Any property gurus? - Page 4

zilo · 19-12-2013, 02:17 AM

Quote:

Originally Posted by ford man xf

People would remember the House prices thread, which was around 3 years ago, all the doomsayers claimed the end was near and the bubble would burst, a whole heap of economic turmoil has happened since then, where did house prices go? Up! Even if there is a property crash, it's not like prices will plummet $100,000's of dollars (which is what the doomsayers want because they want to get into the market) the market may cool off and values will stay stagnant until things pick up again.

No mate, house prices haven't gone up.

I just paid 800k for a place advertised in 2010 for 1.65m

Also a block advertised for $155k I negotiated to 85k.

It's good to have cash at the moment.

stevz · 19-12-2013, 07:52 AM

Quote:

Originally Posted by zilo

No mate, house prices haven't gone up.

I just paid 800k for a place advertised in 2010 for 1.65m

Also a block advertised for $155k I negotiated to 85k.

It's good to have cash at the moment.

No, you're wrong, that can't be, that's impossible! Property only goes up, it never goes down! You're guaranteed to double your money with property!

Listening to some of these spruikers trying to justify this ponzi scheme is like listening to a used car salesman trying to pass a clapped out ex taxi as a quality low km used car.

nuthin' fancy · 19-12-2013, 07:57 AM

Quote:

Originally Posted by FPV414

Looking to make an entry in to the property market at the moment, as I've just finished taking care of some debts for the old lady. I don't want to make the same mistakes Mother dear did and end up owing a fortune on something that I'll make a loss on or no benefit in the future. She had a failed business venture for which she mortgaged the house.

Anyways I have about $400k to spend, and I will (technically, long story) have a deposit of around $80k (20%, to avoid LMI).

I have three options that I am considering. I really am looking to move out of the family home ASAP and my ideal location is Inner East of Melbourne (Toorak, Prahran, South Yarra, Richmond etc.).

Option 1: Buy a 1 bedroom modern apartment in the above-mentioned areas for around $370k (if I wait long enough I can find one for that I reckon). Cons with that is that you have no land value, will be paying body corporate and in future it won't appreciate the same as something with a bit of land value (or so I'm told).

Option 2: Obviously $370-400k doesn't buy much out there, so I was thinking I could just buy a property out near where I live (outer East, Lilydale area), move the old lady in to that, rent the old property (current house) out and that would cover most of the mortgage and the rest I'd put in from my pocket. Then I'd rent in the area I want to live I'm told the old adage goes "Buy where you can afford and rent where you want to live". I can't see any cons with this, except for the fact I'd be paying rent and a little for a mortgage - and I may have trouble to find a property in my price range.

Option 3: A friend has offered to buy a commercial property with me so we can tinker with cars etc. there. That'd be a good entry in to the real estate market and to obviously build equity off so that I can buy more property in future. Cons, unsure..

What are your thoughts guys? Bit confused as to which is the most productive path.

Any good forums or websites or reads anyone can link me to?

Thanks.

Hi FPV,

The original question has become a little side tracked. Did you get some useful info?

zilo · 19-12-2013, 10:46 AM

buy in Geelong mate, much better value for the mortgage dollar.

a 3-400k mortgage would personally give me many sleepless nights...

Yellow_Festiva · 19-12-2013, 12:34 PM

Quote:

Originally Posted by zilo

No mate, house prices haven't gone up.

I just paid 800k for a place advertised in 2010 for 1.65m

Also a block advertised for $155k I negotiated to 85k.

It's good to have cash at the moment.

Property is a medium to long term investment.

What did the 800k / 85k property trade at prior to your purchase, and the one prior to that?

GASWAGON · 19-12-2013, 02:40 PM

Quote:

Originally Posted by zilo

buy in Geelong mate, much better value for the mortgage dollar.

a 3-400k mortgage would personally give me many sleepless nights...

Ye buy in Geelong thers plenty of work at the Ford factory........for about 3 more yrs........lol!

ford man xf · 19-12-2013, 07:27 PM

Quote:

Originally Posted by zilo

No mate, house prices haven't gone up.

I just paid 800k for a place advertised in 2010 for 1.65m

Also a block advertised for $155k I negotiated to 85k.

It's good to have cash at the moment.

Wow, you got real lucky, everywhere I was looking has gone up, I could have purchased cheaper if I purchased back then.

zilo · 19-12-2013, 10:59 PM

Quote:

Originally Posted by EF_6

Ye buy in Geelong thers plenty of work at the Ford factory........for about 3 more yrs........lol!

Quicker commute from Geelong to Melb than Pakenham or Narre Warren matey.

But don't shout it out too loud, might raise prices here.

Can still buy a house for mid 200k with zero traffic lights to the westgate bridge in Geelong suburbs.

stevz · 19-12-2013, 11:05 PM

Quote:

Originally Posted by zilo

Quicker commute from Geelong to Melb than Pakenham or Narre Warren matey.

But don't shout it out too loud, might raise prices here.

Can still buy a house for mid 200k with zero traffic lights to the westgate bridge in Geelong suburbs.

I doubt that. Princes/Westgate freeway is just as bad if not worse than the Monash most mornings.

zilo · 19-12-2013, 11:16 PM

Quote:

Originally Posted by stevz

I doubt that. Princes/Westgate freeway is just as bad if not worse than the Monash most mornings.

I've lived the dream on both sides and you are wrong.

If you want to put your money on it I can upload the in car videos showing traffic banked to Laverton with road works versus Pakenham with no road works at all?

nuthin' fancy · 20-12-2013, 08:22 AM

Quote:

Originally Posted by stevz

I doubt that. Princes/Westgate freeway is just as bad if not worse than the Monash most mornings.

Stevz,

Do you just take the opposite side for the sake of the argument? The OP said the were many opportunities for a purchase at $250k with no traffic lights to the Westgate Bridge, somehow you want to dispute it.

The Geelong market is pretty healthy. In the Deakin Uni precinct, there are many $m being spend on development of the Uni, hospitals, manufacturing. In the scheme of things, the loss of 500 jobs at Ford (and I accept the number will be higher once the snowball effect of the closure is taken into account) is not the problem it would have been 20 years ago.

The continuation of the duplication of the Princes Hwy out to Winchelsea and the positive effect of the road already completed around Geelong has a positive effect too. Areas like Winchelsea, Inverleigh and Bannockburn have seen improvement in prices and development.

The commute from Geelong to Melbourne suffers some traffic congestion, no worse and no better than the other side of town. However, I drop my brother to Tullamarine every third Wednesday, congestion at 9am on the Western Ring Road only every second or third trip.

I'm prejudiced, born and bred in Cattown but life if good here. I'm in 3216, 15 minutes from town, 15 minutes from truly great beaches, 15 minutes from the bush.

Stefan · 20-12-2013, 08:51 AM

Quote:

Originally Posted by nuthin' fancy

Stevz,

Do you just take the opposite side for the sake of the argument? The OP said the were many opportunities for a purchase at $250k with no traffic lights to the Westgate Bridge, somehow you want to dispute it.

Holden owner on a ford forum....

stevz · 20-12-2013, 10:21 AM

Quote:

Originally Posted by nuthin' fancy

Stevz,

Do you just take the opposite side for the sake of the argument? The OP said the were many opportunities for a purchase at $250k with no traffic lights to the Westgate Bridge, somehow you want to dispute it.

No. My comments were based on personal experience of traveling both routes.
Not only is Geelong further from Melbourne than Pakenham, but the traffic usually hits a brick wall from as far back as Werribee, which from this point is a painful crawl all the way into the city.
IMO you would be crazy to drive into the city d in either of those places. Spending up to 4 hours a day in stressful traffic + fuel + wear and tear on your car? No thanks, I would either catch the train or find work closer to home.

stevz · 20-12-2013, 10:36 AM

http://theage.domain.com.au/real-est...219-2zmbn.html

What is wrong with this picture?

Chinese investors are paying up to $200,000 over market value for properties sight unseen.
All this is doing is contributing to the ever inflating bubble and locking Australians out of their own property market.
This needs to be stopped immediately. Why are our governments sitting back and allowing greedy foreign investors to use our housing as a pawn in their game?

XW-BAXR6T · 20-12-2013, 10:46 AM

Quote:

Originally Posted by stevz

Why are our governments sitting back and allowing greedy foreign investors to use our housing as a pawn in their game?

Because they too busy filling their own pockets with $$$. They all in it for them self's, everyone of them. So would you if you were in their position.

Power corrupts pure & simple.

stevz · 20-12-2013, 11:40 AM

Quote:

Originally Posted by XW-BAXR6T

Because they too busy filling their own pockets with $$$. They all in it for them self's, everyone of them. So would you if you were in their position.

Power corrupts pure & simple.

That's right, our government officials sit back and line their pockets while foreigners exploit and rape this country for all its worth.
I thought governments were supposed to govern in the interests of the Australian people, not foreigners, or is that a concept that went out the window years ago?
Whether it be immigration, free trade agreements, foreign investment policies etc etc we get screwed at every turn. What a fantastic legacy is being left to our future generations.

zilo · 20-12-2013, 01:13 PM

Quote:

Originally Posted by stevz

No. My comments were based on personal experience of traveling both routes.
Not only is Geelong further from Melbourne than Pakenham, but the traffic usually hits a brick wall from as far back as Werribee, which from this point is a painful crawl all the way into the city.
.

Prove it?

stevz · 20-12-2013, 01:29 PM

Quote:

Originally Posted by zilo

Prove it?

http://werribee.starcommunity.com.au...traffic-choke/

Quote:

Mr Rowley said traffic congestion was costing Melbourne’s economy countless dollars.
“It’s not just the Westgate Bridge, it’s the Westgate Freeway. Often the traffic is banked up from the bridge to Hoppers Crossing,” he said.

Dash_XR · 20-12-2013, 02:42 PM

Princess is bad but not as bad as Monash, it will get worse though cause we have more estates going up in the west.

Quote:

Originally Posted by stevz

http://theage.domain.com.au/real-est...219-2zmbn.html

What is wrong with this picture?

Chinese investors are paying up to $200,000 over market value for properties sight unseen.
All this is doing is contributing to the ever inflating bubble and locking Australians out of their own property market.
This needs to be stopped immediately. Why are our governments sitting back and allowing greedy foreign investors to use our housing as a pawn in their game?

Who cares about housing, they are buying up all our food production land and company's too and the governments change laws to make it easier for them when locals oppose. I'd be more worried about that. Maybe Australia is destined to become china's food factory? It's a shame they won't hire Aussies to run it either.

stevz · 20-12-2013, 05:31 PM

Quote:

Originally Posted by Dash_XR

Who cares about housing, they are buying up all our food production land and company's too and the governments change laws to make it easier for them when locals oppose. I'd be more worried about that. Maybe Australia is destined to become china's food factory? It's a shame they won't hire Aussies to run it either.

Yes it's shocking, yet the Australian public are seemingly powerless to do anything about it.

zilo · 20-12-2013, 07:23 PM

Quote:

Originally Posted by stevz

http://werribee.starcommunity.com.au...traffic-choke/

Hoppers crossing is a long way from Werribee.

I guess geography ain't your strongest point?

nuthin' fancy · 20-12-2013, 07:25 PM

Quote:

Originally Posted by zilo

Hoppers crossing is a long way from Werribee.

I guess geography ain't your strongest point?

They are adjacent suburbs (not that I really want to support Stevz' arguments).

zilo · 20-12-2013, 07:32 PM

Quote:

Originally Posted by nuthin' fancy

They are adjacent suburbs (not that I really want to support Stevz' arguments).

Yeah...know where Werribee is...

But an exageration is an exageration and needs to be nipped in the bud.

stevz · 20-12-2013, 07:59 PM

Which is why I said "as far back as Werribee" meaning "it has the potential to" or "sometimes but not all the time"
And as stated, they are adjacent suburbs, there is bugger all between them.

Talk about clutching at straws.

zilo · 20-12-2013, 10:11 PM

Quote:

Originally Posted by stevz

Which is why I said "as far back as Werribee" meaning "it has the potential to" or "sometimes but not all the time"
And as stated, they are adjacent suburbs, there is bugger all between them.

Talk about clutching at straws.

yeah sure..me clutching at straws?..

another 5klms of extra traffic is only a further 20% exaggeration in the overall distance by you..

You are exaggerating, it is NEVER as far back as Werribee and your pitiful "source" doesn't say it...only you do.

You've been caught out with BS so why bury yourself any further?

stevz · 20-12-2013, 10:17 PM

Quote:

Originally Posted by zilo

yeah sure..me clutching at straws?..

another 5klms of extra traffic is only a further 20% exaggeration in the overall distance by you..

You are exaggerating, it is NEVER as far back as Werribee and your pitiful "source" doesn't say it...only you do.

You've been caught out with BS so why bury yourself any further?

Whatever... I've seen it with my own eyes but that's obviously not a good enough source for you.
Anyway I'm done arguing over pointless petty things.

nuthin' fancy · 21-12-2013, 12:17 AM

Quote:

Originally Posted by stevz

Anyway I'm done arguing over pointless petty things.

So you're leaving the forum, then?

nuthin' fancy · 21-12-2013, 10:15 AM

Quote:

Originally Posted by zilo

Yeah...know where Werribee is...

But an exageration is an exageration and needs to be nipped in the bud.

Your sarcasm was too subtle for me.

**buggerlugs** · 21-12-2013, 04:31 PM

Quote:

Originally Posted by nuthin' fancy

So you're leaving the forum, then?

Beat me to it ya bugger...................

Syndrome · 21-12-2013, 04:55 PM

Quote:

Originally Posted by FPV414

Looking to make an entry in to the property market at the moment, as I've just finished taking care of some debts for the old lady. I don't want to make the same mistakes Mother dear did and end up owing a fortune on something that I'll make a loss on or no benefit in the future. She had a failed business venture for which she mortgaged the house.

Anyways I have about $400k to spend, and I will (technically, long story) have a deposit of around $80k (20%, to avoid LMI).

I have three options that I am considering. I really am looking to move out of the family home ASAP and my ideal location is Inner East of Melbourne (Toorak, Prahran, South Yarra, Richmond etc.).

Option 1: Buy a 1 bedroom modern apartment in the above-mentioned areas for around $370k (if I wait long enough I can find one for that I reckon). Cons with that is that you have no land value, will be paying body corporate and in future it won't appreciate the same as something with a bit of land value (or so I'm told).

Option 2: Obviously $370-400k doesn't buy much out there, so I was thinking I could just buy a property out near where I live (outer East, Lilydale area), move the old lady in to that, rent the old property (current house) out and that would cover most of the mortgage and the rest I'd put in from my pocket. Then I'd rent in the area I want to live I'm told the old adage goes "Buy where you can afford and rent where you want to live". I can't see any cons with this, except for the fact I'd be paying rent and a little for a mortgage - and I may have trouble to find a property in my price range.

Option 3: A friend has offered to buy a commercial property with me so we can tinker with cars etc. there. That'd be a good entry in to the real estate market and to obviously build equity off so that I can buy more property in future. Cons, unsure..

What are your thoughts guys? Bit confused as to which is the most productive path.

Any good forums or websites or reads anyone can link me to?

Thanks.

dave289 was the property guru on APF.