DON’T GET SUCKED IN BY MARKETING COMPANIES HYPING THINGS UP JUST TO SELL YOU A PROPERTY OVER PRICED.
I have seen this time and time again where people get sucked into the hype and buy the property 20 – 30k above market value and when they need to sell the property for various reasons they can loose out big time up to 50k within 6-12 months.Do your home work and talk to agents in the places you wish to buy and do your research.
They seem to be targeting the W.A. investors and or the Melbourne investors.
That’s my 2 cents the rest is free.
Aslam Sargeant
0408 730 295
[jerry]thanks for reporting for duty Sarge!!
appreciate the info,
hope yr well man!
luke“Don’t let yr character be impacted by yr surroundings, instead make yr character impact yr surroundings”
– Rachel Scott(17 yr old killed in columbine shooting 1999)http://rachelschallenge.com/Luke Taylor | Hope Property Investing
http://hopepropertyinvesting.com
Email MeProperty Support,Strategist and Buyers Agent
Any chance of some examples of this in Melbourne just so I know what to look out for etc?
Hi Bloggs
They target Melbourne with hyping up the values of Qld properties. I don’t want to name these compines but you can garentee if they are selling properties in South East Qld they will be over priced.
Your average brandnew 4 bedroom ensuite property with double lock up garage on 600 block should cost between 320 – 330k they are marking the properties up to 350k at the moment.
Thanks
Aslam Sargeant
0408 730 295There’s an old rule of thumb “if its too good to be true, then it usually is”.
I’m in Qld and I’ve been hearing the radio adverts lately saying how for “as little as $20pw you too can own an IP”
Yeah right….AmandaBS
http://www.propertydivas.com.au
FREE online Property Resources“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”
If you want to annoy these marketers then insist on getting an independant valuation, independant finance and independant legal advice (solicitor) rather than using the ones they recommend.
Comments are of a general nature and may not be relevant to your individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
I agree totally with Duckster, Sarge and Amanda.
If you find big, glossy ads and radio or tv coverage, or phone calls or door knocks of new developments, you need to ask yourself; who is paying for the ads and the sales people?
Clue: the developers aren’t.It is very easy to find out the value of properties in the area where the marketers want you to buy – find out the sold price of some recently sold, relatively new (less than 5 years old) properties similar to the ones that are being advertised. Because the sec/hand props are usually sold by real estate agents on the ‘open’ market, they will have sold at the more realistic market price.
The marketers may say that because it is brand new the property is worth more. Technically true, but not by much at all. For example; there are 2 properties for sale which are identical in every way, except one is 4 years old (and has been sold previously at true market value) and the other is brand new. The sec/hand prop is asking $200k, the new one is $250k.
You buy the new one, then after 1 year you need to sell due to financial hardship. Now you are selling a sec/hand house. The other sec/hand house has gone up $10k in value – it is worth $210k now.
In comparison, you 1 year old house is worth at best about $20k more than this – $230k. You have lost $20k (more when you factor in selling costs).This is simplistic, but fairly common nonetheless and the figures can be far worse.
Always use INDEPENDANT valuers, lawyers pest and building inspections and financial advice as Duckster says. The marketers will try to persuade you to use their guys (who are copping a sling).
Cheers,
Marc.
[email protected]“we get sent lemons; it’s up to us to make lemonade”
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