A week ago I inspected my target property. Advertised as having large rooms and next to the Canning River I imagined this to be a gem. The property was very neat and tidy with manicured gardens of both old and new fashioned plants giving it an overall nostalgic but modern feel. The carport was well hidden but within easy access to the front door. There was a very nice front porch with wrought iron and screen plants so that summer evenings could be enjoyed. Jarrah timber floors gleamed on entering the residence but the advertised large rooms were in fact quite small. The main with built in robes was adequate as was the lounge and the second bedroom was set up as a computer room. The sleepout was accessed from the main house and set up nicely as a guest room. The kitchen was galley style with a recent upgrade, a small dining area and very clean and tidy bathroom with a separate toilet. A restful and inviting undercover entertainment area with an exotic garden was accessed from both the laundry and dining areas. The property had access to the rear from double gates with room for extra parking and a further fence secured the entertainment area so that pets could not easily escape. The asking price would be in the high $300's but the vendors were keen to sell as they had bought interstate.
My view is that this property would be excellent for DINKS as it is within 5 minutes walk from a major shopping centre, cafe's, cinema complex, health club, 10 minute walk from train and 50 metres from the Canning River walking and cycle paths. It would also be suitable for an active single lady in the 40 to 60 age range.
The Auction was held yesterday with 9 Agents and around 15 others in attendance. The Auctioneer asked for bids but none were forthcoming. He eventually gave a vendor bid of $345000 but as there were no further bids, the property was passed in. The Agent told me the reserve had been set at $365,000 and it was a steal at $345,000 but I don't believe the property had been marketed to attract the right type of buyers.Judith
A few years ago I saw people paying above the asking price for houses in a boom area.
If the other similar houses in the area are selling for around the reserve figure, and after doing all your due diligence you are confident the area and the house in question will appreciate in value, then offer the reserve, or maybe a bit less say; $350k.
Sometimes everyone wins when you pay the asking price.
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