AussieHousePrices wrote:
fWord – that’s a ridiculous idea – to put in an offer 40% below current market value, because of the expectation that prices will be 40% cheaper some time down the track. Although if I wanted to buy, I would definitely be putting in offers around 5% less than 6 months ago. You could possibly argue that property bears…[Read more]

NEWSFLASH: To all the folk who believe that property prices will tumble 40% – prove it! Go to your nearest open-for-inspection tomorrow and drop in an offer at 40% less than the asking price, together with all your documentation that supports your theory.Who knows? The vendor might accept! It's been said before: talk is cheap. There are people out…[Read more]

It appears to me that the interest rates were increased merely in an attempt to control the rise of property prices, and they did this under the cover of trying to control inflation. If they keep raising the interest rates higher and the AUD continues to strengthen, we could very well see a recession. When the money stops moving, Australia will…[Read more]

xdrew wrote:
I've been watching too much CSI:Miami … I think if you check the age of the maggots you can probably work out which tenant is missing and for how long.I've been lucky .. i have seen most of the impossibles with rental property. The cupboard which opens to streaming cockroaches, the tenant with 9 cats who decides to leave them all…[Read more]

The strength of the Aussie dollar is to blame, at least in part. It's becoming a more expensive venture for people looking to migrate to Australia. If the dollar was allowed to exert its strength in a continued fashion, it would have profound deleterious effects (if not already) on retail, educational institutes and immigration rates.

Importantly, do you believe in the Residex estimate based on what you know about other properties for sale in the area, and recent sale prices? Would you consider putting in a lower offer instead of paying the full asking price?

Based on personal experience, my bank required that I have insurance on the house (and even insured to their set value) before I can get a loan from them. This is in Victoria.

DWolfe wrote:
Property development is not 9-5! So I can make time if I am passionate about something Yep totally slack, I should be a billionaire by now lol.D

Yeah, REAL investors don't frequent these forums on a regular basis. Get out there and get cracking!!

YIKES! Maggots coming through the carpet? Sounds like something out of a horror movie. Are the tenants sure that they're not termites? Has your property manager had a look at the house? Have you had a look at it personally? Was the place clean before they moved in? Is it clean now or is it just filthy and unkempt? This would determine who's…[Read more]

Wynyard, I tried dropping you a private message but found you were not accepting any of those. I noticed that you wanted to go coastal eventually and from what I understand, you can get a loan of $350K and have around $25K of savings? If this is the case, be very careful about taking the full loan of $350K from the bank, even if they're happy to…[Read more]

michaelandre70 wrote:
It could be 15 – 25 % at best. 

And 25% would be a good drop, turning a $500K property into a $375K bargain. And I'd like to believe this is possible. If such property is not in mortgage-belt areas and is in well-established suburbs with adequate amenity, those fence-sitters would do very well to buy.

Good day folks, great to see people are active in the property scene and also have much of a life outside of property. In case anyone would be interested to read this, here's my short story:Currently two months into a new job and things are settling down a little after what was a very busy time last year. In 2010 I moved out of my place in…[Read more]

MRW wrote:
may as well keep this discussion going.http://seekingalpha.com/article/246486-australia-the-last-epic-bubble-formulating-a-coherent-investment-strategyI have no idea who this guy is, whether what he says is valid or not. Interesting read though.Who knows!– Mark

Interesting read, and judging by the comments, there's a lot of people…[Read more]

god_of_money wrote:
fWordWe (JV with my auntie) bought 1+1 (70m2) apartment near somerset for A$850k few years ago… now it is worth nearly 1.2million+….so Aussie property is still cheap…

Somerset is probably close to what we'd call 'inner-city' in Singapore. Nevertheless, for $1.2mil, I'd rather be buying a nice house on a block of land…[Read more]

Wynyard wrote:
"prices in Singapore are highway robbery" Why are we in this position? Indeed, that is all news to me, thank you for lifting the wool from my eyes. In someways I'm glad to know we're not alone, it strengthens my feeling that we are all screwed – and that perhaps there could still be a revolution (several, a la Egypt). Maybe there…[Read more]

Wynyard wrote:
Thornbury, actually they seem pretty happy with the house, just not the location.

Well, they could have done a lot worse. Buying at $800K hoists them well out of the first home buyer territory, the sub-$500K houses that many first home buyers are either desperately trying to buy, or hoping to afford. I don't know Thornbury well,…[Read more]

Wynyard wrote:
I still think negative gearing and tax breaks for property investors, and even just the idea that property has become a source (or aspiration for) of massive profits, has changed the dynamic between rich and poor in Australia. I still think these factors, along with population growith has caused increased rents, and reduced the…[Read more]

Wynyard wrote:
My workmates just bought a $800K house and are not even thrilled with what they got – an okay house in an okay area … 'ok' isn't what we should get for $800K.

Geez, $800K for an 'ok' house in an 'ok' area? Where did they buy? I'd be very thrilled if I could afford to live in (ie. not buy and rent out as an IP) an $800K…

Wynyard wrote:
Geelong now more expensive than London! The report is a few days old, but in case you missed ithttp://smh.domain.com.au/real-estate-news/melbourne-housing-now-severely-unaffordable-20110125-1a396.html

Looking at that comment, I'd have to question if the article is referring to Geelong as a suburb or Geelong as an LGA. If the…[Read more]

For capital growth, perhaps buy the house on the bigger block.For better income and yield, take the renovated house on a smaller block.Of course, you could also buy the semi-reno'd house on the larger block and extend, build a granny flat to get dual occupancy or even subdivide to increase yield directly or indirectly. All this would be STCA…[Read more]