Wednesday Morning Peak Hour
4 March 2005, 04:42
This is our beloved (rental) suburb on a feisty peak-hour morning and by jimminy, wouldn’t we love to buy here. Alas, even with the ridiculous hiking of interest rates, sellers are very mercenary in these parts. It’s so depressing going to look at a place that is quoted at $A370K and it’s a run-down dump where some poor old duck recently died (nothing to do with the cockroach manure and rat poison I’m sure).
We did bid at auction last week, where the place was quoted $400K+ (by law they have to quote within 10% of the actual value of the property or they get in t.r.o.u.b.l.e. unless you’re John Roberts…) and the place was passed in at $410K – then we found out that the reserve was $A480K – what a frikkin’ waste of time for everyone involved – if you want $480K for your place, surely you’d invite prospective buyers who are going to cough up something near that amount.
Am I fundamentally missing something?
Permanent Link | - No..... it has been that way since at a least 1998 when hubby and I started searching for our first home in Melb. Very, very off-putting.... Good luck!!
— Deb Harrison Mar 4, 09:51 AM # - a friend of mine was looking at real estate in brooklyn recently and there was nothing decent to be had lower than US$1m!! ugh, i get heart palpitations everytime the hubby starts talking about spending money when i KNOW we should be saving it for the giant money-sucking hole that IS real estate in new york. geez. i've given myself a cold sweat just writing about it!
— gleek Mar 4, 03:00 PM #
