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Selling Season vs Silly Season

At this time of year buyers have one foot already in the pool, winding down for the Christmas and New Year holidays so it is a seriously committed buyer who attends open houses in the weeks prior to Christmas day.

Image from sellmycastle.com.au

Image from sellmycastle.com.au

There are also Christmas parties to attend, hangovers to recover from and Christmas shopping to be done, all leading to a drop in open house attendance in December.

This year most solicitors are trying to wrap things up for Friday 19th December so this weekend is an important auction weekend.

If you are planning on selling in early 2015 remove any Christmas decorations from the house prior to photos being taken otherwise buyers will think you have been on the market longer than you have.

January is usually a quieter month for real estate but sellers have less competition and there are still buyers around. With less properties for sale in 2014 there might be still a committed group of buyers looking for a home in January 2015.

Image from realestate.com.au

Image from realestate.com.au

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Great Time To Buy

soldhouseIt’s a great time to buy real estate, right now

Now you wouldn’t have heard this from me a month ago and you probably won’t hear this from me in a month’s time but, today, this week, and this weekend, if you are in the position to buy a property then go out there and give it your best shot. ASAP.

The property market in Sydney has been going crazy and prices have increased dramatically in this first half of the year but several, very recent factors are coming into play right now which have created a little pocket of opportunity for buyers.

10348231_10152459011644312_7862929635639049698_nHave you noticed that the auction clearance rates have dropped significantly in the last 3 weeks?  It won’t last and let’s face it, the clearance rate is still quite good compared to previous years. It’s a short term phenomenon.

The things that have changed in the last few weeks:

Firstly and possibly most importantly buyers who have been looking this year and have been thus far unsuccessful are now jaded, tired, fed up, cranky and many have taken a month off to refresh, i.e. they are not going to open houses, instead they have decided to take a real estate break and get their lives back for a few weeks, gone away for a weekend, gone to see the kids play soccer etc instead of going from one open house to the next, all day Saturday.

1911606_10152289518374312_646615506_nSecondly, the media has now been reporting for a few months that things have been selling for $100,000, $200,000, $300,000 in excess of the reserve and painting the picture that buyers will pay whatever to get into the market. The media is usually several months behind reality too but buyers have started to feel completely ripped off and are taking a step back to consider what they are paying.

1264281_10151917506959312_1923611023_oThirdly, vendors expectations have been going up and up and up as each sale achieves a new benchmark sale price.

Fourthly, the budget announcement, again this is just short term jitters but it’s to do with confidence, confidence in the economy, in our government, in securing employment to keep paying that mortgage.

So now is not the time to give up, some vendors have bought and need to sell so they must quickly meet market expectations, the budget will iron itself out and buyer confidence will be back. Then you will be again competing with too many buyers and not enough sellers as is normally the case in the winter months in a great market. So, don’t stop looking now buyers, get out there and secure that property before it’s on the move again, and I think you only have a couple of weeks! Good luck!

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