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Real estate sales in ACT

vtr1k 2 March 2008 115

We have been trying to sell our reasonable family home at Gleneagles Estate for 6 months now.  There is nothing wrong with it, we have just outgrown the house.  What I can’t understand is that people are saying in the papers, the net and other forums that they cannot get a decent sized house on a good block of land for a reasonable price in Canberra.

Has anybody else come across this?


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115 Responses to Real estate sales in ACT
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deadtree89 deadtree89 11:10 am 05 Mar 15

im no advocate for real estate agents but when I had no choice Mitchell Carney at Maria selleck Properties Helped me so much and now my view has changed

Mælinar Mælinar 2:09 pm 05 Mar 08

Sorry, who are you ?

Blow in.

Shinigami-Gus Shinigami-Gus 1:25 pm 05 Mar 08

Maelinar is a hater… forget what he say’s… I think he comes on the site just to pick people apart because it’s an environment where he can’t get his ass kicked for his arrogance and ignorance… your the poser maelinar, I bet you vote liberal don’t you?

Mælinar Mælinar 10:35 am 05 Mar 08

VTR1K – Special G hit the nail on the head – 14months on the market means you have brought an overpriced elephant.

GP – here’s where you could be useful and describe the property valuation triangle to VTR1k, I’m not going to bother as my rudimentary interpretation would either confuse everyone or have everybody in stitches – and you are the self-confessed supposed resident ‘expert’ on real estate. Time to put your money where your mouth is.

I’m with Thumper though, its pretty priceless you show up attracting more heat than a tin of dirty uranium in Iraq, then have the gall to imply that you are a reasonable poster.

Poseur more like it.

Thumper Thumper 8:20 am 05 Mar 08

Geez GP,

and what do you add?

Nothing, unless it has something to do with expensive houses.

oh, and I don’t go changing my log in name to comment on the same thread as a different person.

Simple as that my friend.

maybe you could post something of interest now and then?

Special G Special G 8:04 am 05 Mar 08

You forgot to mention location close some good places to take the firestorm.

If the house took 14months to sell last time me thinks there is something wrong with it.

All credit to Potts for sticking around even if he is a pompous ass

I-filed I-filed 8:02 am 05 Mar 08

n vtrk – we all know how it feels to be locked out of the Sydney property market, but it must be worse if you did it to yourself!

nyssa76 nyssa76 7:36 am 05 Mar 08

Keep burying yourself vtr1k. 🙂

vtr1k vtr1k 10:24 pm 04 Mar 08

GP – thanks for the advice, my cousin Jim at Eastview mentioned you were a smart cookie.

Nyssa67 – do you own or rent? From the gist of your conversation, I think the answer is rent.

We moved from Sydney (sold a two bedroom townhouse and bought in Canberra – with plenty of change)with the intention of bringing our children up and then retiring somewhere nice. Well all good plans change, we want to sell our house and will wait for the right buyer for the price we want – this may take time (it took the original owners of our place 14 mths to find us). We don’t have a mortgage so interest rates don’t affect us (thank god for all our buying and selling over the years)and therefore we can wait. All we want is to provide for our children some of those things we did not have.

So instead of bashing the suburb, house prices or people, maybe you should put the energy into buying now – any property will do!

And by the way, yeah I may be mad, deluded and crazy, but I own my own property, and the size of my d$%^# does not matter – it used to work as I have a wife,4 kids, and a vasectomy!

Over to you

sepi sepi 10:04 pm 04 Mar 08

I quite like that part of Kambah – quick to Woden and Civic on the parkway, and yet really close to the river and the bush etc. Out of my price range though.

cranky cranky 9:57 pm 04 Mar 08

Location, location.

Gleneagles has always struck me as a bit of an imposter. Kambah round a golf course, sold at premium prices, it really has not established it’s location credentials. I have the same feelings regarding Jerra, but have (probably illogical) horrors at the thought of NSW governance.

I-filed I-filed 9:41 pm 04 Mar 08

At the price you’re asking, that 6 months would have allowed you to discount some $30,000 in interest forgone…. if it isn’t selling, there has to be a reason. Small house near me just sold for $750,000 after one day on the market (inner city)

sepi sepi 8:32 pm 04 Mar 08

I wish you guys wouldn’t chase new posters like Margo Kingston away.

I’m sure she would have had some interesting stuff to say.

needlenose needlenose 5:46 pm 04 Mar 08

What Ant said. (quite a long way back in this thread).
Times 1000.

nyssa76 nyssa76 5:31 pm 04 Mar 08

I have to tell you. This guy is a real nutter.

He logged onto my teaching blog and used my real name to post a piss-poor comment.

I mean WTF? Seriously that is like SingleWhiteFemale crazy.

VYBerlinaV8_the_one_they_all_copy VYBerlinaV8_the_one_they_all_copy 5:01 pm 04 Mar 08

The reason I buy in the range I do, is because it seems easier to me to find properties that are somewhat more ‘resistant’ to price drop because of location and demand, and that yield well from day one with good potential for yield growth over time. To me, I would feel too exposed on the higher end properties (such as Glebe Park), which is why I don’t buy them.

One of the important concepts to understand here, I think, is that there is a difference between exclusivity (ie limited supply) and price, event though the two often correlate. When you can find properties that still offer a measure of exclusivity, but aren’t exorbitantly priced, then I think you’re on a winner. Of course, these properties are not common, but can be found if you know where to look. I believe that Braddon has had some such properties over the past few years, simply because of it’s location, and the fact that many properties were cheaper than what was available in Turner and O’Conner and the City. Sure they aren’t as new, but this means they are cheaper to purchase. And the Turner and O’Connor apartment wannabe’s line up to rent them…

I guess my point is that there are many paths to wealth through property. My preferred approach is to get good, middle of the road returns over the longer term with little effort and not much risk, all while having minimal outlay of my own $$. I don’t believe investing top end provides this. It obviously works for others, and good on them, but I don’t think I could be convinced to deviate from my current strategy, at least for a while.

jill jill 4:49 pm 04 Mar 08

maybe the penthouse in Glebe Park is the answer! LOL

thetruth thetruth 4:34 pm 04 Mar 08

in the last slowturn it was the $400k to $500ks that were the first to stop moving and had to be discounted heavily (my house was valued at $500k and six months later $440K it then recovered). This time I think folks will need to sell more (the previous slow down was not based on any change in econommic circumstances more the market got ahead of itself and everyone paused – this time there will be panic selling)

jill jill 4:28 pm 04 Mar 08

Oh Graham why are you doing the hard sell on Glebe Park? Not because you developed it through Independent? I am all for a bit of well placed product placement but the great thing about RA is we get a break from cash for comments! Put an ad in the CT if you need to sell some apartments not here!

The top end doesn’t fall first VYBerlinaV8_the_one_they_all_copy I have not read that this has happened in any state and certainly in Canberra it is easy to work out the numbers from allhomes that the ‘ top end’ gets stronger and stronger as it is resistant to interest rate rises etc. + they can’t build any more houses on the lake at Yarralumla for example so the prices go up with demand. Out in suburb land they just build another suburb that looks the same that is why the western suburbs of Sydney has suffered the largest drop in prices unlike the ‘good’ areas which at worse levelled for a period then kept jumping up!

VYBerlinaV8_the_one_they_all_copy VYBerlinaV8_the_one_they_all_copy 4:15 pm 04 Mar 08

Ha!

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