My person opinion is sell if it is in a low growth area especially if your property is not unique in some way. I sold my property in a major Aus city 3 months ago (only got half but that's another story).
I got a real good price BUT the market was getting tougher week by week it was obvious to see. I had something quite special. Don't believe the real estate bull dust you hear in the media.
And for goodness sake don't touch'e the concrete box cookie clutter apartments that are not special. They are absolutely rubbish built and despite what you hear in the media are coming into oversupply. Many will cost's tens of thousands to fix. I am in this industry so know first hand.
Many people make the mistake of thinking a large amount of money going into an investment type shows the underlying fundamental's are strong, or they can ignore the warning signs. Now is the time to be very selective in what you purchase in shares or property.
Anyway I could buy another property tomorrow but I'm cashed up even though interest rates are crap. I'm normally a very positive investor but here in Aus there are just too many signs all isn't well. Good to see you developer mate is doing well. A lot of the guys that have been at it for a long time and successful have cashed up or are in the process of getting out and sitting on the sidelines. I'm not talking about the likes of Mirvac they are sound and do pretty ok stuff.
There are going to be some discounted development sites for sale soon.
So I'm saying at least if you cash up its a long way into a boom and I just don't see the further possible gains been worth the risk.
Things will change for the better, its just a point in the cycle we are in.
Another thing to consider is the peace of mind that comes to having cash in the bank and no debt in times like this.
I got a real good price BUT the market was getting tougher week by week it was obvious to see. I had something quite special. Don't believe the real estate bull dust you hear in the media.
And for goodness sake don't touch'e the concrete box cookie clutter apartments that are not special. They are absolutely rubbish built and despite what you hear in the media are coming into oversupply. Many will cost's tens of thousands to fix. I am in this industry so know first hand.
Many people make the mistake of thinking a large amount of money going into an investment type shows the underlying fundamental's are strong, or they can ignore the warning signs. Now is the time to be very selective in what you purchase in shares or property.
Anyway I could buy another property tomorrow but I'm cashed up even though interest rates are crap. I'm normally a very positive investor but here in Aus there are just too many signs all isn't well. Good to see you developer mate is doing well. A lot of the guys that have been at it for a long time and successful have cashed up or are in the process of getting out and sitting on the sidelines. I'm not talking about the likes of Mirvac they are sound and do pretty ok stuff.
There are going to be some discounted development sites for sale soon.
So I'm saying at least if you cash up its a long way into a boom and I just don't see the further possible gains been worth the risk.
Things will change for the better, its just a point in the cycle we are in.
Another thing to consider is the peace of mind that comes to having cash in the bank and no debt in times like this.