‚I attended an auction on friday and I would like to enquire if any of you have a clever counter to the guy/gal on the telephone gambit. This auction is the third in a row where the telephone bid chased up the price by 10% or more, two did not make it to the final hurdle. My problem is that 3 telephone bids were in the running vs. at least 45 attendee bidders, mere coincidence? I think not. Any thoughts?
Thanks a lot, Anon #2, looked at that property on the Remax site and now I am bleeding out of my eyes. HOLY COW that is an ugly house. Yes, objectively R1.795 mil is too much. Probably worth closer to R1.2. But you'd have to pay me R2m to get me to live there.
It is ugly, but the price probably includes the size:
Land Extent : 1293.00 M2 Building Extent : 147.00 M2
Drive north to Parklands, TableView, Blouberg and you looking at about 1,2M average for houses half the size on half the land. In fact newer areas like Parklands and some spots in Durbanville or Belville dont offer land sizes larger than 300 - 400m2 anymore, with house sizes sitting at around 100m2. So just maybe, owning an older 'needs TLC' property is starting to become a novelty, as they are few an far between these days. Especially if you can't afford the baby boomer 3 bar+ properties in Newlands / Rondebosh.
So if you have 2mil to blow for your PPOR, and you really don't want to live in a 2 bedroom shithole apartment in town, where do you buy?
On a side note, if you drive north of Parklands (after the hospital) you will notice that the new development there is starting to take shape. Off plan free standing units called Summer Greens (or something like that) is starting to pop up and they building like there's no tomorrow. Someone thinks the market is alive and cooking, or about to be, or they have no other choice. I believe a few of these have sold already, probably to FTBs sick of renting in the city, wanting to breed, and wishing to save Transfer duty. The problem is that in true Sunningdale fasion, they all look the same.
This then begs the question: If this takes off, it would make those that said that Parklands properties all look the same, eat their own socks. And not in a mystic Patenoster Cape St Francois village type of way. Literally all the same shape size etc. Thus, if the Nigerians move out, wouldn't the variation in parklands houses make it more appealing?
I appreciate the fact that you at least look at the numbers and perform some analysis but I'd like to point out the alternative for the same price:
http://www.remax.co.za/300277208/
So larger plot and bigger house: Land Extent : 1364.00 M2 Building Extent : 163.00 M2
I haven't seen this one with my own eyes but just looking at the pictures it's in much better shape. The other property has broken glass embedded in the tops of its walls - I assume for security.
So how can two properties in the same area have the same price and with the larger one in much better condition. Methinks someone is trying their luck...
Yep, looks like you are right. I stand corrected. Although in my eyes they both still rather ugly properties. 70s style architecture, the same guys that built TableView and Brackenfell.
When are property prices going to come DOWN??? I am tired of seeing smug a$$holes that bought 8 years ago for next to nothing and now own R3 million plus properties. These same smug a$$holes that can access equity on their fu@@ing houses which I can only dream of. How do first time buyers ever buy anything? I wish this was the 1700's and France so us peasants could revolt and start guillotining the smug basta$@s that keep telling us to eat cake! Viva le Revolution I say!
There is a house for sale in Clifton now for R100 million. I believe Mizz DOGon has it on her sticky books. I wonder what the shack dwellers in Gugs must think when they page through a tatty copy of the property trader and happen upon something obscene like this? Even Marie Antoinette would be ashamed to be seen in upper Clifton these days.
@ Benjamin to quote from the ad "Observatory is a quaint Victorian styled suburb, rich in colour and diversity." they went a bit hard on the diversity and not so much on the style I would say. Rampant metalwork ramparts lol!
Anyone got some news on the Pinnacle Point villas that Auction Alliance auctioned last week?
I heard a rumour that the same 3 bedroom villas that were originally purchased for R3,2m only managed to fetch R900k....and they are seriously considering accepting!
World Cup properties standing empty. Can you believe the numbers in here? The figures people were actually expecting to make, if accurate, boggles the mind. R70K for the month for a townhouse? The author does pose an honest question: What's going to happen to all these properties after SWC?
I'm not surprised they are standing empty. That's what happens when you are a greedy guts piggy wiggles! Maybe there will finally be some apartments available for rent in CT again after the SWC. You should honestly see the crap that has been available in CT on gumtree the last few months - and the prices have been insane. Who the hell wants to pay R6/7 k for a bachelor flat with no parking and no view!
"The Spanish Govt debt picture is seriously distorted, in different ways. The banks in Spain have chosen to ignore the reality of lower property prices, and have carried credit assets at absurdly high values. It is safe to say that the Spanish banks are ready to enter freefall. A major shock comes to Spain. For well past a year, they have refused to mark down much of any credit assets tied to property. Furthermore, their property markets have refused to mark down prices seeking buyers on the open market. The result has been a mammoth reduction in sales volume, as sellers want prices that buyers are unwilling to offer, with huge price gaps that are sometimes described as comical. Reality is set to strike, and strike very hard. The Greek focus will soon turn to Spain, and also Italy." by Jim Willie CB Editor of the “HAT TRICK LETTER”
20 comments:
‚I attended an auction on friday and I would like to enquire if any of you have a clever counter to the guy/gal on the telephone gambit. This auction is the third in a row where the telephone bid chased up the price by 10% or more, two did not make it to the final hurdle. My problem is that 3 telephone bids were in the running vs. at least 45 attendee bidders, mere coincidence? I think not. Any thoughts?
It is just me or is an asking price of ZAR 1 795 000 rather high for this place which according to the agent "needs TLC":
http://www.remax.co.za/Web-Reference/300290534/
I had a look from the outside and that definitely needs some TLC...
LS
Thanks a lot, Anon #2, looked at that property on the Remax site and now I am bleeding out of my eyes. HOLY COW that is an ugly house. Yes, objectively R1.795 mil is too much. Probably worth closer to R1.2. But you'd have to pay me R2m to get me to live there.
It is ugly, but the price probably includes the size:
Land Extent : 1293.00 M2
Building Extent : 147.00 M2
Drive north to Parklands, TableView, Blouberg and you looking at about 1,2M average for houses half the size on half the land. In fact newer areas like Parklands and some spots in Durbanville or Belville dont offer land sizes larger than 300 - 400m2 anymore, with house sizes sitting at around 100m2. So just maybe, owning an older 'needs TLC' property is starting to become a novelty, as they are few an far between these days. Especially if you can't afford the baby boomer 3 bar+ properties in Newlands / Rondebosh.
So if you have 2mil to blow for your PPOR, and you really don't want to live in a 2 bedroom shithole apartment in town, where do you buy?
On a side note, if you drive north of Parklands (after the hospital) you will notice that the new development there is starting to take shape. Off plan free standing units called Summer Greens (or something like that) is starting to pop up and they building like there's no tomorrow. Someone thinks the market is alive and cooking, or about to be, or they have no other choice. I believe a few of these have sold already, probably to FTBs sick of renting in the city, wanting to breed, and wishing to save Transfer duty. The problem is that in true Sunningdale fasion, they all look the same.
This then begs the question: If this takes off, it would make those that said that Parklands properties all look the same, eat their own socks. And not in a mystic Patenoster Cape St Francois village type of way. Literally all the same shape size etc. Thus, if the Nigerians move out, wouldn't the variation in parklands houses make it more appealing?
The horror!!
China Real Estate Bubble Bursts in Bond Market: Credit Markets
http://www.bloomberg.com/apps/news?pid=20601087&sid=aEqBAlH49CDo&pos=2
Anonymous 1:
Don't bid against the telephone. Rumour has it they talking to a phantom.
Hi Anon #3
I appreciate the fact that you at least look at the numbers and perform some analysis but I'd like to point out the alternative for the same price:
http://www.remax.co.za/300277208/
So larger plot and bigger house:
Land Extent : 1364.00 M2
Building Extent : 163.00 M2
I haven't seen this one with my own eyes but just looking at the pictures it's in much better shape. The other property has broken glass embedded in the tops of its walls - I assume for security.
So how can two properties in the same area have the same price and with the larger one in much better condition. Methinks someone is trying their luck...
LS
Anon #5
Yep, looks like you are right. I stand corrected. Although in my eyes they both still rather ugly properties. 70s style architecture, the same guys that built TableView and Brackenfell.
When are property prices going to come DOWN??? I am tired of seeing smug a$$holes that bought 8 years ago for next to nothing and now own R3 million plus properties. These same smug a$$holes that can access equity on their fu@@ing houses which I can only dream of. How do first time buyers ever buy anything? I wish this was the 1700's and France so us peasants could revolt and start guillotining the smug basta$@s that keep telling us to eat cake! Viva le Revolution I say!
There is a house for sale in Clifton now for R100 million. I believe Mizz DOGon has it on her sticky books. I wonder what the shack dwellers in Gugs must think when they page through a tatty copy of the property trader and happen upon something obscene like this? Even Marie Antoinette would be ashamed to be seen in upper Clifton these days.
If you thought those were ugly, try this:
http://www.hotpropertyincapetown.com/property.asp?area=Observatory&pid=249
Detailed information of risine real estate india
@ Benjamin
to quote from the ad "Observatory is a quaint Victorian styled suburb, rich in colour and diversity."
they went a bit hard on the diversity and not so much on the style I would say. Rampant metalwork ramparts lol!
Tabloid tuesday in propertyweb is priceless:
http://www.realestateweb.co.za/realestateweb/view/realestateweb/en/page322?oid=60593&sn=Detail
Anyone got some news on the Pinnacle Point villas that Auction Alliance auctioned last week?
I heard a rumour that the same 3 bedroom villas that were originally purchased for R3,2m only managed to fetch R900k....and they are seriously considering accepting!
World Cup properties standing empty. Can you believe the numbers in here? The figures people were actually expecting to make, if accurate, boggles the mind. R70K for the month for a townhouse? The author does pose an honest question: What's going to happen to all these properties after SWC?
http://www.property24.com/articles/news/opinion/Refurbished-and-empty-for-the-World-Cup/11720
I'm not surprised they are standing empty. That's what happens when you are a greedy guts piggy wiggles! Maybe there will finally be some apartments available for rent in CT again after the SWC. You should honestly see the crap that has been available in CT on gumtree the last few months - and the prices have been insane. Who the hell wants to pay R6/7 k for a bachelor flat with no parking and no view!
"The Spanish Govt debt picture is seriously distorted, in different ways. The banks in Spain have chosen to ignore the reality of lower property prices, and have carried credit assets at absurdly high values. It is safe to say that the Spanish banks are ready to enter freefall. A major shock comes to Spain. For well past a year, they have refused to mark down much of any credit assets tied to property. Furthermore, their property markets have refused to mark down prices seeking buyers on the open market. The result has been a mammoth reduction in sales volume, as sellers want prices that buyers are unwilling to offer, with huge price gaps that are sometimes described as comical. Reality is set to strike, and strike very hard. The Greek focus will soon turn to Spain, and also Italy."
by Jim Willie CB
Editor of the “HAT TRICK LETTER”
Sound familiar ??
Is there a link for the Spain article? Thanks
http://www.marketoracle.co.uk/Article19995.html
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