Ep.29 What the fear of overpaying is all about
This week, we talk about a more recent phenomenon in the Sydney property market, the fear of overpaying (or FOOP!).
Michelle gives a brief history lesson on the change from the fear of missing out (FOMO) a few years ago to the complete pendulum swing to where we are today.
HERE’S WHAT YOU’LL LEARN FROM TODAY’S EPISODE:
The dramatic change from a vendor’s market to a buyer’s market;
How properties that aren’t absolute stars are being left on the market for longer;
Buyers taking the blinkers off and realising they hold more power;
How constant media articles and news are changing expectations;
Why an experienced real estate agent is essential to manage vendors and what they can achieve;
Why off-market properties seem to be popping up more and more;
The width between buyers and sellers expectations;
Continuing to look at comparables, square metre-age cost;
Why it can still be right to purchase now rather than rent for an additional 12 months;
Cost in vs value out;
Why it’s important not to use the selling agent to help you bid at auction; And
Getting as many facts as possible to make a smart purchase decision.
SPEAKERS IN TODAY’S EPISODE:
Michelle May - Sydney Buyers Agent
Marcus Roberts - Mortgage Broker
ASK US ANYTHING!
Have a money question you want us to answer? ask@sydneypropertyinsider.com.au
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Please note that any views or opinions presented in this podcast are solely those of the speakers, and do not necessarily represent those of any business. These views and opinions are general in nature, and do not take account of your personal objectives, financial situation and needs. Please consider whether it applies in your circumstances and seek professional advice wherever appropriate.