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Autos are Superior
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:mad::mad::mad::mad::mad:

Property vultures try to swoop on home owners Ellen Lutton
January 23, 2011
HOMEBUYERS greedy for a bargain descended on Brisbane's flood-ravaged suburbs within hours of the river peaking.

Real estate agents were shocked to receive calls as early as Thursday, January 13 - the day the Brisbane River peaked at 4.46 metres, leaving 25,000 homes flooded - from buyers ready to snap up a bargain.

Several homes that were inundated around Brisbane were on the market at the time of the floods, many in highly desirable streets in Chelmer, Graceville, Fairfield and Fig Tree Pocket.

Some of the calls were from potential buyers hoping to swoop in and secure multimillion-dollar residences at a fraction of the price.

Steve Sutliff from Ray White Graceville said he "couldn't believe" the phone calls he was getting from people ready to take advantage of those whose homes had been flooded only hours earlier.

"I could use another word for these people but I'll be diplomatic and call them opportunistic," he said.

"They rang, expressing interest in buying some of these affected properties at a cut price, ready to take advantage of the fact that some very expensive properties had been flooded.

"I was not very polite to them. I told them don't even ask, basically.

"How people could even contemplate looking to make themselves a buck out of property at the height of other people's misery is beyond me." X ELEVENTYTRILLIONTEEN...

Mr Sutliff said he and his Ray White staff were out in the following days helping their clients clean up.

"What we can't quantify is the human element, the emotional element, at a time like this. Some house prices in the area will be affected for a while I'd say, but each case will be different," he said.

"I would urge people not to panic about house prices. Do not panic sell as that's what these sorts of buyers are hoping for."

Martin Hood of Belle Property Graceville said he had received similar calls.

"Yes, I got some of those, too. It's awful, although one I spoke to probably didn't mean to hurt anyone's feelings; he was just naive about it I think," he said.

"It just goes to show how different some people are when you see their first reaction to a disaster like this - some see the heartache, others see a way into the property market."

The impact of the flood can already be seen in the housing market, with many listings on realestate.com.au updated to include "not affected during 2011 floods".

Mr Hood had one property for sale which went under, located at Graceville, and its internet listing was one of the first to be updated to include its flood status.

The listing now reads: "Flood affected, owners have cleaned-up and are motivated to sell."

"I haven't had a chance to sit down with the owners of this property and discuss price with them yet but yes, there's no doubt the price will be affected by what's happened," Mr Hood said.

"I agree that buyers are probably going to expect to see discounts on these properties now, what percentage discount I don't know - but I don't think the market is likely to fall in these areas as much as the bargain hunters would like.

"The fact is, people are always going to like these areas for their beautiful homes, their access to the CBD, their cafes, schools, leafy streets and lovely community atmosphere - which has never been more apparent than in the past week."

Prestige agent John Johnston, who lives in the flood-affected suburb of Chelmer himself - said he would not take kindly to calls from any "property vultures".

"No I haven't had any calls like that yet - they wouldn't dare," he said.

He said the buyers lingering on the sidelines ready to buy homes from under distressed flood victims were likely to be disappointed.

"Most people who can afford to live on the river got to that position in life, I believe, because they have stood the test of time commercially and are not the types to panic sell."

Queensland's army of volunteers may have inadvertently saved insurance companies millions of dollars in payment for the removal of debris after the floods.

Suncorp Insurance and the Insurance Council of Australia both confirmed the removal of debris after floods was included in a policy.

Last weekend, 22,000 registered volunteers and possibly triple that amount who were unregistered, rolled up their sleeves to clean Brisbane's flooded homes, businesses and sporting clubs.

Thousands, including Premier Anna Bligh, were out in force yesterday, continuing the mop up.

For those who were fortunate enough to be insured, they would have been covered for the cost of the clean-up and removal of the debris.

''No two policies are the same but we believe [the clean-up of debris] is covered,'' Insurance Council of Australia said.

Suncorp Insurance spokesman Mike Sopinksi said in an email that Suncorp home building policy provided for the removal of debris from the site but did not put a figure on the average clean-up price.

''The cost of removal of debris from individual sites will vary from site to site,'' he wrote. ''Suncorp Insurance has received over 10,000 claims from across Queensland since Christmas,'' he said.
 

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nissan
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I dont see the problem :confused:

Its in no way like they are stealing from the owners, if they want to sell they sell for an ice cold rock bottom price. No one ever got rich by being a wet.

Business must continue.
 

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Rogue
nissan gu patrol
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Meh, just business, was gonna happen sooner or later and the best in the best dressed.
 

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Nissan
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I dont see the problem :confused:

Its in no way like they are stealing from the owners, if they want to sell they sell for an ice cold rock bottom price. No one ever got rich by being a wet.

Business must continue.
Yeah I agree they may have been a bit soon though.

But at the end of the day they don't get anything unless the owners say yes.

So I don't see the problem
 

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Give it some goat
nissan
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I totally agree with benno, if they have lost everything and i give them say 80g then they are 80g better off thats alot of money to rebuild (yes they will have to rent but still) now I will make money off the property but I have helped someone out and then sold it and someone else will now have a house I don't see what is wrong?
 

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nissan
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There is always vermin that will sit down and think of a way to make a buck, regardless of what has just unfolded. Fact is, if someone doesnt, then there is a dozen that will have a crack. No one forced anyone to sign the dotted line, but I would like to think there is a 'little' integrity around (pfffft..as if)

Same old happened when black saturday ripped. Vultures were circling around licking their lips within days.
 

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Weekend Warrior
Nissan patrol
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Who knows, in some ways it could help some previous land owners/mortgage payers? But only if that is the intention of the buyers, and for them too NOT bargain down the initial land value.

Otherwise yes its a lowly act.
 

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Nissan
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if they are that desperate theyll sell for rock bottom theyre probly going to lose the property to the banks or what ever, and if they own it out right whats the point of floggin it off dirt cheap
 

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Autos are Superior
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Discussion Starter · #11 ·
The rivers hadnt peaked yet and people were calling.
They didnt even know what had happened to the properties. Nobody knew what they had left, or what was lost. Nobody did.

First in best dressed and all that, but let people think first before you try and fkuc them over while their minds are scattered.
To me thats fcuked up.
 

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nissan
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divide and conquer mate, morbid but true.

Im on or around the water a fair bit and I can say for a fact for a long time many mnay people have been saying that a 74 would happen again and many new arrivals dismissed it as old timer speak..... thier bad.
 

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nissan patrol gq
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I don't think it is that bad. There aren't people walking the streets finding the owners and telling them they will give them 100k. They are ringing agents to see what on the market. I agree they probably should have been out helping clean up and that they maybe should have waited a while. But at the end of the day those real estate agents are still going to take their cut of the damaged properties with no thought of giving a little bit extra to the people that need it.

If the stock market crashes would you have a problem with buying rock bottom shares? I don't think any one would. Even though a stock market crash may lead to a few suicides.

Cheers,
Nic
 

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Hi,

Timing is one thing, but if you lost a loved one through an accident or suicide would you be happy to have a phone call from a funeral company ? We can burn or bury cheap ! Yes people want to make a buck, but let the owners come to terms with the situation and make a rational decision.

My view B M
 

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KICKEN BACK IN THE BUSH
nissan gq
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I wanna see HOW someone will sell a house for less than is owed
Banks would never ever let this happen
IF the house/property is owned outright , well different story

Yes as mentioned those that are rich never got that way from doin an HONEST days work
 

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Enemy of Reality
nissan 09 gu patrol
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I wanna see HOW someone will sell a house for less than is owed
Banks would never ever let this happen
IF the house/property is owned outright , well different story

Yes as mentioned those that are rich never got that way from doin an HONEST days work
Sorry mate, but what do you think caused the GFC and banks in the UK and US to go bankrupt?

I cannot see the problem. I've even thought about it myself... People's properties will not be worth ANYWHERE NEAR what they were 6 months ago for YEARS maybe even decades. Why not get in early and make a few hundred thousand over the next few years. I hate to see people suffer, but if they could afford to buy on the brisbane river, they can afford to insure it IMO. If they were insured, then I'm sure they wouldn't need to be selling.

Now the people of Goodna, that's different... And Murphey's Creek et.al... Different again. These people need the compassion.
 

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Rogue
nissan gu patrol
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Yes as mentioned those that are rich never got that way from doin an HONEST days work
Just because they didn't labour, doesn't mean that their work wasn't honest. I hate how people assume that others better off than they are criminals as 'you couldn't possibly earn that much legally'.

If people are willing to sell and get out, then they will take what ever money they can for their place. If they say yes, then is the purchaser an arsehole?
 

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KICKEN BACK IN THE BUSH
nissan gq
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4,690 Posts
Mic,
Read up how the GFC was started and what the main reasons for it happening
People borrowed beyond their means and capabilities
IF u owe 100K on your house , see if the bank will let you sell for 50K
And waver the balance
Cant see it

heyhey,
My point was a large % of those rich are that way either from shonky deals,
praying on the less fortunate
They didnt get that way from being "Honest"
By all means there will be plenty who will say bugger it sell it all , lets start a better/newer life
But if theres money owing by a financial institute they are commited to honour that commitment
 

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Enemy of Reality
nissan 09 gu patrol
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Mic,
Read up how the GFC was started and what the main reasons for it happening
People borrowed beyond their means and capabilities
IF u owe 100K on your house , see if the bank will let you sell for 50K
And waver the balance
Cant see it
snip
Agreed, tehy'll never waiver - you'll still owe them money. BUT;
If your house is worth 50K due to whatever reason (and you owe 100K) - they'll allow (loose term for 'cannot stop') you to default... if they cannot then shift it - they go broke... GFC insues.

Doesn't matter how you got there, but things are only worth what people will pay.
 

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Rogue
nissan gu patrol
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20,225 Posts
Mic,
Read up how the GFC was started and what the main reasons for it happening
People borrowed beyond their means and capabilities
IF u owe 100K on your house , see if the bank will let you sell for 50K
And waver the balance
Cant see it
That is in the US, were you can just hand back your house and walk away from the the debt, not here. But would the bank lend you more money to fix the house that is uninsurable and likely to see another flood, I have my doubts.
 
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