Property News

The Story Behind The Sale: 16 Cloverset Ave Narre Warren

This 44 year old family home was sold by its original owners, who wanted to downsize.

On a 655 m² block this immaculately maintained single level house has 4 bedrooms, 2 bathrooms, air-conditioning, and a renovated kitchen and double lock up garage.

Narre Warren is becoming something of a real estate a hotspot and properties close to Westfield are particularly popular with investors. And that’s the story of this sale.

The property: 16 Cloverset Ave, Narre Warren

Asking Price: $640,000 – $675,000

Sold Price: $668,000

Date Sold: 26/11/2017

Days on market: 17

Number of open homes: 3

Buyers through: 25

Gavin Coyne, from Grants Estate Agents says:

Jane and John were the original owners of this 44-year-old home and they contacted us to sell it for them because they felt it was time for them to downsize.

In our originally appraisal we mentioned their property had great appeal to investors as it is within walking distance to Westfield Fountain Gate, and many buyers for these types of properties have recently been investors.

After the first two weeks the main feedback from buyers was that it was worth $650,000. Jane and John were keen to sell, and happy to accept that amount and move on, but we urged them to stay patient, and have the third open home, as we felt it was worth more.

Sure enough, our buyer turned up that week, and as predicted he was an astute young investor looking for a well maintained home close to Westfield. He had been considering other properties, so we moved fast to present the offer of $668,000 to the John and Jane. They accepted and we were able to sign up his offer quickly and easily on the Sunday.

Jane and John had told us they were hoping to walk away with $650,000 in their hand, but in the end we got them closer to $655,000, after costs. We were extremely happy with the result, given it was at the top of the asking price range.

John and Jane, the vendors, say:

We’re downsizing, and move into our new home in August, so we were in no rush to sell but thought we would test the waters before Christmas.

We interviewed three agents, and chose Gavin Coyne because we felt we could trust him. He was upfront with everything and came across as a person who was easy to deal with.

Having to sell the family home is stressful. Gavin was very helpful – he advised us on what was necessary and what wasn’t and kept us informed. He spoke to us before and after opens, told us who was there and what we could expect each step of the way.

We’ve kept the house spotless and done a lot of maintenance on it over the years. It’s a 40-year-old house on the outside but completely modern on the inside. We bent over backwards to make sure the place was like we’d want to see it for each open home. We probably put more pressure on ourselves than we needed to.

We had a couple of early offers, but Gavin suggested we wait, and that other bids would come. We waited 2 and a half weeks and when that buyer came he told us straight away. They had been at the home for the entire inspection period and he picked that they were the most interested buyer.

It surprised us that most of the homes selling in this area are going to investors. We always envisaged it was a perfect first home for a young family. It’s a win for the investor as it’s a well-maintained home with great rental potential, and nothing needs to be done to it. We’ll miss it and all the family memories.