“Be fearful when others are greedy and be greedy only when others are fearful”. Quote by Warren Buffet
This famous quote by the genius and hugely successful stockbroker, Warren Buffett, sums up the right way of looking at the property market. In short, he’s saying to buy low and sell high. This may sound simple but as it’s human nature to get caught up in the excitement of a rising property market and to walk away in fear from great opportunities when it pulls back a little, it’s easier said than done.
This August, just like every August, we’re in the winter property slow down. The cold weather keeps people from inspecting properties but for those who do brave the property trail, for now, there are some great buys to be had. However, as spring nudges closer prices are likely to start rising again; add to that the Reserve Bank keeping interest rates on hold again for at least another month and the property market could soon take off!
In any market, bull or bear, the key to getting the right property that’ll give solid, long term growth is market knowledge and that’s where Empire’s experience comes in.
As Warren Buffett also said; “Price is what you pay. Value is what you get”.