House being sold every 2-3 years

Hi guys,

I've come across a lovely little terrace in Sydney's eastern suburbs which is above our budget but in the "let's dream about it" category- it does seem to be well priced though.

After investigating in some more, it seems that apart from one stretch of about 18 years, it's been consistently sold every 2-3 years for not much of an increase year on year.

Although I'm definitely more of a $$ vs feelings person It got me wondering - why is this house being constantly sold? It's number 13, could that have anything to do with it? Have you had any experience with this, or with the number 4 for Asian investors?

 

If you're serious about buying, speak to the neighbors - they'll know why it keeps changing hands

In certain areas, the house or unit number can influence price. Usually there is someone who is willing to put up with a superstitious number or other factors for the right price - or for those who don't care at all.

 

The neighbours might be the reason!

One of our properties had a few issues, and it's been sold every couple of years since, too - I'd be extra careful.

 

Surely you can't be that bad a neighbour Jess?

 

There's one nearby which sold 3/4 times in quick succession (ie over 10 yrs).

Always sold high $1m- low $2m.

Problem - too many levels / split levels. Occupants were constantly navigating stairs. Didn't appear to be an issue when buying but raised its head after settling in.

 

I'm fine, it's my friends that are the issue

 

Ah multiple sellers usually indicates... well something..... do some more digging and find out.
How many times has it been sold in the last 18 yrs exactly?
Check out surrounding terraces- do they have a similar history?
Ask the agent, the neighbours, the vendors, the solicitor, council records.... it may be just be flighty or short term owners but something more. Important to investigate and good luck.

 

The theory on it being number 13 is flawed. It's not like you buy a house and then drive down the street playing lucky dip which number did I get from the picture on realeaste.com.
Pretty sure you would know you purchsed a number 13.

 

numbers play a big difference to some people. this article on a new tower in sydney is taking it to the extreme


http://www.domain.com.au/news/the-missing-floors-in-sydneys-tallest-tower-20140620-zsazc/

 

Talk to the previous selling agents and ask about the reason for selling, if it was rented, talk to the property managers.

Neighbours as other said. We bought a property for a bargain price, and after settlement and renting it out. the next door neighbour gave me a call (I don't know how she got my number until now), and she was filing a police report. Spoke to the REA, she said that the next door neighbour is the reason the house was sold, and she went to police 5 times within 1 week. I had a lovely property manager who managed the complaints well, and spoke to police (she is known to them, so they usually ignore her, and don't act on her complaints).

Neighbours could make your life a nightmare, My tenant was not an easy guy, and he managed to handle her complains (I understand he annoyed her back with his own ways). We have raised the fence next to her to avoid future problems, and things are better now so far.

Thanks
Ramez

 

Your neighbours must be PRETTY bad to make someone sell. Ours are atrocious but we deal with it to avoid the selling/buying costs. We just don't talk to them much...

 

You mind sharing such addresses?

Cheers

 

I used to live in a very cheap hostel for a while. All the people living there were from the so called "low socio background", old single men/ladies, sailors, students or young people of interesting stories. There are about 100 people alltogether and regularly people died in their room due to aging or overdose.
I introduced a sailor friend to apply for rooms. One bigger room is cheaper than the smaller room. He chose the bigger one. Next morning he ran to my room, looking very scared, claiming a ghost was standing next to his bed. I sort of believed him and he was not a timid person either. He broke the lease and ran off.

 

I bought one like this as a PPOR.

After moving in laughed with the neighbors that every couple that moved in sold shortly thereafter due to divorce.

I'm not superstitious but ... Lo and behold...

 

Could be the neighours like others have said. Drop by and suss out he neighours.

Many years ago parents bought a place which we lived in for under 2 years before selling up due to bad neighbours. They openly told another neighbour that they would try to break into our house. One day came home with the window in the study room smashed and a brick on the car windscreen. They couldn't get in because my dad's a welder and we'd installed security all around the house.

The folks that bought the place off us had boxes of coke stolen on the day they moved in (had left them in their backyard).

Just did a search on onthehouse. It was sold 5 times between 1983 and 1997 prior to us buying it

 

Could it have a round-about just in front? Or a stop sign? Is it on a T-intersection?

 

I agree with the above sentiments... Something is up there! Would be really interesting to know why it is changing hands twice as fast as one would expect!

 

Sounds to me like you like this house!
It may also be that the people who lived there had a great job offer and chose to move? Perhaps they found their 'dream home' and priced their current home 'competetively' for a quick sale?
If you can, walk around the area at different times of the day and night, to see 'what goes on' ask the neighbours, but not the immediate ones.. Generally they won't have too much of an agenda,
I hope this helps!