Mangioni Property Valuations & Consultancy Pty Ltd

17/10/2023

Given I am sitting around and tend to scroll on Facebook.. Well it should now be real-estate book!

12/06/2022

03/05/2022

Well the honeymoon is over. The RBA has been threating like a mother saying that I will smack you if you don’t do as you are told. Well the Governor had had a little whack and he is trying to recoup the pandemic rate cuts. Inflation is out of control. The last time this happened was under Mr Howard’s watch in 2007. Watching the news the PM pushed it aside and the opposition blamed the government. I would not expected any more that that! The effect on the property market will not see an immediate change it will be slow. All property advisers will need to reset. Agents will need to start the conditioning process and some of the younger agents would not have had to do this before. Those headwinds I have been talking about a a breeze at the moment. The southerly buster is on its way! Who will be the first bank to raise rates. My tip NAB!

26/02/2022

I am so glad to see this I have seen a number of these skate boards and scooters .. They are an accident waiting to happen for bot the rider and pedestrians and cars. I don’t but probably do get why. They need to make some examples confiscating and fines.

It's illegal to ride electric scooters, electric skateboards, mini bikes and some small electric or petrol-powered vehicles on public roads, footpaths, car parks or in parks unless on private property in New South Wales.

Prohibited vehicles include:

* All petrol-powered bicycles that have a petrol-powered engine attached before or after purchase are powered by any other type of internal combustion engine.
* Motorised foot scooters (with or without a seat) with an electric or petrol engine
* Mini bikes or monkey bikes
* Motorised human transporters such as the WheelMan or Segways
* Skateboards with an electric or petrol motor

Prohibited vehicles cannot be registered or insured.

It is illegal to use prohibited vehicles on a road or road-related area like a footpath, car park or park. Heavy fines apply.

https://www.nsw.gov.au/topics/vehicle-registration/unregistered-vehicles/rules/prohibited

14/11/2021

Will be interesting to see the coal price and shares of the large coal mining companies over the next coming months!

07/10/2021

Property Gurus Let’s Chat Forum Doing Our Part For Breast Cancer.

Property Gurus Let’s Chat Forum will be holding Virtual Drinks Catch Up Roulette on Tuesday 26 October from 5 - 5:45 pm. This will be a way members of our group and any other participants will get to know each other talk about any topics. Given we have been meeting remotely for the last 19 months it will put a better face to a name

I am extending the invitation to the whole of my social network.

You will never know who you might get to chat with and from my experience, everyone loves to chat about the property!

All of the entry fees will be donated to the McGrath Foundation for Breast Cancer Research.

The entry fee will be $10, which will be donated to the McGrath Foundation. Should you wish to donate more, that would be great. I will be matching each person that attends with an additional $2 donation.

Should you wish to participate please see the link below to donate your $10 entry fee. This will then send you a Tax Receipt.

It should be a lot of fun and remember to wear something pink and have a glass of something during the chat.

Please email me your email address and I will send you an invite.

DONATION LINK

https://fundraise.mcgrathfoundation.com.au/fundraiser/tonymangioni/property-gurus-let---s-chat-forum

Tony Mangioni
Moderator
Property Gurus Let’s Chat Forum

Every breast cancer experience is different. That's why the McGrath Foundation aims to make life that little bit easier for individuals and families experiencing breast cancer. I'm fundraising to help place specialist McGrath Breast Care Nurses, wherever they're needed, and I'd love your support htt...

01/05/2021

There is a new trend happening in pricing residential real estate!You take the price guide & add $250k-$500k = value.No need to look at sales evidence anymore! A little tongue in cheek.A 50’s timber cottage renovated3+2 went to auction many contracts issued then a 12 registered bidders. If you parked a Mr whippy truck out the front he would of made a fortune.Price guide $1.650the first bid was $1,650 the highest offer suggested during the campaign. The bidders looked like stunned mullets sold $2,010m.Surprisingly I read an article that more properties are hitting the market.The author suggested that this might slow the market.I don't think anything will stop this raging bull market.Not even a bullfighter will stop this surge.Causes of a boom and bust cycle-supply and demand-the availability of financial and future expectations. A bust use to happen every 7 years putting aside other factors like GFC & a pandemic.This boom started in 2017 & then slowed towards the end of 2019,the pandemic hit March 2020,and now since March 2021 have gone nuts!Therefore will it be 2024 when it starts to slow ? So if there are say 10 bidders at every auction happening then one buyer that leaves 9 buyers say 10 auctions = 90 potential buyers.There is not effort stock and yes interest rates !

07/02/2021

Having reviewed the weekend auctions and sales, the fear of missing out continues. The real estate market is still headline news. COVID news has been pushed back further into middle pages of the newspapers. It is interesting now the new words being promoted, low interest rates, lack of stock and yes FOMO. It is starting to sound like a broken record .
We are only hearing the good stories where auctions are setting records above the reserve! Was the reserve realistic or is this any tactic that is trying to get sellers to come out? In valuation terms it's is acceptable to have been within a 10% margin. However ever some of the sales are well above the 10% margin...? We are only seeing a small number of sales above the reserves! I beg the question Is this the case with all auctions? I might be a bad judge but I think we are not seeing the results on an overall reflection. I said to myself that when the Governor of the RBA said on Tuesday, interest rates will not move until 2024 I thought this weekend the market would go nuts. I think the stock levels are low because some sellers are not convinced that their might be some headwinds about. Then there is buying and selling in the same market where you will need to compete with the first home buyers, lifestyle buyers, panic buyers and lots of people cashing in on their inheritance. Also stamp duty this I believe is a reason for low stock levels in houses, as the costs in buying and paying the deposit and stamp duties are rising and out of the reach of many buyers therefore people are not wanting to sell and maybe renovate their property rather than sell. I don't think it is the same in the unit markets, their is still a lot of new stock to be moved. I am waiting for the stimulus to come off and the mortgage holidays to stop we may see some easing of the record prices. All in all I have never witness markets as strong as this. The Australian dream of owning your own home is now becoming a nightmare!

30/01/2021

The residential real estate market is alive and kicking with no sign of COVID -19 going to slow this market down.
I witnessed an extraordinary event at a house my wife was assisting the owner as guardian to sell her house that she lived in for the past 40 odd years. This house was at Picnic Point comprising. Four (4)bedrooms, two (2) bathrooms and triple garage, unrenovated circa 1980 on site area of about 1,100m2 with a frontage of about 11 metres and not suitable for duplexes.
Today after the short campaign with interest from the first day the sign was erected on the property this property went to auction today with over 50 or more groups through. Many contracts issued and 12 bidders registered. Within a couple of moments and about 8 bids the hammer fell and it sold at a record price for the Picnic Point area. I am not at liberty to advise the price or reserve as I don't want to steal the agents thunder. I continue to shake my head at the pace that this market is gathering. I have never seen anything like it in my 38 year career. What pandemic??