1039374 views

0 Members and 1 Guest are viewing this topic.


Offline Aircon

  • Master Baiter 300kph+ club
  • Who said it couldn't be done?

  • Joined: Mar 2007

  • Drives: Pork
  • Location: Melbourne, Australia
  • Name: Peter
auction is definitely the way to go IMHO, it shows the true value of a house at the current market.

Nope.... Not always
I love my car. Buy your own



Offline amgsl55

  • Tooth hurty

  • Joined: Feb 2011

  • Location: Adelaide
Not in Adelaide. Melbourne and Sydney yes but in Adelaide I don't believe it achieves the best price for the seller.

depends where your reserve is set


Problem with real estate is that there is no real value, it all depends on the right buyer on the day.

Went to an auction a month ago, indicative was $575k, sold for $730k



Offline dodger

  • Tommy Gunna

  • Joined: Dec 2009

  • Location: Melbourne
Auction is the best way to go in this market especially, plenty of wankers not wanting to be embarrassed by being outbid.

Just because it's an auction doesn't mean you have to sell you can pass the property in and ask for a bit more from the high bidder after.

One thing to note, plenty of people out there think they're smart they have a 3br home in a good suburb now worth over $2m and they only paid $800k a few years ago BUT if they sell they still only have enough to buy a 3br home in a good suburb and the stamp duty is significantly higher.



Offline amgsl55

  • Tooth hurty

  • Joined: Feb 2011

  • Location: Adelaide
Auction is the best way to go in this market especially, plenty of wankers not wanting to be embarrassed by being outbid.

Just because it's an auction doesn't mean you have to sell you can pass the property in and ask for a bit more from the high bidder after.

One thing to note, plenty of people out there think they're smart they have a 3br home in a good suburb now worth over $2m and they only paid $800k a few years ago BUT if they sell they still only have enough to buy a 3br home in a good suburb and the stamp duty is significantly higher.

I've always believed you only sell property if you have another investment to put the money straight into.



Offline dodger

  • Tommy Gunna

  • Joined: Dec 2009

  • Location: Melbourne
I've always believed you only sell property if you have another investment to put the money straight into.

Or if you're highly leveraged and you sense a crash on the way  :eek:

Plenty of people out there on 100% interest only loans  :doh:



Offline Neru


  • Joined: Feb 2012

  • Location:
  • Drives:
Or if you're highly leveraged and you sense a crash on the way  :eek:

Plenty of people out there on 100% interest only loans  :doh:

That's the thing, people are buying now on interest only repayments thinking they are smart getting into the market now

Says interest payments are $1500 a month, therefore  $18000 annually or $180000 over 10 years in just repayments plus maintenance, rates, call it $250,000 over 10 years

Will the property be worth more than $250,000 in 10 years?




Offline dodger

  • Tommy Gunna

  • Joined: Dec 2009

  • Location: Melbourne
That's the thing, people are buying now on interest only repayments thinking they are smart getting into the market now

Says interest payments are $1500 a month, therefore  $18000 annually or $180000 over 10 years in just repayments plus maintenance, rates, call it $250,000 over 10 years

Will the property be worth more than $250,000 in 10 years?

More to the point will they be in negative equity in 12 months because that's when the bank will ask for a top up.....no cash ? Sell and  face the music.



Offline Fil-Ski


  • Joined: Feb 2009

  • Drives: 993TT
  • Location: Adelaide
Interest rates won't go up till 18 or 19.
The biggest risk for most borrowers so leveraged is loss of employment or reduced income.



Offline dodger

  • Tommy Gunna

  • Joined: Dec 2009

  • Location: Melbourne
Interest rates won't go up till 18 or 19.
The biggest risk for most borrowers so leveraged is loss of employment or reduced income.

2018 isn't far away.



Offline looney


  • Joined: Mar 2007

  • Drives: VW Beetle
Interest rates won't go up till 18 or 19.
The biggest risk for most borrowers so leveraged is loss of employment or reduced income.

just in time for my interest rates that i fixed in just before the rates went to record lows to come back to variable rates :(



Related Topics

  Subject / Started by Replies Last post
6 Replies
9889 Views
Last post Sat, 27 Oct, 2007 - 22:32
by andecorp
2 Replies
5764 Views
Last post Wed, 20 Feb, 2008 - 00:43
by PA
2 Replies
2160 Views
Last post Thu, 06 Feb, 2014 - 09:38
by Fil-Ski
132 Replies
31661 Views
Last post Thu, 17 Dec, 2015 - 00:03
by tdc911
Uber Real Estate

Started by dodger « 1 2 3 4 » Off Topic

37 Replies
8690 Views
Last post Mon, 31 Aug, 2015 - 21:24
by dodger


Latest Discussions

BOARD TOPIC MEMBER POSTED
[ Cars ] Help Me to Find Best Wedding Reception Venues Sydney? HIolemis1 Today at 14:04
[ Racing ] Australian GT series tdc911 Today at 13:01
[ British Cars ] RR Cullinan 360c Today at 11:12
[ BMW M Power ] BMW 8 Series Concept Alpinem3e92 Today at 09:49
[ Off Topic ] Teevee and moovees 360c Today at 01:02
[ Racing ] ADAC Nurburgring 24 Hours tdc911 Yesterday at 22:05
[ McLaren ] McLaren 720S mhh Yesterday at 21:24
[ Off Topic ] Music amgsl55 Yesterday at 21:03
[ Funny Cool Stoopid ] it's funny cause i'm drunk!! amgsl55 Yesterday at 19:37
[ McLaren ] OFFICIAL - MCLAREN P1 JBO Yesterday at 18:48