[phana007Member@phana007Join Date: 2005Post Count: 5]

May 15, 2008 - 1:56 am

I've been eyeing an area in Queensland for a while now. "Woodridge" Houses are 279,000 a week ago; I even had a letter in the mail from a Woodridge realestate agent ELDERS stating prices have dropped 10 – 15 % So sellers should be realistic about their asking price.

But I had a look online today 15 / 5 /2008 An the average new listing has shot up to 310,000 an some realestates are calling these houses a bargin.

I've looked back to the houses which are 279,000 an they still haven't sold! So I hit the pavement an asked around to find out the average house is taking about 60 days or more to sell. Quote "No ones walking through the door at the moment" MYAGENT realty said.

Do you believe some realestates are artificially inflating the prices?

[phana007Member@phana007Join Date: 2005Post Count: 5]

May 14, 2008 - 6:00 pm

I've looked up the " A B S" regarding "Housing Finance, Australia, Mar 2008 "

This is what i have found.

We In Australia have had a decrease in People taking out new loans. BUT

We have an increase in outstanding balances. "Does this mean Aussies are not paying off their debt?" Oh Oh..

Or have I simply misinterrperated this

QUOTE:

HOUSING LOAN OUTSTANDINGS

At the end of March 2008, the value of outstanding housing loans financed by authorised deposit-taking institutions was $718,696m, up $9,357m (1.3%) from the February 2008 closing balance. Owner occupied housing loans increased by $7,282m (1.5%) to $488,436m and investment housing loans increased by $2,075m (0.9%) to $230,260m.

Bank loans increased by $9,425m (1.4%) during March 2008 to reach a closing balance of $677,374m. Owner occupied housing loans of banks increased by $7,368m (1.6%) to $455,352 and investment housing loans increased by $2,057m (0.9%) to $222,022m.

[phana007Member@phana007Join Date: 2005Post Count: 5]

March 3, 2008 - 11:50 pm

From What I understand. To get a low doc loan you must have an ABN (Australian Business Number) For at least 1 year. Oh when you go for the loan you must sign a income declaration. The Tax man is watching low doc's very closely an if you say you've been earning this much on your declaration they will be checking if you have paid tax on that amount. Ok that' s me for now. cya

[phana007Member@phana007Join Date: 2005Post Count: 5]

January 17, 2008 - 5:38 pm

Name is "An Phan" I'm 27 an a learning investor.
I'm from Brisbane Queenland.
I do my own conveyancing an buying of propertys.
I'm not a property guru nore do i have heaps of propertys like steve. But I do have 3 propertys paid off. An at my peak I have owned 10 propertys.
If you would like to add me: [email protected]

[phana007Member@phana007Join Date: 2005Post Count: 5]

March 27, 2006 - 2:21 pm

Hi im new to posting so here it goes

Im a property invester who workes full time on arvo shift at a packing pallets distribution centre from 4pm to 12pm at night. this time gives me opportunity to view houses in the day and crunch the numbers in my lunch breaks at night.
After reading steves books, i don’t think i would have gone the distance and bought 5 houses when i originally only had a unit. I will buy another house this year which is my goal so if a “picker” can do it u can do it too.[cigar]