Forum Replies Created
Hi god_of_money,
The matter has been heard in the Magistrates Court of Queensland. The case has been dismissed, and no charges or convictions were laid against the company, Ron or Kellie Cross.
Thanks.
Erin
Qlds007 wrote:Hi ErinPlease understand at this point in time ALL properties in Queensland are being valued at under replacement cost
Sorry but that statement is clearly not true and is highly deceptive and misleading to potential investors.
We arrange valuations on around 140 properties a year many of them of which are brand new and certainly this is not the case. I have been involved in the industry for over 25 years both here and in the UK and i not sure whether this is the feedback you get on the properties you are marketing but certainly it is not on any of the stock we are involved.
Sorry but as i say your statement is totally false.
If the property has been downvalued by that amount i think it should tell the purchaser something about the price.
Cheers
Yours in Finance
Dear Qlds007,As you must know property valuers are a lot more conservative now than they were a few years ago. With the GFC hitting and of course the floods adversely affected property prices in Queensland and Brisbane specifically, we are only now starting to see the market stabilise.
Of course property valuers are nervous and are under-valuing properties in Queensland by up to 30 per cent!We don’t expect you to take our word for it – rather, we have some articles here for your perusal that back up what we are saying:
Australian Financial Review – 13th October 2011
Your Investment Property Magazine – February 2012
Weekend Australian Financial Review – 22nd-27th December 2011ParkTrent Properties Group will continue to stand by the fact that we market and sell all our properties at fair and reasonable market related prices. Further to this, our clients are not forced into anything and are free to get their own independent evaluations (in fact we encourage it).
Regards,
Erin
Dear kimbooo89,
The valuation of your property is indicated by your bank, and you have said that it has come in as 30k under purchase price.
Please understand at this point in time ALL properties in Queensland are being valued at under replacement cost. Primarily, this issue of valuations has been bought about by the unfortunate event of the floods experienced 12 months ago. Values of properties in and around flood areas are losing value, which has greatly affected Valuers Indemnity Insurance. In a number of cases indemnity insurance has been cancelled.
Therefore valuers are now displaying extreme caution when valuing properties in Queensland.
Please note that we are confident this does not affect the 'value for money' property you have purchased. If you analyse and calculate your purchase from a micro level you will discover that it is impossible to build the dwelling for the stated valuation price. Don't forget to include the land value.
I will have our customer service manager contact you on Monday, and I will also supply you with some hard copy data that supports the above.
We are here to support you through every step of your transaction.
Sincerely,
Erin
Hi standard and poor,
I am glad to hear that you remain open to what our consultants discuss, as that is all we ask of our clients. It is also good to see you do your own research, as this is the problem most new investors fall into as they do not consider all the information available before making a purchase. ParkTrent performs all necessary research into each development we sell and always encourage our clients to complete their own research to support their piece of mind.
I just wanted to clarify your point about the properties you were shown (in terms of the agents on the websites did not believe we were involved). The building in question is actually being developed as two separate sections; the bottom floors are being developed into a hotel, while the top levels are being sold as residential. ParkTrent was promoting the top level apartments, therefore the company which owns the hotel sections would have no knowledge of ParkTrent’s involvement.
The development is called 27 Little Collins, however we have stopped promoting the apartments for sale as they are almost completely sold.
I wish you luck in the future.
Thanks, Erin S.
Dear El1,
Thank you for your comment. As you have commented anonymously it's difficult to reply in specific.
ParkTrent prides itself on providing research for each individual to suit their individual needs and financial ability. There are different reasons why we recommend certain properties to individuals, and without knowing your personal situation, it is difficult to speculate what the best strategy is for you. NRAS properties don't suit everyone. We market properties for reputable and quality developers at the same price as any other agent and we have thousands of clients who have bought properties off us with outstanding results. In regards to the property market, historically for the last 150 years property has doubled every 7-10 years, yes in the short term it has it's high's and lows however property is a long term investment that does increase in value.
We would welcome speaking with you in person, and are more than willing to refund you the $110 as this is certainly not the perception of our company we wish to have in the marketplace.
Please contact me at your earliest convenience at [email protected].
Erin from ParkTrent here – we openly recommend clients engage independent advice where required. Our relationships with our clients and external stakeholders are transparent at all times. All contracts are legitimate legal documents that are fully compliant by State and Federal legislation, not only does the client's solicitor vent the contact, so too does ParkTrent and the developer. At ParkTrent we only deal deal with reputable, quality and established Companies which ensure the best quality and value investment for our clients.If you have any further questions please feel free contact me at [email protected] and I can put you in touch with the appropriate person who can discuss the exact nature of the transaction including trust accounts, finance and the settlement process, or anything else that you may have questions about. We are here to help. Look forward to discussing this further with you.I am so sorry that you feel this way. I work for ParkTrent in the Customer Service Dept. and would love to help you resolve any problem you have. As you have posted anonymously, I have no way of contacting you, so please feel free to contact me on my email address [email protected].
