Author Topic: House Hunting.  (Read 2364 times)

Offline Stalin

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Re: House Hunting.
« Reply #15 on: June 24, 2016, 02:47:25 PM »
Something in  an average suburb went for 2.9 yesterday....

It'll crash just a question of when

The debt levels are unsustainable

yeah by 20% and everyone will call it a crash, but in reality is its a slight correction and will just come back to 2013 levels.

massive land shortage unlike what happened in the states so a us style crash will unlikely never happen.

Stocking market spluttering Atm

I for one welcome our new overlords total financial colapse
Then he grabbed two chopsticks and stuck them in his mouth , pretending to be a walrus

Offline Dougeytherichmondfan

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Re: House Hunting.
« Reply #16 on: June 24, 2016, 08:58:03 PM »
One of my favourite quotes; from Warren Buffett

"Be fearful when others are greedy and greedy when others are fearful"

Offline Stalin

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Re: House Hunting.
« Reply #17 on: June 24, 2016, 09:07:14 PM »
My fav is:

"I pay less tax (%) than my assistant"

Then he grabbed two chopsticks and stuck them in his mouth , pretending to be a walrus

tony_montana

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Re: House Hunting.
« Reply #18 on: June 26, 2016, 09:59:22 AM »
some good advice in here, what area are you looking at? North, west, east, south east, inner?

Agents really shouldnt be underquoting now. If there is no price listed do your own research like Angus suggested. Once youve dialed in on the area you are set on then attend as many open homes and auctions as you can, as well as looking at sold history in the suburb on realestate.com.au. That way you'll get a good idea of market value.

If bidding at auction, make sure you have your finances approved and deposit ready, don't start bidding early, but if you really want the property and it looks like it will pass in, make sure you are the final bidder before it gets passed in to give you first rights of negotiation. So many people dont bid and are then surprised they didnt get a chance to negotiate after the auction bc the highest bidder has gone inside and negotiated the sale.


Offline Dougeytherichmondfan

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Re: House Hunting.
« Reply #19 on: June 27, 2016, 06:17:54 AM »
some good advice in here, what area are you looking at? North, west, east, south east, inner?

Agents really shouldnt be underquoting now. If there is no price listed do your own research like Angus suggested. Once youve dialed in on the area you are set on then attend as many open homes and auctions as you can, as well as looking at sold history in the suburb on realestate.com.au. That way you'll get a good idea of market value.

If bidding at auction, make sure you have your finances approved and deposit ready, don't start bidding early, but if you really want the property and it looks like it will pass in, make sure you are the final bidder before it gets passed in to give you first rights of negotiation. So many people dont bid and are then surprised they didnt get a chance to negotiate after the auction bc the highest bidder has gone inside and negotiated the sale.

Yeah we're looking at that inner north area at the moment, which varies a lot depending on suburb. Have been going to a lot of inspections and attending auctions recently.

Actually had a really good crack at a place on the weekend, but got smashed in the end. Had the highest bid when it was initially passed in and then came out and reset and it was officially on the market to the highest bid. Enter 2 bidders that hadn't said a word at this point.

Ended up finishing 10% higher than what I had.

Good experience but I've got a lot to learn.

Would anyone suggest going through a buyers agent? I hear it can help with the process, but I don't like the idea of having to pay thousands on top of the settlement price (stamp duty is already a massive mood killer). I'm thinking of looking into it as we had a look at some of the places that sold on saturday in our price range in the areas we're looking at and half of them were as good (if not nicer) than the one we missed out on.


Offline Diocletian

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Re: House Hunting.
« Reply #20 on: June 27, 2016, 12:55:09 PM »
Dougey living in the inner city.....there's a surprise.....
We came here to entertain you
Leaving here we aggravate you
Don't you know it means the same to me

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tony_montana

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Re: House Hunting.
« Reply #21 on: June 27, 2016, 01:42:56 PM »
some good advice in here, what area are you looking at? North, west, east, south east, inner?

Agents really shouldnt be underquoting now. If there is no price listed do your own research like Angus suggested. Once youve dialed in on the area you are set on then attend as many open homes and auctions as you can, as well as looking at sold history in the suburb on realestate.com.au. That way you'll get a good idea of market value.

If bidding at auction, make sure you have your finances approved and deposit ready, don't start bidding early, but if you really want the property and it looks like it will pass in, make sure you are the final bidder before it gets passed in to give you first rights of negotiation. So many people dont bid and are then surprised they didnt get a chance to negotiate after the auction bc the highest bidder has gone inside and negotiated the sale.

Yeah we're looking at that inner north area at the moment, which varies a lot depending on suburb. Have been going to a lot of inspections and attending auctions recently.

Actually had a really good crack at a place on the weekend, but got smashed in the end. Had the highest bid when it was initially passed in and then came out and reset and it was officially on the market to the highest bid. Enter 2 bidders that hadn't said a word at this point.

Ended up finishing 10% higher than what I had.

Good experience but I've got a lot to learn.

Would anyone suggest going through a buyers agent? I hear it can help with the process, but I don't like the idea of having to pay thousands on top of the settlement price (stamp duty is already a massive mood killer). I'm thinking of looking into it as we had a look at some of the places that sold on saturday in our price range in the areas we're looking at and half of them were as good (if not nicer) than the one we missed out on.

Yep, a lot of serious bidders wait till the end before they start bidding. I wouldn't recommend a buyers agent - you will pay fees and also pay more for the property. Agents love dealing with buyers agents as they generally have clients pay top dollar to make sure get the property. Not worth it mate, find a few agents you like to deal with that understand your needs and deal with them. I sent you a PM.

Offline yellowandback

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Re: House Hunting.
« Reply #22 on: June 28, 2016, 07:34:51 PM »
Don't worry about a buyers agent. Fully agree with TM on that one. Waste of money, in fact when I do see a buyers agent, I normally step away from the auction as they end up paying overs on behalf of their "client".
I've bidded for a few auctions, normally go early - not the first bidder but fairly early on. Generally speaking, if you are there and bidding at the end - and bid assertively - people can get to thinking you're not going to buckle and end up buckling themselves.
It's that simple Spud
"I discussed (it) with my three daughters, my wife and my 82-year-old mum, because it has really affected me If those comments were made about one of my daughters, it would make the hairs on the back of my neck stand up. I would not have liked it at all.

Offline Red Ranger

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Re: House Hunting.
« Reply #23 on: July 15, 2016, 11:12:13 AM »
I like the auction results from realestateVIEW for Victorian auction results because theirs go up before the other big sites and get them emailed to me every week.

http://www.realestateview.com.au/sales-and-auction-results/victoria/a/

Go find your suburb by the letter it starts with. It's a good way to get an idea about your area right now.


Offline 1965

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Re: House Hunting.
« Reply #24 on: January 26, 2018, 01:17:42 PM »
Dougy

Did you ever buy a house?

Offline Dougeytherichmondfan

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Re: House Hunting.
« Reply #25 on: January 26, 2018, 11:57:23 PM »
Dougy

Did you ever buy a house?
Hey mate,

Cheers for the question. I really should have followed up with the news. We actually got ourselves a little place, more or less where we were hoping. We've been settled in for well over a year now, absolutely loving life. What a year it was for us last year with the flag, the new place! Does life get any better?

Thanks for all the tips and help guys. We really did use a lot of it. I'm a little shattered that TM doesn't post here anymore, shout out to him for giving me some fantastic help during the journey. Gave me some time and help that he didn't have to at all.

Go tiges!  :gotigers

Offline Yeahright

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Re: House Hunting.
« Reply #26 on: February 26, 2018, 06:20:30 PM »
Did you follow my advice? If you didn't, I'm concerned for your safety

Just don't move where Bo lived, lots of dark alleys and people crossing the street to tell you things.