I have been selling real estate for nearly 20 years and am in the top echelon of sellers for my organisation.I am privileged to have, as long term clients, many investors who have a professional awareness of their business and who know and abide by their legal obligations.They treat me with civility, politeness and respect, as I do them.
I have seen the property cycles come and go.Along with each cycle,many new investors fall by the wayside,often because they are impatient,make bad choices,are inexperienced,and fall for get rich quick schemes.
They do not really have a feel for when to buy and sell.They cannot see the road ahead.
Among my listings for this week are 3 residential properties from investors who are facing foreclosures for differing reasons.They are all clients that have dealt with me several times, over many years.They know that, for them, NOW is the time to Sell,even though one of them will be lucky to retrieve their purchase price of 8 months ago.
I think that these vendors are making wise decisions to quit now; they know what is best for them.They know that the market will not improve and that come Spring when a flood of listings occurs,market prices will collapse. The signs are there now.And they know that prices will stay down for a long time,taking property investment back to its original basis of being an excellent long term investment.
Property has become overvalued in NZ.It will fall, is falling, and many of the "new" investors who have bought within the last 4 years will be confronted with a severe plight.I am fielding calls and visits daily from such people,seeking my opinion on the current market.They bought seeking capital gain;some are facing big capital loss.And buyers are very thin on the ground.Waiting, waiting....
You need to know when.
I have seen the property cycles come and go.Along with each cycle,many new investors fall by the wayside,often because they are impatient,make bad choices,are inexperienced,and fall for get rich quick schemes.
They do not really have a feel for when to buy and sell.They cannot see the road ahead.
Among my listings for this week are 3 residential properties from investors who are facing foreclosures for differing reasons.They are all clients that have dealt with me several times, over many years.They know that, for them, NOW is the time to Sell,even though one of them will be lucky to retrieve their purchase price of 8 months ago.
I think that these vendors are making wise decisions to quit now; they know what is best for them.They know that the market will not improve and that come Spring when a flood of listings occurs,market prices will collapse. The signs are there now.And they know that prices will stay down for a long time,taking property investment back to its original basis of being an excellent long term investment.
Property has become overvalued in NZ.It will fall, is falling, and many of the "new" investors who have bought within the last 4 years will be confronted with a severe plight.I am fielding calls and visits daily from such people,seeking my opinion on the current market.They bought seeking capital gain;some are facing big capital loss.And buyers are very thin on the ground.Waiting, waiting....
You need to know when.
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