He could have been asking far to much for it and the bank valuation highlighted this.
No You cannot assume anything, coz I've bought property where sales have fallen through by finance professionals.
You ould think they should know better.
Oooooooohhhhhhhhhh Now What's been going on...... Be cool
I'm beginning to get worried some of you are not men...
It's not just this thread....
Veritas Only you can determine whether you have the balls to buy property, some of us have honestly tried to guide you in the direction..I do not enjoy venom behavior .
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.
If I was your brother I would hold of selling for a month or so. With the changes to the FHBG and spring around the corner people will be chasing land heavily. Land is already in short supply and prices have increased substantially this year. Either the subdivided block is in a poor location or over priced, as most other land is selling quickly.
Hard to believe finance would fall over for a block of land, if it was a house and land package perhaps, unless of course the people making the offers have no clue.
It's been on the market 10 weeks now.
Across the road from park and lake.
He could have been an arse and force the potential buyers to try for other finance but didn't.
He has to get rid of it in the next 8 weeks... fingers crossed.
you should tell him to look at melbourne if he is keen for a change of pace - or better yet Brisbane
or better yet mandurah. Mandurah, baby!!! who's feeling the love?
He's building a house already.
Perthite
18 Aug 2013, 10:43 PM
It's been on the market 10 weeks now.
Across the road from park and lake.
He could have been an arse and force the potential buyers to try for other finance but didn't.
He has to get rid of it in the next 8 weeks... fingers crossed.
They didn't specify who they were getting the finance from? Silly people. Mike's advice is fairly sound, market for land should pick up with the FHB grant for new builds.
We have not seen anything like this for 80 years. It's called entering a depression and only the final gasps of the digital printing presses are forestalling it. House prices could fall for 20 years, or longer...
As oil prices started to bite, the new housing being built in distant suburbs and even more remote 'exurbs' became less viable for commuters. Once house prices started to unwind (who would have thought it could happen everywhere at once?)
The conventional wisdom is that this financial crisis is a result of a housing bubble in the United States. While that is true, it is also a result of limits to oil supply being reached. So in this article, and particularly in the final graph, I'm showing that the decline in the availability of oil to drive vehicles is linked to the decline in house prices.
Oh my goodness we have a 70s flashback, surely not a peak oiler, my my my.
You might like to get yourself updated to the last couple of years of oil discoveries start here
The doomers are getting crazier as the recovery gains pace, only the real way out there gloomer guys get left peddling the drama.
Perthite
18 Aug 2013, 09:31 PM
My brother has had 2 failed offers on his sub-divided block. Both failed due to finance.
Latest offer is 30k below asking.
Is the subdivision fully signed off, if not folk will take $40-$50K off the asking price. He is also then looking for a developer rather than a home and land buyer and developers only want a bargain.
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.
Oh my goodness we have a 70s flashback, surely not a peak oiler, my my my.
You might like to get yourself updated to the last couple of years of oil discoveries start here
The doomers are getting crazier as the recovery gains pace, only the real way out there gloomer guys get left peddling the drama. Is the subdivision fully signed off, if not folk will take $40-$50K off the asking price. He is also then looking for a developer rather than a home and land buyer and developers only want a bargain.
Still no comment on gold and interest rates in this recovery.
Not my fault if you have the memory of a goldfish. I'll try to get you up to speed. The argument is about Strindberg's sig which contains ABS data showing national housing costs relative to incomes haven't changed much since 1994.
Veritas is attempting in vain to disprove this fact using unrelated data (nominal price rather than mortgage repayments / income, and WA-only rather than national) and from a different time period (2006-2011 rather than 1994-2010). It's all a bit silly.
Oh, so house prices have crashed have they?
I already proved it.
And you know that.
But you cant admit.
It would damage the core message.
Its your mo and Strindbergs.
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
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