Saturday, 2 July 2011

First auction attended

I went looking at properties today, and attended my very first auction.  It was for a 3BR townhouse in Yagoona, which was full brick and newly carpeted.  There was a low maintenance courtyard and it was 2 levels, all 3 BR had BIR, and there were 3 toilets and 2 bathrooms.  There were probably about 20 people attending the auction with only 3 or 4 active bidders.

The final price was well below what I thought it was going to be.  I thought it would be closer to 450k but it closed at 415k.  I noticed that there were a lot of middle eastern and asian bidders.  And they really do drag out the drama!  I wonder if the owners will be happy with that price or will that just put it on the market.

Went looking around at other properties in the area, just to get a feel for what the market is like.  I am not sure if people are out there buying or not but it seems to be a lot less busy than other times I've been around.

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