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  1. #21
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    Sure, but I was refering to a commercial venture with backing.

    your explaination quite nicely sums up the problem with Japanese banks...extremely conservative now...

    they also have some major problems with capital ratios...Mitsubishi Tokyo being the best of the major 4.



    things will change, and when that confidence comes back, you can be sure alot of money can be made again. IMHO

  2. #22
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    PS, the Govt. taxes and duties DO NOT help at all and real estate agent fees need a MAJOR overhaul...now, there is a business for you RMB. Shake up that mortgage market. Mortgage broking and 1% real estate fees

    They (govt.) could go along way to make it cheaper and easier for home ownership.


  3. #23
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    [quote]Originally posted by Pennywise

    PS, the Govt. taxes and duties DO NOT help at all and real estate agent fees need a MAJOR overhaul...now, there is a business for you RMB. Shake up that mortgage market. Mortgage broking and 1% real estate fees

    They (govt.) could go along way to make it cheaper and easier for home ownership.

    -Realestate Agent fees are certainly over the top helping inflate house prices as the vendors asking price+agents 3-4.5% fee on 80% of NZ house sales.
    -Can,t see the sale fees ever getting That low,would certainly reduce there numbers breeding like rabbits here in Queenstown something like 120 agents to some 20,000 people.
    Worst of all is the money there making with alot of them earning well over 100,000 [xx(][xx(]alot more that most of people that are involved in building them.

    "With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu

  4. #24
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    [quote]quote:Originally posted by JBmurc

    Originally posted by Pennywise

    PS, the Govt. taxes and duties DO NOT help at all and real estate agent fees need a MAJOR overhaul...now, there is a business for you RMB. Shake up that mortgage market. Mortgage broking and 1% real estate fees

    They (govt.) could go along way to make it cheaper and easier for home ownership.

    -Realestate Agent fees are certainly over the top helping inflate house prices as the vendors asking price+agents 3-4.5% fee on 80% of NZ house sales.
    -Can,t see the sale fees ever getting That low,would certainly reduce there numbers breeding like rabbits here in Queenstown something like 120 agents to some 20,000 people.
    Worst of all is the money there making with alot of them earning well over 100,000 [xx(][xx(]alot more that most of people that are involved in building them.

    Think he's talking about Japan []

  5. #25
    FEAR n GREED JBmurc's Avatar
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    [:I]
    "With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu

  6. #26
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    Net migration up - good for property. The following is an extract from the ASB Economic Note from last Friday.


    The August 2006 net migration inflow was 1,090 people, seasonally adjusted.

    The annual net migration gain was 12,490 to August 2006, up 89% on the year to Aug 2005.

    Overseas visitor arrivals for August 2006 were up 3% on a year earlier.



    Although inflows are at substantially lower levels than previous years, the net permanent migrant inflow on an annual basis appears to have picked up from the lows of late 2005. New Zealand gained 89% more permanent migrants in the year ended August. The pick up in migration over this year is supportive of the housing market, and consumer spending.



  7. #27
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    Website offers property data free

    Saturday September 23, 2006
    By Anne Gibson


    Want to know what your house or apartment is worth? What properties of a similar size and value have sold for lately in your area? How much your land is worth compared with the house or unit?

    State-owned enterprise QV is offering free property reports and market value estimates until October 8 to promote its services. It usually charges up to $69.95 a report.

    But beware: So many people are visiting the site that some reports are automatically being blocked or redirected as spam. So QV is telling clients to check spam filters or junk mail folders to hunt for their reports before they complain.

    The website asks you to enter details of your area and road or street address. A few minutes later, it automatically generates an email of QV's Essential Property Guide, which can be up to 20 pages.

    The guide has a map showing the property in relation to surrounding streets and blocks, a legal description of it, when it last sold, its sale price and its estimated market value today.

    Then it shows the 30 most recent sales within the past five years, a graph of sale price trends within the past decade and a comparison between the individual property price and that of the wider suburb and city.

    The report also shows school zones and the demographics of neighbourhoods based on the 2001 Census.

    Age, ethnicity, housing ownership, average household size, the time people have lived in the area, average rents, total household income, how many local people are unemployed and occupations are also shown.

    Steve Langridge, general manager of QV Online, said the free service was being run to enable people to see the scope and range of information available to help them if they wanted to buy or sell a property.

    More than 100,000 people have used the service since it started on August 22.

    Use this link....

    https://www.qv.co.nz/freereport/
    \"The overweening conceit which the greater part of men have of their own abilities [and] their absurd presumption in their own good fortune.\" - <b>Adam Smith</b> - <i>The Wealth of Nations</i>

    The information you have is not the information you want.
    The information you want is not the information you need.
    The information you need is not the information you can obtain.
    The informaton you can obtain costs more than you want to pay.

  8. #28
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    My Dad bought a brand new house in Manurewa for $258,000 in 1995. QV estimates it's worth at $431,000 in 2006.

    That's a gain of 4.8% over the last 12 years. My Dad hasn't added anything to it either. Just a fence and a few trees.

    That's certainly not doubling every 10 years ie, 7% . Nor is it doubling every 7 years, ie 10%.
    \"The overweening conceit which the greater part of men have of their own abilities [and] their absurd presumption in their own good fortune.\" - <b>Adam Smith</b> - <i>The Wealth of Nations</i>

    The information you have is not the information you want.
    The information you want is not the information you need.
    The information you need is not the information you can obtain.
    The informaton you can obtain costs more than you want to pay.

  9. #29
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    quote:Originally posted by rmbbrave

    My Dad bought a brand new house in Manurewa for $258,000 in 1995. QV estimates it's worth at $431,000 in 2006.

    That's a gain of 4.8% over the last 12 years. My Dad hasn't added anything to it either. Just a fence and a few trees.

    That's certainly not doubling every 10 years ie, 7% . Nor is it doubling every 7 years, ie 10%.
    Have to say, thats a pretty small sample there RMB

  10. #30
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    quote:Originally posted by trackers

    quote:Originally posted by rmbbrave

    My Dad bought a brand new house in Manurewa for $258,000 in 1995. QV estimates it's worth at $431,000 in 2006.

    That's a gain of 4.8% over the last 12 years. My Dad hasn't added anything to it either. Just a fence and a few trees.

    That's certainly not doubling every 10 years ie, 7% . Nor is it doubling every 7 years, ie 10%.
    Have to say, thats a pretty small sample there RMB
    It sure is Trackers!

    If you know of a house that has had no substatial improvements done to it, then do a free QV report on it, post the price increase here, and then we'll have a sample of 2.
    \"The overweening conceit which the greater part of men have of their own abilities [and] their absurd presumption in their own good fortune.\" - <b>Adam Smith</b> - <i>The Wealth of Nations</i>

    The information you have is not the information you want.
    The information you want is not the information you need.
    The information you need is not the information you can obtain.
    The informaton you can obtain costs more than you want to pay.

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