Jo,
I did not even assume that you wanted to tell me what to do. I just enjoy a healthy debate.
I think Jan somers is a great investor and i have enjoyed reading her books. I actually started out with iP”s by reading her first book which i still have. I dont believe the boom is completly over and that’s i good reason for me not to buy at the moment(Just my Opinion) unless you find the deal of the century.Ausprop i like the story about the little old lady
everyone has one around the corner from them.Happy investing.
Dom[biggrin]I think you girls should design a high heel thong you would make a forture.
When’s the right time;
If you think it is or
you think it isn’t
you’re probably rightYou may joke, residentialwealth, but they already exist!!
Was it supposed to be a play on words when they called it a Brazilian Thong??? [biggrin]
Yep, and for us short stops who need all the extra height we can get; they are priceless!!! [biggrin]
What was this thread about?
(Better read the title and not be so lazy)Aus, your story reminds me of a similar one.
The IP I sold last year came back on the market about 6 to 7 months ago and is still not sold..scary how the price has dropped from the initial asking to where it is now.Its too close to the old purchase price that they are now trapped ( all offers are at or below the previous sale price)so the vendor will be out of pocket to the tune of stamp duty + agents commission…not good..
KPJust had valuation on my PPOR done and it has declined by $20,000 from 6 months ago.
That would be a good buy if yoy had prepared to wait for the downturn.Dom[biggrin]
grim! but then what is a valuation worth really? just have a talk to the valuer and I am sure they’ll bump it up $20k for you. Talk really nice and they may bump it up $100k. A house is only worth what someone will pay for it – and you can’t possibly predict who will walk through your front door when you put it on the market.
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
I have been house hunting in my area and have inspected several properties that have all been reduced in price,and i have a wider choice now compared to before christmas.
Prices are still dropping. The agent told me that these property owners are open to all offers.
Its great to have a wider choice. But i can only speak for my area.
This for me is a better time to buy and will be heavily investing over the coming year.Good luck everyone on your investing.
Dom[biggrin]
Sal,
Hang on, there’s a long way to go yet. If you’re looking for real value then Steve Navra’s rental reality is a good start. Given current yields are so crap, you’ll be hard pushed to find a property that meets his criteria though.
Also, spotting the bottom won’t be too hard. The market moves slowly. I reckon a good 2-3 years yet before we get there, but hey I’m just another crystal ball gazer. I posted a question on SS about whether to buy on the slide or the turn, and there was a lot of good information posted in reply on just how easy it is to spot the turn if you’re watching for it.
This link posted in another thread here by WayneL is also a bit of an eye opener…
http://tradingforaliving.netfirms.com/real_house_prices.htm
It shows rental yields below stock dividends, and median prices well above their long term trend. The market will, by necessity, correct these imbalances. We could be in for quite a long flat period…
Cheers,
Michael.My prediction is that property prices will decline by 50% because on my keyboard 5 and % are on the same key.
I have just negotiated to purchase a block of land for $30,000 less then what it was offered 2 months ago. This is to build my PPOR as my family is running out of room.
I will be renting my current property so this will give mee an other investment property for my portfolio.(is that Italian?)
Micheal you might be right or you might be wrong,and if so i will back you up all the way.
But past trends have undoubtly proven that property is far better then shares.
Dom[biggrin]
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