Grappler Deep State Feller wrote on Mar 23
rd, 2020 at 12:19pm:
Sir Spot of Borg wrote on Mar 23
rd, 2020 at 12:13pm:
I want to know whats going to happen with real estate. Are ppl still buying/selling?
Spot
I heard the market was tanking.. sort of like the ballast tanks in a submarine about to dive... hold on to your hats....
A place we are very interested in, but due to this catastrophe, we have shied away from doing any borrowing/bridging finance.
Whew, lucky or we would have been cactus to try and sell ours if we had signed up for anything.
We have pulled back and putting it all on hold.
In the meantime we will get our property ready for when the time comes.
The house we liked, has just dropped it’s price by $85,000 !
Which means all house prices will drop including ours.
Had we signed clad iron contract a few weeks ago, and settled in 2-3 months, Who knows how much our property would have fallen in price or if it could even sell due to all restrictions!
If anyone wanted to buy from interstate, to see it, they would have to self isolate 14 days first!
Then go back to their state, and self isolate again for another 14 days!
So real estate will hit a slump like everything.
My instinct says so.
And what essential services will be open for it?
Auctions are going online now.
Okay for properties already inspected.
How do people inspect homes on the market?
I heard, that inspection can take place but only not allowed to touch anything or open draws/cupboards.
But rules are changing by the minute so who knows the iron clad answer?
Cross the bridge when we come to it.
Hard choice - hold on to what you've got.... I commented to the ex that if I had the spare I'd be looking to buy shares as they go down... keep an eye on that prospect - it might work to your benefit.