Who is Selling

My friend and I have our IP ( on Airbnb) on the market in the northern suburbs, there has been a surprising amount of interest in the last week, mind you, talk is cheap!

 

You did what you had to do. No point kicking yourself about it.

 

On the market to sell?

 

Yes, it went on the market before the world changed, we are ok with not selling, I was a bit surprised when interest picked up, I suspect there may be buyers thinking it would be a fire sale, we had one offer early on, (pre Covid) that we knocked back, we shall see.
I posted in another thread about airbnb, it had been doing really well but obviously cancelled bookings post Covid, however over the past fortnight we've had four requests,all dodgy or offering much less than it is listed for, we've declined them.

 

You need multiple agents on the case if you take this path

 

i got one on the market. had it on for a few weeks. at least you know the viewers are serious although no offers yet.

 

Can you elaborate please? Post GFC sentiment?

 

I’m also curious how people can still manage borrow to upgrade in today’s climate with banks’ tightened criteria. Just because you can borrow $900k 5 years ago to buy a $1m property doesn’t mean you can still borrow $900k now after offloading that property. From what I understand, banks are discounting salaries and bonuses etc with stricter assessment after the Royal Commission, even with the post election recovery.

 

Yep found out the hard way. Biting the bullet and advertising see whats still out there.

 

The market now reminds me of post GFC.

Sellers particularly, listing properties at what I personally viewed as poor timing and buyers with longer horizons picking up distressed blue chip assets at deep discounts.

 

I feel this is going to happen and thanks for sharing as I was not paying attention in the GFC. Which areas are you tracking to give you this idea/observation?

 

Im in the market to Buy,
Im sorry i don't see many bargains.

Im hoping have 2 viewing this weekend.

All good quality properties were pulled off the market just before Easter . Their is simply little to no investment grade stock .
Just alot of crap ....Im RE daily. I

 

That would have been the height of the fear as the lock downs were all kicking in rates were going through the roof.
I’m finding people have pulled properties and little choice and still struggling to get. A bargain


Congratulations on a good result.

 

Agreed. I think we just need patience

 

Hiya
Love an update? If you care to share

Many mixed messages about the Syd market

thx

 

I always think multi agents is suicide, never do this???

 

still for sale. a few offers but too low.

 

Tonight's SBS news: Sydney prices increased 0.4% in April.

True - the agents try to compete with each other when dealing with buyers. Buyers very quicky figure out there are multiple agents on the job, and then agent A says to the buyer "I can get it cheaper for you than agent B"...

 

Thanks for update. All the best it sells soon