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Ian's Real Estate Rant (Blog)

“From the desk of Ian Barnes. Relevant, topical real estate related opinions, thoughts and perspectives”

Market update- Stock levels high

August 11, 2011

We are seeing an enormous amount of new stock either come onto the market, or about to come on. I received 5 requests yesterday alone for appraisals, all for sellers in this area. There are currently over 200 properties all prices in Applecross and Mount Pleasant on the market. During the height of the boom, it was closer to 100. I am finding that there...

The 8 risks to buying property privately

August 4, 2011

Buyers are cautioned to be very careful when buying a property privately, without a real estate agent. Recently, I have seen this happen a couple of times, and my general anecdotal findings are this. 1) Private sellers will often write ineffective, risky clauses that could open the buyer up to difficulties prior to settlement. Unless “subject to’s” are succinct, there are risks to both sides....

Putting the market into perspective

August 4, 2011

The recent decision by the Reserve Bank to keep interest rates on hold was welcome relief to home buyers and therefore home sellers alike. Interestingly, the decision had some commentary that is worth examining. “Interest rates have now been on hold for the past nine months – Reserve Bank governor Glenn Stevens said in a recent speech that Australia is in the most stable period...

5 Consecutive Quarters of Price Falls

July 25, 2011

The following was recently posted on the REIWA website. To see the full article, click here. http://reiwaviews.com.au/2011/07/median-house-price-in-gradual-fall-for-5-quarters/ “Preliminary data from the Real Estate Institute of Western Australia show that Perth has experienced its fifth consecutive quarter of falls in the median house price. Our reiwa.com data is showing that prices fell by around 2 per cent in the June quarter, notching up 15 months of...