An original, charming beach shack in Mona Vale escaped the wrecking ball when someone whose parents rented it while he was a child saw it listed for sale and bought it at auction for $4.5 million on Saturday.
asserted
it → escape → Saturday
The three-bedroom cottage at 78 Surfview Road, with bright blue kitchen and sunny verandah, was guided at $4.5 million and drew the interest of another local family and a developer from western Sydney.
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cottage → guide → Sydney
Both were interested in rebuilding on the coastal site.
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Both → rebuild → site
The property was one of 845 scheduled to go to auction in Sydney last week.
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property → schedule → Sydney
By Saturday evening, Domain recorded a preliminary auction clearance rate of 52 per cent from 501 reported results throughout the week, while 154 auctions were withdrawn.
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auctions → record → week
Withdrawn auctions are counted as unsold properties when calculating the clearance rate.
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auctions → withdraw → rate
Three parties registered for the weatherboard home with a level yard, stained-glass windows and dual street access.
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parties → register → yard
The house last traded for $1.55 million in 2007, records show.
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records → trade → 2007
The buyer, who had grown up there, attempted to open the auction at $4.2 million, but his offer was rejected.
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offer → grow → million
He increased his offer but was still rejected.
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He → increase → offer
Neither of the other two parties made a move.
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Neither → make → move
He then offered the guide price of $4.5 million, which officially opened the auction.
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which → offer → auction
The agents negotiated for more before discussing with the vendors, a family of four.
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agents → negotiate → four
While one of the four had hopes of $5 million, their reserve was $4.85 million.
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reserve → have → million
They agreed to adjust their reserve, and it sold under the hammer for $4.5 million.
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it → agree → million
There is no legal requirement for a vendor’s reserve to be in line with their property’s price guide.
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reserve → be → guide
Selling agent Adrian Hybner from Stone Real Estate Pittwater said the buyers “loved the yesteryear charm and carefree living”.
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buyers → sell → charm
Hybner said, “A-grade properties are still getting buyers’ attention.”
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properties → say → attention
He said he could “see smart money surface and secure properties at a heavily reduced rate based on where the top of the market was”.
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top → say → market
The buyer, who declined to give his full name, said he had “huge memories” there.
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he → decline → memories
“The day we left, I was extremely upset as that was my dream home.”
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that → leave → ?
In Bronte, an owner-occupier paid $25.2 million for an oceanfront home they will probably knock down and rebuild.
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they → pay → home
The deceased estate at 522-524 Bronte Road is set on a block of 1028 square metres and attracted four registered bidders, three of whom participated.
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three → set → whom
Bidding began at $18 million and rose at first in increments of $500,000, followed by $100,000.
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Bidding → begin → 100,000
The price guide was $25 million and the reserve had been set at the same level, but the vendors were willing to meet the market and the home was called on the market at $21.5 million.
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home → set → million
In the end, the original price hopes were surpassed.
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hopes → surpass → end
Sydney Sotheby’s International Realty selling agent James Ball said the location was unique.
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location → sell → ?
“You are not going to get many opportunities like that again,” he said.
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he → go → that
He said the market was getting better.
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market → say → ?
“There is a bit of momentum and some good sales,” he said.
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he → be → momentum
But there is a pool of buyers that definitely want to buy before the end of the year.”
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that → be → year
The Aporia
