A “lucky dip” home overflowing with trash and potential treasure has sold at auction almost $113,000 above reserve.
The three-bedroom home at 22 Cawarra Cres, Paralowie attracted 23 registered bidders and sold under the hammer for $605,500 – just $14,500 below the suburb median.
Situated on a generous 667sqm block, the property was described as an investor’s dream – but one that needed a “good declutter and lots of love”.
Selling agent Justin Irving of Ray White Salisbury said that the winning bidder was a local investor, who will likely demolish and potentially subdivide.
“The seller has gone to respite care; she owned the home, and her son has lived there and it has become a bit of a hoarder house,” he said.
“We sell these homes ‘as is’ due to the condition.
“It was only a 10-day campaign with four open homes. We had about 70 people through the home, and of those, a huge 23 registered to bid.”
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22 Cawarra Cres, Paralowie may be a hoarder’s home but that didn’t deter buyers.
The home was sold as is and will require a good clean up.
The home was sold to help fund the owner’s respite care.
The 70s-built residence is the fourth hoarder home to go under the hammer in Paralowie over the past six months, raising the question whether the northern suburb could be declared Adelaide’s unofficial hoarder hotspot.
In September this year, 8 Henry St, Paralowie left plenty to the imagination with rubbish and personal belongings strewn everywhere.
But for 40 registered bidders, the renovator’s delight offered plenty of potential with strong buyer interest pushing the final auction sale price $192,000 above reserve.
Marketed as a deceased estate that required a “good declutter and lots of love”, the home sold under the hammer for $685,000 – $89,5000 above the suburb median.
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8 Henry Street, Paralowie also sold earlier this year as a hoarder’s home.
43 Tarqui Drive, Paralowie was in such a bad condition that no internal shots were included in its ad on realestate.com.au.
It was a similar situation for 1 Columbia Street, Paralowie – which also needed a good clean up after its sale.
A six-bedroom hoarder home at 1 Columbia St also attracted plenty of buyer interest when it sold in June, this year.
The renovator’s delight sold for $720,000 with buyers advised that the property would need a good declutter and lots of love upon sale.
A three-bedroom hoarder home also sold at 43 Tarqui Drive in April, this year.
Property records show the residence sold for $400,000, and again in September for $657,500, after undergoing a major clean up and renovation.
Mr Irving, who sold all four properties, said the reason for each residence being presented as a hoarder home varied, but poor health and age were common denominators.
“We’ve had a few doozies over the last six or so months … but every home had its own story,” he said.
“The one that sold over the weekend (22 Cawarra Cres), the mother owned the home but moved out about a year ago … and it got to a point where she had to go into respite, so the family were in a bit of an urgency to sell the home.
“It was a bit of a hoarder home … and the neighbours ended up helping out and removed about eight skip bins of belongings out of the house, so it didn’t look as bad as the photos showed it.”
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In the case of 8 Henry St, Mr Irving said the home was a deceased estate with the executor located in Germany and unable to clean up the home prior to sale.
He said the owners of Columbia St and Tarqui Dr, meanwhile, had a number of health concerns, rendering them unable to keep their homes clutter and rubbish free.
While all hoarder homes require plenty of elbow grease, Mr Irving said they also offered an affordable entry point into the property market.
“We obviously get a lot of people interested in doing the work but we also get people who are on a budget and just want to get into the market,” he said.
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