Hi Property Lovers
People have been asking me how the market is going in the Nedlands area, so here's a short run down on what has been happening and what I expect the market to do over the next several months......Confidence has return, all you have to do is look around and see the SOLD & UNDER OFFER stickers around the suburb, home opens have also been well attended across the board & now offer's are coming in at stronger level's (full asking for some properties). this is great news for the Western Suburbs, especially Nedlands, confirming that the market has hit the bottom and is now starting to recover.....BUT with such a fast recovery in both property & the stock market and the cost of living yet again rising, the Reserve Bank has no other option than to start lifting interest rates (some economist guessing 5% by the end of 2010). With interest rate rise's comes caught ion from buyers when purchasing property. Seller's must not get caught up in the "hype"that we are back in boom times...... I've already started to notice that the expectations of buyers and seller's widening.
SELLERS: Prior coming on the market look a your competition, go to home open's in your area that are similar to your home, go in with a open mind and think is this a better location, better fixtures ect....., how long have they been on the market and how many price reductions have these properties had and most important of all, WHAT HAS SOLD IN THAT AREA IN THE LAST 2 MONTHS? Three key points to remember when selling your home are PRICE , Presentation & LOCATION. If your home represents a good buying opportunity in a highly desired location you will have no trouble selling it.
BUYERS: Interest rate rises....its inevitable that they are going to go up, but remember they are still the lowest they have been in many years. Prices have also come back from post boom level's offering some very god buy's in the area...if you find a house that is a bit outside your price level, don't be scared to put in a offer of what YOU think the property is worth, the worst that can happen is they reject offer, if so move on to the next one, they may counter the offer or they may even accept! Remember the price is there as a guide, but the property will sell what the market is willing to pay.
People have been asking me how the market is going in the Nedlands area, so here's a short run down on what has been happening and what I expect the market to do over the next several months......Confidence has return, all you have to do is look around and see the SOLD & UNDER OFFER stickers around the suburb, home opens have also been well attended across the board & now offer's are coming in at stronger level's (full asking for some properties). this is great news for the Western Suburbs, especially Nedlands, confirming that the market has hit the bottom and is now starting to recover.....BUT with such a fast recovery in both property & the stock market and the cost of living yet again rising, the Reserve Bank has no other option than to start lifting interest rates (some economist guessing 5% by the end of 2010). With interest rate rise's comes caught ion from buyers when purchasing property. Seller's must not get caught up in the "hype"that we are back in boom times...... I've already started to notice that the expectations of buyers and seller's widening.
SELLERS: Prior coming on the market look a your competition, go to home open's in your area that are similar to your home, go in with a open mind and think is this a better location, better fixtures ect....., how long have they been on the market and how many price reductions have these properties had and most important of all, WHAT HAS SOLD IN THAT AREA IN THE LAST 2 MONTHS? Three key points to remember when selling your home are PRICE , Presentation & LOCATION. If your home represents a good buying opportunity in a highly desired location you will have no trouble selling it.
BUYERS: Interest rate rises....its inevitable that they are going to go up, but remember they are still the lowest they have been in many years. Prices have also come back from post boom level's offering some very god buy's in the area...if you find a house that is a bit outside your price level, don't be scared to put in a offer of what YOU think the property is worth, the worst that can happen is they reject offer, if so move on to the next one, they may counter the offer or they may even accept! Remember the price is there as a guide, but the property will sell what the market is willing to pay.
If you are thinking of selling and would like a obligation free market apprasial of your property please feel free to contact me on 0411 645 174
Thinking of buying or selling in Nedlands? Call me anytime.
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