Losing Faith

[Mike F]

I think I may be losing faith — I need some positive reinforcement.

I have been putting offers on what few properties that are popping up in my somewhat limited price range, but the low end of the market, especially units, is going crazy.

Hey Mero,
Yep, give up and look inter-state... Nah, just kidding. I am out competeing in the same market, so it would be great if i had less competition
I have found the market in the bottom end to be really booming and units seem to sell in the first week - thats if they even make it to an open. I think sometimes it these markets, you have to be prepared to pay what you need to, to secure the property - it may even be more than the asking price.

the last unit I bought in Kurralta Park was on the market for $160,000 (pretty crappy), and I offered $170,000 (just over in fact) and was sucessfull in securing it. This was only about 2 months ago, and I reckon I could sell it for at least 185 as is (actually as it was - it is completely demolished currently).

So Mero, just get out there and do it - if the market really is rising so fast, then IMHO what does it matter if you pay 5% more than you think it is worth.

 

[steveadl]

Well said Mike. I made an offer on weekend under and never got a call back.

I've just had an offer accepted on one last night, and I offered well over advertised, but the other offers were very close too.

 

[Dis]

Are you glad that you did not go to auction?

In this market, a bird in the hand is worth 2 in the bush.... so yeah, very glad

In a slower market, I'd be more than happy to try my luck.

 

[cgw]

Hi,

hve you got your name down at some of the real estate agents so they can email you as soon as they get properties. The last RE agent who had my no fm a previous open inspection sold me a unit in Windsor Gdns for $170K, it never got advertised at all. She treated me just as important as the vendor, you never know, give her a ring Karen Makris 0417 830 324 and she may be able to help.

Cheers
Chris