Is slow market an opportunity for buyers?

Magicbricks.com Moderator says: Public sector banks have slashed home loan interest rates. Loans up to Rs20 lakh will now be available at 8.5-9.25 per cent a year for tenures up to 20 years. This, and similar other sops are expected to spark some activity in the current market scenario. Real estate developers are doling out lucrative offers to rope in buyers.

Do you think these measures will lure more buyers? Also, is slow market an opportunity for buyers to bargain?

Share your views in the ‘comments’ section.

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Comments

[Condos]

It is important to make your offer as straightforward as possible. Be proactive about showing the seller your desire and ability to close. Unless there is a strong seller's market, buyers usually offer less than list price. Establish your price by a market analysis. It is usually counter-productive to offer so low that the seller will automatically reject the offer. This will set a negative tone from the beginning.

[Lakshmi Narasimhan]

Waiting for long-time or right time may be risky; but how a 20L loan is about 18-22k per month and in this market conditions (job uncertainity in Services sector) why will someone take this risk? instead i will play by paying rent for sometime and once assured of the macro-economic situations will think of buying - probably i will be paying 25% more but that is the hedge for not defaulting or preclosing

[mukesh ranjan]

This is not the right time to buy property, rates will come down more approx 20% within 2 months, so buyers should wait little more for golden opportunity.

[prakash]

Well Everyone is aware that real estate has come down drastically in bangalore and all over. and since the public sector banks giving loans upto 20laks max and the property value in bangalore is much higher we cant expect good buyers.

[Ravindra Tendle]

Hello,

Hello,

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Thanks and Regards,
Ravindra Tendle
Mob:- 9324060720

[home loans]

Great point. In this slow market, there may be bargains that come off market. Buyers should remember that a property might still be available even if it isn't listed.

[Quraish Khan (Prime Realtors)]

As per the market situation it is the right time to buy or rent in properties as the prices have already come down due recession. Waiting for long may be risky as prices may start getting higher also if the market starts improving...... so this is the best time to invest in properties...