Couple find dream home in Frenchs Forest and in just two hours, for $1M it’s theirs

WHEN expectant parents Dave and Alana Nichols got their first glimpse of their future Frenchs Forest dream home, it was love at first sight.

Dave and Alana Nichols have just purchased their Frenchs Forest home after viewing the pl

WHEN expectant parents Dave and Alana Nichols got their first glimpse of their future Frenchs Forest dream home, it was love at first sight.

So much so, that less than two frantic hours and more than $1 million later the four-bedroom home was theirs — and the young family isn’t looking back.

“It might seem like a rash decision, but it was definitely a happy decision for us,” Mr Nichols said.

Levy St, Glenbrook, is a two-bedroom house that sold in four days for $600,000.

The fast-acting buyers are not alone in the current Sydney property market that is overflowing with hasty purchasers latching onto limited real estate stock.

“We’d see something online, call up and it would be gone even before the first inspection,” Mr Nichols said.

“The market just seems to be moving at a furious pace.”

Days before snapping up their new home, the couple were enjoying a holiday in Malaysia, which was cut short by the sudden passing of an elderly relative.

“While Alana was up in Terrigal making some funeral arrangements, I guess I accidentally went online and saw this house,” he said.

“I called the agent and said ‘I suppose this one is gone too?’ and he said, ‘Funny you should ask, but you’ve got a couple of hours until the offers are closing — if you want to make an offer then do it now’,” Mr Nichols said.

Craig St, Blacktown, sold in three days for $525,000.

After six months of “on and off” house-hunting in the lower northern beaches, the Nichols knew exactly what they wanted and were tired of missing out to other buyers.

So after a few frantic phone calls, a private inspection and a successful offer, the Nichols had spent $1.05 million in under two hours.

First National Frenchs Forest’s Michael Buckley, the agent behind the sale, said in less than two weeks he had shown more than 130 groups through the house.

“Things are extremely heated at the moment. Buyers are coming to me saying ‘What do I have to do to secure the sale?’, ” he said.

This Macleay St Elizabeth Bay one-bedroom unit sold for $750,000 in one day.

Selling agent Darren Pearce, of BresicWhitney, also attested to the hectic pace of the Sydney market after last week listing a two-bedroom Surry Hills unit that sold in less than 12 hours.

“I put it on the internet at 3pm on Thursday and we exchanged on it by Friday morning. It was an astute buyer who knew the market, wanted to buy — and did,” he said.

Real estate agent Darren Pearce sold this apartment in Reservoir Street, Surry Hills, within 12 hours of its listing. Picture: Justin Lloyd.

Property expert Andrew Winter said when markets were busy, frustrated buyers risked making emotional decisions. “If buyers are missing out, or fear missing out, on properties, that creates a frenzy and it’s human nature to want it more,” he said.

“That’s why I’d say that in a market like that, investors should stay clear. But if you’re an owner-occupier who’s buying their long-term home, and buying suits your circumstances right now, then selling in a peak and buying in a peak market is all relative.

“I’d say don’t expect a bargain though, but you might find your dream home and if you’ve spent a little more to get it, then what does that matter in the long term?”

It’s a sentiment echoed by the Nichols. “Sometimes you’ve got to take a bit of a risk, but this was a good risk as the home ticks all the boxes, we love it,” said Mr Nichols.