Buyers Be Ready…Sellers Act Now!
Welcome to 2021 everybody!
Let’s say farewell to pandemics, vaccines, ‘unprecedented happenings’, quarantines, elections, floods, fires and too many sharks.
Let’s look forward to normality (the old kind), fun in the sun, freedom of speech, respect for each other, and excitement about the future that you can create for yourself.
The question on everyone’s lips…what is this property market doing? Answer…what it always does… what we cause it to do and what the media says it’s going to do – not that they would know, but because everyone believes them and acts accordingly, which, then of course, makes it happen.
So let’s take back some control (which, in case you haven’t noticed you are losing little by little on a daily basis). Let’s act like nobody knows anything and do what you want to do. If you want to buy a home, well put yourself in a good position to do so, because a lot of people are wanting to buy homes right now, so you’ll have some competition. Have you got your finances in order? Could you put in a cash offer to make your position stronger? You know, you don’t have to have the cash in your back pocket to make a cash offer, you just need to be 100% certain that you will be approved if you apply. You have no idea how many people have missed out on their dream property because they didn’t know that.
Now your bank will never recommend that you put in a cash offer, because they’re too scared to, but if you have large amounts of equity, or a highly paid job with an ample deposit and a finance broker who is prepared to advise you that you can make a cash offer, then you should feel comfortable enough to do that. If you don’t have a broker like that then call me – I have one. If you already have a house, and want to upgrade or downsize, and you need to sell to buy, then please sell yours first as ‘subject to sale’ offers are not the flavour of the month right now, and just don’t work in a competitive environment.
Sellers, if you’re considering selling, you couldn’t pick a better time. So many buyers, so few homes… but don’t get greedy and shoot yourself in the foot, because it’s 2021 not 2006. Buyers aren’t stupid and they are doing their homework. If your house sits on the market in this environment, then something is wrong, and it’s either the price or the presentation, so please choose an agent who can give you the right advice on both of these, as the wrong advice can cost you a fortune. Overpricing your home does irreparable damage, so please don’t fall for the “high price and low commission” listing strategy put forward by some agents around town.
So, whatever you are doing in your Real Estate world, now is a good time to act. Rental properties are hard to find, and rental properties generally are giving you a better return than the banks. While interest rates are low you might consider buying instead of renting. If you have no money for a deposit then the time to start saving is now, as if you never have a deposit, you will never buy a home, then you will never have money for your retirement, unless of course you have a rich aunt or something.
Remember the saying “God helps those who help themselves…?” – no truer than at this moment when we have had a year of turmoil and now look forward to a year of refreshing new growth, just like the forest after a bushfire.
Go forth with confidence and ignore the naysayers… it will be a great year if you make it great, so go ahead and make your dreams come true, whether it’s a new home, a new job, new friends, or a new hobby – think of your life as a bare garden, where you get to plant exactly what you want to make it beautiful for you. I love my garden of life that I have created, and you will love yours too!
Have a wonderful year!
Source: “Buyers Be Ready…Sellers Act Now!”, The Post – 30 January 2021.