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  1. #61
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    What state are you buying in? We've given up looking in Sydney! It's a joke, families are being priced out of the market.

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    Quote Originally Posted by waterlily View Post
    It's funny because in Tassie no one pays above asking asking price! You always list it for MORE then you want here.

    I'd hate to be buying in Sydney. As much as I loved living there the housing market is just crazzzzy!
    That's how it is in the UK too, buyers always offer below the asking price and work their way up.

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    LaDiDah  (12-07-2015)

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    Quote Originally Posted by Qrazelna View Post
    Isn't this underquoting?
    I saw this in the news recently http://m.smh.com.au/nsw/prestige-pro...10-gi8z90.html
    When you list a house, on the agency agreement the owner signs, you have to state a price , based on recent sales, what the agents estimate is ( you need at least 3 recent sales data to substantiate this for fair trading protocol ) if the agent quotes a price lower either written or verbally then yes it's under quoting and they will be prosecuted ( it's easy to check as you just show your agreement) but if the price they are quoting is the one they have written on the agreement then no they are not under quoting, the market is just going higher!

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    azelqra  (12-07-2015)

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    Quote Originally Posted by Lil M View Post
    What state are you buying in? We've given up looking in Sydney! It's a joke, families are being priced out of the market.
    Not far from Sydney - lots of investors with low interest rates. Where lots of families are buying here there are literally no schools and everyone has to drive their kids 1/2 hour to school and any other thing in their life. We worked out that the cost in fuel for us would be huge as DH also works further south.

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    I just found a "good-un". We didn't look at this house as it was too big in land size for us to look after - just came up as sold. Here's some details - what do you think?

    It had the asking price of offers over $630k even though it had previously sold for $655k in 2012.

    Sold $712,500
    Last edited by Little Ted; 12-07-2015 at 13:56.

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    Quote Originally Posted by Little Ted View Post
    Not far from Sydney - lots of investors with low interest rates. Where lots of families are buying here there are literally no schools and everyone has to drive their kids 1/2 hour to school and any other thing in their life. We worked out that the cost in fuel for us would be huge as DH also works further south.
    I would love @Elijahsmums take on this as it may just be different in SA, but investors get a bad wrap! I'm an investor and for a property to make sense I need to see a decent profit in 1-3 years of buying the house or we won't buy it. For an investor the numbers need to stack up, there's no emotion involved, so we stop when the risk is too high and profits too low. The same can't be said for owner occupies who love a house.

    Realistically for me low interest rates aren't pushing me to invest, as I'll sell my investments within 3 years, as long as rent covers the mortgage or near enough I'll go for it. Interest rates have dropped bit rents haven't so interest rates dropping aren't even in my decision making process

    But maybe it's different in Sydney.

    I bid on a house last weekend and our max was $375k. It would have been value up to $400 but it was a risky but at that. So I stopped at $375k and it sold for $426. I crunched the numbers and I can almost guarantee the mum and 7 year old daughter were going to live there as investment wise, there wasn't enough money to be made - $426 was an emotional purchase, something I couldn't allow myself to do.

  9. #67
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    I don't think investors are getting a bad wrap here - it's just who the majority of buyers are due to the market swinging upwards. We are also considering an investment purchase soon if we can't get a family home as we have no where for our savings to make any money.

    A house we looked at yesterday I think we will walk away from as the rental price is set at $100 below the .001% of the purchase price which seems really low to us - what do you think?

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    Default Have you ever gazumped someone in real estate?

    most of my investors won't buy in this kind of market as its over inflated ( too risky for short term capital growth) and the rental returns are too low and yes most investors don't get emotionally attached so are not the ones that go crazy at an auction

    In our area the average sale price is $1,000,000 and the average rent is $600 per week , Id say maybe 1 out of ten buyers are investors - we sell in an area with not many units but in other areas where there are literally thousands of units the majority of those buyers are investors

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    Little Ted  (12-07-2015)

  12. #69
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    Quote Originally Posted by Little Ted View Post
    I don't think investors are getting a bad wrap here - it's just who the majority of buyers are due to the market swinging upwards. We are also considering an investment purchase soon if we can't get a family home as we have no where for our savings to make any money.

    A house we looked at yesterday I think we will walk away from as the rental price is set at $100 below the .001% of the purchase price which seems really low to us - what do you think?
    What's the house price and estimated rental?

  13. #70
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    Quote Originally Posted by Elijahs Mum View Post
    What's the house price and estimated rental?

    Price will be at least $620k with a rental return of around $530.
    I thought Sydney rent would be higher than the $600 - here rent seems to start at $500 for a small brick house and $650-$750 would be for a family home in town.


 

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