Forum Replies Created
the authors of that article and this article should get together:
http://www.theaustralian.news.com.au/common/story_page/0,5744,15052432%255E25658,00.html
http://www.megainvestments.com.auExtensive list of ‘Off The Plan’ property available for sale in Perth.
John – 0419 198 856
maybe he’s telling the truth? either way it’s irrelevant to you…. don’t be rushed, do what’s right for you. there will be other properties.
http://www.megainvestments.com.auExtensive list of ‘Off The Plan’ property available for sale in Perth.
John – 0419 198 856
Labor has never been a friend of business so it isn’t really a surprise. What is surprising is that Labor was voted back in in WA even after bashing us senseless with tax rises. And then under pressure from Costello to stop double taxing us Gallop has the nerve to speak on our behalf and say ‘WA will not bullied into this and that blah blah blah’. More like Labor won’t be! To be fair the federal tax system doesn’t help developers either – it is very difficult to actually turn a profit with such hefty tax rates (the combination of GST and tax).
you would think we would support an entrepreneur such as Len, seems a shame that the govt has clobbered another business man into jelly
http://www.megainvestments.com.auExtensive list of ‘Off The Plan’ property available for sale in Perth.
John – 0419 198 856
an interesting mix of causes and symptoms you have listed there. I note the generous increases in personal tax rate scales which didn’t really create much of a stir – I was quite surprised to see the current and new scales.
I agree it could be different this time. just as it was in the great depression when guys were jumping out of the windows (they probably weren’t interested in the historical growth rate of stocks at that time!). is a big call to declare we are in a bubble though. the market could collpase, it might boom, it may tick along – I could find stats to argue any of it. on a simplistic analysis you could say that Sydney has had a boom and now it’s time to sell. you need to factor in transaction costs of course. and if you want to hold a position in the market you will need to be able to pick the bottom again – not an easy task. all depends on the strategy you are following.
interesting to read that Len Buckeridge is going to keep his 800 or so properties even after he quits Oz. these old timers sure got it right!
http://www.megainvestments.com.auExtensive list of ‘Off The Plan’ property available for sale in Perth.
John – 0419 198 856
Originally posted by dmichie:Yes AUSPROP house prices never fall do they, except ummm Japan, and the UK, and …
You guys really do remind me of the dot com spin merchants of the late 1990s … “there’s no bubble because this is the ‘new economy’, old rules about fundamentals no longer apply”
interesting spin on things…. yours sounds like a a reverse “it’s different this time argument”, fight fire wih fire approach…”yes property has risen throughout history, but this time it’s different, its a bubble, its oil, its the US conspiracy, its consumer debt, its inflation, technology has eroded the need to live close to the city etc”. But don’t lump me inot the box labelled ‘property always goes up’. There was some craziness in the late 80’s as I vaguely recall and there is always a risk of something crazy happening again. But I don’t avoid the beach for fear of a tsunami if you see my point.
http://www.megainvestments.com.auExtensive list of ‘Off The Plan’ property available for sale in Perth.
John – 0419 198 856
some interesting comments re The Economist article:
http://www.somersoft.com/forums/showthread.php?t=20441
http://www.megainvestments.com.auExtensive list of ‘Off The Plan’ property available for sale in Perth.
John – 0419 198 856
get into Perth – we are still well off hitting the top
http://www.megainvestments.com.auExtensive list of ‘Off The Plan’ property available for sale in Perth.
John – 0419 198 856
they claim to have positive cash flow real estate but when i looked at the numbers I just couldn’t see it… bearing in mind I know exactly where some of the stock is. I think CF+ is so trendy now that everyone is trying to get on the band wagon
http://www.megainvestments.com.auExtensive list of ‘Off The Plan’ property available for sale in Perth.
John – 0419 198 856
Oh yes I see. thats not whopping, its idiotic. i would like to see this survey – who did it, the sample size, the survey questions etc.
http://www.megainvestments.com.auExtensive list of ‘Off The Plan’ property available for sale in Perth.
John – 0419 198 856
10 years for 22%… hardly whopping! I’d be looking for 100% in 10 years.
http://www.megainvestments.com.auExtensive list of ‘Off The Plan’ property available for sale in Perth.
John – 0419 198 856
how strange – I was sure I read only recently on the ATO website that they had changed from number of days to a valuation method…. but now I can’t find it. Sorry for the red herring – it does appear to be the number of days method thatis used.
http://www.megainvestments.com.auExtensive list of ‘Off The Plan’ property available for sale in Perth.
John – 0419 198 856
I still maintain that if the cost of your agent is the only concern then go with the cheapest one of all – yourself. You would probably do better than a bad agent and you will save money.
http://www.megainvestments.com.auExtensive list of ‘Off The Plan’ property available for sale in Perth.
John – 0419 198 856
just be aware that the Club isn’t actually a club, it is a marketing company… which you can’t really join like your local Tennis Club.
http://www.megainvestments.com.auExtensive list of ‘Off The Plan’ property available for sale in Perth.
John – 0419 198 856
“but no one at the building company seems to know”
sorry natwayne but I have to laugh – I have been going thru the very same thing. I suspect that the contract is so loaded in their favour that they never have to pay penalties hence no one has had to work out when that time was up! my good friend who has plenty of time and is completely anal did manage to get the $20 a day out of them though!
http://www.megainvestments.com.auExtensive list of ‘Off The Plan’ property available for sale in Perth.
John – 0419 198 856
12 months doesn’t sound too crazy, their are always situations that will be give or take 4 months. Having said that, I don’t know of any reps that are openly admitting that their company has no hope of building what they are selling, so it could be worth digging around a bit. it would be good to somehow speak to some of their cliemts – maybe drive around an estate, grab the address of a few homes that look like they could be dragging and ask Ventura if you can speak to the owners for a reference.
http://www.megainvestments.com.auExtensive list of ‘Off The Plan’ property available for sale in Perth.
John – 0419 198 856
Originally posted by robo:I agree, commission rates are over the top and with a bouyant market, some of them have really done well.
Thats an understatement, what business do you know of that can double their income in a short time by pretty much not doing anything extra like advertizing or extra work. Like REA have in the last 2 years. AS far as reducing their commission, wouldn’t they put your home on the bottom of their list and sell the one with full commision?
Robomortgage brokers. builders. governement/council tax collectors. settlement agents.
http://www.megainvestments.com.auExtensive list of ‘Off The Plan’ property available for sale in Perth.
John – 0419 198 856
Originally posted by wayneL:Originally posted by AUSPROP:the building price would be around 40% higher than what i signed up for.
Holy Crap!
Didn’t know it was happening to that extent! I’ll have to get out of my cave more often!
Did Buckeridge ever set up that brick plant?
yeh compound 1% a month for a couple of years and you will be surprised what it comes out at! a friend was day late returning paperwork with their builder a few weeks back, so they kindly applied a $7500 price rise.
Buckeridge is still fighting for his brickworks. gotta admire the guy. he will be even grumpier after the govt knocked back his plans again to build a new port. apparantly there is another new port being built in the form of a new island just off of fremantle and it overlapped his proposed port.
Marisa – with Ventura home is that what they are saying or a fact that you are aware of? I am just asking as it surprises me… I have heard battle stories there. I am finding that half the problem is getting through the paperwork in the builders office… and of course anything before signing the contract isn’t included in their ‘building times’. We have worked with our builders to stream line processes there to eliminate these problems, unfortunately there is little we can do about the construction time frame (short of picking up a hammer!)
http://www.megainvestments.com.auExtensive list of ‘Off The Plan’ property available for sale in Perth.
John – 0419 198 856
hi Terryw – I would be interested to hear who that is. I know Postive Real Estate promote some properties very heavily on the basis of being CF+ but when you look athe numbers I really don’t know how they can make that claim… most of them just appear to be typical negative geared style properties. I was curious as I know richmastery who they are tied up with work on a fee basis as well.
http://www.megainvestments.com.auExtensive list of ‘Off The Plan’ property available for sale in Perth.
John – 0419 198 856
Terry – not sure how to elaborate… BGC are basically so snowed under that a typical house is taking 12 to 24 months to build. their order book is so bloated that if they stopped selling homes, some say it would take 2 years for them before they could clear some of their back log and get their house in order. Their prices are very competitive though – unfortunatley they have a problem in delivering. Example – a house i have, bought the block Sept 2003, house was drawn up by builder soon after, title issued April 2004, building licence applied for then contract ready July 2004 and signed immediately, sat there until December 2004, various promises to make a start, slab finally down January 2005, supervisor left company and job was left in limbo for 6 weeks until I asked what was going on, then advised there would be a 3 month wait for roof tiles, switched to different product, roof timbers now going up. The only good news is that the building price would be around 40% higher than what i signed up for. I am hoping to have it finished this year but who knows.
One of Len Buckeridges building arms did close up their display homes for a while and I think Ross North closed their doors for a while too as they only build up to 600 homes a year I think they said the other day. They say they can build in 9 months – there are a few builders that can deliver in this time frame.
http://www.megainvestments.com.auExtensive list of ‘Off The Plan’ property available for sale in Perth.
John – 0419 198 856
yes I know a guy who is with a leading WA builder and sales last month were well down for them. We also have noted a bit of change in attitude from a couple of builders so this could be the turn we have been looking for, although someone told me yesterday that if BGC stopped selling homes completely it would take them 2 years to get on top of the situation!
yes costs are still rising and I personally don’t see any good news in this regard.
http://www.megainvestments.com.auExtensive list of ‘Off The Plan’ property available for sale in Perth.
John – 0419 198 856
