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Market slow? Buyer Market! 5 advantages for buyers.

Market slow equal to buyer market and there is 5 advantages for buyers: bargain for more, attractive mortgage rate, more choices, bank also want to survive and developers giving more for less.
market slow, buyer market & 5 advantages for buyer

01

you can now bargain for more

The day I joined Real Estate is back to 2013, for the first case with co-Agency with Mr. “Y”, where the property market is hiking up and hot.

A very good luck to me for The First Week of work, after Mr. Y’s client viewed the 1.4mil a Terrace House in Jelutong area. Buyer counter offered for 1.3mil

Guess what happen? There is no chance to talk when owner heard the offer, no discussion at all.

It is “you want, you take it, don’t want? Just leave it.”

So… After couple weeks follow up by Mr. Y from the buyer side, there is no range of negotiation, I had been asked many times by Mr. Y until I don’t know how to answer.

But, silent might be the best answer too. So buyer has increase their offer to 1.35mil. Yup, I got my first sales with RM 1.36mil.

When market is hot, it’s very normal for owner to bang off your call if we asked for discount, but for now when market is slow we actually can bargain for more and owner is most likely be nice with you.

It is now only from owner ya, even from some developer, they also giving out better discount especially after MCO recently.

Want to know about good deal? Feel free to WhatsApp me.

02

attractive mortgage rates

Attractive mortgage rates really make a big difference that encourage home seeker to purchase their home recently. When mortgage rates are low, borrowers will have lower monthly instalment and this is why they could afford to purchase now.

For example, my customer who failed to purchase Eco Bloom with me last year vs this year, it’s become ok to purchase this year.

The different,
In 2019 he disqualified for loan amount RM 350,000 by 35 years at 3.9% mortgage rate and the instalment is RM 1,528 per month.

In 2020 he then qualified for loan amount RM 350,000 by 35 years at 3.2% mortgage rate and the instalment is RM 1,386 per month.

Decreased mortgage rates give property buyers more purchasing power, as a result, the demand will increased and this is what happening now.

Especially to me who are in the selling of Eco Bloom, now with affordability of buying a flat actually could own a dream home project from EcoWorld | Creating Tomorrow and Beyond.

Would to own a unit with Luxury British Theme condo like owning a mid-cost flat commitment? Quickly WhatsApp me to book one of the selling fast unit.

03

more choices

Choices are more, with the same budget, now you could get a lot of more choices. From new launches, newly completed project, secondary market or even auction properties. Now there is it is.

One of the project I am selling now, it’s even cheaper than last time I bought on last November in 2019. A luxury English Theme Condo located @ Simpang Ampat start from RM 330,000 now. The monthly instalment from only RM 12xx

And then, Idaman Iris a unit come with two car park selling only RM 380,000 where during the peak it sold for RM 450,000 and this record in brickz.my

Yeah, demand is slow now, and you could have a lot more choices with your existing budget. Example for RM 450,00 to buy Idaman Iris, now is easily have more than 10 choices for you to get a 2 car park unit.

But, we need to understand too, where the price came down to RM 380,000

It is only one reason simply because not all the owners having issue with their holding power.

When the price selling at “demand price” with further encouragement by government latest policy, let’s understand little bit more about Market Activity Movements 2019

04

bank also wants to survive

In fact, banks would love to lend and this is how they earn profits.

However, they are more willing to provide loans to borrowers who seem to be able to pay.

Now, it is more difficult to obtain good customers, and some banks are certainly doing more work to attract customers.

In other hand, rejection rate is actually low instead, bank is actually approved for lower margin if customer commitment is high. It is APPROVED

But to customer who got lower margin loan and unable to take out the additional cash of 10% to 20% would usually seek for rejection letter. It is REJECTED.

 

05

developers giving more for less

zero downpayment

No habit of saving? Don’t be afraid, houses can be a great tool for us to develop savings habits. In long term, it is also a great tools to hedge against inflation. 

higher cash rebate

Headache for renovation cost? Now the package included luxury fitted cash rebate for us to have our dream home easier. Or Utilise it wisely to even better one.

all included package

Worry about expensive legal fee? Now we can get all fee included and just RM 1,000 booking fee or even there is package start with RM 100 to own a house.

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