Hi all,
I’m not in a rush, but how long would you wait before selling a potential wrap house (specifically bought for that purpose) if you can’t find a wrapee?
I’m just asking out of interest as I realise this is one of the risks you take with a wrap purchase.
What is the longest any of you have waited for a wrapee and what have you done in the mean time to make sure your bills are being paid? If you’ve sold the house have you done any improvements to it, similar to a reno job?I’m just curious.
Sooshie [
]It’s all our imperfections that make us perfect!
Wow! Just had a spin on the computer and thought I was lost out of this site for a while, but I’m back [:0)] !
Edited by – [email protected] on 20/11/2002 12:17:00 PM
Hi Sooshie
I guess it all comes down to holding costs – if you can afford to keep paying the mortgage while you wait for a buyer, you can hang on indefinitely I guess.
But there has to come a point where you ask the question WHY isn’t this house selling?
Is it the house that’s the problem? ie are people coming to look at the house, like the wrap concept but not the house
Is if a lack of interest generally in the area?
Is it the advertising?
Unfortunately it’s not always easy to know what’s causing the problem specfically, but you should be able to get a general idea of where the process is breaking down. If you get no calls from your ad – it’s either the ad or no interest in the area (in which case do you know if other wrappers are selling houses in your area)
If people respond to the ad but don’t want to see inside the house after driving by – street appeal issue perhaps
If people respond to the ad but don’t sound convinced – you might need to work on how you talk to them.
If people want to see inside the house and like the concept but then change their minds – does the carpet need replacing?
I’m waffling a bit, but I’m trying to give you some ideas.Keep smiling
FelicityThanks Felicity [
]I didn’t think you were waffling but I did think you have some good points.
I think the area it’s in is going slow at the moment. I’m just not sure whether to spend about 5k doing it up as a reno and then trying to wrap or just biding time until a fishy comes along and takes the bait.Cheers
Soosh [
]There are no problems, only solutions
Hi there,
Are people in Vic still getting good responses from their advertising or is it a little slow at present?
I was wondering if the correlation of X-Mas has anything to do with the slow down. I noticed talking to some real estate agents that things are slowing down getting closer to holiday period and I wanted to check if the same trend applies to applications for wrappees?Just curious
Have a great weekend!
Sooshie [
]There are no problems, only solutions!
Hi Sooshie
I have to say that responses to my ads are WAY down in the last two weeks, only had 3 calls last week and none this week (so far). Normally I get between 5 and 10.
I’ve also noticed that houses aren’t selling. For the last couple of months I’ve barely had anything on my list, there either hasn’t been properties or they’ve been snapped up so quickly. Now I’ve noticed that the length of my list is gradually getting longer again.
I don’t know if it’s just christmas or the market generally, but I have noticed a distinct change in my area in the last month.Keep smiling
FelicityHi Felicity,
Your not the only one apparently…like with everything in life..the rollacoaster syndrome applies…
Thanks for your link in tax deductions…
Cheers
Sooshie [
]There are no problems, only solutions!
Hi again
Had a conversation with a property manager in the area of my wrap houses, as I wanted to find out whether renting the one that’s not moving might be an option.
She told me to do it NOW (like in the next few days) otherwise I can probably forget it until mid January. That’s because anyone giving notice on their lease now will have to move in 1 month’s time – guess what – it’s Christmas!
That’s a doomsday view, certainly, but there’s a lot of logic to what she’s saying.Keep smiling
FelicityHi Felicity,
I guess you could always have a short term lease…or you never know but the people wanting to rent it, may actually be potential wrappees..
Oh well its worth a try…otherwise your carrying the mortage on your own back..It’s probably a tax deduction (as a loss of income) but I’m not sure.
Hope the phones pick up soon
cheers
Sooshie [
]There are no problems, only solutions!
]
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