Thanks guys Yes its a mixed bag at action. I wished I kept my big mouth shut. On inspection the agent even asked me where I was planning to put my furniture. I hope Bob is correct I never thought of it like that Bob maybe your right. I did see a few others at the inspection. I am concerned about the dummy bidding, yes I feel auctions need to be…[Read more]

ScampYes I think it may be a good idea. Its a morgagee sale mate (one of many to come).  I think I showed too much intrest in it and the agent is on to me. I dont trust this person that much. I feel they may dummy me up. I will try to find a friend to bid for me and tell them I m in mexico. The agent has already posponded the auction 2 weeks so…[Read more]

ReddyIm glad to hear you may not loose on this deal. Look at it this way use this as an experiment for the next place you buy. I feel we all can learn from it. You can now see how fine a line it is between making a profit or loss. My concern is this Why invest in real estate just and I mean just to break even and have to borrow 80% of 227,000…[Read more]

Kaus / SatiIm not meaning to be too critical here, but you have borrowed $450,000 in late 2003 its now 2008 dont  you think its a bit late to ask the question bellow.What is the return on this investment and how it is calculated? Given the rate of interest ie 9.44%May I ask why you brought it if you are not able to do the simple ROI c…[Read more]

I agree totally JohnIm attending auctions and Im getting sick of it. As an investment I can't see a return but for mum ,dad & 2 kids, 2 income couples the biding still goes on. Im after a nice place to live in as my PPOR I would like to think it will also make me a nice profit if I sell but as an invest ment the capit gains are not there at…[Read more]

ReddyI know the area you are in, Hoppers C.Gain has not been great nor is it the best part of Melbourne, if you know what I mean. If you had brought in 03 it would have been diffrent. These area are not great capital gain areas. They are cheap for a reasion, cheap to buy into and cheap when you sell. May I ask how much thourght you put into this…[Read more]

CashpoolI think its intresting why you look for these areas. I lived in Footscray in the hight of the "H" boom. There was a form of cash converters on every corner. Basiclly it had a bad reputation. But to my supprise I had no problems at all when I lived there. My point is crime, hooning, drugs etc happen in all suburbs in all states. Im now…[Read more]

HayleyThe infomation given to you by Skip is well worth taking. I attend these actions and hunt them out during the week to get a bargan ( most of the time its a waist of time). Most banks wont give you any info about a property and will refure you to the agent. They have a legal obligation to show they have tryed to get the best price, not offen…[Read more]

Hi folksTo buy or not to buy is still the question.  So many opinions, some say house prices will fall big time and for me I really hope so. I feel its ok to read other peoples opinions, cool, but at the end of the day you would be an idiot to act on any advice if thats what it is, you read on any internet forum.  Ive been working hard to find a g…[Read more]

Hi folksTo buy or not to buy is still the question.  So many opinions, some say house prices will fall big time and for me I really hope so. I feel its ok to read other peoples opinions, cool, but at the end of the day you would be an idiot to act on any advice if thats what it is, you read on any internet forum.  Ive been working hard to find a g…[Read more]

Thanks Guys it seems a bit like whos sueing who. I think it will be back on the market soon.Tony….

RichardYou said that this case is nothing uncommon. When the bank will not had over the title it puts the buyer in an bad position. You have no title the cost of sueing even if you win, the vendor has no money anyway.  Does the morgagee insurance pick up the short fall on the loan.  Also if the vendor is falling behind in repayments it will go t…[Read more]

Qlds007Yes thats what its all about. But if the vendor can pay out the loan with their own money + that of the sale the bank should not care about the actual sale price.  Who sets the reserve in this situation, the bank?  It waists the buyers time and money, inspections, when it cant be sold. Will the buyers get first preferance to make a new o…[Read more]

Its not stupid at all to consider the aspect of the block I would say its a must. Im a bit fussy and go to the extream on this. Not many people do it Im supprised. I dont like corner blocks, Sola panalles on the frount of the house are a no no in most estates or the builder will charge more. I also consider the trafic and the interfirance from…[Read more]

I was in a position which the agent told me the place was sold at X amount and disclosed the figure. However as no contract was signed and it was suject to finance I was told buy another member of staff No its not sold yet.  I was encorage to make my best offer as there is another offor on the table right now.  Well boys and girls the place is s…[Read more]

gmh454 wrote:
Not just the halving of rates and the speculation referred to but the deregulating of the market meant any homelss drunk could get not only 100%+ finance but a cheque for many thousands on top, a whole industry of people , brokers, spruikers, bankers, agents and not to be left out TV, with the Block, Hot Property location location,…[Read more]

carlin wrote:
Forumites may be interested in watching 4 Corners on the ABC this Monday night at 8.30pm. The program is about increasing mortgagee sales.Concur with Blogs and others here – too many single income/two+ kid families buying McMansions as their first home and shopping too freely at Harvey Norman = difficult times ah…[Read more]

virgininvestor wrote:
You guys should be fortune tellers!!So basically for saying normal people with families and who enjoy life outside money are 'F$#%ED' Grow up and may god give you a soul.

Mate not alot of  insight or useful information in the above. It is an Investment forum and no body has said anything about  "normal"  people with fami…[Read more]

Well Boys should I buy now or wait. All posts have been great stuff. Im a cash buyer ( yes the harder I worked the lucker I became) and Im getting cold feet as I see the market at best softening. The delema for me is if I put my cash into a nice place am I going to see my assett decrease in value?   New as to existing. If I build now I feel I wi…[Read more]

NatIm not a an invetment adviser or such so this is only my opinion. If you have $160k in cash to invest have a look at all the options. Why property?  Its on the way down or at best flatening out. Property is a long term investment if you want out in 3-5 years in a flat market you may only break even. Ive seen it in recent sales. A high groth…[Read more]