State of the market

From: Tom Moschitz

Anyone care to comment on the state of the market, particularly Sydney?

I'm finding a of lot fairly average properties coming to market and getting snapped up pretty quickly. At the same time the To Let section of my local rag is growing by about a page a week.

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Reply: 1
From: Paul Zagoridis

Totally agree with both of you. Only gamblers and newbies are speculating right now.

Wentworth Courier to-lets are full of rent incentives. An agent I've done business with for 10 years expects trouble once to-lets hit 24 pages.

Wrecked terraces in the east are going for $700K+.

Seen it before, even made hi-risk money on it. The only way I see to profit before the inevitable correction is to buy and on-sell fast. Very expensive if you're left standing when the music stops (beaten and bruised experience too).

Paul Zag
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Reply: 1.1
From: H T

Yep we're seeing the same in parts of melbourne. If you got in to the elwood market 2 years ago and purchased something in a good spot with some big land content, you may have seen 60-70% gain....

Now those are big numbers

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Reply: 1.1.1
From: Glenn Mott

Seems as though the wise bulls standing at the top of the mountain are giving some good advice here.

The market cannot be counted on to forgive mistakes made at the moment anytime soon.

I would suggest that people who bought rubbish at the peaks in the last boom, 1989, would have only just recovered into a profit making position.

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From: H T

yeah and those that brought good quality inner city stock would have tripled their money...
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From: The Wife

I feel like we are on a game show, those of us that have been around for a while have been shouting from the bleachers to

"BUY!! BUY!! BUY!!"

for the last couple of years,

now from the bleachers you are hearing,


How confused must people be?

and I'm wondering, did people buy anything last year? and if not, why?

and dont panic, just because some of us are calling ourselves "out of the game " for the time being, doesnt mean there still isnt a bargain or two around, I'm sure there are still some out there.

And anyway, if you buy something and hold onto it for long enough, it will eventually show you a good return, although most people who end up at this site are here because they want to maximise their dollars.

And anyway, I'm wondering what all those people who are asking "how did you get started?" are doing? how come they want to now how we started, and when we were shouting to buy, they didnt buy?, mind you, basing your buying technique on what someone in an internet forum ( especially strange named people) tells you probably isnt a good thing, maybe better to follow the magazines and articles out and about.

Also follow what real estate agents and planners and stuff tell a minute, the people writing the magazines and agents and planners...thats their job...their still working...I'm retired because of my good investments...hey...maybe you SHOULD listen to the lady with a funny name!! :eek:)

YAY!! *does a happy dance*

~Ego, is not a dirty word~
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From: Glenn S

The trouble is that some of us were not here last year to here the shouts of "buy ,Buy Buy", and be motivated by them.

And now we're motivated but told not to buy..

I think its time to renovate...

Oh Bother
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From: See Change

My thoughts exactly Glenn

I have perfect ( reverse ) timing

See change
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