Who is Selling

I have 2 on the market in NZ (if there's enough interest I'll list another) and 1 in Georgia USA.

 

Yes agree in general, however if the property is off market, it's the only way to get it to a sufficient amount of prospective purchasers

 

So over a 14 year property investment journey starting in 2006 where we purchased and held 5 properties, we finally sold one.

We were always planning on selling this particular property before Oct 2020 to avoid capital gains. So the covid property doom and gloom was just bad timing.

I feel we sold for approx $30k under what we expected. However...

Property in Caroline Springs

Many many private opens. When government lifted restrictions, Saturday opens showed much interest.

Many enquiries.

Only two offers.

So even during the height of the covid restrictions, there were many enquiries to see the property.

Perhaps our expectations were too high, as the feedback from many brought light to the shortfalls of the property. Small block, hardly any backyard, small bath rooms, small bedrooms, lacking kitchen storage etc.

We are still stoked with the sale as are the buyers who are pushing for settlement asap.

Did covid impact our ability to sell the property? Potentially yes however far from the negative doom and gloom painted by the media in April.

 

Good outcome

 

Glad to hear @TangibleGoodwill

How do you think the price performed similar to properties pre-covid ?

Also, here in Sydney I’m seeing a lot of low ballers at opens - people who expect the property for 20% below the pre-covid price

 

Wonder how the grants will go?

In Perth FHB potentially can score $55k with all grants. Its going nuts here

But there is a twist builders now taking advantage and increasing build costs

 

Not much of a difference.

A similar property across the road sold for $15k more in Nov last year.

Another right across the road sold for $50k more Feb this year, albeit a much better presented home compared to ours.

The $30k I feel we missed out on is probably 2/3 our high expectations and 1/3 covid to get the deal over the line.

 

What is $30K in % terms if you don’t mind my asking ?

 

Wanted $690k sold for $660k so 4.3%

 

Same/comparable quality agents as for the other nearby sales?

 

Houses in my search zone in melb (600 -950 range) beginning to start picking up again. Still pretty scarce listings and busy inspections.

 

The exact same agent

 

I am selling land (1-2 split).

Went to market in early Feb... COVID hit;
then a few nibbles... & Fed Gov't hints at possible grants in the future so all serious enquiries stop;
... and I get made redundant very unexpectedly... no time to lock away any refinances or other while I have a pay slip.

now finally the $25k homebuilder has lit a fire under some and hope to have a contract on the first block in next weeks.

I'm sure another bloody hurdle will pop up as I'm just not very lucky it seems.

 

Atlanta burning.... are you selling any there?

Atlanta protests aftermath: A charred Wendy's, an officer fired and a police chief steps down - CNN

 

Agonising over whether to list an IP in regional Vic for sale. It's currently between tenants and having a cosmetic reno. It's on almost 1 acre (but zoned rural living, so not subdividable), but close to town, so hoping to attract competition from tree changers looking for peaceful safe country living.

 

Yep, I can vouch for that first hand.

 

I am happy to be put right but I have commented elsewhere on here that I expect vacant land and holiday homes will be the first to market. I was just looking at Batemans Bay and south plus Jervis Bay - part of the Canberra bubble. I haven't followed these markets but have glanced at them from time to time over the past 10 years or so. It seems to me there are very large numbers of properties on the market, far more than may sell in the next three months, but the prices don't (yet) represent value.

 

What is it about this is area you think causing this?
Must admit I like the Jervis Bay area

 

It is a lovely area and as my partner is retiring soon we thought we may finally have the opportunity to get value out of a modest coastal shack.

My thoughts are that people are letting non-productive property go, especially if it has a mortgage over it in order to protect the ppor or more productive investments. This is first off the holiday house that is mortgaged but doesn't earn its keep (few do) or a block of land destined for a holiday home. The area I discussed is too far from Sydney/Wollongong for employment and doesn't have a robust local economy so jobs are an issue. The prices are similar to Canberra in many cases which are quite high and I don't think the bush fires are helping.

I expect other lifestyle assets will also see increased disposals - boats, cars, shiny "boys toys" etc.

 

Atlanta is hot anything under $300,000 USD
I am around $200,000 mark. Will let you know/update when I list and sell