Can I hear a few viewpoiints here please.
We have a unit at Sunrise (beachside) Noosa with oceanm views from balcony. Bought September ’02 for $235K. In husbands name for tax. Currently valued at:
-$380K (bank valuer)
-$400-425K our agent.
Crazy offer is some agent rang us out of the blue and said she had a buyer at $449K and they would negociate the commission. We have reviewed our goals previously and have always used the equity to fund other IPs but is this offer too good to turn down or do we stay for the long term?[^]Firstly [^][^]
On buying well
“Money is a currency, like electricity and it requires momentum to make it Effective”
Thanks,
It was a great buy but do we hang in there [
]Deborah,
Let us know if and when it goes through. On the surface it does sound a little crazy. But, like you it sounds a pretty good offer.Just take into account capital gains tax, selling costs etc, which may take a big chunk out of your profit.
Maybe its time to re-value the property again.
Is there anyting happening to the land or developments around your property?
James
This may just be a marketing scam by the REA. The agent may not exist and they might just be after a listing.
I hope not.
Cheers
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Hi Deborah,
I try to go to Noosa as often as I can for a holiday. That place just keeps changing(for the better). I would personally hang onto it, as I was going to buy my first IP there 4years ago but never did[8]“This may just be a marketing scam by the REA. The agent may not exist and they might just be after a listing.” by MortgageHunter
I have received two letters(addressed personally) from seperate REA’s since I bought my own home 18months ago offering a great price only to find that my neighbour also received the same.
I too hope this isn’t the case of a marketing scam
Cheers Ben
like you guys, i too am getting letters and phone calls asking me to sell at stupid prices. one IP is in darwin and the other in Queanbeyan (ACT border), but at the same time everything has a price. i would get them to prove they have a buyer and ask to see paperwork.. the REA that are ringing me, when i ask for this, soon shut up and leave me alone.
cheers
shaunLead, Follow or get out of the bloody way
Thanks everyone for your responses. We think we will hang on to it for the long term so we have some leverage into coastal property when we retire.[:o)]
Deborah,
I think you made the right choice to hold! I agree with most of the other replies. The offer sounds to me like an agent trying to drum up business by throwing some bait.
The only way to be sure, if you were to consider selling, is to tell the REA to get the offer in writing from the other party and then do your numbers.
I wonder if you would hear from him again?good luck and good investing
Fixit
“Good enough is NOT good enough”to quote a film…”show me the money” tom cruise was in it.
or equally, put your money where your mouth is…stops em quickly.
Hi Deborah,
Without knowing the full details of your situation I would, on the face of it, recommend you hang onto the property.
In about two years you have had significant gain – why be in a hurry to cash in your chips when there will be more growth (certainly in the long term to come).
You may well be in a position to lever off this property into more investments.
Derek
Not to mention that Noosa has a population cap which will help sustain high prices and push them even further in the next boom. Then there’s the fact that it has a north-facing beach, which means it is warm enough to have a tourist season even in early and late winter. (My kiwi relatives often go there in July to swim!). Noosa is unique. If you sell, you may never get in there again. You may also want to live there yourself when you retire.
Regards
teabagtedValuers always go very conservative on valuation, so your property is porbably easily worth that price, there is also good growth in the area, so if the property is pos geared then keep it and wait for better offers, or tell the realo you are interested, but the offer isnt high enough for a sale.
Good luck!
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