Post to Facebook on 5/7/2018 at 10:24 AM
Commenting on “‘Buyers have the upper hand’: Cold Melbourne weather leads to lukewarm auctions”
https://www.domain.com.au/news/buyers-have-the-upper-hand-cold-melbourne-weather-leads-to-lukewarm-auctions-20180701-h123m1-442361/
Once again, report has it that buyers have the upper hand at auctions. The adjusted auction result for Melbourne for last weekend was slightly more than 50%.
It is close to one and three quarters years when the real estate hype started to fizzle out. For those who were not ready to let go their properties for various reasons just missed out having the extra thousands or even tens of thousands in their bank account.
Timing is everything, whether you are in the market buying or selling. The best strategy to adopt is to “buy low, sell high”. However, it is easier said than done. On hind sight, everyone can be an expert, but in reality, such strategy is extremely difficult to implement.
Such strategy does not only apply to the property market, but also other form of investments such as shares. Unlike the share market, property trading has a much longer lead time and generally costs a lot more for each parcel for the ordinary participants.
It is easier for me to make predictions of real estate market than share market, because I Real Estate is my passion, and there is always sufficient time for me to analyse the market and respond to it.
A home owner does not behave like a property invesror. When a home owner sells his home, he needs another place to live in, whether it is another dwelling including an apartment, retirement village or aged care home. They need to finance the next move, while an investor have more options - to hang on to the sale money, invest locally, interstate or overseas, or buy land. The urgency between the home owner and an investor is also very different as well.
Some properties can be in the market for months, some get snapped up in hours. The former are overpriced properties and they do not meet market expectation. Some of these vendors may not need the money that desperately, or they paid too much at peak time and want to recoup what they had paid.
During real estate hot market, buyers are out of their mind and pay extra in fear of missing out, and stupidly bragging about their purchase.
I did not like to take charge of open-for-inspection during cold wintry days, especially in houses with poor lighting and had no heating. It made me feel miserable, and unmotivated. It is true that many people including house hunters would stay home or go to a shopping centre to enjoy the comfort of a warm environment.
If you always think differently like most people, probably including me haha, you will take that opportunity to attend open-for-inspection to keep the agent representative company. Very likely, you receive undivided attention, enabling find out more about the building, the length of time in the market, the reason of sale, and what else in the market.
The property is NOT the agent’s representative’s office; it is a neutral ground and therefore NOT his territory. He does not have an upper hand over you, and very likely he feels more comfortable to talk about things that he cannot in the office, because his colleagues are around.
Many rookies get very excited to have someone paying attention to their “existence” (not “presence”), and will provide you a lot of useful information to help you place your bet. Unfortunately, some of them forget the word “privacy” and reveal too much information they should not have.
Everyday in every way, I help you to be a wiser house hunter / property investor.
Thank you for reading.
https://www.domain.com.au/news/buyers-have-the-upper-hand-cold-melbourne-weather-leads-to-lukewarm-auctions-20180701-h123m1-442361/
Commenting on “‘Buyers have the upper hand’: Cold Melbourne weather leads to lukewarm auctions”
https://www.domain.com.au/news/buyers-have-the-upper-hand-cold-melbourne-weather-leads-to-lukewarm-auctions-20180701-h123m1-442361/
Once again, report has it that buyers have the upper hand at auctions. The adjusted auction result for Melbourne for last weekend was slightly more than 50%.
It is close to one and three quarters years when the real estate hype started to fizzle out. For those who were not ready to let go their properties for various reasons just missed out having the extra thousands or even tens of thousands in their bank account.
Timing is everything, whether you are in the market buying or selling. The best strategy to adopt is to “buy low, sell high”. However, it is easier said than done. On hind sight, everyone can be an expert, but in reality, such strategy is extremely difficult to implement.
Such strategy does not only apply to the property market, but also other form of investments such as shares. Unlike the share market, property trading has a much longer lead time and generally costs a lot more for each parcel for the ordinary participants.
It is easier for me to make predictions of real estate market than share market, because I Real Estate is my passion, and there is always sufficient time for me to analyse the market and respond to it.
A home owner does not behave like a property invesror. When a home owner sells his home, he needs another place to live in, whether it is another dwelling including an apartment, retirement village or aged care home. They need to finance the next move, while an investor have more options - to hang on to the sale money, invest locally, interstate or overseas, or buy land. The urgency between the home owner and an investor is also very different as well.
Some properties can be in the market for months, some get snapped up in hours. The former are overpriced properties and they do not meet market expectation. Some of these vendors may not need the money that desperately, or they paid too much at peak time and want to recoup what they had paid.
During real estate hot market, buyers are out of their mind and pay extra in fear of missing out, and stupidly bragging about their purchase.
I did not like to take charge of open-for-inspection during cold wintry days, especially in houses with poor lighting and had no heating. It made me feel miserable, and unmotivated. It is true that many people including house hunters would stay home or go to a shopping centre to enjoy the comfort of a warm environment.
If you always think differently like most people, probably including me haha, you will take that opportunity to attend open-for-inspection to keep the agent representative company. Very likely, you receive undivided attention, enabling find out more about the building, the length of time in the market, the reason of sale, and what else in the market.
The property is NOT the agent’s representative’s office; it is a neutral ground and therefore NOT his territory. He does not have an upper hand over you, and very likely he feels more comfortable to talk about things that he cannot in the office, because his colleagues are around.
Many rookies get very excited to have someone paying attention to their “existence” (not “presence”), and will provide you a lot of useful information to help you place your bet. Unfortunately, some of them forget the word “privacy” and reveal too much information they should not have.
Everyday in every way, I help you to be a wiser house hunter / property investor.
Thank you for reading.
https://www.domain.com.au/news/buyers-have-the-upper-hand-cold-melbourne-weather-leads-to-lukewarm-auctions-20180701-h123m1-442361/
