Knox auction vendors lower expectations in changed market

Knox auction vendors lower expectations in changed market nmprofetimg 1523
2 Pennell Court, Rowville  Knox auction vendors lower expectations in changed market capi ecb547e4469fcd7f522eb51844e0078b cb9446400ed52d4c8ad15103d27eedc9

2 Pennell Court, Rowville has an attractive design and inviting poolside zone.

An auction vendor was quick to revise their price expectations to sell their Rowville home below the reserve in a fast-changing market.,

While 2 Pennell Court fetched $20,000 below the reserve when it sold for $970,000 this was still above the $880,000-$960,000 price guide.

“The vendor had set a high reserve of $990,000 and under these conditions was happy to take $970,000,” Schroeder & Wallis director Billy Schroeder said.

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2 Pennell Court, Rowville  Knox auction vendors lower expectations in changed market capi ecb547e4469fcd7f522eb51844e0078b 3539112812897fa3945a0b166715a7f1

The high ceilings and exposed timber beams at 2 Pennell Court, Rowville.

“Vendors are being realistic now and will accept reasonable offers, especially those who are having to sell and buy in the same market.”

Four potential buyers turned up, with two families making bids for the well-renovated and presented four-bedroom house on 735sq m.

“The buyers are upgrading from Noble Park and were attracted to the house because of its quality and quite different design,” Mr Schroeder said.

2 Pennell Court, Rowville  Knox auction vendors lower expectations in changed market capi ecb547e4469fcd7f522eb51844e0078b 932905bf99c83012fb9827d4741d4b1e

The “quite different design” appealed to the buyers.

The double-storey home features charming exposed timber and brickwork details and a solar- heated poolside area.

The vendor paid $705,613 for the home in December 2014, making it a price gain of $264,387.

“They have done well from the house, which they renovated,” Mr Schroeder said.

14 Christie Street Knoxfield  Knox auction vendors lower expectations in changed market capi ecb547e4469fcd7f522eb51844e0078b bcc7322d9561f2d8c9c5a0b75afaea90

14 Christie St, Knoxfield offers five bedrooms on a generous block.

14 Christie Street Knoxfield  Knox auction vendors lower expectations in changed market capi ecb547e4469fcd7f522eb51844e0078b 55f9062ef17e737addaaa51c0b93aedb

The spacious living and dining area.

In Knoxfield, a vendor accepted a post-auction offer below their reserve price for 14 Christie St.

The property had passed in as it fell short of the $1.1 million reserve on March 7. But the vendor recently accepted an offer of $1,067,500.

The five-bedroom house was well-presented and has balcony views over Carrington Park.

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