Sunday, 31 January 2010

[Others.048] Matt's house sold! Congratulation!

Have been following Matt's blog for a while and saw this post from his blog today that's his house was sold after only on the market for 6 days! That's really excellent and congratulation to Matt!!

Did a quick search on the net and found the house as below, with details removed to protect his privacy. A very nice house as you can see from the photos...

The best part is the timing, Matt must have a crystal ball or something to be able to time everything so perfectly.

First we all heard that in 2009 house price in Australia posted 12.1 per cent rise overall for the year (e.g. here, here, and here).

Then there's also quite a lot of reports in past weeks (e.g. here, here, and here) all pointing to almost 99.9% certainty that the Reserve Bank is going to raise the official interest rate next Tuesday. Most people are expecting the property boom to start slowing down a bit.

It would be really difficult to sell a house at such a perfect timing -- almost the peak of the property cycle.

As for us, we're definitely not thinking of selling our house at this stage. After all the effort in past 2 years, we would like to enjoy it a lot longer...

Chat with family about if we should consider selling if the property price doubles in X years time? Urh..... I think we would still prefer to hold it, but borrow against the equity or something like that and then look at other opportunities... The cost for selling and then buy/build another one is just too high in Australia...

No comments: