CASH IS NOW THE KING
When stocks market is in the bearish mode, people and market guru often say that CASH IS THE KING. Same situation here, whoever has cash can rule the world. Many potential buyers are now putting in bid at very “low” prices. Potential buyers simply don’t care about sellers’ situation, and offer no sympathy, even when the sellers told them that they are currently in a heavy situation, family is sick, just fired from job, can’t pay a loan anymore, etc.
“In fact, the more you told them that you are in hard situation, the more they will “squeeze” your property price since they know that what you need is only a cash.” – property investors
Some agents believe potential buyers put a low bid price since they know current property market is weak and they have to be ready to face a worst scenario where property price stuck for longer than expected, that’s why they take into account this consideration when they put a bid. Anyway, for a buyer, current ample supply is an opportunity to press the seller since buyer is now have a “if you don’t want to sell, it’s okay, I could find other options, in fact there is a lot of choices for me” motto.
EVEN A SUICIDE PRICE ? REALLY ?