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  1. #81
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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?
    I meant investors in the general population / media get a bad wrap. I agree with @AliJahsmum, 4% + is good IMO. When interest rates go up rents will rise again.

    I'm so glad we are in Adelaide where there's growth but it's not ridiculous. Have you thought of investing here? I can see our market slowing but not crashing.

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    Quote Originally Posted by LaDiDah View Post
    If people are willing to offer more then that's fine, but just say straight out - this is what we want. Then people can do the whole bidding war of they decide to. I'm from the UK so I'm used to offering way under the price and then haggling upwards, not this whole 'here's what we want but not really cause we'll only take loads more but we won't tell you what because we want your best offer and you only get once chance to offer so make it really high but even then we might decide to ask for more.' Was all a bit disheartening.
    It is disheartening - my heart sank instantly when the fellow said how far up the bidding was already yesterday. It makes a viable property become ridiculous instantly. Here often properties will go above, but every now and then for some reason a house will be too over-priced and it will sell for below.

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    Quote Originally Posted by A-Squared View Post
    I meant investors in the general population / media get a bad wrap. I agree with @AliJahsmum, 4% + is good IMO. When interest rates go up rents will rise again.

    I'm so glad we are in Adelaide where there's growth but it's not ridiculous. Have you thought of investing here? I can see our market slowing but not crashing.
    We started looking when prices were about $550k for a home and they're now $700k for the same sized home just 2 years later, yet we haven't been able to save $150k in the meantime! Our current house has probably gone up around $20k at the most as there is plenty of this type of stock in the market.

    I just looked up an estimator (that we haven't influenced) on the web and it said that our house is worth between $450k and $510k which is funny. Realistically it's definitely less than $400k.

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    I can't believe a million dollar house only gets $600 a week rent or have I read that wrong. My house was under $250k and I get $50 more in rent then I pay in my mortgage each week. Am I just lucky? The house isn't in Sydney I just thought houses would be a lot more expensive and get a lot more rent there then where my house is.

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    We r in qld and it was the norm to offer under asking price we originally offered 20k under and got the house for 14k under asking price. There were a fair few other interested parties too. Couldn't imagine having to buy in sydney

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    Quote Originally Posted by Rodeobull View Post
    I can't believe a million dollar house only gets $600 a week rent or have I read that wrong. My house was under $250k and I get $50 more in rent then I pay in my mortgage each week. Am I just lucky? The house isn't in Sydney I just thought houses would be a lot more expensive and get a lot more rent there then where my house is.
    One we just sold for $950,000 was getting $580 a week, 3 bedroom original 1960,s house , no train station - this is in Sydney but no where near the city

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    Quote Originally Posted by Rodeobull View Post
    We r in qld and it was the norm to offer under asking price we originally offered 20k under and got the house for 14k under asking price. There were a fair few other interested parties too. Couldn't imagine having to buy in sydney
    It's the same in SA, people always lowball. So as a seller, if you want $470k, you advertise at $495-$520k in the hope to get $470.

    If however we were to do sealed bids you would advertise what you want as a single figure and hope for a bit more as you would draw in bigger numbers and bigger offers than overestimating what you want.

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    Quote Originally Posted by Elijahs Mum View Post
    One we just sold for $950,000 was getting $580 a week, 3 bedroom original 1960,s house , no train station - this is in Sydney but no where near the city
    In my area you can buy an old 3 bedroom for 500k and get rent of about $400 -$420. The above doesn't doesnt seem worth it unless the owners want to knock down and live in it eventually. Even with negative gearing that is a big loss.
    Maybe the buyers needed to stash their money somewhere. You can buy 2 houses for that out west and get rent for both for close to 1k a week.

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    I love real estate but I hate the process of buying and selling and dealing with dodgy agents who just tell you anything to get some commission in their pocket.

    We got gazumped once and have learnt the lesson now to always go in with your best offer first go. I tell people to add an extra 20-30k on to their budget just to get a home they love because it will likely cost them that much more when they are still looking in 6 months time.

    After being gazumped we tried to buy another property through the same agent. This time we put our best offer in writing with a 48 hour deadline. That got knocked back and a week later the property was put up for auction instead. We went to the auction but didn't bid and it sold for 30k less than our original offer. I reported this agent to fair trading after 2 dodgy dealing.

    Recently we sold our house. I was pretty firm with the agent that I didn't want to under quote our price so they put it up for sale at what we wanted. A few weeks later it hadn't sold so the agent convinced me to take 100k off the asking price against my better judgement to get buyers in the door. We got an offer but it was only just over the new asking price so knocked it back as we never wanted to sell for that price. Took the house off the market, put it back on 2 months later for 200k more than what it was last at and ended up selling for just under the asking price as we were finally getting buyers that were in the right price bracket.

    I will now only buy either at auction or new land that has a set price. The less I have to deal with agents the better! (sorry Elijahsmum I'm sure you're not all bad, just the ones I have dealt with )

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  12. #90
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    here in WA I have never had this kind of thing.

    We have always had to put any offers in writing, and only ever done inspections etc after acceptance has been signed.

    One property we bought there was another interested party ... but the RE agent was fairly good. She said 'both put in your best offers and we will consider them on x date'. We put in slightly more than we were going to offer to ensure that we got the place, but as always ... the seller is going to take the best offer.

    You know going in that the RE Agent works for vendor and is going to try to get the most that they can for the property.

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