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Offers between 400-900k?!

Discussion in 'General Property Chat' started by hammer, 9th Mar, 2016.

  1. hammer

    hammer Well-Known Member

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  2. Xenia

    Xenia Adelaide Property Manager Business Member

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    Offer $399,000 :)

    Must be a unique property and difficult to price.
     
  3. sanj

    sanj Well-Known Member

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    It's an apartment in a tower of decent sized so nothing unique
     
  4. Xenia

    Xenia Adelaide Property Manager Business Member

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    Apartments are not the easiest thing to price or sell, especially if there is no recent sales data.

    Other than my speculation, I have no idea why the range is so wide

    I would accept between $900,000 and $2.5 mil on my last listing - true story.
     
  5. Scott No Mates

    Scott No Mates Well-Known Member

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    125% range for price - not acceptable in my book.

    There are always comparables, the next apartment block, next suburb etc. It can't be that unique.
     
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  6. HUGH72

    HUGH72 Well-Known Member

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    Somewhere close to reality at one end and dreamland at the other.
    So many new CBD unit blocks still going up with prices falling along with rents.
    I'm amazed that new blocks keep appearing in the CBD and Cullen Bay.
     
  7. legallyblonde

    legallyblonde Well-Known Member

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    That is insane.. if you don't have a clue just say opento offers!
     
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  8. Blacky

    Blacky Well-Known Member

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    So if I offered $2.6m it wouldnt be accepted?

    What it should say is Offers above $900k. Having such a large variance in 'range' is just laughable. If I was looking to buy, I would ignore completely the high number.

    The only way this may work would be to have people 'anchor' to the high number even though it is a rediculous figure.

    Blacky
     
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  9. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    Well it's a good thing it was the seller's decision not yours then.

    The apartment block has 95 units in it. In the past year there has been 5 sales all for around the $550k mark. The higher number suggests it may be near the top of the building but 92 sold for $548k in late 2014 when Darwin's real estate economy was doing a lot better.

    Based on the drop in values in the area I would best estimate it in the high 400s to low 500s. Ta da! My weeties packet real estate license FTW.
     
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  10. New Town

    New Town Well-Known Member

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    $400k for locals, $900k for southerners
     
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  11. hammer

    hammer Well-Known Member

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    I'm seeing 3 br apartments now regularly below 400k...its totally buggered up the whole market. This one is nicer though...but still, body Corp is 6-8k a year and it's not like any prospective buyers don't have choice....

    Which makes the price range even more stupid...
     
  12. Player

    Player Well-Known Member

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    Hahaha. Come in sucker :p
     
  13. D.T.

    D.T. Adelaide Property Manager Business Member

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    You wouldn't anyway, it's a 400k property
     
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