OK. This is real estate. It’s never NOT the silly season. But right now is sillier than … forever?
Choke On Wheaties Time?
47 Lansell Road $20m. Really. And Those Who Are Supposed To Know had it at $16.5m.
Riots In The Dress Circle
The lack of choice a few rungs down in the school belt is leading to some legendary wallet wars.
Kintor Street, Camberwell $7.7m with half a dozen hands in the air.
Park Lane, Kew $6.91m and four hands up.
This is not Toorak, people. It’s not even South Yarra.
But that’s 10 people running around with $7m to put down on somewhere to call home; and that does not suggest the market is falling off a cliff.
Conundrum in Glen Iris
Even in outer suburbs such as Glen E., silliness persists.
Two auctions, an hour apart.
11 Glenvale Road $2.5m expected. 12 hands push it to $2.7m and then two exchange waves to $3m. That’s $300k added because nobody would call it quits. Earlier this year $2m would have bought it and it’s hard to see why an extra $1m was justified.
Around the corner at 8 Irymple Avenue a little sense broke out. Three bidders. A better home. A more realistic $2.73m.
The cottage at 21 Mathoura Road, Toorak Bought a year ago for $1.825m with plans to turn and churn.
No happines there. Not a whiff at $2.95m and now there are hopes of $3.45m.
Hope does spring eternal. That may be about as long as it takes.
Shall We Dance?
Ian Carmichael found himself tripping the light fantastic on Saturday. A bidder who stuck to him like a full-back to a full-forward on Grand Final day.
Carmichael, with great aplomb, didn’t miss a step.
A word of warning: Rumour has it the bidder is learning the tango.
When the schools go on holiday, so does the market.
It’s not just the vendors. The buyers, the lawyers, the conveyancer, the agents. Everybody.
Not a soul.
But we trust there’s some plotting to bring more homes to market when Spring proper dawns. There is demand, but it’s still way ahead of supply.
Upstart Creams Giants
Our little child, realAs, is growing up and currently making pre-sale price predictions that come within 4% of most prices paid.
Gloating is unbecoming, but next place goes to a lot of air until you hit the estimates now offered by the real estate sites and (paid!) online valuation services.
The realAs secret is no big secret: It listens to the market and factors in the opinions of real live humans — because it’s buyers who decide how much to pay.
And there’s an algorithm called HuSA — but that is a secret.