"To buy or not to buy , that is the question ....."

From: See Change

Following on from the Lemmings posting

I am aware that some of the more experienced members are still buying properties with the aim of short term trading BUT are any of the longer term investors buying with a view to Buy and Hold or are you all standing on the side lines or cashing up with the aim of buying back in in a few years.

Any opinions would be appreciated

Happy investing see change
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Reply: 1
From: Paul Zagoridis

I'm looking for buy and holds now. I'm always looking for buy and holds, they're just scarce right now.

I think -- If I stop looking "coz there's not good deals right now" I'll miss the market when it turns.

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Reply: 2
From: Michael Yardney

I am definitely still looking AND buying. But I am much more cautious at this stage of the cycle and very, VERY selective. There are still good opportunities out there but you have to hunt for them and you have to recognise them when you see them. Don't count on prices continuing to increase at their current pace -if at all in the next 12 months. If they do - you get a bonus.. Remember you make your profits when you buy. Michael Yardney
Metropole Properties
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Reply: 2.1
From: JustAMum Bromilow

Were still buying and holding, but very selectively. I agree values may not be going up much in the near future, but a couple of points to note:
1. In major markets prices rarely go down, and I cant see any problems that would cause a deflation in prices in Sydney or Melbourne.
2. A deal is a deal in any market, and deals of the year keep coming up frequently (i e at least once a month) when you are in the right place at the right time.
3. Time heals all as someone famous once said in relation to the property market. Buy into the market now, and your locked into what ever the market does, and in one or two years time, if more deals come up you will have had some capital appreciation in your previously purchased property, then gear up again, and make that killing you were hoping for. You then have more than one in the hand, etc.
4. Doing your own market research and knowing your market is the first step to spotting a great deal.
5. Interest rates are still low and its great to lock in to guarantee your profit(or loss) margin and make finances dependable to organise.
etc...(I'm getting too cold to write further)
<There is no time like the present...>
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To hot for me!

Reply: 2.1.1
From: Glenn M


Very True!!! I'm here in Melbourne and at the moment, people are paying outrageous prices for some properties. How are so many people affording $500K+ for Apartments and houses? It's not as if the average Salary/Wage has increased substantially over the last two years. Does this mean that people are mortgaging up to the hilt? I suppose all we need is a 3-4% increase in interest rates and there will be many people in hot water.

I think that the tide will turn later this year or as soon as the FHOG runs out of steam. We'll probably find at this stage, the Share market will then start to take off (the good old economic clock at work-Where's Eric Snow by the Way?). However, next year will be a quieter year for Property with the major Banks forecasting interest rate increases around the Apr'02 to Jun'02 period.
It'll probably be a good time for us Property investors to make sure we are cashed up later next year, as there will be some bargains out there.

Glenn M.
PS Refer to Michael's disclaimer.
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To hot for me!

From: The Wife


You know, I agree the market is hot.

I do still think there is a couple of bargains around the place, not many.

A wise person once said to me, "Wife, when everyone else is buying, you should be selling ".

I believe what this person said to me is true.

Yes I am selling up quite a bit of property, I am cashing up a little bit.

The property I have brought to hold, I will start to get revalued closer to xmas, similar mindset to Michael Croft.

But, there are still some good buys about, dont stop looking. Get creative.

~Life is a daring adventure, or nothing at all~
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