Melbourne's Hot Property Market

[Monopoly]

Give monopoly a break guys. She bought a house and it looks like it has appreciated nicely even before settlement. She has said nothing about selling and you dudes are carrying on like she doesnt know her nose from her face.

She never said anyhting about speculation

Be happy she is on a winner.

Thanks aussie, appreciate you coming to my aid, but I'm not bothered by any of the responding posts mostly because I don't believe any of them were intended as critical, and if they were, well pffft ...doesn't matter I'm okay with my decision...I made a profit, and will continue to do so because the property in question is a rare find. I would have bought it irrespective of which market we were in at present, because it's not so much that it was a bargain that I won out, but the fact that I won't get the same property for the same price EVER again. I was just fortunate to be in the right place at the right time. I have ABSOLUTELY no intention of selling it, not now, not ever. Hence, there's no "what if" to consider, because (pure and simple) it ain't gonna happen!!

 

[The Fence]

Give monopoly a break guys. She bought a house and it looks like it has appreciated nicely even before settlement. She has said nothing about selling and you dudes are carrying on like she doesnt know her nose from her face.

She never said anyhting about speculation

Be happy she is on a winner.

Merely pointing out the economics/consequences of selling immediately...not an attack for gods sake...!

You did take it the right way Monopoly...and hey...good work!

 

[RocketMan]

Good for you Monopoly. But don't be so smug. The same 'care factor ZERO' is what gets people into messes in the first place.

 

[Monopoly]

Good for you Monopoly. But don't be so smug. The same 'care factor ZERO' is what gets people into messes in the first place.

Sorry RocketMan, the "care factor ZERO" was not a personal attack on anyone here, more a "I don't care if people don't agree with my purchase" as long as I'm okay with it, that's all that matters.

I will remove that line; you're right, it was unnecessary!! My bad...

 

[Monopoly]

Merely pointing out the economics/consequences of selling immediately...not an attack for gods sake...!

You did take it the right way Monopoly...and hey...good work!

Thanks Thorpey, and it's cool, I have no intention of EVER selling it, but if I did, it certainly wouldn't be under 12 months with a full rate CGT bill (as I indicated in my earlier post).

 

[Monopoly]

The point I'm trying desperately to make here is simple....

Even in this CRAZY (insane, heated, etc) market, "bargains" and/or great opportunities can be found. You just have to LOOK.

Not trying to be smug or cocky. If I can do it; I know each and every one of you can too!!

 

[The Fence]

Spot on Mon.....and nicely back on topic...!

 

[topcropper]

How come your not at work Thorpey..??

Nice rain eh.!!!


See ya's.

 

[aussierogue]

Rocketman commenting on smugness - great stuff. Dont be a bully!

Mono you have notbing to apologize about.

 

[The Fence]

How come your not at work Thorpey..??

Nice rain eh.!!!


See ya's.

Same as you TC....should be a nice soak to get back that topsoil moisture...she dried out quick hey...
Get the sorghum all off...? Nice work getting it off early as this...

Now I've gone off topic again TC...apologies folks...

 

[Monopoly]

Rocketman commenting on smugness - great stuff. Dont be a bully!

Mono you have notbing to apologize about.

Thanks aussie, but I can see how my "care factor ZERO" could be perceived as smugness, it wasn't necessary to add that line, and I was happy to remove it.

 

[Deltaberry]

Even in this CRAZY (insane, heated, etc) market, "bargains" and/or great opportunities can be found. You just have to LOOK.

Oh I said that earlier too, just as there'll be rip-offs even in a quiet market.

 

[Monopoly]

Oh I said that earlier too, just as there'll be rip-offs even in a quiet market.

Yes of course, there will always be the good, the bad and the (downright) ugly (deals)!! However DD will hopefully equip you with the skill and experience to be able to identify the differences between them!!

 

[Graemsay]

The comment about the Melbourne market being a proxy for China is an interesting one. There's been a bit of debate as to whether that country is in a bubble, but there was a piece on the FT Alphaville blog recently suggesting that it might roll on for a few more years:

http://ftalphaville.ft.com/blog/2010/03/25/186756/is-china-blowing-bubbles/

Bubbles are generally not fun when they burst, but the downside might be mitigated if it's being imported.

 

[Africandaisy]

Or ask Daddy to buy it for you...

Hey, I know this isnt RSVP but if there are any sugar daddys on this site who want to buy me a house, please send me a smilie

 

[aussierogue]

Nice link Graemsay.

I reckon 1-2 years is a good bubble time (for me anyway).

You dont wanna miss the upside of a bubble thats for sure (thats how you get rich quick) - and you dont wanna be caught long when it pops (thats how you gte poor quick).

We all need to be risk managers these days. Grow - sell down some, grow, sell down some.

 

[The Fence]

Grow - sell down some, grow, sell down some.

For me that would be:
One step forward - two steps back, one step forward, two steps back.

That's just me though, you go for your life.....

 

[MelbGal]

I spent a year looking for a PPOR in Melbourne and found that whatever the agent quotes were always way off the mark.

This wasted a lot of my time and I missed out on some good buys as I was 'unprepared'. Finally I realised that adding at least 30% and then more to the price they quoted would get me within the competition.

 

[aussierogue]

Thorpey - sorry to hear you go backwards. I never have.

A common way to get ahead is to profit take. Nothing new there.

 

[The Fence]

That's ok aussie, appreciate your concern..but I don't plan on taking profits just yet...prefer the income to grow and grow and buy more....another step forward each time.....

It's just a different way to skin the same cat...good luck to you, truly.