oc | Monday 24th February

Control or Be Controlled

The 2 G’s! Gina and Geordie at 17a Nevis Street

Is it still plagiarism when you copy your own work.

Please explain the Feb Pep in 2019 2020!

The Feb Pep

Is a positive vibe from increased numbers of refreshed buyers out in the marketplace and it occurs every February. It’s like the first round of the footy season  – the year always starts with some zest – check out the multiple bidder numbers below on the limited auctions we covered today.

2019 Random Results: Sold, Sold, Sold, Passed In, Passed In, Sold

2020 Random Results today (see below): Sold, Sold, Sold, Sold, Sold, Sold

2019 Bidders: 2,3,3,1,0,3 –  Random Bidderman = 2

2020 Bidders: 5,2,2,2,2,3 – Random Bidderman = 2.5

So why does the Feb Pep happen?

There’s been no real public market action for 2 months due to the Summer Holiday break so consequently, a build-up of emotion occurs which provides a stronger, more consistent dynamic in the marketplace (buyer and seller), than what we often see at the end of year or post-Easter in say May – when the market can tire.

So February 2019 2020 has started with a bang? Nope, but it has started positively.

2019 2020 has seen a good start for us and follows on from the last real trading week before Christmas …………

In May 2019 the market started levelling post-election.

September/October 2019 it came back with a vengeance making up the previous 18-month losses in about 6 weeks, give or take.

Question: Mal when do you think we will be at the peak again?

Answer: Please re-read my last paragraph. So unless you’re over $10,000,000 – mate we are there at a peak already!

This week – control or be controlled

Last week’s opening market in a minute(s) – long and short one – click here. Although personally one was enough for me.

 

Andrew McCann at 62b Murray Street . 5 Bidders – sold under the hammer $1,785,000

62b Murray Street Prahran
Auctioneer: Andrew McCann,
Opening Bid: $1,450,000
On the Market: $1,720,000
Under the hammer: $1,785,000
Bidders: 5
Crowd: 80
The auction kicked off with a bid of $1,450,000 follow by no bids and halftime. Upon return, the auction was full swing with 4 other bidders joining the battle, where the house was declared on the market at $1,720,000. Lucky bidder number 3 was successful at the end, where he bought the house for $1,785,000.

ISP that is Agent Quoting – $1,500,000 – $1,600,000

11% over

3 Cambridge Street
Auctioneer: Andrew McCann, Jellis Craig
Opening Bid: $1,400,000
On the Market: $1,600,000
Under the hammer: $1,660,000
Bidders: 2
Crowd: 50
An opening bid of $1,400,000 began the auction of 3 Cambridge Street. After a break, bidder 2 then entered at $1,425,000. The two then battled it out in $5,000 rises and the house was on the market at $1,600,000. Bidder 2 claimed the win where the house was knocked down at $1,660,000.

ISP that is Agent Quoting – $1,400,000 – $1,540,000

7% over

87 Fitzwilliam Street . Geoff Wilson, Little Real Estate. Sold after auction $2,720,000 2 Bidders

87 Fitzwilliam Street Kew
Auctioneer: Geoff Wilson, Little Real Estate
Opening Bid: $2,600,000
Sold after auction: $2,720,000
Bidders: 2
Crowd: 20
‘Can I see an opening at 5 million? … Only kidding’, Geoff Wilson teased those in attendance before opening at $2,600,000. A bidder came in with $5,000 and another chimed in soon after. ‘Is it on the market?’ was asked by Bidder 2 at $2,700,000. It wasn’t. Here it passed into Bidder 1 for negotiations.

ISP that is Agent Quoting – $2,600,000 – $2,800,000

Spot On

3 Oxford Street Camberwell
Auctioneer: Ross Stryker, Jellis Craig
Opening Bid: $1,750,000 VB
On the Market: $1,860,000
Under the hammer: $1,995,500
Bidders: 2
Crowd: 30
A slow bidding duel as two bidders launched an extended battle involving dozens of $500 and $1000 bids. Ross Stryker opened for the vendor, then It took a while to tease the two up to the reserve of $1,860,000 as counter bids had broken down very early. Eventually, the game of cat and mouse came to an end with a round of applause from the small gathering.

ISP that is Agent Quoting – $1,850,000 – $1,980,000

Spot On

50 Chaucer Street St Kilda – Tony Pride, Belle Property. Sold under the hammer $3,710,000. 3 Bidders

 50 Chaucer Street St Kilda
Auctioneer: Tony Pride, Belle Property
Opening Bid: $3,000,000
On the Market: $3,200,000
Under the hammer: $3,710,000
Bidders: 3
Crowd: 40
Tony Pride was not made to wait long for an opening bid with Bidder 1 quick off the mark and follow by a second bidder.  As the price neared $3,500,000, bidder 2 hesitated and Mr Pride began to count down the sale when a third bidder politely excused himself and joined the bidding. Bidder 2 was now out. At $3,700,000 bidder 3 hesitated and then placed a final $10,000 bid. Bidder 1, stepped forward and congratulated bidder 3 bowing out of the Auction.

ISP that is Agent Quoting – $2,700,000 – $2,900,000

21% over

61 Comer Street Brighton East
Auctioneer: Nick Johnstone, Nick Johnstone Real Estate
Opening Bid: $2,250,000 VB
Sold after auction: $ undisc
Bidders: 2
Crowd: 50
Nick Johnstone made it clear that there would be no referrals during the auction and encouraged the crowd to get things underway. With no bids forthcoming, a vendor bid of $2,250,000  was placed. After some time, Bidder 1 offered $10,000. This was soon matched by a second bidder and, after our slow start, we were off. At $2,315,000 the property was passed into Bidder 2. The home was then sold after

ISP that is Agent Quoting – $2,100,000 – $2,300,000

Unknown

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