[zaph]

Quote

REPOSSESSED homes are flooding the market with properties being offered at heavy discounts - some selling for just a quarter of their previous sale prices.

Two separate studies have shown a dramatic increase in properties being put on the market by receivers in recent months. Both property investors and developers are being squeezed in the uncertain economic climate.

Almost a third of all major investment properties advertised in October and November last year came from forced sales, according to research from property valuers LandMark White.

Another study has shown receiver-initiated listings have risen by 50 per cent in some parts of Australia in the past year with homeowners forced out by crippling mortgage repayments, personal debt and the rising cost of living.



Read more: http://www.news.com....6#ixzz1kXJoGydA

this includes both resi and commercial, so beware.

[savagegoose]

where are these auctions? are only RE agents invited or something?

[Sean]

Quote

More than half were in Queensland - predominantly residential properties in regional areas.

That's funny -- those Qld regional areas were Terry Ryder's next great 'hotspots' for capital appreciation -- the predictions were made just before floods wiped out 4 of his favourites -- several of which were just wiped out a second time this year, in a strange phenomenon known as 'rainy seasons'.

Wonder what Somersoft are saying about their favourite charlatan poster boy now...

[zaph]

Sean, on 28 January 2012 - 02:23 AM, said:

That's funny -- those Qld regional areas were Terry Ryder's next great 'hotspots' for capital appreciation -- the predictions were made just before floods wiped out 4 of his favourites -- several of which were just wiped out a second time this year, in a strange phenomenon known as 'rainy seasons'.

Wonder what Somersoft are saying about their favourite charlatan poster boy now...

his latest hot spots are in todays CM http://www.courierma...6-1226255790083

i think he picks Redcliffe every year, and every year it does nothing.

[Solomon]

Quote

REPOSSESSED homes are flooding the market with properties being offered at heavy discounts - some selling for just a quarter of their previous sale prices.

Reverse psychology.
When we read that, we go "Yes! Cheap homes."
Instead we should be asking "Why are so many homes being repossessed and placed on the market?"
Further, we should be also saying, "How come they can sell so cheaply now!! Maybe that's what they were worth in the first place."

There are no ethics in attempting to make a sale.
Used car salesmen don't have a reputation for nothing.
RE Agents should be up there with them.

[ummester]

Solomon, on 28 January 2012 - 10:59 AM, said:

Used car salesmen don't have a reputation for nothing.
RE Agents should be up there with them.

I already thought they were. Actually, used car salesmen are probably more honest and definately less sure of their product's worth - upside is REAs are becoming less sure real quick ATM:)