Savvy buyers can pick up a whole Lota bargains

first_imgThe cottage at 32 Belgamba St, Lota.A post-war cottage in Lota has sold under the hammer  as the local market begins to cool.The property at 32 Belgamba St sold to the highest bidder for $400,000 on June 17.Marketing agent Solomon Soner of Team Solomon Estate Agents said “20 odd” people watched on as three buyers vied for the three-bedroom home. “There was a bit of negotiation with the vendor, who was on the phone interstate but in the end she was happy with the (sale price),” Mr Soner said. “The buyer is a local man who will be an owner-occupier.” Mr Soner said the property, which was three streets from the Esplanade and Boxhead Park, attracted a solid amount of interest during the marketing campaign.More from newsCrowd expected as mega estate goes under the hammer7 Aug 2020Hard work, resourcefulness and $17k bring old Ipswich home back to life20 Apr 2020“We had nine groups come through in the lead-up to the auction,” he said. “The home is post-war and in need of restumping — most people wanted to buy it to knock it down and build a new home.” Mr Soner said the Lota market in general was “going a little sideways and slightly down”.The Cleveland-based agent said the slower market was most likely due to the normal seasonal downturn.“Some winters are great and some are not — this one is a bit slower than others,” he said. “There are less inquiries per property … so it’s the best time for buyers to try get a bargain. “There will be more stock coming on to the market in spring but there will also be more competition.”last_img

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