First home in Brisbane springwood area.

First home in Brisbane springwood area. Should I wait ? Is this a good time to buy? Any comments will be appreciate.
 
First home in Brisbane springwood area. Should I wait ?
What are you waiting for?:confused:
Interest rates to rise a bit more so your loan serviceability is less and so you can't afford (accoring to the bank's calculations) the home you really want to buy?
Or for prices to rise some more? They have already risen 6.2% in 2010 according to RP Data.:eek:

Is this a good time to buy?
Well if you wait another 10 years and look back you will be able to tell exactly. ;)

Just buy when you can afford it and do all the DD you need to do - and enjoy your home.
 
Thanks Guys. It is really helping. Had made an offer 380000 to a house on springwood yesterday. but other guy over bid me by 390000. House is only 2 days on the market. I called LJ Hooker they say owner wants a backup contract???
Should I keep looking or sign a backup contract? I am not really want to top on the price. But kind of like that house..
 
Thanks Guys. It is really helping. Had made an offer 380000 to a house on springwood yesterday. but other guy over bid me by 390000. House is only 2 days on the market. I called LJ Hooker they say owner wants a backup contract???
Should I keep looking or sign a backup contract? I am not really want to top on the price. But kind of like that house..

If agent suggests a back up contract it may mean that he suspects the first offer will fall over. Lots of offers are being scuttled right now leaving agents and owners starting over.

I've been asked to make a back up offer too, but I've refused. If the first offer falls off the cliff I will come back with a lower offer, but I don't want to be pinned to a back up contract in case something else comes up.

A couple of agents have told me that there is lot coming up on the market in the next 2 months.
 
Seems a lot of people selling their house now, and want it gone quick. Does that indicators price drop? Also our Government is keep cutting immigration number in coming future. interest rate still going up.
Am i just thinking too much or all this is indicate the market is going to drop???
 
Seems a lot of people selling their house now, and want it gone quick. Does that indicators price drop? Also our Government is keep cutting immigration number in coming future. interest rate still going up.
Am i just thinking too much or all this is indicate the market is going to drop???
In my small investing area there seems to be more listings, for sale signs for rent-lease but i have not seen a "Sold" sign in a while,not that means anything ,, try find someone that is desperate and the property has been on the market for over six months through several agents they are the ones too target not something that has just hit the markets,don't let the german car driving "RE" play you,ask yourself one question if the property you made a offer on just and they want a backup contract then you may well find yours is the only contract..good luck willair..,,
 
Seems a lot of people selling their house now,
Are you saying that anecdotally? Or is it just a 'feeling' you have? Really you have to have the hard numbers on listing now Vs listings now in any other year.

and want it gone quick.
Well I guess once a vendor decides to sell, most of them want it done quick. This is something that the numbers cannot tell you, although you could possibly see a desperation factor in the 'level of discounting' numbers available.

Does that indicators price drop?
Prices drop when supply exceeds demand. But just having more stock on the market, as a factor on its own, is not an indication that prices are about to drop - no.

Also our Government is keep cutting immigration number in coming future.
Yes, perhaps. But bear in mind we are under-building an awful lot of homes and have done for many years. According to the HIA, it is something like 50,000 homes pa short. Although most of this (35,000) is in NSW not Qld where you are looking.

interest rate still going up.
Just reverting to trend. And with the exception of the depths of the GFC, still the lowest IR settings in years.....

Am i just thinking too much .....
Yes. And the thinking you are doing is not well researched.

IMO, after Melbourne and Sydney, Brisbane would be the next place to move.
 
Yes, the springwood and rochedale south areas have softened slightly in my view. Very minor compared to the rises over the last couple of years though.
 
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