In these times of uncertainty, where others see doom and gloom I see opportunity. As Warren Buffet said, “Be fearful when others are greedy, and greedy when others are fearful”.
In recent years I have seen many in the property market being greedy on the back of hyped media and hyper price inflation which created a self perpetuated “bubble”. While I don’t believe in bubbles or the bursting of them (not in Australia’s market), I do believe in cycles. Right now we are in the down cycle and likely to be so for the next 12 – 18 months. This spells opportunity for those with the capacity and cajones to do so.
While the media have swung to hype the “burst bubble”effect, and we see the new lending criteria beginning to bite, there is an opportunity to secure apartments or house and land at 2017 or even 2016 pricing. Just last week I sold a block of land for $166,500 that is currently worth $225,000 based on developer sales in the same estate, and the same dimensions.
This comes about as those who purchased or even speculated 12 – 24 months ago now find they need to settle, and the banks have said no. It can be the impact of something as simple as a recent change of career. And there are hundreds in this predicament.
This allows me to identify those in need and find a buyer who is in a position to finance the sale and create a win/win situation. The vendor avoids foregoing their deposit, and the purchaser gets a bargain on something that will require little or no holding costs.
If you would like to know more about how I can assist click here or complete the form below. Lets make 2019 the year you cashed in on the market conditions when others couldn’t, or worse, wouldn’t!