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House being sold every 2-3 years

Discussion in 'General Property Chat' started by jodes, 1st Feb, 2016.

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  1. jodes

    jodes Well-Known Member

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    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?
     
  2. Simon L

    Simon L Investment Property Buyers Agent Business Member

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    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.
     
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  3. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

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    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.
     
  4. Scott No Mates

    Scott No Mates Well-Known Member

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

    wylie Moderator Staff Member

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    Neightours... or ghosts... seriously!

    Whether some believe it, or not, there is a local house that has sold regularly, and when rented, tenants would break the lease after a couple of months. I've written about this house before so won't bore everyone again, but it is well known in the area.

    And for those who don't believe in this stuff, then perhaps there is another explanation, but my friend refused to go into the house to visit the family after a while, cold rooms, "moving floors", lady at the end of the bed that only the children could see. I'm fairly "normal" but I believe there is something "out there", a presence, whatever.

    These friends had a ghost in their house too. Never frightened of it, but overnight visitors freaked out more than once. These are normal people too, not "weirdos".

    They sold recently, and new owners have just moved in. I'm waiting to see what happens.
     
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  6. Scott No Mates

    Scott No Mates Well-Known Member

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    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.
     
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  7. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

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    I'm fine, it's my friends that are the issue ;)
    upload_2016-2-1_10-18-56.jpeg
     
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  8. Jacque

    Jacque Buyers Agent and Bookworm, Sydney Business Member

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    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.
     
  9. albanga

    albanga Well-Known Member

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    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.
     
  10. melbournian

    melbournian Well-Known Member

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  11. R.B.

    R.B. Well-Known Member

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    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
     
  12. Jennifer Duke

    Jennifer Duke Well-Known Member

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    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...
     
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  13. ashish1137

    ashish1137 Well-Known Member

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    You mind sharing such addresses?

    Cheers
     
  14. wylie

    wylie Moderator Staff Member

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    I'd rather not do that. Suburb is Holland Park though (both houses that I know the history of are a few houses apart). I have been in one many times and never felt anything but the big tough looking husband said he often saw something (often in his peripheral vision) in the same area of the house. It ever bothered my friends much but their kids (now grown) absolutely refused to use one bathroom after some strange things happened at different times.

    I have many first hand stories. A whole family of five (and some overnight guests) cannot be crazy. My friend said she never felt threatened but having moved house she now feels a weight has lifted that she never realized was there.

    The other house was close and she stopped going in to visit that family. She felt very unsettled in that house.

    I'm curious to know why you want the address? Have you bought in Holland Park recently?
     
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  15. Kangaroo

    Kangaroo Well-Known Member

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    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.
     
  16. VB King

    VB King Well-Known Member

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    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...
     
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  17. Befuddled

    Befuddled Well-Known Member

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    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
     
  18. WattleIdo

    WattleIdo renovating Premium Member

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

    legallyblonde Well-Known Member

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    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!
     
  20. SeafordSunshine

    SeafordSunshine Well-Known Member

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    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!
     
    Last edited: 4th Feb, 2016