I looked at a property yesterday. It already had two offers on it for $40,000 more than what I thought it was worth. Happily walked away! I've seen much better opportunities in the past few weeks, just need to be patient and do things differently.
The proposed zoning doesn't always go ahead also. Halfway through the last upturn cycle ( Feb 2005) i purchased a property that was proposed r20/r40. It kept getting delayed and eventually was rezoned r20/r30. Then the downturn in property occurred. An investor who purchased in the same street...