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Our house is up for auction tomorrow!; Anyone want to guess how the market has performed in the last 5 years?
Topic Started: 26 Aug 2011, 12:44 PM (18,710 Views)
BubbleTrouble
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Well? Howdja go Trojan?
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Piper
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My guess is that it was passed in, not sold, but negotiating with the highest bidder.
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Trojan
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Piper
27 Aug 2011, 07:16 PM
My guess is that it was passed in, not sold, but negotiating with the highest bidder.
Hit the nail on the head .... passed in and was negotiating with highest bidder.
But looks like it won't be able to reach an agreement today.

But the answer to the questions of the highest genuine bid (not vendor) was around $850k plus or minus $10k (deliberately being vague so I don't give away my exact address)
So the winner is sentsie who guessed $800k+ :beer:

Still deciding what to do but at this stage, looks like we will pull the property from sale because we are not anxious to sell.
Kids don't need their individual rooms yet at this age so we will delay building our dream home until the market picks up and we can sell this house for more.

The new house we bought is tenanted (tenant stayed on when we bought the house) so we have now become unwitting landlords and the "scum property investor"


Edited by Trojan, 27 Aug 2011, 07:59 PM.
I put trolls and time wasters on my ignore list so if I don't respond to you, you are probably on it ....
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Mahamed
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Morbidly Obese

Trojan
27 Aug 2011, 07:50 PM
.... passed in

after this (negative ?) experience, did you change your mind about how strong the market is , or still think its all rosy in sydney ?
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Trojan
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Mahamed
27 Aug 2011, 07:53 PM
after this (negative ?) experience, did you change your mind about how strong the market is , or still think its all rosy in sydney ?
I wouldn't call it a negative experience. I treat everything in life as a learning experience so when I had my first car accident, I became a more observant driver.

As for market strength, it certainly wasn't as strong as it was say last year but it far from completely quiet with no buyers out there.
Bidding started at $800k and there were 3 people contending for the place (out of 5 registered bidders) so people with money are out there looking to buy but they weren't bidding as if "they were about to be priced out forever"

As an aside for those interested, the highest bid came from a couple who were buying their first home!
Edited by Trojan, 27 Aug 2011, 08:07 PM.
I put trolls and time wasters on my ignore list so if I don't respond to you, you are probably on it ....
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hoofarted
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Quote:
 
Kids don't need their individual rooms yet at this age so we will delay building our dream home until the market picks up and we can sell this house for more.


So Shadow... About that "babies create demand" that you were talking about... Does this mean that the "demand" is optional? Does this mean that the "demand" is not tangible or quantifiable so therefore just theory? Sorry mate but your argument is a loss. :banned:
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earthsta
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Trojan
27 Aug 2011, 07:50 PM
Piper
27 Aug 2011, 07:16 PM
My guess is that it was passed in, not sold, but negotiating with the highest bidder.
Hit the nail on the head .... passed in and was negotiating with highest bidder.
But looks like it won't be able to reach an agreement today.

But the answer to the questions of the highest genuine bid (not vendor) was around $850k plus or minus $10k (deliberately being vague so I don't give away my exact address)
So the winner is sentsie who guessed $800k+ :beer:

Still deciding what to do but at this stage, looks like we will pull the property from sale because we are not anxious to sell.
Kids don't need their individual rooms yet at this age so we will delay building our dream home until the market picks up and we can sell this house for more.

The new house we bought is tenanted (tenant stayed on when we bought the house) so we have now become unwitting landlords and the "scum property investor"


Should have accepted the offer.

You'll be chasing the market down from here on
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NotFooled
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The Bear Whisperer

earthsta
27 Aug 2011, 08:20 PM
Should have accepted the offer.

You'll be chasing the market down from here on
Strangely I find myself agreeing somewhat with earsta. While I doubt the market will fall in any significant way, it may be better to accept the offer and bank the cash (or pay off debt). Sellers have to consider very carefully the opportunity cost in a flat market.
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Simon the likeable
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Trojan
27 Aug 2011, 07:50 PM
we will delay building our dream home until the market picks up and we can sell this house for more.


With respect, have you considered the possibility that a pick up in the market could be a long way off, with a significant decline in the meantime ?
Edited by Simon the likeable, 27 Aug 2011, 09:22 PM.
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raveswei
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Trojan
27 Aug 2011, 07:50 PM
Hit the nail on the head .... passed in and was negotiating with highest bidder.
But looks like it won't be able to reach an agreement today.

But the answer to the questions of the highest genuine bid (not vendor) was around $850k plus or minus $10k (deliberately being vague so I don't give away my exact address)
So the winner is sentsie who guessed $800k+ :beer:

Still deciding what to do but at this stage, looks like we will pull the property from sale because we are not anxious to sell.
Kids don't need their individual rooms yet at this age so we will delay building our dream home until the market picks up and we can sell this house for more.

The new house we bought is tenanted (tenant stayed on when we bought the house) so we have now become unwitting landlords and the "scum property investor"

entering a new global depression with two mortgages and falling market sounds very risky to me.

I think you should reconsider offers and let one more "generation" of greater fools to pick up at least half of the tab.
.
http://popping-bubble.blogspot.com/

Thinking of an Australian property speculator (PI):
Inaction = missing opportunities.
Missing opportunities = losing.
Too much thinking = inaction.
Thinking = missing opportunities.
Therefore thinking = losing.

disgraceful little man Frank Castle owes a house to Salvation Army

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