I once saw this picture on the wall of a real estate agent on the Atherton Tableland with whom I became friends. He sold his last house many years ago and didn't live long enough to witness the huge recent price explosion which has made old men of all of us.
The inquiries to my own pre-Deceased Estate Sale are trickling in, but most are from people who fail to make the connection between the advertised land valuation and the likely selling price, as I don't hear from them again when they learn that the price is around $3.5-million.
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"As for the price, most residential properties sell at a price ratio of 75% for the house and 25% for the land; "Riverbend" has an inverse ratio of 25% for the house and 75% for the land (1 July 2022 Valuer-General's Land Valuation of the LAND ONLY was $2,637,000) because, as you know what they say about land, "They don't make any more!", and "Riverbend" sits on a unique seven-acre parcel of residential absolute waterfront land, totally private, totally secluded, and yet on the edge of suburbia and only 8 km from the bustling coastal resort town of Batemans Bay." Click here for the advertisement
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There've been ten inquiries so far: One was from a very interested and seemingly cashed-up prospect within fifty kilometres of Nelligen with whom I had a lengthy telephone conversation; another was from a lady in Canberra who followed things up with an email suggesting that the advertisement worked for her but that the price was somewhat outside her range; a third one asked about the Council rates which is not the sort of thing to be worried about with a three-million-dollar property.
My reply is always the same:
It may not win me any buyers but I may win a literary award! Anyway, there's no rush. Something may come of it, or nothing may come of it. As I keep reminding myself, "It Only Takes One Buyer!"
Someone even wrote a book about it!
P.S. An old friend from my New Guinea days who honed his selling skills in the 1970s when he sold the infamous "bottom of the harbour" tax schemes, wrote, "You need a catchy opening rather than needing someone with a Phd to understand the intricacies of land / building values. How about something like WANT TO BECOME A THIEF? BUY THIS PROPERTY FOR $3.5M AND YOU WILL HAVE STOLEN IT. Just a thought generated by a boring Sunday afternoon." Just a thought indeed!
