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Re: [sharechat] Omaha beach up date by macdunk


From: John.Loveridge@nz.logicalcsi.com
Date: Thu, 29 Jan 2004 14:48:46 +1300


thanks macdunk, thats exactly what i was after, i better be careful i dont
sell all other stocks and chuck it in with Grahame, people would crucify
this idea i guess, but blimin' tempting.
These sub divisions are unbelievable down here in the flat city, people
paying up to 140,000 for a 450 sq m patch of dirt 1 km from the dump??
Why!! oh lord tell me please!

Mystified of Chch


                                                                                
                                                          
                      "Duncan MacGregor"                                        
                                                          
                      <d-m_macgregor@xtra.        To:       "sharechat" 
<sharechat@sharechat.co.nz>                                       
                      co.nz>                      cc:                           
                                                          
                      Sent by:                    Subject:  [sharechat] Omaha 
beach up date by macdunk                                    
                      sharechat-owner@shar                                      
                                                          
                      echat.co.nz                                               
                                                          
                                                                                
                                                          
                                                                                
                                                          
                      29/01/2004 14:24                                          
                                                          
                      Please respond to                                         
                                                          
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I visited this subdivision to keep up to date with the FA of hqp.
The subdivision covers a very large area by memory 146 hectares flat to
slightly sloping with very little earthworks required to landscape.    the
roads kerbs footpaths and services are all completed .         The sections
are clearly marked with small sold signs on each one.    I drove up and
down at least twelve streets searching for a section that was still for
sale without luck.
Hundreds of sections the very cheapest one costs $220000 I was told later.
The real estate office was closed, so I called Into the first mreInz office
on the way back to go over the building covenants, plus get more Info on
how well It was selling.
The agent told me { exact words not to be taken as gospel}.    He said
:fourteen sections left on this stage so far they have sold 76 million
dollars worth".       I  asked how much did the greedy buggers pay for It
In the first place he said 17 million.
I was told one stage left to go, a smaller more high density living style
suburb.
The covenants are the strictest covenants that I have ever encountered, a
five thousand dollar bond for starters, with two sets of plans submitted
for approval before being allowed to apply to council for a building
permit.  About twenty pages In all to comply with.
Then even when you sell, the covenants are stuck to the title for
perpetuity.
My own opinion Is they are getting double what was expected, selling at the
top of a building boom after buying at the bottom.
That Is my last post on this company promise, but expect a I told you so In
six months time.
I sold out on AIA, I chickened out If you will excuse the pun, I need Ideas
on a new company to replace It.
Any one done the homework on fishing companies?. Fish export potential Is
on the rise with this chicken scare.
                                                           cheers macdunk





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