Posted to Facebook on 20/4/2017 at 9:41 PM
Commenting on "2017 Melbourne auction market shaping up to be ‘one of the strongest in recent years’"
https://www.realestate.com.au/news/2017-melbourne-auction-market-shaping-up-to-be-one-of-the-strongest-in-recent-years/
High number of auctions can be interpreted differently from the usual hype. Is it possible that some of properties have to be auctioned due to default by owners who bought them previously at a ridiculous price and can no longer afford to repay the loan interest?
People put their properties in the market for a reason. If they sell high, and buy at the same time frame, they will pay high. That is not a wise move.
To sell a house and buy a house of the same value, one loses about 8% in selling commission plus expenses on selling and stamp duty plus expenses on buying. If the price of each house is $750,000, the outlay is $60,000. There is a lot of money in my opinion.
Thank you for reading.
Commenting on "2017 Melbourne auction market shaping up to be ‘one of the strongest in recent years’"
https://www.realestate.com.au/news/2017-melbourne-auction-market-shaping-up-to-be-one-of-the-strongest-in-recent-years/
High number of auctions can be interpreted differently from the usual hype. Is it possible that some of properties have to be auctioned due to default by owners who bought them previously at a ridiculous price and can no longer afford to repay the loan interest?
People put their properties in the market for a reason. If they sell high, and buy at the same time frame, they will pay high. That is not a wise move.
To sell a house and buy a house of the same value, one loses about 8% in selling commission plus expenses on selling and stamp duty plus expenses on buying. If the price of each house is $750,000, the outlay is $60,000. There is a lot of money in my opinion.
Thank you for reading.
