I talked to someone who just sold their Brisbane (Sunnybank)...

I talked to someone who just sold their Brisbane (Sunnybank) property for $299k....they said it was on the market 3 months ago @ $325k and they turned down 6-7 offers around $315k-$320k....

Around 2 months ago there were suddenly no bites, no interest at all. Even at $299k nobody seemed interested, until finally they found a buyer over the weekend. The buyer is getting every kind of inspection you can think of, and no doubt will bail if any problems arise.

The sellers were going to great effort to make sure the sale went through, which makes me think its a buyers market right now.

I stopped looking for property last year and thought I had missed the boom, but it looks as if there may be some panic selling coming out. Most investors think rates are about to skyrocket, but the U.S economy seems to be stalling and rates may stay low for another 24 months.

I would like to wait for mortgagee sales but I dont see it happening for 2-3 years.....