Elizabeth Downs -Hot lead for low cost Mortgagee Sale

How long does the Housing Trust usually keep their properties on the market for? I've seen a couple in Elizabeth North but imo they're 10-15k overpriced. The Housing Trust don't seem to be very flexible in their negotiating.

Edit- Properties are now under contract already. WTF!
 
Last edited:
Can't blame them.
http://www.portplus.com/storage/388...alestate=11_Davoren_Road_DAVOREN_PARK_SA_5113

Renovated property on a large block (958 square metres) for 185k. Considering the median price for stand alone properties in Davoren Park is around 175k you can't go wrong with that place.

You can get reasonable stock in Davoren Park for 150-165k right now, which isn't on a Davoren Rd (semi arterial). But once again, if you're not looking to scrape the yield and equity potential to the max, you could do a lot worse than buy pre-reno'd Affordable Homes stock.
 
I remember going to this inspections a few months back which sold for $386,000

38 Hampton Street South Goodwood SA 5034

http://www.realestate.com.au/property-house-sa-goodwood-116963011

Place was appalling inside, partly why there were so few pictures. The state of the picture which has the green walls was what most of the house was like.

It's now up for rent and has been very nicely made over at $350 per week.

http://www.realestate.com.au/property-unit-sa-goodwood-414266167

Did anyone else check it out when it was for sale or even anyone here buy it? If so, cudo's.
 
Except its in Dav Park? :(

Yeah true.
Dav Park would be my last resort suburb along with Smithfield (tbh not even considering Smithfield or anything beyond).
Personally I'm looking at purchasing near the train line so anything in Elizabeth, which is west of Main North Road. That pretty much leaves Elizabeth South, Elizabeth, and Elizabeth North. Dav Park is also an option.

It doesn't really apply in Adelaide yet but when I was living in Sydney it used to be a huge advantage being situated close to a train station. Both major political parties in Australia are pro-immigration and want to see a big Australia. By 2040 Australia is projected to have close to 40 million people, and it's expected that Adelaide's population will double.
Considering we're fairly landlocked to the East and West that population exodus will be absorbed in the North and South and eventually we'll get infrastructure upgrades to meet the excess capacity.
 
How long does the Housing Trust usually keep their properties on the market for? I've seen a couple in Elizabeth North but imo they're 10-15k overpriced. The Housing Trust don't seem to be very flexible in their negotiating.

Edit- Properties are now under contract already. WTF!
I think it's only been the last 1-2 months where Housing Trust prices have gone up heaps for the areas where are closer to Adelaide. All the bargains are 50+ KM from the CBD now.

Actually I'm fairly pissed about something too with Housing SA. Next door to a double I bought in April has come up at $100k more than what I paid (25% increase for comparison) and it's in worse condition than mine. I knew next door was being prepped for sale, but for $100k over it's not worth it.
 
It would be good if it sells for that much but it's still almost $40k more than the highest sold in the street which weren't even on affordable homes.

im finding agents in the area get quite cocky easily when the market is warming up or is up,

some of the agents today, reckon that a 600sqm in elizabeth, Housing trust in original and pretty shabby condition are worth $180-$200k, with 900sqm ones worth $200k+

Id like to actually see them sell at this price
 
For the record, ive just found a great handyman in the 5113 area,

really reliable and old school
older guy
very affordable unlike most of the younger guys wanting $50+ per hour
top quality work
honest

PM me if you want his details, (only once he finishes my jobs though :)
 
Not doubting that there are heaps out there. As shown by the data was an approx 50/50 split. Which means there are just as many people who are paying >$200k

I wouldn't be looking to pay $200k either, but happy for others to pay that. Helps for the bank val.
 
Back
Top