Register your interest via email admin@pulseps.com.au

Please contact Pulse for details of the remaining units admin@pulseps.com.au

Progress so far:

We are now on the look out for another exciting project in the Pilbara, please contact us if you know of any. 

Some photo’s of the stylish townhouses below:

This 4×2 spacious home features:
241m2 under the main roof
Great outdoor entertaining backyard
Dedicated area to watch the ocean from the frontyard
Home theatre
Large master with his & her WIR’s
Ducted air conditioning
Fully landscaped and reticulation
Window coverings
Colourbond roofing

These homes are located in a prime elevated position over looking Yaluma Park near Innaloo Sportsman Club.  Close to Innaloo and Karrinyup shops, cafes, Scarborough Beach and transport.  Ideal for first home buyers, downsizers and investors.

Pulse is extremely pleased this project is tracking on time and on budget, below are photos of the development:

Features:
4 large Bedrooms
Main bedroom with ensuite and walk-in robe
Upstairs Balcony with Ocean Views
Spacious Linen Closet
2 Toilets upstairs
Powder room downstairs
Modern Kitchen quality stone benchtops
Large open-plan Living and Dining area
Undercover Alfresco
Double Carport and covered Entry
Secure Lock-up Storage Room
Separate Laundry and discreet Clothes Line
Complete with all turn key items including air conditioning, window treatments, landscaping and…show more retic
Built by the highly regarded CWD
212.5m2 Total Building Area
95 m2 Upstairs Area
117.5 m2 Ground Floor Area

These homes will provide ideal Executive level family sized accommodation and will be highly sought after. They are a Rock-Solid Investment in one of the best areas in Port Hedland.  Currently available to purchase at $1,390,000 each, estimated rent of $2,950 per week providing an 11% return!

“Employing Pulse to manage the subdivision approval of my property was a good move, I had peace of mind knowing they were handling everything, especially given I live on the other side of the country,” David said.

The process was managed in a timely manner, both David and Pulse are very pleased with the results.

Pulse hopes to work with David on the next stage on the subdivision process so that titles can be issued and construction begin.

This beautiful home features an open plan design, large alfresco  and landscaped backyard, quality fixtures & fittings, tiled throughout, air conditioning & ceiling fans.  Located in a brand new estate, surrounded by quality display homes, a highly sort after address. 

However, Catherine Cashmore of JPP Buyer Advocates says the result is actually no surprise and believes taking the properties to auction was actually a mistake. This is because agents know they can get more money in the current market if a property passes in at auction.

“When you go to an auction, eight or nine times out of 10 it’s passed in, then it goes through to negotiation,” she says.

“A lot of homes don’t sell under the hammer but they still sell. I think it would have been more educational for the audience to see what happens in a passed-in negotiation, because all the action happens behind closed doors.

“When an agent is aware the buyer has more money, quite often the agent knows they can get an extra $10,000 or $20,000 through negotiation, because they negotiate every week. If the reserves hadn’t been disclosed, it wouldn’t have been hard for those agents to negotiate and get over the reserve.”

It’s also no secret that the Melbourne market has been flat for “15 weeks”, according to Cashmore.

In the new market, buyers lack confidence when it comes to auctions, so that’s also holding people back.

“Bidding in such a public place would be extremely intimidating and the confidence at the moment is dead flat low. If nobody bids, it’s a psychological game. There are few that are willing to openly bid and when they do, their head is well under the reserve price. It means the agent has a lot of work to do, but if he takes them inside, he has a better chance of getting a higher price.”

However, Monique Wakelin of Wakelin Property Advisory disagrees that negotiation would have been better for the vendor.

“The market never lies when it’s an auction,” she says.

“It’s extremely transparent and you wouldn’t have sold them by private sale. When it’s in demand (the suburb) you need to create open competition to make people make a decision. An auction tells you what something is worth without a shadow of a doubt.”

Unfortunately, Wakelin says the particular part of Richmond where the houses were was all wrong.

“It’s a question of underlying demand and getting the match right between where you buy, how much you spend and what you spend it on, relative to what the market will bear in a particular part of a suburb,” she says.

“The prime part of Richmond goes like an absolute rocket but this was a case of the less desirable part of Richmond. There was a mismatch between the quality of that part of Richmond, the level of renovation and the relatively high reserve.”

Cashmore adds she was surprised that arguably the worst house was the one that ended up selling. Like Wakelin, Cashmore actually took a few of her own clients through each property, but they all ended up getting cold feet. The main reason was because those who viewed the properties wanted to start a family, but didn’t like the fact that the main bedrooms were upstairs and separate from the smaller rooms.

“They were across the road from a carpark and in the shadow of a Housing Commission flat,” Cashmore says.

“There was no off-street parking and it wasn’t a good area for Richmond. Most families want off-street parking so this means the buyer demographic is going to be small.”

Cashmore also warns just because something is renovated doesn’t mean it will sell.

“A lot of buyers like to put their own stamp on a home. It’s very rare that a buyer doesn’t want to change something.”

Michael Yardney of Metropole Property Investment Strategies agrees that the reserve prices were too high, and says the problem is that Channel Nine paid $900,000 for each home to begin with.

“The reserve they chose was related to what the end values would be and it definitely never made sense,” he says.

“They paid the wrong price to start with. They didn’t budget correctly. They did them up emotionally, not to what the marketplace wants or needs and they tried a strategy, which doesn’t work, which is to buy, renovate and sell. When you take all the costs into account, it just didn’t stack up.”

Yardney also claims the television show would have been better off renovating something in a lower price range, from $400,000 to $500,000.

“It would have been a much bigger market,” he says. 

Results:

37 Cameron Street, Richmond
Josh Densten and Jenna Whitehead
Vendor bid: $900,000
First bid from floor: $750,000
Final bid: $901,000
Reserve: $950,000
Result: Passed in

39 Cameron Street, Richmond
Polly Porter and Waz Jones
Vendor bid: $750,000
First bid from floor: $650,000
Final bid: $855,000
Reserve: $840,000
Result: Sold

41 Cameron Street, Richmond
Katrina Chambers and Amie Godde
First bid: $750,000
Final bid: $822,000
Reserve: $860,000
Result: Passed in (but later sold for $860,000)

43 Cameron Street, Richmond
Tania and Rod Walsh
First bid: $750,000
Final bid: $832,000
Reserve: $850,000
Result: Passed in

Posted by API on Monday, August 22 2011 at 6:11 AM