a lot of people are holding their breath……

Hi, ao

If things are getting a little quiet in the RE market in your area, perhaps it is time to get a move on if you have done your research. Steve did mention in his first book that just a couple of months before the FHBG came into the picture, the RE market got rather quiet is people were waiting for the grant to kick in.

If people are waiting for an increase in the level of certainty or stability, then there must be sellers desperate enough to sell due to the perceived uncertainty, right? My partner and I bought our first PPOR; an 2 yr old apartment in Oakleigh, Melbourne. 2 mins from shops and 10 mins walk from the train station. We researched for a few months, saw the place advertised on RE.com, inspected the place a wk before its official OFI, put in an offer 2 days later, negotiated hard and signed on the contract 4 days after that.

The next day during the first OFI, the RE agent told us someone else offered almost $10K  more with no conditions and wanting to sign on that day itself. He apologised and told them the apartment had been sold just a day before. 

I definitely agree with a number of the experienced investors in PI.com that there will always be a deal of the week to be found under any economic condition. Do your research to the best of your knowledge and have a good team with you. For a start, I found a decent conveyancing firm and lender. As the Nike ad goes: 'Just do it'

All the best.
Daniel Lee