Discussion in 'Real Estate' started by Simon Hampel, 16th Feb, 2009.
South Coast housing ripe for investment: analyst - ABC News (Australian Broadcasting Corporation)
LMAO... how can you say these two things in the same breath:
So let me get this right, prices of late have been are crashing at an annualised rate of 16%, but don't worry it's all sweet because there are tons of places you can buy!
Ahhh, it's always good to have a good laugh at the world before heading to bed.
Liquidity is king, particularly in tough times. My family have had several houses in the south coast and when it has come time to sell, it’s just very hard.
The comment re values up to $50k less than perceived values is interesting. We had valued a house at $550k and could not even get people to look at it for $495k. In the end we gave up and held on.
Book values, agent valuations etc have turned out to be pretty useless.
Nice place to live though...
If you drive around some of the coastal towns you will see plenty of properties with "for sale" signs. I guess its a bit tough to think about a sea change when your super has disappeared.
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