Change in wind 2. For GoAnna!

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From: Peter Davidson


Hi GoAnna!,

In a previous post you said that "In the area and properties I have been following it appears that property prices have fallen by 10% over the past 3 weeks", referring to the Melbourne market. Which suburbs are these?

By the way, watch "Today Tonight" at 6.30pm tonight. Heading is "Beware, the bigger the boom, the bigger the bust". Advert talks about dodgy real estate agents saying that property is on the way up again, when in fact, they have evidence that a bust is inevitable. Guess we'll find out a bit more tonight.....

Regards,

Pete.
 
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Reply: 1
From: GoAnna !


Pete

I suburb and only one specific type of property within that suburb...inner south eastern. I don't wish to point my finger at this suburb because it is a solid growth area and my fellow investors would kill me!

There are a number of ways to look at the numbers.

A handful of properties from August to mid September achieved prices approximately 10% above previous and post sales. I wait with interest to see if those higher prices will be achieved again this year or continue to fall.

I will watch the show tonight.

GoAnna !
"The real measure of your wealth is how much you'd be worth if you lost all your money."
 
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Reply: 1.1
From: Peter Davidson


I thought the people on this web site were your fellow investors? Oh well, so much for sharing ideas and information. Thanks for the little info you provided anyway.

Regards,
Pete.
 
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Reply: 1.1.1
From: Michael G


Pete,

Please don't feel like that. You have to remember houses are unlike shares, there's not thousands to choose from. So if one were to say hey I'm looking at this great deal at 1/234 Bargin St do you think it will be left untouched? maybe/maybe not.

A tad different from saying hey look at Telstra the volume is down 1/2 a mil and its dropped $2, looks like a good buy.

What we do try and do on this forum is exchange ideas, concepts and sometimes show you the numbers of deals that we've done.

What we won't do is jepordise a purchase before settlement has completed.

Maybe the question is, not where the property is, but what criteria does GA use to locate such deals. Maybe she has a nice checklist system?. For example when I bought my 1st property I used the same checklist the Investor's Club originally used (its changed a little now), but that got me a nice townhouse in the outer west of Sydney (Quakers Hills which has had a 43% growth in the last 3 yrs).

So don't ask things that make people uncomfortable, its not nice, ask what they would be happy to share and make a friend.

Michael G.
 
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Reply: 1.1.2
From: GoAnna !


Hi Pete

I am more than happy to share ideas and information but I am acutely aware that a little information is a dangerous thing. And at the moment all i have is a small amount of narrow information within a particular suburb. I would not want this information to be misinterpreted into meaning anything more than it does...a small snapshot within the huge Melbourne market.

I follow these figures just as i follow the clearance rates in a attempt to keep my finger on the pulse. If I had the time and motivation i would broaden my research.

So I cannot tell you if these figures are typical, exceptional or otherwise. And therefore I hesitate to point my figure at a suburb. I was hoping that if we all shared a little information on our patch then together we could build a picture of what is happening.

BTW I have no intention of buying into this suburb into the near future.

GoAnna !
"The real measure of your wealth is how much you'd be worth if you lost all your money."
 
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Reply: 1.1.1.1
From: The Wife


Have I lost deals because I have given to many specifics about areas and where I am buying?...yes

TW
~Life is a daring adventure, or nothing at all~
 
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Re: Change in wind 2. For GoAnna!

Reply: 1.1.1.2
From: Yuch .



Hi Pete,

Also some people may have signed a confidentiality agreement with a group
of investors and they are bound by the agreement to be silent about
details. But I am sure that most people are still very happy to share ideas
and most importantly get some feedback from other investors on the forum.

Happy investing!

Regards,

Yuchun Chen
Market Management Systems
NEMMCO Ltd
(02) 8838 5042

I am the Master of my FATE, the Captain of my SOUL, but a Slave of my
STOMACH






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Reply: 1.1.2.1
From: Michael Croft


Hi Pete,

To back up TW's statement, I too lost a great deal because I posted the just the suburb here. Cost me about $300k! It was to be a dual occ and I was going to post the blow by blow of find and purchase, through to development and sale/hold.

Some person from this forum (who shall remain nameless) killed it for all by confusing the vendor, so we all lost out.

regards, Michael Croft
 
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Reply: 2
From: Peter Davidson


Ok.
 
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Re: Change in wind 2. For GoAnna!

Reply: 1.1.1.2.1
From: Jeremy Laws


Then you havent found enough areas TW et al - there is plenty for everyone. Stop battling! In a country where only 40ish % of the population own hovels there IS enough for everyone. If not you aren't looking hard enough.
Teach you all to stop stuffing around with written offers! he he:)
if its that good, when you find something you buy it, and frankly I doubt any deal is THAT good that you have to protect it with your life!
 
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