Housing Market Recovery Article of 3/7/12 and update on Investor's Club
Lawsuit as follow:- Don't crack open the bubbly yet on housing market recovery: John Symond
By Larry Schlesinger
Tuesday, 03 July 2012
Aussie Home Loans founder John Symond has taken a circumspect view on the 1%
rise in dwelling prices recorded by RP Data-Rismark over the month of June. "It's a bit early to be cracking open the bubbly," Symond says. "You have double the number of homes on the market and double and treble the
length of time for them to sell - that creates a lag." Symond says what may have helped the RP Data numbers were state governments
bringing forward incentives for first-home buyers. "There's a whole lot of reasons." "It's just too early. It's still all negative news," Symond said on Channel
7's Sunrise program today. He says normally a 1% to 1.25% drop in interest rates (the cumulative size
of RBA rate cuts since November is 125 basis points) would result in a surge
in home-buyers, but consumers remain cautious and are not diving into the
market. Symond says the RBA may cut rates again in the next few months but this will
depend on what happens in Europe and if local data continues to be soft. Investors Club reaches confidential resolution with former clients over Gold
Coast apartment purchase
By Larry Schlesinger
Tuesday, 03 July 2012
Lawyers representing WA couple Hugh Wilson and Marilee Coombs have confirmed
that they have resolved their dispute with Brisbane-based The Investors Club
over a Gold Coast apartment they purchased with the help of the property
investment club in 2007. The dispute was due to be heard in a Perth court later this year after two
previous attempts at mediation between the parties failed. A spokesperson for law firm Slater and Gordon, which represented Wilson and
Coombs, says the terms of the resolution are confidential. Coombs and Wilson launched a claim against The Investors Club and two staff
members in August last year alleging they had been advised to purchase a
three-bedroom bushland house in Highland Park on the Gold Coast that they
later claim was grossly overpriced. The property reputedly cost $630,000 when the couple bought it in 2007,
though official records show a public sale price of $905,000. The Investors Club also negotiated a $60,000 discount for the couple on the
sale price. After the couple purchased the property they say an independent valuation
revealed the unit was worth as little as $450,000 at the time of the deal. The townhouse was sold by Matthew Mariconte, principal of Champions Property
Sales, for $391,000 on October 24 last year. The Investors Club denied the allegations and blamed the fall in value of
the townhouse on the effects of the GFC. Founder of The Investors Club Kevin Young told the Australian Financial
Review it had found an "amicable solution" to its dispute with Wilson and
Coombs. As part of the resolution to proceedings Wilson and Coombs issued a
statement to The Investors Club. The statement reads: "We acknowledge that at all times The Investors Club
were honest and genuine in their dealings with us."
unquote Best regards,
Linda and Carlos Debello
http://www.ljgrealestate.com.au
http://twitter.com/GillandDebello
http://au.linkedin.com/in/lindajanedebello
http://gillandrealestate.wordpress.com/
http://www.facebook.com/pages/LJ-Gilland-Real-Estate-Pty-Ltd/ Confidential email:- The information in this message is intended for the
recipient name on this email. If you are not the recipient please do not
read, copy distribute or act upon the message as the information it contains
may be privileged. If you have received this message in error, please
notify the writer by return email. Thank you very much for your assistance
in this matter and your co-operation.
Lawsuit as follow:- Don't crack open the bubbly yet on housing market recovery: John Symond
By Larry Schlesinger
Tuesday, 03 July 2012
Aussie Home Loans founder John Symond has taken a circumspect view on the 1%
rise in dwelling prices recorded by RP Data-Rismark over the month of June. "It's a bit early to be cracking open the bubbly," Symond says. "You have double the number of homes on the market and double and treble the
length of time for them to sell - that creates a lag." Symond says what may have helped the RP Data numbers were state governments
bringing forward incentives for first-home buyers. "There's a whole lot of reasons." "It's just too early. It's still all negative news," Symond said on Channel
7's Sunrise program today. He says normally a 1% to 1.25% drop in interest rates (the cumulative size
of RBA rate cuts since November is 125 basis points) would result in a surge
in home-buyers, but consumers remain cautious and are not diving into the
market. Symond says the RBA may cut rates again in the next few months but this will
depend on what happens in Europe and if local data continues to be soft. Investors Club reaches confidential resolution with former clients over Gold
Coast apartment purchase
By Larry Schlesinger
Tuesday, 03 July 2012
Lawyers representing WA couple Hugh Wilson and Marilee Coombs have confirmed
that they have resolved their dispute with Brisbane-based The Investors Club
over a Gold Coast apartment they purchased with the help of the property
investment club in 2007. The dispute was due to be heard in a Perth court later this year after two
previous attempts at mediation between the parties failed. A spokesperson for law firm Slater and Gordon, which represented Wilson and
Coombs, says the terms of the resolution are confidential. Coombs and Wilson launched a claim against The Investors Club and two staff
members in August last year alleging they had been advised to purchase a
three-bedroom bushland house in Highland Park on the Gold Coast that they
later claim was grossly overpriced. The property reputedly cost $630,000 when the couple bought it in 2007,
though official records show a public sale price of $905,000. The Investors Club also negotiated a $60,000 discount for the couple on the
sale price. After the couple purchased the property they say an independent valuation
revealed the unit was worth as little as $450,000 at the time of the deal. The townhouse was sold by Matthew Mariconte, principal of Champions Property
Sales, for $391,000 on October 24 last year. The Investors Club denied the allegations and blamed the fall in value of
the townhouse on the effects of the GFC. Founder of The Investors Club Kevin Young told the Australian Financial
Review it had found an "amicable solution" to its dispute with Wilson and
Coombs. As part of the resolution to proceedings Wilson and Coombs issued a
statement to The Investors Club. The statement reads: "We acknowledge that at all times The Investors Club
were honest and genuine in their dealings with us."
unquote Best regards,
Linda and Carlos Debello
http://www.ljgrealestate.com.au
http://twitter.com/GillandDebello
http://au.linkedin.com/in/lindajanedebello
http://gillandrealestate.wordpress.com/
http://www.facebook.com/pages/LJ-Gilland-Real-Estate-Pty-Ltd/ Confidential email:- The information in this message is intended for the
recipient name on this email. If you are not the recipient please do not
read, copy distribute or act upon the message as the information it contains
may be privileged. If you have received this message in error, please
notify the writer by return email. Thank you very much for your assistance
in this matter and your co-operation.
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