Forum Replies Created
Spot on. Just another bad situation that some people try to use as a example of the Australian wide market.
My sister is living in the uk (Edinborough). She bought a loft apartment a few years ago and now she wants to come home and wants to sell.And yes she may lose some money but no 70%. What crap. Im sure there are many places thet may expieriance drops close to that but if you were to look at the details im sure the majority of people will spot were they went wrong. bad location,overpriced etc etc. If you buy well you will be ok over the long term. Infact my sister told me of some examples of prices still moving up due to the owner purchasing well.In any market there will be someone who overpaid and someone who got a bargain. These should not be used as averages.
yarpos wrote:well said Michael. We need to adapt to survive. Maybe you should change your icon to Morpheus?
re the XU1? a lot of capital growth I reckon…..the prices of iconic cars of that era have been through the roof for a few years now (another bubble?) things like A9Xs and GTHOs have been pulling $50k and way beyond. I love em but dont see that value….a bit like Grange Hermitage.
Ho,s are pulling well over $500,000 now. Some close to 1 MILLION although they have come back a bit. a Mint ht hk monaro gts can pull $200,000 and up. A9X,s are the same.I had a walkinshaw sold some time back but decided to hold on. Thinking of selling again. Offers above $100,000 considered. Its crazy.
Just remember for every doom and gloom artical out there there is another one about a new viable renewable energy source that is going to save the world. Its just a matter of time until they are used in a large scale. Do you really believe that large energy companies including oil comapanies are going to use the last drop of oil and then just walk away and retire. Get real. They have the next step planed and that will involve green energy. They are a company that wants to survive and they will evovle to green energy when they need too. WHEN THEY NEED TOO. Oil needs to get a lot more expensive before that happens.Money drive the world and there is no money in a world wide collapse. Sad but true.
ormeau wrote:devo76 wrote:ItalianDragon wrote:devo76 wrote:ItalianDragon wrote:Skip101 wrote:gmh454 wrote:In Sydney we have already seen 850K homes (asking price pre slump) sell for under 500K, Kellyville, the divorce capital of Australia.Palm Beach $6.25M to $4.5M in under a year, both ends of the market.
Wonder how many of the bulls here are taking there own advice and swooping in to prop up there portfolio before the market jumps again ????
what is more relevant to property investors on this board is that properties ideally suited for rentals throughout Australia in the $180,000 to $300,000 range have only experienced minimal downwards pressure on price, in other words drops of 20 to 30 percent are not happening unless the property is grossly overpriced to start off with.
Every property in Australia is OVERPRICED.
Now let me see. I bought my IP in a central location in a desirable location for $295,000. Replacement cost of the building alone is about $250,000. Making my land value $45,000( Yeah right). Vacant land nearby is selling for $180,000 to$260,000.Not all property is overpriced.
if you think that a 600 sqm of land is worth $200,000 (which is about 4 times the average Australian income) is cheap then, any comment is useless.
Your comments are truly useless. making reference to ALL Australian property within one sentance
So you are saying that a block on sydney harbour and a block 3 hours south of broken hill are worth the same.Extreme example but im sure you get the picture.If land is scarce in a desired location with no room for more dvelopment. Its going to go up.($200,000 for land which is four times the average income). Whats that in reference to. Do you think Sydney harbour property is linked to the average income.There is land available for less than one years income in some areas.Nowhere near Sydney but.If you are going to post please add some substance to it. Leave the one liners to the terminator ILL BE BACK.When peak oil is finished with our ass then my friend, unless you know how to garden, your bricks and mortar will only be good for rat shelter.
Have a nice day. http://www.latoc.com
Great .Another shoot from the hip,extremist,fear filled, comment. We are all going to die when a huge meteor hits soon anyway so why bother hey.I didnt realise that when oil runs out we are going to start living under the stars.I would have thought that if that happens centrally located property near transport would be more valuable. Hey isnt that what ive been saying all along.Alternate fuels exist and when Oil gets pricey enough they will be used. No point spending money on introducing alternate fuel while we can still suck that black stuff out of the ground.Atleast thats what the oil companies think.Mad max hear we come.
Havent had a comment from a suicide cult yet. Any of them out there want to add a quality one liner like the above.
ItalianDragon wrote:devo76 wrote:ItalianDragon wrote:devo76 wrote:ItalianDragon wrote:Skip101 wrote:gmh454 wrote:In Sydney we have already seen 850K homes (asking price pre slump) sell for under 500K, Kellyville, the divorce capital of Australia.Palm Beach $6.25M to $4.5M in under a year, both ends of the market.
Wonder how many of the bulls here are taking there own advice and swooping in to prop up there portfolio before the market jumps again ????
what is more relevant to property investors on this board is that properties ideally suited for rentals throughout Australia in the $180,000 to $300,000 range have only experienced minimal downwards pressure on price, in other words drops of 20 to 30 percent are not happening unless the property is grossly overpriced to start off with.
Every property in Australia is OVERPRICED.
Now let me see. I bought my IP in a central location in a desirable location for $295,000. Replacement cost of the building alone is about $250,000. Making my land value $45,000( Yeah right). Vacant land nearby is selling for $180,000 to$260,000.Not all property is overpriced.
if you think that a 600 sqm of land is worth $200,000 (which is about 4 times the average Australian income) is cheap then, any comment is useless.
Your comments are truly useless. making reference to ALL Australian property within one sentance
So you are saying that a block on sydney harbour and a block 3 hours south of broken hill are worth the same.Extreme example but im sure you get the picture.If land is scarce in a desired location with no room for more dvelopment. Its going to go up.($200,000 for land which is four times the average income). Whats that in reference to. Do you think Sydney harbour property is linked to the average income.There is land available for less than one years income in some areas.Nowhere near Sydney but.If you are going to post please add some substance to it. Leave the one liners to the terminator ILL BE BACK.I`m pretty sure that 600 sqm on the harbour won`t cost only $200,000 but maybe $2,000,000 !!
We were talking of your land. Is that on the harbour?
The harbour i wish. But its not in the middle of the desert either. Its in a cbd area that cannot expand anymore due to things like cliffs,rivers etc. Its a desirable area to live with only a handfull of blocks remaining in the cbd.So if you want to live close you will have to pay a premium. This is the same everywhere. I do agree that there are many overpriced properties around but i do not think that this can be said for all property.Choose well and pay a good price and you will be OK. Not rocket science really. I will admit that my first Ip is not ideal but i have learnt alot and know exactly what to look for know and how much to pay. Im looking foward to the next step.
ItalianDragon wrote:devo76 wrote:ItalianDragon wrote:Skip101 wrote:gmh454 wrote:In Sydney we have already seen 850K homes (asking price pre slump) sell for under 500K, Kellyville, the divorce capital of Australia.Palm Beach $6.25M to $4.5M in under a year, both ends of the market.
Wonder how many of the bulls here are taking there own advice and swooping in to prop up there portfolio before the market jumps again ????
what is more relevant to property investors on this board is that properties ideally suited for rentals throughout Australia in the $180,000 to $300,000 range have only experienced minimal downwards pressure on price, in other words drops of 20 to 30 percent are not happening unless the property is grossly overpriced to start off with.
Every property in Australia is OVERPRICED.
Now let me see. I bought my IP in a central location in a desirable location for $295,000. Replacement cost of the building alone is about $250,000. Making my land value $45,000( Yeah right). Vacant land nearby is selling for $180,000 to$260,000.Not all property is overpriced.
if you think that a 600 sqm of land is worth $200,000 (which is about 4 times the average Australian income) is cheap then, any comment is useless.
Your comments are truly useless. making reference to ALL Australian property within one sentance
So you are saying that a block on sydney harbour and a block 3 hours south of broken hill are worth the same.Extreme example but im sure you get the picture.If land is scarce in a desired location with no room for more dvelopment. Its going to go up.($200,000 for land which is four times the average income). Whats that in reference to. Do you think Sydney harbour property is linked to the average income.There is land available for less than one years income in some areas.Nowhere near Sydney but.If you are going to post please add some substance to it. Leave the one liners to the terminator ILL BE BACK.ItalianDragon wrote:Skip101 wrote:gmh454 wrote:In Sydney we have already seen 850K homes (asking price pre slump) sell for under 500K, Kellyville, the divorce capital of Australia.Palm Beach $6.25M to $4.5M in under a year, both ends of the market.
Wonder how many of the bulls here are taking there own advice and swooping in to prop up there portfolio before the market jumps again ????
what is more relevant to property investors on this board is that properties ideally suited for rentals throughout Australia in the $180,000 to $300,000 range have only experienced minimal downwards pressure on price, in other words drops of 20 to 30 percent are not happening unless the property is grossly overpriced to start off with.
Every property in Australia is OVERPRICED.
Now let me see. I bought my IP in a central location in a desirable location for $295,000. Replacement cost of the building alone is about $250,000. Making my land value $45,000( Yeah right). Vacant land nearby is selling for $180,000 to$260,000.Not all property is overpriced.
Now my retirement life.
Monday.
Walk on the beach and check out potential fishing hot spots for later.
Back home for breaky,read paper.
Go to my shed and play with my model aeroplanes and cars.
Lunch down the local bistro.
Afternoon fish on the beach
Club again for a try at winning a meat tray.
Telly with the missus untill bedTuesday.
Surfs up so down to the beach. This eats up the whole morning.
Back home for lunch.
On the net to see how my shares are doing.
Go to a movieWed
Sleep in until 11
Get up and organise holiday/Tax write off to check some of our IP.s on the other side of the country.
Go for a look around town with the wife and grab a coffee
Dinner with friendsThursday
Golf with my mates then to the pub
2 pm drunk too much crash on the lounge at home
Wake up at 9. Grab some food then crash againFriday
Back to the shed to work on my aussie muscle car. Its getting close nowSaturday
Fish in the morning
Go look at a boat as a potential hobby to fix up and sell.
Down the club for dinner.Sunday
Grandkids arrive so take them for a spin in the tinny up the river. then spend the day on the beach
realise my week is over and didnt get any business done with my IP,s. Busy week next week to catch up.Thats sounds like a good to retirement to me.
ormeau wrote:Blah blah blah, and still no reply to Peak Oil…… you are so close to the truth but still live in denial. You are the Sheeple. Good luck poor fools.I dont think anyone is in denial in regards to oil and its longevity. Its just that most dont believe the world will come to a screaching holt in the near future. You appear to be one of those people living in fear of what lay ahead. Not caution,fear. Just as war and famine etc etc dominated the polls for whats going to kill us in the past.But dont let me stop you. Start chucking statistics up now as im sure you will. Maybe its time to start building a bunker and stock it with fuel. Mad Max becomes a reality. God help us all.
I like this post. People are simply putting foward there thoughts on where we are heading none of which is new thinking. Some are arguing the doom and gloom. Others are arguing the sunny skies outlook. I guess you could say we are arguing over the time. Some believe its getting close to 6 O,clock on the property cycle while others think we are closer to 12. Clearly slower times are ahead. To what extent is where most differ. I believe while we are heading for a rough patch. we are in a good position to ride it out. We will have casualties but the bad times will pass also.This is the ongoing cycle that most believe in so much. Its true as many say that the cycle may not continue next time round but people being people will make sure it does happen again. look at Frankston. Prices there have gone through the roof largly due to investers actions who believe in property as a wealth creation. Why would this change when so many also believe that a slump will end and good times will return. Things will eventually even out via price corrections and wage and rent growth. How long or extreme this is no one knows. But if you were smart and bought well selected properties and gave yourself a good buffer with a view to long term growth. You will be OK.
Just have a open mind to all the possible outcomes good and bad and have plans for both.My property said offers above $335,000
I got it for $295,000.Start low.
So if houses drop 50%(My IP purchase price of $300,000) and the current cost to build my Ip is around $200,000.
That puts my land value at negative $50,000 !!!!!!! Not gunna happen
I guess thats the plus of buying in the cheaper areas with a stable although underperforming market. less room to fall. I expect a drop in value over the next year for sure but it will be managable.The reasons i bought have not changed.
Long term view
Bought in a slumped market
Good land content in central town location
Can easily afford repayment even with 17% rates or no neg gearing.I guess its just time for a reality check. There are many people highly exposed and they should be carefull. In a slump everyone will lose money on paper but if you have no buffer that loss may actually materialise.
Agree with your points LA and blogs. The keeping up with the jones and buying plasmas thing gets mentioned everyday. I was just saying that there are many people who will genuinely be hurt out of this through no fault of there own.Just bad timing. And i believe geting all excited about the impending blood bath can be in bad tast by some on these forums.
Fair enough. But do you think the rich invester with many properties are the one that are going to suffer.The majority are going to be people struggling to pay there PPOR morgage and now they may have negative equity on top.Plus the average Joe who is trying to build a nest egg with 1 house for retirement. These are the people that are going to get hurt. there not greedy. just trying to better there life.I would be interested to know what the suicide rate is in Australia over the next few years.fact is this has the potential to destroy lives. I will not lie but, I hope to be in the position to buy cheap properties if a crash accurs. But i will behave maturely about it because i would know that my gain has possibly come from anothers loss.
The sooner we have a bust or correction. The sooner the doom and gloomers can jump up and down and celebrate the misery of others and the sooner we can look foward to a boom time.Let the babies have there bottle for a few years hey.
The majority of investers may be just like a herd of sheep. But its this action that to me will be the start of the next boom.Prices soon may stagnate due to rates etc.Many mum and dad investers get spooked and jump ship dragging prices down or stagnating them. Then after a period of time rates come down, good times return as people forget the gloom from the past years( This tennds to be a short period).Housing sales increase and as the population see this more people buy Ip,s in a fear of missing out and up go prices again.I am not as concerned of any impending slump like i once was.My circumstances have not changed.Build a portfolio,Have a exit stratagy,Be prepared for a bargain,Think long term.
L.A Aussie wrote:Trying to sell our Honda Accord now for the return back to Aus in April.Spent 2 hours madly cleaning the car inside and out this morning as there was someone coming to look at it.
They never showed and no phone call. Seems to be a standard thing for this caper.
I've done it once before and was the same deal. Ended up keeping the car.
Selling cars privately has got to be the biggest pain in the @rse in the world.
Never again.
I know this pain. Because a lot of my past cars have been special i tend to get different people wanting to buy them.it can be a real pain.
PS. By the way LA. I sold my car yesterday to a top bloke. Cant say what for exactly but i can put $100,000 of my PPOR plus some left over to buy a new toy( Still gotta enjoy life) .
the wife and i made a decision about how we would live our lives 5 years back when we bought our PPOR. We have no desire to be the richest stiff in the graveyard. But also we dont want to be 50 and afraid of retirement because we have no money. We are aiming for the middle road.Invest,save and have a great life along the way. The majority of the people i know will be lucky to own there home and have a modest super at retirement. This can be said for most australians.My superanuation projections will put me into $65,000 PA at 60( In todays dollars with no extra contributions) Plus my wifes super and if we have a few IP,s paid for. Well thats a great retirement in my eyes.We will not be millionares but we will be happy,well off and living every minute.
I personally would be happy if property doubled over 20 not 10 years.Not the greatest investment i know but if i get the properties at or close to cashflow neutral quick with rising rents or paying loans down.That would be good for me. I am now 30. making me 50 in twenty years. Now if i build up a portfolio of several properties in the first 10 years or so.Allow there value to rise over the following years and bingo a nice retirement fund ( I actually dont want to retire till 60).
My personal goals are not too retire rich in the next few years. My goals are
Retire at 60
Own around 5 properties outright at the age of 50-60
Have axcess to cash during my working life( equity)
Nice amount in my super.
Enjoy my life all the way through.This is very achievable even with lower than expected growth. If its closer to 10% well thats even better.
