Having ‘discussions’ with RE Agent

[zenyattamondatta]

No, its not. Do you know the situation in all the markets outside the major capitals?

Or at all price points within even the same market?

No, he doesn't.

 

[ozfflyer]

No, its not. Do you know the situation in all the markets outside the major capitals?

it's worse the further you go from capitals. It's called a recession. If you're under 45, you probably have never seen a real recession. It's going to get ugly, very very ugly. Mortgagee in possession auctions everywhere with NO reserve whatsoever. Plenty of people already have -ve equity.


It sounds like I was selling real estate in the 80s before you were even born.

 

[Pushka]

A lengthy discussion was had today re the last week. I’ve mentioned some connections we have to large REAgents in the city so they know we aren’t too gullible. And discussions were quite frank about what we thought of the Agency. And frank discussions have been held within the Agency with their senior practice people.

We had a building inspection today which given the response from the examiners looks very positive. Interestingly they didn’t check things we thought they might. I remember our inspection for this property took hours, he checked everything and so much so we asked him to finish. This one lasted for 30 minutes at most. Oh well, there’s hope.

 

[cove]

Pushka you just need a couple of determined buyer/bidders so with a bit of good luck and a good auctioneer the property will sell.
We bought our current home and our beach apartment at auctions and have no regrets. I like auctions.
I hope we hear the sold word over this weekend from you.

 

[Happy Dude]

it's worse the further you go from capitals. It's called a recession. If you're under 45, you probably have never seen a real recession. It's going to get ugly, very very ugly. Mortgagee in possession auctions everywhere with NO reserve whatsoever. Plenty of people already have -ve equity.


It sounds like I was selling real estate in the 80s before you were even born.

Is that you, Steve Keen?

 

[amaroo]

it's worse the further you go from capitals. It's called a recession. If you're under 45, you probably have never seen a real recession. It's going to get ugly, very very ugly. Mortgagee in possession auctions everywhere with NO reserve whatsoever. Plenty of people already have -ve equity.


It sounds like I was selling real estate in the 80s before you were even born.

I live in regional Oz, property prices are soaring in my area. Record prices!

 

[RooFlyer]

it's worse the further you go from capitals. It's called a recession. If you're under 45, you probably have never seen a real recession.

I'm nearly 60 and went through the 'recession we had to have'. Here in Hobart, and elsewhere in Tas, we've had record prices for about 3 years and still going strong.

I'm afraid you are dead wrong in your assertions, in this case.

I live in regional Oz, property prices are soaring in my area. Record prices

Yep.

Sorry to intrude, pushka.

 

[p--and--t]

Anybody that has even moderate investments in properties across multiple states knows there is no such thing as "a single property market"

 

[cove]

Yes that is correct about different markets as well as different suburbs in that city. Interest rates are still dropping so mortgage interest rates are going down for many.

 

[Pushka]

it's completely a buyer market everywhere in Australia & auctions only work when a number of real bidders. 1 real buyer does not make an auction.

Saw a really smart buyer once, who hired a private eye to find out about the vendors financial situation.

Apparently cost buyer $10k, but found out the vendors business was in trouble. As a result buyer lowered his offers & eventually after 3 weeks of back & forth, think he saved about $1/2m, so $10k was nothing.

I can imagine that tactic works when the seller is in dire straits or desperate to sell. We would very much like to sell but we have worked out holding costs of not selling for a price we think is reasonable (and which is under the RE Agents initial valuations - we didn’t believe their hype - all of em) and can wait for a while. It will be annoying but we aren’t giving it away.

I’ve had chats from girlfriends who have been involved in RE industry for ever and they have told me not to cave in to their tactics. Our area has been a growth area as it is central, great schools, shopping and transport. Anyway, the day is here, it is cool and stream showers. 3 and a smidge hours until the final open before the auction.

 

[amaroo]

Hope it all goes well!

 

[Buzzard]

Best wishes for today @Pushka

 

[love_the_life]

Yep, hope it goes well - or even a couple of people who want to negotiate.

 

[Pushka]

I’ll just leave this here

 

[cove]

Well that is a lovely 4 letter word.
Congratulations.

 

[tgh]

Congratulations

 

[ozfflyer]

Yes that is correct about different markets as well as different suburbs in that city. Interest rates are still dropping so mortgage interest rates are going down for many.

you guys are living in LA, LA land or are real estate agents or in the media

 

[amaroo]

you guys are living in LA, LA land or are real estate agents or in the media

LOL the media is doing its best to drag the housing market into the gutter. They are failing...

Well done Pushka - love a sold sticker!

 

[mrsterryn]

My son and Dil have been looking for about four/five weeks for a new home
Prices are definitely rising in the area in Sydney they are looking at.
Not on par with 2017 but no longer declining

 

[ozfflyer]

we've sold most of our rental properties & waiting til it bottoms out to buy, which might take a year or 2 or 3.