feeding frenzy

W

WebBoard

Guest
From: Shelly R


Hi all,
I'm trying to buy in a very fast moving market.
I thought this boom had peaked months ago.
Has anyone seen a boom that just wont quit?
Appears to be driven by supply and demand.
Properties are fetching more than advertised prices.
Some people it seems to me are paying silly money but who really knows.
In a few months I could look back and wished I'd been silly.I already feel like that now.
Places that I turned my nose up at awhile back have gained up to 40%.
Would love to hear from the experienced ones who have bought and sold in unusually fast markets.
shelly
 
Last edited by a moderator:
Reply: 1
From: Jeremy Laws


1 - Don't
2 - If you have to (can't think of a good reason why you would, but if you do) buy quickly and pay the price.
3 - There are areas that are almost dead, buy there instead.
 
Last edited by a moderator:
Reply: 1.1
From: Shelly R


Thanks Jeremy,
I'm only interested in buying property in areas with a record of capital growth.
Dead areas may take too long to appreciate.
I bought two properties six months ago.House
for $178,000,now worth $300,000.A unit for
$170,000,now worth $280,000.
This I believe is incentive to buy in the same market!I suspect the big gains have
been made and the future will be much slower but from the indication of recent sales theres no backing off.
Some say this market could drop back but with
interests rates low and demand running feverishly high,supply low cant see why it will.
Your right do it and fast if at all.
shelly
 
Last edited by a moderator:
Reply: 1.1.1
From: Terry O





Shelly.
did you renovate these 2 properties or have they appreciated that much.thats outstanding GROWTH.
 
Last edited by a moderator:
Reply: 1.1.1.1
From: Jeremy Laws


Buying property because it HAS gone up is (in the words of a very famous investor) "like watching chicken tracks in the sand". Property is almost played out for the current cycle. Good Luck. I will still buy of course - just wouldnt recommend it to anyone - except in very localised pockets.
 
Last edited by a moderator:
Reply: 1.1.1.2
From: Shelly R



No need to renovate,Terry.
It's been a crazy boom.
Outstanding for those that got in early or midway.I keep thinking it must have peaked until I hear about the latest sale.
There is so little for sale and so many buyers.No land for sale and no new land releases in the near or distant future.
Cheers Michelle
 
Last edited by a moderator:
Back
Top