Forum Replies Created
are prices really falling in Syd / Melb? Perth is still rising strongly and is expected to continue for some time. I would be interested to see some factual data on the east coast declines.
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
“Hmmmmm…don’t you think that is exactly what has been happening ????”
yes I think it is but I think this is the thin end of the wedge – there are still too many people starting to think about investing for a prolonged crash to occur (IMO). – not ruling out some market stagnation tho.
Salubrious – no probs. all entitled to our own thoughts, its our free democratic right as americans [biggrin]
my problem is that people have been saing this for a few years now. the choice is either to go for it or sit back and do nothing. A few years ago I sold property to wait for the supposed plum opportunities that were about to present themselves – talk about regret! Timing the market is a mugs game. This is what the baby boomers are up against – just as Kiyosaki has predicted with his Prophecy book. there may well be a huge investment boom as the boomers have no other option, they don’t have the luxury of time to sit back and do nothing.
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
I would also suggest Richard Lambe of Mercia Taxation, also based in Subi
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
well proof is always in the pudding… coke, mcdonalds, kfc, subway, colgate, palmolive, ford, gmh, dell, microsoft, the internet… i dont see any of these being unpatronised or going broke. Everyone is happy to accept the benefits from the US (including saving our butts back in the 40’s, but hey what’s loyalty?). Blowing up kids, i assume this is some reference to Iraq but this is the wrong forum and i dont want to get into a debate that bashes the US just because its the trendy thing to do. the way people go on you would think we had all sold our cars and joined greenpeace.
in all this discussion, it’s worth remembering that home ownership tends to be a peculiarly Aussie obsession, as opposed to countries like Germany where the thought of it doesn’t enter many peoples heads and they are quite happy to secure a lease for many years (this is according to a program I saw once on the BBC). Is the constant support by the government for first home owners really a misallocation of our tax dollars? There must eventually become a disconnect between house prices and wages due to the geared nature of it. A person on $40,000 getting a 3% annual wage increase just cannot keep up with a $300,000 house doubling every 7 years.
this bashing of consumerism is all a bit ho-hum. The worlds biggest consumer economy, the US, is always sledged as being some greedy giant, yet it is the standard to which all nations aspire. We all want designer labels, flash cars, nice houses. If you want to be a hippy and carve wood branches in the bush go for it… the main stream will continue on and evolve the human species with it. Greed drives the search for cures to disease, increase food production etc. It is not perfect, but beats the medieval ages hands down. We need to accept this framework and work within it to achieve the best result individually. This extends to not blaming everyone but yourself if you wish to run up a $5000 mobile phone bill, lease a new car, go on a holiday or whatever.
When owners of development sites will only sell if they get a premium that includes a slice of the developers margin – without the risk! (I can think of a few guys that really should have taken offers last year!)
Interesting opinion near the front of the current API mag… P11 and P12. The summary is “The investors who have been quietly building their portfolio over the next few years when property is out of fashion will enter the next boom phase with a large portfolio of properties. They’ll watch with delight as high capital growth rates kick in across their already large portfolio, creating a new round of financially independent Australians. Their friends, who followed the herd and only chose to invest in property when was the in thing during heated booms, will enter the next boom owning very few properties. And they’ll wonder how they missed the boat.”
What a great comment!
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
not to mention GST – applicable to vacant land
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
are you joint tenants or tenants in common? make sure you appreciate the difference.
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
it’s all about perception… I went to the shops for the first time in ages last Saturday – OMG! people were in a consumption frenzy – cars dumped all over the pavement, couldn’t get to counters… it felt like Christmas. it sure feels like boom times to me.
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
Not only official Buyer’s Agents can act on your behalf… if you strike a rapport with a particular agent that you think is really worthwhile, consider employing them as your buyer’s agent.
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
Falcon – there is an extremely good argument for spreading your portfolio around the country. It lowers your land tax as you say, plus it diversifies your exposure to different markets. Just please do your homework and don’t get ripped off like so many people have been (and continue to?) investing in units up in the likes of Queensland at well above true market value… do your Due Diligence!
Yes but it doesn’t matter how well prepared you are or what you do – we are all apart of this economy and if there is a major credit squeeze and we are plunged into recession (or dare I utter depression) then we will all suffer. You can lie awake at night worrying about this or cross your fingers and go for it. The alternative is to try changing things – but this is much bigger than what any one person can influence.
the crux of all this is that a vluation is just an opinion. no one has a crystal ball so the only true way to test it’s value is to sell it!
a lot of this discussion seems geared to bigger projects than a backyard devy, but with regards to:
“The land component often requires the most negotiation. For example, avoid committing financially until your sales target is reached and secured.”
….not sure if it eludes to the developer walking away from the whole deal if the targets aren’t met, but if you are buying OTP please make sure the developer is actually committed to the project and not just sitting back and hoping to make the sales. I do not market projects that our developers have not received full DA for and are actually committed to (either outright ownership or unconditional contract to purchase at some point in time) – it just causes too many headaches and really lets the buyers down.
On the development side, don’t forget to consider the GST and income tax implications applicable to the profits on the two that you sell. When considering what to build, give some thought to why someone would want to buy yours OTP rather than just buy an exisiting one next door. Usually it comes down to a unique point of difference e.g ocean views, or a very attractive price point.
well it’s a bit like sitting around debating if you will die tomorrow. who knows? just keep pressing on in case you don’t
my geuss is the owner crunched the agent on rates – doesnt take long to blow your commission when the listing is 80kms away. this seems an unfortunate symptom of ‘getting what you pay for’, or could after all just be laziness!!!
Extensive list of new Perth property available for sale.Alternatively, become a joint venture partner in one of our property development partnerships – contact me to find out why our developments are unique. John – 0419 198 856
boom or bust is anyone’s guess, but let’s not forget market fundamentals such as the very real and quickly aging population – was only reading a couple of days ago about how diverse suburbs will fare better in the future than the traditional 1/4 acre block suburbs as the ‘oldies’ want to live closer to their children but don’t want to live in a huge house. The value of medium density housing is still under rated in my opinion – certainly in comparison to it’s development cost. The emerging boomers are putting more emphasis on location and lifestyle than large tracts of land and hence are paying a fortune for high building component properties. In economics speak, I believe there is/will be a shift in the demand curve – just one point to consider.
Extensive list of new Perth property available for sale.Alternatively, become a joint venture partner in one of our property development partnerships – contact me to find out why our developments are unique. John – 0419 198 856
last year we got massive slugs in stamp duty. this year it came back a little. wonder why – oh that’s right… labor govt in election mode. good grief, spare us all.
