South Morang auction jumps from going backwards to ‘hallelujah’ in one bid
A South Morang auction has gone from “lordy Lord, it’s gone backwards” to “hallelujah” in the space of a single live bid.
Kerry Cercone put her parents’ three-bedroom home at 78 Twin River Drive under the hammer to help fund their retirement.
But a $400,000 opening bid had her worried.
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“I thought lordy Lord, it’s gone backwards,” Ms Cercone said.
“And then someone yelled out $500,000 and I thought ‘hallelujah’.”
Seven bids later, the auction hit the reserve at $550,000 — near the bottom end of the home’s $540,000-$590,000 price guide.
It took another 24 offers from a total of four bidders to reach the $570,000 sale price.
“We always hoped it would go to that level,” Ms Cercone said.
But even with a price to be happy about, it was sad to farewell a home that been the nexus of family gatherings for the decade her parents had spent at the home, she said.
“Dad particularly liked being close to the shopping centre and the golf clubs in the area, and mum liked being close to her daughters,” Ms Cercone said.
Both parents were now in aged care together, with the funds from the sale to help them enjoy it to the fullest.
Ray White South Morang director Nick Petrovski handled the auction and said reserve-beating auctions had been back for a few weeks.
“The tide is turning and confidence is coming back,” Mr Petrovski said.
While the suburb had once been considered Melbourne’s fringe, it had almost become regarded as a central hub as the urban boundary expanded in recent years.
Good shopping and schools were also attracting significant numbers of homebuyers to the area, helping drive demand at auctions.
The buyer, a local woman, was re-upsizing, after selling her home down the street in March last year and moving to a townhouse but deciding she needed more space.
She beat two first-home buyers and an investor to the keys.
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