In the last 3-5 years, there were a lot of new projects developed when the properties prices were "sky high". Now all these new developments are completed and handed over to owners. Many of these owners are actually speculators, they bought the properties to flip (to sell when it is completed) and make fast profits. At good times, I believe they can make at least 20-30% gain by flipping.
Given the times are not that good now, these speculators or flippers can either rent out the properties they bought, sell them out or hold. Holding without any returns is definitely not a good option. Renting out could be difficult due to competition and rental rate might not be good. So, many speculators want to sell their properties. Selling price might not be good also because many sellers.
So, it is a good time for buyers ...
Anyone know of where we can find properties like that?? It will be more helpful, if you can provide some info on prices vs a year ago or vs purchase price.
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