SA Adelaide Southern Areas

Discussion in 'Where to Buy' started by jim1964, 18th Jun, 2015.

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  1. jim1964

    jim1964 1941

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    Westcoster Strahan Tasmania
    Wheres my Crystal Ball................................................ With your new purchase,did you
    1) Get a discounted price?
    2) Sight unseen?
    3) Buying competition?


    Cheers

    BZzzzzzzzzzzzzzzz
     
    jim1964, 26th Jun, 2015
    #21
  2. MattADL

    MattADL Active Member

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    Welcome to the neighbourhood.

    Any more details on the property? How much did you pay?
     
    MattADL, 26th Jun, 2015
    #22
  3. HUGH72

    HUGH72 Well-Known Member

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    Does anyone have any thoughts as a local on Morphett Vale vs Reynella vs old Reynella other than closer to CBD means a slightly higher median. I have started looking closely at these areas and would like to buy one more in the Northern and Southern suburbs of Adelaide over the next couple of months.
    Looking at how quickly stock is going under contract the south seems to be moving quicker possibly?
     
    HUGH72, 27th Jun, 2015
    #23
  4. Coota9

    Coota9 Well-Known Member

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    @Erica

    How did your Val's go?
     
    Coota9, 27th Jun, 2015
    #24
  5. D.T.

    D.T. Specialist Property Manager Business Member

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    Would definitely choose morphett vale over reynella. Has closer access to shopping centre, train station etc.
     
    D.T., 27th Jun, 2015
    #25
  6. jim1964

    jim1964 1941

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    I bought a block of land in Walnut St behind Yum Sim in old Reynella in 2004 for $95,000,had to sell,wish i still had the dirt now.
     
    jim1964, 27th Jun, 2015
    #26
  7. D.T.

    D.T. Specialist Property Manager Business Member

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    We've all been there, the joys of hindsight :)
     
    D.T., 27th Jun, 2015
    #27
  8. jim1964

    jim1964 1941

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    Last edited: 27th Jun, 2015
    jim1964, 27th Jun, 2015
    #28
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  9. HUGH72

    HUGH72 Well-Known Member

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    Got to try and get down there in the next few weeks if possible and pick something else up before all the Sydney peeps move in if they haven't already!
     
    HUGH72, 27th Jun, 2015
    #29
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  10. Joshwaaaa

    Joshwaaaa Well-Known Member

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    Old reynella seems to do the best, there are a lot of newer better kept houses there though. Reynella and morphett vale are much the same.
     
    Joshwaaaa, 28th Jun, 2015
    #30
    Nando Lee and 2FAST4U like this.
  11. c_west

    c_west Well-Known Member

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    c_west, 28th Jun, 2015
    #31
  12. Erica

    Erica Well-Known Member

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    Just had agent out to appraise IP's and if I take his word for it Morphett Vale is 5% up on 12 mths ago
     
    Erica, 28th Jun, 2015
    #32
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  13. Erica

    Erica Well-Known Member

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    The suburb of Morphett Vale turns over about 400 house sales every year, and of that, only a grand total of 4 publicly listed sales of (3 bedroom) houses went for $200,000 or under (according to house.ksou.cn) so if the house was structurally sound then yes I'd say it was a cracking good deal.

    If it needed a bulldozer then I'd say they paid the right amount- photos can be deceiving.
     
    Last edited: 28th Jun, 2015
    Erica, 28th Jun, 2015
    #33
  14. D.T.

    D.T. Specialist Property Manager Business Member

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    Appraise for sale?
    Be crazy to let go now
     
    D.T., 28th Jun, 2015
    #34
  15. Coota9

    Coota9 Well-Known Member

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    I thought it would be for bank revaluation
     
    Coota9, 28th Jun, 2015
    #35
  16. DanW

    DanW Well-Known Member

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    Looks like it's moved up, down south.

    We were buying last August/September in hackham west, and huntfield heights.
    230k for 3br houses and 2br duplex units for 185k a side. I can't really see much selling below 250k now unless they're trashed.

    You can look at the "sold" history on realestate.com.au and see the differences, but be wary of the type of homes.. there are alot of knock-down rebuilds that of course you can't compare.

    Would like to a see movement in rents though, that I have not seen. I think that's the fault of the economy :(
     
    DanW, 28th Jun, 2015
    #36
  17. Jamie_Monkey

    Jamie_Monkey Member

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    Hey Matt, I'm a little superstitious so I'll keep the drum dry on the full details until its settled in mid July, but we were viewed at the first open inspection whilst back in town a couple of weeks ago (currently live in Melbourne) and liked the feel of the place. Its currently rented with lease in place for next few months and my PM is confident of getting same/more rent. Paid $260k which was probably at the top of what we were prepared to pay but still offers >6% return.
     
    Jamie_Monkey, 29th Jun, 2015
    #37
  18. Jamie_Monkey

    Jamie_Monkey Member

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    Hi Jim

    1) Define discounted price - we bought for $260k which we thought still gave us value
    2) We went to first inspection
    3) Currently tenanted for a few more months which would likely put off owner occupiers, which assisted us in agreeing deal
     
    Jamie_Monkey, 29th Jun, 2015
    #38
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  19. Erica

    Erica Well-Known Member

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    I totally agree! I don't want to sell, and think we can afford to hold, but hubby is stressed about our level of debt, I'll keep working on him, I 'recon it's crazy to sell a cash flow positive investment if you don't have to...

    We are off on camping holiday Saturday morning, nothing but fishing for Barra in the top end for 2 weeks- he might feel differently after a break from work...
     
    Erica, 29th Jun, 2015
    #39
  20. jim1964

    jim1964 1941

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    Rule no 1,never believe what someone tells you,ask for the figures and facts to back up a 5% claim.
     
    jim1964, 29th Jun, 2015
    #40
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