90 Elizabeth St, Geelong West, sold for $910,000.
Sprucing up a property and making a late adjustment to the price guide ensured competitive bidding for a four-bedroom residence in Geelong West.
The 450sq m property at 90 Elizabeth St sold under the hammer for $910,000 after two bidders contested Saturday’s auction.
The timber character home which had until recently been a rental property, was offered for sale with price hopes from $850,000 to $930,000.
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Jellis Craig Geelong agent Elise Carey said the home was positively received after it was spruced up prior to hitting the market.
“Most were looking to get something to renovate but live in while they did it and then eventually rent it out – so house flippers, investors and owner-occupiers,” Ms Carey said.
“Overall it looked really well presented for market – it had new carpet, fresh paint, staging, the garden was landscape. It was the corner of Mowat St as well, so there was side access to the garage for off-street parking and the block had a four in it well,” she added.
Character features were enhanced as the home was prepared for sale.
Ms Carey said there was plenty of local interest from people wanting to upsize or downsize in a suburb they were familiar with.
Ms Carey said character features drew interest in the home, which last sold for $470,000 in 2010, and has been on the rental market since.
“I think everyone likes the fact there was character in the house and it didn’t feel too perfect,” she said.
“It has a mix of parquetry flooring at the entry and then solid timber floorboards throughout and changed to another type of flooring at the rear, so it’s quite unique. But it all worked and there was really positive comments about the presentation.”
French doors connect the living area to the backyard.
Ms Carey said the vendors had invested to improve the property before going to market.
“It was tenanted before going to the market and I confidently encouraged the vendors to invest to get it looking ready for market,” she said.
“They put a fair bit of money into it prepping it and I’m now really happy that it was an investment that I confidently put forward and it returned on.
“I had even people coming in that were locals saying they really loved the way that you’ve got this looking and they’ve asked my opinion on how to get theirs ready for market as well.
The kitchen features stainless steel appliances.
“It’s an uncertain time in the market and I think if you can chat to an agent that does work with trades and is connected to that to get homes ready for the market, it’s probably useful to maximise the return when you go to a market that’s a little bit tough right now.”
A price shift down from the original $880,000 to $960,000 guide helped the campaign. she said.
“You’ve got to be strategic and proactive in this market and read the signs. I did price-shift on the property a week out from the auction and if I didn’t do that, I wouldn’t have had that second bidder.”
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