Hi John,

I recently inherited half of my mother's house in Dapto, Wollongong. I'm thinking of buying my brother's half and owning the house or selling it.

It's a simple 3 bedroom house, approx 50 years old, in good condition and conservatively valued at $285,000 based on comparable sales. An local agent thinks he can get around $310,000 for it.

I guess my question is whether it's really worth hanging onto a house in Dapto with such high unemployment and a bust council, as an investment. I can't see any real growth going on as it's too far south to be caught by Sydney overflow and all the big city increases going on. I wonder if I'd be better selling and putting the money into a fund for better returns?

Hi John,

We own a renovated three bedroom house on Scotland Island. We have a young family and find the travel to the main land most days difficult, so we currently have the house on the markert so that we can move to the mainland - hopefully Mona Vale area.

Our problem is that the house has been on the market for two years and still the property has not sold. It is listed with two of the small specialist local agents. Without wanting to critisize too heavily, I feel these agents virtually sit in their office waiting for the phone to ring without actively getting out there and trying to find a buyer for our home.

The house is not huge, but fully renovated and currently on the market for offers over $640K - not completely unrealistic, yet we still seem to be struggling to get interested buyers. Scotland Island is a specialty market, we know, but do you have any advice as to how we can move forward and find that right buyer????

Thanks in advance for your advise.

 

Hi John,

I've been searching for a new house for a few months now.

I have made several offers on properties, most recently one for $100K OVER the price guide. It was rejected. What is the purpose of the price guide if an offer 100K over the guide is not deemed good enough to secure a sale pre-auction?

I'm perplexed and wonder if your agents are under-quoting? Would love your feedback on this.

 

We really feel that we need to get into the market at some point just to secure our retirement and this I put to you, should we start building a portfolio of investment properties ie one bedroom flats and continue to rent on the lower north shore and enjoy the space of a home or should we continue to save and realistically we would have a deposit in about 3 - 4 years for something half decent for us to buy and live in! If you feel we should go the investment route are one or two bedrooms better to buy and which area in Sydney has growth. I was thinking west ryde, ryde as examples of these. If you could take the time to reply I would be most appreciative. Many thanks.

John,

With working hours in Sydney increasing and travel times to work also increasing I'm looking to purchase a property in close vacinity to Sydneys CBD . The areas that stick out to me for convenience are Newtown and Erskineville . These suburbs are considered by many to be quiet eccentric. What changes have you seen in these areas recently and are the demographics changing. Do you see value in these areas ?