September 27, 2025 • 9 mins
0:01 - Strong Real Estate Market Trends and Buyer Demand
2:53 - Buyers' Unusual Reasons for Backing Out of Property Deals
4:13 - Understanding Mortgage Commitments Before Buying Property
7:22 - Real Estate Auctions and Fear of Missing Out
8:28 - Celebrating Cancer Remission and Gratitude at Mount Athos
My Clearance Rate: 8/8 SOLD
What was it like in your market? Comment below 👇
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Tom Panos (00:00):
Your loan repayment is $8,200 a month, and that is
subject to a mortgage broker ora bank approving a loan.
He says, Oh, it's not going tobe a problem.
I'm going to get a low dockloan with a mortgage broker that
I play indoor soccer with.
Can't believe it.
Eight out of eight.
Eight out of eight.
(00:22):
It just gets stronger.
This market's good.
This market is good.
I mean, last week I didn't selltwo out of the nine, but before
that, like everything isselling and selling well.
I've just come out of aproperty at Voyager Point, and
(00:43):
I've got to let you know, myowner would have been happy to
have taken hundreds and hundredsand it's a r it's a difficult
thing to say.
I don't like saying it becausewhen you actually go off and you
talk about, oh, they got topdollar four or five hundred
grand over reserve, it's, youknow, like it's not things that
(01:04):
buyers want to hear.
Yet it's a fact that that'swhat actually happened, and it
happened because two peoplewanted this property in Voyager
Point, which is a suburb that Idon't really don't know too much
about, but what I can tell you,it appears, is the last time a
property transacted here wasfour years ago.
So it's a very tightly heldreal estate market.
(01:25):
But eight out of eight, andI've got to say to you, next
week we're gonna have uh, youknow, probably more buyers
because of the the October one,five percent deposit.
There'll be more people outthere looking.
And I have to say to you, um,when you couple that with the
fact that we're gonna have aninterest rate drop most likely,
(01:45):
apart from the governmentstimulus, there is nothing else
but strong prices, I expect forthe remainder of this year.
And I have to say to you,ladies and gentlemen, that for
me, you know what happenedtoday?
I had a buyer, it's it ithappens every six months, I
(02:06):
think.
I have a buyer that pulls outjust before the auction starts
because of a reason that seemslike stupid.
And today's stupid one was thatagain, their fridge would not
fit in the kitchen.
Think about that for onemoment.
(02:28):
You're about to buy a propertyat $2.5 million, and you choose
not to buy the property becauseyour West in House fridge that
you may have had for I don'tknow, three years does not fit
(02:48):
in this two and a half milliondollar property.
Go to Harmony Norman and buyanother fridge.
That's what I wanted to say.
But I didn't say it.
Why didn't I say it?
Because I thought they mightthink I'm condescending.
I don't know why I didn't sayit.
(03:09):
I just thought to myself, leavethat comment alone.
They don't want to bid becausetheir Westinghouse
three-year-old fridge doesn'tfit in their two and a half
million dollar property.
Stay out of it.
Stay out of it.
And I have to say, the otherthing, ladies and gentlemen, is
I had a buyer this morning thatI actually sort of turned off
(03:34):
buying.
And the reason why he wasn'tbuying a property today, he's
paying to buy something inOctober, November.
So here's the story.
Nice guy, young, is renting.
He's paying $750 a week rent.
He said to me, he's over themoon about the fact that he can
(03:56):
now buy a property with the $1.5million threshold allowing him
not to have mortgage insurance,and he can buy with a 5%
deposit.
I asked him a few questions.
I said, Where are you living?
He said, Oh, I'm renting in theinner west.
He's paying $750 a week rent.
Right?
I said, Great.
And I said, What are you gonnabuy?
He goes, I'm gonna buysomething at around $1.5
(04:17):
million.
You're gonna buy something at$1.5.
I said, Great, fantastic.
So what's your deposit?
He says, I've got five percent,so that's $75,000.
I said, So you're gonna borrow$1,425,000.
I said, well, let's quickly dothe loan repayment.
It's $8,200.
I've already done the exercise.
Your loan repayment is $8,200 amonth, and that is subject to a
(04:40):
mortgage broker or a bankapproving a loan.
He says, Oh, it's not gonna bea problem.
I'm gonna get a low doc loanwith a mortgage broker that I
play indoor soccer with.
That's what he said.
I said, okay.
I said, let's assume you getyour loan.
You're still gonna come up witha loan repayment of $8,200 a
(05:00):
month.
And I said, you're paying atthe moment rent of $750 a week.
Rent of $750 a week versus aloan repayment of $8,200 a
month, loan repayment of $8,200a month, ameth on a weekly
basis, is two grand.
Well it's more, but let's saytwo grand.
Works out that you've got tocome up with an extra $1,250 a
(05:23):
week.
And he looked at me and I said,not one week, every week.
Every week for the life of yourloan, you're gonna have to come
up with that kind of money.
So I said, sir, my advice toyou is get back with your
calculator and pen, because Ispend my time on Saturdays going
(05:47):
to auctions and often in thelast few years selling
properties for people notbecause they want to, but
because they have to, becausethey didn't sit down and work
out what the monthly repaymentwas going to be on a long-term
basis.
And if rates go up, it goes upeven higher.
(06:07):
So, ladies and gentlemen, ifthere's a buyer out there that's
watching, I'm letting you knowjust because you've got a
mortgage broker that mightactually be flexible and help
you get a loan across the books,you are the person that has to
live with the consequences of amortgage of 1,425,000.
If you're going to buy aproperty for 1.5 with a 5%
deposit.
Now I sound like someone tryingto turn people off buying, but
(06:32):
all I'm doing is giving people aview before they sign a
contract and sign a mortgagedocument what they're in for.
They need to understand that.
That doesn't mean you shouldn'tbe buying it.
What I'm saying is understandbuyer beware.
Cameron, are we seeing a boom?
I'm not going to call it a boomat this stage, but I'm calling
(06:58):
it fear of missing out, and fearof missing out always precedes
a boom.
Thank you.
I love going into Channel 7.
I love seeing that ex-printer,Shervington, but he was on
annual leave, so he wasn't thereyesterday or the day before
when I went in for Channel 7.
Anyway, ladies and gentlemen,that concludes another week of
(07:21):
100% options, incredibleresults.
There were some outstandingresults.
We're talking about big moneyover reserves.
I'm just over the moon.
These owners have been kindenough and gave me a nice bottle
of.
What have they given me?
They gave me a bottle of this.
And they gave me a bottle ofthis because they moved their
(07:43):
auction on the last moment totoday instead of Sunday, which
sort of suited me anyway.
But they thought they'd be niceand I'm happy for it because
they've got like around 100grand more than what they were
originally happy looking for.
Thanks, Mel.
And team, I'm gonna drink thatred wine tonight.
I'm gonna drink that red winebecause I'm I'm on a I'm on,
(08:04):
I'll be honest with you, I'm oncloud nine.
I'm on cloud nine.
Many of you know that I postedit yesterday.
I've been agonizing, I've beenhaving insomnia, I've been
stressed.
I had a I had cancer at thestart of this year for the
fourth time, and I had treatmentin March, and you're supposed
to have a scan after yourtreatment.
(08:24):
But for me, it's been a case ofno news is good news.
I then ended up going overseas.
I then came back, and becauseI've got to go overseas next
week to London, Bulgaria, andGreece, all for work by the way.
My doctor said, You've got toget this done before you go,
Tom.
We need to know whether there'scancer in your body or not.
(08:46):
We need to know whether thistreatment has worked.
And um, at uh at 9.30yesterday, it was all confirmed
on cancer trial.
And uh I just can't tell youwhat a privilege to be able to
wake up and be alive and not beworried that you've got cancer
cells there in your body.
(09:07):
I'm just, you know, I I I I I'mjust over the moon.
And when I go overseas, I'mgonna take two days off and I'm
going to Mount Athos, themonastery, to pay my respects
for a second time this year.
I was only there three monthsago.
But I'm gonna go back there tosay thank you, to say thank you.
Because there's no way in theworld that without any divine
(09:32):
help I would be able to be aliveafter having had cancer four
times, and not a great cancer,leptic cancer, and metastasized
cancer.
Stage four diagnosis.
Your loan repayment is $8,200 a month, and that is
subject to a mortgage broker ora bank approving a loan.
He says, Oh, it's not going tobe a problem.
I'm going to get a low dockloan with a mortgage broker that
I play indoor soccer with.
Can't believe it.
Eight out of eight.
Eight out of eight.
(00:22):
It just gets stronger.
This market's good.
This market is good.
I mean, last week I didn't selltwo out of the nine, but before
that, like everything isselling and selling well.
I've just come out of aproperty at Voyager Point, and
(00:43):
I've got to let you know, myowner would have been happy to
have taken hundreds and hundredsand it's a r it's a difficult
thing to say.
I don't like saying it becausewhen you actually go off and you
talk about, oh, they got topdollar four or five hundred
grand over reserve, it's, youknow, like it's not things that
(01:04):
buyers want to hear.
Yet it's a fact that that'swhat actually happened, and it
happened because two peoplewanted this property in Voyager
Point, which is a suburb that Idon't really don't know too much
about, but what I can tell you,it appears, is the last time a
property transacted here wasfour years ago.
So it's a very tightly heldreal estate market.
(01:25):
But eight out of eight, andI've got to say to you, next
week we're gonna have uh, youknow, probably more buyers
because of the the October one,five percent deposit.
There'll be more people outthere looking.
And I have to say to you, um,when you couple that with the
fact that we're gonna have aninterest rate drop most likely,
(01:45):
apart from the governmentstimulus, there is nothing else
but strong prices, I expect forthe remainder of this year.
And I have to say to you,ladies and gentlemen, that for
me, you know what happenedtoday?
I had a buyer, it's it ithappens every six months, I
(02:06):
think.
I have a buyer that pulls outjust before the auction starts
because of a reason that seemslike stupid.
And today's stupid one was thatagain, their fridge would not
fit in the kitchen.
Think about that for onemoment.
(02:28):
You're about to buy a propertyat $2.5 million, and you choose
not to buy the property becauseyour West in House fridge that
you may have had for I don'tknow, three years does not fit
(02:48):
in this two and a half milliondollar property.
Go to Harmony Norman and buyanother fridge.
That's what I wanted to say.
But I didn't say it.
Why didn't I say it?
Because I thought they mightthink I'm condescending.
I don't know why I didn't sayit.
(03:09):
I just thought to myself, leavethat comment alone.
They don't want to bid becausetheir Westinghouse
three-year-old fridge doesn'tfit in their two and a half
million dollar property.
Stay out of it.
Stay out of it.
And I have to say, the otherthing, ladies and gentlemen, is
I had a buyer this morning thatI actually sort of turned off
(03:34):
buying.
And the reason why he wasn'tbuying a property today, he's
paying to buy something inOctober, November.
So here's the story.
Nice guy, young, is renting.
He's paying $750 a week rent.
He said to me, he's over themoon about the fact that he can
(03:56):
now buy a property with the $1.5million threshold allowing him
not to have mortgage insurance,and he can buy with a 5%
deposit.
I asked him a few questions.
I said, Where are you living?
He said, Oh, I'm renting in theinner west.
He's paying $750 a week rent.
Right?
I said, Great.
And I said, What are you gonnabuy?
He goes, I'm gonna buysomething at around $1.5
(04:17):
million.
You're gonna buy something at$1.5.
I said, Great, fantastic.
So what's your deposit?
He says, I've got five percent,so that's $75,000.
I said, So you're gonna borrow$1,425,000.
I said, well, let's quickly dothe loan repayment.
It's $8,200.
I've already done the exercise.
Your loan repayment is $8,200 amonth, and that is subject to a
(04:40):
mortgage broker or a bankapproving a loan.
He says, Oh, it's not gonna bea problem.
I'm gonna get a low doc loanwith a mortgage broker that I
play indoor soccer with.
That's what he said.
I said, okay.
I said, let's assume you getyour loan.
You're still gonna come up witha loan repayment of $8,200 a
(05:00):
month.
And I said, you're paying atthe moment rent of $750 a week.
Rent of $750 a week versus aloan repayment of $8,200 a
month, loan repayment of $8,200a month, ameth on a weekly
basis, is two grand.
Well it's more, but let's saytwo grand.
Works out that you've got tocome up with an extra $1,250 a
(05:23):
week.
And he looked at me and I said,not one week, every week.
Every week for the life of yourloan, you're gonna have to come
up with that kind of money.
So I said, sir, my advice toyou is get back with your
calculator and pen, because Ispend my time on Saturdays going
(05:47):
to auctions and often in thelast few years selling
properties for people notbecause they want to, but
because they have to, becausethey didn't sit down and work
out what the monthly repaymentwas going to be on a long-term
basis.
And if rates go up, it goes upeven higher.
(06:07):
So, ladies and gentlemen, ifthere's a buyer out there that's
watching, I'm letting you knowjust because you've got a
mortgage broker that mightactually be flexible and help
you get a loan across the books,you are the person that has to
live with the consequences of amortgage of 1,425,000.
If you're going to buy aproperty for 1.5 with a 5%
deposit.
Now I sound like someone tryingto turn people off buying, but
(06:32):
all I'm doing is giving people aview before they sign a
contract and sign a mortgagedocument what they're in for.
They need to understand that.
That doesn't mean you shouldn'tbe buying it.
What I'm saying is understandbuyer beware.
Cameron, are we seeing a boom?
I'm not going to call it a boomat this stage, but I'm calling
(06:58):
it fear of missing out, and fearof missing out always precedes
a boom.
Thank you.
I love going into Channel 7.
I love seeing that ex-printer,Shervington, but he was on
annual leave, so he wasn't thereyesterday or the day before
when I went in for Channel 7.
Anyway, ladies and gentlemen,that concludes another week of
(07:21):
100% options, incredibleresults.
There were some outstandingresults.
We're talking about big moneyover reserves.
I'm just over the moon.
These owners have been kindenough and gave me a nice bottle
of.
What have they given me?
They gave me a bottle of this.
And they gave me a bottle ofthis because they moved their
(07:43):
auction on the last moment totoday instead of Sunday, which
sort of suited me anyway.
But they thought they'd be niceand I'm happy for it because
they've got like around 100grand more than what they were
originally happy looking for.
Thanks, Mel.
And team, I'm gonna drink thatred wine tonight.
I'm gonna drink that red winebecause I'm I'm on a I'm on,
(08:04):
I'll be honest with you, I'm oncloud nine.
I'm on cloud nine.
Many of you know that I postedit yesterday.
I've been agonizing, I've beenhaving insomnia, I've been
stressed.
I had a I had cancer at thestart of this year for the
fourth time, and I had treatmentin March, and you're supposed
to have a scan after yourtreatment.
(08:24):
But for me, it's been a case ofno news is good news.
I then ended up going overseas.
I then came back, and becauseI've got to go overseas next
week to London, Bulgaria, andGreece, all for work by the way.
My doctor said, You've got toget this done before you go,
Tom.
We need to know whether there'scancer in your body or not.
(08:46):
We need to know whether thistreatment has worked.
And um, at uh at 9.30yesterday, it was all confirmed
on cancer trial.
And uh I just can't tell youwhat a privilege to be able to
wake up and be alive and not beworried that you've got cancer
cells there in your body.
(09:07):
I'm just, you know, I I I I I'mjust over the moon.
And when I go overseas, I'mgonna take two days off and I'm
going to Mount Athos, themonastery, to pay my respects
for a second time this year.
I was only there three monthsago.
But I'm gonna go back there tosay thank you, to say thank you.
Because there's no way in theworld that without any divine
(09:32):
help I would be able to be aliveafter having had cancer four
times, and not a great cancer,leptic cancer, and metastasized
cancer.
Stage four diagnosis.
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
The Joe Rogan Experience
The official podcast of comedian Joe Rogan.