Discussion in 'Property Market Economics' started by MTR, 16th Apr, 2020.
Curious, anyone selling at the moment or looking at placing a property on the market?
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.
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.
We were going to sell a house. But decided to tenant it for now instead and sell later.
Have you had to accept a lower rent to get a tenant?
Its so difficult as we are totally dependent on how our economy pans out?? It could get worse before it gets better??
@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.
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.
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.
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?
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 ...
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.
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....
When the Lord closes one door....all ya gotta do is look for the window he'll/she'll leave open
... and if you can’t find one, just make one .
Hello from Ballarat. Any ideas for my property?
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.
Selling one of my most expensive properties. First 2 people through have both made offers, just shy of what I want
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 .
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