Raceview, Queensland property market- Townhouses

[Kush62]

I have an investment property (Townhouse) in Raceview and am having trouble selling it. I'm being told that the market has fallen dramatically and that I need to reduce my price. My initial investment was around $340.000 and now I'm being told it is valued around $250.000 to $260.000. My question is, has the market really dropped this much or am I being scammed as I'm interstate.
Cheers

 

[chindonly]

Have a look online to see what comparable properties are selling for.

You don't give enough information for others on here to compare.

 

[cu@thetop]

Were any clubs etc involved in selling the property to you? Who was the agent and how did you hear about the property in the first place?

 

[Scott No Mates]

Plenty of town houses on domain.com.au as a comparison. Brand new OTP 3/2/1 are selling from $325k just to give you an idea. There are a few 4 bed houses just over $300k and one sub-$300k.

Ever since the internet became the research tool, there has been reduction in two tier marketing but no protection from the fly in/fly out type operators who offer free flights, instant finance/legal advice etc.

 

[marks]

Kush62,

I'm active in that area and few adjancent suburbs.
PM the address and the agent and I'll get you some more info.

marks.

 

[Andrew_A]

I have an investment property (Townhouse) in Raceview and am having trouble selling it. I'm being told that the market has fallen dramatically and that I need to reduce my price. My initial investment was around $340.000 and now I'm being told it is valued around $250.000 to $260.000. My question is, has the market really dropped this much or am I being scammed as I'm interstate.
Cheers

Any luck with the sale Kush62?

 

[Heinz57]

Possibly you were scammed at purchase or you bought at the top of the market.

I have made good gains in my properties at Raceview this year.

Why not pay for an independent valuation?

If you pm me I can give you the name of an agent whom I trust.

 

[uncle kenno]

I have read that the area has good potential and more growth, I am currently looking in the region, Raceview does look like one of the more affordable suburbs.

I even took a drive on google street view and found several residents waving at me - how pleasant.

Is there any undesirable parts of raceview?