Terry 4 corners of a contract when I did legal studies – 2 parties, agreement, consideration, and the item.
If a vendor has signed a contract – I dont think he can withdraw and as far as I know – he does not have to sign within 3 days. You get 3 days cooling off but that starts the moment the buyer signs the contract. The vendor can still sign 5…[Read more]

Yes, the reason that you cant get immediate results is that it sometimes takes that long before the sale price gets to the titles office- it is not a function of the data or the service itself.
As Matt says – call the agent on the Monday and see if they will give you the price. Or watch the sales yourself.
You dont really need values so…[Read more]

Winadil there is always another property around the corner. Dont get sucked into “you have to do it now” or “this will be snapped up soon”.. it is just a matter of the right one will be the right one when the time is right for you. We all live in houses and we all buy and sell houses – there is always another good deal coming by.
Jacm is right -…[Read more]

Awsome Juve… you are doing all the right things then.
I dont know if you should hang on to a property forever. Some say that and some say you should do a calculation on opportunity value- that is what else can your money be doing?
Property is a longer term investment – if you listen to everyone you will get analysis paralysis…………

Jamie is right- get a valuation or appraisal done – yes they are free and I have heard them used before – its more than most people do at the time. A valuation can cost up to $1000 – that is up to but not necessarily.
I am not sure if its about the lender in changing the loan from PPOR to IP – its more about tax implications and how you are…[Read more]

Kristen, its good to see some people who post here who have a depth of understanding of investing – you are one of those people.
I was once a real estate agent. There are many in real estate who do a really good job. Real estate agents get a battering here.
All investors would do well to make their real estate agent their best friend.
I know a…[Read more]

As I have suggested in another post – look for when the media has mixed messages – about now in Melbourne.
I have seen some news say prices are stable and in fact have gone up – that is true where I live – prices have not gone down.
Some prices have gone up closer to the city.
There are also reports that there are less properties on the market -…[Read more]

Oh Not all real estate agents dont understand investing- ask Kirsten who posts here – she seems to understand:

Kristin Simondson
E: kristin@peterbarnes.com.au| P: 0410 202 393 | Office: 98 Rathdowne Street, Carlton 3053
A refreshingly honest approach to real estate http://www.peterbarnes.com.au

Which state are you in?

Jamie is correct in this instance- you need to think about what’s in it for him- for both the broker and the Real Estate Agent. My first thought on the real estate agent was “why are you taking advice from a real estate agent”… they dont give advice. Not forgetting that I was a real estate agent too. Not many of them know how to spell investing…[Read more]

The media has a lot to answer for. I agree.
What I do know is looking at median prices in my area they have only RISEN.

Opee, I dont have a view on whether OTP is good or not- I have seen posts on this site re Park Trent. I dont know how they are.
BUT if you ARE looking in Brunswick- have a good look at it- it has become the place to be.
If you cant afford it- maybe look at the next suburb out.
I also like Thornbury and Preston for investing- not too popular just…[Read more]

Wow! What a great meeting last night.
Lucas covered many things and answered many questions.
This led to attendees saying after – “Wow, he was the best speaker we have seen. So patient and good answers. Lucas was very generous with his time”.
Thanks Lucas…. we hope you come back again.
If you would like to know more – get along to our next…[Read more]

Jennie, do you mean – what does “PM” mean? Private Message me?
In my view – you might like property managers who others simply don’t get along with.
It is always a good idea to keep your ear to the ground – but also do your own research.
And remember- “What Peter says about Paul, says more about Peter than it does about Paul”.

You will meet Sales people – not property managers…. that is if you want the sale price value- for CGT purposes.
You will meet the property manager if you are looking for rental only.
You meet them where you want- best to meet at the property to ensure they get a good look at it.
As I have been saying here – where I am property prices have not…[Read more]

JacM I am so with you. I would love to know more about Geelong and what you know. I will PM you. I think Geelong is a good place to invest – even more so now with the “lay offs”- yes definitely one to watch.
Not with the stigma thing or anything – but I dont think rental will be affected in this area – Centrelink is still at work.

I like the Bird…[Read more]

That’s funny! I thought you were having a go at them!

No Freckle, I am not kidding. As Nigel says – this is a quick headline grab. IN my experience as a real estate agent- yes the media is about 3 months behind. When you start to hear mixed responses from the media – this means the market is turning.
On Saturday evening news on channel 9 they reported that prices had in fact risen in inner Melbourne.

I am not sure what you mean by the “price has gone down to $225K”?
Do you have comparable property analysis around you? How can you know that?
Are there other options available to you? Like can you furnish the unit – you can get second hand furniture – and rent it for holiday rental for higher? Cairns has had a lot of development over the time for…[Read more]

I would imagine the bank would ask for the $100,000 short fall- I cant see it any other way- they want their money or the purchaser would take the hit for the $100,000 as Terry says

Values will not change all that much in that time.
As I have said before – wont take much to get a couple of “appraisals” done by a real estate agent and they are free. I have been told before that this could be used for ATO purposes- I mean really – most people dont even go to the trouble so are them made to work back and provide an estimate.
Get…[Read more]