I offered 850k on a property listed at 1.2 million in 2007.
You asked for evidence because you could never see it being worth more than 600k
I provided evidence that it was listed at 975k in 2008 (as far back as the info would let me look).
Meanwhile, you are still on here posting shit when every other multi millionaire on the planet is spending their Sunday arvo rooting supermodels on Learjets.
Explain that Walter?
You are on a roll, yet another lie. Not once did you mention or talk about $975k, not until after I mentioned it due to catching you out.
Quote:
Very tempting. However, much closer to the beach is a two storey property on 850m2 with up to date features, excellent concrete pool and ocean glimpses for $599k. This same property was listed at 1.2 million in 2007 and 800k in 2011. They turned down 850k in 2007 (I made the offer).
You never offered $800,000 on a $1.2 million dollar property as that property has never been listed for $1.2 million. When you make an offer for a property over a million dollars, it is not something you forget.
You also claimed the property was advertised for $800,000 in 2011, it was not. In 2011 it was advertised for $595,000.
You are on a roll, yet another lie. Not once did you mention or talk about $975k, not until after I mentioned it due to catching you out.
You never offered $800,000 on a $1.2 million dollar property as that property has never been listed for $1.2 million. When you make an offer for a property over a million dollars, it is not something you forget.
You also claimed the property was advertised for $800,000 in 2011, it was not. In 2011 it was advertised for $595,000.
So how many lies can you tell in one day!
Yes Mike, if you say so Mike..
Meanwhile, any tips you can offer me on how to be so very successful that you get to spend your Sunday arvo's arguing with nobodies on a little viewed blog site, please let me know.
Your life sounds great. (note how I spelled your).
Their, we have put that won to bed.
Or maybe there putting that wun to bed.
I am sure you know what I meen.
See You Next Tuesday.
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be rising.
Meanwhile, any tips you can offer me on how to be so very successful that you get to spend your Sunday arvo's arguing with nobodies on a little viewed blog site, please let me know.
Your life sounds great. (note how I spelled your).
Their, we have put that won to bed.
Or maybe there putting that wun to bed.
I am sure you know what I meen.
See You Next Tuesday.
Glad we established that you lie to distort examples you use to claim false price declines.
See how easy it is to prove you lied, try not to do it again as we will catch you out again. I don't care if you put offers in, or what ever excuses you can make up.
Just don't lie about it, if prices fall we will know about, if prices rise I'm sure we will let you know. Just tell the facts or data and offer your opinion. Don't tell us lies.
Your fascination with my private life is touching and a little concerning, plenty of time to root super models tonight and get blind drunk. Cho need to catch gulf stream to Monaco.
are you seriously claiming that Warnbro is in a bubble?
6% growth last year 2.9% per annum over 5 years - come on that is not a bubble!!! in fact it looks a bit low compared to growth in areas close to it.
Is Warnboro a reasonable area? What is wrong with it that you think it should crash when it is clearly not in a bubble?
Jimbo
17 Aug 2014, 07:09 PM
As you will be well aware (being an economic guru an all), sometimes recorded history differs from the truth.
No doubt you were somewhat dumfounded when you saw that it had been listed at 975k just after you claimed that it was never worth more than 600k max.
So naturally you nit picked me on the detail because that is all you had left.
I maintain that it was listed at 1.2million and I although agree that was a silly price. I offered 850k.
Get your army of experts with inside information to check it in the morning.
What I don't get is why on earth you believe that this house will be further discounted, it is way down from peak value. I look at that and I think, this is a bargain, I actually like the house it would be an easy reno with its big rooms and high ceilings. You could make a seriously funky holiday home outta that place for not a lot of money. There is no way that you could rebuild it for less than $450k.
Here is another heavily discounted house that sold $100K less than peak
23 GALWAY GARDENS, WARNBRO 4 2 2 HouseLast Advertised Price : July 2014 $595,000 Historical Prices: July 2014$595,000 July 2014SOLD July 2014Under Offer March 2014$619,000 April 2013$579,000 - $599,000 February 2013$599,000 November 2007$659,000 May 2007$699,000
To me Warnbro looks like it has already had a major downturn. These houses are selling for less than replacement value and that is never sustainable for long. It makes me feel like going down there and picking up a beach shack it looks lovely seriously, is there something wrong with the place? Look at Sydney and Melbourne and what happened to beach front areas in towns on the city outskirts - long term that has gotta be great buying IMHO.
Why do you believe Warnbro is gonna drop by even more?
John Frum
17 Aug 2014, 07:55 PM
It was a comment on Mike's writing style, not on perth property.
But feel free to use it as an excuse to launch into one of your tired rants about doomers, gloomers and property crash spruikers.
Your comment was a lazy ad hominem in a debate where you had nothing material to contribute. Now you have only yet another ad hominem to add.
Definition of a doom and gloomer from 1993 The last camp is made up of the doom-and-gloomers. Their slogan is "it's the end of the world as we know it". Right now they are convinced that debt is the evil responsible for all our economic woes and must be eliminated at all cost. Many doom-and-gloomers believe that unprecedented debt levels mean that we are on the precipice of a worse crisis than the Great Depression. The doom-and-gloomers hang on the latest series of negative economic data.
You also claimed the property was advertised for $800,000 in 2011, it was not. In 2011 it was advertised for $595,000.
So how many lies can you tell in one day!
Sorry Mike, I mixed a few dates up (memory fading with age).
Meanwhile, I did offer 850k when it was listed at 1.2 million and you will have to take my word for that.
At least the data shows that it was once worth more than 600k which according to you was not possible.
You really are a plonker Mike.
Do you honestly believe that I give a rats arse about what you and your three million devoted economic blog followers think?
skamy
17 Aug 2014, 10:03 PM
Jimbo
are you seriously claiming that Warnbro is in a bubble?
No, not the top end. The top end isn't selling and has seen some pretty big falls in asking prices. These aren't reflecting in the median because the median looks at sold prices for houses that have actually sold. My whole point is that the middle and bottom end are not that far removed from the top end now so something has to give.
Bling houses near the beach were all the rage with your big earning FIFO and other mining related workers. Now they are being laid off, they are looking to cash in on their equity but nobody wants to pay big to buy into a suburb where big houses are fodder for the local Homes West burglary brigade.
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be rising.
Hahaahaa....good one Jim, the homes west burglary brigade and Perth are symbiotic to say the least..........
Me and uncle Mustapha here always have a bit of a chuckle about this peculiar problem Perth has with fucking burglaries.
Now, looking at the bigger picture, the mining tide's run out in Perth Jim, and as usual many of these buffoons are about to be caught out swimming naked.
You must be bloody superman or something. I do know you are totally deluded. No analyst can ever know what mr and mrs X would be prepared to pay for property Y or whether mr z would be prepared to accept their offer. A market consists of 100's of transactions and to predict accurate % rises or falls would require prior knowledge of all of these.
If you have found a secret formula that is so bloody accurate, why are you not retired by now? If I knew with 100% certainty of a definite 15% future market move, I would become a billionaire overnight.
You are without doubt one of the most full of shit bloggers I have ever encountered.
I read your "blog spot" and fell about laughing. You put two and two together and come up with five.
You post this link at the bottom of your comments like we are all supposed to go "wow, a real economist, he even has his own blog". What a twat.
Just for the record, I have predicted that Perth prices (in certain bands) would climb until July this year, before entering a period of decline or stagnation. It is a prediction based on certain factors in play at the moment (no big secrets).
Tend to agree. You have to be careful with Mike. He has special powers. His favourite trick is to go to the beach and make the water move using his mind powers!
Mike
17 Aug 2014, 12:16 PM
Then let's see how things pan out over spring and summer, then we shall see who is right or wrong.
It is all those thousands of transactions you talk about that I tap into, prior to any data providers looking at the data. Hence why I am ahead of the curve. It's why I often see market movements months ahead of most other people.
Keep in mind I have a vast network of professionals in many different areas of real estate and finance. It is this huge network that acts like a huge web that catches data, I simply filter it and add my own analysis to it. It's not just a prediction, I invest millions of dollars based on my hard work to gather this information. I don't have time to wait for data providers or media to say which way a market is moving, that is many months late and then everyone else will also know.
I a already preparing for a softer market in the coming years, increasing my cash flow so I can secure more land when prices ease. This will provide the land for my next series of developments over the next 5 years.
All this from a guy who thought the rp index was the median house price. Too impressive for words. We still chuckle over that one Mikey.
Mike
17 Aug 2014, 03:13 PM
I know you are newish to these forums. Many of the longer term posters know I posted well in advance of any media or data regarding Perth price movements. BP also called the market correctly long prior to any data or media.
I have already stated my view point. I expect to see between 3-5% growth over Spring/Summer which takes us to March 2015. After this I expect the market to slow and stagnate for a few years.
There is no trick to this, a lot of hard work, sitting at your key board wishing it was not so and posting on a forum is not hard work and changes nothing.
I have stated my view point, what is your view point up to March 2015 and beyond. Give me a % of growth or falls you expect to see on your information.
Then we can revisit this and see who really understands what they are talking about. Give us some figures so we can all hold you to account. My predictions have been around for years for everyone to talk about, only problem is I have been mostly right.
One day I'll rule the world! Hahahahahahahashahahahahahahahah!
Newjez, a few of us identified Mike very early on as a snake oil merchant.
Phew, what a relief that at least a few of you won't be coming after me for having a go at god Mike.
I am worried that his devoted army of globaleconomyblogspot followers are going to link up with his vast network of statisticians and RE experts to come and get me. The last thing I need is all his mates on APF to join in.
lulldapull
18 Aug 2014, 12:28 AM
Hahaahaa....good one Jim, the homes west burglary brigade and Perth are symbiotic to say the least..........
The great thing around here is that if you live in a normal house, you can leave your doors and windows open and nothing happens. They are all busy robbing the big houses in the dunes. There are so many ways in and out of those places that I have been tempted to have a go myself.
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be rising.
Umm helps if you posted the correct details. You said 850sqm this property is 728sqm, only off by 122sqm. That's why it did not appear as to small for the property you hyped up.
To be honest it's crap, that is what I call and old holiday home that has been renovated a few times. It's old, dated, weather board construction for the upper levels, which means cheaply built. The tropical garden makes it look nice but it's hiding a lot of faults as well.
If you wanted to spend $50-75k if not more updating it might make a nice modern house. One thing going for it is 5 beds and 3 baths, I always like that.
It is a nice house if you like that style and it is a very specific style, hence why it takes longer to sell. But if that is what you like it is not to expensive. I think you can get it cheaper though. Helps if you posted the right information dick head. This is far from a $1.2 million mansion you made it out to. The fact you offered 850k for it tells me your full of shit. When something you post actually happens, people might pay more notice of you. Until then all we have is dozens of failed Newjez predictions.
Do we need to really roll out all of you're failed predictions again to see no one should ever listen to the bile that dribbles from your mouth.
3% in five years, despite all the bullshit that flows from your mouth Mike, and you'll be lucky to get another 3% in the next five years.
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
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