VIC Post a Bargain Melbourne

make sense because on google maps there was a mention of 16A but I couldn't see that the land had been subdivided so the price might reflect some tricky stuff going on there

 

No I get that but as long as rates remain low people will still maxsmise their entire servicing.
Always remember most people only care “How much can I borrow? What will my repayments be”. The credit squeeze limits the how much can I borrow part but those emotional owner occ buyers will still keep the markets high because their repayments are low and there are still plenty of dual income families who the credit squeeze doesn’t effect. Most people with no other properties run out of deposit before they do servicing.

 

Anyone think this is a bargain
29 Tovey Street Reservoir Vic 3073 29 Tovey Street, Reservoir, Vic 3073 - Property Details

Personally I think it is a clear sign of that particular market cooling down (the not so good pockets of Reservoir). It could get $650-$700k if sold 6-8 months ago.

My friend bought one just not far away from this one end of 2016 for around $720k and needed to spend almost $30k for a reno since the house was in a very bad condition. The major different here is my friend one is 750sqm rectangular block with subdivision potential.

 

Market is cooling down, more opportunity to negotiate and get a bargain.

but this one only has 456sqm of land, average plus interior though, doesn't look like a rectangular block also, could be the reason for the price.

I have only see a few bargains sold, but the under priced properties all got picked up very quickly by ppl

 

Oh, my bad. I did not check the land size. And the shape is terrible.

 

Heidelberg West:

2 Blackwood Parade Heidelberg West Vic 3081 - House for Sale #128734442 - realestate.com.au
Passed in on Vendor bid for $640K, now listed at $786,500

16 Redwood Street Heidelberg West Vic 3081 - House for Sale #128734766 - realestate.com.au
Passed in for $630K, now listed for $748K

I don't consider either of these a bargain, but a year ago they probably would have sold at auction for current listed price or close to it. Sellers yet to revise expectations...

 

Anyone got some bargains for Melbourne in 2019??

 

Noble Park seems to be selling cheaper at $170,000
Sold 9/37 Corrigan Road, Noble Park VIC 3174 on 06 Jun 2019 - 2015143807 | Domain

 

I don't think this is a bargain, but interesting to see more distressed sales appear in the last month or two in the Melbourne suburbs that I'm following:
57 Charles Street, Seddon VIC 3011 - House For Sale | Domain (Can't even sell with approved plans.. ouch)
&
70 Bradshaw Street, Essendon, Vic 3040

 

I saw this one recently along a similar line:

24 McLean Street Brunswick West Vic 3055 https://www.realestate.com.au/property-house-vic-brunswick+west-131190854

 

so esssentially its illegal works?

 

Been looking around for bargains too. Choices not many.

 

There's lots of houses on the market that have sat there for a long time after passing in. So clearly most vendors aren't giving in on the hope of the market bouncing back in the short term. So I'd say there are 2 possibilities that will play out over the next 6 months. Either:

1) The various moves to reinflate the market will bolster confidence, prices will increase somewhat and the stock that's been sitting there will eventually get bought. The big question with that is whether there are enough buyers who can afford this with much less loose (and outright fraudulent) lending added to more accurate expense calculations. Things like the crackdown on moving money out of China don't help this either.

Or

2) Eventually enough vendors won't be able to wait any longer and they will drop the asking price instead. If prices still drop after all this intervention the patience could easily turn to FONGO and a massive rush for the exit. That's what could cause a significant price crash and lead to bargains as the market becomes undervalued due to massive negative sentiment just as it's been overvalued due to massive positive sentiment. That's the Ireland version 2 scenario.

Either way I think we'll know in 6 months. In the meantime I think it's a good time to move out of property investment since the chance of credit loosening enough for significant growth in the next few years is minimal. And if you've got spare cash and **** does hit the fan you'll be in a great position to pick up a real bargain or maybe a number.

 

Saw this one. Sold without permits - guessing they started then had the plans knocked back? Poison chalice!

 

Heap of development potential blocks in outter East such as boronia, Ferntree gully and mooroolbark. All have lost 10-15 percent in a year or two. Will correct in the next year. ImI jumping on now

 

101 Pigdon Street, Carlton North, Vic 3054
101 Pigdon Street, Carlton North, Vic 3054

Bump

 

Wait to see what it sells for at auction

 

I love it! Could see myself there!

 

When you consider something similar selling for 1.8m - still as a 2 bedder. Could be a Ton if profit in this one

463 Canning Street, Carlton North, Vic 3054
https://www.realestate.com.au/sold/property-house-vic-carlton+north-132490146

 

I know the location of this house. Pigdon st is no where quality of location that Canning st is.

Pigdon has a south facing rear and is on a substantially smaller block.

For you info Pigdon just sold for 920k at auction