VIC Thoughts on these Corio / Norlane Properties

Big congrats @Lions4Eva, well done mate! Like @ashaarrh said, let us know when you're in the area next and we can catch up for a coffee and/or a bite at the Corio fish and chippery. If @Dave3214 is around, it'll be great to have a local there too! Speaking of which, a Melbourne west meetup is long overdue.

 

Thanks @G TOWN! Please let me know if there is a meet up - Would like to get to know more of you fellas on here! Also an excuse to get out of the house and see Geelong!

I have set back some money for renovations, however what attracted me the most was the location and with the price under 300,000 (Extremely affordable imho) I just could not resist. The other houses I inspected looked like they required more resources for renovations, like this one- 22 Robin Avenue Norlane Vic 3214 - House for Sale #125822410 - realestate.com.au

Overall though, as mentioned above the location is what won me over. I appreciate your kind words and advice Dave! If you are at a geelong PC chat meetup, I'll be sure to shout you a drink!

 

Hi @ashaarrh!

Purchase - $272,000,
Size - 535m2
BR - 3
Rental Return - after renovations - $265

12 Oregon Avenue Corio Vic 3214 - House for Sale #126081722 - realestate.com.au

Congratulations on your property by the way, I wish you every bit of success for your 2nd! I am 23 years old to answer your question.

And I would love to attend a meetup and it would be fantastic to you see you mate, the more the merrier - Just let me know and I will set aside time!

 

Thanks mate! Also enjoy reading your posts!

Definitely! Feel free to organise any time and I will come along. I should be around Corio this and next week, so if you are interested please PM me! (Keen to meet new people as always)

Sorry for flooding the thread recently. It means so much to me and your words mean a lot.

 

I'm down that way the week after, would of been good for a meet up. But only for 3 hrs just to do a quick house inspection. Gotta love those cheap $35 flights.

 

PM me mate, we can go for lunch right after your inspection (Providing work/other commitments don't clash!).

 

LOL like Josh I thought it was that one too. You got it for a great price so congrats! I wish I started at 23...except I was too addicted to video games back then

Always good to see another young, enthusiastic and positive buyer marching into Geelong! So what's next on the card?

 

Thanks David! Also have enjoyed reading your posts ever since I have joined this forum!

Might need a year to settle down, however so far I am looking at Ballarat (Though I havent done that much research yet! Looks promising, the growth in the central areas)

 

Congratz @Lions4Eva

Even though I'm not at my 20s anymore and just started my very very first journey in property, but I believe better late than never.

I've observed property market in Norlane in last couple weeks and would like to ask for your advice.

Which block in Norlane is the bad one (reputation, tenant,etc...).

Is public transport an important factor in the area? How about the estate which is near the station and the Ford factory.

Thanks,

 

There's been a reasonable amount of if not quite gentrification, at least a replacement of old 50's weatherboard places with the shiny new Norlane properties which now dot the landscape, especially in the area within North Shore Rd, Forster St, Station St and Portland St, right behind the hotel on the corner. There was a time with the train scheduling where North Shore was almost an afterthought as a station, as it used to be maybe every second train at most which stopped there as with the Corio station to it's north, but with the Overland now also stopping at North Shore it's timetable is much more regular, which i think is helping a bit to boost that area.

The Ford factory itself is essentially closed, and i'm not really sure what is proposed for the site at this stage, but it's a huge area which at least is still got a skeleton staff there while it's being sort of dismantled. I hope whatever happens to it happens quickly after it's vacated, as if it lies abandoned it may become a haven for vandals. But if it is developed into a retail precinct or better yet is able to be redeployed in some form of other manufacturing, then that would be great for the area.

This place is quite close to the station, and being off what are quite busy roads as Station St/North Shore Road are with trucks....would probably fit the bill too in this quadrant i mentioned.

14 Stradbroke Street Norlane

 

I'll be here of course..since i live in Norlane... But being a mad Cats fan, i think Geelong play the Pies Saturday arvo. But Sunday's free if anyone's down and wants to catch up. As i've done for Saf and Kuros, i'd even take people around Geelong for a bit of a look-see if they like...i used to drive taxis years ago and i quite like driving around chatting about property!

Just as a note when talking with Kuros a couple of weeks ago, as i told him that Geelong's property prices along Shannon Ave/Thompson Rd kind of fall quite starkly as one heads in a Northerly direction. 360 Shannon Ave, a large Californian bungalow sold for $725K

360 Shannon Avenue, Newtown, Vic 3220 - Property Details

Prices not dissimilar to this also are seen further along towards Manifold Heights, but as we traverse along this long road a few kilometres further up, prices under $300K can be got. As some people might be surprised to see with Geelong, it's not a particularly large city by distance, so the amenities of a much more expensive area can easily be reached from a much cheaper suburb with a relatively short commute.

Such as this one, up not far from my place..

572 Thompson Road Norlane Vic 3214 - House for Sale #126168286 - realestate.com.au

 

If anyone is looking to purchase this property > 87-89 Walpole Parade Norlane Vic 3214 - House for Sale #124251642 - realestate.com.au, I'd advise you don't buy it.

1. Right opposite rail
2. Significant crack in the structure of the house (front right hand side)
3. The damn entrance gate is hard to open (the right side needs to lifted to be able to open it)
4. Surely not as nice in reality as it looks in pictures (the kitchen's the highlight of the house)
5. Dusty, desolate area. Likely the only house in the block.
6. Hasn't sold despite being on the internet for months

Hope this helps someone.

 

I didn't even realise Walpole Parade has any homes on it...I thought residential ended at Station Street!

 

Lol, I drove past it twice too, not kidding. Ended up calling the agent to tell me where it was and then saw the only car parked kerbside was hers. As I said, desolate area, not someplace you'd want to live or raise kids in. I bet if someone offered say $210k for it, the vendor would accept it in a heartbeat.

 

If it was unrenovated, weatherboard, and the price started with a 1, I'd consider it. As it is, no way!

 

14 Stradbroke Street Norlane
What r ur thoughts on this one?
Hoe much it should sell for? Considering the market in norlane is getting hotter

 

2 bedder weatherboard on a 700SQM block asking for $280 - $300K...
To give you some idea of comparison, next door 16 Stradbroke sold for $220K in June 2015 (according to the photo it looks renovated too) and rent at $250/week in Sept 2016. So what it's currently asking now is definitely a big jump.

Suggest you find out a bit more about how much the land value is on the 700SQM (you can get this from rates and valuation notice as part of section 32). Once you have this info you can then make a call on how much you're willing to pay for the house. The closer you can purchase this place at the land value the better

 

Thanx for the info mate but i cant seem to find the land valuation on council charges at sec 32..
I checked about this property.. It sold for 220k in 2011..resumpting has been done in 2015.

 

Thanx for the info mate.. How did u find about the porch that it is 2 m wide... Also where can i see more details about the property, also how can i find about its council valuation as i cant seem to find it in sec 32?
Regards