Cragie, WA mortgagee home sold for $150,000 loss

Cragie, WA mortgagee home sold for $150,000 loss
Staff reporterDecember 7, 2020

A Craigie, West Australia mortgagee home has sold for $407,000.

The house last sold for $555,000 in 2014, meaning this latest sale marks a $148,000 reduction in value

Ian Masterson of Realmark marketed the home.

Situated at 26 Mandalay Place, the home sold via auction after an unsuccessful marketing campaign that ran from February 2018 to January 2019.

The vendors sought $539,000 originally, which was reduced to $489,000 by the end of the campaign.

Set on 702 sqm, the house was built in 1975.

The four bedroom, two bathroom abode sold for $393,000 in 2007, only slightly less than this latest sale.

It has the capacity to be subdivided due to being in the R40 re zoning area if you choose to develop the property, subject to WAPC approvals, according to the listing.

Cragie, WA mortgagee home sold for $150,000 loss

The median sale price for a home in Craigie, WA is $420,000, according to the latest CoreLogic data.

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