Be Advised - Property Values
 

http://www.smh.com.au/news/national/...234226918.html

I am sure many of you will have already read and understood this, however, please be careful and do not pay over the mark for properties, no matter what you think you can wear financially.

Re: Be Advised - Property Values
 

A few people have told us they missed properties because of the estate agent's scam of saying "an offer of $x has been put in to sell before auction" apparently in the hope that the prospective buyers in question would put in a higher offer. The prospective buyers then said oh well that counts us out, only subsequently to find that the property did indeed go to auction and sold for nothing like what the estate agents were claiming was offered prior to auction. Coincidence perhaps but it makes me wonder about the games estate agents here play. Friends of ours are looking in Sydney, having rushed back home from Melbourne late last year because they were being told prices were still running away. They are convinced prices are in fact coming down, having been to several auctions. Of course if you speak to estate agents its a different story they don't want anyone to think prices are going down.

Re: Be Advised - Property Values
 

A friend of ours here on the Northern Beaches is a property valuer working for the banks giving values for them to lend on... Prices are definitely dropping and the times that he agrees with a valuation from an agent at the moment is almost nil...

Re: Be Advised - Property Values
 

A friend of ours works for westbank in sydney and she predicted it a while back, last time i said this i was virtually laughed at :rofl:, so maybe it coule be true:ohmy:

Re: Be Advised - Property Values
 

Ah - this is beautiful to hear for those of us not there yet.

I keep hearing about the spiralling upwards prices and mortage rates. At least if the housing prices are stabling, then I might be able to save more and not rush into buying for fears of the prices raising before I can raise the cash!

Yay - although not so good once I am on the property ladder...... omg!!!

Re: Be Advised - Property Values
 

Looks like their are some good bargains to be had. One man's misfortune.....

Re: Be Advised - Property Values
 

Its such a shame when people lose their homes like that - i remember it happening here - people where going round others houses in droves seeing what little extras they could get as well coz people were so desperate to sell before they were repossessed.
I heard of one house which had been repossessed were they had stripped it completely - kitchen cupboards, bathroom suite, the light switches and plug sockets - someways i dont suppose you can blame them theyve paid for it - and it was snatched up straight away as it was a bargain to someone :eek:.

Re: Be Advised - Property Values
 

and then you read this article from today...

Property sales defy interest rate rises
http://www.news.com.au/business/stor...l?from=mostpop

According to Australian Property Monitors, Sydney had 113 auctions on Saturday, recording 68 sales totalling $45.4 million. A year ago, Sydney had 97 auctions totalling $28.9 million. Saturday's 57.6 per cent clearance rate was up from 52.8 per cent the previous weekend.

and this...
House prices up 3.2%, more rises tipped
http://news.smh.com.au/house-prices-...0204-1pyn.html

"Despite rate rises, the housing sector will continue to trend upward."
Growing migration and an accommodation shortage were likely to keep pushing up house prices.
"We're seeing ... strong rental growth and record vacancy rates.
"Prices are reflecting that. Demand will continue to outrun supply."


So depending on who you want to believe, you can read whatever, or listen to whoever you want ;-)

Re: Be Advised - Property Values
 

with intrest rates today predicted to rise to 10% over the next two years there should be plenty of defaults in the auction market in the very near future, as unfortnutly a high percentage of people extend themselves to the limit only to get burnt when the rates rise ;)

Re: Be Advised - Property Values
 

.....and investment properties being desperately liquidated.

Re: Be Advised - Property Values
 

i read yesterday that there was a load of auctions over the past week in perth and none of them went passed the reserve price.

i know of one house where i live that is over priced it was up for $590,00 however no one looked at it it then went to $565,000 and we offered $530,00 for it they said yes to that then just as we were going to sign they pulled out of the deal.that was in november 07

they then changed agents and put the house on the market for $550,00 and noone has been interested in it spoke to that agent but we were unwilling to put in offer - agent said we would lose the house if we didn't and were we prepared for that - i said yes (early Jan)

this weekend i spoke to another agent who knew of the house and couldn't believe that they turned down our offer.


today agent from this weekend is taking over the house and they will take offers of (from me) $530,00 aparently they want to sell the house to us now !!!! think it has more to do with the fact that no one else is interested in house rather than us personally

will know by wed what the deal is regarding the house

the saga continues .....................

Re: Be Advised - Property Values
 

An agent tried a similar thing here with us is Sydney. Told us they had a higher offer, we said fine sell it to them then but that offer didn't exist (as we had guessed). A few months later they finally sold it for less than we had offered.

Re: Be Advised - Property Values
 

Sure, but I doubt there are many that would listen to a crappy newspaper than to someone at the sharp end...

Re: Be Advised - Property Values
 

forgive me a snigger, :p but news.com.au is a murdoch comic website, same as the channel 7, 9 and 10 "info-news-tainment" rubbish, it's tosh, inaccurate, uninformative, speculative, sensationalist and rubbish.


Anyone who cares to find out real issues , proper facts and independent commentary can read the smh.com.au (with care), or the age (with less care) and watch either the ABC or SBS, the rest of the commercial stations and nooze-papers are frankly insulting.

Re: Be Advised - Property Values
 

In which case offer them less than 530 - afterall they have messed you around, try going in with a lower offer and see if they will bite - cite the fact that mortgage rates have gone up since you made your original offer and now it's going to cost you more every month because they faffed around.;)