But then again not many places allow you to offset other income against rental expenses
Is anyone buying now?!
- Thread starter Canberra Milk
- Start date
But then again not many places allow you to offset other income against rental expenses
Always on the hunt for the good deal. Always learning from past mistakes, experience, from other people's mistakes, experiences and successes. Always preparing.
put in offers on 2 properties today.
first one i offered on 4 months ago. we have gotten within $5k of each other - but i refuse (atm) to overpay what i think it's worth, even if it is just $5k. notice it's still for sale so resubmitted my old top offer. they refused again. has been on the market for 10mths already ... i'll just wait a little longer.
another property put in a low offer. see what happens.
first one i offered on 4 months ago. we have gotten within $5k of each other - but i refuse (atm) to overpay what i think it's worth, even if it is just $5k. notice it's still for sale so resubmitted my old top offer. they refused again. has been on the market for 10mths already ... i'll just wait a little longer.
another property put in a low offer. see what happens.
I have told myself no more buying this year ,but as I look around and start to see the bargains and one doesn't have to look far to find them.
Some properties in semi rural have halved in price
I could be tempted
But I wouldn't over commit myself at this time.
If the cashflow exceeds the outgoings, how could you over commit?
I'm always in the market.
SF, I've been stuffing up the timing of purchasing r/e for decades, and I still land on my feet.
Is you current offer above or below what you offered 4 months ago?
offer was exactly the same - but the market has stagnated since. just waiting for vendors to catch up (or catch down) with the market.
the vendors of this property paid too much for it in 2007 and therefore want more than it's worth now ... something that no one is prepared to pay.
they'll twig eventually.
I'm not buying, but I am extending and renovating a house purchased in 2009, so that's where all my funds are tied up. Otherwise I would be buying again (in Sydney). Good buying opportunities now - very similar to late 2008 / early 2009... i.e. time to grab a bargain now before the next leg up.
just curious, where abouts do people see where we are in the investment clock, in Vic
here is the link for those that aren't familiar with it
http://www.mccarthygroup.com.au/freedom/investmentclock.html
I thought we were at 6 oclock in mid-late 08 when property prices fell a few %
however, 09-early 10, saw a stablislation + a small recovery (depending on who you talk to) of prices across the board
mid 10-current we are seeing another fall, in my opinion greater then the falls in 08
it had been prdecited of at least 2 rate rises in 11, which we haven't seen yet, and the first hint that rates actually may fall in the next change to occur
or are we still at 1oclock - 2oclock where shares are still falling and a few interest rises have passed us by but still may be more in the pipeline
so where are we??
here is the link for those that aren't familiar with it
http://www.mccarthygroup.com.au/freedom/investmentclock.html
I thought we were at 6 oclock in mid-late 08 when property prices fell a few %
however, 09-early 10, saw a stablislation + a small recovery (depending on who you talk to) of prices across the board
mid 10-current we are seeing another fall, in my opinion greater then the falls in 08
it had been prdecited of at least 2 rate rises in 11, which we haven't seen yet, and the first hint that rates actually may fall in the next change to occur
or are we still at 1oclock - 2oclock where shares are still falling and a few interest rises have passed us by but still may be more in the pipeline
so where are we??
Property Clock
In my opinion, the logic is too linear (even though its a clock and is circular) for a world with US QE, Euro debt worries, First Wolrd economy struggles, 2nd world economys doing to much better (eg Brazil), 2 (or 3) speed Aus economy and impending IR rises (well that's the current RBA policy stance), Aus minority government, Carbon tax uncertainty.
Broad and sweeping statements are generally folly, but watching and waiting in 2011 isn't a bad tactic in particular to Melbourne's property market.
In my opinion, the logic is too linear (even though its a clock and is circular
) for a world with US QE, Euro debt worries, First Wolrd economy struggles, 2nd world economys doing to much better (eg Brazil), 2 (or 3) speed Aus economy and impending IR rises (well that's the current RBA policy stance), Aus minority government, Carbon tax uncertainty.Broad and sweeping statements are generally folly, but watching and waiting in 2011 isn't a bad tactic in particular to Melbourne's property market.
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Agree, when you make a poll you have to have balance and clear choice/s.
We needed a yes or no on this one. Are you intending, is a maybe. For Instance: if I was willing to sell my SYD apartment worth $400k for $200k everyone of the no would say yes.
Also circumstances come into it.
I bought last month a new villa where I live for my mother in law. So my answer is yes but it is not related at all to the market conditions, personal decisions are the driver.
FYI Peter 14.7
I find this article very interesting and would be interested to see debate on this in a new forum. Can we re-post it independently on a new thread?
People are definitely buying at the moment. From meeeeeeee
The thread heading is: Is anyone buying now!
Legitimately, you are but is it reasonable for a "vulture capitalist" who is "turning the screws" on "desperate sellers" to vote as if all is well? (no idea how you voted in the pol)
If you think the golden carriage is turning into a pumpkin, make that as a clear statement.
Legitimately, you are but is it reasonable for a "vulture capitalist" who is "turning the screws" on "desperate sellers" to vote as if all is well? (no idea how you voted in the pol)
If you think the golden carriage is turning into a pumpkin, make that as a clear statement.
I personally think we've passed over the growth portion of the clock with no growth at all; and are staring down the barrel of coming up to 2-3 o clock now.
The golden carriage is turning into pumpkin.
