Saturday, January 24, 2009
Haven’t heard from the Comedy Club in a while
It's quite common to hear property buyers and investors say they're waiting until house prices fall further before they buy. Our view is for a 0-10% fall in prices over 2009. For the professional investor or savvy homebuyer doing deals with sellers, the best prices you'll get are when sentiment is at its worst when people believe the world is terrible and there is no solution. Right now we have quite possibly just passed the worst possible moment in the property market when it comes to achieving the best possible prices. We are seeing signs that the distressed property market is beginning to turn up. People in the know start to buy first before very obvious indicators say that the time is right. Act like a professional investor with a mind of your own, not just listening to the herd.