Warren Buffet has a famous quote…

“Be fearful when others are greedy and be greedy when others are fearful.”

In this last five years, we all know that the Real Estate market has experienced an unbeatable price rise which is almost unheard of in history. During every open home we conducted we had 30 to 40 groups of people through with an average of 5 to 7 competing offers.

Now it has come to a transition period where things are starting to slow down a bit and buyers are being more logical and rational with their purchase decisions and actions.

Real Estate is a strong asset to hold onto from an investment perspective, therefore for those smart and wise buyers, we do think that it is a better time to buy when there is less competition around and there is no need to be fearful of the marketing crashing down.  If the market continued to remain the way it was before or if it goes up further, there will be more competition and of course the prices will go up again.

So, if you are buying in the current market, have confidence with your own finance situation. The suitability of a home to your personal needs and the comfort of paying a certain price should be your determining factors to consider, not the market condition.