Property Auction

crazyhorse88

It will be interesting to see how this goes;

www.osborneking.com/auction.asp

ballyblack

Some of them have got too high a reserve for this market!

saverbuyer

crazyhorse88 wrote: »

It will be interesting to see how this goes;

www.osborneking.com/auction.asp

The majority of it is commercial. What residential there is looks crap. Stuff that’s been sitting on the market rotting.

Nothing to see here. If a few foolish people want to waste some money. Fire away I say.

crazyhorse88

I'd be very surprised if the majority of the lots aren't sold. Probably aimed at cash buyers but I think it will give a good benchmark as to where to property market really is.

saverbuyer

crazyhorse88 wrote: »

I'd be very surprised if the majority of the lots aren't sold. Probably aimed at cash buyers but I think it will give a good benchmark as to where to property market really is.

Maybe where the crap commercial end of the market is but it wont show us anything about the resi. There only are a few houses 12 I think and they are mostly in Dundonald.

The only thing it will do is lower people expectations. (which is a really good thing)

A.L.D.A

crazyhorse88 wrote: »

I'd be very surprised if the majority of the lots aren't sold. Probably aimed at cash buyers but I think it will give a good benchmark as to where to property market really is.

I agree, it will be cash buyers. Cash is king at the minute and the the sales are likely to be heavily discounted. It will be interesting to see just how much bidding there actually is. To my eyes the reserve values are all over the place.

There are some good sites in that if you actually take the time to read and weigh them up. Lot 10 is an interesting one!!! (I have absolutely no personal interest) I had a look at this site some time ago. Client bought a different site. There are some problems regarding newts, gas vents and it is a long run to the sewer. etc, but it could make a very interesting site if you can make it work. It is well worth a visit if you are in the area. Seriously, just drive in and park your car and have a look. Use your imagination and you will see what I mean!

The way to make money in development is to buy cheap (you never recoup from paying too much) and seeing potential where others do not.