Damn, I won t have enough for a deposit till december
How long do booms last? lol
How long do booms last? lol
West Sydney
- Thread starter MTR
- Start date
Boom one day, doom and gloom the next
http://www.smh.com.au/business/home-prices-slip-again-survey-20130603-2nkun.html
http://www.smh.com.au/business/home-prices-slip-again-survey-20130603-2nkun.html
Always like Melb, looks like I will be purchasing a development site late this year/early next year, hopefully we can catch up.
Whoever provides their data must be on the turps.
Yes although some sold more than 3 weeks ago. They just leave them on there so prospective sellers see how awesome they are
I disagree. There has always been a reasonable difference in the areas, but I feel that the gap is sure to widen a bit over time. It's not like you are comparing apples with apples. The difference in the areas is not just stigma alone.
Agree, as I had the same experience moving from Inner west to Baulkham Hills to Parramatta/Toongabbie areas.
I rang one agent trying to make a prior auction offer on a property requiring cosmetic renovation, or perhaps land-banking it as it has 929sqm of land, and I was told, "No way, in this market it wouldn't be fair to owners, it's going to auction, they offloading an asset, many contracts given out, and I need to go....". The agent wasn't interested even in my details to send through the contract and told me he had to go, even before I asked all my questions...
Well, we live and learn, perhaps now is the time to invest into an asset class that's going down in value?
Use a valuer from the financier' panel of valuers to save costs and have assurance!
Ms Ali,
When I need to revalue my properties I like to call the bank manager and ask them who will they be using from the panel of valuers (it may be few phone calls around but I have done this in the past)?
Then I meet and talk to the valuer and present him/her with some recent sales data (however I do have access to RP Data or others). Basically, I will try to inflate the price if that's what I am looking for.
What I am trying to say is that sometimes we need to be a little more proactive and do that extra work to get the result we want. It may not always work but it has worked for me.
I also try to save the money in similar way when buying. I once used my old accountant's bank manager, through which I would be borrowing, and told him I wish to use their valuer for my valuation. I was told the valuation would be accepted as he was on their panel. So I save costs as I had assurance of what is worth worth (so I wasn't paying more) and I knew the right finance would be approved (since the bank valuer did the valuation).
I hope this little insight helps you.....
Ms Ali,
When I need to revalue my properties I like to call the bank manager and ask them who will they be using from the panel of valuers (it may be few phone calls around but I have done this in the past)?
Then I meet and talk to the valuer and present him/her with some recent sales data (however I do have access to RP Data or others). Basically, I will try to inflate the price if that's what I am looking for.
What I am trying to say is that sometimes we need to be a little more proactive and do that extra work to get the result we want. It may not always work but it has worked for me.
I also try to save the money in similar way when buying. I once used my old accountant's bank manager, through which I would be borrowing, and told him I wish to use their valuer for my valuation. I was told the valuation would be accepted as he was on their panel. So I save costs as I had assurance of what is worth worth (so I wasn't paying more) and I knew the right finance would be approved (since the bank valuer did the valuation).
I hope this little insight helps you.....
Ms Ali,
When I need to revalue my properties I like to call the bank manager and ask them who will they be using from the panel of valuers (it may be few phone calls around but I have done this in the past)?
Then I meet and talk to the valuer and present him/her with some recent sales data (however I do have access to RP Data or others). Basically, I will try to inflate the price if that's what I am looking for.
What I am trying to say is that sometimes we need to be a little more proactive and do that extra work to get the result we want. It may not always work but it has worked for me.
I also try to save the money in similar way when buying. I once used my old accountant's bank manager, through which I would be borrowing, and told him I wish to use their valuer for my valuation. I was told the valuation would be accepted as he was on their panel. So I save costs as I had assurance of what is worth worth (so I wasn't paying more) and I knew the right finance would be approved (since the bank valuer did the valuation).
I hope this little insight helps you.....
Kudos.. Great valuable stuff MIW..
Mind the gap!
the gap has never been this big. Its more like a chasm. Also, the stigma is slowly diminishing as more DOH is sold off.
I can just hear the FHB who can't afford 400K, but then notices a property 3km away for 260K...."ooh la la, that's cheap"
Don't forget the property investor who also can't/doesn't want to spend 400K and then calculates the great yield with a 260K splurge...."ooh la la, this is my lucky day"
My bet is the gap will diminish not widen.
My opinion only.
Setbacks from Garage
Hi
I just purchased a property in Hebersham and want to put a 45sqm-50sqm two bedder GF on it.
2 questions:
- what is the setback from the existing garage to comply with the AHSEPP
- there is a rear sewer right along the back fence... is 3m setback all that is required or do I need to go further so i'm out of the zone of influence?
Hope you can help.. thanks!
D
Hi
I just purchased a property in Hebersham and want to put a 45sqm-50sqm two bedder GF on it.
2 questions:
- what is the setback from the existing garage to comply with the AHSEPP
- there is a rear sewer right along the back fence... is 3m setback all that is required or do I need to go further so i'm out of the zone of influence?
Hope you can help.. thanks!
D
Serj from http://www.grannyflatapprovals.com.au/ is the guy to ask.
Goes by BRAZEN on this forum. There is a lot of useful information on his site.
3m setback off the sewer? From memory it is about 5m from memory, you can get closer but then you have to protect the pipe if it belongs to the waterboard. There's different degrees of protection as you get closer.
Mind the gap!
the gap has never been this big. Its more like a chasm. Also, the stigma is slowly diminishing as more DOH is sold off.
I can just hear the FHB who can't afford 400K, but then notices a property 3km away for 260K...."ooh la la, that's cheap"
Don't forget the property investor who also can't/doesn't want to spend 400K and then calculates the great yield with a 260K splurge...."ooh la la, this is my lucky day"
My bet is the gap will diminish not widen.
My opinion only.
I was talking to an agent today. He likes to have a bit of a natter, this one. He's lived in the area for a lot longer than I have and he was telling me about his parents that sold their property in Letho for $58k (it was a while ago) and bought in St Clair for $110K. They later sold the St Clair property for $600k.
Anyway, the gap back then on these two properties was $52k, or almost double the price. We bought our PPOR in St Clair for $325K when you could if you looked hard find a Letho property for maybe $200-210K. We upgraded to a much larger home with an extra bedroom, but it needed a lot of work. If we had looked for a small 3 bedder in good condition it would have been around $300k, close to a difference of $100k or an increase of 50%.
So, I would expect the percentage of the increase to lessen over time, but the $$ amount to increase. If that makes sense at all.
I agree that the area has improved, but it still has some problems. Added to that is the stigma, which will take a long time to go.
The main differences, as I see them are;
Quality of homes - St Clair is all brick/tile homes built in the mid 80's. Most of them look tidy. Letho, etc have some brick/tile homes but mostly they are fibro. There are a lot more badly unkept homes.
Size of homes - There are a lot of 4 bedders & some 5 bedders. Many have ensuites, family rooms, garages etc. The average ex-houso home over in Letho is very small 3 bed, one bath, no garage.
"Feel" of the area - When you drive around the streets of St Clair, you see average to nice homes with (mostly) kept lawns. When you go to the shops, you see mostly normal people going about their business, there is a skate park across from the shops & heaps of kids hang out there, but they don't cause trouble. All is clean and well maintained.
When you drive around the streets of Letho etc, you see average to below average homes. Some are very well kept, but some are very 'daggy'. It is not unusual to see homes with the windows boarded up, pending auction by the Housing Department. When you go to the shops, the layout isn't great, with no shops open to the street or carpark, so at night, the whole place is secure. They have the 'feel' that they need to be like this to avoid being broken into. From the rear of the carpark, there is another brick building, next to Red Rooster, that always looks dreadful. It is usually filthy dirty and covered in graffiti. When you go inside to do your shopping, it is not uncommon to see people walking around without shoes, teens loitering, parents yelling obscenities at their toddler children.
Then you have the proximity to the M4 and Erskine Park! This is what I love about St Clair, more than anything else! It is SO convenient. Just a small drive down the street takes me to Mamre Rd. Turn left & it takes me to Liverpool, turn right is the M4. I can be in Liverpool or Parramatta within 30 minutes, even in traffic.
When I was talking to my friendly Agent, he did mention a small trend that he's noticed as well. He said he had a couple from Coogee recently buy a house in St Clair. He asked why they relocated & he said that his work has recently relocated to Erskine Park and he couldn't believe how cheap it was to buy a house out this way. He could only afford to rent in Coogee. He said this wasn't an isolated case, just one that he recalled because they paid way too much for the home.
For me, for an extra $100k, I got another bedroom, a pool, an ensuite, and a family room, all in a brick home in a nicer area. Sure, we've done work to the place, and there is still a lot more work to be done, but I would have paid more than $100k to have what we now have.
I think the agent was talking about the local podiatrist
A lot of people living in the Parramatta area are now talking about and moving to St Clair. Won't consider any other suburb out there as none of them stack up in comparison in terms of house quality and peace and quiet.
Was reading API yesterday and a young couple in there bought a brand new house in Ropes Crossing on the advice of a mentoring group, particularly due to the potential capital growth in the suburb. Wonder if the newbies will come out of the woodwork now asking lots of questions on the back of this article.
A lot of people living in the Parramatta area are now talking about and moving to St Clair. Won't consider any other suburb out there as none of them stack up in comparison in terms of house quality and peace and quiet.
Was reading API yesterday and a young couple in there bought a brand new house in Ropes Crossing on the advice of a mentoring group, particularly due to the potential capital growth in the suburb. Wonder if the newbies will come out of the woodwork now asking lots of questions on the back of this article.
