spoke to the devil, page-7

he is setting you up, so that you well quickly, and he gets his commissions fast...he des noit want to wait around the 60-90 odd days that some houses sit on the market, thats a long time for a commission..

did it spook you ...probably yes...
is it for real,
why is his crystal ball better than all the others...
lets see what the facts tell us...
the past year for eg; did prices drop 20-50% like all the bears here stated they would, thousands of times....
answer...no....
did prices drop 3%.....maybe, who knows...
did the top end stall....possibly....its usually that small market at the top end that slows first
did the lower priced properties make nice gains...go up in price....well some did go up by 30%+, others 10%
many more lower to middle range properties were sold, which affects the median price,,,,it goes lower...
so when the market is booming, there are many properties in the middle to high range which are sold, which makes the median price move higher,
the median is simply the middle number...in prices, its not the average price
all this during the world GFC, which began in 2007, most were not aware until mid 2008, then thought it was over by 2010...
but we are still in the middle of it... gfc mark2
add the political mess, to that problem....and there is zero confidence out there...
I say property has done remarkably well, considering the financial climate....and it will bounce back, after we get rid of the most incompetent govnut in our history...

as an aside,...most of the re agents I have to deal with, were all into shares back in 07, they were more intersted in the stockmarket, and their day job was just a boring side affect...
they squealed like the 3 little pigs, when the stockmarket fell, and caught most of them out, with their penny dreadfuls...
they have been depressed ever since then...the depression has affected their entire mood, and they are probably the biggest bears on property....
I asked one to give me a valuation back in 2008, he was selling all his properties, he had just lost half a mill on stocks, he was so depressed...he told me to sell, that property would be dead for 10 years....
he is gone now, dont know where...
and the particular market, is still selling the same number of houses per month, as it was pre 2007....
its not roaring along...just slow and steady...and more auctions than before, sale signs go up within a few weeks..
sellers have taken the opportunity to upgrade....put realistic prices on their houses, then took the opportunity to swap over in the same market....
interest rates are fine, in fact around the long term average...
those looking for their home, with good jobs, are out there in the market...
the other side to this, is all that money in refurbishing, and reno's....36 billion was the figure a couple of months ago...those people may have sold in a hot market, but they have decided to do the reno, whilst twiddling their thumbs, setting themselves up for an even better return, when the economy returns to the good times....

I note the kids have stopped eating out, hospitality is down 40%, even the kids have had to tighten the belt, learnt to cook, or bunkering down with mum and dad's home cooking....the kids just got a huge lesson, long over due, and it will be a good experience for them.....
most generations take a hit in some way, that brings them back to their senses....teaches a hard lesson, an unforgettable experience, that sets them up for a better future....
we all either had such an experience, or knew some one who had a hard time...
thats what makes the world go around....
cheers