Time to Buy? Or, Wait for Bottom?

Discussion in 'Buying Overseas Property' started by Olly, Nov 24, 2008.

  1. Olly

    Olly New Member

    Despite very natural attempts by Agents keen to remain in business, the public is very aware most markets are in decline and, those which aren’t quite yet, will soon join the majority.

    So, it would be very interesting to hear more from one-off buyers & seasoned investors (agents time to read only) how they plan (if they plan at all) to monitor markets and what ‘facts’ agents could supply on a regular basis to help stimulate future buys.

    Equally, what is available now and what might be soon on the mortgage front to provide a practical life-line to support new buys? And, what about positive investments to increase deposits for would-be buyers in 2009/2010?

    I’ve already found an FSA approved, capital secure option which provides circa 5% per month or 80% p.a. If anyone knows of others, let’s spread the word and raise the positive awareness factors to ensure we’re all ready to buy again at the appropriate moment.

    Thoughts, comments on the facts buyers & investors need to be brought back to the purchase table. Let’s ramp up the positive facts (NOT Agent promise, please!!!).

  2. Korykos Hill

    Korykos Hill Banned

    IN my opinion, it s the time to invest. Because the prices are going down ( aldready decreased %25-30) , the payment conditions are more flexiable. And i think its better than keeping your savings in the banks nowadays. just invest in a project , wait for 2-3 years then sell&leave it.

    look for example we are developer company in Turkey. we are selling our projects for only foreigners. it is really interesting project. but we needed to make promotion. the problem is not about the finance. The point is we want to see the future a little bit clear than now. Thats why we are making promotions.

    So it is right time to buy!!!


    Last edited: Nov 24, 2008
  3. Veronica

    Veronica Administrator

    You've confused me.
    You say in one breath its better to keep your money in the banks and in the next breath you say its the time to buy.
  4. Korykos Hill

    Korykos Hill Banned

    sorry i made a mistake , now its corrected ;)
  5. Olly

    Olly New Member

    Korykos Hill, Hello

    Sadly you've missed the point of this Post. Of course you think it is best to invest in your properties right now. I'm not looking for Agents/Developers views. Looking for Individual Buyers & Investors views on the markets and what FACTS You & others can provide to support your case 'for' or 'against' buying now or later.

    Simply telling everyyone you have a lovely development and it'll be better than placing your money in the Bank (I agree) is not going to answer the question. Besides, as I've stated, I can already place my funds securely elsewhere and receive 80% per annum. Can you 'guarantee' anywhere near this level of return over the next 12 months? Or, is there a greater risk your properties will also fall in value?

    Hope you better understand what the question is seeking and from whom it's sought from? Individuals, not companies with vested interests.

    Very best regards.

  6. rowlandsbb

    rowlandsbb New Member

    2009 may be a good time if you buy good location
    Only God knows when we hit bottom........but for medium to long term some good buys in Spain just now.....and the life style is just as a good as it ever was

    Interest you get on cash will go down quite low in 2009 if we hit base rates of 1 1/2 or 2 % and people will start to look at property as a better return
    Buying at 2009 prices and taking a medium to long term view in a good location will I suspect give a better return.....at least a good property is tangible, can be used and enjoyed!
  7. BellaVistaGroup

    BellaVistaGroup New Member

    Invest. Invest. Invest. Do you know how many people made millions off the last great depression because they invested when others pulled out. It's a great idea and a great time to have some cash laying around.
  8. Robert Davies

    Robert Davies New Member

    now or never

    Hi Olly

    Having lived through two recessions already, it wasn't too difficult to begin to see when it was a time to invest and a time to stand still. I completely agree that in the year/s to come, there will be a lot of unfortunate people and a lot of people ready to take an advantage, but hey that’s life. I did invest in Italy ( Calabria ) in 2007 despite seeing all the warning signs that would tell a person to hold back and wait for the prices to drop. However this was not so much as an investment with mind and wallet but one of the heart. I feel that in this year to come a lot more people then you would think will take the plunge and invest in a property aboard particularly if it's a regain that they already know and love as opposed to 'the latest and greatest investment opportunity'. I also feel that many more people will do as I did and use the services of a local agent (one who lives there) for the purchase, furniture, rentals and management as opposed to the type of companies we have all come across in the last few years, who in one sense have brought investments to the doors of the everyday person in the street but has also I believe been somewhat responsible for bringing the fuel for this latest economic meltdown.

    All the best


  9. rowlandsbb

    rowlandsbb New Member

    So you are a life style buyer and good luck to you...I'm sure that in the years to come you will look back and see that you made a good buy and in the meantime had a lot of enjoyment

    As no one knows when the bottom of any market is reached until afterwards, life style buyers in 2009 will know that they are buying in a recession market and will be able to find a good buy in a good location
    Money follows quality in these times and not all owners of the best properties have or want to sell but some do and this is where you find the good buys
    Properties with the biggest discounts or best offers are not always good buys!!!!!

    We do now live in the internet age and and after this recession is over sourcing/buying from an internet based agent will increase as will the purchase of many other services:- heard today that a buyer of a property on Polaris World Condado Resort was able to arrange their mortgage on the internet with a Spanish bank in 15 mins and at much less cost than a bricks and mortar source!
    Local agents will of course still survive but they will need to have a internet based presence as well
    In UK today circa 75% of residential buyers source the one they buy on the internet and the same I suspect will happen for overseas properties....I understand that surveys now say it is circa 30% already
    Naturally a web based agent has to have representatives on the ground but not on the high street!
  10. loai

    loai New Member

    Its not the time, never was...
    its all about the property u purchase, there are always good deals,, just more now , thats if your looking long term.. prices go up and down, but mostly up... so its never a bad time.....
  11. MovingSoon

    MovingSoon New Member

    I'm an individual buyer and I think now IS the time to buy.
    You never know when the bottom is going to hit and there are great bargains now.

    I learned a long time ago - you make your money when you buy, not when you sell.
  12. markgoodwin

    markgoodwin New Member

    A Bell Doesn´t Ring When The Market Hits Bottom

    My personal opinion (for what its worth) is another 10% drop in prices by the end of ´09, stability in 2010 and 1-2% growth in 2011.
  13. mickthepropertyguru

    mickthepropertyguru New Member

    Cash is king. Experienced investors should be able to purchase properties with discounts of 50%, 60% and more. The power is firmly in the hands of the investor and people that can purchase without a mortgage stand to make good gains over the next 7 or more years. Even is the Markets value is at £xxx after dropping 40%, you would be crazy to buy at that price. Cash is king.
  14. Tangier

    Tangier Member

    Let me tell you i am a big time invester and i am holding on i have not invested for over 8 months....as the bank of England said its going to last 10 yrs i am now looking back in the UK and spain..........if you buy now its going to be locked away for 6-10yrs

    good luck
  15. condosukhumvit

    condosukhumvit New Member

    if u like the place, price and other aspect, then i think u sud just invest, else u'll regret when the price bounce back up unexpectedly
  16. Gene Genie

    Gene Genie New Member

    Just 6 - 10 years? With a black hole in the banks yet to be plumbed and uncertainty over governemnt moves to sort the illegal house problem it's surely a time to rent!
  17. CSQTownPlanner

    CSQTownPlanner New Member

    I think it’s a right time for invest. Hey Rowlandsbb I'm also sure that in the years to come we will look back and see that we made a good buy.
  18. RKnight

    RKnight New Member

    I agree with an earlier poster that it is not completely about the time. It is always a good idea to invest, there will always be great deals about but at times, you have to search a lot harder for the great deals.

    who can truly predict when things will bottom out?If you buy at a great discounted price at the start then there is room for prices to fall some before you take a hit. Also, make sure the yield suits you if you have to rent it out while you wait for the market to pick up.
  19. CSQTownPlanner

    CSQTownPlanner New Member

    According to latest news home prices are down and new-home sales are at record lows. All this dismal news has many buyers sitting on the sidelines, afraid to make a move. But, economists say, waiting for the bottom may not be the smartest strategy.
  20. Russwrites

    Russwrites New Member

    Interesting comments in this thread as it is now a couple of years later and in most countries the prices are still falling or the market is flat!
  21. Laeeqahmad

    Laeeqahmad New Member

    Different aspects to the problem

    Both the aspects : the economic trend and the type of property are right. Investing in property depends on one's personal choice. It is true that market in coming times will not be good but it depends on the needs of a person whether to invest or not. I have over 10 yrs of experience in Toronto and I can be a great assistant to those looking for a new home or to invest in a property. Laeeque Ahmad

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