No time wasted in ‘fast, furious’ sale
A YOUNG Gold Coast couple will relocate to Mermaid Waters after snapping up a highly sought-after home in a “fast and furious” auction.
The waterfront property on Cadence Ave sold in less than 20 minutes in front of a crowd of more than 100 people on Saturday.
Ray White BroadbeachMermaid Waters principal and auctioneer Mitch Palmer said the eight registered bidders were serious about buying on the day.
“It was pretty fast and furious – all the buyers certainly came with a strategy and agenda in mind,” he said.
The bidding started at $1.2 million before quickly climbing to $1.54 million when the hammer came down.
Mr Palmer said the successful buyers outbid several interstate contenders.
“They were a young couple based out at Miami,” Mr Palmer said.
“They wanted a beachy lifestyle ... and a nice waterfront home.”
He said the four-bedroom, three-bathroom residence attracted a lot of attention in the lead up to auction with 158 inspections held during five weeks.
“The home itself fit a lot of demographics, from young families to downsizers to people moving up from interstate,” Mr Palmer said.
“It’s on wide water too, which people appreciate – that has a lot of appeal.”
Mr Palmer said the home had been beautifully renovated, which set it apart from many others in the area.
Seller Brendan Sievers told the Bulletin last month he didn’t hold back when it came time to renovate the dated 1980s-built house.
“I always had it in my mind that we were going to make something nice out of it,” he said.
He knocked out walls until the home’s shell was the only this left. The result is an opulent oasis.
“I tried to have something that grabbed attention in every room,” he said.
Mr Palmer had advice for those keen to renovate, particularly older properties in Mermaid Waters.
“Don’t half renovate your home, either keep it original or go to town on it,” he said.
He expected Mermaid Waters, which has a median house value of $867,500, to remain a dominant suburb in the property market.
With a lower median price WITH ALEISHA DAWSON & JESSICA BROWN than many surrounding suburbs as well as its proximity to the beach, cafes and restaurants, and major shopping centres, Mr Palmer said it would remain attractive to prospective buyers.
“I expect to see this trend in Mermaid Waters continue,” he said.