TRASH TO TREASURE

BUY YOURSELF A SLICE OF BEACHSIDE LIVING FOR UNDER $350,000

HOMEBUYERS are seeing the positives in Geelong properties that have had their day.

Two properties scheduled to go under the hammer tomorrow fall into the renovate or detonate category.

But the listing agents said buyers were overwhelmingly looking past the dilapidated condition of the houses to see what could be in locations that were becoming increasingly sought after.

The auctions come after a well-worn Geelong West house cordoned off by protective tape to keep people off the rotten timber veranda sold for $610,000 last weekend after attracting five bidders.

The first property is an early brick veneer ex-commission house in East Geelong that has it all from peeling wallpaper to missing taps and cracked and stained floor coverings.

Ray White, Geelong, agent Glenn Hardman said family was handling the sale for the owner of the three-bedroom house at 319 McKillop St, which last sold for $22,000 in 1975.

“It’s an old home that’s in pretty poor condition inside but I’ve got plenty of interest in it,” Mr Hardman said.

“Most people are talking about gutting the place, just installing new carpets, kitchen and bathroom, etc,” he said. “Just modernise it and stick with the exterior.

“It’s a great location and people love that.

“Structurally, it’s pretty good for its age, there’s no cracks or anything like that.”

Mr Hardman said the $350,000 to $380,000 price guide reflected the state of the property.

While East Geelong’s median house price is close to $600,000, the neighbouring house sold in January for $445,000.

Buxton, Highton, agent David Gray has welcomed close to 100 groups through the property at 2 Seaforth St, North Shore, in three weeks who are quizzical about why a house 200m from the beach is selling for less than $350,000.

“There is a lot of people curious about that position,” Mr Gray said.

“The house is not habitable — the price is purely reflecting the land size,” he said.

“The roof is new and the stumps are good but everything in between needs a lot of work to get to a liveable condition.”