Who is Selling

Discussion in 'Property Market Economics' started by MTR, 16th Apr, 2020.

Join Australia's most dynamic and respected property investment community
Tags:
  1. MTR

    MTR Material Girl Premium Member

    Joined:
    19th Jun, 2015
    Posts:
    22,018
    Location:
    My World
    Curious, anyone selling at the moment or looking at placing a property on the market?
     
  2. spoon

    spoon Well-Known Member

    Joined:
    17th Nov, 2016
    Posts:
    999
    Location:
    Time-dependent
    I know one deceased estate sold because the stakeholders lost their jobs or in the brink of running out of money given the Covid19 situation. So they sell the property at whatever price they can get. Afterall, every dollar helps.
     
  3. Propin

    Propin Well-Known Member

    Joined:
    7th Mar, 2016
    Posts:
    1,333
    Location:
    Perth
    My friend in Brisbane put his OO house on the market 1.5wks ago and it sold in 3 days. He’s moved 2 hours drive away. I think a rental property would be quite a bit harder. I’m so tempted but the lease has 5 months to go and I think by then things could be Very different.
     
  4. Rugrat

    Rugrat Well-Known Member

    Joined:
    16th Jul, 2015
    Posts:
    314
    Location:
    Australia
    We were going to sell a house. But decided to tenant it for now instead and sell later.
     
  5. Kassy

    Kassy Well-Known Member

    Joined:
    21st Jun, 2015
    Posts:
    550
    Location:
    Canberra
    Same here
     
  6. Kramerica12

    Kramerica12 Active Member

    Joined:
    13th Oct, 2019
    Posts:
    36
    Location:
    sydney

    Have you had to accept a lower rent to get a tenant?
     
  7. MTR

    MTR Material Girl Premium Member

    Joined:
    19th Jun, 2015
    Posts:
    22,018
    Location:
    My World

    Its so difficult as we are totally dependent on how our economy pans out?? It could get worse before it gets better??
     
  8. Kassy

    Kassy Well-Known Member

    Joined:
    21st Jun, 2015
    Posts:
    550
    Location:
    Canberra
    @Kramerica12 the property is already tenanted but the lease is due for renewal in just over 2months (would have had to give them 2months notice - this is Brisbane). Would prefer to sell empty and staged due to the type of property but will hold for now.
     
  9. Coconutwheels

    Coconutwheels Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    245
    Location:
    Newcastle
    We've listed one regional cheapie cash flow property last week, I've just finished renovating another better regional one, and will hopefully have it listed next week.

    So far more enquiry than I expected.
     
    lettert and ellejay like this.
  10. Rugrat

    Rugrat Well-Known Member

    Joined:
    16th Jul, 2015
    Posts:
    314
    Location:
    Australia
    No. The house is in Canberra. Vacancy rates are extremely low there and demand very high. A tenant hasn't been placed yet, as there is still some work being done to it (new paint and carpets). But we have several applicants lined up already, all in secure essential jobs. We are definitely being pickier then normal about which tenants we approve.

    The situation could be different if it were located in a different location.
     
    Propin likes this.
  11. +men

    +men Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    153
    Location:
    Sydney
    I was initially thinking to offload 1 or 2 IP to create more buffer, but hang on....open inspection was banned.....ummmm....
    how should i sell?
     
  12. kierank

    kierank Well-Known Member

    Joined:
    10th Oct, 2005
    Posts:
    7,720
    Location:
    Gold Coast
    We have our PPOR on the market (selling as we want to downsize), we have a really good offer (about 10% above the REA appraisal), cash offer with one condition to be fulfilled (by end of this month), ...

    So fingers crossed. If the contract falls over, it is not the end of the world for us.

    As we all know, there are far worse things happening all over the world at the moment ...
     
    craigc, The lucky duck, Kassy and 8 others like this.
  13. iloveqld

    iloveqld Well-Known Member

    Joined:
    11th Jan, 2017
    Posts:
    325
    Location:
    Brisbane
    Look like all good news and inline with my small survey around my contacts. Most are putting off selling as most of small investors like us havent been affected yet. Luck.
     
  14. Sackie

    Sackie Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    18,192
    Location:
    Bondi Beach
    Development on the market 2.5 weeks. Haven't sold yet because too many bargain hunters. Had some decent offers but still about 50k away from where I'd like so I'm happy to hold until I get my price. Agents really doing a good job though.

    On the flip side, almost made close to 500k in the stock market over the last 4 weeks or so. So.... :D


    When the Lord closes one door....all ya gotta do is look for the window he'll/she'll leave open :cool:
     
    Esh, MTR, KateSydney and 7 others like this.
  15. kierank

    kierank Well-Known Member

    Joined:
    10th Oct, 2005
    Posts:
    7,720
    Location:
    Gold Coast
    ... and if you can’t find one, just make one :p.
     
    iloveqld and Sackie like this.
  16. Sackie

    Sackie Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    18,192
    Location:
    Bondi Beach
    Fixed. :p
     
    KateSydney and kierank like this.
  17. The Y-man

    The Y-man Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    8,928
    Location:
    Melbourne
  18. Car tart

    Car tart Well-Known Member

    Joined:
    16th Sep, 2018
    Posts:
    672
    Location:
    Sydney-Melbourne
    Yes, PPOR on market in West Pennant Hills, photos will be taken today, we’re downsizing and purchased in October, but slowly renovated the other house as we saw no rush. Took a few weeks holidays.
    Now regretting that we didn’t get straight into it., so we could sell the old one.
    We dont want to rent as we did a $360k renovation 4 years ago when we bought it. We certainly don’t expect to get our money back but my belief is that PPOR are about quality of life and not about the finances. It no longer suits our needs as we are empty nesters, so to a 3 bedroom home on 4,000 metres with a running streamin the next suburb.
    New house is 8 mins walk to Metro and has 12 lock up garages so suits our new lifestyle. It is also hidden by trees in the end of a dead end street so easy to leave for weeks when we go away.
     
    Dean Collins, MTR, KateSydney and 3 others like this.
  19. MC1

    MC1 Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    324
    Location:
    Melbourne
    Selling one of my most expensive properties. First 2 people through have both made offers, just shy of what I want
     
    ellejay, standtall, Propin and 2 others like this.
  20. Sackie

    Sackie Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    18,192
    Location:
    Bondi Beach
    Possibly no massive RE crash. I think all the stimulus and legislative measures put in place might just cushion it a lot more than people realise. But anything is possible .
     
    Mr Burns and ellejay like this.