I have closely followed the market for the last 3 months in my area and thier have been a significant increase in property listings and houses have dropped up to $40,000 in some cases.
6 more months and i will be jumping in again to buy hold, and build my portfolio.This should let me retire early and comfortably.
What are your thoughts?
Dom
[biggrin]
Exactly the same as they were the last time you asked this question!!![blush2]
Dom, you are such a worry wart!!!….Relax, enjoy the holidays, keep doing what you’re doing (watching the market) and when the time is right for you BUY, then HOLD and eventually you can RETIRE.
Too easy!!!
Jo
what sort of price tag is on these properties?
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
That is subjective Ausprop; I guess it depends on how much Dom needs/wants to retire on.
just trying to gauge the % drop that Dom has witnessed:
“houses have dropped up to $40,000 in some cases”
IMO I think that a further drop of this magnitude is wishful thinking but who really knows?!
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
AusProp,
I dont think the price is important its more to do with monitoring reasearch and speaking with people in the industry.
One particular house went from $235,000 to $180,000 in 1 month.
Monopoly,
I dont necessarily beleive everybody buys and hold in a boom but more of a downturn to acheive better results. That is why i have been keeping an eye on the local market in my area. I understand that your approach has been quiet successfull and i respect that.
My approach is to buy cheap and and prosper.
Dom[biggrin]
Dom,
I meant no disrespect to you or your strategy; and as far as buying and holding, I tend to agree with you to an extent. I buy when the market is down and sell when it is up, as you seem to be trying to do now; and that’s fair enough.
I was just saying “chill out” don’t bother yourself too much, it’s Christmas, kick your heels up and forget the market right now. Besides there probably won’t be too much of a change in one month. Yes I understand you noticed one such property fall significantly in a short space of time, this is probably because it has been on the market for an extended period hence the vendor has had his/her hand forced in order to secure a sale; not uncommon in today’s market.
Many people will argue that now is not the time to buy, because property is losing flavour, growth is limited blah blah blah; all of which has merit, but generally speaking NOW is when genuine buyers have negotiation power in their court, which is why the above scenario probably came into play (along with some “correction” of market prices too no doubt).
Nonetheless……
Merry Christmas to you and yours, and a prosperous New Year.
Cheers,
Jo
” AusProp,
I dont think the price is important its more to do with monitoring reasearch and speaking with people in the industry.
One particular house went from $235,000 to $180,000 in 1 month.”
hang on – maybe my accounting does are haunting me here but I would say it’s right up there in importance. a $55,000 drop in 1 month (23%) and looking for another 23% drop? this would be an economy in melt down. Now if you were talking about a $1m house I would say its just usual selling strategy.
Monopoly – as my great idol Gordon Gecko says “money never sleeps”, whilst everyone else is partying this is an ideal opportunity to snatch a bargain, how many vendors would be looking to have a nice cash offer on their house and relax over xmas in the knowledge that its all a done deal?
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
Hi all,
Ausprop, your thoughts are the same as mine. I have spent this week, searching a particular area (in QLD) high and low for a property that perhaps the vendors want sold NOW…
This is an excellent time to pick up a bargain, because many vendors will be thinking that they have missed the boat, with solicitors etc all closing down for a while, many vendors will take what they can NOW for a quick sale.
The early bird catches the worm, (or something like that)…[blush2]
Del
Ausprop/Wilandel,
You two are awesome!!![thumbsupanim]
Excellent point, and soooooooo true!!! Yes while I am busy enjoying the festivities RE opportunities / bargains are slipping by…..
Heck, I may regret not plying my potential victim (vendor) with just one more Vodka spritzer while I shove the pen in his hand before he sobers up and realises I have just bought his house for next to nicks!!! [blush2]
Oh well, at least I can sleep easy knowing that the poor bugger won’t end up with a right RE hangover come New Years Day huh??? [eh]
Merry Christmas peoples!!! [winking]
Jo
Monopoly,
[biggrin][biggrin][biggrin]
Regards,
Del
Merry Christmas to everyone.
As usual your imputs have been a great help and i look forward to enjoying this forum well into the new year.And remember as once napoleon said “nothing is impossible”.
Dom[biggrin]
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