Construction won’t be completed until late 2009, but Stockland’s “Village†apartment complex at Balgowlah in Sydney is proving to be popular with buyers. Get in touch with the developers and you’ll receive a showbag full of goodies, but it’ll cost you $10,000.
According to a survey here in Australia, vendors are still reluctant to lower their selling price, even though the real estate market has radically changed. Prices are dropping or staying steady, yet vendors continue to hold out for top dollar. Perhaps their actions are justified. The same survey also found that 33 per cent of …
There’s a great article over at Domain with a few key pieces of advice on how to sell your home in a buyer’s market. The article goes into some detail, but here are the key points: Make sure your real estate agent is actively contacting potential buyers. Be flexible regarding inspection times. Make sure your …
I was having a chat with a homeowner this afternoon, and he was talking about the low clearance rates at auctions at present. His real estate agent was trying to convince him to go to auction, but he didn’t think it was the best course of action at present. According to the owner, properties like …
There was just a short item on last night’s television news, so I don’t have many details about it just yet, but yesterday a home in Sydney was successfully sold via an online auction. Video footage of the auctioneer was beamed over the internet, with people submitting bids in real time without actually being at …
Over in the mighty USA, there is so much concern about property values dropping that some new home builders and developers are actually providing a guarantee that the value of the home will not drop. In some situations this guarantee against falling prices can last for a year, two years, or more. Bizarre, but true. …
How does a real estate agent sell residential property in a tough market? Put a whole lotta effort into really, really, really good marketing. Market that property until you can market no more. I was chatting with an agent today and he mentioned that some agents have been cutting back on their marketing in what …
Property prices are steadying or dropping. There are a lot of homes on the market but they’re moving slowly. Potential buyers are slow to act and as picky as you can be. Yep, it’s a buyers’ market alright. One agent mentioned to me today that she’s seeing vendors accept offers on the condition of sale …
It used to be second only to Sydney on the don’t-even-think-about-buying-here list, but things have changed around Australia and now Melbourne is cheaper than Brisbane and Perth. According to The Age newspaper, this is contributing to a mini boom in new arrivals to Melbourne, as people pack it in from elsewhere and head to the …
It had to happen eventually. After 20% growth last year, this year looks like a return to normal, with the median house price rising by just 2% between December ’07 and March ’08 (source: Australian Property Monitors). Apartment prices actually dropped 2%, possibly caused by investors pulling out of the market. I heard someone say …