Extremely low interest rates, few properties for sale and me promoting the business of real estate too hard has resulted in a hot market that I don’t really fancy buying in. A good and simple rule to live by if you want to make the most of your real estate deals is to buy when nobody else wants to. During these times you usually win potential biddings at 20-30 percent below the realtors suggested price. When the market is hot, like now, you end up paying 20-30 percent above the realtors suggested price for the given property.
At my local market, there are very few properties for sale. Look at the yellow line that ends half way in the image below. That line represents the amount of houses for sale this year compares to earlier years. As you can see it’s considerably less.. That, plus the fact that there are more people that wants to and can afford to buy real estate makes for high prices. I don’t fancy high prices. I fancy bargains..