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  #1  
Old 06-02-11, 01:05 AM
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italiandragon italiandragon is offline
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Default The Australian Bub...ehm real estate market: Insanity

http://www.news.com.au/money/propert...-1226000821408
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  #2  
Old 06-02-11, 11:28 AM
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it's called the Property Market...willing seller...willing buyer

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  #3  
Old 06-02-11, 01:57 PM
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Paying for the land (they're not making any more of it).
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  #4  
Old 06-02-11, 04:52 PM
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I think it will cost him more then $120,000+ to fix that place up unless he is a builder...

But yeah big big money in Sydney property market, I think the market is a little too over priced but it seems like it is never going to stop going up especially any where in the inner city, inner west, Bondi, eastern suburbs it is all crazy...
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Old 11-02-11, 01:08 AM
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Quote:
Originally Posted by coreyg View Post
it's called the Property Market...willing seller...willing buyer
It's called Greater Fool Theory. Question is how deep is the line of fools.
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  #6  
Old 11-02-11, 06:59 AM
coreyg coreyg is offline
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Market Value is defined as:

The estimated amount for which a property should exchange on the date of valuation between a willing buyer and a willing seller in an arm’s-length
transaction after proper marketing wherein the parties had each acted knowledgeably, prudently, and without compulsion.

Source: Australian Property Institute

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  #7  
Old 11-02-11, 10:14 AM
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snoopy snoopy is offline
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Quote:
Originally Posted by italiandragon View Post
Land value, surely you can see that?

The house doesn't add anything so doesn't matter much what condition it is in. Either needs a bulldozer or a major renovation.
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  #8  
Old 11-02-11, 11:35 AM
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Quote:
Originally Posted by James View Post
I think it will cost him more then $120,000+ to fix that place up unless he is a builder...
Would imagine so. Probably a half million job to really bring it up to 2011 expectations in terms of size/fitout/garden etc. The better single fronteds looks to be around $1.3-1.5million looking at domain so that might be on the low side.

$120,000 to fix it up in a very basic way maybe that would make it liveable, eg put in a floor, cheap kitchen bathroon, repaint, fix roof.
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  #9  
Old 11-02-11, 11:43 AM
coreyg coreyg is offline
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Quote:
Originally Posted by cncventure View Post
It's called Greater Fool Theory. Question is how deep is the line of fools.
Rickrolling

http://en.wikipedia.org/wiki/Rickroll

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Corey
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  #10  
Old 11-02-11, 11:50 AM
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Quote:
Originally Posted by cncventure View Post
It's called Greater Fool Theory. Question is how deep is the line of fools.
It is 5km's from the CBD, gotta be realistic.
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