pre-Christmas unit sales

Hello all.

I realise I am not an active member, but if I could get some advice it would be greatly appreciated.

I own a studio apartment in East brisbane QLD. I am looking to sell to get some cash but I am a bit weery to put it on the market now and waiting till next year. My reasoning being that people don't generally buy property around christmas and I might get a better price waiting a couple of mothns after. Am I right in this assumption? The sale needs to be atleast first quarter 2010.

Regards ,

denzboys.
 
I own a studio apartment in East brisbane QLD. I am looking to sell to get some cash
If you just want cash and it has been a good investment property so far, why not just refinance some cash out of it? (if you have enough equity).

but I am a bit wary to put it on the market now and waiting till next year. My reasoning being that people don't generally buy property around christmas
That is not necessarily true. Get a couple of REAs around to give you an opinion of the best time to sell. They should (will) have data on peak selling periods.

and I might get a better price waiting a couple of mothns after.
You might get a better price IF the East Brissy unit market is rising. Again a couple of REAs will know. My APM data has East Brisbane units falling 7% in the last 6 months.:eek:
 
If you just want cash and it has been a good investment property so far, why not just refinance some cash out of it? (if you have enough equity).

That is not necessarily true. Get a couple of REAs around to give you an opinion of the best time to sell. They should (will) have data on peak selling periods.

You might get a better price IF the East Brissy unit market is rising. Again a couple of REAs will know. My APM data has East Brisbane units falling 7% in the last 6 months.:eek:


To be honest I didn't even think of refinancing. I'm going back to study (overseas) and wanted to rid of all debts. I will look into it more though.

"My APM data has East Brisbane units falling 7% in the last 6 months."

Wow, I will check that out also. My apartment block has held its price for a few months now, but it hasn't dipped.

Thanks for your insights Propertyunity.
 
My apartment block has held its price for a few months now, but it hasn't dipped.

Good. That's the problem with published data. Your unit block might have held, other areas within the same suburb may have gone down or just cheaper units were being sold (FHBer effect). So that's why I suggested talking to a couple of REAs that are active in your area.
 
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