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Exactly, I agree.

Thank you that is really helpful, I greatly appreciate it. As I said I am new to investing and am being more intuitive in my selection, call it old fashioned.

Cheers. Please be respectful. We all have different goals and different ideas and different standards of living. We all have different ways of doing things too. While I respect your investments in southbank, I dont think it's right for me. Please be respectful of that. I am new to this and I...

Yes the west does scare me. While I do see the potential, I think the potential will take a good 10 years to eventuate.

Yep good links re properties. That Coburg place would need a lot of work though, I dont think it's worth 650k. I guess thats my whole problem at the moment. I cant see the worth in any of these places with crazy price tags. The ROI isnt worth it.

Any suggestions on where to buy in Melbourne close to the city, good capital growth? Ultimately a townhouse or small house would be ideal.

I am also gobsmacked by some of the attitudes. Underquoting is illegal. If there is a quoted range of 550-600, then I expect a reserve within that range. Because that's what has been advertised. It's SIMPLE. What happens after that I couldn't give a rats. It might sell for 900k due to...

Aaron, this whole under-quoting business is not just a couple of hours on a Saturday wasted. For me its been a few months. And a lot of money. The reserve should be within the quoted range, as simple as that.

EXACTLY, this is my whole point!!

Well from where Im sitting, it feels that you all accept this game. I don't. It's hard earned money at stake here. And I for one think it's absolute BS.

Heres an example of obvious underquoting in property prices. An auction price range $550 - $600k to drum up interest. Passed in and now listed for $630k private sale. So obviously all along the vendor wanted at least 630k. So why was it listed at $550+? 80k difference. This is an...

Interesting reading, interesting comments... Thanks for all your 'guidance' You are right Bradsdad, I do know what tricks they are up to, I do know that if I see something quoted within a range that I need to add at least 50k, I do know that they quote low to get people in, I know all the...

Yes ok totally get that, and yes the vendor can do what he likes. What Im saying is that this is happening quite a bit. Every property that I have seen that is passed in and is then for private sale is always at least 50k more. Its not a once off.

Oh dear. I am not throwing a tantrum. I am merely stating that what they quote and what they expect are two different things. They are underquoting on a property when they are expecting more. So you are telling me that it is right or normal that a vendor may advertise for a 500k property when...

What are you on about? If I see a property advertised for 550-600 then thats what I am expecting. I am not expecting a 690k. How is that stupid?

Look totally get your post, and totally get that this sorta money is ridiculous. But these vendors aren't budging. I have made an offer on a property that was passed in and has been sitting on the market for about 5 months. I offered 50k less than what he is after. The vendor still wont budge.

Why are agents still underquoting. Wasn't there a shake up a few years ago? A recent property I saw listed at 550k-600k passed in at auction. It was then listed for sale at 690k. How is that legal? _________ are the worst culprits. Also it is targeting the wrong brackets. If it was originally...

The listing says 229/183 City Road, Southbank, Vic 3006 $580,000 - $610,000 Where did you get that figure from? And this one... 28/88 Park Street, South Melbourne, Vic 3205 $520,000 - $560,000 Auction: Sat 23-Jul-11 1:30PM In my experience most of the auction properties are...

Yes I agree and seriously, isnt that ridiculous?

Thanks for all the comments. I am looking at a max of 6-7km out of city. It is to live in. I have approached a few real estate agents and all they say is that there is not that much out there for my price range.