Purchasing this time of year

Viewing 6 posts - 1 through 6 (of 6 total)

Genesis01
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@genesis01
Join Date: 2003
Post Count: 56
November 29, 2006 - 4:45 am
Good afternoon all,
Just wondering what everybodies opinion is on purchasing an IP at this time of year.
Considerations:
Market slow
Market even slower at this time of year
Not a lot of prospective buyers
Just wondering
Happy investing
Regards
Daryl [strum]
Xenia
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@xenia
Join Date: 2002
Post Count: 1,231
November 29, 2006 - 12:59 pm
That is the most common misconception in the real estate market, that there actually exists “the right time to buy” if you wait for it you’ll always miss it!
Develop an investment strategy and find properties that suit that strategy, the market is always ready when you are!
Investment Property Management
http://www.adprop.com.au
L.A Aussie
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Post Count: 1,488
December 1, 2006 - 2:41 am
further to Dr.X’s comment, I would say that other than ‘now is the right time to buy’, it actually is a good time to buy now, or soon, as the markets are mostly flat and/or experiencing a ‘correction’. Some isolated areas are experiencing booms (Perth, Darwin), but generally, get into it if you can.
Cheers,
Marc.
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Genesis01
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@genesis01
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Post Count: 56
December 3, 2006 - 5:16 am
Rather than looking for a ‘right’ time to buy,
I was simply seeking everyones perception that if this
time of year things are definitey slowing down;
and if it might infact be a bad time of year to purchase!
L.A Aussie
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December 3, 2006 - 7:43 am
I was speaking to a r/e agent that I know here in L.A yesterday, and he said that this time of the year is traditionally a bit slower – less sellers, less buyers.
I guess the pattern is the same everywhere, but there are always houses on the market.
Get out there and find a bargain Daryl!! and if you find one – tell us.
Speaking of the agent in L.A; he said he has a client who owns 55 apartment buildings here in L.A. That’s not a typo – 55. And he is still out there looking for another.
I thought I was doing o.k until I heard that. Have to work harder I guess.
Cheers,
Marc.
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Mortgage Hunter
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December 3, 2006 - 8:13 am
Originally posted by Daryl:
Rather than looking for a ‘right’ time to buy,
I was simply seeking everyones perception that if this
time of year things are definitey slowing down;
and if it might infact be a bad time of year to purchase!
Wouldn’t a slowing market mean that motivated vendors are easier to find than in a hot market?
There are so many micromarkets in Australia that you cannot even begin to generalise like that. Even in my city there are suburbs and price ranges which are seeing a lot of buyers and others where prices seem to be dropping.
Simon Macks
Residential and Commercial Finance Broker
[email protected]
0425 228 985
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