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I finally gave in and bought something; In Brisbane
Topic Started: 11 Mar 2012, 01:44 PM (4,944 Views)
Lefty
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And I don't own property - not yet. The bank still owns it. Luckily, what I owe them is tiny in comparison to what many people owe, but that just luck, not smarts.
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those
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deadcat
11 Mar 2012, 04:29 PM
Thanks mate :cool:
I am also bearish, but can't fault you for buying. Life goes forward and sometimes its necessary to make decisions that are more risky than you would like. It sounds like a great house for a good price in today's reality. Congratulations.
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economist
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deadcat
11 Mar 2012, 01:44 PM
Although I am a property bear, I finally got in and bought something. I've found myself a brick 4 bedroom, 2 bathroom, 3 living area house within 10kms of Brisbane. The price was around $475k.

I've got 1 son, and another on the way - I was sick of renting, and didn't want to go through finding a bigger place that ticks all the boxes when I can just pay a bit more and buy something.

By my estimates, the place would have gone for $550k+ 1 year ago, so I think it was a good deal.

Now that I've bought, the market can go ahead and crash now. :bye:
Well played sir!

You waited and saved a dollar or two and your correct..as this your family home values are less important.

Sometimes peace of mind in the maze of choices is the best option.

All the best and if I'm in Brisbane when you hand out the invites for backyard cricket I will turn up.

On an economics front if it were me I would keep my interest rate variable...for now..
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Thatguy
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deadcat
11 Mar 2012, 01:44 PM
Although I am a property bear, I finally got in and bought something. I've found myself a brick 4 bedroom, 2 bathroom, 3 living area house within 10kms of Brisbane. The price was around $475k.

I've got 1 son, and another on the way - I was sick of renting, and didn't want to go through finding a bigger place that ticks all the boxes when I can just pay a bit more and buy something.

By my estimates, the place would have gone for $550k+ 1 year ago, so I think it was a good deal.

Now that I've bought, the market can go ahead and crash now. :bye:
Perfectly good purchase. Brisbane properties are pretty good value.
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Admin
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Quote:
 
Speedy sale relies on realistic expectations and solid research

By Michelle Hele
The Courier-Mail
May 12, 2012 12:00AM

WHEN Rachel and Michael Dixon put their home in the Brisbane suburb of Moorooka on the market, they received four offers after the first open for inspection.

They took an offer for $455,000 and a deal was quickly secured.

Now looking to upgrade and spend a little more on their new property, the couple reckon homes over the $500,000 mark don't seem to be trading as quickly as those that sit under $500,000 or around Brisbane's median house price of around $430,000.

The couple put an asking price of offers over $440,000 on their home when they went to the market.

Mrs Dixon says they had decided to be realistic and not greedy.

"We sold it on the first weekend and that was the intention (when setting the price level)."

Mrs Dixon says owners need to be more realistic when setting a selling price.

"(Sellers) need to stop looking at what other people are marketing their property for; rather look at the prices they are being sold for."

The couple have done a lot of research in preparation for selling their property and buying a new one and realised homes around the median house price or under $500,000 were selling faster.

"We have been looking at sold prices, comparing them to asking prices and there is a huge difference between the two."

The couple have a long settlement period for their home and are keen to find something else in the Moorooka area, which is about 7km from the Brisbane CBD.

Read more: http://www.news.com.au/money/property/speedy-sale-relies-on-realistic-expectations-and-solid-research/story-e6frfmd0-1226353406235#ixzz1ucrU8oUH
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newjez
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Can I ask how much you got off the asking price deadcat (if any).
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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miw
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Quote:
 
Speedy sale relies on realistic expectations and solid research

By Michelle Hele
The Courier-Mail
May 12, 2012 12:00AM

WHEN Rachel and Michael Dixon put their home in the Brisbane suburb of Moorooka on the market, they received four offers after the first open for inspection

[etc.....]



This is about the third article along these lines I have seen in the week.

Seems like the Ancient Brother-and-Sisterhood of Real Estate Agents is out there using the media to try to get people to drop their prices for an easy sale now....

It's not enough to ring you or send you an email twice a week saying "The listing price we agreed was realistic only a week ago (before you signed on exclusive) is too high. You need to swallow your pride and make my life easier be more realistic about the market...."

Now they are using press releases as well.


Edited by miw, 12 May 2012, 05:00 PM.
The truth will set you free. But first, it will piss you off.
--Gloria Steinem
AREPS™
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themoops
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miw
12 May 2012, 04:59 PM
It's not enough to ring you or send you an email twice a week saying "The listing price we agreed was realistic only a week ago (before you signed on exclusive) is too high. You need to swallow your pride and make my life easier be more realistic about the market...."

Now they are using press releases as well.

Posted Image
stinkbug omosessuale


Frank Castle is a liar and a criminal. He will often deliberately take people out of context and use straw man arguments.
Frank finally and unintentionally gives it up and admits he got where he is, primarily via dumb luck!
See here
Property will be 50-70% off by 2016.
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earthsta
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Alex Barton
12 May 2012, 03:19 PM
Moorooka blah blah blah
$455k in Sudanooka???? Get lucky :tu:

Proves there's one born every minute :re:
Edited by earthsta, 12 May 2012, 09:19 PM.
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gun
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deadcat
11 Mar 2012, 04:05 PM
Why mad?

We can easily afford the repayments + $200 extra into offset per week, and still have more than $1k left over for bills / fun. We have no other debt at all, and have a chunk off savings in our offset account.

New place is big, close to day care, schools, public transport.

If the market drops by 20% from here, why would I care? I bought a home not an investment.

Please explain why I am mad?
You will most likely not regret it. Not because it's your 'house and not an investment', but because it will most like won't go down in value. Prices will likely start rising now with low interest rate and even lower rates to come.

You will actually regret it for not waiting a bit longer if the price falls 40% irrespective of the fact that it is your home. Most people would.

Congrats anyway. We bought at the peak of the market in Sydney apparently. Prices have gone up by another 1.5% in my suburb since we bought with 2012 median price so far.

Edited by gun, 13 May 2012, 12:26 AM.
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