Australian Politics Forum - 'Worst ever' property dive after disasters

Lisa Jones

Gold Member

Offline

Australian Politics

Posts: 39047
Sydney
Gender: female

Re: 'Worst ever' property dive after disasters
Reply #165 - Mar 6^th, 2011 at 12:44pm

Amadd wrote on Mar 6^th, 2011 at 12:56am:

Quote:

Oh and I don't think I've mentioned it yet .. I bought a house today Grin

Good for you Lisa, you found a sucker Grin

I wonder what the outlandish mortgage is?

And I wonder what your financial risk is compared to his? Very minimal I'll bet.

Yes I knoww...sarcasm is the lowest form of wit, but the highest form of honesty.

Huh? You've totally lost me Amadd.

I found a sucker? WTF does that mean?

WTF is an "outlandish" mortgage in your books?

Financial risk?? What financial risk?

Highest form of honesty? Where?

Back to top

If I let myself be bought then I am no longer free.

HYPATIA - Greek philosopher, mathematician and astronomer (370 - 415)

IP Logged

Amadd Gold Member Offline Mo Posts: 6217	Re: 'Worst ever' property dive after disasters Reply #166 - Mar 6^th, 2011 at 12:46pm That's just my way of saying "congratulations," don't you know?
Back to top	IP Logged

Sir lastnail Gold Member Offline Australian Politics Posts: 30900 Gender:	Re: 'Worst ever' property dive after disasters Reply #167 - Mar 6^th, 2011 at 12:52pm Amadd wrote on Mar 6^th, 2011 at 12:46pm: That's just my way of saying "congratulations," don't you know? I could have sworn you were having a go at her
Back to top	"If you take out Saddam, I guarantee you that it will have enormous positive reverberations on the region..." - Benjamin Netanyahu in 1995 IP Logged

Lisa Jones

Gold Member

Offline

Australian Politics

Posts: 39047
Sydney
Gender: female

Re: 'Worst ever' property dive after disasters
Reply #168 - Mar 6^th, 2011 at 12:58pm

Sir lastnail wrote on Mar 5^th, 2011 at 5:55pm:

Lisa Jones wrote on Mar 5^th, 2011 at 3:21pm:

Yep and you're spot on Last Nail. We're still in a bubble .. FOR SURE!

I just got home 15 mins ago having attended 3 back to back auctions today. And ALL 3 auctions were full on. You couldn't get INTO the properties .. even as a registered bidder .. and there were many cashed up Asians with overseas $$$ at interest rates half our domestic rates bidding hard. Bottom line???

All 3 homes sold well above their reserve price!

The worst ever property dive eh? What a total load of croc!

If anything (ie given hands on real life experience and having checked out a few web sites) .. the trends show median house prices are RISING!

NB I am referring to the Sydney real estate domestic market <-- I keep saying this I know .. just in case anyone isn't aware.

Like I said that you would most likely be outbid by chinese dudes with access to a more generous banking system than ours Wink

It's the chinese money that is keeping the bubble inflated which is exactly what the Government wants Wink

When the FHOG was stopped the chinese money took over Wink

Dudd hedged his bets on the FHOG and chinese money and got what he wanted at the expense of people who have lived here all of their lives Sad

This sort of bullshit wouldn't happen in china simply because the chinese government doesn't want foreigner speculators to create property bubbles. The chinese are a lot smarter than us in a lot of ways !!

But I cannot see any housing bubble continue to be inflated indefinitely. It just never happens anywhere and Australia is no exception Sad

I agree.

An "adjustment" of some sort is definitely round the corner. I personally don't think that it's going to be a big one though.

And here's the thing .. if you've done your homework right ( ie not over-extended yourself by borrowing to the limit; bought POSITION<- NB not many people truly understand what this means unfortunately ) .. you should be able to ride the wave without too many problems.

Back to top

If I let myself be bought then I am no longer free.

HYPATIA - Greek philosopher, mathematician and astronomer (370 - 415)

IP Logged

Sir lastnail

Gold Member

Offline

Australian Politics

Posts: 30900
Gender: male

Re: 'Worst ever' property dive after disasters
Reply #169 - Mar 6^th, 2011 at 4:31pm

Lisa Jones wrote on Mar 6^th, 2011 at 12:58pm:

Sir lastnail wrote on Mar 5^th, 2011 at 5:55pm:

Lisa Jones wrote on Mar 5^th, 2011 at 3:21pm:

Yep and you're spot on Last Nail. We're still in a bubble .. FOR SURE!

I just got home 15 mins ago having attended 3 back to back auctions today. And ALL 3 auctions were full on. You couldn't get INTO the properties .. even as a registered bidder .. and there were many cashed up Asians with overseas $$$ at interest rates half our domestic rates bidding hard. Bottom line???

All 3 homes sold well above their reserve price!

The worst ever property dive eh? What a total load of croc!

If anything (ie given hands on real life experience and having checked out a few web sites) .. the trends show median house prices are RISING!

NB I am referring to the Sydney real estate domestic market <-- I keep saying this I know .. just in case anyone isn't aware.

Like I said that you would most likely be outbid by chinese dudes with access to a more generous banking system than ours Wink

It's the chinese money that is keeping the bubble inflated which is exactly what the Government wants Wink

When the FHOG was stopped the chinese money took over Wink

Dudd hedged his bets on the FHOG and chinese money and got what he wanted at the expense of people who have lived here all of their lives Sad

This sort of bullshit wouldn't happen in china simply because the chinese government doesn't want foreigner speculators to create property bubbles. The chinese are a lot smarter than us in a lot of ways !!

But I cannot see any housing bubble continue to be inflated indefinitely. It just never happens anywhere and Australia is no exception Sad

I agree.

An "adjustment" of some sort is definitely round the corner. I personally don't think that it's going to be a big one though.

And here's the thing .. if you've done your homework right ( ie not over-extended yourself by borrowing to the limit; bought POSITION<- NB not many people truly understand what this means unfortunately ) .. you should be able to ride the wave without too many problems.

You may have spoken to soon Lisa. I just saw this in todays Sunday Herald Sun

Quote:

Wattle Grove McKinnon (Victoria) - 3 bedroom & 2 bathroom Townhouse

Price quoted Pre-auction $660,000

Result - Passed in at $668,000

Negotiation failed and reserve was set at $720,000. It was a surprise result because the townhouse is located in the McKinnon school zone which is very sort after.

And might I add, sort after by the Chinese community Wink

bubble bubble toil and trouble Sad

Back to top

« Last Edit: Mar 6^th, 2011 at 4:38pm by Sir lastnail »

"If you take out Saddam, I guarantee you that it will have enormous positive reverberations on the region..." - Benjamin Netanyahu in 1995

IP Logged

Andrei.Hicks Gold Member Offline Australian Politics Posts: 23818 Carlsbad, CA Gender:	Re: 'Worst ever' property dive after disasters Reply #170 - Mar 6^th, 2011 at 4:39pm my parents just sold their apartment in QLD for 28% more than they paid to a fella who lives in Shanghai! $$$$$$$$$$$$$$$$ HAHAHAHA
Back to top	Anyone who lives within their means suffers from a lack of imagination - Oscar Wilde IP Logged

Sir lastnail Gold Member Offline Australian Politics Posts: 30900 Gender:	Re: 'Worst ever' property dive after disasters Reply #171 - Mar 6^th, 2011 at 4:47pm Andrei.Hicks wrote on Mar 6^th, 2011 at 4:39pm: my parents just sold their apartment in QLD for 28% more than they paid to a fella who lives in Shanghai! $$$$$$$$$$$$$$$$ HAHAHAHA what did they pay for it ?? $50,000 ?? that's how much it would be worth now if it was built on a flood plain
Back to top	« Last Edit: Mar 6^th, 2011 at 5:18pm by Sir lastnail » "If you take out Saddam, I guarantee you that it will have enormous positive reverberations on the region..." - Benjamin Netanyahu in 1995 IP Logged

Andrei.Hicks

Gold Member

Offline

Australian Politics

Posts: 23818
Carlsbad, CA
Gender: male

Re: 'Worst ever' property dive after disasters
Reply #172 - Mar 6^th, 2011 at 5:01pm

Sir lastnail wrote on Mar 6^th, 2011 at 4:47pm:

Andrei.Hicks wrote on Mar 6^th, 2011 at 4:39pm:

my parents just sold their apartment in QLD for 28% more than they paid to a fella who lives in Shanghai!

Wink

$$$$$$$$$$$$$$$$

HAHAHAHA

what did they pay for it ?? $50,000 ??

that's how much it would be worth now if it was built on a flood plane Wink

Is that a jet fuelled plane mate?
Boeing or Airbus?

And it was all above board and not in Brisbane.
Bought by a Chinese dude through his brother who lives in Oz. He's renting it out to students.

I told you there is money in investment property mate and you didn't listen to me!

Back to top

Anyone who lives within their means suffers from a lack of imagination - Oscar Wilde

IP Logged

Equitist

Gold Member

Offline

Australian Politics

Posts: 9632
NSW

Re: 'Worst ever' property dive after disasters
Reply #173 - Mar 6^th, 2011 at 5:13pm

Andrei.Hicks wrote on Mar 6^th, 2011 at 5:01pm:

Sir lastnail wrote on Mar 6^th, 2011 at 4:47pm:

Andrei.Hicks wrote on Mar 6^th, 2011 at 4:39pm:

my parents just sold their apartment in QLD for 28% more than they paid to a fella who lives in Shanghai!

Wink

$$$$$$$$$$$$$$$$

HAHAHAHA

what did they pay for it ?? $50,000 ??

that's how much it would be worth now if it was built on a flood plane Wink

Is that a jet fuelled plane mate?
Boeing or Airbus?

And it was all above board and not in Brisbane.
Bought by a Chinese dude through his brother who lives in Oz. He's renting it out to students.

I told you there is money in investment property mate and you didn't listen to me!

Approx. 5% in buying costs, approx. 5% in selling costs, holding and maintenance costs...hmmnnn...what do you estimate to be their nett capital gain?

BTW, how long did they hold it for?

Back to top

Lamenting the shift in the Australian psyche, away from the egalitarian ideal of the fair-go - and the rise of short-sighted pollies, who worship the 'Growth Fairy' and seek to divide and conquer!

IP Logged

Sir lastnail

Gold Member

Offline

Australian Politics

Posts: 30900
Gender: male

Re: 'Worst ever' property dive after disasters
Reply #174 - Mar 6^th, 2011 at 5:22pm

Andrei.Hicks wrote on Mar 6^th, 2011 at 5:01pm:

Sir lastnail wrote on Mar 6^th, 2011 at 4:47pm:

Andrei.Hicks wrote on Mar 6^th, 2011 at 4:39pm:

my parents just sold their apartment in QLD for 28% more than they paid to a fella who lives in Shanghai!

Wink

$$$$$$$$$$$$$$$$

HAHAHAHA

what did they pay for it ?? $50,000 ??

that's how much it would be worth now if it was built on a flood plane Wink

Is that a jet fuelled plane mate?
Boeing or Airbus?

And it was all above board and not in Brisbane.
Bought by a Chinese dude through his brother who lives in Oz. He's renting it out to students.

I told you there is money in investment property mate and you didn't listen to me!

and there is more money to made if you are Holden. The Government will give you lots of money for nothing just to keep your business going Wink

Back to top

"If you take out Saddam, I guarantee you that it will have enormous positive reverberations on the region..." - Benjamin Netanyahu in 1995

IP Logged

Sir lastnail

Gold Member

Offline

Australian Politics

Posts: 30900
Gender: male

Re: 'Worst ever' property dive after disasters
Reply #175 - Mar 6^th, 2011 at 5:24pm

Equitist wrote on Mar 6^th, 2011 at 5:13pm:

Andrei.Hicks wrote on Mar 6^th, 2011 at 5:01pm:

Sir lastnail wrote on Mar 6^th, 2011 at 4:47pm:

Andrei.Hicks wrote on Mar 6^th, 2011 at 4:39pm:

my parents just sold their apartment in QLD for 28% more than they paid to a fella who lives in Shanghai!

Wink

$$$$$$$$$$$$$$$$

HAHAHAHA

what did they pay for it ?? $50,000 ??

that's how much it would be worth now if it was built on a flood plane Wink

Is that a jet fuelled plane mate?
Boeing or Airbus?

And it was all above board and not in Brisbane.
Bought by a Chinese dude through his brother who lives in Oz. He's renting it out to students.

I told you there is money in investment property mate and you didn't listen to me!

Approx. 5% in buying costs, approx. 5% in selling costs, holding and maintenance costs...hmmnnn...what do you estimate to be their nett capital gain?

BTW, how long did they hold it for?

you can't believe a word of what hicks says. he is so full of it his eyes are turning brown !!

Back to top

"If you take out Saddam, I guarantee you that it will have enormous positive reverberations on the region..." - Benjamin Netanyahu in 1995

IP Logged

Andrei.Hicks

Gold Member

Offline

Australian Politics

Posts: 23818
Carlsbad, CA
Gender: male

Re: 'Worst ever' property dive after disasters
Reply #176 - Mar 6^th, 2011 at 5:25pm

Sir lastnail wrote on Mar 6^th, 2011 at 5:24pm:

Equitist wrote on Mar 6^th, 2011 at 5:13pm:

Andrei.Hicks wrote on Mar 6^th, 2011 at 5:01pm:

Sir lastnail wrote on Mar 6^th, 2011 at 4:47pm:

Andrei.Hicks wrote on Mar 6^th, 2011 at 4:39pm:

my parents just sold their apartment in QLD for 28% more than they paid to a fella who lives in Shanghai!

Wink

$$$$$$$$$$$$$$$$

HAHAHAHA

what did they pay for it ?? $50,000 ??

that's how much it would be worth now if it was built on a flood plane Wink

Is that a jet fuelled plane mate?
Boeing or Airbus?

And it was all above board and not in Brisbane.
Bought by a Chinese dude through his brother who lives in Oz. He's renting it out to students.

I told you there is money in investment property mate and you didn't listen to me!

Approx. 5% in buying costs, approx. 5% in selling costs, holding and maintenance costs...hmmnnn...what do you estimate to be their nett capital gain?

BTW, how long did they hold it for?

you can't believe a word of what hicks says. he is so full of it his eyes are turning brown !!

Mate it isnt me. It's my mum and dad's place.
I haven't made a red cent out of all this.

As regards Holden - yep I'd rather they got the grant. Aussie jobs mate. More important than anything.

Back to top

Anyone who lives within their means suffers from a lack of imagination - Oscar Wilde

IP Logged

Lisa Jones

Gold Member

Offline

Australian Politics

Posts: 39047
Sydney
Gender: female

Re: 'Worst ever' property dive after disasters
Reply #177 - Mar 6^th, 2011 at 5:27pm

Sir lastnail wrote on Mar 6^th, 2011 at 4:31pm:

Lisa Jones wrote on Mar 6^th, 2011 at 12:58pm:

Sir lastnail wrote on Mar 5^th, 2011 at 5:55pm:

Lisa Jones wrote on Mar 5^th, 2011 at 3:21pm:

Yep and you're spot on Last Nail. We're still in a bubble .. FOR SURE!

I just got home 15 mins ago having attended 3 back to back auctions today. And ALL 3 auctions were full on. You couldn't get INTO the properties .. even as a registered bidder .. and there were many cashed up Asians with overseas $$$ at interest rates half our domestic rates bidding hard. Bottom line???

All 3 homes sold well above their reserve price!

The worst ever property dive eh? What a total load of croc!

If anything (ie given hands on real life experience and having checked out a few web sites) .. the trends show median house prices are RISING!

NB I am referring to the Sydney real estate domestic market <-- I keep saying this I know .. just in case anyone isn't aware.

Like I said that you would most likely be outbid by chinese dudes with access to a more generous banking system than ours Wink

It's the chinese money that is keeping the bubble inflated which is exactly what the Government wants Wink

When the FHOG was stopped the chinese money took over Wink

Dudd hedged his bets on the FHOG and chinese money and got what he wanted at the expense of people who have lived here all of their lives Sad

This sort of bullshit wouldn't happen in china simply because the chinese government doesn't want foreigner speculators to create property bubbles. The chinese are a lot smarter than us in a lot of ways !!

But I cannot see any housing bubble continue to be inflated indefinitely. It just never happens anywhere and Australia is no exception Sad

I agree.

An "adjustment" of some sort is definitely round the corner. I personally don't think that it's going to be a big one though.

And here's the thing .. if you've done your homework right ( ie not over-extended yourself by borrowing to the limit; bought POSITION<- NB not many people truly understand what this means unfortunately ) .. you should be able to ride the wave without too many problems.

You may have spoken to soon Lisa. I just saw this in todays Sunday Herald Sun

Quote:

Wattle Grove McKinnon (Victoria) - 3 bedroom & 2 bathroom Townhouse

Price quoted Pre-auction $660,000

Result - Passed in at $668,000

Negotiation failed and reserve was set at $720,000. It was a surprise result because the townhouse is located in the McKinnon school zone which is very sort after.

And might I add, sort after by the Chinese community Wink

bubble bubble toil and trouble Sad

Last Nail .. you obviously don't know the Chinese community. Read back .. I've indicated by way of newspaper articles and personal experience exactly what types of properties they are after.

And believe you me .. they get what they want. They have the $$$$ at half the interest rates we Aussies can access. Make no mistake about that.

It's an absolute miracle I was able to come away as the successful bidder in ONE of the 3 back to back auctions I attended yesterday. As I stated earlier .. the competition is VERY fierce out there ... you can't get onto the property as a registered bidder on a/c of the people crawling around and good quality houses in awesome positions are selling above and beyond their reserve price.

Needless to say .. I've been conducting a 12 hr post-mortem over the whole thing ever since. I believe I did ok. I am of the opinion that I probably paid about 50K - 100K above the true worth of the house .. but given I was up against 2 Asian cashed up couples .. I did ok.

The fact is ... the house in question is absolutely lovely and in an awesome POSITION! And there was nothing else on the market that really grabbed me. The house stood out for me in a very big way. It's going to make money for me in the long term THANKS to its awesome position (mainly).

Again I probably should remind everyone .. whenever I talk real estate .. it is the Sydney domestic real estate market that I am referring to as THAT is my area of expertise.

Back to top

« Last Edit: Mar 6^th, 2011 at 5:51pm by Lisa Jones »

If I let myself be bought then I am no longer free.

HYPATIA - Greek philosopher, mathematician and astronomer (370 - 415)

IP Logged

Andrei.Hicks Gold Member Offline Australian Politics Posts: 23818 Carlsbad, CA Gender:	Re: 'Worst ever' property dive after disasters Reply #178 - Mar 6^th, 2011 at 5:29pm I am in favor of overseas investors being allowed to buy Australian property. This is capital coming INTO the country. Works for me.
Back to top	Anyone who lives within their means suffers from a lack of imagination - Oscar Wilde IP Logged

Lisa Jones Gold Member Offline Australian Politics Posts: 39047 Sydney Gender:	Re: 'Worst ever' property dive after disasters Reply #179 - Mar 6^th, 2011 at 5:36pm Andrei.Hicks wrote on Mar 6^th, 2011 at 5:29pm: I am in favor of overseas investors being allowed to buy Australian property. This is capital coming INTO the country. Works for me. Ok Andrei .. kindly tell us all how that works for you as an Australian citizen. You have the floor.
Back to top	If I let myself be bought then I am no longer free. HYPATIA - Greek philosopher, mathematician and astronomer (370 - 415) IP Logged