12 Thomas Street, Maroochydore
Sold under the hammer for $760,000 on 4 May 2021
Heavy rain didn’t dampen the spirits of the large crowd that gathered in the front yard of 12 Thomas Street, Maroochy Waters when it went to auction earlier this month.
Selling under the hammer for $760,000 on the 4th of May, the three-bedroom home attracted a huge amount of interest from a wide range of interested buyers, from local and interstate investors to local families keen to get into the market.
“From the day the property went live we had a very interesting group of buyers. We had builders who were going to demolish the home and build townhouses, we had families who desperately wanted to get into the area and renovate, and investors people who could see the benefits of investing in the area,” says Ray White Maroochydore agent, Natalie Tink.
“People are discovering Maroochy Waters as a really good area to live in. They can see the value in buying there and spending money on their properties. The area is growing year on year because it’s right next to the river, it’s close to everything and the blocks are bigger. The whole area is becoming very desirable.”
The vendors had their property tenanted through Ray White Maroochydore for a number of years and decided to test the waters a second time, given the buoyancy of the current real estate market.
They went to market a couple of years ago and were looking to list it in the $400,000’s. Although they had interest, they were unsuccessful with the sale, so they decided to take it off the market and keep it as an investment,” says Natalie.
“Because of the high demand for property at the moment, they really wanted to put it out there and see what happened this time. They loved having it as an investment property, but there were other things they wanted to do so they thought, lets put our toe in the market and see what happens. Had it not sold, they would have quite happily held as an investment.”
Despite the pouring rain, bidders fought it out to the end on the day of auction, with the home eventually selling to a buyer from the ACT. His brother bid on his behalf, having recently bought a home himself in the highly sought-after area.
“This buyer had strong interest from day one,” says Natalie. “In fact, he was the first person to place an early offer on the property.”
Despite receiving three offers prior to the auction date, the owners decided to take the property to auction and the end result was well worth the wait, achieving a higher sale price than they had anticipated.
For those who missed out on Thomas Street, Natalie says it’s important to do your homework before attending an auction.
“There were a lot of disappointed buyers who missed out on the property. We had a lot of people come to us after the auction who were hoping it wouldn’t sell at auction, so they could sort out their finances.
“However, in this highly competitive market, you really need to put your best foot forward. I would recommend finding out what you can afford, have your finance ready so you are only walking through homes that are within reach so that when auction day comes around you can bid with confidence.”
Wise words indeed.
Written by Ingrid Nelson