Depends how long it has been on market for and how much the vendor wants to sell? Do you know these variables?
I personally would not go back. Let the agent and the vendor sweat it out and do not answer the agent calls. Give no information and do not budge and see if it goes cold or a reduced number comes in at 280k or 290k!
Market sentiment has now changed and i could not care less what bulls are saying the market is only going in one direction in most parts of australia and that is down!
Oversupply, income ratios out of kilter, vacancy rates increasing, borrowing harder to get, disposable income stretched at household level etc etc.
This will be a slow deflation over the next 2-3 years and regardless of what the RBA does the funding offshore is going to be the key for the major banks and what the costs rises of that will be. Double whammy if RBA does lower rates as the oz dollar will decrease even further and make funding pressures greater!! Damned if they do, damned if they dont scenario at present!!
