Hi everybody!
I've just negotiated my latest deal in Nerang QLD.
It's a 3 bedroom strata titled villa, 5 years old and quite modern looking in a nice area. The original asking price was $319,000, but the vendor is sick and reduced for quick sale to $298,000, as she has to relocate overseas. I was able to negotiate down to $287,000, but saw that the agent was able to trick me into signing on at $290,000... I just noticed he changed the print last night. Seems like a real sneaky bugger. He's quite nasty really because he laughed at having a conversation with the vendor whilst she was throwing up on the telephone, and then went on to say "at least you caught her at her weakest point!", shes gravely ill. An evil sort of chap. So I've written to the agent asking what happened, and then enquired how long the cooling off period is, that should have him squirming
Anyhow I still think I got a good deal even if we can't change to $287,000 but my broker thinks other-wise. He has a good friend in Southport who is a REA that says the bottom is falling out of the market and to be very careful.. Which has me a little on edge, I see contradicting sales data and am wondering if the area is really in a good capital growth area?
API states 10% growth p/a to date
Investsmart states 12% total growth over the past 3 years
And RP Data states 14% over the past 3 years, which is very low.
But the area still managed to double over the past 10 years so I'm happy enough and I like the cheaper median price because I've done very well with lower median priced property.
I personally believe I've made a good investment decision because the area matches my criterea of high growth/demand suburb with good rental yield.
Rents for $330p/w currently by the way.
Just thought I'd share. Cheers guys
I've just negotiated my latest deal in Nerang QLD.
It's a 3 bedroom strata titled villa, 5 years old and quite modern looking in a nice area. The original asking price was $319,000, but the vendor is sick and reduced for quick sale to $298,000, as she has to relocate overseas. I was able to negotiate down to $287,000, but saw that the agent was able to trick me into signing on at $290,000... I just noticed he changed the print last night. Seems like a real sneaky bugger. He's quite nasty really because he laughed at having a conversation with the vendor whilst she was throwing up on the telephone, and then went on to say "at least you caught her at her weakest point!", shes gravely ill. An evil sort of chap. So I've written to the agent asking what happened, and then enquired how long the cooling off period is, that should have him squirming
Anyhow I still think I got a good deal even if we can't change to $287,000 but my broker thinks other-wise. He has a good friend in Southport who is a REA that says the bottom is falling out of the market and to be very careful.. Which has me a little on edge, I see contradicting sales data and am wondering if the area is really in a good capital growth area?
API states 10% growth p/a to date
Investsmart states 12% total growth over the past 3 years
And RP Data states 14% over the past 3 years, which is very low.
But the area still managed to double over the past 10 years so I'm happy enough and I like the cheaper median price because I've done very well with lower median priced property.
I personally believe I've made a good investment decision because the area matches my criterea of high growth/demand suburb with good rental yield.
Rents for $330p/w currently by the way.
Just thought I'd share. Cheers guys
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