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Opportunities About - Keep Looking

( Thursday 16 August 2012 )

Vendors and buyers are definitely waiting for something to change, what’s going to happen, who knows. The papers are full of predictions doom and gloom, but the inner Melbourne home property market will continue on.

Yes, prices have come off somewhat in the last few  years. In some cases we are back at 08-09 levels but this is not the case for all properties.

Even some of the sales in the outer areas are still preforming very well, but they have to be good homes well renovated and to quote a purchaser that I overheard “ticks all the boxes”. If that is the case sure enough you get multiple bidders and a result even with all the doom and gloom.

Find a property that doesn’t “tick all the boxes” and make the changes, reap the benefits later

We think there are tremendous buying opportunities particularly for those properties that you can add some value too. Look for property that is not compromised and with something you change, and then make it happen. Add some real value, reality is it is now more difficult to find a value adding proposition, but when you do there is an upside even in a flat market and the bonus is when the market eventually turns.

Not being one of the sheep will see major benefits in the years to come. I’ve seen it before and I am sure I will see it again.

If you are thinking of up grading now is the best time we have had in the last 3 years to undertake the process. It’s all about that bit in the middle- how much it cost you to upgrade.

Many of our clients go from a $ 700-900k property and buy a $1.4-$1.7 property. If you think the market in a suburb has eased by 15% then the bit in the middle will be substantially less now for the same property if you had made the move in the last few years. Work out the math, we have and when the property market has an easing it is the best time to undertake that major upgrade…enjoy the slower market and run against the tide if you can handle the rip! Then in a few years you can ride the big wave home…or just go surfing..



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( 16.08.2012 )

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