It's a good time to go shopping :)

haha for sure

 

Always a good time for house shopping

 

I made a vague Facebook post about house shopping today and spoke to my family - all of whom gave a theme that it's too close to Christmas for that stress and that I'm mad for doing so. I didn't realise this was the mainstream view. How PERFECT!!!

I love you guys.

If it all goes ahead, you can all reassure me when I get buyer's remorse

 

I think this is a 50/50 debate..

In melb many vendors rushed to get their property listed for a 4-5 week campaign leading into December as per every year.

Difference is this year it has been a hot market coming to the top of the melb cycle.
So this time round you may see vendors a little bit more unrealistic in their reserves or prices they want, whereas other years vendors would have been keen to offload before end of year.

From experience selling my parents house for them this is what happened, auctioned in mid December, passed it in and ended up selling in Feb.

Each deal and each vendor is different. Convincing the greedy vendor in a moving market is the hardest part..
Happy shopping everyone!!!!

 

Sydney is good... i'm in negotiations for a property that listed in November.... fewer buyers now... we've been advised the sellers have made plans to move to the countryside... its ripe for the picking.... ready to pounce...

Total bargain if it all comes to fruition... (rubbing hands together in anticipation)....

 

Any luck yet?

 

Doing a Pest and Building on Monday... vendors want an unconditional offer (no fluffing about with tirekickers or people who can't settle!)

 

Nah, Just put one on the market for two weeks to just to see what happens as it had become vacant and it is a red hot market. It was a spur of the moment thing and I certainly wasn't desperate and achieved 15k more than I was originally prepared to accept, I thought I might not get offered that sort of money again for a decade. People are desperate to get housing sorted out before Xmas so it can be settled and occupied before February if not before Xmas, especially those relocating and have already sold and settling before Xmas. It was yielding 6.5%, but as banks wont lend money, I thought their might be better ways to use my equity. Just this morning some housing expert Peter Kou ?? from money magazine was predicting house prices will tumble in the New Year.

 

It all depends on the location really. Hot (as in, market hot) location and good demand... still very good prices for a vendor.

Cooler market locations? Good chance for a possibility of a bargain. Note if it is a property that is generally harder to sell then it is likely it could be an issue at the time of resale too, so take that into consideration.
Not every property is worth investing in.

 

@dabbler You are right.
I am in Brissy today and went to the Hemantt area to get a feel.
Not impressed.
Will discuss more on Tuesday meetup.

 

If you are still in Brissie drive over to the Bay over at Manly, Wynnum and then also at Birkdale and Wellington Point....

 

Feel free, but do not take me the wrong way, I actually think Hemmant will become very popular, Hemmant is the next "Murrarie" ,

You can see how the suburbs from the inner city outward just keep getting ever more popular, one by one on the way out to the bay, and then you have it very popular in the bay moving back the other way, over some time the whole lot will be desireable. That is how I see it.

 

I agree, go to Wynnum, drive through Manly, Lota, then past Manly West over to Thorneside up to esplanade again then Birkdale (if you have money, look at Aquatica estate) then down to Wellington, Check Alex Hills and Capalaba too on way back.

You will notice when your in the Thorneside, Birkdale, Wellington area etc that it is actually nicer on the average (housewise) than the more popular BBC bayside area, only a matter of time before it fires as well, it is popular family spot, not much to dislike all round there really. By train only 1 or 2 stops further. By car to city it is same same.

 

Just wondering about the process...

Will there be any issues getting solicitor, pest & building inspectors etc when buying at this time?

 

Yes, many will close down etc in NSW cooling off is in business days, so excludes public holidays, you could always ask for B&P and Finance clause to be in X business days or pick a date into next year if buying close to Christmas.

 

Definitely, I agree but long term game 10years+ as it is mostly industrial estate and only couple of streets with houses(more like housos, if you know what I mean ). The area needs rezoning and gentrification which will take time I guess.

 

will try as I am driving to Gold Coast today

 

Come over to the Northside. It's nice.

 

Depends on your flexibility. I'm struggling as there is more limited stock and I'm looking for ppor. Agree there can be bargains if sellers need the money now. But lots of people are waiting for the new year to list.

 

Ppor is different as there's specific requirements. There's always IPs worth buying somewhere.