loobs... realistic prices part 2, page-7

@ Geezer

i wouldn't stress too much if it sells at that price either. Opportunities in this market will arise that are to your liking.

If it was me and i really wanted it i still wouldn't pay more than $540,000 (a 15% discount to asking price).

If it's any of these (even if it's not it's a good comparison:

85 Collins:

http://perthnow.realestate.com.au/cgi-bin/rsearch?a=o&id=107370316&f=0&p=30&t=res&ty=&fmt=&header=&cc=&c=98070993&s=wa&snf=ras&tm=1306722492&cu=PER

24 Pallas:

http://perthnow.realestate.com.au/cgi-bin/rsearch?a=o&id=107365133&f=0&p=30&t=res&ty=&fmt=&header=&cc=&c=98070993&s=wa&snf=ras&tm=1306722492&cu=PER


- 85 Collins asking price = 639K. The last sale was in 1990 for $50,000. The owners expectations could be brought down if they realise their expectations are too high.


- 24 Pallas asking = 625-635. Last sale date also 1990. It sold for $135,000.


This type of info is more useful if the sale price is recent i.e. within 3-6 years as it can inform you as to how the seller is thinking/thier mentality and whether you think they will budge if you play hardball.

Anyway don;t get too discouraged. You aren't going to miss out. Tell your wife if house price growth outstrips wages by the same amount it did from 2001-2010 we would have a median price of over a million and an average wage of about 93K by 2020, so the average price would be a multiple of well over 10. I think she will realise that scenario isn;t very realistic.