Forum Replies Created
I use PDlive, they are a lot more expensive than $120 a quarter, I cant believe RPData in NSW is only that much. You pay more than that a month in QLD – unless your splitting the cost with othe I suppose.
god_of_money wrote:R U A SELLER?
Declare your interest pleasewhy, are you like the forum police or something and also it's RUDE TO SHOUT
Hi WFL,
My word, I wont kid myself that i have bought out the passion that caused the epic reply, i am quite sure your a very passionate person as it is. I am glad you are feeling good today as I am heavy with flu, with a sick child to boot.
My office does not have such grandeur on the opposite side of theglass, but it does have a few horses and paddocks, so I too am grateful for all I have as well. except for the bloody flu – the worst part is my wife is happily whistling about the place packing for a week in Fiji with her girlfriends tomorrow, 28 degrees she keeps telling me. So please forgive me with this short reply, I will return in full force as early as tomorrow, when i should be sharp enough to Remise your Riposte.
wealth4life.com wrote:OMG simple is this here again?My prediction for the records is that top end properties will come back another 30% approximately over the next 6 months … OK gurus tell me your name and tell us your prediction haha … lets have some fun … Australand have written down their property portfolio by 235 million dollars hmm why is that I wonder??????
from todays Australian:
"The consolidation that began in the March 2009 quarter has now transformed into strong growth across the country," APM economist Matthew Bell said.
He said that while low interest rates, flat prices and first-home owner grants supported the affordable end of the market through the end of last year and early this year, "it's the upper end of the market that's driven the strong growth in the major capitals in the June quarter".
For Sydney, Melbourne and Brisbane, he said, median prices in the top 50 per cent of suburbs grew by nearly double the rate of those of the bottom 50 per cent.
Now I am bloody p@#*&% off again about not being rich.
ajaydee73 wrote:Rising unemployment + rising interest rates + tightening lending standards + reduced first home buyers grant + lower incomes + lower immigration = bad for property prices.from july 4th
FIRST home buyer grants are continuing to boost the housing market in NSW.
The number of first home buyer grants taken up across the state was 7,354 for the month of June, compared to 4,311 for February.
The trend in the figures mirrors trends in sales and grants on newly constructed homes.
From a low of 256 grants on newly purchased homes in January, figures have climbed steadily over the months, with 816 such grants in June – a six-month increase of 313 per cent.
Mr Roozendaal dismissed suggestions that the state and federal stimulus payments to first-time home buyers were creating an artificial housing bubble that may burst once the payment schemes are trimmed.
”It's precisely what you do in an economic downturn,” he said.
”We are directly targeting the housing construction sector – it is depressed (and) it has a huge multiplier (effect) right through the economy.”
The treasurer also challenged economists' forecasts that once the stimulus schemes are reduced, housing prices will drop by more than the amount that first-time buyers could receive in government payments.
”I think people are recognising opportunity when they see it,” Mr Roozendaal said.
”And if they think it's the right time, they should take advantage.”
Mr Roozendaal would not be drawn on suggestions that stimulus payments were prompting developers to increase prices of newly-built homes.
”Well it's about stimulating the housing construction industry,” Mr Roozendaal said.
”What we are seeing is record numbers of first home buyers each month.
”First home buyers are realising the Australian dream.”
From today
"AUSTRALIA's housing recovery is under way, with prices jumping 3.3 per cent in the June quarter – the strongest quarterly growth recorded in house and unit prices since December 2007.
The figures were revealed in the latest Australian Property Monitors' Quarterly Housing Data report, which said Brisbane and Perth were the only markets with both house and unit median prices at less than June 2008 levels.
The Sydney market was one of the biggest movers, with the median price rising 3.7 per cent, the first quarter of median price growth for houses since December 2007. The rise brings house prices back to the level of June last year, The Australian reports.
Darwin remained the strongest market nationally, with annual rises for houses and units up nearly 20 per cent. Outside of Darwin, Melbourne recorded the next biggest rise in median house price, up 5.8 per cent in the June quarter.
"The consolidation that began in the March 2009 quarter has now transformed into strong growth across the country," APM economist Matthew Bell said.
He said that while low interest rates, flat prices and first-home owner grants supported the affordable end of the market through the end of last year and early this year, "it's the upper end of the market that's driven the strong growth in the major capitals in the June quarter".
For Sydney, Melbourne and Brisbane, he said, median prices in the top 50 per cent of suburbs grew by nearly double the rate of those of the bottom 50 per cent.
The release of the APM figures came as a report prepared by property research firm RP Data, on behalf of the Commonwealth Bank, showed the number of suburbs where it was cheaper to service a monthly mortgage payment than pay rent rose from 74 to 94 in the past six months, reflecting a 27 per cent rise.
Affordability improved further after factoring in the $14,000 first-home buyers grant."
Now Ajay, I am not saying your wrong ( well I kinda am, but thats just my personal opinion) and these guys are right, it's just that everyone has an opinion, whether it be right or wrong, endless arguments can ensue. When it comes to two things, Economics and Real Estate, there will always be the black and white and the huge variances of grey in between. It seems to me no one really knows for sure until after the fact. Personally, from what I see, and what my former colleagues tell me, things are looking up, but I then have to admit, what I see is only a small part of the world.
wealth4life.com wrote:Thank you … I specialize in research analysis … gurus don't like me because their predictions are based on self egos and over opinionated self worth … oh please pay me for every time I read "we are at the bottom of the market" …
aren't the gurus research analysts also?
wealth4life.com wrote:80% of property is not a good investment you need to be smart and you need to know the difference between an ASSET and a future LIABILITY.
C'mon, isn't that generalising just a little bit, and generalising just a little bit too high percentage wise. You could show me where that figure comes from and prove me wrong, but sorry I just can't agree with that.
wealth4life.com wrote:OMG simple is this here again?My prediction for the records is that top end properties will come back another 30% approximately over the next 6 months … OK gurus tell me your name and tell us your prediction haha … lets have some fun … Australand have written down their property portfolio by 235 million dollars hmm why is that I wonder??????
Crikey, thank the god of money I am not rich, again WFL, i feel a bit over the top, but time will tell. So lets meet back here in 6 months and see who's right. I am always the first to admit when i am wrong – in fact I am quite used to it. I call maybe 10% tops within six months, if that. However I only know a small opart of the Australian market and top end stuff it's not!! But I myself do a bit of researching in myspare time and i still feel 30% is a massive call if we are talking Australia wide.
seems to me the CF+ properties are all in mining towns, anybody finding them in or around capital cities? Not saying the mining town scenario is bad, just seems to be the only option.
Hi Tulipslip,
Lilyhutch's has the right idea but the fact is Independent valuers wont tell you anything , they will of course take your money and value a place for you, RP Data wont tell you anything unless of course you want to pay for it , Terry Ryder gives nothing away, but will sell you overpriced reports -he does the occasional article, but if you want anything in depth or off his website you got to pull out the credit card. Mortgage brokers I would doubt retain relevant information simply due to the sheer volume of deals they deal with and really probably not worth their time to worry about it.
Now here is a crazy idea……but it just might work……… hit the pavements and ask some real estate agents…ridiculous I know, but apparently they do know -or should do anyways – the market. Things like whats been sold, whats for sale and whats under contract – and they can access RP Data and PDS Live for free. Some may not want to do so, but i would bet that there is an agent in every office that will take the time to help.
As duckster said, API magazine has some valuable but ultimately limited information in the rear section and only 10 bucks, well worth the read as a heads up into the suburbs you may be interested in.
As for comparative sales, again an agent can issue you with a CMA report, although I guess there is a tendency to put addresses on that make the property for sale look good.
as with everything in life, if you truly want to get the best deal you have to do the hard yards, don't expect people to just hand over deals on a plate. Have fun.
if the offer is verbal then no problem but if it is written and he signs it then it's a contract. In QLD anyway, I know some states have different procedures. I was always told that when it comes to contracts it boils down to intent, so arguably an envelope , if signed by two, is a contract.
probably not the first or last to either. Now go stand in the corner and think about what you have done.
Fair enough Blogs, I hate shonks as well,on this we both agree wholeheartedly but i do get a little worked up over the whole RA are all no good. Shonks are in all walks of life and, like you, I believe they should be sent to hell in a handbasket ( again, a silly saying, but you geddit).You can rest easy in the fact that my wife thinks the same about me as you probably do right now. lol.
I bid you good night and hope to catch up again. This is what public forums are all about.
Now, wheres my Bourbon?
Blogs, this could go on all night, and that's alright I have plenty of Bourbon and cigarettes,
Again you are making assumptions, maybe the RA made a balls up, but what better way to make up for it than getting the extra money or maybe the vendor did get the irrational greed fest, which no one can deny paid off. Assumptions. Everybody is happy at the end of the day and that would include the person who was willing to pay the $323,500, because surely they would not have paid it if they weren't . My point , is it worth it, I guess so..
You have to remember that the post you decided to attack me over was the one where the property has already sold at the higher price. So time has told. If you read my previous post I actually agreed with you over the "time will tell"on your original post. I would like to think that if some one has made a balls up and it meant the vendor got an extra $100,000 then , gosh, it's a pretty good balls up. I will allow for the fact that if the agent undervalued it then smack his hand and send him to the quiet room, but not many people with talk only with one agent before signing on the dotted line.
At the end of the day (terrible saying) you sell something for the best price you can get, and thats what it is all about. sorry if that offends you but it is human nature.
As for the time wasting, that's a bit rich, do you know how many people think it is okay to waste a RA time, make them show them property when they have no desire at all to purchase on a Sunday night. I will tell you, 9 out of 10 people do it. That's the figures back in my day anyway. so too bad brother. Swings and roundabouts my friend.
As for Auctions, dunno, don't care, i never was one for them. But I am sure I could find out.
And again your analogy with the Beemer is a bit far fetched, and if you own one ..too bad a second hand one is probably only worth 30K..damn that prestige car tax. Touche, balls in your court.
all this typing , my fingers are hurting.
oh what ever Blogs, Your obviously a fantastic human being and good on you. Great. Fantastic. However, I don't see anything in your original post to suggest any illegal , morally bankrupt or ethically reprehensible dealings and if there was you should get off your soapbox and do something about it. . Please give us the full in depth story here, because frankly I don't think your know it. I would be the first to back down and beg your forgiveness if i am wrong, but My experience with vendors suggests I am not. you just seem like one of the great unwashed that instantly jumps on the "all real estate agent are evil"bandwagon.
Do you have anything in your armoury other than (your) hearsay. I mean really do you… or is this whole thing just you assuming, and you know the saying about assume. Was the property worth $323,500 because that is all that matters really or was it sold at a $100,000 too much, would a valuer in this day and age value it $100,000 too much. Again I would suggest if it was your property you wouldn't protest so much, i suppose you would deny your family that and donate it to charity. Whats the bait and switch here, everyone has the right to get the best dollar for there property.
Land rats??? that's just plain rude. Bah!!
An as for used car salesmen, I just happened to have a bought a car this very day and the paperwork involved was about ten times more than a property contract, which is insane but designed to protect me, and the guy was very professional and treated me with total respect. Blogs, your analogies are a tad outdated.
On this point I agree with you blogs, things are great , a friend of mine in Melbourne had 25 people through his property over the weekend and had six 32's – I think that's what you have in VIC – and is wading through offers. Most of my fellow investors don't do the seminar thing anymore, but all have at some stage, and are buying what they can. I am not in a position at the moment to increase my portfolio, but wouldn't hesitate if i could. Confidence is what most people lack, and sadly they are the ones that will miss out.
The trouble is with RE is that for every positive "expert"there is a negative one. you just have to be confident and go for it or take a back seat and wait for the sheep effect.
To be honest most spruikers are out to sell their own product be it high commission fees in real estate deals, high priced seminars or their latest book.
not quite the answer to your question, but my opinion anyways.
wealthyjvd wrote:happened to me.. they listed a property at 220-245k…. i went to the open for inspection ready to make an offer at 250+k, a few days later when the s32 arrived it went to 290-315. Then sold at auction for 323,500…stupid idiots!
who is the stupid idiot here, if the agent ends up with the extra money in the vendors pocket then by hook or by crook he has done the right thing. it seems the only person who could complain is the prospective buyer who misses out and really that is just too bad. if it was your property i bet you wouldn't be complaining. As long as it is all legal, which i am assuming is the case here, then good luck to him. You want to bargain the vendor down, so what is so wrong with him bargaining upwards.
I was actively involved in selling for quite some time and i get really sick of people whinging about agents. Vendors are a very fickle bunch and they do change their minds. Agents have to do as they are directed, that's the law folks. Sure there are dodgy ones out there, but i bet there are more politicians, solicitors, doctors and sports heroes in jail than real estate agents.s#@t happens, and any agent worth his salt that does what he can -ethically and for the vendor – to get the best price is deserving of his coin. sour grapes just don't count I'm afraid.
blogs wrote:diggerdigzit wrote:blogs wrote:Ah well, whatever the case at the end of the day the market will decide its true worth
true enough
is that rent fixed for ten years or subject to increase, I would think you would be looking for a greater return than 5.6% after five years at least. After ten years I would like to think it would be 10% plus. Nice and safe i suppose, as long as they are around for ten years to honour it. Guaranteed rents scare me. Free management as well, who manages a property for free unless that has been built into the price. Pessimist aren't I
blogs wrote:Have been interested in a house not far from where I live, been emailing the agent trying to arrange inspection. Was priced between $580-$620. Now I see they have changed the price to $685 lol what the?? What this tells me is either they are so incompetant that they cant value a property to within $100k (would hate to be the vendor….) or they knowing listed it $100k less initially to get interest.
or maybe they are acting on the vendors new instructions, some agents will do that!!
Look forward to recieving your property updates.
Hi Clint,
What sort of property do you deal with just new or do myou do second hand stock?
