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KareelaRd

1 Review0 Questions4 Answers

Reviews

Frankston

"Watch this town boom again"

just read the title..

in 10 years price will be pushing $1 million

the amount of money being spent is enormous! it will help push what was called "scum" out and a new generation in..

i bought a 2 bedroom house (wb) on 600sqm for $260,000 about 9 months ago. Central Frankston, 20 minutes walk to beach, 2 minutes to the local (rsl and shops lol) Now whos laughing...

remember guys, St Kilda many years ago was considered scum too...

Who lives here?

  • Professionals
  • Singles
  • Families with kids
  • Retirees
1
laney
laney

I hope your right :)

Saray

Adam, I think you have a bee in your bonnet about a comment a previous reviewer made and have let that taint your judgement. By your own admission you are not familiar with the Mornington Peninsula and I am guessing you are also not aware of the infrastructure plans and community investment from both the local council and state government for Frankston.

KareelaRd makes some very good points (in fact, many houses are already selling for over $1million in certain area and they're not off the mark at all) and all industry research as well as common sense points to Frankston as a boom suburb that has already begun its ascent. The doubling every 10 years is based on recent history and holds true for that. but KareelaRd didn't even claim that so I don't know why you brought it up. They are also referring to capital growth, not the 'value' of it now (as per your comment re Mt Eliza).

I understand you were probably offended by the other reviewer - he was a bit out of line and aggressive towards you - but don't take that out on an entire suburb, especially one you are not qualified to comment on. It's unprofessional and also a bit irresponsible to be honest, especially as you're posting here as a real estate agent.

And I'm going to give you the benefit of the doubt and assume this was a typo but fyi it's median price, not mediam.

Poss

A very wordy attack there Adam - maybe, if you are such an expert, you should learn how to to spell "Peninsula"!

Oh, and in your previous post, I think you meant that the "government threw money" not "through".

from a former resident of Frankston.

KareelaRd

Adam, you lonely poor little boy.. I feel sorry that such an experienced estate agent like yourself has the time to be commenting negatively on a certain suburb. It's funny with all you 'switched on' agents. You don't have time for a call back when something wrong with my rental, and are slow to catch on too things but have time to be on a forum criticizing Frankston.

Now clever boy, my father bought a property for $90,000 in Frankston 20 years ago. That property is now worth in excess of $700000. That's five zero's mate.

And that $260000 property I bought, has had an offer of $333000 3 months later. Prices are moving prettyquick mate

Don't miss the boat

linela49
linela49

Well well Adam you need to be sure that your facts are correct before making statements as follows:

"Next you mention the doubling of prices in “Recent History” and that this “Holds True” , this is utter nonsense, property DOES NOT ever double in value every 10 years, I am a real estate agent and I buy and sell property on behalf of other people every day of the week I am personally involved in hundreds of transactions every year It NEVER doubles in value every 10 years. This is a broad generalization the media have continued to portray and “brainwash” the population to believe i can tell you i personally have NEVER witnessed one such case"

During 1998 I listed my property with a local agent [I still have the sale papers] due to ill health, and the thought of moving closer to my family in Brighton and Carnegie! The property was listed for sale at $81000.00 and I signed them with the Agent. 3 days later, during the cooling off period I cancelled the sale! In 2008 I had my properly valued by a certified valuer and have a copy of that paper also, value as $289000.00 for resale.

Your statements about Frankston are inaccurate and misleading. The market value of my property today is around $329000.00. [From a real estate valuer in April this year]

Please check your facts before making such blatant generalisations about a suburb

Thank You

timclarkau
timclarkau

Dear Adam,

I respect your point, thank you for making it.

However Adam, I wish you saw Tuesday's Herald Sun.

Frankston and other 'Tollway/Freeway Hot Spots" such as Berwick, Dromana, Narre Warren, and a few Western suburbs have had over 20% growth in 2 years. Inner suburbs, 5% growth over the same period.

Today on ABC News24, house prices in the 300k to 600k price range are expected to 'Boom' while high end property's are to fall over the next 12 to 18 months.

Adam, it may seem like the whole world is against you, and thats probally because, well... They are.

But who are we to comment on a Local suburb. I mean, it is us who have seen the prices rise, new freeways, new foreshore, new shops, renovated schools. It is us who have seen the sale of the majority of old public housing to developers, who in turn build 2 town houses on each block.

I guess it is also us who have seen the vast majority of the bogans leave, move onto finer places such as Cranbourne. :)

But I do admit Adam, you have told us how your Sydneys brightest Real Estate Agent. So I better take your word on Frankston.

I know you have no local knowledge, and live 919.2km away (Your Office to Frankston) but I guess you are right... Arn't you?

I think I'll sell my place in Frankston, since your telling me its a bad investment. I know I only brought it 2 months ago and it a shame to sell already, But its only gone up $26k in that time... From sale price to estimated price from the banks "Independent Registed Valuer"... Hmmm

He said probally $33k, but $26k was a safe bet. But if you think I should sell, I will...

Hang on... $26k... Hmmm maybe I'll hold!

Adam, jealousy is a curse. Be happy buddy, life is to short to be negative your whole life.

Go out and do something productive, make a sale, find a listing, do anything related to work. Enjoy your day! Must be better than sitting on a Forum.

However, I must say I don't doubt you.

Oh Kareela Rd is right, don't miss the boat!

Regards,

Your Best Mate

Saray

Adam, you are a real estate agent, not an economic nor a property forecaster. All due respect but you are not even close to the kind of professional I would seek advice from. I myself have written investment documents for multibillion dollar residential developments and still do not consider myself an expert. My contacts within the industry are some of the most highly regarded in Australia and my own family have invested millions throughout the country and have been involved in buying and selling property for decades. All of my advice (and I have sought alot and researched many areas in Victoria and Qld) points to Frankston as being an excellent investment with above average capital growth projections.

I appreciate you are trying to give advice however you are simply not giving good advice based on any sound research. Just be careful when you position yourself as an 'expert' that you are actually qualified as one (and while you may be brilliant at your job it is essentially a sales role with very few qualifications required). You are of course welcome to your opinion, I just don't think it's based on anything other than extremely casual observations.

Saray

Oh, and my information does not come from the media, it come from industry resources such as RP data and the REIV.

timclarkau
timclarkau

Well said Saray!

AdamS
AdamS

Guys, please stick to the issues. NO PERSONAL ATTACKS.

This is a great debate about Frankston and the merit's of the suburb. Please stick to that.

AJ

laney
laney

Hey steady on there, no need to generalise about the residents of Frankston.
This thread has been an interesting read and kept me mildy amused over the weeks, don't spoil it now.

linela49
linela49

Adam

I take exception to your comment that "Saray is the only person with a spec of [common decency]"

Your statements regarding Frankston are insulting and inflammatory. I understand that you are giving us the benefit of your 15 years of "expert knowledge" but there are better ways to express yourself than dismissing what others [and in this case residents of Frankston] have experienced and observed over the past 20 years.

You dismissed my comments in a very disparaging manner in your reply.

The facts as I presented them to you regarding the sale of my property in 1998 and the valuation of my property in 2008 [by a LICENSED real estate valuer] and his report supported my view that my property has MORE THAN DOUBLED in the past 10 years.

I was refuting your claim that "i personally have NEVER witnessed one such case" which you stated your comments.

If I had any doubt as to the validity of my experience with my own property, I was also present at a sale of a home a few doors from mine in 1999 at $70,000.00 was sold on the day for $69,500.00. The same property has been bought and sold twice over the past eleven years, and I was present when it was auctioned in April this year, and sold for $ 420,000.00.

This is why I know that my property has appropriated over the years, and has MORE than doubled in value over the past 12 years. [In fact I am sure it has more than TRIPLED in value]

Regardless of all the above, you then comment on the residents of Frankston and state that "I think it speaks volumes of the about the residents of Frankston"

Is it necessary to disparage people who you do not agree with?

I have observed in your many comments a distinct lack of knowledge of spelling and grammar. Are we then to assume that based on YOUR judgement of the cost of properties in Frankston and your assessment of its Residents, that we can safely assume that all Real Estate Staff are uneducated and illiterate?

laney
laney

Well said :)

Saray

Adam, I hope you understand this is not intended as a personal attack and we can still have fun with this as a debate. You may very well be a fantastic guy but I do strongly disagree with your opinions.

You can pick apart my own experience until you're blue in the face but my experience is irrelevant. I'm not, and never have, claimed to be an expert. in fact, I made specific reference to the fact I am NOT an expert

(though I think you misunderstood what I was saying. For work I commission independent research from property consultant companies such as Charter Keck Kramer - hardly budget or unreliable. For my own, private research for a one off residential property I invested in I use basic stats such as median prices, capital growth figures etc that I can get from REIV and RP Data - my apologies if this was not clear.)

You have insinuated that you are in some way in a better position than the average person to comment on a suburb you are unfamiliar with because you are a real estate agent. I am merely saying being a real estate agent (who works in another state no less!!) is not a property forecaster or expert in property in general. You are a salesman - possibly a very good one but a salesman none the less.

You also seem to be missing the point most of us are making, which is that the capital growth potential in Frankston is fantastic. You are going on about values now which is an entirely different thing. You are also making statements about Frankston being a low socio economic area. We know that - you are hardly telling us something new and we're not denying it either. None of us are claiming Frankson is the new Toorak. We are simply saying Frankson is on the up and changing for the better. That is not only in the media and council plans but also easy to observe just living here and by checking out recent capital growth figures that exceeds the state average and has not plateaued.

Adam you are certainly entitled to your opinion but if I disagree I'll chime in. And your opinion happens to fly in the face of just about every other piece of information from property experts and forecasters so I have to question why. What do you have to back up your claims, Adam as they go against all common sense and available resources. Maybe you know something noone else does?

I also do feel you stepped over the line - you have asked for common decency but in the same breath you call me deceptive and insincere AND insulted the entire Frankston residency. I'm not surprised linela49 has taken offence as you really attacked their claims.

I also realise I am not going to 'win' against you, Adam and I don't think you'll change your opinion as you would look too foolish if you did now, but I at least want to ensure anyone considering investing in Frankston does not get your side only, especially given you really do imply you are qualified from a professional point of view to predict the area's future (at least we are all open about our bias - of course we like Frankston! We live here!)

Oh, and finally, prior to living in Frankston I lived in Portsea on the Mornington Peninsula and have had property there for over a decade and been visiting it as a holiday destination all of my life so please do not try and tell me about my own home ground. I would not ever suggest I knew yours better because I drove through it once and knew how to use google.

I understand it must feel like you against everyone else at the moment and you have to save face but it does seem odd that a real estate agent from Sydney has such a focus on a suburb thousand of kms away and such a strong opinion that is the opposite of what all industry experts say. It does point to a personal vendetta as opposed to a professional opinion to be honest.

The opinions expressed within this review are those of the individual and not those of Homely.com.au.
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