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Thats all too true isnt it Rolf? A few hundred bucks to take tears off the table seems like a sensible spend :)

There is one NRAS lender - firstmac- who have valuation inspections done at each stage of the build, so that this sort of thing doesnt happen. They require a signed valuation report verifying that the work has been completed to the standards outlined within the building contract, and if the...

Some interesting information about Brisbane. An average of 2.5% decline in valuations across the board in the last quarter. Coupled with a further 15-20K being stripped out of the valuation on new investment properties being sold through marketers, these official figures from the ABS...

These forums (like most forums) tend to attract the negative, rather than the positive. That's just the nature of blogs. However, if you read through all the NRAS blogs, there are several positive stories. That being said, there are two issues being complained about in the forum; 1...

Speaking of NRAS property outside SEQld- Providence Housing is a Victorian based NRAS consortium who have just secured 1700 NRAS allocations for Off The Plan units in and around Melbourne. Off The Plan may or may not be your thing , but several lenders have just approved their model...

Marketing fee of 30-35K minus REIQ standard commission of 3% usually equates to something around the 15-20K mark. Add another 10-15K (sometimes worse) because valuers see SE Qld as volatile... and there's your valuation shortfall. In a nutshell, probably 60% of the valuation shortfall is due...

Unfortunately when you buy from marketers who are being paid 30K or more to sell developers property ( they dont just sell NRAS) and most of it is in Queensland, where valuations are already coming down on non NRAS, new property, existing property, all property basically- you will see a lot of...

thats why banks do valuations. If its 50K over what a valuation professional says its worth when a bank commissions them to undertake a valuation, dont go ahead. Plenty of NRAS properties are valuing at or very near to the contract price though, so "overpriced" NRAS property isnt a given. It's...

It's truly terrible that you've had this experience, and it's got to be frustrating as hell, but why do people always insist on blaming Government's for things that go wrong? It's like some default position by which all things that go wrong are the Governments fault. Which arm of Govt do you...

Certainly sounds like you have recourse to sue the builders pants off if they haven't met the terms of the contract. Ultimately, you've been delivered a product that isn't what the building contract specified. Shouldn't be relevant whether the property is eligible for the NRAS or not; the...

Hi Srini No, Im not involved with the selling or marketing or promotion of NRAS properties. :) A quick google search for "NRAS properties" will show you several property marketers who do sell NRAS approved properties, however.

The article appeared in all the Fairfax media and it's just flat out incorrect in regards to NRAS- and this quote especially, is a doozy and tells you all you need to know about the articles research and accuracy :) "A list of ''unacceptable'' buildings obtained by BusinessDay, circulated by...

Not "quite" correct. The article is accurate in so far as it's overview of what the scheme is and how developers qualify to have their properties approved to be NRAS eligible ( including the criterion set down by the state and fed Govt's in determining which properties they will allocate NRAS...

Talk to one of the consortiums - they may be able to help you, but at a guess I would think your development is too small.

Everyone needs to make their own decisions on the merit of any investment, whether it be a property, shares, or anything else. Form my perspective ( and its mine- doesn't have to be yours) the coming years represent limited opportunity for capital growth. I say that because, while there are...