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To all the BA on Somersoft,
What are the advantages for using a good BA in a hot market like today where everyone just offer n offer n offer above anyone else ...
Cheers
Arashi
For them or you?What are the advantages for using a good BA
For them or you?
Spending $5k more than you need to in an already overheated market....?
Are you buying for investment, or PPoR?
personally i cannot lock in any offers due to others offering above n above n above all time
If you're talking about Sydney, I recall reading from some SS BA's that they too are struggling to compete in this market.
mainly NSW
To all the BA on Somersoft,
What are the advantages for using a good BA in a hot market like today where everyone just offer n offer n offer above anyone else ...
Cheers
Arashi
for investors...
just a generic question regarding pros and cons of using BA in a hot/cold market
personally i cannot lock in any offers due to others offering above n above n above all time
Yes, same thing happens to me here in Sydney.
I've been offering according to what RPData suburbs statistics median price +$5k and up to $10k,
but somehow there will always be someone woh crazily enough to out bid me in the auction for more than $50k above the reserve price
Therefore, just like some of the SS experts told me, hold your horses investing in Sydney, better to invest somewhere else outside Sydney NSW or go to Regional area such as Wollongong area.
This is based on credible source: http://www.smartpropertyinvestment.com.au/opinion/14287-3-regions-with-potential-for-growth
Hope that helps.
If you're talking about Sydney, I recall reading from some SS BA's that they too are struggling to compete in this market.
That was probably me. Not dumping on BA service, just calling a spade a shovel.
In a rising market BA also struggle to find deals, not saying they wont and they don't.
For me the best way to source a property in a rising market is to network with re agents and as many as you can. The best deals I have sourced have always been because I am either working with a lazy re agent or out of area agent who does not have a handle on the area/prices and wants to sell, and not be bothered with home opens, that's how I secured my latest deal in a very hot market and well under market value.
Keep working it and keep networking, you do this enough something good is bound to happen
This is based on credible source: http://www.smartpropertyinvestment.com.au/opinion/14287-3-regions-with-potential-for-growth
What do you mean JH? Are you offering an extra $5-10K on top of the current median house/unit price for every property you find for sale in a particular suburb? I'm lost......how are you ascertaining fair price?
$50K above reserve isn't uncommon right now and in fact, may well be a solid buy compared to other recent sales, many of which have sold for many hundreds of thousands above their reserves. Take these for example:
http://www.realestate.com.au/property-house-nsw-baulkham+hills-119651007
sold $430K over reserve
http://www.dailytelegraph.com.au/re...ydney-remain-hot/story-fni0cly6-1227262369554
ranging up to $1.1m over reserve
Don't forget that reserves are set by vendors and just because something sells above (or below) doesn't make it a "crazy" (or great) buy necessarily. Assessment of fair value in the current marketplace for the particular property is what makes the difference.
Credible source?! I think Charles Tarbey has as about as much chance of forecasting and getting it "right" than all the other "experts" out there, SS members included
Good luck with your purchasing.
Just make sure you don't take all blogs and articles at face value. Just remember that some people have vested interests. Naturally someone in the head office of a real estate company would do all they can to encourage sales ...