Mike, I can see this is going nowhere but one more time, I will bash my head against a brick wall.
It was listed in 2007 for 1.2million. That was wishful thinking by the vendors. I offered 850k because that was what I was prepared to pay for it. I can't find evidence of that listing, but the fact that it was re-listed in 2008 for 975k (when prices had come off the boil), surely backs up my claim that it was listed for 1.2 million in 2007?
As for the listing prices between 2007 and now, it makes no bloody difference to my point that the property has dropped in asking price from 1.2 million to 599k in seven years.
I have no need to make up stories and if I was going to lie deliberately, I wouldn't have posted a link to the source data.
I don't know what you think it would achieve anyway. I don't imagine for a minute that my postings on here will have any impact on Perth property prices. I'm sure that potential buyers and sellers don't read these forums and decide to set their asking or offer prices according to the views of faceless posters.
You may feel that your rantings have some impact on the market but I live on planet earth and it doesn't work that way.
What I don't like is people telling false stories.
In a number of threads now the information you have provide has been shaky at best, this one was an outright attempt to inflate your own story to make it sound so much better.
I can find plenty of other properties listed in Warnbro for prices in 2007, none come close to $1.2 million.
Now you just want to fudge over the dates, they don't matter, listing prices don't matter and so on. They don't matter now as you got caught out.
While I agree prices in that area got hammered, this is ancient history it happened many years ago. Why are you so worried about it now. All present data shows Warnbro increasing in value over recent years.
You could have bought this property cheaper in 2011 for $595,000 or less. Saved yourself 3 years or more waiting around.
I would be very careful, why do you think no one has bought this property in so many attempts to sell it. I would not buy it even if it was $400,000.
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.
Property acquisition as a topic was almost a national obsession. You couldn't even call it speculation as the buyers all presumed the price of property could only go up. That’s why we use the word obsession. Ordinary people were buying properties for their young children who had not even left school assuming they would not be able to afford property of their own when they left college- Klaus Regling on Ireland. Sound familiar?
The evidence of nearly 40 cycles in house prices for 17 OECD economies since 1970 shows that real house prices typically give up about 70 per cent of their rise in the subsequent fall, and that these falls occur slowly. Morgan Kelly:On the Likely Extent of Falls in Irish House Prices, 2007
Of course it's part of the cycle. There's also part of the cycle where rents stay the same for quite a while - years maybe. Do you really believe serious investors think prices only ever go up?
Ouch! 10% drops in 12 months in Perth. Canberra not far behind either. Perth is about to get knocked around, I think the only Perth bulls left arguing this are Mike and skamy. Check out the fin review today, has a good article on China property, has declined for 3 straight months now and stock levels still rising. Not looking pretty.
Of course it's part of the cycle. There's also part of the cycle where rents stay the same for quite a while - years maybe. Do you really believe serious investors think prices only ever go up?
I think the unserious investors outnumber the serious ones by a considerable margin.
Property acquisition as a topic was almost a national obsession. You couldn't even call it speculation as the buyers all presumed the price of property could only go up. That’s why we use the word obsession. Ordinary people were buying properties for their young children who had not even left school assuming they would not be able to afford property of their own when they left college- Klaus Regling on Ireland. Sound familiar?
The evidence of nearly 40 cycles in house prices for 17 OECD economies since 1970 shows that real house prices typically give up about 70 per cent of their rise in the subsequent fall, and that these falls occur slowly. Morgan Kelly:On the Likely Extent of Falls in Irish House Prices, 2007
Of course it's part of the cycle. There's also part of the cycle where rents stay the same for quite a while - years maybe. Do you really believe serious investors think prices only ever go up?
'serious' investors are in the minority. The majority of investors will only ever have one, maybe, two properties. The majority of investors have no idea.
Just checked a house that was listed for rent at $450pw in June but has since dropped to $395. It has now been listed for sale, but the blurb states "ideal investment property, recently rented for $450pw".
Technically true, but they forget to mention that the owners can't rent it out now for $395.
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.
Just checked a house that was listed for rent at $450pw in June but has since dropped to $395. It has now been listed for sale, but the blurb states "ideal investment property, recently rented for $450pw".
Technically true, but they forget to mention that the owners can't rent it out now for $395.
I spent a lot of time in Mandurah as a kid crabbing under the bridge but I don't recall posting any opinions on the Mandurah market? I like the place as somewhere to go fishing, but I wouldn't live there if you paid me and so I have no opinion on its housing market.
Meanwhile, you are quite happy to write off Warnbro as a bogan town with a lower working class demographic.
There is a bit of pot kettle and black going on here.
Each to their own...one has differing aspirations to what is their accomodation nirvana.
I luv the river ATM.. The ocean can wait for now.
One has to consider seriously the downside logistic of living near the ocean, in terms of quality housing materials to withstand the salt air wind etc.
A family member is having a saga with a roofing company about significant fading & discoloration on her roof the house was built about 6-7 yrs go. It's a beautiful home & it's been marred by this inferior product.
Go check the roof on "Ace realty " on Canning hwy, it looks crap...when you next drive past that way. The roof type & color is similar.
zaph
19 Aug 2014, 01:03 PM
'serious' investors are in the minority. The majority of investors will only ever have one, maybe, two properties. The majority of investors have no idea.
Yes there's truth in that comment.
A market is never stable, there's good & bad in all individuals,you've also got people in RE who can be idiots...I had a land consultant tell me when I was 24 I was nuts to buy in Joondanna...he had a nice Prelude I had my old buzz box Suzuki he bragged his stepdad had a Porsche oh wow...
He eventually lost his license due to speeding, we bonked, that's all he was great for.
Newjerk? can you try harder than dig up another person's blog. My first promo was with Billabong and my name in English is modified with a T, am Perth born but also lived in Sydney to make my $$ It's Absolutely Fabulous if it includes brilliant locations, & high calibre tenants..what more does one want? Understand the power of the two "P"" or be financially challenged Even better when there is family who are property mad and one is born in some entitlements.....Understand that beautiful women are the exhibitionists we crave attention, whilst hot blooded men are the voyeurs ... A stunning woman can command and takes pleasure in being noticed. Seems not too many understand what it means to hold and own props and get threatened by those who do. Banks are considered to be law abiding and & rather boring places yeah not true . A bank balance sheet will show capital is dwarfed by their liabilities this means when a portions of loans is falling its problems for the bank.
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