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What's your favourite Somersoft thread?; Somersoft Property Investment Forums mass delusions
Topic Started: 18 Mar 2011, 10:48 AM (30,732 Views)
Cannon
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stinkbug
11 Mar 2012, 05:43 PM
There are quite a few investors still stuck in the 1980's property mindset. Back then, depreciation was much more generous and income was tax was comparatively higher, so negative gearing worked far better than it does now. These days, it's just a benefit to carry you for a few years until the investment starts generating positive cashflow.
Yes - poor Lissie (again!).

Maybe that property she sold won't yield as many coins as she thought.

For a property investor, she sure don't know her crayon colors.....

http://somersoft.com/forums/showthread.php?t=77800

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Mahamed
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Morbidly Obese

Somersofties brag about how they get away with ramping up the market

http://somersoft.com/forums/showthread.php?t=76612&page=6

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I have personally ramped up a market once, I can't go into too much detail on here but it was surprisingly easy to ratchet it up. It's an incremental process that can happen pretty quickly
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Well lucky for you there is no law of insider trading or market manipulation for residential properties!
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ha ha. true. unfortunately some of the guys have been put away, not directly for that process because there is nothing illegal in that, but it's all the same kettle of fish
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NotFooled
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The Bear Whisperer

Mahamed
25 Mar 2012, 04:42 PM
Somersofties brag about how they get away with ramping up the market

http://somersoft.com/forums/showthread.php?t=76612&page=6



Ramping up the market is virtually government policy.
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nuff_ced
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It's not as much fun on the way down..

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Valuation
Hi Everyone

I am having a dilemma ATM. I am re-financing with ANZ (Through private Broker) for my IP at Melb. The purpose of my re-finance is to draw down equity to purchase another IP.

The bank valuation came back at $400,000. However as I would like to go up to LVR90%, the LMI and credit have upgraded it to on site full valuation report required. A week later, the full report came back at $335,000. What a joke! I wil be better off with 80% LVR at $400,000 if it's still possible.

Where can I go from here? I have challenged the valuer, but nothing happening as one of the reason he said is very limited sale for comparison and this is the best valuation.

Thanks

http://somersoft.com/forums/showthread.php?t=78533

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davel
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:D "I had a client who had a property valued by someone at $320,000. Then another valuer (2 months later) valued it at $290,000. Now I just got the third valuation back at $270,000. It's madness! "

Not wishing to be flippant about someone elses misfortune... but this is very like what happened in the US. Valuers lead the parade down, and obviously it becomes self-fulfilling.
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Trojan
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Yep, exactly what I said.
Bulls obsessed with Macrobusiness and bears obsessed with Somersoft.
I put trolls and time wasters on my ignore list so if I don't respond to you, you are probably on it ....
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Mahamed
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Morbidly Obese

Somersoft perma bulls growing over confident again , bring on rate rises and unemployment to put them back in there place, cmon RBA do your damn job !

http://somersoft.com/forums/showthread.php?t=81176

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Rolf Latham
obviously market conditions in desirable parts Sydney with little new land available is putting pressure on house prices once again.
Just a quick email to advise that were successful at auction this morning and secured the above property for $1,xxx,xxx-00. Unfortunately there was a massive interest in this property and ended up being over 200 people at the auction, 50 contracts given out and 30 bidders registered on the day. So unfortunately it was a lot more sought after than we thought
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Dave_R
Sounds similar to what I've noticed in parts of the Bayside area of Melbourne. In particular, I refer to the experience of a colleague - he bid at an auction on a house in Highett that needed a bit of work, but ended up being sold for well over market value. So I certainly agree that it does happen in areas still in high demand.
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jrc77
We bid at auction on the weekend in Sydney. Direct comparables indicated it could be in the $750k - $800k range. Sold for $880k with numerous bidders.
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oc1
It's getting tougher to buy in Melbournes east. Lack of supply is not helping. a lot of interest on well located properties.
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mystery
anything that has the faintest whiff of quality or uniqueness is being snapped up quickly
I've been looking for a few months in large regional city/towns and good well priced stock is going under offer very quickly, ... definitely an air of optimism around at present
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JWR
Yes I'm noticing strong competition below 200k in the strong regional centres I look.
Air of optimism ? Puke. first whiff of falls easing and these idiots think the boom times are back............. dead cat bounce !
Edited by Mahamed, 27 Aug 2012, 11:12 PM.
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mel
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Mahamed
27 Aug 2012, 11:10 PM
Somersoft perma bulls growing over confident again , bring on rate rises and unemployment to put them back in there place, cmon RBA do your damn job !

http://somersoft.com/forums/showthread.php?t=81176

Air of optimism ? Puke. first whiff of falls easing and these idiots think the boom times are back............. dead cat bounce !
The disconnect between reality and your illusion of global economics is hilarious and requires further discussion here.

http://www.destination360.com/north-america/us/nevada/las-vegas/images/s/mix-lounge.jpg

If you end up there don't consider it a demotion. The lounge is a great place to hang out and play with someones dick if you feel the need.

Your argument is complete bullshit - but you were fully aware of that already, weren't you?
Edited by mel, 28 Aug 2012, 12:29 AM.
APF - a place where serious people don't take themselves too seriously. There's nothing else like it.
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stinkbug
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Mahamed
27 Aug 2012, 11:10 PM
... bring on rate rises and unemployment to put them back in there place, cmon RBA do your damn job !

Wow, asking the RBA to dampen the economy so a bear can buy a cheap house. The arrogance and stupidity is astounding.
---------------------------------------------------------------

While it's true that those who win never quit, and those who quit never win, those who never win and never quit are idiots.

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hoofarted
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stinkbug
28 Aug 2012, 10:09 AM
Wow, asking the RBA to dampen the economy so a bear can buy a cheap house. The arrogance and stupidity is astounding.
You need to define cheap. I want to buy a house at reasonable cost. What it is worth. Your assertion that it will get cheap suggests that today's prices are reasonable. You are wrong.
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