Geoff & Margaret Clifton

[Geoff Clifton]

Hi Friends.

Two new forums eh?
I've joined both and will stick my nose in for a while. It'll be interesting to see if one becomes the stronger. Happy travels. We are free again. Tenants moving in on Jan 1st

[norman]

You stuttered Geoff so i fixed it...

[T1 Terry]

Afternoon Geoff & Margaret, nice of you to drop by So now the house is no longer on the market there will be Chinese buyers with fists full of money flying over personally in an attempt to out bid each other Crap time to be trying to sell a house at the moment unless you are desperate and willing to take a huge loss. The market will come back, it always does, you can sell then and have a life while you are waiting, problem is poor Margaret is going to have you under her feet again
Are you dropping by for a christmas cup of coffee or something anytime soon?

T1 Terry

[BruceS]

Hi Geoff.
I think there's probably a need for both if each one has it's own flavour.
Welcome!

[Dot]

Hi Geoff & Margaret, where are you off to first and where do you intend to go? Had a chat re your idea of selling little place ourselves but time is the thing for us right now.. Sacking the out of contract lot tonight, they haven't even rang once in 4 mths with any info good or bad.. Oh well..

[Geoff Clifton]

I'll call in IF you answer the phone T1, check missed calls from yesterday

Dot there is another way I've had to look at the house scenario. As said, the market is crap and you'll cop a low price. That's OK if you immediately buy another place for a crap price but not if you want the cash. For us the house is an all the eggs in one basket super plan. I was intending to spend half on another place to live plus some toys and invest the balance. Problem is cash deposits are in the 4%'s and going down. The restored house is getting over 3% return in rent based on it's value and I keep the house so it makes sense to sit tight until the property market goes up again or cash deposit rates get over 7%.

The silly thing is that right now is one of the best times to buy property. Low prices and low interest rates but low confidence levels have the market strangled. We may look at selling our parking spot and taking a small mortgage to upgrade that and sit tight for a few years. But I had been so looking forward to buying a few new toys, they'll just have to be little ones.

[BruceS]

Hi Geoff. Isn't it always a difficult decision?
I had a small farm that was labour intensive. (shifting irrigation pipes, making hay, carting hay etc)
I did my back in and had to pay for labour at times because of it.
Interest rates (earning) went up to around 15-16% so I sold out & thought I was 'sitting pretty' living of invested money till the rates took a dive.
Don't you get sick of those in power saying how good it is with interest rates so low?
On the otherhand I guess while they are low out beer won't go up too much!! (and other essentials)

[Dot]

Geoff, agree with everything you have said but we are between a rock and a very hard place.. I would love to keep the little cottage but we had to put the old girls funeral on my credit card and so forth..