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Selling a property in Christchurch - advice on market
I'm not seeing your property on there, did it sell already?
Last I looked, chch properties are selling 6% above GV. Which is far cry from the ridiculous figures most listings have on them, I saw one last week 30% above GV. Even cheap units are usually $20-$40k above GV. There's some greedy buggers out there especially considering most opens homes are dead. Obviously they often don't sell for that.
So you probably shouldn't be dipping below your 510 GV at all. Assuming it's a new build though, and I think those in the linwood area are not in high demand. I haven't looked at many because I no interest in a new build, but I suspect they are selling cheaper than expected. But 410? Someone's getting that for a killing! I'd look at it for $410k for haha, pm me the listing/address?
Oh never mind found it now - they don't even have it listed on realestate.co.nz!!! I don't even use trademe normally. And no open home. So yeah, hmmm I don't know it seems like a pretty high GV, due to the large amount of land I guess, and I'm not big on lots of land, just a big waste unless you plan on plonking units on it.
Decent yield though, if both the flat and house are rented and $499k it's 7.2% approx, but then that's assuming you have the granny flat rented out and in a calming rental market in CHCH, it could become more of a hassle to rent out. I'm not sure I would want the hassle rented it.
It'll appeal more to live-in-owners than investors I think, because if the flat wasn't rented you'd be sitting on a rather weak 5.7% yield, and I don't think you'd be able to rent just the house for over $500pw as it is really close to Linwood Ave. It'll eventually sell though, you should get way more than $410k for it if you wait.
Looking at the competition, featured listings for 4+bd in Linwood you've got this almost brand new place for $455k:
Find your dream home in New Zealand with Trade Me. Browse our full range of NZ real estate listings to discover the perfect property for families, couples and s...
But half the land and I have no idea whre in Linwood that street is.
I like Linwood, have a few properties there. It's such a spreadout suburb though . I don't really like the area in the eastern part. as for the agent, change agent... would love to know who they are ^^
Quote:
"Hi Orkibi, answers in red italics below, thanks"
Hi judos
I saw Orkbi's reply and your response and wondered why so many questions to your post initially. Seems Orkibi has own issues to deal with - not yours.
I agree with Charlotte and Jimo. Alternatively, you could challenge them, ask them for current stats and unless they can justify their claim, ditch them.
I found Joe Laing at Mike Pero to be fantastic to deal with when I was selling my Richmond, Christchurch unit last year. He brought me a generous offer from an investor without even marketing the property. Mike Pero's commission fees are also cheaper than most, but not so cheap that they don't put any effort in....
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