House prices to stagnate for 'years'

[wayneL]

hello,

please dont shoot the messenger,

But you're not simply a messenger, you're in the industry, which you denied for the longest time.

So not only an industry VI, but a bit a BSer as well.

This warrants people viewing your comments with suspicion.

In any case, nobody is trying to shoot you, just stating your VI, and their own opinions.

 

[robots]

hello,

would like to know which part of writings is BS?

dont remember being asked if was in the industry, but know many started to call me a real estate agent which I clearly arent

thankyou

robots

 

[Kimosabi]

hello,

please dont shoot the messenger,

surely people can comment "on the market" without always being labelled as some RE bull,

still some awesome affordable places in those areas, with plenty of run left I believe

anything with walk-up PTC is going to kill it in the future,

if I was kimo, and looking to buy something to live in over in Perth I would seriously be looking now

thankyou

robots

Sorry, I don't listen to spruikers...

 

[wayneL]

hello,

would like to know which part of writings is BS?

dont remember being asked if was in the industry, but know many started to call me a real estate agent which I clearly arent

thankyou

robots

You told us you are an auctioneer IIRC. The line between agent and auctioneer is very fuzzy; as far as the public is concerned, same thing.

 

[theasxgorilla]

I am keenly waiting for the increase of credit and increased rates to filter through. Usually it takes 3- 6 months.. hence even the august rates havent been priced into the prop market yet.

This is an economist perspective. And in an economic measurement sense I agree, it takes time for the reality to filter through. But if you're putting your feet on the ground and actually going to auctions or open houses during the weekend just after a rate rise you might notice as I have that the sentimental impact IS immediate.

IMO decision making based on property investment magazines is a bit like trying to trade off quarterly bar charts. Maybe fine for setting a strategy, but to manoeuvre into a good deal you gotta be physically in touch with the market on a weekly basis. Robots is right...averages and medians and other summary tokens of information are so not indicative of what happens week to week.

Housing can be like poker in the sense that you can play the man (or woman). Try that with shares??? You can't, 99.9%, if not 100% of us on this forum are too small to play games in the share market. But in the property market you can use the exact same statistics and media stories you are reading and believing in, and the same government or central bank planted propaganda about consumer and wage inflation and rate rises and labour market tightness etc. etc., to your advantage. The person you are buying the house off is being inundated with the same information.

With all due respect to Robots and other real estate agents you even have to play them because they've got their own set of beliefs and biases and the information you give them, or withhold, can directly influence your success within a deal.

And why do you want to buy property anyhow? The answer to that question determines your buying strategy.

 

[theasxgorilla]

Robots get real!! Of course bloody property in those areas will never go down. GEES
In fact if youy can afford to buy and live in those areas why even bother posting on this thread!!!

Flying Fish...if you can't afford to live in those areas, ask why...and then maybe ask how...if that's what you want.

But this is how property works...up to a point most people can only afford so much. But sometimes investors don't buy as much as they can afford, they purposely buy less to make things like LVR and the cash flow numbers work, or to spread risk/opportunity around.

These suburbs are real suburbs where people live and invest so they're as relevant as picking outer west Sydney and using it is a token example that rising interest rates are killing the market.

 

[robots]

hello,

i am not an auctioneer or RE agent, I never said that, yes i said I go to many auctions on the weekend, went to three yesterday

anything wrong with that? its the only way to get the research on how things are going

inner city around 90% is auctions, they have become a very transparent way of selling I believe

yes it is easy when so many auctions so close to each as I can ride my bicycle to them

the flavour yesterday was minimal bidding and the negoitiation after leading to the sold sticker going on board

thankyou

robots

 

[trendsta]

This is an economist perspective. And in an economic measurement sense I agree, it takes time for the reality to filter through. But if you're putting your feet on the ground and actually going to auctions or open houses during the weekend just after a rate rise you might notice as I have that the sentimental impact IS immediate.

IMO decision making based on property investment magazines is a bit like trying to trade off quarterly bar charts. Maybe fine for setting a strategy, but to manoeuvre into a good deal you gotta be physically in touch with the market on a weekly basis. Robots is right...averages and medians and other summary tokens of information are so not indicative of what happens week to week.

Housing can be like poker in the sense that you can play the man (or woman). Try that with shares??? You can't, 99.9%, if not 100% of us on this forum are too small to play games in the share market. But in the property market you can use the exact same statistics and media stories you are reading and believing in, and the same government or central bank planted propaganda about consumer and wage inflation and rate rises and labour market tightness etc. etc., to your advantage. The person you are buying the house off is being inundated with the same information.

With all due respect to Robots and other real estate agents you even have to play them because they've got their own set of beliefs and biases and the information you give them, or withhold, can directly influence your success within a deal.

And why do you want to buy property anyhow? The answer to that question determines your buying strategy.

Hi AsxGorilla,

My perspective is based on my own views. And many may not share those views, which is fine. I follow a simply philosophy buy low, sell high, and in case of prop dont sell at all ..

I agree property is a different beast. Its a case by case scenario for buying a house etc, and each prop has its own merits. However, the median prices, although not 100% correct, do show an underlying trend ..

Also prop is a big investment with large tranaction costs. Hence you have to be very selective .. For me, i believe there will be golden opportunities coming up. I do not subsribe to the notion "buy now or u'll miss the train"...

the fact is there have ALWAYS been opportunities and there ALWAYS will be opportunities, whether in stock market or prop or any other market.

 

[Rough_Trade]

hello,

just got back from signing up new vendor

vendor has set reserve at 675k, so going to advertise at 500k plus

auction in 4 weeks, will be good

thankyou

robots

hello,

i am not an auctioneer or RE agent, I never said that, yes i said I go to many auctions on the weekend, went to three yesterday

anything wrong with that? its the only way to get the research on how things are going

inner city around 90% is auctions, they have become a very transparent way of selling I believe

yes it is easy when so many auctions so close to each as I can ride my bicycle to them

the flavour yesterday was minimal bidding and the negoitiation after leading to the sold sticker going on board

thankyou

robots

Some more detail please.

 

[Kimosabi]

Originally Posted by robots
hello,

just got back from signing up new vendor

vendor has set reserve at 675k, so going to advertise at 500k plus

auction in 4 weeks, will be good

thankyou

robots

Quote:
hello,

i am not an auctioneer or RE agent, I never said that, yes i said I go to many auctions on the weekend, went to three yesterday

anything wrong with that? its the only way to get the research on how things are going

inner city around 90% is auctions, they have become a very transparent way of selling I believe

yes it is easy when so many auctions so close to each as I can ride my bicycle to them

the flavour yesterday was minimal bidding and the negoitiation after leading to the sold sticker going on board

thankyou

robots

Some more detail please.

Going, going, GONE to the spruiker in the corner!!!

 

[robots]

hello,

if you look at previous posts around that time, I think it was numbercruncher who started calling me an RE agent, and others started putting the RE agent words when responding to my posts

so I went along with it for that post,

thankyou

robots

 

[robots]

hello,

and whats it matter if I was an RE agent, Auctioneer, street sweeper or employed doing anything else, the property market is solid as,

thankyou

robots

 

[YChromozome]

the property market is solid as

Sounds as creditable as Howard saying he will keep interest rates at 30 year lows. Amazing what a year or two may bring.

 

[Kathmandu]

Sounds as creditable as Howard saying he will keep interest rates at 30 year lows. Amazing what a year or two may bring.

Actually I would be interested if someone out there new if this were true.

I have been buying houses since the early 90's and I would think that the current interest rate is still low, but of course my recollection only goes back that far.

Have interest rates been lower?

Dave

 

[theasxgorilla]

inner city around 90% is auctions, they have become a very transparent way of selling I believe

You mean even when the low end of the buyers-interest range is 25% lower than your client's reserve?? Hmmm. That sounds more misleading than transparent.

500k plus advertised price, vendors reserve 675k, to refresh your memory.

 

[theasxgorilla]

I agree property is a different beast. Its a case by case scenario for buying a house etc, and each prop has its own merits. However, the median prices, although not 100% correct, do show an underlying trend ..

Now we're getting somewhere

And what is the trend, pray-tell?

 

[wayneL]

hello,

and whats it matter if I was an RE agent, Auctioneer, street sweeper or employed doing anything else, the property market is solid as,

thankyou

robots

Vested interests are invariably biased and/or attempt to manipulate sentiment.

Credibility now FUBAR.

 

[Julia]

Actually I would be interested if someone out there new if this were true.

I have been buying houses since the early 90's and I would think that the current interest rate is still low, but of course my recollection only goes back that far.

Have interest rates been lower?

Dave

I'd be interested to know this also, Dave.
Although there have been five interest rate rises under John Howard,
they have only been .25 each time, so that's only 1.25 % which isn't all that much.

 

[toothfairy]

Only a blind (I don't mean literally) or stubborn person will argue that property prices in inner suburbs has not gone up since this thread has started. As a matter of fact, it is going up consistently. I am glad that some people didn't see the trend in 2005 and still deny the trend, that gave some of us more advantages to pick up properties on the way cheaper. Thank you guys.
As for the fear of interest rate hike (use a term from the media), firstly for the pro-active, one can fix the rate now for 3-5 years without much extra costs. That means the consensus is the hike will not be drastic for long. For those who are more defensive, they should also not invest in stock market but put ALL their savings in fixed term deposit to get rich. The only trouble is, don't forget the reason for the rate hike is INFLATION, which will destroy your fix interest. So why bother.

 

[Happy]

Interest rise is a dampener on spending, which explodes because of increased employment, so in effect measure of success to some extent.

How success can be used against the successful government team?
Just exaggerate one thing, not mention another.

We all know, the information can be masaged, to stop short of saying manipulated.