No show at home inspection - Even with price reduction

At least you didn't buy bitcoin at $20,000?

But really, Perth market pickups generally start August-October, so don't be disheartened to see no major movements before then.

Sale listings are marginally above 2015 levels and trending down.

Rental market is magnitudes below peak and falling, currently at its lowest since Oct 2015. I expect it to creep towards 2014 levels by next year.

Hang in there, the worst of it is over. If you can buy yourself 12 months (or even 6) you'll be looking at a very different market.

 

Tax withholding variation. No need for an accountant.

 

Hope the worst is over.

Oh I didn't know that about Perth. August to October. Ok good to know Ta.

It'd be great to see a different market in spring. Its hard to know what will happen.

I'll see what happens after my home open on Saturday and decide what to do from there.

 

You hope too much.

 

I hope a lot with real estate investment too

- when I renovated my last property I hoped the renoes would increase the value, that the rent would be higher and I hoped I would find tenants. All tose happened.

- now I am building, I hope the build goes well, the end house is worth more than I spent building it, I hope that people like it, I hope I find good tenants and I hope I get good rent

 

Without hope.....what's the point?

At some point you see something others don't. You make a play and hope you were right.

 

I could fight to keep this property like I have been the last couple of years and hope and pray that values and Perth rents go up in the next few years. Who knows what will happen if I were to hold on. They might rise or I might be in the same boat if I were to pull it off the market and put it back on the market in a couple of years time. I might still get the same money for it.

Meanwhile the stress is causing me grief. I came down with the flu Saturday week. Looking back the stress I'm under wouldn't have helped, could be the reason why I got sick. I only worked a day last week and this week I've had to go home early today. I'll get a med certificate to get the rest of the week off. It's a nasty one! Tends to hang around for a while these flus. It got me thinking that I probably wouldn't have gotten so sick of I wasn't so stressed out. I think I must take my physical and mental health into consideration when making my decisions. It's all well and good to hang on some more years but not at the expense of my health

 

Correct...but you

Yes...that is correct.

@Alex P Keaton this is something you should investigate ASAP..this is quite easy to do.

I recommend an accountant because you don't want to over state you loses per year as they ATO will claw that back with interest.

If you know you are losing 8k and will get back say $2400 (30% marginal rate of tax)...perhaps claim 5000 loss and get back $1500. The variation works better when you are on higher income. But every penny helps I guess. Good luck!

 

@Alex P Keaton this is something you should investigate ASAP..this is quite easy to do.

I recommend an accountant because you don't want to over state you loses per year as they ATO will claw that back with interest.

If you know you are losing 8k and will get back say $2400 (30% marginal rate of tax)...perhaps claim 5000 loss and get back $1500. The variation works better when you are on higher income. But every penny helps I guess. Good luck![/QUOTE]


Yep thanks, I think this is definatly the way to go. It will release a pressure valve.

I'll read up about it now.

When I'm back in the office on Monday I'll ask for the form from HR.

 

Bear in mine that Perth is possibly at it's worst time and the market has bottomed out or close to the bottom. When it is that low it would be difficult to go much lower so if you see potential in your assets with in the next 5 years then try to hold it if you could(if its not affecting your health). I've seen properties sold for significant discount only to bounce backup 200% after 5 years.

To make you feel better, I have just recently purchase in Perth, they way I see it is when you are buying that low, the potential upside are much bigger than something that's already hyped up like Hobart and Melbourne for example.

 

Bear in mine that Perth is possibly at it's worst time and the market has bottomed out or close to the bottom. When it is that low it would be difficult to go much lower so if you see potential in your assets with in the next 5 years then try to hold it if you could(if its not affecting your health). I've seen properties sold for significant discount only to bounce backup 200% after 5 years.

To make you feel better, I have just recently purchase in Perth, the way I see it is when you are buying that low, the potential upside are much bigger than something that's already hyped up like Hobart and Melbourne for example.

 

Thanks. Yeah I've been reading up on the income tax withholding form the last 20 mins Perhaps I would be able to hold on to my property if I filled out the itwf. I'd be under less stress.

I'm starting to see this as an option! What I could do is try this and see if it takes the pressure off. And then rents will rise hopefully in Perth soon too. So there could be light at the end of tunnel.

Anyhow I'll weigh up the pros and cons.

 

Hi Alex, have you had 2-3 agents go through your place and advise you what it’s worth or just one agent? Or do you have a good price indication of most recent sales of similar products? I wouldn’t be dropping any prices unless I was very confident that you’re on the money first. I’d also look into your agent, is this agent a gun seller in the area or did you go with the cheapest selling agent promising you a higher price? Having no interest at all makes me think it’s either the price you have set, the product you are selling(is it in good condition) or your agent.

 

Hiya. I could have the best agent in Perth and it still wouldn't make any difference the way the market is in Perth.

 

It seems to me like you are going from hot to cold. One post you are planning to offload underperforming asset and another you are keeping it.

Sit down. Write all pros and cons and make a decision. If you are significantly stressed you might want to take that as a consideration. What’s the point of having a property if you are not able to enjoy your life, constantly short on money and stressed to the degree it is determental to your health and well being?

You can’t buy health and happiness with money. I would personally put that above all things.

 

Yeah I know I'm hot and cold. I'm aware of that.

I guess the reason I'm hot and cold is I just find it a pity that after holding this property for 10 years during the down times now is the time Perth will be recovering and it's disappointing to sell and not experience the growth.

I can always buy something again in Perth in 3-5 years time and catch the upswing in the Perth market. Or another market in Australia that is on the rise. If I sell I'll still have 2 Perth properties that will benefit from the rise anyhow.

Even with the help of a withholding form I would still be under stress as my buffer was eaten into. Yep, It's stopping me from enjoying life. I don't spend on myself "just in case I have an unexpected expense." It's not that I'd go crazy on a spending spree but what I'm saying is it would be great to have the option to buy things that I need / want occasionally without the stress. I'd like to be able to afford a holiday every 2-3 years, that'd be great.

Yeah so perhaps I need to adjust my goals. I used to be happy to have $25,000 as my savings buffer but I think for me I'd be happier to see it sitting at minimum $50,000. I should have about $55,000 with the sale of the unit.

I don't think I'll buy again until my two properties have increased in value. I'll be using the equity as my deposit. I don't want to use any of my cash savings for the deposit. It's too valuable. My SANF and need for balance in my life.

 

They might rise, they might crash, there's no way of knowing. Certainly data can be taken into account but it's not a guarantee. It seems to me you are in a world of pain regardless. The main thing is to make a decision about what to do next. Cut your losses, or continue.

 

Rather than looking at what I might be losing, I'm looking at what I'm gaining from this. All of the pros I mentioned above and I'll have a 16 % cash savings buffer once sold. Currently it's sitting at 2.5 % of my debt. So goal is to stay above $50,000 in savings. I'll be saving hard too to build up my buffer some more as well.

Going forward I'll be a bit more conservative in investing and ensure my cash buffer stays above 15 % ! I will use equity for my deposits rather than my own cash.

 

Had a family member last year trying to sell a property in a falling country area. Stress up to the eyeballs, getting the flu all the time, can't sleep, all that.

We got to talking and I asked her how much would she pay to be free of the stress of the whole situation? She said $5000.

Five thousand if she could magic away the whole mess and move on. Five thousand for peace of mind.

Not long after that she dropped the price waaaaaay down, got an even lower offer and accepted. All up she lost about $3K once it was finished.

Now she's happier, no stress and peace of mind cost $3K.

So I'd ask: how much is good health and peace of mind worth? To me, it's worth a lot. Stress kills you.

 

Thanks for sharing!! . And it's not like I'm even gonna get a hit to my bank account either.

Yeah I agree!

I'm quite spiritual and I'm often seeing signs and synchronicities from my guides. I was asking for a sign if selling was the best thing for me to do.

Then a few minutes later as I drive home I see a man wearing a t-shirt with the number 99 on his back. I was meant to see this! He was put there in my path to see this!!

9 signifys the ending of something and the beginning of something new!

Angel Number 99 – Meaning and Symbolism

Angel Number 99 – What Does It Mean?

As you can see, angel number 99 is actually composed of number 9 that appears twice. Because of that it is important to know the meaning of number 9, in order to understand the meaning of number 99. Number 9 is always associated with the ending of something and the beginning of something new.


The Secret Meaning and Symbolism

We have already said that number 9 is associated with endings, so we can say that number 99 actually means that one phase in your life may be closed while the other is being opened. It means that a new phase in your life will begin soon and you don’t have to worry because it will be good for you.

You should let all past things go from you and you should not feel bad because of that. You have to know that something better is coming to your life, so you should believe more in your guardian angels. If something ends in your life, it means that it was not very good for you, so you don’t need it anymore. It is not beneficial for you, so it is better to let it go. It will help you discover some new things in your life and see many new opportunities that will appear in front of you.