Understandably, those investors who can still buy property are looking for a bargain. That is perfectly normal and sensible - after all it is a buyers market at the moment and there is lots of choice out there. Those investors that are going to do well are going to be those who buy the right property in the right area at the right price and sell on at the peak when prices are at their highest. The lower the initial purchase price, the higher the capital gain when they sell. The theory is not rocket science even though actually putting it into practice, predicting the timing and getting the prices right is not always as straight forward as it might seem with the benefit of hindsight.

I still see a huge number of people selling properties at Below Market Value. I have to confess that this is a phrase that winds me up. And the reason is that most properties being marketed as BMV arent actually Below Market Value at all.

What is generally meant by BMV is that the property is being sold at less than it was at its peak or we actually believe that the property is worth more than this but cant find a buyer at that price so we are having to drop the price until we find a buyer.

Neither of these things makes that property a BMV. The value of a property is simply what somebody is willing to pay for it and it doesnt matter what the seller thinks it is worth. It also doesnt matter what the value was a year ago and it doesnt matter that somebody says it is BMV.