Hi Guys,
I bought a townhouse in Woodridge(4114)in 2008 for about $160k. In over 10 years price didn’t go up at all. Now I am trying to sell the property for 160k but getting offers around $145k. After a commission to real estate, I will end up with about 140k.
I am not sure about the market etc right now as I am out touch with things. What do you guys suggest I should do? I used to get $265 a week rent for the property but now I am getting only $235.
Thank you
Hi PG,
$160k sounds low to me for a townhouse. What’s its condition, ‘cos a quick look at Woodridge’s median values over 5 years tell me it should be fetching more today. Add to that, Bne’s prices have languished these last few years while Mel and Syd screamed up. Bne missed out – is it yet to run up a bit as everyone gets priced out of Mel and Syd? Could be.Meanwhile, it sounds like this should be cf positive, so not too hard to hold – is that true? Is it worth taking a hit on its capital value to allow a better purchase somewhere else? Could it be a candidate for a different letting style with better returns? Or is it in need of a reno? What if Bne were to grow 20% in the next three years – would that have you wanting to hold on, or do you just want it gone anyway? Tell me more…..
Benny
You must be logged in to reply to this topic. If you don't have an account, you can register here.
