In this episode, hosts Max and Joe Pisano dive into the current real estate and financial climate with special guest, Mornington Peninsula-based real estate agent Steve Walsh.

1. Real Estate Market Overview (Max Pisano): Max discusses the current property market dynamics, noting low stock volumes and stable prices despite rising inflation and interest rates. He suggests it's a sellers' market, particularly for those with valuable properties.

2. The "Mortgage Cliff" (Joseph Pisano): Joe unpacks the looming "mortgage cliff," where many homeowners will transition from low fixed interest rates to significantly higher ones. He also notes a worrying trend of rising delinquencies among second-tier lenders.

3. Investor Dynamics (Max and Joe Pisano): Max & Joe observe that higher interest rates are prompting some investors to offload properties, possibly leading to an increase in supply and potential price decreases.

4. Mornington Peninsula Market (Steve Walsh): Steve contrasts the Mornington Peninsula market with its higher stock volumes and a steady inflow of discretionary buyers. Despite escalating building costs affecting valuations, he notes consistent average capital growth in the region.

5. Timing the Market: The hosts stress the importance of considering personal circumstances and readiness over market trends when buying or selling properties.

6. Land Tax Considerations: The conversation touches on increased land taxes for investors and potential rental price adjustments to offset this.

7. Market Optimism: Closing on an optimistic note, the hosts anticipate the stabilising of interest rates and the resurgence of buyer activity with the onset of spring. 

Join Max, Joe, and Steve as they navigate the complex terrain of real estate and finance, providing practical advice for listeners. Stay tuned for future episodes with more updates and insights.