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Rocket Salad

Housing Bubble thread.

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I do agree that people have massive debt but I am seeing in the Melbourne Market less and less properties for sale hence higher prices but more and more doing renovations.

 

That's me.

 

Great I'll get $1.1-$1.2m and happy to spend $1.3-$1.4m but then there's the whole buying/selling costs plus a massive $60k to the govt for nothing!

 

Living in a place I like I'd rather put that in to my house.

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That's me.

 

Great I'll get $1.1-$1.2m and happy to spend $1.3-$1.4m but then there's the whole buying/selling costs plus a massive $60k to the govt for nothing!

 

Living in a place I like I'd rather put that in to my house.

 

 

Im still trying to talk the Mrs into taking the money and moving to Qld now that the house is new and clean and undamaged.

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A big internet mogul like yourself should have at least 4 houses by now Roxii

 

Good tax write offs, one in Port, one in Busso, one in Cairns, and one in Noosa

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That's me.

 

Great I'll get $1.1-$1.2m and happy to spend $1.3-$1.4m but then there's the whole buying/selling costs plus a massive $60k to the govt for nothing!

 

Living in a place I like I'd rather put that in to my house.

 

This is exactly our position. I would ideally like to trade up to something with an extra bedroom and bigger bedrooms, but would be in same boat as Nealo and can't justify the extra cost and changeover expenses. Love our current position and think we will pour a bit more on the mortgage to landscape/plunge pool/deck the yard etc.

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A big internet mogul like yourself should have at least 4 houses by now Roxii

 

Good tax write offs, one in Port, one in Busso, one in Cairns, and one in Noosa

 

:lol:

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Im still trying to talk the Mrs into taking the money and moving to Qld now that the house is new and clean and undamaged.

Just don't let them know you're from Cronulla as you cross the border. I've heard the extra searches get a little personal. :)

 

Edit to add: If you'd made the move last week you could have been supporting a winning team on Thursday.

Edited by Ex-Hasbeen
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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 ...)

Edited by Mjainoz

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That's me.

 

Great I'll get $1.1-$1.2m and happy to spend $1.3-$1.4m but then there's the whole buying/selling costs plus a massive $60k to the govt for nothing!

 

Living in a place I like I'd rather put that in to my house.

we are the same. Just spending 200k fixing my place love the location. 6 minutes to work. 12 to cbd. Cross one street to great coffee shop.

 

But living thru it sucks shit. 4 weeks to go.

 

Plaster goes on next week. And new kitchen on Friday.

 

Then bathroom and other stuff after.

 

It will be worth it when done. Well I keep telling myself that.

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Photos. The amount of dodgy building issues we have come across is crazy. The roof wasn't even attached to 3 of the 4 walls. And this is a 11mtr by 7 mtr room. Builders were shocked we have never lost the roof.

 

So much for getting building inspections.

 

54de9849e268fa549b687c0010278545.jpg

 

4e167a3442a1ee1bfd9a3695e37bd82a.jpg

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Builders were shocked we have never lost the roof.

 

 

Its allright that ALMOST never happens :lol:

 

Although it is a good way to get some cheap renovations done.

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Photos. The amount of dodgy building issues we have come across is crazy. The roof wasn't even attached to 3 of the 4 walls. And this is a 11mtr by 7 mtr room. Builders were shocked we have never lost the roof.

 

So much for getting building inspections.

 

Had a customer who had a similar thing. Bought a house and was getting into massive renos when they found the roof was just resting up there, the weight of the tiles holding it down.

 

Who'd they buy the house from? Local builder who built it himself!

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Its allright that ALMOST never happens :lol:

 

Although it is a good way to get some cheap renovations done.

And can be good chance for national exposure of the Transitions logo

 

6eb1530abb4c9e6c3b44f298f47fe750.jpg

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As some of you know im a builder and some of the shit ive seen over the years amazes me!

Mostly the home owners diy type its crazy!

Ive never advertised in my life only my sign up on the actual job site.i dont have websites with all the flashy pictures bla bla and ive never been out of work and currently booked out for a year and a bit in advance. Also from my house the furthest job ive travel too in the last 8 years has been about 4km ranging from waterfronts to a bathroom reno.

 

So the moral to my dick swinging is if your looking for a builder where ever you may live go for the one with the old ute who is physically on the tools working dosn't advertise much and has always had jobs of word of mouth and ring a client from a few years back they built for and see what they say if you want a reference.

 

Now onto the bubble definitely reno if you like the area why pay 100k just to move to another house with the possibility of shit neighbours etc makes better financial sense .

Or if your in Sydney cash out and go and live life and dont be a salve to the bank...lol

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I bought a new house last year - house was 2 years old when we bought it.

 

My dad was a builder (retired after he finished the ark). So me and dad crawled all over the place before we bought it. I also got all the plans and inspection details etc from someone I knew at Council....

 

Before we bought ee also had a very thorough building inspection done by a guy who used to be a building inspector, but now runs his own show doing building and inspections for purchasers.

 

Now the building itself is solid. Very well put together.... but there is a lot of the ancillary stuff that is just crap. These were things I can fix myself at minimal cost but .... holy jesus some people are dodgy

 

Examples include the last 5 metres of stormwater pipe that I found about 3 inches below the footpath turf..... it then dives 3 feet once inside the property to meet up with the stormwater pipes from the house (yep, water was meant to flow up hill for the final 5 metres to the street ... (fixed for the total cost of $100 worth of new PVC and an hour worth of digging new trenches)

 

Retaining wall (only a little one) that had posts about 10 inches into the ground. (fixed for about $150 with some new timber sleepers from Bunnings - used all the old stuff for garden edging)

 

Landscaping that consisted of a trailer load of gravel and a couple of cactus looking things....

 

A front fence (similar to pool fencing) where they obviously cut one piece too short and just taped it together with electrical tape .....

 

I've fixed 99% of the little things but there were so many (insignificant, stupid little things) that were done dodgy

Edited by TryTriB4Forty

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Well we are committed to going out of sydney.

Ive been a bit nervous etc this week with everything happening  re selling thinking will any one turn up etc .

Realestate agent was confident 

Well farrk me 62 groups of people came through it was a record first off open house for them .

If the bubble is slowing I can't see it.

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10 minutes ago, Rocket Salad said:

If it looks like a housing bubble.....

http://www.abc.net.au/news/2017-03-24/australian-property-bubble-if-it-looks-and-sounds-like-it/8383380

Sell it oldschool.

You might look like the smartest guy in the room by the end of the year.

 

Mate have you seen me ! That would be a miracle! 

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14 minutes ago, Rocket Salad said:

If it looks like a housing bubble.....

http://www.abc.net.au/news/2017-03-24/australian-property-bubble-if-it-looks-and-sounds-like-it/8383380

Sell it oldschool.

You might look like the smartest guy in the room by the end of the year.

 

 

1 minute ago, oldschool69#2 said:

Mate have you seen me ! That would be a miracle! 

All depends on the room mate. :)

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I guess if its just me and the kids in the room ive got a slight chance ..gone for all money though if they start talking I pads smart phones apple tv!

Ps ill be hitting  you up Hasbeen on best bang for buck mowers soon.. as I have NFI!

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were' all gonna die, house prices will crash, keep going up stay the same. Every second week a major news outlet will quote an expert saying one of those things. They do anything except look at the long term trend which is about all that matters.

 

land and housing supply consistently lower than that needed, interest rates historically low, wages staying flat

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2 hours ago, oldschool69#2 said:

I guess if its just me and the kids in the room ive got a slight chance ..gone for all money though if they start talking I pads smart phones apple tv!

Ps ill be hitting  you up Hasbeen on best bang for buck mowers soon.. as I have NFI!

You'll absolutely love it OS. I've been on semi-rural for the past 24 years now (other than when renting while the last house was being built), and can't imagine going back to a suburban lifestyle. Whilst we are kind of suburban, with neighbours fairly close, you still have heaps of room and lots of privacy if you want.

I have the best of both worlds I suppose, with Brisbane CBD only a 27km ride/drive away, but I suppose you Sydney folk would be paying a few Million for 1.5 acres that close in.

 

How big a block are you looking at OS?

Edited by Ex-Hasbeen
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Haha there ain't acerage that close to sydney its or duplex duplex duplex now!

So to tick our boxes we would like 3_5 acres and close to the coast ive gota be near the ocean possible bigger if suits but realistic what am I gunna do with 100 acres ! 

So small acerage with a lot of room around it and views .

We are looking in the Milton area to tick our boxes .

My brother inlaw lives in Malany ? Sunshine coast love it up there too and way more bang for buck on property but just didn't sit well Driving 45 min to basically crowded shitty beach breaks.

So south coast is us!

I said to the wife this morning we are now going to be a 1% that actually has the balls to pack up and leave a beautiful home shit load of work and all the rest and follow the heart.

And have you ever heard a 1% regret it ! They all love it .but I hear alot of older guys saying wish I had of done that 20 years ago!

If you wanna have a sticky beak at our place for sale go to realestate.com 

Caringbah 2229  8 Drake ave click on the video to have a look .

Edited by oldschool69#2
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Gosh, do you use all those ovens......lol.  I have one and the smallest size, but manage to cook 3 things at once!!!!!  Very nice though.  Sorry didn't win lotto last night. :huh::D

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1 hour ago, oldschool69#2 said:

Haha there ain't acerage that close to sydney its or duplex duplex duplex now!

So to tick our boxes we would like 3_5 acres and close to the coast ive gota be near the ocean possible bigger if suits but realistic what am I gunna do with 100 acres ! 

So small acerage with a lot of room around it and views .

We are looking in the Milton area to tick our boxes .

My brother inlaw lives in Malany ? Sunshine coast love it up there too and way more bang for buck on property but just didn't sit well Driving 45 min to basically crowded shitty beach breaks.

So south coast is us!

I said to the wife this morning we are now going to be a 1% that actually has the balls to pack up and leave a beautiful home shit load of work and all the rest and follow the heart.

And have you ever heard a 1% regret it ! They all love it .but I hear alot of older guys saying wish I had of done that 20 years ago!

If you wanna have a sticky beak at our place for sale go to realestate.com 

Caringbah 2229  8 Drake ave click on the video to have a look .

Very nice....

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8 minutes ago, skel said:

Gosh, do you use all those ovens......lol.  I have one and the smallest size, but manage to cook 3 things at once!!!!!  Very nice though.  Sorry didn't win lotto last night. :huh::D

Just remember ...its in the shire..... :)

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In the industry and not saying it's slowing but bought two homes yesterday for people 100k cheaper than we thought. 

But missed another 60 more than we thought. 

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Oldschool,

Nice house. I look like I live in a tent by comparison. Out of curiosity I did a search on 4 bed houses on big blocks over $900k in the Noosa hinterland.

https://m.realestate.com.au/buy/property-house-with-4-bedrooms-size-1200-between-900000-any-in-noosa+hinterland%2c+qld/list-1?numBaths=2&adcall=1490511397368

All you guys can sell in Sydney and live like kings up here.

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Got a 3mil house up the end of my street now days

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4 hours ago, skel said:

Gosh, do you use all those ovens......lol.  I have one and the smallest size, but manage to cook 3 things at once!!!!!  Very nice though.  Sorry didn't win lotto last night. :huh::D

Um nup I cant even turn the things on ..lucky the wife loves her cooking she was bought up in the hospitality industry (Dad was a chef)

The only say I had was the coffee machine!  

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4 minutes ago, oldschool69#2 said:

Premiership winning shire though...lol

Thats why after 41 years  I can now safely leave. .

Better move up here then if you want to follow with another win. :)

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3 hours ago, Rocket Salad said:

Oldschool,

Nice house. I look like I live in a tent by comparison. Out of curiosity I did a search on 4 bed houses on big blocks over $900k in the Noosa hinterland.

https://m.realestate.com.au/buy/property-house-with-4-bedrooms-size-1200-between-900000-any-in-noosa+hinterland%2c+qld/list-1?numBaths=2&adcall=1490511397368

All you guys can sell in Sydney and live like kings up here.

Yep there is some beautiful acreage up there and some great designs we did seriously consider up that way at one stage .

I love the old timber queenslanders .

But where would I watch the Blues..and the mighty sharkies!! With out getting abused. .lol

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13 hours ago, Rocket Salad said:

Oldschool,

Nice house. I look like I live in a tent by comparison. Out of curiosity I did a search on 4 bed houses on big blocks over $900k in the Noosa hinterland.

https://m.realestate.com.au/buy/property-house-with-4-bedrooms-size-1200-between-900000-any-in-noosa+hinterland%2c+qld/list-1?numBaths=2&adcall=1490511397368

All you guys can sell in Sydney and live like kings up here.

Yeah move to Noosa and have to train before 6am as it gets too hot and the whole town shuts down at 8pm.

Sure Sydney people want that.  NOT.

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36 minutes ago, Peter said:

Yeah move to Noosa and have to train before 6am as it gets too hot and the whole town shuts down at 8pm.

Sure Sydney people want that.  NOT.

Then get to Kona & not have to complain about the heat. Sounds good to me.

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Interesting auction in our street on Saturday.  We bought 4.25 years ago from a motivated seller, paid 420K for a house that should have been around 500K at the time.

House in our street, one bedroom less than ours, less land went to auction.  RE Agent might be in a bit of trouble as he listed price guide as 740 - 790K, thought no way this would get it so walked up the road to watch the auction.  Anyway, highest bid was right on 800K and the vendor passed it in.  3 bidders, one chinese family looking to get into the area for the school, another 2 young couples with Daddy (both drove very expensive 4WDs) doing the bidding for them, think the vendor might have gotten too greedy or the agent is giving them bad advice

We're like oldschool, getting agents in to start the chat, looking to move to the acreage end of the year once kids finish school, might need to rent something for 6 months if we decide to sell a bit earlier.  At 800K we'd be completely mortgage free with the prices where we are looking at buying.  2 others in the street might be doing the same thing, so don't want to oversupply the market is the only concern

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7 hours ago, Cottoneyes said:

Interesting auction in our street on Saturday.  We bought 4.25 years ago from a motivated seller, paid 420K for a house that should have been around 500K at the time.

House in our street, one bedroom less than ours, less land went to auction.  RE Agent might be in a bit of trouble as he listed price guide as 740 - 790K, thought no way this would get it so walked up the road to watch the auction.  Anyway, highest bid was right on 800K and the vendor passed it in.  3 bidders, one chinese family looking to get into the area for the school, another 2 young couples with Daddy (both drove very expensive 4WDs) doing the bidding for them, think the vendor might have gotten too greedy or the agent is giving them bad advice

We're like oldschool, getting agents in to start the chat, looking to move to the acreage end of the year once kids finish school, might need to rent something for 6 months if we decide to sell a bit earlier.  At 800K we'd be completely mortgage free with the prices where we are looking at buying.  2 others in the street might be doing the same thing, so don't want to oversupply the market is the only concern

Good stuff re the move!

We can start a topic on ride on mowers !

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My advice if you want to sell is go to open houses for houses exactly like yours. 

You will see the agent in action and also if they call you after to seee if you are interested. 

All agents trying to Ng to get a listing will tell you what you want to hear. 

But will they do it. 

There are some shit agents out there people. 

And call heaps of agents to find their fees. 2% or what. 

 

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11 hours ago, oldschool69#2 said:

Good stuff re the move!

We can start a topic on ride on mowers !

2016-04-14%2008.20.54-1_zpspavyiubu.jpg

Why not? A teaser...

Yesterday I hooked up a tipper trailer so I can more easily move stuff about - have massive piles of woodchip mulch for garden beds to be moved and also gravel to get around the joint. Wheelbarrow is OK on the flat bits but not so fun for longer drags on the hills!

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Here's mine. Got it for 900 from a shop, was a trade in and one of the stuff busted the engine cover so they sold out to me cheap. Best thing about it is it's got a hydrostatic motor, meaning rather than having neutral and 6 separate speeds, it's just got variable speed on the forward and back pedals. With its weight in gold, and I look are everyone around me with their expensive new JD mowers and think HaHa.

We've been in our place for about 8 years now, and hardly even know the neighbours. Do the people on either side and directly across the street. Have never spoken to one diagonallyacross from us and only twice to the one on the other diagonal. Most of the time when you see someone in their backyard you just wave otherwise you have to yell. Never met the people behind us, but they've only been there 6 months. Neither of us spend much time in our back back yards and our houses are 100mtrs apart. For people who are kinda hermit's, it's great.

 

IMG_20170328_073944.jpg

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2 hours ago, Rocket Salad said:

Nice Cox.

lol

I had to go for the zero turn type with all hand controls as I can't easily use a mower with foot controls. As it turns out the size and difficulty of terrain meant it was more stable and suitable option.

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This area is completely different goughy. If someone goes away for a couple weeks, one of the neighbours will usually drop over to mow. There's generally an organised BBQ that at least 100 would turn up to at Xmas & Aus day, and walking the dog usually turns into a major social event, stopping every few hundred metres for a chat. There's even a group of us get together every couple of weeks like an open garden scheme & we check out a garden (usually veges), swap tips, seedlings and excess fruit/veges.

 

I went the tractor style rather than a zero turn, as my intention is to get rid of most of the lawn and have bushland garden. The annoying thing is that at the moment, while I'm halfway to getting there, a zero turn would be a lot better for the tight turns etc I need to do.

The 2 picks below show what it was when I moved in, and what it was a couple months ago. Still a lot of work to do, but it's getting there.

 

Home May 2013.JPG

Home Feb 2017.JPG

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Nice!  

I dont know brands much yet on what is best for $ etc .

But the JD has got me because all the cool kids wear the JD Trucker hats  ..

Thats me I wanna be a cool kid!

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20 minutes ago, Ex-Hasbeen said:

This area is completely different goughy. If someone goes away for a couple weeks, one of the neighbours will usually drop over to mow. There's generally an organised BBQ that at least 100 would turn up to at Xmas & Aus day, and walking the dog usually turns into a major social event, stopping every few hundred metres for a chat. There's even a group of us get together every couple of weeks like an open garden scheme & we check out a garden (usually veges), swap tips, seedlings and excess fruit/veges.

 

I went the tractor style rather than a zero turn, as my intention is to get rid of most of the lawn and have bushland garden. The annoying thing is that at the moment, while I'm halfway to getting there, a zero turn would be a lot better for the tight turns etc I need to do.

The 2 picks below show what it was when I moved in, and what it was a couple months ago. Still a lot of work to do, but it's getting there.

 

Home May 2013.JPG

Home Feb 2017.JPG

Is that a vegie garden ex at the top all fenced and meshed in?

We will be having many conversations to turn me from city slicker to country bumkin if this is the case!

I can't even grow a flower!

 

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That's the chook pen Oldschool, under construction in this photo (I only make the lad sleep there when he's been naughty).

DSC_0023.thumb.JPG.f6403e18c2314a97d15d11f219d6af55.JPG

The vege patch is near the fenceline directly north of the north corner of the house. It's 3 gardens, each about 4.8m x 1.2m, terraced down the hill, and paved around them (picked up 50sqm of clay pavers for a carton) so I have easy access to all of it. I've also got tomatos & lettuce pop up in other gardens so let them grow, passionfruit on the side fence, bananas scattered through the big rainforest section out the back, and fruit scattered through most gardens (actually had home grown avo with breakie this morning).

As for flowers, I love them much more than the veges. This is what I pick out of the back yard for the house.

DSC_0598.thumb.JPG.2d7eeacda000dc90cba37881c05fdba7.JPG

You'll love it.

Edited by Ex-Hasbeen
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You guys and your bloody mowers ..... I lived on a small property in my 20's (for a few years). absolutely HATED all the maintenance. Spent all day every second Saturday mowing, planting stuff, fixing things, etc etc etc.  I was really strategic in planting natives, putting in retaining walls/fences etc etc in order to minimise maintenance etc.... still took HOURS to upkeep everything....

I have no idea why you would want to tie yourself to having to MOW THE LAWN every other weekend, for hours on end!??!

I moved from that property to an apartment/unit near the beach (late 20's) - spent every spare moment outside, at the pub, on the beach etc.  No lawns to mow, no trees to prune ....heaven!

Haven't owned a mower for 15 years until 12 months ago when we bought a larger house .... still, I can get out and get the edges, lawns and sweeping done in under an hour.    I still hate doing it, but atleast it doesn't eat up every weekend!

Can't wait til the kids leave home (in about 20 years) and we can move into an apartment with no lawns ....

 

 

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Anyway, back to housing bubble.....

Had our investment place valued last week (3 bed, 2 bath  townhouse)

Its doubled in value in less than 5 years.

Spoken to multiple agents to get variety of opinion and they are all telling me that if I list it on the market it will be gone in a fortnight.  I have been watching the websites and nearby similar townhouses are selling in matter of days/weeks ..... agents are telling me that they are getting between 20 and 40 viewers through each open home, with some places having multiple offers in place after ONE open home ....

WTF is going on??

I just cannot believe the money people are talking about for a 3 bed townhouse .....one in our complex sold last month in the $630's (it was bought for $310k about 3 years ago).  Two in the block next door have sold since Christmas in the mid 600's ...... they would have been bought for 300k 5 years ago ...

Around the corner there are a couple of (slightly newer) townhouses (same sort of size) listed for prices ranging from mid 600's to mid 700's .....

I honestly can't see how this type of thing can continue...... and yet it just keeps going.   

I'm really torn now ......

Part of me is saying we should sell - doubled our money, plenty of buyers ..... take the profit and put it on our own house ...surely this sort of thing is crazy, it can't go on forever etc

The other part of me is saying what if we sell and prices continue to go upwards ....

Its insane!

Edited by TryTriB4Forty
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