SA Elizabeth SA Mega-thread continued..

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

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  1. D.T.

    D.T. Specialist Property Manager Business Member

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    Ah, one of those. Were they using the whole house or just a couple rooms?

    I hope foreigners or interstaters don't buy it without having a look at it - you can tell it's old and needs some updating from the photos, but you can't determine the drug damage from those.
     
    D.T., 29th Nov, 2015
    #621
  2. Johnny Cashflow

    Johnny Cashflow Well-Known Member

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    Just a bedroom and a shed out back. It's a solid house so no structural damage. Maybe a couple door replacement. Very dated floors bathroom etc
     
    Johnny Cashflow, 29th Nov, 2015
    #622
  3. DaveM

    DaveM Well-Known Member

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    DaveM, 30th Nov, 2015
    #623
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  4. Johnny Cashflow

    Johnny Cashflow Well-Known Member

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    Yea I don't get it. at the end of the day it's still Elizabeth?

    There plenty around like this atm

    Check out this property I found in Elizabeth Downs SA - 51 Hanson Road Elizabeth Downs SA 5113 - House for Sale #121426738 - realestate.com.au

    This was bought for 170k 18 months ago. Small reno and trying to sell for 230k? I struggle to see where 230k is?
     
    Johnny Cashflow, 30th Nov, 2015
    #624
  5. 2FAST4U

    2FAST4U Well-Known Member

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    Probably just fishing for interest and hoping an interstate investor will take the bait.
     
    2FAST4U, 1st Dec, 2015
    #625
  6. D.T.

    D.T. Specialist Property Manager Business Member

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    Spoke to Brett Roenfelt this morning, who is one of the leading auctioneers in Adelaide. He ran 5 auctions on Saturday in inner areas. Across the 5 in total, he had a dozen registered bidders and ZERO bids.
     
    D.T., 1st Dec, 2015
    #626
  7. joel

    joel Well-Known Member

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    Reason being?
     
    joel, 1st Dec, 2015
    #627
  8. Johnny Cashflow

    Johnny Cashflow Well-Known Member

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    Im gonna guess and say it's because people are trying to snag a bargain.

    That and the agents have been understating the value of the houses as the "price guide".

    People read "price guide 400k" and think may be able to buy it for that price or less. Not that auction will start at the price guide.
     
    Johnny Cashflow, 1st Dec, 2015
    #628
  9. 2FAST4U

    2FAST4U Well-Known Member

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    I've just had another Affordable Homes Program house up for sale in my street (3rd house this year on that street). It's killing my valuations:mad:.
     
    2FAST4U, 3rd Dec, 2015
    #629
  10. Johnny Cashflow

    Johnny Cashflow Well-Known Member

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    Where's that at?

    Just wait for it to expire and then buy it yourself lol
     
    Johnny Cashflow, 3rd Dec, 2015
    #630
  11. 2FAST4U

    2FAST4U Well-Known Member

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    2FAST4U, 3rd Dec, 2015
    #631
  12. Corey Batt

    Corey Batt Well-Known Member

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    @2FAST4U I've actually noticed that Affordable Homes property sales are in many cases being removed from sold records (realestate.com.au etc), but also being excluded from valuation comparables.

    I'd imagine these are not being treated as open market transactions, so it doesn't drag medians down too much.
     
    Corey Batt, 10th Dec, 2015
    #632
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  13. Johnny Cashflow

    Johnny Cashflow Well-Known Member

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    Interesting.

    Would be good to see what mine values at after some tlc
     
    Johnny Cashflow, 10th Dec, 2015
    #633
  14. 2FAST4U

    2FAST4U Well-Known Member

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    That’s interesting. I had a valuation done with the system the Commonwealth Bank uses and the AHP sales came up as comparable sales. That was about 4 months’ ago though now so maybe it’s changed.
     
    2FAST4U, 11th Dec, 2015
    #634
  15. Johnny Cashflow

    Johnny Cashflow Well-Known Member

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    Anybody goto the auction at nautilus eliz east today?
     
    Johnny Cashflow, 11th Dec, 2015
    #635
  16. 2FAST4U

    2FAST4U Well-Known Member

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    2FAST4U, 11th Dec, 2015
    #636
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  17. Johnny Cashflow

    Johnny Cashflow Well-Known Member

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    Johnny Cashflow, 11th Dec, 2015
    #637
  18. 2FAST4U

    2FAST4U Well-Known Member

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    Yeah it's a crazy price reduction that's why I was thinking if it was burnt out or completely destroyed inside or something because there were no interior pictures- just the floor plan. Someone got a bargain.
     
    2FAST4U, 11th Dec, 2015
    #638
  19. Johnny Cashflow

    Johnny Cashflow Well-Known Member

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    Needed a lot of money apparently. One room had no floor

    Should be some good bargains coming up soon
     
    Johnny Cashflow, 11th Dec, 2015
    #639
  20. 2FAST4U

    2FAST4U Well-Known Member

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    It'll probably just be an instant knock down for a developer. At that price you can't lose.
     
    2FAST4U, 11th Dec, 2015
    #640
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