I've completely changed my buying strategy since the budget.
How I bought eight months ago is completely wrong for the current market conditions.
Last year ~90% of my purchases were offmarket - I loved offline deal (less competition = higher chance of buying)
Now, offmarkets don't get me as excited cos a lot of competition has disappeared due to;
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policy changes
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adjusted strategies
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smsf buyer pool completely gone
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buyers who are rely on sentiment to feel confident
Instead, these days I'm lurking at online listings but I'm not rushing to make offers.
Properties are still selling but every so often a good property might sit a little longer and this could be for a number of reasons;
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no interest/offers received
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property isn't presented neatly or might need some work
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it's tenanted, maybe under market
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vendors price expectations were too high
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listing price was also too high to draw in buyer interest
This is the opportunity tbat gets me excited!
You see, a property listed online indicates a committed seller;
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they paid for marketing ($2-5K), maybe even styling (more $$)
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still paying the mortgage