how much it would fetch

Discussion in 'Where to Buy' started by samiam, 11th Jul, 2016.

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  1. +men

    +men Well-Known Member

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    Interesting.... I thought the reason they put it as auction only becoz they want to get it sell on the day regardless of what price its sold for, ie. no reserve. Otherwise there is no advantage to list as auction considering the low clearance rate in brisbane.
     
  2. samiam

    samiam Well-Known Member

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    I see! It is not heritage listed
     
  3. Bran

    Bran Well-Known Member

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    I haven't checked zoning, but much of that area is LMR, but still has character overlay. This is why all the units are built out the back of the QLDers in the area. It looks 1930s, so need to keep the facade most likely.
     
  4. Pumpkin

    Pumpkin Well-Known Member

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    Oh yes, most certainly especially amongst the Chinese.
     
  5. Pumpkin

    Pumpkin Well-Known Member

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    Couldn't help myself and drove to have a look. Took photo and will upload when I am on PC.

    Nice wide street almost fully parked both sides, believe to be by hospital staff and clients. In the higher end of the street so cant imagine it to flood (read almost impossible). What's interesting is the neighbour on the left has a bigger block and much of it is spaced out. So this property would have quite a lot of space unlike most 400 sq blocks. It has my favourite flame of forest tree! Personally I doubt it'd go below $600k.
     
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  6. samiam

    samiam Well-Known Member

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    you are right, it has character overlay. its LMR
    we could do the bidding game again ;)
    520k max for me
     
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  7. vbplease

    vbplease Well-Known Member

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    bidding game sounds good :)

    my guess - passed in at auction and sold 6 weeks later for $588k
     
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  8. Bran

    Bran Well-Known Member

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    490
     
  9. MTR

    MTR Well-Known Member

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    don't want to be a party pooper, but do you like the holding costs, especially If you are not developing straight away.

    have you worked out what and if you can develop on property, and rough numbers,
    . Seriously don't get caught up in the dream, could be a nightmare if you not keeping it real. Growth us not a given, but would be nice
     
  10. Moych

    Moych Well-Known Member

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    Might be worth waiting until the building inspection has been completed too before you run all the numbers. It's difficult to tell from the photos, but most of those walls look a lot like asbestos to me. Will add a fair bit of additional work and expenses to the final value, whether just a reno or full demo.
     
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  11. samiam

    samiam Well-Known Member

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    not buying this one so haven't worked out in details. In general though, should be ok with holding costs. with our pay brackets, either not too PG or NG properties become almost neutral.. strategy for the time being is for CG (with future development) but have learnt that CG may not be just around the corner :oops:
     
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  12. samiam

    samiam Well-Known Member

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    You are the winner! it was sold for 610k (can't help asking the agent).
    It surprised me though
    How about you @Bran?
     
    Last edited: 20th Jul, 2016
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  13. vbplease

    vbplease Well-Known Member

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    Wow, $610 could have bought a much nicer house than that with more potential.. Wonder what vision they have for it, and budget :eek:
     
  14. wylie

    wylie Moderator Staff Member

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    That is what you pay in Greenslopes. Position, position, position. And that is a very nice house. You have to imagine the carpet ripped out, the walls painted, new kitchen and bathroom. It will come up a treat. That is what many Greenslopes buyers are looking for. Something not fiddled with.
     
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  15. vbplease

    vbplease Well-Known Member

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    As far as pre-war character houses goes, that's one of the worst I've seen (judging by the photos). I think the house is a liability for that block, which I agree is a fantastic location.
     
  16. Bran

    Bran Well-Known Member

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    Wow. I'm glad I didn't pursue it.
     
  17. Bran

    Bran Well-Known Member

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    Did you inspect it Wylie? Upstairs was great as you say. Downstairs was too scary for me.
     
  18. wylie

    wylie Moderator Staff Member

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    I didn't see inside this. The UCV is $530k and the BOQ estimate of value is $550k to $690k with "high confidence".

    Considering that UCV value usually lags real values (though they've just gone through the roof locally), someone is pretty much buying the land, and getting the house thrown in for free. But the house will come up a treat. We have one exactly the same, in about the same condition as this (but it had a much worse bathroom).
     
  19. wylie

    wylie Moderator Staff Member

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    The house looks great. It has all the character that a small cottage needs. You have to look past the horrible carpet, lining on the old verandah. The rest looks sold and straight.

    We bought one exactly the same (but probably worse) and it had been closed in like this. Ours didn't have fake timber on the old verandah. It had grass green lining board and fake grass for carpet. I still looks ugly from the street (until we open up the verandah) but looks great inside.

    Vbplease... you are from Brisbane. Surely you've seen plenty of this style of house in the inner suburbs? Lick o' paint, lick o'paint... half an hour. It'll look great.
     
  20. vbplease

    vbplease Well-Known Member

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    I may be focusing on the wall lining too much, but it looks like a character house without character. In my opinion a renovated blue chip character property like that shouldn't have fibro lining.. It doesn't have the aesthetic of VJ and mothers will think their little darlings will get asbestosis from the walls. It would cost circa $10k to get rid of.. If the VJ isn’t there behind, I think it would be a dud. Replacing with MDF VJ doesn’t look the same and plasterboard with the original fretwork looks terrible.. (in my opinion).