Bargain property in Carool? Listing slashed $300,000 and unsold for nine years

Bargain property in Carool? Listing slashed $300,000 and unsold for nine years
Bargain property in Carool? Listing slashed $300,000 and unsold for nine years

There are certainly opportunities in the current 2019 market to pay less than the last price.

But is there really such a thing as buying a bargain when it comes to property? And where are they?

This series of articles looks are specific examples of sale price or asking price falling. 

We take a look at where and if possible why this is happening.  

We came across this property for consideration.

A Carool house remains unable to find a buyer, despite nine years on the market and slashing the listing price.

The four bedroom, two bathroom house is currently listed for $1.995,000, a reduction of $300,000 on it's original 2010 asking price of $2.3 million.

Paul Heydon of North Estate Agents currently holds the listing.

Situated at 143 Blissetts Road, the home has only ever seen one reduction in the asking price, a straight $300,000 cut in February 2013.

Set on 12.5 hectares, the property holds numerous ocean and mountain range views including Surfers Paradise & beyond.

Featuring verandahs on all sides, it is only 20 minutes drive to The hub of Tweed Heads/ Coolangatta and International airport

The holding is host to a 3 kilowatt solar power system as well as a cattle grid and holding yards.

Bargain property in Carool? Listing slashed 0,000 and unsold for nine years

Property Observer advise that it is up to you to determine if the offering is a truly beneficial bargain.

Remember buying at the bottom of the cycle is fraught – as you can't really precisely pick the bottom nor know just how long until you see some price growth.

Be aware you could be buying a poor quality property in an area with ongoing issues of oversupply of stock.

The oversupply could be also putting downward pressure on rents.

Other price declines could be because the vendor needs a quick sale or paid way over the top on its last purchase chase.

Property Observer suggests property purchasing really does need to be a very well considered proposition with a long term mindset.

As a part of this series, we've already had a look at properties in Mount ElizaCentral GeelongEast Perth and Sydney Olympic Park.

Tags: 
Carool Bargain Property

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