Oh dear... socialists think that can manipulate the market

[Outlaw Yogi]

There was a marketing concept some dude was spruking a couple of years ago. I think it was called a Dutch Auction. That is, the Vendor put their property on the market at $10.00. They announced they would drop the price $1.00 each week, until sold.

Forced buyers to be alert, wot?

I understood 'dutch auction' to work the other way.
For example my father was interested in an old cottage on the Woronora river, think he might have agreed to the asking price.
Then he's told another supposed interested party has offered $5,000 more, and he said "I'm not getting into a dutch auction".
Then bought another place 5 or 6 houses up/along the river.

[Leftwinger]

Dutch auction - hmm, haven't heard of that one.

[Aussie]

There was a marketing concept some dude was spruking a couple of years ago. I think it was called a Dutch Auction. That is, the Vendor put their property on the market at $10.00. They announced they would drop the price $1.00 each week, until sold.

Forced buyers to be alert, wot?

I understood 'dutch auction' to work the other way.
For example my father was interested in an old cottage on the Woronora river, think he might have agreed to the asking price.
Then he's told another supposed interested party has offered $5,000 more, and he said "I'm not getting into a dutch auction".
Then bought another place 5 or 6 houses up/along the river.

Yes, Yogi.....I may well have the Name wrong. But the concept was real.

[lisa jones]

I'd be making my existing networks WORK for me. Nothing beats experience esp local experience .. so I'd definitely be clicking into that information source.

Get to KNOW the personality (for want of a better term) of the area/street in question yourself. Don't just rely on local experience .. get out there and see it for yourself. Test the opinions you're given .. coz you may very well be given different points of view. Also people like/dislike aspects of a particular area for different lifestyle reasons.

Watch the properties which go on sale in the area .. get the weekly auction reports .. go and attend a few yourself. See what comes up and what sells and for how much.

This type of basic research is the least you can do given one of those properties may very well be responsible for putting your head in a 30 yr mortgage noose.

Thanks again for your advice Lisa. Keeping a close eye on the place and in close contact with poeple in the know, plus the other things you have suggested will now be a personal project of mine.

Ok .. let's get back back to property. Perhaps we ought to completely ignore and post over anyone who enters to needlessly hijack and troll this othewise awesome topic.

[Aussie]

Please take the Kindergarten stuff to some other place.

[lisa jones]

Please take the Kindergarten stuff to some other place.

Well .. Deepy's place is full atm.

I'm quite happy to start another topic Aussie (given this is IQ's topic).

I just wish to discuss the Oz property market. It seems I am asking too much for some reason.

I've now started another topic on the same subject matter just in case Romper Room starts up again in here.

[Aussie]

Please take the Kindergarten stuff to some other place.

Well .. Deepy's place is full atm.

I'm quite happy to start another topic Aussie (given this is IQ's topic).

I just wish to discuss the Oz property market. It seems I am asking too much for some reason.

I've now started another topic on the same subject matter just in case Romper Room starts up again in here.

[lisa jones]

Ok Aussie .. I'm smiling too.

Soo .. how about we ALL give this awesome topic another go.

In case you've not yet realised .. I'm really passionate about property. Even so .. in all fairness to IQ (who as we all know, consistently chooses to be an abrasive, crude and rude individual on here for some unknown reason), this is his topic and he does know quite a bit about the property market also (I've tested him out a few times and he knows enough even by my high standards of excellence and perfection lol).

It would be lovely if we could all jump in here and post in good faith.

There's so much to learn and discover if we share what we know (however little that may be).

[Leftwinger]

I probably won't post until sometime tomorrow Lisa - we're babysitting a tribe of little apes

But some relatives who earn much more than we do have just informed us that they are selling their investment property because the financial burden is becoming too much. As I have always thought, it really has been allowed to become much to expensive for people of ordinary means to afford a house with a prudent and sensible level of debt repayment.

[lisa jones]

All good .. we can talk more later Mr Leftwinger.

We'll continue posting in here .. hopefully it will be ok to do so.