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Today's quote:

Saturday, April 2, 2022

Back to square one

Tonight it's all back to square one



Daylight saving ends tonight. As a wise old Indian once said: "Only a white man would believe that you could cut a foot off the top of a blanket and sew it to the bottom of a blanket and have a longer blanket." Back to square one.

And it's also back to square one at 183 Annetts Parade, Mossy Point which was passed in at auction today on a vendor bid of $3,800,000. (Despite having been passed in at auction, it is now advertised with a price guide of $4.1 to $4.4 million!)

What could have made the auctioneers to set such unrealistically high reserve? Of, if it was a case of vendor's greed that set the price, shouldn't they have talked him down to a more realistic level?

While the guesstimate by www.realestateview.com.au of $1,600,000 to $1,800,000 was low, '2' instead of '1' in front should've found a buyer.



As I had blogged here, the property only sold eighteen months ago for $1,200,000. Expecting a threefold price increase in just eighteen short months was always going to be a stretch, even in these mad times.

What will the price be when it relists for sale under private treaty?

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