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Correction round the corner-Buyers be happy

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Correction round the corner-Buyers be happy

Last updated: February 12 2011
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  • #11

    #11

    Re : Correction round the corner-Buyers be happy

    The Three Black Crows on Weekly Charts of Nifty Continues even today - the third day of the week -

    I know this is related to stock markets and thought it would interest everyone mods you can move it to coffee lounge if you like

    Rohit

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    • #12

      #12

      Re : Correction round the corner-Buyers be happy

      Correction in real estate? Prices might not increase for some or may go down by small margin. Long term real estate is the best investment

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      • #13

        #13

        Re : Correction round the corner-Buyers be happy

        Correction itself is a vague and relative term.

        5% means correction? or 10% or 15%?

        Say 20% is correction.... 20% of what price? Current price? 6 months back price? 1 year back price?

        If you talk about 20% correction from 2 years back price then unlikely.

        If you talk about 5% correction from current market price then probably possible..... then many people with good connection and bargaining power get 5-10% in any market.

        Realistically what we can expect is something called softening... where price will be more or less stagnant, there will be little transactions as both sides wait for the right opportunity.... there will be no or very few new launches .... until another price escalation.

        The above applies to most of the homes that a middle class people look for.... only adversely affected are those high end properties, there already there is a huge fat.

        Those firm believer in price crash please help me to get an apartment at Pari Chowk at 30% discount from current market price. To be more precise at 1820 psf rate or lower at NRI Residency or at 1505 at Todays Home. I don't mind upper floors, except the top floor.
        Last edited February 10 2011, 10:01 AM.

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        • #14

          #14

          Re : Correction round the corner-Buyers be happy

          Originally posted by gharondabhai View Post
          Correction itself is a vague and relative term.

          5% means correction? or 10% or 15%?

          Say 20% is correction.... 20% of what price? Current price? 6 months back price? 1 year back price?

          If you talk about 20% correction from 2 years back price then unlikely.

          If you talk about 5% correction from current market price then probably possible..... then many people with good connection and bargaining power get 5-10% in any market.

          Realistically what we can expect is something called softening... where price will be more or less stagnant, there will be little transactions as both sides wait for the right opportunity.... there will be no or very few new launches .... until another price escalation.

          The above applies to most of the homes that a middle class people look for.... only adversely affected are those high end properties, there already there is a huge fat.

          Those firm believer in price crash please help me to get an apartment at Pari Chowk at 30% discount from current market price. To be more precise at 1820 psf rate or lower at NRI Residency or at 1505 at Todays Home. I don't mind upper floors, except the top floor.
          Good one
          Basically correction is a psychological satisfaction. Those who have been waiting for corrections to come have still been waiting. Correction came and went. Those who decided to buy irrespective of correction have gone ahead and taken the plunge.

          The question is not who won or lost, its basically what one feels comfortable with.
          We always feel prices are high by 30%.
          MM

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          • #15

            #15

            Re : Correction round the corner-Buyers be happy

            During stagnation what happens is, there will be few more additional "distress sale" than usual.... now those people with ready cash + great network in the market + huge holding power + huge risk appetite will get those distress sale. You need to be like a vulture or simply sheer lucky to get to know those distress sale and then act before someone else acts..

            For normal buyer the difference will be, you will get more time to decide on your dream home. Your agent/builder will not push you to deal NOW, they will be more willing to listen to you and probably accommodate few additional things.... but you will have limited choices.

            I am not pessimist, I am just realistic.

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            • #16

              #16

              Re : Correction round the corner-Buyers be happy

              if correction sets in...then resale prices will be affected.....not not in launch prices in noida-gnoida region....dont expect a new launch at 1500 in greater noida extension...or 2500 at expressway....

              People who bought at 3000 and trying to resell at 3800 will suffer max....as they will have to come down a lot to sell....and this is where an end user can gain...

              I sincerely want a correction to set in.....all these brokerage companies have ruined the market for end users....its time end users get their homes at decent prices

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              • #17

                #17

                Re : Correction round the corner-Buyers be happy

                4th day of the week the 3 Black Crows still there on the Nifty weekly charts - Just one day to close the week - lets see what happens.

                Even today just by grace of God my stoploss of Nifty long did not hit at the low of Nifty Fut was 5210.xx and my stoploss was just below that.

                Rohit

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                • #18

                  #18

                  Re : Correction round the corner-Buyers be happy

                  Originally posted by gharondabhai View Post
                  During stagnation what happens is, there will be few more additional "distress sale" than usual.... now those people with ready cash + great network in the market + huge holding power + huge risk appetite will get those distress sale. You need to be like a vulture or simply sheer lucky to get to know those distress sale and then act before someone else acts..

                  For normal buyer the difference will be, you will get more time to decide on your dream home. Your agent/builder will not push you to deal NOW, they will be more willing to listen to you and probably accommodate few additional things.... but you will have limited choices.

                  I am not pessimist, I am just realistic.
                  My point of view is like this-
                  If u can afford it now, go for it. I dont see many avenues of investment. Banks are fleecing customers with high interest rates. howcome banks showing 30% profit yoy. stocks are back to last year levels, atleast my portfolio is
                  Keeping your money in bank means that u will keep spending it on food items and with a 17% inflation on food items u can expect your bank balance to be empty sooner than later.
                  Hence if u have the money put that in a property with good builder and a good location.
                  MM

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                  • #19

                    #19

                    Re : Correction round the corner-Buyers be happy

                    Originally posted by aashu4uiit
                    I don't think there will be big drop in prices as of now projects are being launched at 3000-4000 range in ggn and i think new project launches will not happen in case of price drops builders will delay the launches
                    Also builders slowdown their construction activities during a recession.
                    MM

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                    • #20

                      #20

                      Re : Correction round the corner-Buyers be happy

                      Originally posted by rohit_warren View Post
                      4th day of the week the 3 Black Crows still there on the Nifty weekly charts - Just one day to close the week - lets see what happens.

                      Even today just by grace of God my stoploss of Nifty long did not hit at the low of Nifty Fut was 5210.xx and my stoploss was just below that.

                      Rohit
                      Rohit,
                      You have a sound knowledge on stocks as i see.
                      I only know if the way stock market is going down, i will probably get back to 2009 levels and then will have to wait for another 2 yrs to get back into green.
                      btw my portfolio in stocks is less ~ 3% of my total networth.
                      MM

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