Buy when there is blood on the streets. In real estate, especially in Hyderabad the year was 2009.
Just observe people, when real estate is on everybody's menu at a social gathering including the drivers and house maids, then is the time to run and lock your money somewhere else.
We are in October 2013, and Gold is almost at a multiyear low, the newspapers don't talk about it and all the gold shops are deserted but look at Sept Oct 2012, gold was at all time high, the newspapers carried all time highs on front pages but the gold bazaars were full of people and then came the crash and in dollar terms the gold remains at the lowest price till date. But, nobody is talking about buying gold now. This is how the housing market also behaves, I see a big scare coming back in 2017 - be ready.
Also, try visiting at least 25 properties before you make an offer for 4 of them. Please don't hesitate to quote a really low price, you never know how low the seller can go. I guess only 1 or 2 will be accepted. Never hurry, take your time, build up pressure on the seller by maintain long pauses in negotiations. You will land a good deal.
P.S. - Also, May 2014 may produce a short term opportunity but I am not sure. Make a note of all projects that might be ready to move by May 2014 and start visiting them with a target to open negotiations after May 2014.
Just observe people, when real estate is on everybody's menu at a social gathering including the drivers and house maids, then is the time to run and lock your money somewhere else.
We are in October 2013, and Gold is almost at a multiyear low, the newspapers don't talk about it and all the gold shops are deserted but look at Sept Oct 2012, gold was at all time high, the newspapers carried all time highs on front pages but the gold bazaars were full of people and then came the crash and in dollar terms the gold remains at the lowest price till date. But, nobody is talking about buying gold now. This is how the housing market also behaves, I see a big scare coming back in 2017 - be ready.
Also, try visiting at least 25 properties before you make an offer for 4 of them. Please don't hesitate to quote a really low price, you never know how low the seller can go. I guess only 1 or 2 will be accepted. Never hurry, take your time, build up pressure on the seller by maintain long pauses in negotiations. You will land a good deal.
P.S. - Also, May 2014 may produce a short term opportunity but I am not sure. Make a note of all projects that might be ready to move by May 2014 and start visiting them with a target to open negotiations after May 2014.
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