Forum Replies Created
IMO, most purchasers believe the house they wish to purchase is overpriced… !!
when you purchase a property why not sit down with agent to write up offer without verbalising price first,
as sometimes it is important, initially, to ensure the conditions of your offer are written
down also & are as important as price…
once it is written, then give agent the dollar figure you wish to add to offer.
The agent will give offer to vendor as they have to legally present all offers…
plus the time spent writing it down will ensure they submit to vendor….
…just an idea??yes there is.. blue board or white board depending on your circumstances then render over with a polymer type product pre-mixed in large tubs specially designed for this use.
hhmmm.. .25% interest rate cut last week.
more rate cuts to come… soon…
stamp duty & mortgage duty concessions have kicked in now for properties under $500k…
a R/E friend of mine has told me he's noticed an upswing in buyer interest in properties under $500k already.
could this possible momentum (if that's what it is) dominoe up the property ladder??your thoughts…
hi trig,
I would research where I could buy an investment property to see what property forecasters are
commentating on future growth potential before doing anything!!!.. if like in Adelaide or SEQ they are estimating
25% growth between now & 2011 I would certainly look at it, as potentially a capital gain like that could in essence pay off half your loan $60-75,000 (forgetting about CGT at moment as that can be minimalised dependant on your capacity to write down tax).
If you find out there is not much hope of capital gain in your area for next 3-5 years I would pay down on my mortgage & by doing so prepare yourself for when the time is right for you to jump in prior to growth…
but I would also organise a line of credit in the meantime to maximise interest savings.give my mate Martin a call… he's just moved back to Perth this month from here & painted my house recently…
very good painter!!
Call him at 'Crisp Finish' _ 0438 56 99 16.. he's based in Joondalup… (I'm not sure where Warnbro is though??)good luck
Mackar
I would re read the conditions of contract. as there may be a grey area here as,
what exactly is considered to be a " major defect".. there is no real clear definition.
I feel that if you consider it to be a major defect then pull out of contract
immmediately…
or get a 2nd opinion from another building / pest inspector…asap.I think you have to look deeper than the upfront cost of living somewhere… as a home is an "investment"… (including your PPOR which is also CGT free).
every house I have owned has returned far far greater than the actual day to day cost of ownership, especially when the tenant is paying a fair portion of cost of ownership & the tax man helps me out too at end of fin. year.
I think the maths you're describing in my mind would mean $20,000 per annum down the toilet for the renter…never to be seen again!!
In my opinion thats not great fiscal planning if you can afford to buy a home.I suppose it depends on what you want out of life & everyone is different… thankfully.
Hi Ummester,
sounds a little like you believe the market is overpriced… by a lot & you are waiting for the prices to come
down to where you believe you are comfortable, before you jump in & purchase. The current owners
will of course then "lose" money & once you own & live in your new home eventually you make money when the property jumps up to its future value… (whatever that might be)…this could also be perceived as merely speculating in the market couldn't it??
…you see deep down we are all capitalists… aren't we??"See how selfish your dreams are compared to mine? I want something for the country – you want something for yourself…
Basically you are aware that property resources are finite and that BBs got to entre the market first. Pretend there are only 2 people in the market. Logically, any property more than 1 that a BB owns is 1 the other person can't. And if the BB and the other person own a house then there is 1 house more than what is needed. See how that works?"
but don't you see also that the 'second house' becomes somewhere to rent for people that haven't managed to acquire their own home yet…
I remember when I was i my twenties & tried to purchase my 1st property & wished I had been able to buy 10 years earlier as they had all more than doubled some maybe tripled… it was very hard to get finance too as banks did not have all the facilities they have now like lo -doc & no- doc loans.another reason, along with all the others… for the r/e ' growth cycle' over last 8 years or so is the fact that the banks have loosened their requirements on lending… it's a lot easier to get finance now, than 12 or 13 years ago. I couldn't purchase the home i wanted to back then as I couldn't get finance… even though I had close to 30% deposit.
to be able to be charitable you must first have the capacity… whether it be financially,
socially or emotionally.
That's how we could give Indonesia $1Billion worth of socialism after the Tsunami… because we were viable as a nation.Same goes for family… I found out over the weekend I'm going to be a Grandparent for the 1st time… & one of my 1st thoughts was… how can I help (without taking away their opportuniies & experiences to make it for themselves) my kids.?? & you're right not just financially… but financial security can often prelude emotional security
I've spent some time in Northern Territory areas & unfortunately its hard to talk about home ownership in indigenous areas as part of the way the white man thinks about it as Aboriginals have a different culture when it comes to ownership of all things inc. housing… they have a kind of communal ownership of things… this leads to no real sense of self ownership.. rather get what you can from the pot whilst its there, plus no real responibility that comes with personal ownership & even less regard for upkeep. There are of course a minority that don't conform to this & they lead what the 'white man' would see as a good quality of life. you can take a horse to water but you cannot make it drink.
There also was a government body up until recently called ATSIC, which was involved in looking after its indigenous people, which was plundered & mismanaged by the very people it was set up to look after, to the point that it had to be closed down.In London where some of the most expensive properties are to be found… but young 1st home buyers, buy a bedsit as their 1st home, then maybe a 2bed unit, then a townhouse & eventually work their way up to the house they want…
I feel the quality of life here in Aus is great & I agree we've had it too good for too long… but i feel we will mirror the UK & 1st home buyers will have to work their way up the property market. To think that your 1st home in life should be a detached home on your own parcel of land is not the reality of the future.
I believe in the theory of giving people a "hand up" not "hand out" …
I also believe that some people will never own their own home no matter what you did, even if it were given to them, some people would owe more than the house is worth within a period of time & lose it.
what you get… can be very different to what you want….
As only 30+ % of Aussies own property I believe, the majority would want lower house prices… they may get it too, for a while at least, as I feel there may be a "Puddling of property prices for next 6 – 12 Months before a growth cycle again will drive prices up… maybe not by 20 -25% as predicted by the "experts" by 2011across the board… but possibly up to that much in some areas like Adelaide, SE Qld, mining towns in North Qld, etc… (There's that investor lean again??)
my theory is that almost all generations have thought the next one doesn't work hard enough… and are lazy.!!
I could quote a monty python sketch here… but if I told you which one,….."they wouldn't believe me"!!
maybe the older generations are right though, we invent smarter, quicker & easier ways to wash clothes, dishes, communicate & travel etc… which in turn affords us more free time to spend with our children, hopefully to instill the morals & boundaries we crave. …unfortunately for some, though it's easier to dump them in front of the flat screen babysitter in the lounge.
the reality is, that Y generation will dismiss the next generation with the same old lines now used by previous 'bah humbug' generations when they attain a ripe old age also…. we all want, (or at least I do) our childrens lives to be just that little bit better than ours was.
but we are digressing from the topic of this thread.."boom or not". I still don't really aspire to the 'big bust theory' (at this time), but always enjoy listening to both sides of peoples debate as I may learn something, …possibly my theory has a lean, because i have properties that i want to go up in value, the same as people that don't have properties have a leaning to want them to go down in price & sometimes we may all have a tendency to listen only to what we want to hear.
It's only my theory though & maybe we should all have a 'disclaimer' under our comments
surely though there is an advantage for analysts to be able to pick the timing of the downturns
as well as the upswings…or else if they can't they virtually become redundant as noone
will have confidence in their opinion in any market… & well… with analysts.. thats all they
have to sell really, …their reputation.
a bit like a burger shop having no burgers… after 1 or 2 visits you don't bother going there anymore.
-not a very good analogy I know, but you know what I mean!!mackar
is this just a conspiracy theory???
why would a respectable company compromise their perceived integrity??
mackar
why … if what you profess is correct, & I'm not shooting you down here… would several revered analysts ie: matusik,
bis shrapnel etc
state recently in their 2008 – 2011 predictions a 22% raise in property prices & similar for rental increases..?? (I know I have just raised one of my properties rents by aprox 18% this year alone… & without having to get a new tenant… I realise this is an isolated incident mind you).do the property analysts have a second agenda??
does anyone feel that my initial comments re: the stamp duty concessions in s.e.q. etc hold any water??
This is better.. snippets of peoples thoughts… it's interesting to read where people are at with
their different ideas on the market.I agree that no one knows…thats why its pointless pushing anyones point…
but I enjoy stimulating informative dialogue.…what was the article you read about "why not to buy R.E. over last decades" Erikh??
thanks Erikh & unmester for your posts
mackar
gees… I'm glad I prefaced this topic with asking for some restraint, or who
knows what comments we would have got…
we all… now, have a very good idea what some
members here, have to say & say & say…does anyone else have any informative, constructive, educated, unbiased views
ideas, information or just plain hunches???
without the use of large letters to push your point!!I really am not interested in this line of drivel being peddled on nearly every
similarly themed thread recently over & over again….boring…!!I, like I'm sure, many readers here have a brain & can decipher information & opinion without aid.
there are no winners here if we resort to personal attacks
thanks
Mackar.
hi Costa,
I know of a new web site that has just started giving sales history of houses for free…
I find it invaluable as you can find the details on a whole street at a time too.
go to… http://www.onthehouse.com.au
you can search the entire price & date history of a house that normally you have to pay for…let me know if this helps you at all
regards
mackar
if you go to your local council, you can purchase plans for your home including storm water details too if necessary.. talk to the people at reception & they will let you know how much it will be & what you get exactly… normally takes a couple of weeks to get it i the mail from them…
