Good question, I asked 3 agents to value it, all came in similar. I looked on the net for a few months which had the same properties listed month after month at around $20k dearer than mine. I wanted to meet the market, not cross my fingers hoping for the right buyer. I asked myself If Brisbane was to kick, where do I think it would be and I couldn't see more than 2-3% growth short term (12 months), but if it drops, where do I see it dropping to? I thought another 8% over 12mths is not out of the question.- I don't think it will see falls like that, but my crystal ball is not working at present, so I am erring on the side of caution. I still have other property that I will hold in case it rises, but I really just want some eggs out of that basket. I recently bought a motel, very early days, but it is yeilding exeptionly well and I would like to pursue another one. So sell two property's. I figure I can buy back in any time, if growth returns-I think growth if any will be slow. Like any investor, I am not emotionly attached and can exit in and out of investments depending on my circumstances and change as other oppurtunities arise. I believe every investor takes losses at different times if it means exiting one for a better oppurtunity that will quickly make up the loss. Even share traders will exit one position today to enter another. I think there are some great residential oppurtunities in the market right now even, but for me it is a decision to exit one investment vehicle to enter another, it's just a shame to take a loss.
