Yep not much change from 1million in sydney
of course you could try peal beach near gosford, most up there are well over that.

elves

Pisces and all

I have to do the right thing! I work for the government…LOL

However yup, not happy thats why people talking about their accountants, helps others see that something isnt quite right…

I once had a brilliant accountant, but she got well known, and too big and then went off to help politicians……

elves

to add about prices

in 1968 my parents bought their only home here for $6k, today it is valued at 650k

In 1980 I bought my first home- for 29k, nearly an acre of land, prestigious place up mts, I sold it in 82 for 67k I dont want to consider the price now!

in 82 I bought a home in QLD for I think 35k, I sold that for I think 69k, those ones are fuzzy, a time I rather forget….marraige split not long after.

In 85 WE bought a house back in the mts and rented, rent came off purchase price $57k I sold that when we did finally separate for $93k, not long time frames either Im talking 1987.

I then got in the rental trap. Single female, one child…ahhhhhhhh no hope.

I worked, got a block of land up the mts for $35k, it is valued at $150k

In 1980’s we did buy a block of land one of these qld investment scams..I got burnt, at 21, 17K didnt seem so bad, and the inlaws financed it, until we spilt then I completed the deals. It is now for sale at a modest price of 49k, so I dont loose much.lol

In 2001 I bought a home, for 181k, it is valued at $420k now in two years.

Other buys were 145k, now 210k in less than 12 months
157k also around 220k ditto
132k again now 220k just 12 months

so for me doubling every 10 years is not the case….

As a kid I wanted to buy…but had no means and neither did my folks. The block I wanted was near a golf club, $2k, now 300k

so, even though interest rates reached up to those dizzying heights around 18%, my first mortgage was 9%! the rpices still went up adn people still bought.

cheers

Elves

Dont know about cheap, are you in QLD? once you sign a contract to buy you have to insure

shop around and compare, you know pick up the phone and dial….

They will insure anything…for a price! Try also terry shearer for landlord insurance..etc

Prices have shot up between gold coast and eight mile plains that I know of.

I was going to buy a block of land in an estate a year ago, forget the place, just off the smith st exit on the freeway, new area, lots of expensive houses, bloack was 125k,next I looked near Dream world, a place called upper Coomera and surrounds, again around those prices, unfortunately I didnt, cant get a place there now.

Years ago near Pimpama, I was going to buy 5 acres…again, bailed out (had a hubby at the time who was conservative) I can only tell you that the prices in those areas at last look, were not cheap….do some research though

hi there

well I have no idea!
I go to buy shares, they go up, I want to sell, they are down, maybe its a strategy to keep my portfolio?

I balance asset classes

I think we will see another rise in rates.
I think there has been a plateauing effect and we might see some dips in areas (property) but it will come again…it is just knowing when

I locked in rates before the first rise took place, my bank manager said not too, it wont happen…LOL but it did.

Who has a crystal ball>?

I’m holding on property, building some cash reserves to start again or barter later.

just my thoughts.

Cheers
Elves

They have been around for a while, I bought a floppy once, but didnt do any more…too fiddly and time consuming for me…(but hey it was a while ago)

Well there is value and value.

Banks always tend to be more conservative.

Now what I found out when I bought one place….
my bank had the valuers do a drive by (and no it wasnt with guns….sorry) anyway, this company that did the value, drives by checks the area and gives the bank the valuation.

Thats what they base the loan on, usually a range, if the house fits in the range, you get the loan (percentages, deposits and all that aside)

Now, a real estate agent, is more driven by the market, to which they bump up the prices, often with too high an expectation, to suck a vendor in….trust me i’m a salesman! routine.

Would be investors – like me, add to the inflated prices…even if we knock them down.

Now to add to this, some real estate agents use RP data to access, sale history, owners names, lot and portfolio and all that for title searches….RP Data lists properties in NSW and QLD, other states I believe use a different system but similar.

These Data sites list the last sale price, county, size of land and other details, however!!! they are always a bit behind. Takes some time to list a property as being sold and therefore the price. Real estate agents have access to this (I guess user pays fee) Steve have you got access to this that gives you an edge to barter for a property?

For instance, you see a property last sold or bought in 1950 for $6k, the current market trend might be around $660k. Yep rub your hands together! If you have access to this, and can use it to your advantage..you can say offer a huge amount less…and just might be lucky…but it will depend on the demand in the area, might get gazumped on price….

anyway I digress, back to the bank valuation. They differ, they use different people, some enter properties, others just research the area and name a figure. Quite often they go on historical data, which is also out of date….eg demographics, which can work against you if you are desparately trying to get a loan!

At the end of the day…..one man’s junk is another man’s treasure, or supply and demand is determined by what people are willing to pay on the day.

sorry I have rambled!

Elves.

sorry spelling mistakes….fingers are doing the walking tonight