Sunday, February 13, 2011
Shaky start to the year
The start of 2011 has been an interesting time, with floods and cyclones, the housing market is looking a bit worse for wear. What will this mean for property prices for this year, after all, 2011 is supposed to be the "recovery" year many were predicting, finally getting out of the shadow of the 2008 GFC.
Melinda and I are in the process of finally selling our biggest cost investment property, a 3 bedroom brick home in Ferny Hills in Brisbane. For the first time, we have tried an open listing and currently have three agents on the case, two of them very actively trying to sell it. Strangely enough, of all the properties we have on the market, this one has attracted the most interest and it looks like an open listing is going to sell it. Yes there has been some communication issues and I'm sure the tenant is feeling hassled by all the open homes they keep requesting, but it's working, we should have a sale soon. It helps that it's priced right.
I also wanted to let you know I have taken the big step of setting up a trust, a family discretionary trust to be exact. Why it has taken so long is a bit of a puzzle, but for a couple of hundred bucks, we are finally learning to "set up structures" that should benefit us come tax time. Trusts such as this allow flexibility and really, I should have done this sooner.
That is all for now, I keep saying I will try to post more frequently, it's just that life is getting busier and busier as the days go on. Oh I almost forgot to ad, I have a new job and we have moved back down to the south-east; opportunities await.