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Our house is up for auction tomorrow!; Anyone want to guess how the market has performed in the last 5 years?
Topic Started: 26 Aug 2011, 12:44 PM (18,701 Views)
earthsta
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Trojan
22 Sep 2011, 02:38 PM
The Bear Jew
22 Sep 2011, 01:20 PM
OINK OINK
Sorry but I'm not silly enough to jump at the first low ball offer ... its not how I give my family a stable financial environment to live in.
If you want to sell your assets below what they are worth, please contact me :)

Anymore nonconstructive sour grapes posts?
Your house is worth much more than market value Trojan, because it's special :lol:
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Trojan
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hoofarted
22 Sep 2011, 02:58 PM
And greed ensures that you lose your shirt.
Maybe, maybe not.
But then again, people told me that I would lose my shirt by buying a home a few years ago and my wardrobe is still well stocked.
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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Trojan
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raveswei
22 Sep 2011, 03:10 PM
Sure, but does that implies that you will be better off if you keep it for next 5 years?
Nope. No one hear knows what will happen in the next five years (yes that includes you too)
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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Mc_Gusto
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mcgusto

Trojan
22 Sep 2011, 11:25 AM
Just like I was foolish for not taking the highest offer at the auction which was $30,000 less?
Mate you're the one sitting on two mortgages for how long now??

How much is that costing you?

Remember all the numbers are worthless until you transact...in the interim you still have to cover the debt
Silence of the BULLS

HA HA
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Trojan
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earthsta
22 Sep 2011, 03:24 PM
Your house is worth much more than market value Trojan, because it's special :lol:
My house is worth market value and what I was offered 4 weeks ago was below market value.
The proof is the market is willing to pay $880k now.
Unless you are saying market value 4 weeks ago was $850k and house prices grew 3.5% in 1 month :D
That would make you uberbull :excited:
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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Mc_Gusto
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mcgusto

Meanwhile in the real world the asx slips below 4000 a global recession looks a certainty if not depression, Chinese data looks ominous...especially manufacturing, commodities get slammed...again...and yet Australians cling to their houses - their houses value and their perceived value of their house in Sydneys west! Are we that fkn dumb as a nation??? This thread is beyond belief!
Edited by Mc_Gusto, 22 Sep 2011, 03:40 PM.
Silence of the BULLS

HA HA
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Trojan
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Mc_Gusto
22 Sep 2011, 03:32 PM
Mate you're the one sitting on two mortgages for how long now??

How much is that costing you?

Remember all the numbers are worthless until you transact...in the interim you still have to cover the debt
Yes I have 2 mortgages now.
Not costing me very much at all to be honest - saved a lot in my offset account and collect rent on the other one.
Your point is?

Sounds like you are afraid of debt.
If everyone was as afraid of debt as you are, practically all the businesses we know today would never have existed.
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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Trojan
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Mc_Gusto
22 Sep 2011, 03:38 PM
Meanwhile in the real world the asx slips below 4000 a global recession looks a certainty if not depression, Chinese data looks ominous...especially manufacturing, commodities get slammed...again...and yet Australians cling to their houses - their houses value and their perceived value of their house in Sydneys west! Are we that fkn dumb as a nation??? This thread is beyond belief!
Yeah, good thing I didn't sell my house at a big discount and put it in shares as some here advised me earlier.
Sorry if that is dumb to you but honestly, I think I am entitled to trying to look after my family's financial interests and not try and please people on this forum.

p.s. Don't get confused between Sydney's west and innerwest.
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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raveswei
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Quote:
 
My house is worth market value and what I was offered 4 weeks ago was below market value.


This is wrong thinking:
What you were offered 4 weeks ago was exactly market value at that point of time. (there is no better way to determine market value than on auction - even dodgy Australian property auction)

Quote:
 
The proof is the market is willing to pay $880k now.

Market value now is 880k but it was not few weeks ago

Quote:
 
Unless you are saying market value 4 weeks ago was $850k and house prices grew 3.5% in 1 month :D That would make you uberbull :excited:


No it doesn't mean that house prices grew 3.%. It means that your house price grew 3.5%. That doesn’t imply that median or average house prices grew, because some other homes lost that much or more in value. Same as if you don’t sell to this buyer and he goes somewhere else to buy, your house price will go down, not just 3.6% but down lower to second bidder price and that only in case if he is still willing to pay that much. Otherwise it will go even more down, until you find somebody who is willing to pay highest price.

You logic that “what you were offered 4 weeks ago was below market value” could be used to say that everybody sold for below market value in 2001 just because somebody is willing to pay more today?
http://popping-bubble.blogspot.com/

Thinking of an Australian property speculator (PI):
Inaction = missing opportunities.
Missing opportunities = losing.
Too much thinking = inaction.
Thinking = missing opportunities.
Therefore thinking = losing.

disgraceful little man Frank Castle owes a house to Salvation Army

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Trojan
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raveswei
22 Sep 2011, 03:57 PM
It means that your house price grew 3.5%.
Cool. My house price grew by 3.5% in 4 weeks (is that real or nominal growth raveswei?)
Sounds like a pretty good investment to me (tax free on the family home too!)

To think I almost listened to the pessimists and sold 4 weeks ago :blink:


raveswei
22 Sep 2011, 03:57 PM
You logic that “what you were offered 4 weeks ago was below market value” could be used to say that everybody sold for below market value in 2001 just because somebody is willing to pay more today?

No. 2001 was not 4 weeks ago.
Edited by Trojan, 22 Sep 2011, 04:06 PM.
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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