Forum Replies Created
seems like she hit everyone in the site
And me also – sounds real Genuine NOT
Hi Everyone
The last 3 days has been interesting to observe – All the Doom and Gloom about the Norwich Park Mine closure has been all over the Media yet the announcement made by Anglo American Coal to Double its mine size in Moranbah on the same day has gone virtually unnoticed an as had almost NO press.
The same goes for all the conversations in a number of the threads and posts in the forum
Yes, the mine closure is a setback and for those that got caught in the buying Frenzy over the last 6 months or so they will pay a price (short term I believe) but lets remember that there is so much still happening in the area new mines opening, existing mines are getting expanded, new mines and mine expansions are being considered…and ONE closes. Hardly a disaster for the region or for either Dysart or Moranbah.
I think this whole episode has been a lesson in what happens when the Greed factors gets into an area and also the Bad News Sells.
What is the forums opinion?
Hi Everyone
The last 3 days has been interesting to observe – All the Doom and Gloom about the Norwich Park Mine closure has been all over the Media yet the announcement made by Anglo American Coal to Double its mine size in Moranbah on the same day has gone virtually unnoticed an as had almost NO press.
The same goes for all the conversations in a number of the threads and posts in the forum
Yes, the mine closure is a setback and for those that got caught in the buying Frenzy over the last 6 months or so they will pay a price (shortterm I believe) but lets remember that there are Four new mines open/opening, 8 existing mines are getting expanded, 36 new mines and 13 mine expansions are being considered…and ONE closes. Hardly a disaster for the region for either Dysart or Moranbah.
Hi Everyone
The last 3 days has been interesting to observe – All the Doom and Gloom about the Norwich Park Mine closure has been all over the Media yet the announcement made by Anglo American Coal to Double its mine size in Moranbah on the same day has gone virtually unnoticed an as had almost NO press.
The same goes for all the conversations in a number of the threads and posts in the forum
Yes, the mine closure is a setback and for those that got caught in the buying Frenzy over the last 6 months or so they will pay a price (shortterm I believe) but lets remember that there are Four new mines open/opening, 8 existing mines are getting expanded, 36 new mines and 13 mine expansions are being considered…and ONE closes. Hardly a disaster for the region for either Dysart or Moranbah.
Terryw wrote:If you are buying properties to demolish you need to be buying at almost land value only. – probably. Demolishing a house can cost up to $30k plus when you remove the house the big drop in value.Terry
i can't completely agree with your statement – Sometimes removing a House can actually increase the value of a property. A recent example was of a friend that bought a property in Brisbane on two titles – had the house removed and then sold the 2 vacant blocks for a nice profit. Or in some cases knockdown rebuilds can make a great profit but its finding the Right property, in the right area at the right price AND Knowing your market and that only comes from research and experience (just my opinion)
Cheers
Scratch wrote:Definitely do not panic, lol. There are several other mines surrounding Dysart, but if you did proper due diligence prior to buying you would already know this. It will definitely see a drop in demand with an increase in available properties, but this is a primary example of the risks involved with investing in mining towns. Good luck to those who have already invested in Dysart, I for one will be watching with interest what affect this mine closure has on property in the area.Shane I totally Agree – this is a short term hiccup for the area – those who invested at the top of the market will feel the pinch but long term I think Dysart will continue to do quite well – This Is the risk of investing in a mining town.
CheersHi PropertyGuts
I have seen Rowan Burn speak – He is a Dr DeMartini trained Grad – Interesting concept using Property Options and Landbanking.
I am sure you will enjoy the day
WisePearl
Had a thought – most builders allow for a 500mm cut and fill on a normal building site so there should be now additional cost in building.
Your extra costs will probably come from retaining walls or drop edge beams (if required) and access and removal of spoil. Trust this helps.Terryw wrote:You can change settlement dates if they agree. If the contract is conditional then you may not be in so much strife. Best to work out a new settlement date before it goes unconditonal as you will have more leverage over them.I agree with Terry – Act now – another option is to offer a small sweetener for the delayed settlement – like paying the rates or a couple of weeks "rent"
Cheers
My suggestion is get the price reduced by receiving an $18K cashback and then furnish it yourself if there is the demand. Ensure you rent at a premium as you will have to repair and replace furniture as it gets damaged.
Hi Sagos Girl
The short answer is Supply and Demand drives price. Its also dependent on vacancy rates . And its owner occupiers that generally drive the market rather than investors.
hope this short answer helps
Terryw wrote:Trusts can be set up and run pretty cheaply, but they are complex and usually cost money in getting tax and legal advice down the track.There would also be stamp duty on transfers to the trust. It is probably not worth doing for equity of $100k.
If the main residence is in VIC then you may want to look at one spouse buying out the other as this could be done without stamp duty. This can increase borrowings and free up cash for the new PPOR.
Terryw
I like your thinking – paying unnecessary Stamp duty is painful – I am looking at selling a property between my Trusts and its going to cost around $10k (in QLD) just working out if it will be worth my while.
jadamo76 wrote:Nhan wrote:Hi there,Just wondering if anyone knows the location for the 2012 mega conference this year? I know its in Melbourne but dont have the address.
Your feedback is much appreciated.
Nhan
Hi stupid question but what is the "mega conference" ???
Hi JADAMO
Here is the link for Last Year's (2011) conference https://www.propertyinvesting.com/resources/2011conference#howtobook
This years has less Keynotes but heaps of Workshops – I went to Sydney last year and was impressed – great Information and a chance to network
I have put the dates aside which are the 1st to the 3rd of June 2012 for Melbourne this year
cheers
cheers
Just found a survey today in the paper
Poll
Is Moranbah still a property hot spot?
Thank you for voting.
Yes
47%
No
52%
This is not a scientific poll. The results reflect only the opinions of those who chose to participate.
Interesting Result – not sure when it started though
Hi Guys
Wondering if anyone has any thoughts on the Norwich Park Mine closure ? Anyone invested in Dysart with any Info?
http://www.dailymercury.com.au/story/2012/04/11/bhp-closes-norwich-park-mine/
Hi everyone
Whats the feeling in the forum about the closure of the Norwich Park mine out near Dysart QLD by BHP/BMA?
http://www.dailymercury.com.au/story/2012/04/11/bhp-closes-norwich-park-mine/
I would be interested to hear your feedback.
cheers
Cintaku
There is a place for everything in the market just that I think you need to understand the market you are in. I have a builder friend that was building Mansions on the Gold Coast a few years ago – the wiring and cabling for one house was $250K alone – He is not building them at present as the market is not there. A big house with Big rooms will sell in the right area. And if you get it wrong then you run the risk of losing money. Check out the example
cheers
Hi Wisepearl
I would regard a 1 metre fall over 30 metres as acceptable – Ashley and Luke Good answers.
My question for you is which way does the Slope run – Towards the road or away from it ?
And the Second question is If its away from the road do you have a stormwater easement in the rear?
Then how is access and what/how do you intend to build – Slab on ground or Bearers and Joists (Timber floor)?
Lots of things to consider – also position of Power, Sewer and other utilities
I would do a through site inspection and get a surveyor to do a contour survey
Cheers
CMS wrote:Not sure how I can "bite the bullet and make a decision" – we have dropped the rent and happy to drop much further, also keen to sell even at a loss just to be done with it, which isn't likely at present with no one buying-Keen to hear if anyone rents or sells in the short term though.
CMS
I am curious – what type of property do you have and how much do you want for it – you can PM me if you like
