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I have a place in Redbank Plains and I jsut forward on the rates notice to the Property manager and they collect teh water charges from teh tenants, been like this for the past 18 months now. I think you can only recoup the water charges if the property meets water guidelines ie. water tank, low flush toilets and shower heads etc.
picked up a 4month old 2nd hand U shaped kitchen with overhead cupboards for $250 from the trading post – what a steal !
hmm.. thanks for the info.
Might just be easier to grab a flat pack kitchen from Bunnings.
harb wrote:Why, you still hope against all hope for some large falls ?
Don't get greedy , we had some falls already at least in the budget end of the market. I think its possible the top end of the market $1M+ will still go down a few more %, maybe, but I wouldn't put the house on it. At the budget end you have the FHOG and lower rates starting to kick in soon, my guess is that we'll see some evidence of a recovery by January and the market will continue to improve for the rest of 2009. Unemployment rate may go up but for every forced seller due to a job loss there are probably 100's of potential home buyers waiting to snap up a bargain so I wouldn't expect that to cause any price falls. There are still a few sellers who fell on hard times when the rates went higher and are still forced to sell at a loss but their numbers are coming down fast. On the other side of the equation you have buyers who have been sitting on the fence and are probably getting restless by now so at first sign of prices moving upwards they'll jump in afraid they may miss out .
If I was looking to buy a place in the budget range I'd be quick about it , would try to find a bargain over the next 2-3 weeks and negotiate hard. Once the RBA drops the rates in December by another 0.75% or more likely 1% the market will start moving , the buyers will come out of the woodwork and sellers won't be willing to consider silly offers anymore.My thoughts exactly..
OK so now I am really going to show how green i am in this space…
So with the 1% drop in official rates and the big 4 banks passing on 0.8% what does that mean for the market? and the possibility of more rate cuts in the future – what is the outlook?
I know most people are saying prices are going to fall but I cant get my head around how this is so…
Less people will be forced to sell so less properties on the market.. Prices rise?
Finance costs will be more affordable – people will be able to borrow more.. prices rise?What drives prices down, other than the obvious which would be unemployment should our unemployment rate go up…
Kylie,
What areas are you investing in at the moment?
You mentioned you are building a few is that the house/land packages or are you finding your own land then building?
Paul
I am a total newbie when it comes to investing so please take it easy on me for asking the following questions:
1. What makes the housing market drop in value by figures of 20% odd?
2. What does this mean for land sales and new buildings – I take it new housing will dry up if established homes are a lot cheaper or the builders/land developers will have to drop their price?
3. From a rental point of view – will there be more chance of finding +ve geared properties if the price is dropping or will rent also decrease?
4. From the info provided above it appears residential is not he way to go at the moment – is commercial investment a safer alternative?
That should cover it for now …
Thanks for all the great advice..
Think I will stay put unless that real bargain comes along