have u still got your head in the sand, page-45

Attended the auction of a family friend selling his IP in Berwick 40k SE/melb.

Nice place. 3 bed DS townhouse/more like 2 and a study in a block of 6. Sold in 2008 for $375k and again in 2010 for $420k. Been renting it for $390pw.

Agent was qouting $470k. No bidders and passed in on a single vendors bid of $490k.

Gobsmacked. Is it any wonder the median price has held firm and clearance rates remain low. Unrealistic expectations.

The market's come off 10% since 2010 and he wants 15% more than what he paid for it.

http://www.realestate.com.au/property-townhouse-vic-berwick-110148533