Mailbox invite triggers neighbourly result in Bulleen
The vendors of a Bulleen home are thanking their lucky stars their neighbour checked the mailbox on the way to work.
An auction invite left by their agent found its way into the hands of a neighbour’s workmate, who two days later picked up 18 St Andrews Cres for $1.083 million at the May 11 auction.
“One of the neighbours got the invite on Wednesday night, took it to work on the Thursday and that’s where the buyer came from,” Philip Webb Doncaster East agent John Konidaris said.
“They saw it on the Thursday and ended up buying it on the Saturday.”
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The house passed in on the undisclosed only bid, short of the reserve price of $1.125 million, before being negotiated to the eventual sale price 20 minutes after the auction.
“We had good numbers there, quite a few people turned up that had seen the home,” Mr Konidaris said.
The buyer, who planned to move in, was attracted to the home because it was in the Balwyn High School zone, Mr Konidaris said.
“Location was the most important thing for them, and also it was a good size home and floor plan.”
Mr Konidaris said the federal Liberal Party’s recent $500 million announcement — that first home buyers would be given a leg up entering the property market — would have a positive effect on prices.
Under the pledge, which has also been matched by the Labor Party, 10,000 first-home buyers would only need to stump up a 5 per cent deposit on a home, with the government to guarantee the remaining 15 per cent banks require.
“This will obviously increase the number of first-home buyers coming into the market, which will mean the clearance rate will pick up,” Mr Konidaris said.
“But first-home buyers haven’t dropped out of the market like developers have — they’ve been a constant.”
A Doncaster home that had received no love on the market since February ended up selling for $155,000 beyond reserve at a May 11 auction.
No. 19 Whittens Lane was thought sold last October, only for the financial settlement to fall through.
The four-bedroom home was returned to the market with hopes of a private sale in February, but couldn’t find a willing buyer in the price range of $888,000 to $968,000.
But a decision to take the home to auction changed everything for the vendors, with the home selling for $1.105 million.
“It was an incredible auction,” Barry Plant Doncaster East director Mark Di Giulio said.
“It just goes to show, you should always auction your home because you just don’t know who wants what and who wants it when. It’s a classic case of ‘why didn’t the buyer buy it three months ago with a lower asking price’?”
Five bidders ensured there was strong competition for the property, with a couple eager to get a foothold in the Doncaster market winning the keys.
The vendors planned to upsize, believing they could get a larger property at a much better price in the current market, Mr Di Giulio said.
“I’ve noticed a huge influx of a lot of families wanting to upsize — they might sell for a little bit less but their money can go a lot further,” he said.
“If I can give any advice to my vendors, I would say go against the grain in this market — I would deliberately auction my home. Buyers want to go to auctions — subconsciously they think they’re going to get a bargain.
“They are then competing and they are justifying the value of the home through social proof.”
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