Friday, June 28, 2013
To Market To Market ???!!
A question I am asked all the time is "How is the Market?"
The second most asked question is "When should I put my house on the Market?"
My answer to both is pretty much the same - the market is the market - if you are buying and selling in the same market it doesn't matter.
Recently I have had three instances where clients have told me they want to purchase in one of our coastal regions - where sales have been a little flatter than usual for a while - but they want to wait until the market here picks up so they can make money on their homes.
But it is like buying a new car - you take in your old car and want premium money for it and you want a discount on the new one - as anyone who has bought a car knows it just doesn't happen like that.
What you need to look at is how far the market has come down in the area you are selling in and the area you are buying in - in the particular market these people want to buy in the market has dropped 23% - the market they are selling in has dropped 18 %.
I managed to get the message through to two of them and they are now moving ahead with their lives but the third one is doggedly holding out for the dream price - even though that figure may be four years away - by which time the market they want to get into will have shifted up and probably moved out of their price range.
So the simple answer is this - don't worry about what the market is "doing" - if it is time to sell then sell - 30% of the population is on the move regardless of GFCs, mining taxes or elections - if they weren't real estate agents would have loads more time off than they do.
If you want to know more call me for a Real Chat...