What do you think?
Has the Sydney market started to go well again ?
Anyone got any thoughts?[cigar][cigar][cigar][cigar]
I think there are still a number of desperate sellers. I am buying a property at around 21% under valuation. As a buyer, I think its a good time to be in the market. That said, some indicators are showing signs of recovery.
“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.†– Nelson Mandela
Not from what I am seeing with valuations etc. One of my properties has just dropped 12% comparing a Jan 2007 valuation with Jan 2006.
Terryw
Discover Home Loans
[email protected]
Send an email to get my newsletter.Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Originally posted by Terryw:Not from what I am seeing with valuations etc. One of my properties has just dropped 12% comparing a Jan 2007 valuation with Jan 2006.
Terryw
Discover Home Loans
[email protected]
Send an email to get my newsletter.How often do you have your properties revalued Terry, and what sort of cost is it?
Cheers,
Marc.
[email protected]“we get sent lemons; it’s up to us to make lemonade”
Yearly, and its free!!!!
Terryw
Discover Home Loans
[email protected]
Send an email to get my newsletter.Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
I think Sydney is still prohibitive. Although prices have dropped slightly it is still highly over priced. The property I bought for $370K in 2002 is worth $350K now. It is an apartment that too 32kms from the city! We have been looking to buy a house for over a year now keeping in mind a budget of 600-650K but have so far found nothing. So we have decided to invest in Victoria instead and live in a rented apartment till we make money off our invetsment properties to be able to afford a million dollar house in Sydney one day.
Interesting, I think the bottom has been reached.[cigar]
Originally posted by Terryw:Yearly, and its free!!!!
Terryw
Discover Home Loans
[email protected]
Send an email to get my newsletter.Hi Terryw,
So how do you get a free valuation? [blink] Do you mean by a licenced valuer or a RE agent?
Have a great day!
E.
Depending on which lender your loans are with, you might be able to get some done without charge – by a bank valuer.
Terryw
Discover Home Loans
[email protected]
Send an email to get my newsletter.Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Originally posted by Terryw:Depending on which lender your loans are with, you might be able to get some done without charge – by a bank valuer.
Terryw
Discover Home Loans
[email protected]
Send an email to get my newsletter.im guessing this would be apparent in slightly higher interest rates? is there a few banks who do this or is it just one??
if u could get it revauled for free each year wouldnt that be great for investors looking to redraw on the loan for more properties???
Interesting. out of 10 people I know who invest if property only 1 thinks Sydney is a good investment. Hmmmmmmmm [confused2]
i just remember some 90/10 rule.Originally posted by DaveA:Originally posted by Terryw:Depending on which lender your loans are with, you might be able to get some done without charge – by a bank valuer.
Terryw
Discover Home Loans
[email protected]
Send an email to get my newsletter.im guessing this would be apparent in slightly higher interest rates? is there a few banks who do this or is it just one??
if u could get it revauled for free each year wouldnt that be great for investors looking to redraw on the loan for more properties???
N
Hi Dave, no difference in rates, in fact cheaper rates if anything. I think many professional packs allow free valuations as part of the deal (annual fee involved).Terryw
Discover Home Loans
[email protected]
Send an email to get my newsletter.Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
so what would qualify you for a professional pack? certian borrowings amount, abn?, or just the willing ness to pay the fees??
i imagine MB jobs must be so difficult getting the best loan for people…
Dave,
these days just a willingness to pay the fees usually. Although there may be a min initial loan size of $150k to qualify, after that the discount depends on your overall borrowings, with the more you borrow the greater the discount.
Terryw
Discover Home Loans
[email protected]
Send an email to get my newsletter.Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Originally posted by Terryw:Dave,
these days just a willingness to pay the fees usually. Although there may be a min initial loan size of $150k to qualify, after that the discount depends on your overall borrowings, with the more you borrow the greater the discount.
ah great… nearly all loans would be 150k anyway…
in this case would it be worth while in having a few loans with the same company to get a bigger discount (as long as u didnt x colaterise them)
i dont know if you would want to disclose it, but how much roughly are the annual fees each year??
sorry about all the questions, but i just want to find as much out about loans as possible so when i come see you later in the year ill have some idea of what im actually talking about…
cheers
Yeah, its a usually a good idea to have a few loans with the one lender so you can get the bigger discounts. The annual fees are around $300-$400, but you usually get the app fees waived as well as any monthly fees etc.
Terryw
Discover Home Loans
[email protected]
Send an email to get my newsletter.Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
well if u had 200k of loans with a them and got a .25% reduction per year thats a $500 saving on interest anyway
is there anywhere where you can do a bit of reseach on this with out being a MB, any particular good sites…
sorry for the hijack though guys
Some lenders will allow a free evaluation yearly
Wayne
Mortgage Adviser
Email [email protected]
http://www.alphamortgagesolutions.com.au
First home buyers, investors, refinace, loan consolidation, equity loans, free service we come to you!
You must be logged in to reply to this topic. If you don't have an account, you can register here.
