Buying or Selling....who's in?

[clips]

" Collecting rent and pretty much ignoring the market at the moment "

me too.... had a tenant move out 10days ago after 3yrs,, and one advert
brought in 7 potential new tenants.. so still can be selective
also squeezed the rent up 4% ... in chch

[Arbitrage]

No, I have good tenants and they can be hard to come by.

Comes down to the math at the end of the day eh?

Where are you based if you dont mind me asking?

Based in Auckland. I am going to raise the rents to around the median for two long term tenants. This will be a % of between 5 and 8.5%. First time in 2-3 years, and probably not as much as what the latest rentals are getting. Hopefully it won't motivate them to leave. It will still lag the increaesed costs related to rates, interest etc over that period.

[STRAT]

Based in Auckland. I am going to raise the rents to around the median for two long term tenants. This will be a % of between 5 and 8.5%. First time in 2-3 years, and probably not as much as what the latest rentals are getting. Hopefully it won't motivate them to leave. It will still lag the increaesed costs related to rates, interest etc over that period.

It will do you know harm to talk to them before you do anything.

Usual bargaining rules apply. You know, come in at a higher price than you actually want, bleat on about additional costs etc. then come down 50% cause you love em so much. People treat each other and others property better if they dont feel they are being screwed.

I know what you are thinking, and the answer is no

[David Hardman]

I just listed my 3 bedroom rental in Takapuna.

Was going to sell privately but it got to complicated cos I live in Sydney.

Been on the market for 10 days. No bites yet.

[ari]

I wish u luck David H and anyone else out there in this weak market, but be prepared for the pssible long haul. Today is day 281 for me and during that time Barfoot's had it for some 10 weeks with open homes most weekends....viewers, or should I say 'wall kickers' could be counted on one hand!

So here is a blatant ramp for my property......

http://www.trademe.co.nz/Trade-Me-Pr....htm?key=34535

[POSSUM THE CAT]

Well Ari it is obvious that it is still well overpriced

[ari]

Yep, you can certainly say that in a buyers market, although the front house (same designer) sold for $760K and the 1 house site next door sold for $580K

[David Hardman]

Please link your site listing?

Here you go

Been on the market a few weeks. In no hurry to sell.

http://www.harcourts.co.nz/listing/d...code&id=411756

[David Hardman]

I wish u luck David H and anyone else out there in this weak market, but be prepared for the pssible long haul. Today is day 281 for me and during that time Barfoot's had it for some 10 weeks with open homes most weekends....viewers, or should I say 'wall kickers' could be counted on one hand!

So here is a blatant ramp for my property......

http://www.trademe.co.nz/Trade-Me-Pr....htm?key=34535

Ari

My Grandmother just sold her house in Forrest Hill (Lyttleton Ave)

Was on the market for 2 weeks.. She had three contracts out within a week.

Was a big bit of land.. around 700sqm.. Developers probably picked it up.

[shane_m]

no offense, but for 710k (in northshore) you can buy a house in ellerslie close to city without needing to cross the bridge to get in and out of the city.