Hi,
Over the past few weeks we have been looking at adapting our property investing to a cooling market.
Steve McKnight has provided some interesting analysis in the form of three articles:
a. What's likely to happen to property prices over the rest of the year
b. Five strategies to increase profits in a cooling market
c. Five strategies to reduce risk in a cooling market.
You can access these articles at the links above.
Steve's articles are great, but we'd like to know what you think will happen to property coming into the election in August, as well as any comments you would like to make about the market generally. Furthermore, if you'd like Steve to answer any specific question you have (or else clarify something you are not sure about in his articles), make your post here and we'll do our best to get Steve to reply.
– Admin
Hi All
After reading Steve's 5 Don'ts – Steve/Anyone else – does this mean it's a bad idea to buy an off-the plan property?
I note that with off-the plan purchases, one needs to have the finance approval at the time of purchase as well as at the time of settlement. It's a deposit of money sitting there doing nothing in a trust account and if one's financial situation changes at the time of settlement, obtaining finance to fund the purchase could be difficult. And the rental estimate provided by marketers of off-the plan property are speculative, because one is guessing/estimating rental amounts in a future market.Would you agree?
Thanks.
Shirley
Hi All
After reading Steve's 5 Don'ts – Steve/Anyone else – does this mean it's a bad idea to buy an off-the plan property?
I note that with off-the plan purchases, one needs to have the finance approval at the time of purchase as well as at the time of settlement. It's a deposit of money sitting there doing nothing in a trust account and if one's financial situation changes at the time of settlement, obtaining finance to fund the purchase could be difficult. And the rental estimate provided by marketers of off-the plan property are speculative, because one is guessing/estimating rental amounts in a future market.Would you agree?
Thanks.
Shirley
Hi All
After reading Steve's 5 Don'ts – Steve/Anyone else – does this mean it's a bad idea to buy an off-the plan property?
I note that with off-the plan purchases, one needs to have the finance approval at the time of purchase as well as at the time of settlement. It's a deposit of money sitting there doing nothing in a trust account and if one's financial situation changes at the time of settlement, obtaining finance to fund the purchase could be difficult. And the rental estimate provided by marketers of off-the plan property are speculative, because one is guessing/estimating rental amounts in a future market.Would you agree?
Thanks.
Shirley
Still too young to have a full cycle under my belt. I was about 15 during the early 90,s. What i do remember from that time was entering the workforce as an apprentice carpenter. Lost my job due to work drying up. Even my boss had to sell his house. I remember my dad complaining about high rates although it never really sunk in to me what it meant. House values started registering when my old man sold his house early 2000. He complained how he bought it in the early 90,s and he had seen bugger all growth the whole time.His house boomed the next year but luckily he bought into the sunshine coast before the same happened.
What im getting at is many around me who have been around a few decades say it feels the same. That we might be heading into an early 90,s situation. Not a bad thing as long as you are ready for it. We all know what happed at the end of that flat spot.
Still too young to have a full cycle under my belt. I was about 15 during the early 90,s. What i do remember from that time was entering the workforce as an apprentice carpenter. Lost my job due to work drying up. Even my boss had to sell his house. I remember my dad complaining about high rates although it never really sunk in to me what it meant. House values started registering when my old man sold his house early 2000. He complained how he bought it in the early 90,s and he had seen bugger all growth the whole time.His house boomed the next year but luckily he bought into the sunshine coast before the same happened.
What im getting at is many around me who have been around a few decades say it feels the same. That we might be heading into an early 90,s situation. Not a bad thing as long as you are ready for it. We all know what happed at the end of that flat spot.
Still too young to have a full cycle under my belt. I was about 15 during the early 90,s. What i do remember from that time was entering the workforce as an apprentice carpenter. Lost my job due to work drying up. Even my boss had to sell his house. I remember my dad complaining about high rates although it never really sunk in to me what it meant. House values started registering when my old man sold his house early 2000. He complained how he bought it in the early 90,s and he had seen bugger all growth the whole time.His house boomed the next year but luckily he bought into the sunshine coast before the same happened.
What im getting at is many around me who have been around a few decades say it feels the same. That we might be heading into an early 90,s situation. Not a bad thing as long as you are ready for it. We all know what happed at the end of that flat spot.
You must be logged in to reply to this topic. If you don't have an account, you can register here.
