Rocket Salad

Housing Bubble thread.

281 posts in this topic

Well its Sold!  Bit of mixed emotions our dream home I built is no longer .

We are excited ..nervous. .all in one kids are pumped I was quite chuffed to see there happy little faces when we told them tonight. 

So it was on for 14 days we had 95 groups through in total and I still find this hard to believe but agent said we had 3298 email enquiries so my theory on the bubble is ...what farrkin bubble.

Any way look out for my new topics ..

Lawn mowers..

Vegie Gardens...

Best bang for buck MTB

and wear do I get an R.M Williams sticker of the bull horns for my ute...lol

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On 07/03/2017 at 11:01 PM, Mjainoz said:

I'm on the market. Not buying for now.

If history repeats, when I make a move like this the market will run hard for a few years after, and I miss 25pct plus (happened twice now.) but surely not this time ...

 

Thinking ... rates is US will go up. Aussie will follow suit. Banks are at capital adequacy limits re their housing loan books. And it looks like Labor is a chance at next election and will bring in some calming legislation ( hopefully smarter than stamp duty removal- what moron failed economics there ...)

Sold 10 days back. Near 10 pct more than we thought 3 months back. 20 pct more than 2 years back. About 8pct pa growth over 12 years ...  lotsa flat years early on 

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9 hours ago, oldschool69#2 said:

Well its Sold!  Bit of mixed emotions our dream home I built is no longer .

We are excited ..nervous. .all in one kids are pumped I was quite chuffed to see there happy little faces when we told them tonight. 

So it was on for 14 days we had 95 groups through in total and I still find this hard to believe but agent said we had 3298 email enquiries so my theory on the bubble is ...what farrkin bubble.

Any way look out for my new topics ..

Lawn mowers..

Vegie Gardens...

Best bang for buck MTB

and wear do I get an R.M Williams sticker of the bull horns for my ute...lol

Well done mate, did you set the record???

 

Oh and don't forget a Carnargo Pub sticker and big arse aerial for the ute. 

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Got the C.B and 2 way already! Came with the ute when I bought it! Haha.

Yer went good we are Happy .

Cheers

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Nearly 2 years since the thread started about the bubble busting. 

Still not happened. 

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Watching the inner city brisbane unit prices closely. One I was watching was bought for 589k in 2014 and just sold for 440k.

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So just going to vent some anger for people that know me I consider my self very placid and take what ever comes along in my stride .

So as ive posted our house sold we ask the agent to keep sale price private and we haven't whispered a word we know it becomes public after settlement and that's fine and im 100% confident the agent is in our corner I know him personally and his a great bloke.

So one of the reasons we wanted it quite was just to keep the farrking sticky beaks and gossip farrkers of the area away.

So we get back from holidays today and the neighbours drop oh we know what you got its on a flyer! Another agent who happens to live in our street is selling a property around the corner and has it on his flyer (wrong though) as well as the land size being wrong.

This ****ing grub is pissing me off just on principal of the matter if the price is not listed how the truck can he dribble  that he knows ? Is it because he is talking the land size down to be compatible with the one he is selling?  Trying to trick potential buyers?

Surley he can have the decency to wait until rpt data comes out?

 Am I just pissed for know reason?

Should I ring him and tell him his a grub and get ya facts right and respect peoples wishes? In a polite but bloody sarcastic way ! That he knows he is a parasite of the housing industry with no morals ..its not hard to be honest !

Anyway maybe I should just let it slide and keep calm. ..lol

 

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Ahhh fark I cant keep calm its eating at me..

I know the purchaser we have no control over but seriously who goes around talking about that shit.

 

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So is he lying about the price being higher than you got, and the land size smaller? I'm assuming that's it. Certainly not hard for an estate agent to come up with some "facts" themselves. They'd certainly have a clue what they'd list it for.

Since stuff is passing around anyway, maybe stick one of those corflute signs in your yard like the agents do (inside though, not outside), saying that an agent in the neighbourhood is lying about the land size and sale price of my house to trick other potential buyers and sellers in the area.  Or print up some of your own flyers.

You're moving, so who cares if you ruffle a few feathers.

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20 hours ago, Merv said:

Watching the inner city brisbane unit prices closely. One I was watching was bought for 589k in 2014 and just sold for 440k.

haha 

units.  haha  dumb investments compared to houses.

Body Corporates. Other costs. Common walls.

 

Why would you/

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With the over supply and price drop, can you expand on why they are a poor purchase to live in or rent out ?

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6 hours ago, Peter said:

haha 

units.  haha  dumb investments compared to houses.

Body Corporates. Other costs. Common walls.

 

Why would you/

 

Ive had a unit double in price in 5 years.

Rent has covered all the costs during that period....thats why people would....

Made a few hundred thousand $ for doing sweet FA....

Body corporate means all the usual outdoor issues are looked after by someone else (garden maintenance, trees, fencing, drainage etc).... we have a good body corporate admittedly.

One of the best investments we've ever made..... wish id bought ten of them!

 

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On 4/18/2017 at 6:56 AM, goughy said:

So is he lying about the price being higher than you got, and the land size smaller? I'm assuming that's it. Certainly not hard for an estate agent to come up with some "facts" themselves. They'd certainly have a clue what they'd list it for.

Since stuff is passing around anyway, maybe stick one of those corflute signs in your yard like the agents do (inside though, not outside), saying that an agent in the neighbourhood is lying about the land size and sale price of my house to trick other potential buyers and sellers in the area.  Or print up some of your own flyers.

You're moving, so who cares if you ruffle a few feathers.

Price was very close land size smaller obviously talking shit to his clients etc.

So first thing this morning I went down to their office and confronted him . Laid it out and said its just wrong mate its private and non disclosed for a reason.

He back pedal real quick and said he would pull it straight away.

I asked how he got the information because know one knows he told me another agent I guessed that pricks name in two !

It was the same bloke who was asking my neighbour during the sale period what offers we had in his Driveway! 

Farrking over them absolute grubs .I know it gets let out soon on rp data but show some respect for peoples wishes until that time thats why I have a bee in my bonnet. 

We are no looking into see if there is a board of ethics for the industry they will be getting a call to see if they can give a written warning or something so other people can have their wishes respected.

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Board of ethics for Real Estate agents. :lol:

Talk about being busier than a one legged man in a bum kicking contest!!

 

Some times it is hard to reconcile guys like your agent are part of the same profession.

We got done over on rent when the agent knew we weer hit by a tornado and had nowhere to live, as soon as he heard it was insurance money it went from 700 a week to a "bidding war" that took it up to $850  a week. 

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Yes the whole industry is built on a chess game of bullshit and poker face!

And they make a shit load for doing about 20hrs work all up.per sale !

But thats the game and good on em 

The good ones have respect and decency towards other people .

The guy tried to ring me this afternoon .i let it go .he left no msg...

Think ill just move on and enjoy my new place and mower! Lol

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We've just started investigating options of buying a block of land and building on it.  Seriously underestimated the cost of building.  We can buy an existing block of land with house of $450K average at present in the country, to buy the land and build equivalent house we are looking at around $600K minimum (250K for block and the rest on the house).  I'm starting to wonder whether the building costs are keeping the prices up

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Wow, that's a big difference. We weren't even contemplating building when we did. We kept looking at existing houses that weren't quite right, and when we looked into it it wasn't gonna cost us more to build what we wanted. That wasn't even a crap cheap ass builder like Coral either.

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54 minutes ago, goughy said:

Wow, that's a big difference. We weren't even contemplating building when we did. We kept looking at existing houses that weren't quite right, and when we looked into it it wasn't gonna cost us more to build what we wanted. That wasn't even a crap cheap ass builder like Coral either.

Who you calling "crap cheap ass". 

They actually do build some nice homes, but you don't see them in the display villages because they stretch the width of 2 blocks or more. We went with them and whilst there were a couple of issues, I can't fault the workmanship or the finish. Two others built with them in the estate and both happy as well. About a 3rd went with a "more appropriate" builder for the area, as we were told at the time. They were quite a bit dearer at the time for what we wanted, so stayed away. I haven't met a single person who is happy with either the house, or the experience.

I built with an independent builder who had been operating for 20 years the time before, and although I was happy with the result, come 2 years later when I went to try to resolve a drainage issue, he'd dissolved the company & gone to NZ.

Likewise though Goughy, if you buy & build in our area, you can get away for about $200,000 less than what the same house is selling for as established. And I'm including pool & landscaping costs in that as well.

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Oops, foot n mouth!

Nah, not really. Don't have the best reputation up here, particularly with our soil types. Not so bad in town which is on red soil. But all the outskirts which are usually highly reactive black soil. One of the big name builders in town has told me they've learnt their lesson of using their engineers from the sunny coast who don't seem to understand our footing requirements.

In my neighbourhood I know of 5 Coral built homes. One of those has waffle pods for the foundation, the other screw piers. Of the 5 homes, two have had to have structural repairs due to 'issues', and a third family fought with Coral for 3 years, with the end result being Coral had to demolish and rebuild their home from scratch. We personally know those 3 families, so we know the problems were real. We can't say if the other two have our haven't had problems.  Another friend of ours has a Coral home on the other outskirts of town and they had to have a lot of repairs done when the skirtings were separating enough you could fit you hand between them and the floor.

Another 3 month old home my brother looked at had a crack on the wall above a bay window. The crack was separating left and right, but also was no longer flush, with one side moving outwards.

They build a cheaper home, and you get a lot more space for your money. Even our bank was happy to see we weren't building with them (or Devine), as back then they had a massive amount of the Toowoomba market, and we were very much their target demographic. Our builder said Coral and Devine had more than 80% of the local market between them when we were building.

Edited by goughy

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The other thing about building we were looking at was to go a kit home, we first thought of this a few years ago and investigated a building company called alternate dwellings.  Went to look at their homes to compare prices to yesterday and they went belly up a few months ago leaving customers around $2Mill out of pocket.  Between the cost and the risks of a builder think we are leaning heavily back towards buying established.  Shame as I just found a good 4 acre block in the middle of one of our target towns which would have been the best of what we were looking for (land and proximity to services and schools)

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16 hours ago, oldschool69#2 said:

And they make a shit load for doing about 20hrs work all up.per sale !

A good agent would spend that much time on the phone hustling buyers.

I'd suggest (from my experience) that it's closer to 60 hours.

Its not just the 4 weeks of 2 open houses per week. (8hrs)

Actually signing the client and the prep with data and proposal would be at least 4 hours and you want that to pay off.

Then photos.

Getting there for building inspections.

Booking those people in and coordinating with vendors

Meetings with everyone at the agency about where you are at.

Then calls to followup or get new ones thru.

Then the auction day is a good 4hours per house.

then there is the work on monday post auction chasing the deposit and talking to the lawyers

then the followup calls to make sure everything is going to schedule.

then the pre settle inspection.

It's WAY more than 20 hours for a good agent.

Sure some agents can do none of that but then you won't get a good sale.

A good agent and a bad agent could be a difference of 10's of thousands of dollars.

and who wants to throw away 30-50K because you got a bad agent.

I see it weekly.  I love the bad agents (Note I am a buyers advocate)

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On 17/04/2017 at 2:35 PM, Peter said:

Nearly 2 years since the thread started about the bubble busting. 

Still not happened. 

3 Govt agencies not moved.  

Res Bank - interest rates haven't moved up

APRA - is only making a little bit of noise, nothing too serious.

Govt - no Cap Gaims tax or Neg Gear changers. 

Will take 1-3 of those to start any 10 pct down move. IMO. Maybe ex Melb and Bris apartments. 

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