Cathay Pacific job cuts will hit Hong Kong housing market axed pilots, cabin crew move away or downsize

Cathay Pacific job cuts will hit Hong Kong housing market axed pilots, cabin crew move away or downsize
https://www.scmp.com/business/article/3106631/cathay-pacific-job-cuts-will-hit-hong-kong-housing-market-axed-pilots

Qantas on Thursday 25 June 2020 announced at least 6,000 employees will be laid off and another 15,000 will remain on furlough, due to economic conditions linked to the COVID-19 crisis.

Many of the skilled workers are not easy to find another similar employment, especially in the aviation imdustry. Their skills may be traferrable, but the post pandemic economy will also have to accommodate those previously retrenched workers of the same industries, and likely preference is given to those with prior experience first.

Loss of employment is going to be a trigger for the future downturn in the rental market.

Thank you for reading.

Cathay Pacific job cuts will hit Hong Kong housing market axed pilots, cabin crew move away or downsize

Local family snaps up $2m Kensington house after it passes in

Local family snaps up $2m Kensington house after it passes in
https://www.domain.com.au/news/melbourne-auctions-local-family-snaps-up-2m-kensington-house-after-it-passed-in-999086/

Would you pay that much after the property was passed in?

Many people do not move out of their suburbs, or return to the suburbs they once lived in.

It is important for real estate agents to letter box drop not just to get more listing from the neighbourhood, but also let the neighbours know of the property in the market should they want to upsize or downsize. These neighbours may also let their friends or relatives know of the property is available so that can move close to them.

Most sellers treat their houses as castles, and therefore it is not advisable to ask the opinion of people in the neighbourhood to estimate the price of the property close by. The price is likely to be inflated.

Thank you for reading.

Local family snaps up $2m Kensington house after it passes in

Our empty CBD apartment blocks and what it’s like to live there

Our empty CBD apartment blocks and what it’s like to live there

I have issued warnings again and again to be careful about over commitment, especially those brain-washed negative gearing followers. I have met people who only believe in owning high end investment properties because of higher rental income, but not necessarily higher return.

This pandemic is a reality check for the reckless investors who have been deafened by just hearsay and convinced by snake oil salespeople.

High rise and high density living dwellers are likely to experience depression more than many suburban counterpart.

I predict the new post COVID-19 normal life at the suburbs will not suffer as much as Melbourne and Sydney CBD where many high rise apartments dominate the skyline. Without the presence of tens of thousands international students, demand of accommodation will not recover, neither will the traders who rely on their business.

I am glad I chose to live in the suburb long time ago, even though I had to rely on public transport. Later, I also tried to find employment near home or workplaces that were against the general traffic flow to-and-fro.

If you have a choice, think of fresh air, ale=nd your own space to move about out side your home.

Thank you for reading.

Our empty CBD apartment blocks and what it’s like to live there

No negotiations: How Simon scored an investment property at the right price

No negotiations: How Simon scored an investment property at the right price
https://www.domain.com.au/advice/no-negotiations-how-simon-scored-an-investment-property-at-the-right-price-987400/

It may not be the buyer was good in negotiating, but the the agent could have done a better job in getting the price for the owner. There is another possibility that the asking price was unreasonably high.

During my active days as a vendor advocate, I worked with agents to market properties, and achieved final sale price thousands of dollars above the appraised values by other agents.

A client’s property was appraised by three agents, and I chose the one that appraised it $100,000 above the lowest one. It was not the high price that I based my decision on to engage agent, but his positive attitude and his confidence.

Quite a number of years ago, my brother-in-law engaged me to sell his investment property. It was appraised by another two other agents at about $350,000 then. I chose an agent who got a tick after my usual 30 to 45 minutes interview. She sold it for close to $412,000.

I never disclosed the price I had in mind, but I worked those agents very hard, or shall I say I worked along side with them, keeping tab of OFI and adjusting the marketing strategies if necessary.

One of my approach is never let my client meet the marketing agent, and I took over all the communication and negotiation. The owners were “transparent” and unknown to the agent.

When I sold my block of land, I interviewed three agents to appraise it. I finally came out with rather unrealistic price, and asked the agents how they would market it to achieve my price. I chose a young an enthusiastic agent representative to do the honour.

The rep worked very hard on the listing, but for some unknown reasons he left the company before he sold it. A new comer filled his position. She was working with another agency which was unsuccessful to get my listing. She followed up the lead and finally close pd the deal, another $5k about the asking price, or $55k above what was appraised by all the agents.

Marketing properties needs a lot of skill, especially during difficult time like now or normal downturn.

Remember, marketing technique means selling what people want to buy, not what the owner wants to sell.

Thank you for reading.

No negotiations: How Simon scored an investment property at the right price

Melbourne and Sydney house values tumble through September

Melbourne and Sydney house values tumble through September
https://www.theage.com.au/politics/federal/melbourne-and-sydney-house-values-tumble-through-september-20201001-p560w2.html

Data don’t lie, but those misinterpret or use for own special interest do. With so few houses in the market for sale and purchase, the sample size is too small to make any sense.

Why should anyone want to take the trouble to sell or sell at a lower price? Very likely these owners are either in need of money, or their investment property is NOT generating income.

Mortgage stress is very real, and therefore be very careful if your own a property, especially your first home. Make sure you have enough backup income to keep you afloat in case you or your family bread winner become unemployed.

Thank you for reading.

Melbourne and Sydney house values tumble through September