to play. Over just the past week we have bought a number of properties for more than $100,000 under their pass-in figures (one, notably, for $500,000 below an offer made last year).
Do the homework. It’s high-risk, but when you’re sure you are the only bidder, pick up the phone: “We won’t be at the auction. Call us after it’s passed in and we’ll talk.” – helps take the air out of some tyres.
More fun: agents re-labelling B & C properties which have failed in the hands of other agents and packaging them afresh. Same old product inside. Who do they think they’re kidding?
Off-market and out of the limelight there are some gems glinting in the dark. It’s Christmas!
And so to golf:
A Shark’s good walk was ruined over the weekend. Someone called Tiger did quite well.
Bayside: Nothing but the facts
Inspired by Joe Friday (‘Dragnet’, if you’re old enough to remember), “…just the facts, ma’am”.
Recent weeks. Bayside tables turn: Brightons up, Bentleighs down.
Brightons: 16 auctions, 11 sell (but a lot of rain fell on those over $2 million).
East of Thomas Street? Wheels fall off. Two sold from 15 offered. One rate cut was not enough.
Meanwhile, back in 3186:
- 7 Rothesay Avenue. Stumbled past $2 million to sell at $2,050,000. Highest on the day.
- 14a Downes Avenue. New townhouse. Comes close to $2 million.
- 366 St Kilda Street. corner of Elwood. Another townhouse. Gone for $1,760,000
- 4 Gray Street. Land (680 sq m) value. Gone for $1,500,000
- 43a Carpenter Street. Gone. $1,107,500
Higher up the scale, the weather changed. All passed in:
- 2 Snooks Court. $3,000,000 vendor bid, reserve a secret
- 27 Chelsea Street. $2,600,000 vendor bid, reserve another secret
- 28 Collins Street. $2,200,000 vendor bid, reserve not a secret: $2,350,000
- 58 Champion Street. $1,400,000 vendor bid, later offer $1,500,000 reserve $1,680,000
Hampton and Sandringham: 10 auctions. 5 sold.
- 17 Imbross Street. $1,495,000. Highest on the day.
- 21 Grange Road. $1,332,000. Sold.
- 10 Mills Street. $1,325,000. Sold.
- 15 Sims Street. Still waiting at the altar. Vendor bid: $2,000,000. Reserve: $2,100,000.
The Beaumaris/Black Rock malaise (do they still hold auctions there?) seems to have infected the Bentleigh twins. No nurse in sight.
Tough week for some. And more to come.
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