Ribbon Property Consultants

24/01/2019

Ding Ding ... ROUND ONE ... & let the games begin.

THE RISE IN ‘REAL ESTATE AGENCY’ TRUST ACCOUNT FRAUD

It appears, there are more and more cases of trust account fraud being reported of late and a large portion of offenders are being successfully convicted.

Where did it all go wrong?

I can think of three scenarios for now. Perhaps you can add your thoughts to the three I’m posting.

1. The regulators not having enough resources to do more agency audits?
2. Real Estate Institutes (REI) and bodies dropped the ball and became a shelter for offenders rather than leaders in best practice?
3. The financial pressure on SME’s (agencies) to survive in these economic conditions and the ease of access to trust accounts, fueling temptation?

It will be interesting to see what else surfaces in 2019.

15/01/2019

The great Opal Fiasco an Endless Saga

As I have stated from day one: values in the area may have dropped by as much as 30% across the Homebush Olympic Precinct. Values in the Opal Tower, as I reported to the SMH initially would have dropped up to 50% and I said – if the reports continue to be delayed there will be further losses and particularly as there is no real and conclusive extensive investigation of the basement and sub-floor area. From today’s Mainstream Media we are told, it is “structurally sound” however major rectification work is required, design and construction are the main culprits and people can move in on builders advise… WTH???

Again, I will once more go on record and say: I WILL SEE THIS TOWER and many other Newly-Built towers in Sydney, be demolished. Current value in my view, has dropped to land value and this is based on what may be allowable to be built once again. In essence, land value is approximately 30% of the sale value (if the same tower was allowed). Less future restrictions, so I say 15% at the very most.

The premise for the State’s Planning body to lift the height restrictions on this building, was due to “design.” Today’s report, makes very clear indications, the issue occurred, due to “design and construction” and more investigation is required. Therefore, good lawyers, acting for the apartment owners, may well have a strong case against the NSW Gov and I say, against Real Estate Agents that sold these apartments with the captions – “great investment or great potential or great opportunity” any notion of both: financial gain and or security.

I discuss the latest in sick buildings with Edwin Almeida and consider what people in High-Rise developments should do. https://www.ribbonproperty.com.au/ Fi...

03/01/2019

Before you look at buying into any apartment block, call us for assistance.

Although only parts of a serious problem is reported; our background and researched, has uncovered more than people can imagine.

With their future uncertain, angry owners and tenants are openly threatening legal action against the builder and developer of Opal Tower.

27/12/2018

Where to from here? & Would you trust any report, and move back in? Then again, what do the owners do now?

Tenants can move, owner occupiers a different story.

The key to buying into any medium or high density complex, is research. Research the builder, the complex history and if you don't know where to start reach out.

I discuss the recent reports on cracks appearing in an Olympic Park High Rise with Property Insider Edwin Almeida who has been sounding the alarm on this iss...

17/12/2018

Here it is people... As always, if you need assistance - reach out.

1) Thinking of selling, and you want some advice?
2) Thinking of buying and you want to plan, to get a better deal?
3) Got taken for a ride by a real estate agent that charged you for marketing and didn't sell the home?

Reach out and lets have a chat...

Edwin and I sat down for an informal chat, during which we covered the outlook for the market in 2019, what people who are looking to sell might be best to d...

16/12/2018

What will 2019 hold for - home owners, investors and the SME sector?

Keep an eye ope, for the upcoming interview with Martin North...

Will 2019 be the time when the markets stabilize, or will more grenades be thrown into the fire?

Will the Fed or State governments, put out a HUGE stimulus package to keep the property market buoyant or- is it too little too late?

Video coming soon...

06/12/2018

As Bowie would sing - Ground control to Major Tom, take your protein pills and put your helmets on....

This one will be a bumpy ride people. Be sure to buckle up.

Sharing, all about mortgage stress and my on field observations.

We discuss the latest results from our household surveys, with the help of Harry Dent and Edwin Almeida. Please consider supporting our work via Patreon: htt...

05/12/2018

If you haven't subscribed to DFA, time to do so...

As home prices fall, the risk of households with mortgages falling into negative equity is rising. This has the potential to have significant economic consequences for households and the community …

05/12/2018

Only now, the mainstream are coming out with figures we called 3-6 months ago and in most of these areas.

Be mindful, the mainstream have and continue to make calls in the vein of, 2019 will be recovery time. Sadly, it won't be...

Others in the mainstream are also calling a "buyers market" and have been for the last 3 or so months.

1) Why would you buy into a falling market, and one that will continue to fall?
2) Has the market bottomed out? Short answer - NO
3) Are the suburbs noted, the extent of the areas, on -10% and above? NO NO NO - some areas that CoreLogic has not picked up on, are closer to -20% and a few, are around -22% and falling...

As always, stay informed and keep an eye on future posts. Also, feel free to PM me or email me [email protected]

04/12/2018

Compare the pair in Bondi... Pays to get good advice.

As some keep telling me I only look into Blacktown. Have a look at this little gem.

Same unit block.
Same layout
Same bedrooms and
Sqm.
One was more modernized. But LOOK AT THAT PRICE DIFFERENCE!!!!!

8 months and all has changed...

2/23 Wellington St, Bondi - $960,000 SOLD recently.
5/23 Wellington St, Bondi - $1,312,500 sold early in the year.

26/11/2018

This is only skimming the surface.

Some of the marketing material out in the industry, will make any reasonable person -puke.

It's time we gave the industry, a wake-up call and challenged some of its practices. Time to spring-clean.

Over recent years of feasting, binging and good times – the real estate industry has gone rogue. Who is at fault?

23/11/2018

A large portion of "owners corporations" will go broke in years to come.

Watch the video and reach out for more information and a guide on determining where to buy.

Property expert Edwin Almeida and I discuss the issues with both old and newly constructed residential buildings, and the sleeping problems they contain. htt...