Real Estate Mortgagee Sales

[lisa jones]

Rising inflation PLUS rising interest rates PLUS supply chain issues esp as regards raw materials PLUS high cost of fuel = recipe for disaster.

https://www.domain.com.au/61-linthorn-a ... gJ4GPD_BwE

Not sure why anyone would want to spend around 2 million for the house above esp in its current (unfinished) state.

[lisa jones]

From the link above.

Property Description

Unfinished business - partially constructed new home | Under instructions from the mortgagee

This partially constructed new residence presents an outstanding opportunity for the renovator, builder or investor to capitalise on. The walls and framing are partially completed for the basement, main and upper floor. Concrete slabs separate the basement and first level & timber framing to the first level. This property is perfectly nestled in a tree lined street amongst other quality homes - only a short walk to a choice of transport, shops, schools and parks.

Total land area : 385.7m² <---- that's pathetic and very small.

[lisa jones]

Ok so the previous case was a residential property.

Let's now take a quick look to see the commercial property market.

https://www.commercialrealestate.com.au ... =c-all-all

Another mortgagee in possession sale.

[lisa jones]

From the above link :

12 Apartments/3 Hazlewood Place Epping NSW 2121

907 m²
For Sale, EXPRESSIONS OF INTEREST
Mortgagee Sale - 12 Apartments In-One-Line
Mortgagee in Possession
12 High-finish Apartments in Epping
Ideal Unit Mix

On behalf of Philip Campbell-Wilson and Said Jahani as Joint and Several Agents for Mortgagee in Possession, Ray White Commercial Western Sydney is pleased to present twelve (12) apartments in-one-line at 3 Hazlewood Place, Epping for sale via Expressions of Interest.

Meantime :

Inflation is still rising
Interest rates are expected to increase again next week.

[lisa jones]

https://m.realestate.com.au/property-re ... -203388115

A wonderful development opportunity! But rising inflation has hit the construction industry hard and interest rates on construction loans have increased even more than residential loan rates. The current owner of this block couldn't follow through with their development plan.

From the above link :

Mortgagee in Possession

ADDRESS AVAILABLE ON REQUEST, CASULA

Attention all buyers, look no further! Nestled within the desirable suburb of Casula, this excellent opportunity presents itself for anyone looking to acquire a great property with amenities close by. Set on approximately 1,024m2 total with a 15m frontage, there is so much potential with opportunity to knock down existing dilapidated dwelling.

[Bogan]

My opinion as to why the real estate market in Australia is overheated, is because wealthy Chinese people are looking for a safe haven for the money. Being a rich person in china has historically been a health hazard. If you have a lot of money in China, it has always been the case that powerful government functionaries and generals will find a way to declare you an enemy of the state, and they will take all of your money for themselves.

From this perspective, it can be seen that the Chinese Communist Revolution which eliminated the "landlord class", was in fact the biggest and bloodiest armed robbery in history. But even today, a lot of billionaires in China just disappear, along with heir wealth. If they disappear, they may be lucky like Jack Ma, and be kept alive and dragged before cameras from time to time, to assure overseas investors that private property in China is safe from government confiscation.

The problem is so bad, with usually a dozen billionaires disappearing every year, that rich people in China look for and hire body doubles, who, it is hoped if they are arrested, will be paid by the rich person to do any prison time the authorities impose while they steal the rich person's wealth in China. So rich Chinese have learned the lesson the hard way over a very long period of time. If you have a lot of money, get as much of it out of China at all costs. Invest in in something stable, like foreign real estate in politically and socially stable counties, like Australia and New Zealand, because real estate is real. Government controls on rich foreign investors snapping up all of the real estate are easily side stepped through front companies and family connections.

[J o h n S m i t h]

I subscribe and get monthly reports on mortgagee sales in Qld and I've been doing so for about 8 years. In all that time, despite much of it being during a period of record low interest rates and low inflation, there has never been a shortage of mortgagee sales. Unfortunately far to many people borrowed the most they can afford at the time, and didn't allow room for when rates went up or income went down.

I think mortgagee sales are going to skyrocket over the next year however to date the numbers still look pretty typical for this area

[lisa jones]

My opinion as to why the real estate market in Australia is overheated, is because wealthy Chinese people are looking for a safe haven for the money. Being a rich person in china has historically been a health hazard. If you have a lot of money in China, it has always been the case that powerful government functionaries and generals will find a way to declare you an enemy of the state, and they will take all of your money for themselves.

From this perspective, it can be seen that the Chinese Communist Revolution which eliminated the "landlord class", was in fact the biggest and bloodiest armed robbery in history. But even today, a lot of billionaires in China just disappear, along with heir wealth. If they disappear, they may be lucky like Jack Ma, and be kept alive and dragged before cameras from time to time, to assure overseas investors that private property in China is safe from government confiscation.

The problem is so bad, with usually a dozen billionaires disappearing every year, that rich people in China look for and hire body doubles, who, it is hoped if they are arrested, will be paid by the rich person to do any prison time the authorities impose while they steal the rich person's wealth in China. So rich Chinese have learned the lesson the hard way over a very long period of time. If you have a lot of money, get as much of it out of China at all costs. Invest in in something stable, like foreign real estate in politically and socially stable counties, like Australia and New Zealand, because real estate is real. Government controls on rich foreign investors snapping up all of the real estate are easily side stepped through front companies and family connections.

Bogie that's only part of the picture. An important part though. And definitely worth addressing. The Chinese Communist Party has backed millions of residential and commercial property loans taken out by its Chinese citizens across the globe.

The particular problem we have in Australia is this : Australia is notoriously known by the Chinese as the go to place to launder money. And this is why the Chinese CONTINUE to snap up prime real estate. Even to this day. No existing legal attempts to stop them have succeeded. They work around legislation. Some are so amazed at the ease in getting around our so called checks and balances that they even gloat about it. And you're absolutely right Bogie! The Chinese DO use front companies and family connections to purchase on their behalf. And that gives me the shits because it's a way of insulting us Aussies. And they're getting away with it.

THAT is why many Australians have decided to make property acquisition their mission in life. It's a type or form of protest against foreign investment/ownership. Make NO MISTAKE...once prime real estate in Australia is sold off it's never coming back. It's a 1 way deal. The sooner we realise that the better.

Meantime stupid ignorant idiots (1 such idiot is our very own resident Frodo the Fucking Fraud aka Snorty Smith; the other POS is Drunk the 80 yr old grub who bought bush in Tasmania near Antarctica ffs) have flocked to cheap arse areas out of Sydney and Melbourne and Brisbane etc buying cheap regional crap and thinking they've arrived. Nope! They're the most at risk of losing their homes due to negative equity after rising interest rates PLUS rising inflation. The other 2 areas which will guarantee their financial failure is the cost of water AND cost of fuel. These last 2 factors have not been overly mentioned but they will be. Eventually.

Mortgagee sales were pretty quiet for the period mid 2020 to mid 2022. Auction clearance rates were in the 90% range.

Enter July 2022. The rules have changed significantly so some players are being told to pack up and go home.

[J o h n S m i t h]

some people should just stop pretending they have a clue ... especially those jacked up on coke

[lisa jones]

My opinion as to why the real estate market in Australia is overheated, is because wealthy Chinese people are looking for a safe haven for the money. Being a rich person in china has historically been a health hazard. If you have a lot of money in China, it has always been the case that powerful government functionaries and generals will find a way to declare you an enemy of the state, and they will take all of your money for themselves.

From this perspective, it can be seen that the Chinese Communist Revolution which eliminated the "landlord class", was in fact the biggest and bloodiest armed robbery in history. But even today, a lot of billionaires in China just disappear, along with heir wealth. If they disappear, they may be lucky like Jack Ma, and be kept alive and dragged before cameras from time to time, to assure overseas investors that private property in China is safe from government confiscation.

The problem is so bad, with usually a dozen billionaires disappearing every year, that rich people in China look for and hire body doubles, who, it is hoped if they are arrested, will be paid by the rich person to do any prison time the authorities impose while they steal the rich person's wealth in China. So rich Chinese have learned the lesson the hard way over a very long period of time. If you have a lot of money, get as much of it out of China at all costs. Invest in in something stable, like foreign real estate in politically and socially stable counties, like Australia and New Zealand, because real estate is real. Government controls on rich foreign investors snapping up all of the real estate are easily side stepped through front companies and family connections.

Bogie that's only part of the picture. An important part though. And definitely worth addressing. The Chinese Communist Party has backed millions of residential and commercial property loans taken out by its Chinese citizens across the globe.

The particular problem we have in Australia is this : Australia is notoriously known by the Chinese as the go to place to launder money. And this is why the Chinese CONTINUE to snap up prime real estate. Even to this day. No existing legal attempts to stop them have succeeded. They work around legislation. Some are so amazed at the ease in getting around our so called checks and balances that they even gloat about it. And you're absolutely right Bogie! The Chinese DO use front companies and family connections to purchase on their behalf. And that gives me the shits because it's a way of insulting us Aussies. And they're getting away with it.

THAT is why many Australians have decided to make property acquisition their mission in life. It's a type or form of protest against foreign investment/ownership. Make NO MISTAKE...once prime real estate in Australia is sold off it's never coming back. It's a 1 way deal. The sooner we realise that the better.

Meantime stupid ignorant idiots (1 such idiot is our very own resident Frodo the Fucking Fraud aka Snorty Smith; the other POS is Drunk the 80 yr old grub who bought bush in Tasmania near Antarctica ffs) have flocked to cheap arse areas out of Sydney and Melbourne and Brisbane etc buying cheap regional crap and thinking they've arrived. Nope! They're the most at risk of losing their homes due to negative equity after rising interest rates PLUS rising inflation. The other 2 areas which will guarantee their financial failure is the cost of water AND cost of fuel. These last 2 factors have not been overly mentioned but they will be. Eventually.

Mortgagee sales were pretty quiet for the period mid 2020 to mid 2022. Auction clearance rates were in the 90% range.

Enter July 2022. The rules have changed significantly so some players are being told to pack up and go home.

Oh dear even more mortgagee sales. This time we're talking in regional areas where real estate costs bugger all and properties never increase by much.

Good luck to the fool who thinks he's bagging a bargain with this property.

Bogie tell me what you think about this one?

https://m.realestate.com.au/property-ho ... -139825095