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Ian's Real Estate Rant

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

MARKET UPDATE July 2016

July 20, 2016

As the first half of 2016 is behind us, the comparison to the same period last year tells a vivid story about the local market right now, today. A knowledge of this comparison is essential for all Sellers. Global factors and overall confidence being low, we have seen a fall away of sales volumes, quite dramatically. Year to date (6 months) Applecross has had 63...

Don’t be the first to walk away

June 30, 2016

In what is a tough, difficult period in the local property market where we continue to see large gaps in expectations between buyer and seller alike, the ability to get the deal together is often a case of how the negotiation is handled? I have found recently several sales occur where the dates between first offer and final offer, for the same buyer was anywhere...

MARKET UPDATE June 2016

June 3, 2016

Things are still very tight, maybe even more so than any time this year so far. The pending Federal Election may have stalled some Buyer activity. We are still seeing a lot of traffic at opens, and are writing offers. Some offers are very optimistic by Buyers, who many appear to be trying to guess where they see the market going, and offering accordingly. Other,...

MARKET UPDATE May 2016

May 9, 2016

I stated last month that the market remains tight (listing numbers and Sales volumes). In early May 2016, this is still unchanged. The recent 0.25% basis points reduction in official interest rates is also welcome news for potential Buyers as well as existing mortgage holders on variable rates. The market can do with any positive news right now that is available.An impending announcement of a...