Viewed an awesome beach side house today

You could literally walk out the back gate on the sand

BUT

I struggle to see "value" anywhere

Yes it was "only 4 years old"

But it was built, lived in, and owned by the same builder

Some of the downstairs wasn't finished

The outdoor area could have been nicer

Yet, they want premium prices for it

1000 sqm of paradise

But at what cost?

It's like the physical real estate market has got totally detached from value

The workmanship was ok

But the design as simple as possible

Build and flip

Build and flip

Into a highly leveraged market

Yes, someone had shown interest at close to the asking

But just because someonelse wants to buy it at the owners asking

Doesn't mean I have to

At best, if you rented it out, I reckon you might get a 5% net yield

Totally and utterly overpriced

WTF

Depressing in some ways