jad n rich

Where are you and how are you finding it.

We got valuation last week, just in case mode really, with all the talk of drops, but really it looks pretty much as expected but far less buyers. Sunshine coast - acerage, but its pretty unusual so maybe that factor helps.

I was wondering if anyone on the market had experienced a sudden rush of buyers before the stamp duty goes up on august 1.

Going to get the brisbane house valued tomorrow, so hows that market going?

Kim67

There are about five houses within two streets of me that have gone on the market in the last couple of weeks. Two of them are going to auction on 23/7 and are probably in the vicinity of 3 million plus for the most expensive. I'm going to go along and check if they sell or not and keep an eye on how long things are taking to move. There're loads of new builds and extensions happening at the moment too and wondering if some of those will go on the market.

JackTheLad

We haven't got our house on the market and don't intend to till we retire. However houses near us are selling very slowly. A few sellers have reduced their original asking prices, some absurdly high in my opinion, by $20k-$150k. Those that have sold, have all sold at at least 10% lower than their lowest asking price.

One particular house was on the market 4 years ago, then off the market, on again 3 years ago, then off, then on again about 6 months ago. It's not at the greatest location as one side of the property borders a major road, near a junction. Highest asking price at the start was $750k, if I remember correctly, but now $595k. Still no taker.

Another neighbour recently sold but I don't think they go anywhere near their asking price. I may know a bit more when the real estate "enthusiasts" in the neighbourhood share with me the latest goss.

Mrs JTL

Bix

I hope you are not influencing the market.

JackTheLad

May be not me or the monsters, but perhaps my husband?! You know how well he gets along with everyone around here...

Mrs JTL

Kim67

Okay, this one in my neighbourhood has been on the market about a month I think, sold sticker went on it today. Don't know how much it sold for, but my estimate would be somewhere between 500k-600k. There's a street party on the weekend, someone will know how much it went for and let you know.

http://www.remax.com.au/DisplayProperty.asp?guid={31575AF8-1829-457D-8B48-DBC73ED43070}

Just read it said offers in the $600's so may have gone for a bit more than I thought.

moneypenny20

Hard to say. We're not but there's always one or two up for sale along the road. One has been on and off the market for three+ years now, another one has had a board up for over a year. A couple of others have sold quite fast. A friend has a stunning house for sale, went to Auction last November, didn't sell but she accepted an offer a couple of weeks later which fell through and she still hasn't sold it. I'd love it but don't have the money.

Kim67

Okay, according to the neighbours at our Christmas in July this arvo, this house was on the market for three weeks and sold for 590k.

jad n rich

So they got close to their high price then - and a quick sale.

Its a unusual market, one week its interest rate rises, 2 days ago its become interest rates falling. We dont have a mortage but it affects the buyers.

Weve had 3 agents look at our house, 2 have priced it as we would have expected, and one agent priced it 200K BELOW. I was fully expecting this tactic SIL has an agency and says many agents are talking prices down so they can get a quick sale and hands on the 25K commission.

We cant sell yet, pity as stamp duty goes up august 1, need to do a bit of sprucing up , teens and dogs dont really give the dislplay home look

furbacchione

Was talking to a valuator friend the other day and he said the main reason there are so many auctions these days is the real estate scum have no idea what the value of a house is. They stand back make the owner pay for it all and also get the public to determine the market value. Then if it doesn't sell they get to put it on the market and scam a commission as well.

BadgeIsBack

Don't blame them - the way house prices have been moving for 10 years, and now a cooling - the price guess is anyones...

the market will determine the price..

Good luck Jad...

When you're cashed up...lie back and think of Queensland...

brendarover

Well, maybe the poor exchange rate can be offset by a nice chunky reduction on the new pad?

Sterling has fallen 40%, relative to the Ozy dollar, we can only drem of that one million pad falling to $600k, so in hidsight, the forex hit ain't too bad hey de hey!

jad n rich

Last bloody thing I will think of

Bix

Sorry, I don't comprehend what you are saying.
Did you get the value or currency muddled?

moneypenny20

Got his forums muddled more like.