What's your price?

Everything is for sale at the right price, right?

I've had an interesting day.

An agent called me today with an cash, unconditional offer on a Brisbane south side property that isn't for sale (but I had previously indicated I would consider it).

My strategy is buy and hold, long-term.

I declined the offer (it was a pretty good offer, but no more than I would get putting it to market tomorrow), and I stated that it would have to be AMAZING by the time I tallied up repurchasing elsewhere for the same goal (stamp duty, solicitor, time spent searching).

I then had someone knock on the door (an unrelated party) which I answered dripping wet in a towel (not pretty, but they didn't baulk).

They also offered to buy the house and asked for a price. I said I couldn't name it...

She jokingly offered "a million dollars", to which I laughed "deal". (I would have even dropped the towel).

So, perhaps almost a philosophical question, but is there always a price where you would sell? Even if it doesn't suit your buy and hold strategy? Do you have a rough means to work one out?

eg... 8% growth pa for 5 years = $$$. I'd probably sell for that price today.

A pleasant conundrum.
 
Everything is for sale at the right price, right?

I've had an interesting day.

An agent called me today with an cash, unconditional offer on a Brisbane south side property that isn't for sale (but I had previously indicated I would consider it).

My strategy is buy and hold, long-term.

I declined the offer (it was a pretty good offer, but no more than I would get putting it to market tomorrow), and I stated that it would have to be AMAZING by the time I tallied up repurchasing elsewhere for the same goal (stamp duty, solicitor, time spent searching).

I then had someone knock on the door (an unrelated party) which I answered dripping wet in a towel (not pretty, but they didn't baulk).

They also offered to buy the house and asked for a price. I said I couldn't name it...

She jokingly offered "a million dollars", to which I laughed "deal". (I would have even dropped the towel).

So, perhaps almost a philosophical question, but is there always a price where you would sell? Even if it doesn't suit your buy and hold strategy? Do you have a rough means to work one out?

eg... 8% growth pa for 5 years = $$$. I'd probably sell for that price today.

A pleasant conundrum.

I think you may find this is quite common in Brisbane ,we have had a few re agents with the peacock tail -style signalling of superiority who doorknock the entire small street we live in the past week,drop letters in the letterbox looking for listings,myself it may be the start of the next uptrend in Brisbane,after all it's only a matter of time before Sydney hits the limit,plus who knows the first interest rate rise within the next few months,and the decline start another cycle..
 
I'd certainly do so if the price I got far exceeded my exit and re-entry costs so I could immediately redeploy the capital in the same market, or a different one if I believed there were better future growth lrospects there.
 
^^ all of this, plus a 50-100k premium on top of the original premium.

That way I could find another house and slap another 50-100k no top of my offer without even breaking a sweat. In this market, it's pretty stressful so you'd want to be able to pay away the stress, if that makes sense.
 
I think you may find this is quite common in Brisbane ,we have had a few re agents with the peacock tail -style signalling of superiority who doorknock the entire small street we live in the past week,drop letters in the letterbox looking for listings,myself it may be the start of the next uptrend in Brisbane,after all it's only a matter of time before Sydney hits the limit,plus who knows the first interest rate rise within the next few months,and the decline start another cycle..



Yep, the letter box drops are common - including, the 'here is the smith family, who legitimately want to buy a house in this suburb, but can't'.

These private sales make it impossible for the average mum and dad investor!

I wanted the house next door and didn't know it was on the market til it was sold.

I've never had a proper offer before though.

And I've never had a buyer knock on my door!

Funny. It's up for rent and there were 10 registered parties for inspection last I heard after 24 hours.

Seems like Brisbane isn't as quiet as the (?lagging) statistics suggest this quarter? Unfortunately, the bank val was also lagging.
 
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I'd need to get an offer on my place now that would facilitate the purchase of my forever, forever home (currently in medium term forever home) so that offer would have to be circa $2-$2.5m which is way too much for this place.

I love where I live and would only sell to enable the purchase of my end goal house.
 
Seems like Brisbane isn't as quiet as the (?lagging) statistics suggest this quarter? Unfortunately, the bank val was also lagging.

Just from the sidelines but what area in Brisbane are you talking about,the last time Brisbane went gangbusters it went up 10k per month and that went on for several years,and rumors take a while to filter through into the media streams before they are denied,,.
 
Just from the sidelines but what area in Brisbane are you talking about,the last time Brisbane went gangbusters it went up 10k per month and that went on for several years,and rumors take a while to filter through into the media streams before they are denied,,.



Mount Gravatt East

When was the last 'gangbusters'? Maybe before my exposure
 
We've just had one of the "our buyer wants your house" letters too, which I normally chuck in the bin.

However, this one peaked my interest and I called, mainly to get an idea of what a particular block could be worth. If it truly is of great interest, then the offer price should be good.

I'm waiting to hear what sort of money they are talking before getting too excited.
 
Mount Gravatt East

When was the last 'gangbusters'? Maybe before my exposure

From about 2002 up till 2007, then when I started in 1983 went nowhere for several years then within about 1988 up till 1990 it went up 100%,then the recession hit and Brisbane went flat till about 1998,then it started again
and if Sydney is any guide combined with the lowest interest rates in history,it may be time to talk up Brisbane..imho..
 
I was getting my PPOR at Eatons Hill valued yesterday. One of the agents lives at North Lakes and she was looking at my IP on her mobile. She promptly asked if I'd like to sell it, would I accept high $400s? I said to call us...

It is the last place we would sell as NL should improve even more next year. Something is going on as I regularly get those RE letters from the agencies over that way. I have always thought it was nothing other than drumming up listings. My agents who manage the IPs valued them both two weeks ago and mentioned that the house is in a great location (I knew that) and that particular part of NL has been selling well recently (I had also noticed that).
 
For an investment property I would be tempted for any price that was a premium to the "top of the cycle" price.

This would mean that I'd be unlikely to sell in Brisbane at the moment.

For Sydney properties however ........

Maybe I'm not cut out to stick to a buy and hold strategy.
 
For an investment property I would be tempted for any price that was a premium to the "top of the cycle" price.

This would mean that I'd be unlikely to sell in Brisbane at the moment.



This is my feeling too.

I like 50% more than its worth, I'd take that though. The problem would be getting back in.
 
really depends on my situation on the day but likely 50% above what I feel the property is worth but at present as I just had my first child it would be probably more like 70% - 2x more as the extract stress.

I would guess if someone came at 20% more I would look but be it aint worth it.

Anyone want to buy my place for 1M, how about 2M or 10M without a doubt I would sell for 10M I would even start to move my furniture out then and help them move theirs in lol.
 
Currently seriously considering to sell my PPOR that we bought 9 months ago. A couple agents have estimated gain after fees to be about $350 - $500k. Starting to get greedy. :eek:
 
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Currently seriously considering to sell my PPOR that we bought 9 months ago. A couple agents have estimated gain after fees to be about $350 - $500k. Starting to get greedy. :eek:

These gains may be moot if you just end up spending it all to buy back into the same heated market.
 
Currently seriously considering to sell my PPOR that we bought 9 months ago. A couple agents have estimated gain after fees to be about $350 - $500k. Starting to get greedy. :eek:

WOW. What suburb? Would you downsize or relocate or buy something that needs a reno?
 
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