The Domino Effect in Real Estate

I’m proud to announce that on 1st October, Forsyth will celebrate its 114th Birthday.  I’ve included a link with just a brief history on the company if you are interested in that sort of thing. 

Sometimes it takes movement in order for other movement to occur.  This domino effect can happen in real estate. With low stock levels, people looking to move have not been able to find their next home and therefore couldn’t put their own home on the market. Now we are starting to see movement, which is normal in Spring, and homes are popping up. Stock levels though, are still very low for this time of year. Pricing, too, is interesting. The $1.8 to $2.5 market is starting to move with a number of sales in all suburbs in that price range.  The attitude of buyers in this range has also shifted. They are bidding, and bidding with confidence, but still rarely paying over the market.

I spoke last week that buyers should not steer away from homes that have been on the market for a while. Often It’s just you and the price and a reluctance of the owners to meet a market that has pulled back. This week we’ve seen a number of sales with properties that have been off the market for more than six months.  There’s only been one case of a higher price being achieved, but in all cases, good prices were obtained and all parties could move on with their lives.

Getting on with your life is a massive part of our business,  it’s the psychological side.  Real estate agents are 10% real estate agents and 90% social workers or psychologists. It’s a stressful thing moving. Throw in all the reasons why people move and whether it is for good reasons or bad, it can cause huge emotional, physical and financial upheavals but, as I’ve said many times before, at the end of the day, if you have the right information then it’s just a decision. 

I have received some great feedback this week and I appreciate those readers taking the time to share their comments. Some people shared political views, others economic. We deal with a range of people in all different walks of life from the cradle to the grave. This is a very rewarding industry to be in. In writing these notes I always look for patterns in the market place to help my readers make decisions; to move or stay or invest, now or in the future. The topics come from sitting in lounge rooms with clients, at open for inspections and the numerous calls and emails I get daily.  Please contact me if there is anything you wish to discuss.

Happy Birthday Forsyth!