Forum Replies Created
You say the property you settled on last week for $700k is now worth 1 mill, based on what??? Its worth what you sell it for. If you can turn around and sell it today or tomorrow or even by the end of the month for 1 mill then I stand corrected. But it amazes me how people have the preconcieved idea of ‘worth’ an item be it property, cars or even stock doesnt really have its value or ‘worth’ realised till its sold.
Ive have had banks value properties for far more than they could actually be sold for, which is great for everyone till the <edited>e hiteth the faneth. The bank gets their sale, I get my loan and more property, but when things turn pear shape (and they will-fact of life) there is going to be some huge losses to be had (not in my case because I always alow a great margin of error, a LOT of people dont though)……
My point I was making is things are going to get worse before they get better, for the sake of 6-12 months I ‘think’ that property will be cheaper than now.
Originally posted by blogs:Originally posted by foundation:In my opinion there are always buy opportunities in the sharemarket, you just have to buy on value in sectors that are about to ‘take off’… [blink] Now where have I heard that before?
GDR +4.88%
OSH +1.66%
ROC +4.99%Oh, and that’s just today’s gains…
Maybe I’m just a lucky stock-picker?F.[cowboy2]
***DELETED***
Seems the aurhor is not sure of Foundation’s abilities and has asked for proof whereby Foundation predicts tomorrows gains. I am sure we would all enjoy that test however I don’t expect anyone to perform under those conditions!
Please post in a more considerate manner in future.
Kindest regards,
Simon
You have got to be joking?? Whats so inconsiderate about asking someone to back up their statements?? He is bragging about how easy it is to make gains on the stockmarket, all I was doing was asking for some proof. As I said in my original email (still cant work out why it was deleted???) if it is so easy then how bout some tips??[thumbsdownanim If this is inconsiderate then maybe you should PM me to elaborate??
Originally posted by foundation:In my opinion there are always buy opportunities in the sharemarket, you just have to buy on value in sectors that are about to ‘take off’… [blink] Now where have I heard that before?
GDR +4.88%
OSH +1.66%
ROC +4.99%Oh, and that’s just today’s gains…
Maybe I’m just a lucky stock-picker?F.[cowboy2]
***DELETED***
Seems the aurhor is not sure of Foundation’s abilities and has asked for proof whereby Foundation predicts tomorrows gains. I am sure we would all enjoy that test however I don’t expect anyone to perform under those conditions!
Please post in a more considerate manner in future.
Kindest regards,
Simon
Michael….spoken like a true salesman[angry2]
Why wait a little and save 10% when you can buy at peak, because as we all know property is selling like hotcakes and if you dont get in quick there wont be any left right[biggrin]
12 months seems to be the norm over here as well. I cant for the life of me work out why they take so long??
This is the one by the rich dad poor dad bloke?
Well done mate,
Its just a shame that we cant expect to see the same returns over the next 10 years IMHO. I seriously doubt there is much room left. Someone please correct me if Im wrong, but unless there is some major inflation which will = increase rates we are in for a very flat period…
Undervalued…..based on what???
Remember value has nothing to do with what someone DID PAY, it is dependant on what you can sell it for. So if you cant sell it as the price you want then its not undervalued is it, its worth what he market dictates…….
geez mate how longs a piece of string!! Who would have guessed that the government would come outwith a first home owners grant in combination with a low interestrate. There are soooooooooo many factors that can affect realestate and finance as a whole. If it was easy then everyone would be rich…
Originally posted by The Wild OneFor 7 years I was a mess.I had to make sure everything was ‘perfect’.
I was a pay check away from not paying my rent.
What a crock of <edited>e-you were so ‘perfect’ that you were so broke that you were living from paycheck to paycheck[hmm]
And then you give the rediculous advice to ‘just do it’….well I tell you what-ALOT of people are gunna be feeling ALOT of pain from just jumping in and buying property in a get rich hope.
The reality is that the property boom is OVER.It goes in cycles and we are on the downward slope of the peak, guess what people-you are to late!!!!! The money has already been made!!!If you were serious about wanting to make money from property you wouldnt be buying at the peak price would you[laughing]
You would be waiting for the economy to turn a little wayward. When this happens all these backyard dreamers are going to realise they are in deep doo doo and will HAVE to sell. Surely you must realise thathere are soooooo many people who cant even afford a 2% increase in interest rates, let alone a 6-8% increase (what you think interest rates will stay low forever bwhahahahaha) So Joe Shmoo realise his get rich quick aint guna work and has to sell. Guess what though-everyone else is thinking the same. They then realise they cant sell, so will have to drop the price.
This is when the ‘real’ investors would come in. Everything else is just dreamers trying to get in on the next get rich quick fad[jealous]
Think about it this way-in the stock market is it the people buying at the top, or selling at the top who are making the money[lmao]
Dont mean to rain on your parade mate but Im trying to work out how you plan to affor this property if you couldnt afford the deposit? Do you have other funds/contingincy plans should you loose your job, interest rates go up etc??.
We have always invested so that we have enough saved to account for a year of repayments should anything happen. Might be ultra conservative but?
Thanks Rick,
But my concern is what is he trying to hide? Surely if everything was above board any reasonable person wouldnt have a problem with an inspection. A lot can be hidden behind plaster-for example insulation (or lack thereof). The appartment is adjoined to two others, he quoted us over two grand to upgrade the insulation for a higher sound rating!!!! He obviously thought we were mugs, anyway long story short we got him to fix the quote (which was still way over priced) to something a little more realistic. But without an inspector how are we to know if he even puts in the insulation?? For all we know he could just be getting some easy cash….
Why do people have to be so dodgy???
You have a nice day to
No bite though-just some simple opinion. And in my opinion places like Bacchus Marsh WILL be the major growth areas of the future. Stop thinking like a sheep-the people who make the most money arnt the ones who do what everyone else is doing, they are the ones with the vision and forsight.
Think about it-if you were cashed up with a family, had a lazy mill to spend on a house whatwould you prefer-a small block in the mass of suburbia with a 1 hr drive in the south eastern car park, or a big block with a big house with a pool/tennis court etc, country lifestyle, plenty of parks etc, safe and low crime AND closer to the city (timewise) then GlenWaverley……
I know where I would be going. And why in the hell would ANYONE want to go to Bendigo??? sheeshhhh
Originally posted by lifeX:And for the record (ho hum), a block that could fit a tennis court and a pool in Glen Waverley would easily be converted into a 6+ 3br Townhouse site and sell for $450,000 a pop. I doubt this would be standard in Bacchus Marsh.
Lifexperience
ho hum….gee if its so simple then I suppose you must be a multi multi millionaire huh[sleepy2] But I suppose if someone could find the money to buy said house with tenis court and swimming pool in Glen Waverley for 900k (actually it would easily be over that amount), then be able to afford to bulldoze house, tennis court and swimming pool, then get approval for townhouses, then get the finance to build the townhouses I suppose it would almost work out the same as buying a block in Bacchus Marsh for a fith of the price, getting an easy approval, building 5 units for a fraction of the price and then selling each for $350k…..
Thanks for the reply VERY VERY much appreciated!!! Yes a solicitor looked at the contract and didnt raise any concerns. This ownership/inspection thing just totally caught me off gaurd though-I never for a second thought I would have a problem getting a building inspector in to have a look, it makes me scared as to what the builder is trying to hide?? But then everyone I talk to says ‘dont upset the builder or you will be up for more greif'[angry2]
I suppose I should call my solictitor and clarifythe contract and take it from there?
Does anyone know anything about anything?? Or are we all as clueless as each other??
Originally posted by lifeX:Glen Waverley is usually 25 mins to city via S.E Fwy. Has a very good quality Public High School, Cafes, Many Parks, Shopping Centre and a lovely train line. It also has a booming asian immigration population. The median house price here is a lot less than $900k………blogs, where on earth did you get all of this bogus info?????????????
Yadeh, I would be looking at Bendigo. I heard that they may be entering a gold rush!
Live, Learn and GrowLifexperience
25 mins?? what on a Sunday morning? Try doing that run on any workday!!! Sure its close to the city but not when you are travelling at 2km/h!! I have lived in Glen Waverley for the last 6 years. Where did I say 900k was the median house price?? I was using that as a comparrisson to Bacchus Marsh-to get a house with a swimming pool and tennis court in Glen waverley you would be easily looking at 900k plus where as in Bacchus Marsh it would be considerably cheaper. About the onlything going for Glen Waverley is Wesly college, other than that its just a mass of suberbia…and hence my question-whats the attraction? Yes it does have a massive asian population…and??? all this means is that there are 30 restaurants, of which 28 only serve dam fried rice[hmm]
Anyone??? [strum]
Thanks, how about the stamp duty prob? will I still save it even though ownership isnt transfered till the settlement??
Bump…please some help/opinions???[blush2]
