Selling 2 of my IP's - looks like a loss is coming

Ipswich is also flying. Everywhere is flying that is considered Brisbane

Brisbane, Logan, Ipswich, Redlands, Moreton Bay - these are the five main LGAs that surround and make up greater Brisbane.

Each and every single one if now flying with Ipswich late to the party but well and truly taken off as well.

 

The ripple is well and truly in action, the properties closer to the m1 in Logan have had huge growth and now this craziness has moved to middle logan around Regents Park etc. Huge monthly price growth in.that area...and on it will ripple out in time

 

Yes. Very.

 

Yep - decided to hold onto the Ipswitch place now. Had it valued last month, 410k. Market tolerance to what people were wanting to pay 3 months earlier was around 370k. So I would image (educated punt) now its value is around 450k - as we all know how banks like to value low.

That's a snappy 80k equity spike in about a 7 month period (give or take).

 

You made the right choice to hold. Easiest money you've probably made by just holding. My best friend sold one of his investments back in July. He is regretting is badly now. Easy $100k out of pocket for him although it was not in Ipswich so probably closer to $150k out of pocket now.

 

That was my experience as well. Bought about the same time for 115,000 in Brisbane; 5 years later it was worth 105,000. I struggled but was able to service an interest only loan. I’ve always been a great believer in the buy and hold strategy. So glad I didn’t panic and sell because it’s now worth 700,000 and rising quickly. Ipswich is doing well at the moment. Anyone know how Toowoomba is performing?

 

And the rest …

It’s going bananas

as I said in my first reply to you . That would have been a good time to buy in ipswich.

IMHO , we’re only in the early days of this cycle

Going up this year while still in lockdown . Initially was first home owners but now the cashed up interstate buyers are in the market .

currently via ba’s or punts unseen .

Normally dec / jan is a quiet time in the market and then it kicks on in feb , but with interstate buyers able to see places , we might see some interesting prices .

Interestingly most of the agents don’t see this going for long and they see this as an opportunity to get top dollar . I’m not sure if they genuinely believe this or they’re saying that as I always say I’m interested in selling ( which I am , just not yet ) .

My experience is that local agents NEVER get it right when they give their opinions about where the market is going . they’re to focused on the specifics of what is happening at the moment . They don’t look at long term patterns. They don’t look at what has happened interstate .

cliff

 

Interesting you say that. About a month or so ago an agent called me, telling me how I should sell now before the market crashes. He was painting quite the doom and gloom story. If I wasn't so confident in my own analysis I could have been persuaded.

Then after 15 mins of not getting anywhere with me, he admitted that he just needed more stock - there was barely anyone selling and they were desperate for listings.

So after all that time the truth finally comes out, I thought! Ha.

 

Lot of spin out there trying to get listings . Also given the lack of listings , different agents having different experiences .

I had a conversation with one agent a few weeks ago about a property which they said they had offers in mid 300's including one of 370 after a contract had been signed at 370 . Although not stated my strong impression was the price was around 350 . So I was surprised when it popped up in the sold section as 305 ...

rang agent to check this wasn't a typo ( have seen that ) . No it wasn't .

But " the seller needed cash urgently for a purchase and the offer they accepted was unconditional finance and B&P " . The agent did some more spin and said it was a good time to sell ours in the same street .

Has call on speaker with wife and as I hung up we looked at each other and both said " bulls*** "artist .

So many different ways to spin stories


Cliff

 

This thread remind me about my current trading in share and the history of my property investment property. At the early stage, I don't know why I always have a feeling that the properties I held were lower grade without (or with less) capital growth potential. After 20+ years, it turns out that every property from everywhere across Sydney, Brisbane, Sunshine coarse, Adelaide, the percentage of growth is very similar. I hope someone can tell me which poor property in the most poor area has less value than 20 years ago, or has less growth percentage.
Today, I am focus on share trading and falling into the similar mindset. The share always has down period and I took stop loss when it is down.
Someone told me that he never see the share (index fund) is going down because he views it in long term.
So, the key is to hold investments for long term with time value in order for the success of investments. Get rich quick is the key point to stop us moving forward.