Hi Steve,
I have been following your updates regularly and I not only agree with everything you’ve said but I was under similar impressions prior.
I bought, renovated and sold my home back in July 05, and achieved record sale for the region in Laverton, Melb. When I placed my property for sale I believed that it was the last window of opportunity to achieve the maximum before the market starts to reverse. I have been sitting on the cash in a non term deposit high interest earning account with the funds available anytime but still working for me while I wait for a opportunity when prices start to fall. I am actively following the Hoppers Crossing, Werribee, Altona markets and have seen a lot of homes in the past 10 months take a long time to sell, not sell at all or sell at a much lower price than the seller expected. Currently I see a lot of Morgagees auctions taking place and to add a lot of them are not even getting a turn out….Most certainly times are getting hard for those heavily indebted, but as you say, others see this as an opportunity in disguise……

sarma krastavac