Mortgagee property sales happening already!!

[wayneL]

Well if you are in Wandina you know that their are areas of Gero that don't look like Rangeway Utakarra etc,.Realist already thinks West Oz is a two head location, don't fuel his fire with posts of a humpy looking joint.

Of course not. That in not even remotely my point.

I was comparing the prices in a state capital in the US, to the worst part of a country WA town.

The value comparisons are obvious

 

[wayneL]

Bloks such as these were 58k 2.5 years ago in Gero, West Oz. They are now 300k.

It is absolutely unrealistic to assume they will crash 300%. Realist?

Wayne one of my land investments is on Barret Drive, (The one with the Cement retaining blocks at the Road edge).

Sure Sydney may have Mortgagee sales, but you cannot deny that many West Oz property punters are way ahead on gains.

Buying sound real estate is much like buying a fundamentally sound stock at a basement SP.

Bargain buy for 58k,considering the views just as ZFX was a bargain buy at $4, all the analysts were calling it overpriced then and how wrong were they.

What say you with Crude @ $200 bbl and base metals at 60% of current prices?

 

[Freeballinginawetsuit]

What say you with Crude @ $200 bbl and base metals at 60% of current prices?

I would say that is a very bullish stance, are you really a bull Wayne?

I would certainly agree Nickle and Zinc could achieve 60% in the next year, oil at 200 bucks is a bit to bullish for me!

 

[Smurf1976]

Bloks such as these were 58k 2.5 years ago in Gero, West Oz. They are now 300k.

It is absolutely unrealistic to assume they will crash 300%. Realist?

This aeroplane was flying at 5000 feet an hour ago. An hour before that it was on the ground. Now it's at 30,000 feet so there's no chance of it coming back down...

Unless the engine just dies without warning. When that happens, any sort of controlled landing that doesn't end in a fireball suddenly becomes rather attractive. That it's the middle of nowhere and a bit inconvenient suddenly ceases to matter.

Now, if our economic / credit growth engine should sputter...

 

[robots]

hello,

what determines if it is undervalued or overvalued?

will those apartments appreciate to the prices of new york?

thankyou
robots

 

[Freeballinginawetsuit]

This aeroplane was flying at 5000 feet an hour ago. An hour before that it was on the ground. Now it's at 30,000 feet so there's no chance of it coming back down...

Unless the engine just dies without warning. When that happens, any sort of controlled landing that doesn't end in a fireball suddenly becomes rather attractive. That it's the middle of nowhere and a bit inconvenient suddenly ceases to matter.

Now, if our economic / credit growth engine should sputter...

Whats your point?.

Maybe your talking about a shares SP in a specky company, or are you really using this analogy on a fundamentally sound company such as ZFX,KZL,MRE in a resource boom, if thats the case then your missing out!. The proof is in the profit made on these Smurf.

Or are you talking about land with ocean views in a booming regional hub town with great weather, beaches and facilities with the state gov spending over 300 mil last year in!.

My anology is that if you treat property investment with the same entry stratagies of sound company stocks you are laughing.

As with life,relationships,business's,athletes,property,shares etc, Effort put in is Rewards gained.

Negativity and looking at worst case scenarious will get you nowhere, just another number with the masses.

You only get one swing at the stick, why not give it the biggest swing you have. The achievers in the world are the ones that give it a go, with sound understanding of risks but still go hard.

 

[wayneL]

Freeball

Have you ever lived in Geraldton? How long have you been associated with Geraldton?

 

[Freeballinginawetsuit]

Freeball

Have you ever lived in Geraldton? How long have you been associated with Geraldton?

I live in Sorrento in Perth.
Invested in Gero cause it was undervalued and had potential, Beaches,Views, redevelopment of marina foreshore, good facilities etc. Used to pass through it on my way to Kalbarri ( you must agree Kalbarri is pristine Wayne).

I also have family there (Big Sis & Nieces Nephews), they own the 2 story joint adjacent to the Surf Club Park.

 

[wayneL]

I live in Sorrento in Perth.
Invested in Gero cause it was undervalued and had potential, Beaches,Views, redevelopment of marina foreshore, good facilities etc. Used to pass through it on my way to Kalbarri ( you must agree Kalbarri is pristine Wayne).

I also have family there (Big Sis & Nieces Nephews), they own the 2 story joint adjacent to the Surf Club Park.

Missus was raised here.

I've spent time here since the seventies

Geraldton goes through periods of extreme stagnation. In the late nineties this place was almost like a ghost town.

You've done well and bought at a very good time. But once oversupply and declining base metal prices take effect, plus extremely expensive petrol, rising unemployment etc, things will change here.

Consider the reason why you were able to pick up those blocks so cheap a few years ago. Heck, 5-6 years ago, you could pick up tarcoola beachfront for 35k.

Not saying it will get back to that, but it will change believe me. It's all part of the cycle. This has all happened before here.

 

[juddy]

wow, a blast from the past here. I worked real estate in Gero in the mid to late nineties. Here's a few I remember: such as blocks in Utakarra and Karloo for sale at the 6-8k mark and having no chance in hell of turning them over. I sold the house I was renting for the owner in Bosley Street, Sunset for 98K (80m from the Caravan park and beach). Half an acre with a 2x1 in Beresford (potentially beautiful views of Champion Bay from a second storey) for 34k. A number of 5 acre blocks on the eastern side of Chapman road (just before Drummond's) for 22k each. Boy was the market dead then, especially after they canned Oakajee and Kingstream went under.

No offence Freeball, but you do sound like someone who has only experienced extremely bullish markets. Just take care when Wayne and his ilk come visiting and remember the good times don't last forever and what seem like bargains in a bull market are usually overpriced or unsaleable in a bear.

 

[Freeballinginawetsuit]

Totally agree Wayne, Gero had stagnated for 6 years and I bought in just at the end, and big!.

I will treat my investment exactly as I do with shares. Invest big in the sound fundamentals, ride it to a high and dump when it loses momentum. Re-evaluate and put my coin were the best returns are.

Obviously I will always own the house I live in regardless of what property prices are doing, but as for my property investments, I will watch my holdings closely.

The Gero block I will keep though ( the views are spectacular) and demand will all remain in property with said views.

Cheers,
Mark.

 

[Freeballinginawetsuit]

wow, a blast from the past here. I worked real estate in Gero in the mid to late nineties. Here's a few I remember: such as blocks in Utakarra and Karloo for sale at the 6-8k mark and having no chance in hell of turning them over. I sold the house I was renting for the owner in Bosley Street, Sunset for 98K (80m from the Caravan park and beach). Half an acre with a 2x1 in Beresford (potentially beautiful views of Champion Bay from a second storey) for 34k. A number of 5 acre blocks on the eastern side of Chapman road (just before Drummond's) for 22k each. Boy was the market dead then, especially after they canned Oakajee and Kingstream went under.

No offence Freeball, but you do sound like someone who has only experienced extremely bullish markets. Just take care when Wayne and his ilk come visiting and remember the good times don't last forever and what seem like bargains in a bull market are usually overpriced or unsaleable in a bear.

Bummer Juddy, Think of the commissions you missed out on in the past 2 years.

Selling Gero in the Ninety's must have been like selling ice to the eskimo's.What did you live on, baked beans and water!

 

[juddy]

Yep, but I would have had to wait five or six years to get those commissions

I was lucky having a wife with a steady job which supplied the food.


...and speaking of Utakarra. I always did the home-opens for the female reps out there.

 

[Freeballinginawetsuit]

...and speaking of Utakarra. I always did the home-opens for the female reps out there.[/QUOTE]

Surely not for the security hey! Cmon Juddy youre a true Norwester and couldn't miss an opportunity LOL.

 

[Smurf1976]

Whats your point?.

Maybe your talking about a shares SP in a specky company, or are you really using this analogy on a fundamentally sound company such as ZFX,KZL,MRE in a resource boom, if thats the case then your missing out!. The proof is in the profit made on these Smurf.

Or are you talking about land with ocean views in a booming regional hub town with great weather, beaches and facilities with the state gov spending over 300 mil last year in!.

My anology is that if you treat property investment with the same entry stratagies of sound company stocks you are laughing.

As with life,relationships,business's,athletes,property,shares etc, Effort put in is Rewards gained.

Negativity and looking at worst case scenarious will get you nowhere, just another number with the masses.

You only get one swing at the stick, why not give it the biggest swing you have. The achievers in the world are the ones that give it a go, with sound understanding of risks but still go hard.

The point is quite simply that the recent past offers no useful indication of what happens next.

If you examine the recent past of an aeroplane that has been in the air for two hours then you'll likely conclude that it will keep increasing its altitude forever. At worst it will reach some stable altitude and remain there.

Study the same aeroplane over a longer period and you will find that it takes off, ascends, flies, descends and lands. A cycle that is repeated for every journey. A more thorough examination will reveal that the plane can't remain off the ground permanently since it needs to refuel and also requires frequent maintenance during which it must, in practice, be on the ground.

What's this got to do with property? Quite simply, I suspect that those who argue that a crash "can't" happen are only looking at the time since the plane left the ground. They simply haven't looked at a long enough time span to see what really happens over the full cycle.

 

[Freeballinginawetsuit]

[QUOTE=Smurf1976]The point is quite simply that the recent past offers no useful indication of what happens next.

If you examine the recent past of an aeroplane that has been in the air for two hours then you'll likely conclude that it will keep increasing its altitude forever. At worst it will reach some stable altitude and remain there.

Study the same aeroplane over a longer period and you will find that it takes off, ascends, flies, descends and lands. A cycle that is repeated for every journey. A more thorough examination will reveal that the plane can't remain off the ground permanently since it needs to refuel and also requires frequent maintenance during which it must, in practice, be on the ground.

What's this got to do with property? Quite simply, I suspect that those who argue that a crash "can't" happen are only looking at the time since the plane left the ground. They simply haven't looked at a long enough time span to see what really happens over the full cycle. [/QUOTE]

Personally I would only invest in Qantus. They have good fundamentals as an airline.

Take off,fly and land, but never crash!, fundamentally a good stock.

lol.

 

[wayneL]

...and speaking of Utakarra. I always did the home-opens for the female reps out there.

You must be able to look after yourself Juddy. I wouldn't be comfortable without being accompanied by a platoon SAS commandos. LOL

 

[dubiousinfo]

Personally I would only invest in Qantus. They have good fundamentals as an airline.

Take off,fly and land, but never crash!, fundamentally a good stock.

lol.

Qantas has in fact had a plane crash. The often quoted statistic that they have never had a crash is incorrect.

As for the share price, who knows, aviation is a very risky business to be in.

 

[dubiousinfo]

I would say that is a very bullish stance, are you really a bull Wayne?

Due to an identity crisis Wayne is not currently sure, but counseling is helping. We wish him well. :

 

[tech/a]

Qantas has in fact had a plane crash. The often quoted statistic that they have never had a crash is incorrect.

As for the share price, who knows, aviation is a very risky business to be in.

Think you'll find as an International Carrier that statistic remains intact.

Which of course is highly relevant to Housing!!!!